Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Endesa : 2021 was complicated, 2022 should see a return to the 2021-2024e trajectory

>Outperform and target price of € 25.3 maintained - Reported FY 2021 figures came in above our forecasts and those of the consensus. However, Q4 2021 was marked by a challenging energy context and a multiplication of non-recurring items (positive and negative) that make it difficult to interpret the accounts On the recurring basis (different from the "ordinary" aggregates presented by the group which take into account non-recurring items) Endesa's performance is below...
Underlying
Endesa S.A.

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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