Endesa Sa Madrid (ELEZF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and thank you for joining us today for our first half 2026 results presentation. With me today are our CEO, Gianni Armani, and our new CFO, Daniele Caprini. Before we start, let me remind you that after the presentation, we will move to the Q&A session. And starting from today, we will only take questions submitted in advance by email or through our website. In addition, given the busy earnings calendar with a large number of companies releasing results today, we aim to limit the duration of the call to one hour. Thank you once again and now I would like to hand over to Mr. Armani. Thank you very much, Mar. The first half of the year delivered solid financial results. BDA increasing by 20% and net income growing by 41%. This performance reflects growth across all businesses supported by higher contribution from regulated activities including both distribution and non-mainland generation. These results highlight the resilience of all our businesses and the disciplined execution of our strategy. Growth has been supported by continued efficiency efforts, allowing us to improve profitability and maintaining solid financial ratios. At the same time, we continued to accelerate the execution of our investment plan with network remaining the main focus. Overall, the robust operational and financial performance delivered with more than 60% of full-year EPS target already achieved together with the strong visibility that we have for the remainder of the year In the first half of 2026, EBDA increased to 3.2 billion. More importantly, the contribution of our regulated businesses increased from around 40% to approximately 50% of total EBDA. This reflects the weight of networks and other regulated activity within our portfolio, further strengthening the qua...