Red Electrica Reports 2017 Results In Line With Our Estimates
Red Electrica published full-year results in line with our expectations. EBITDA increased by 2.3% to EUR 1,519.5 million versus EUR 1,531 million on our estimates, while net income grew 4.8% to EUR 670 million, 2.4% above our EUR 654 million estimate. The full-year dividend is set at EUR 0.9188, 7% above the figure last year, in line with the annual growth rate targeted by the group through 2019. That implies a dividend yield of 5.7%, well above the 4% historical average, reflecting increasing r...
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