Endesa Sa Madrid (ELEZF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.837 Hello, good morning to all the people connected. 00:00:02.837 -- 00:00:08.228 Welcome to the nine-month 2025 results presentation, which will be hosted by Endesa 00:00:08.228 -- 00:00:11.735 CEO, José Bogas, and the CFO, Marco Palermo. 00:00:11.735 -- 00:00:16.385 Before we start, let me remind you that after the presentation, we will have the usual 00:00:16.385 -- 00:00:22.627 Q&A session. Thank you, and now let me hand over to our CEO, José Bogas. 00:00:22.627 -- 00:00:26.456 Okay, thank you, Mark, and welcome to everybody. 00:00:26.456 -- 00:00:32.191 Let me open this presentation by highlighting the strong economic and financial performance 00:00:32.191 -- 00:00:37.804 of the period, which, as we will see, suddenly resulted in a remarkable 00:00:37.804 -- 00:00:42.940 gas generation. This clearly proves the resilience of our business 00:00:42.940 -- 00:00:48.126 model, which enabled us to meet our commitments, maintaining 00:00:48.126 -- 00:00:53.273 predictable results and consistently creating value despite a complex 00:00:53.273 -- 00:00:58.939 and uncertain market context. Regarding shareholder remuneration policies, 00:00:58.939 -- 00:01:04.546 we are making steady progress in the implementation of our Share by Back program, 00:01:04.546 -- 00:01:09.904 as we will detail later on. And finally, When it comes to the distribution remuneration 00:01:09.904 -- 00:01:15.052 framework, the current proposal clearly does not provide adequate support 00:01:15.052 -- 00:01:20.500 and incentives for the investment effort required by the National Energy Plan. 00:01:20.500 -- 00:01:26.971 Let's now have a look at the key financial and operational highlight of the period. 00:01:26.971 -- 00:01:32.177 On slide number four, we can see the ...