Redeia : Remaining cautious on the 2024 regulatory impact
>Fine-tuning estimates following the 2024 guidance release - We are updating our estimates on Redeia following the annual accounts publication and the release of the 2024 guidance consisting of EBITDA above € 1.3bn and net profit of around € 500m. These references are 9% and 12% below our previous estimates respectively, which considered an EBITDA margin of 72% at the domestic electricity infrastructure business for 2024 and 71% in 2025, and we are now lowering this ...Red Electrica is engaged in the transmission of electrical energy, the operation of the system and the management of the transmission network in the Spanish electricity system. In addition, through its subsidiaries, Co. is engaged in the acquisition, holding and management of foreign securities, co-ordination of international exchanges, provision of telecommunications services for third parties, provision of consultancy, engineering and construction services outside the Spanish electricity system, securing of funds, carrying out of financial transactions and provision of financial services.
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.
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