Endesa Sa Madrid (ELEZF) Q1 2026 Earnings Call

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WEBVTT 00:00:01.938 -- 00:00:08.067 Hello, good evening everyone. Today's first quarter 2026 results presentation 00:00:08.067 -- 00:00:13.555 will be led by our newly appointed CEO, Jan Armani, whom we warmly welcome 00:00:13.555 -- 00:00:17.200 today, together with the CFO, Marco Palermo. 00:00:17.200 -- 00:00:21.787 Before we start, let me remind you that after the presentation, we will have the usual 00:00:21.787 -- 00:00:25.412 keynote session. Thank you, and now let me hand over to Mr. 00:00:25.412 -- 00:00:27.412 Armani. 00:00:28.128 -- 00:00:30.471 Thank you very much, Mar, 00:00:30.471 -- 00:00:36.117 for your kind welcome. I've only recently taken up the role 00:00:36.117 -- 00:00:41.422 of CEO, and I would like to ask you the indulgence for a 00:00:41.422 -- 00:00:46.708 brief settling in period. For this reason, 00:00:46.708 -- 00:00:51.893 during the Q&A session, I will take slightly a 00:00:51.893 -- 00:00:56.358 secondary role, giving the floor to our 00:00:56.358 -- 00:01:02.050 CFO that will answer questions. to all your questions professionally. 00:01:02.214 -- 00:01:05.336 Thank you very much for the understanding. 00:01:05.479 -- 00:01:10.528 The quarter delivered solid financial results, with the BDA 00:01:10.528 -- 00:01:15.817 growing 14% and net income rising 24%. 00:01:15.817 -- 00:01:17.240 The 00:01:17.240 -- 00:01:22.749 performance was primarily driven by the distribution business, which continues 00:01:22.749 -- 00:01:28.341 to to demonstrate its strength supported by effective and disciplined management 00:01:28.341 -- 00:01:30.341 of 00:01:30.363 -- 00:01:32.045 our grid 00:01:32.045 -- 00:01:33.827 and 00:01:33.827 -- 00:01:37.831 in the environment of the new regulatory framework. 00:01:37.831 -- 00:01:42.916 Once again, the period h...