Redeia Corp U/Adr (RDEIY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. We're now going to start our presentation of the earnings from the first half of 2025. So welcome, everyone who's following us by telephone and on our website. Along with us today, we have Roberto Garcia Merino, our CEO, and Emilio Cerezo, our CFO. So I'll hand over now to our Chief Executive Officer. Good morning, everyone, and welcome. Thank you for attending this presentation. Today we want to share the most significant milestones of the first half of 2025 with you, looking at Renea's performance and all the results achieved by the group during the period. And we'll wrap up the presentation with our vision for 2025. And you may remember that's the last year of our current strategy plan. At the end of the presentation, we'll have a Q&A so we can address any questions you might have. So, I'd like to start by identifying the highlights of the period. Firstly, as you're all aware, at the end of April there was a total power outage on the peninsula mainland, which I'll discuss in greater detail later, but once again it highlighted the importance of electricity grids and the need to strengthen the electricity system with additional flexibility tools. and that's why we're continuing to boost our investments in the national transmission grid. These investments will enable us to achieve energy independence, supporting the development of the very fabric of industry and production. In this regard, during the first six months of the year, TSO investments exceeded 560 million. That's 34% more than in the same period of 2024. with a particular focus on international interconnections, links between islands and energy storage, moving towards the goal of exceeding 1.4 billion euros by the end of the year. That's the largest investment in the his...