Endesa obtained a net profit of
338 million euros
in the first quarter of the year, which represents a drop of 31.2% compared to the same period of 2021. Despite this, the company, which recalls that these months were marked " strongly due to the deterioration of the macroeconomic scenario and the high prices of raw materials and, particularly, of gas", maintains its forecasts for 2022 as a whole.
"Prices in wholesale electricity markets have reached an average of 229 euros in Spain, 232 euros in France, 249 euros in Italy or 238 euros in the United Kingdom between January and March," the company explained in a statement.
Despite all this and the "impact of this situation" on its results, "Endesa maintains its forecasts for the whole of 2022 communicated to the market: gross operating profit (EBITDA) of 4,100 million and net ordinary profit of 1,800 million."
José Bogas
, CEO of Endesa, pointed out that "we began the year facing an even more challenging situation than in the previous one, marked by the macroeconomic tensions derived from the impact of the war in Ukraine and by the transfer of this conflict to a commodity market premiums already highly inflated for months".
Likewise, the manager assured that Endesa "continues to trust in the solidity of its vertically integrated company model to meet the 2022 objectives".
He also stressed that they maintain their "advice and help strategy" so that customers can "overcome the turbulence of the energy market in their homes and businesses."
As far as results are concerned, the company registered a 10% decrease in EBITDA, to
914 million euros
.
"Without taking into account the extraordinary items recorded in the first quarter of 2021, essentially the 188 million from a court ruling related to CO2 rights, the EBITDA would grow by 10%," Endesa contextualizes.
The firm also points out that its net profit would grow by 14% if this sentence were not taken into account.
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