Endesa's Year-to-Date Results Supported by Recovery of Unregulated Business
We are reaffirming our EUR 18 fair value estimate and no moat and stable moat trend ratings after Endesa reported year-to-date operating EBITDA of EUR 2.9 billion, up nearly 11% from the same year-ago period. Results include the acquisition of the 60% of Enel Green Power Espana, which closed at the end of the second quarter.Results at the company's deregulated electric business showed improvement, with production cost declines attributed to reduced thermal generation and lower taxes and fuel co...
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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