Endesa Reports Improved Fiscal Year Results
We are reaffirming our EUR 18 per share fair value estimate and no-moat and stable moat trend ratings after Endesa reported 2016 operating EBITDA of EUR 3.4 billion, up nearly 13% from 2015 and in line with our EUR 3.3 billion expectations. For 2017, we forecast EUR 3.4 billion in operating EBITDA, consistent with management expectations. Results in 2016 include the acquisition of 60% of Enel Green Power Espana, which closed at the end of the second quarter. The company will pay a EUR 1.33 per s...Endesa is engaged in the production, transmission, distribution, and supply of electricity, through hydroelectric, fossil fuel, and nuclear generation. Co. is also engaged in the mining of coal for use in its fossil-fuel electric plants; mining research; land restoration, and environmental monitoring and control.
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