Redeia earns 354.3 million euros in the first half, 2.4% less

MADRID, 26 Jul.

Redeia earns 354.3 million euros in the first half, 2.4% less

MADRID, 26 Jul. (EUROPA PRESS) -

Redeia obtained a net profit of 354.3 million euros in the first half of the year, which represents a drop of 2.4% compared to the same period of the previous year, the company reported.

The income of the group to which Red Eléctrica de España belongs (turnover and results of investee companies) amounted to 1,063.9 million euros in the first six months of the year, 3.2% above the figure registered in January to June 2022, thanks to the boost of diversification businesses.

The slight decrease in revenues from the regulated business in Spain - due to the application of the remuneration adjustments derived from the definitive tariff orders from 2016 to 2019 - was largely offset by the good performance of international electricity transmission operations .

Thus, the revenues of Redinter, the subsidiary that manages all the business in Peru, Chile and Brazil, rose 21.2% above those registered a year ago, mainly due to two start-ups in Chile and Peru, to work on behalf of third parties and the favorable effect of the exchange rate. The incorporation of new assets in Brazil and the good results of the co-owned company Transmisora ​​Eléctrica Norte (TEN) in Chile also contributed.

For its part, the contribution of the telecommunications business increased its income by 14.7%, thanks to the contribution of the satellite and fiber optic subsidiaries.

The gross operating result (Ebitda) of the group chaired by Beatriz Corredor stood at 789.3 million euros at the end of June, 0.6% more than in the same period of the previous year.

The efforts made by Redeia in terms of efficiency, the good evolution of turnover and the contribution of investee companies within Redinter's perimeter contributed to this figure. The net operating result (Ebit) reached 527.6 million euros, 0.7% higher.

Regarding the net financial debt, it closed the first half of the year at 4,312.7 million euros, 6.9% lower than those registered in the same period of the previous year.

This decrease was mainly due to the issuance last January of a green hybrid bond of 500 million euros with a coupon of 4.625% included in the group's equity. The positive generation of cash flow also favored this evolution of this indicator.

With regard to the remuneration of its shareholders, on July 3, Redeia made the payment of the complementary dividend corresponding to the financial year 2022 for an amount of 0.7273 euros.

Thus, the total dividend paid out of said financial year amounts to 1 euro per share, as contemplated in the group's strategic plan.

RAISE YOUR INVESTMENTS BY 51%.

For its part, the group's investments in the first half exceeded 413 million euros, 51.2% more than the same period of the previous year. The promotion of investments linked to the activity of management and operation of national electrical infrastructures stood out, which stood at 353.5 million euros, more than 74% from January to June of the previous year.

The subsidiary Red Eléctrica allocated more than 320 million euros to the reinforcement and development of the transmission network in line with current electricity planning.

Meanwhile, Hispasat also increased its investment figure compared to the first half of 2022 due to the launch of the Amazonas Nexus satellite that took place on February 7: 38.4 million euros, 5.3 million euros more than the year former.

For its part, investment in fiber optics went from 2.7 million euros in the first half of 2022 to 5.3 million euros this year, due to progress in Reintel's investment plan focused on renewing the plan railway fiber optics. Internationally, the subsidiary Redinter has focused on completing its large investment projects in Chile and Peru.

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