MADRID (Reuters) -Spanish power utility Endesa’s net profit more than doubled in 2024, it said on Thursday, helped by recovery in its gas business.
Endesa, owned by Italian energy giant Enel, booked a net profit of 1.89 billion euros ($1.98 billion), up from 742 million euros a year earlier, when results were hit by settlement of a supply contract dispute.
The average forecast from analysts polled by LSEG was a net profit of 1.86 billion euros.
Gas margins rose to about 4 euros per megawatt hour, above previous guidance and the company proposed a dividend of 1.32 euros per share against 2024 results, up 32% from 2023 and 10% above its guidance.
The company said that it has the financial muscle to boost investments tied to energy transition, provided that the regulatory environment is supportive.
($1 = 0.9549 euros)
(Reporting by Pietro LombardiEditing by David Latona and David Goodman)
