Business
Endesa S A : breaks its investment record once again with €10,600 million for 2026-2028 after earning €2,351 million, up 18%, last year
Endesa S A : breaks its investment record once again with €10,600 million for 2026-2028 after earning €2,351 million, up 18%, last
About this update from Endesa S.a.
A plan to extract full value from the energy transition Regarding the update of the strategic plan for the 2026-2028 period, Endesa shows that it is exceptionally well-positioned to lead the energy transition and capitalise on the vast opportunities arising from the necessary electrification of the economy (transport, industry, and buildings), as well as the attraction of new consumption from industry and data centres (which will absorb around 5% of total demand in 2030, some 15 TWh). This electrification will make it possible to be more competitive and reduce external energy dependence, whilst reducing emissions. From a financial standpoint, the plan estimates that around 85% of the EBITDA to be obtained over the next three years (some €18,000 million) is regulated or contracted, as it stems from regulated businesses or activities that are already committed. This provides the market with solid visibility regarding the return on the company's assets and investments. Likewise, an average annual growth in results of 4% is forecast, underpinned by growth across all businesses thanks to increased investment, productivity boosts, and efficiency. The main financial variables for 2028 are: achieving an average annual growth in gross operating profit of 4% to between €6,200 and €6,500 million; an ordinary net profit of between €2,500 and €2,600 million, which would also increase by an average of 4% annually; and keeping net debt in a range of between €14,000 and €15,000 million, which would entail a leverage ratio of 2.3 times, up from 1.8 times at the end of last year. Eighty per cent of the total €10,600 million investment will be allocated to the two main areas of the energy transition: distribution networks and renewables, which absorb €8,500 million, 10% more than in the previous plan. The distribution of resources between the two businesses changes significantly, however, as the volume allocated to the grid grows by 40% while the amount dedicated to renewables is reduced by 20% (due to a more selective approach to this type of investment and the fact that certain projects have been rescheduled to dates beyond this plan). More than half of the resources, €5,500 million (the aforementioned 40% increase), will be allocated to reinforcing the electricity grid. This scenario is contingent on the approval of the announced Royal Decree allowing investments to be r...