Enel Spa Unsp/Adr (ENLAY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good evening to all the people connected. Welcome to the first half 2025 result presentation. Enel CEO Flavio Cattaneo will start with the highlights of the period and our CFO Stefano De Angelis will present the economic and financial results. We ask those connected to the webcast to send questions only via email at investor.relations at nl.com. Before we start, let me remind, media is listening to both. Thank you, and now let me hand over to the CEO. Thank you, Omar. Welcome, everybody. The positive trend is also confirmed in the first half. a 4% net income increase on a like-for-like basis, marking another quarter of growth, driven by our action to reduce risk and secure results. On shareholder remuneration last week, we paid the final 2024 dividend installment, equal to 25.5 euro cents per share, with total dividend for last year at buying a yield of about 6% at current prices. In addition, as we have already done for Endesa and Enel Americas, today the Board approved a tranche of the Shared Payback Program at Enel's file level for €1 billion. to be executed starting from tomorrow until the end of December. This is another clear signal. We deliver on our promises and optimize capital allocation to maximize shareholder returns. Due to our action, we have improved the announced earnings profile. We resolved increasingly the couple from power price vulnerability, ensuring a lower risk, greater visibility, and enhanced resilience. We also improved visibility on our regulated assets. Our advocacy actions are delivering results. In Italy and Latam, we have made progress on distribution concessions renewal. While in Spain, with the proposed framework, it doesn't provide adequate support for the investment effort required by the PMEA. We are engaging with the authorities ...