Endesa Sa Madrid (ELEZF) Q2 2025 Earnings Call

Investor webinar replay

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Replay transcript excerpt

WEBVTT 00:00:01.972 -- 00:00:07.179 Good morning to all the people connected. Welcome to the first half 2025 results 00:00:07.179 -- 00:00:12.766 presentation, which will be hosted, as always, by Endesa CEO, Jose Bogas, and the CFO, 00:00:12.766 -- 00:00:17.472 Marco Palermo. Following the presentation, we will have the usual Q&A session open to 00:00:17.472 -- 00:00:20.056 those connected on the call and on the web. 00:00:20.056 -- 00:00:24.179 Thank you, and now let me hand over to Jose Bogas. 00:00:25.664 -- 00:00:28.930 Thank you, Mar, and good morning, everybody. 00:00:28.930 -- 00:00:33.959 I would like to open this presentation by highlighting the solid performance 00:00:33.959 -- 00:00:39.705 delivered across all our businesses during the first half of 2025. 00:00:39.889 -- 00:00:45.138 This has led to a strong cash generation and operating results, 00:00:45.138 -- 00:00:50.725 confirming the strength and resilience of our business model. 00:00:51.027 -- 00:00:56.820 The energy framework during this period was marked by the April 28th 00:00:56.820 -- 00:01:02.212 blackout, and the implementation of the subsequent measures mainly 00:01:02.212 -- 00:01:07.403 aims at reinforcing security of supply, as well as we will elaborate 00:01:07.403 -- 00:01:12.904 on later during the presentation. Today, more than ever, Spain needs 00:01:12.904 -- 00:01:18.151 to bring its network investment up to the level required to ensure 00:01:18.151 -- 00:01:23.339 a modern, efficient and reliable distribution network, as set out in the 00:01:23.339 -- 00:01:29.828 PENIEC and also endorsed by the European Union, who recently upgraded 00:01:29.828 -- 00:01:35.094 2040 climate targets. To this end, it is essential to define 00:01:35.094 -- 00:01:40.280 a remuneration framework that ...