Spain's Endesa confirms full-year guidance after beating expectations in first quarter
Endesa's First Quarter Performance and Future Outlook
First Quarter Financial Results
MADRID, May 6 (Reuters) - Spanish power utility Endesa on Wednesday confirmed its full-year profit guidance after posting a 24% rise in first-quarter net profit that beat market expectations.
Net Profit and Analyst Expectations
The company, owned by Italian energy giant Enel, booked a net profit of 725 million euros ($852 million) in the quarter, compared with 583 million euros a year earlier and 620 million euros expected by analysts polled by LSEG.
Sector Demand Overview
Endesa said demand in the residential and services segments remained strong, while industrial demand has been mainly affected by geopolitical uncertainty.
Guidance and Investment Plans
2026 Profit and EBITDA Forecast
Looking ahead, the utility reaffirmed its guidance for 2026. It has forecast a net profit of between 2.3 billion and 2.4 billion euros and earnings before interest, taxes, depreciation and amortisation (EBITDA) of between 5.8 billion and 6.1 billion euros.
Investment Strategy
Power Network Investments
Endesa, which plans to invest 10.6 billion euros primarily in power networks through 2028 under a three-year plan announced in February, said boosting investment was key to easing current grid bottlenecks.
($1 = 0.8511 euros)
(Reporting by Emma Pinedo and Javi West Larrañaga, editing by Andrei Khalip)
