Endesa : 2023-2025 strategic plan highlights political and fiscal interference
>Outperform rating and target price of € 25.3 maintained - While the 2025 targets remain broadly consistent with the 2021-2024 trajectory of the previous strategic plan (2025e EPS adjustment of -3%), this new plan is disappointing in its targets for 2023 and 2024 (EBITDA, net profit and dividends), highlighting the combined constraints from the current energy market environment and the political and fiscal interference in Spain. Following the presentation, we have adj...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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