Endesa has reported a 61% increase in net income for the first nine months of 2006, driven by strong growth across all of its regional business segments.
For the first nine months of 2006, Endesa has posted net income of E2.5 billion, an increase of 61% over the same period in 2005. This was driven by a 43% increase in the company’s Spanish and Portuguese business, a 51% rise in its European business and an impressive 119% increase in its Latin American operations.
For the January to September 2006 period, gross operating profit (EBITDA) rose 24.6% to E5.5 billion, while operating profit (EBIT) advanced 32.3% to E4.1 billion. Endesa said that these results leave the company on track to easily meet its 2005-2009 strategic plan targets, which were revised up in July 2006. These targets include EBITDA of E6.9 billion in 2006 and E8.3 billion in 2009, and net income of E2.9 billion in 2006 and E3 billion in 2009.
Endesa’s total generation output in the first nine months of 2006 amounted to 141,029GWh, an increase of 2.9% on the same period last year. Sales, meanwhile, totaled 164,324GWh, 9% more than in the first nine months of 2005, with increases of 9.1% in the Spanish and Portuguese business, 13.4% in Europe and 5.2% in Latin America.