Endesa, S.A. (OTCPK:ELEZF) Q2 2025 Earnings Conference Call July 29, 2025 4:00 AM ET
Company Participants
Jose Damian Bogas Galvez – CEO & Executive Director
Mar Martinez – Head of Investor Relations
Marco Palermo – General Manager of Administration, Finance & Control
Conference Call Participants
Alberto Gandolfi – Goldman Sachs Group, Inc., Research Division
Arturo Murua Daza – Jefferies LLC, Research Division
Fernando Garcia – RBC Capital Markets, Research Division
Javier Suarez Hernandez – Mediobanca—Banca di credito finanziario S.p.A., Research Division
Jenny Ping – Citigroup Inc., Research Division
Jorge Guimarães – JB Capital Markets, Sociedad de Valores, S.A., Research Division
Manuel Gonzalez Palomo – BNP Paribas Exane, Research Division
Pedro António Alves – Banco BPI, S.A., Research Division
Peter Andrew Bisztyga – BofA Securities, Research Division
Robert John Pulleyn – Morgan Stanley, Research Division
Mar Martinez
Good morning to all the people connected. Welcome to the first half 2025 results presentation, which will be hosted as always by Endesa CEO, Jose Bogas; and the CFO, Marco Palermo. Following the presentation, we will have the usual Q&A session open to those connected on the call and on the web.
Thank you. And now let me hand over to Jose Bogas.
Jose Damian Bogas Galvez
Thank you, Mar, and good morning, everybody. I would like to open this presentation by highlighting the solid performance delivered across all our businesses during the first half of 2025. This has led to a strong cash generation and operating results, confirming the strength and resilience of our business model. The energy framework during this period was marked by the April 28 blackout and the implementation of the subsequent measures, mainly aimed at reinforcing security of supply as well as we will elaborate on later during the presentation.
Today, more than ever, Spain needs to bring its network investment
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