Redeia earns 664.7 million in 2022, 2.3% less, due to regularization of income from electricity activity

It maintains its commitment to a dividend of one euro and places investments at 1,032.

Redeia earns 664.7 million in 2022, 2.3% less, due to regularization of income from electricity activity

It maintains its commitment to a dividend of one euro and places investments at 1,032.3 million, almost 80% more than in 2021

MADRID, 28 Feb. (EUROPA PRESS) -

Redeia (formerly Red Eléctrica) obtained a net profit of 664.7 million euros in 2022, which is 2.3% less than in 2021, mainly due to the regularization of income and higher expenses in the management and operation activity of electrical infrastructures in Spain, as reported on Tuesday.

Despite the reduction in its profit, the board of directors will propose to the general meeting of shareholders the distribution of a dividend of one euro charged to the results of 2022.

From this amount, the 0.2727 euros per share paid on account on January 9 must be deducted. The complementary dividend of 0.7273 euros will foreseeably be paid in July.

Likewise, income (turnover and profit sharing from companies accounted for using the equity method) stood at 2,065.4 million euros, 4.2% higher than the previous year.

The company has highlighted that this "good data" reflects growth in practically all businesses, among which the evolution of international electricity activity and the telecommunications business stands out.

Specifically, the management and operation of electrical infrastructures has closed 2022 with lower income due to the application of orders TED/1311/2022 and TED/1343/2022 that establish the final remuneration for 2016-2019. Without this impact, the turnover would have registered a figure higher than that of the previous year.

For its part, the company's gross operating result (Ebitda) reached 1,491.3 million euros last year, with a decrease of 0.5% compared to 2021, which is explained by the regularization of transport income of the 2016-2022 financial years, the higher expenses related to the maintenance of critical assets and the higher cost of personnel for the provision associated with the signing of a new collective agreement.

Redeia's net operating result (Ebit) stood at 961.5 million euros in 2022, 3.1% less, while the company's turnover increased 3.2% in the year, up to 2,015 million euros.

Regarding the net financial debt, it closed the month of December at 4,633.8 million euros, 18% lower than that registered in the previous year. This decrease is explained, among other reasons, by the sale to KKR of 49% of the fiber optic subsidiary, Reintel.

Redeia's investments from January to December have registered 1,032.3 million euros, which represents an increase of almost 80% compared to 2021.

The company has highlighted that the evolution of this amount is marked by the good progress of investment in the management and operation of electrical assets in Spain, which in 2022 has been 25% higher: 532 million euros.

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