Endesa profits x8 in 2020 to €1.3Bn

 In Energy, News

The Spanish energy company Endesa notched up over €1.3Bn in profits for 2020, eight times greater than the €171Bn profits the year before.
Last year’s profits were down because of the expected close of its coal-fired power stations.

In a communiqué to the Spanish stock market and securities commission (CNMV), the company said that had it not been for the effect of these closures and other extraordinary events, the profit would have been €2.13Bn.
In 2020, revenues were €17Bn, down 12.9% on 2019, the EBITDA was €3.7Bn, down 1.5% on 2019.
Endesa will distribute all of its net results for 2020 to its shareholders, and from this year will progressively reduce the percentage of profit to shareholders from 80% to 70% for 2022 ad 2023.
In 2020, the company pursued a policy of decarbonisation, and in June closed its coal-fired power stations at Compostilla and Andorra which led to a reduction of installed capacity of 43% (2.100MW).
Endesa has been operating in Portugal for 20 years, through the development of various energy production projects and is active in the domestic and small business market in the country and well as supplying natural gas with around 400,000 clients nationwide.