Endesa earned 7,504 million euros between January and March 2023 , which represents a decrease of 1.2% compared to the same period of the previous year (7,504 million). Ordinary net profit increased by 76%, from 338 to 594 million euros . This growth is due, he points out, to the progressive normalization of energy market conditions derived from the drop in gas prices . Which contrasts, they explain, "with the high prices recorded in the first quarter of last year." The gross operating result (ebitda) increased by 60%, to 1,462 million , supported by the good evolution of the conventional and renewable generation business and the normalization of the electricity and gas marketing activity. This has allowed, according to Endesa, to "cushion the impact" of the 1.2% tax on the company's income: a tax that amounts to 208 million in its case and that raises the effective tax rate in the quarter to.
Endesa, Naturgy, Iberdrola and Holaluz, once again in the focus of competition: claims for company changes without consent skyrocket "We have started fiscal year 2023 taking advantage of all the opportunities that a vertically integrated company business model, together with successful management of multiple variables, allows us," said the company's CEO, José Bogas. "Despite these solid results, we predict a normalization of the conditions of our conventional generation and gas businesses throughout the year, so we must not let our guard down during the Country Email List coming months," he clarified, according to the Press release . Bogas recalled that they have 100% of the new renewable power that will be launched in the year already underway: "For all these reasons, our forecasts for the whole of 2023 are confirmed." The company aims for between 4,400 and 4,700 million euros of EBITDA and an ordinary net profit range of 1,400-1,500 million. In addition, the manager recalled the recent approval, at the 2023 General Shareholders.
Client portfolio growth Overall, Endesa celebrates what it describes as "solid results" that continue to benefit from the inertia gained in 2022, when it presented a 77% increase in its profits, up to 2,541 million euros , thanks to the good performance of the gas business already a lower deterioration in the value of non-peninsular businesses. The main indicators for this first quarter of 2023 point to a context of electricity prices softened by the drop in gas references and an increase in renewable production that allows reducing supply costs. The growth is also observed in the customer portfolio : Endesa closes March with 6.8 million liberalized electricity customers (7% increase compared to the same month last year), "supported by the positive evolution of the domestic segment", and with 1.8 million customers in its gas contract portfolio, which implies 6% more.