ENDESA Profits Fall

3 November 2009 (Last Updated November 3rd, 2009 18:30)

The Spanish utility ENDESA has reported a net income of €3.05bn in the first nine months of 2009, representing a 55% decline compared to the same period last year. The company's electricity output for the first nine months of 2009 decreased by 6.2% to 105,369 Gwh compared to the same pe

The Spanish utility ENDESA has reported a net income of €3.05bn in the first nine months of 2009, representing a 55% decline compared to the same period last year.

The company's electricity output for the first nine months of 2009 decreased by 6.2% to 105,369 Gwh compared to the same period in 2008 due to reduced electricity demand, especially in Spain.

In spite of reduced output levels, the company's revenues for the first nine months of the year increased by 5.9% to €18.49bn.

ENDESA's EBIT for the first nine months of the year was €4.03bn, representing a 2.4% rise compared to the same period in 2008.

In September, the company began operations at the 193MW open-cycle facility in Santa Rosa, Peru and the 257MW Quintero open-cycle gas station in Chile.

Construction work continued on the Chile-based Canela II 60MW wind farm and Bocamina II 370MW coal-fuelled thermal station, the company said.