New Risk • May 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 14% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (14% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Apr 30
First quarter 2026 earnings released First quarter 2026 results: EPS: €0.26. Revenue: €461.4m (up 10% from 1Q 2025). Net income: €140.3m (up 1.8% from 1Q 2025). Profit margin: 30% (down from 33% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.8% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Apr 11
Redeia Corporación, S.A., Annual General Meeting, May 12, 2026 Redeia Corporación, S.A., Annual General Meeting, May 12, 2026. Declared Dividend • Mar 02
Final dividend of €0.49 announced Shareholders will receive a dividend of €0.49. Ex-date: 29th June 2026 Payment date: 1st July 2026 Dividend yield will be 4.1%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (85% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 12% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Mar 02
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.90 (down from €0.94 in FY 2024). Revenue: €1.73b (up 4.4% from FY 2024). Net income: €505.6m (flat on FY 2024). Profit margin: 29% (down from 31% in FY 2024). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 3.2%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.4% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Upcoming Dividend • Dec 29
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 05 January 2026. Payment date: 07 January 2026. Payout ratio is on the higher end at 85% but the company is not cash flow positive. Trailing yield: 5.3%. Within top quartile of Spanish dividend payers (5.3%). Higher than average of industry peers (4.1%). New Risk • Oct 31
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Oct 30
Third quarter 2025 earnings released Third quarter 2025 results: EPS: €0.22. Revenue: €424.0m (down 9.7% from 3Q 2024). Net income: €120.3m (down 14% from 3Q 2024). Profit margin: 28% (down from 30% in 3Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.6% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Electric Utilities industry in Europe. New Risk • Aug 03
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 17% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. New Risk • Aug 01
New minor risk - Financial position The company has a high level of debt. Net debt to equity ratio: 79% This is considered a minor risk. Having a high level of debt increases the company's balance sheet risk. The company has a higher interest repayment burden, leading to the need to allocate a greater amount of its earnings towards servicing the debt, potentially limiting growth options or shareholder distributions. It can also increase the risk of bankruptcy if business conditions deteriorate enough that the company can no longer meet its debt obligations. Currently, the following risks have been identified for the company: Minor Risks High level of debt (79% net debt to equity). Paying a dividend despite having no free cash flows. Reported Earnings • Jul 31
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €456.2m (down 2.9% from 2Q 2024). Net income: €131.7m (down 3.9% from 2Q 2024). Profit margin: 29% (in line with 2Q 2024). Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 1.9% growth forecast for the Electric Utilities industry in Europe. Upcoming Dividend • Jun 27
Upcoming dividend of €0.49 per share Eligible shareholders must have bought the stock before 04 July 2025. Payment date: 08 July 2025. Payout ratio is on the higher end at 85% but the company is not cash flow positive. Trailing yield: 4.4%. Lower than top quartile of Spanish dividend payers (4.8%). In line with average of industry peers (4.5%). Board Change • Jun 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 9 experienced directors. 2 highly experienced directors. External Independent Director Guadalupe de la Munoz was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 28
Redeia Corporación, S.A., Annual General Meeting, Jun 30, 2025 Redeia Corporación, S.A., Annual General Meeting, Jun 30, 2025. New Risk • May 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 12% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (12% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 02
First quarter 2025 earnings released First quarter 2025 results: EPS: €0.26. Revenue: €418.9m (down 11% from 1Q 2024). Net income: €137.8m (up 4.2% from 1Q 2024). Profit margin: 33% (up from 28% in 1Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.7% p.a. on average during the next 3 years, compared to a 2.1% growth forecast for the Electric Utilities industry in Europe. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. New Risk • Apr 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 15% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (15% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Declared Dividend • Feb 28
Final dividend of €0.49 announced Shareholders will receive a dividend of €0.49. Ex-date: 27th June 2025 Payment date: 1st July 2025 Dividend yield will be 3.8%, which is lower than the industry average of 4.3%. Sustainability & Growth Dividend is covered by both earnings (83% earnings payout ratio) and cash flows (53% cash payout ratio). The dividend has increased by an average of 3.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 24% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 27
Full year 2024 earnings: Revenues miss analyst expectations Full year 2024 results: Revenue: €1.71b (down 19% from FY 2023). Net income: €506.6m (down 27% from FY 2023). Profit margin: 30% (down from 33% in FY 2023). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 14%. Revenue is forecast to grow 6.1% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Electric Utilities industry in Europe. Major Estimate Revision • Feb 06
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €1.89b to €1.85b. EPS estimate also fell from €0.93 per share to €0.834 per share. Net income forecast to shrink 12% next year vs 9.2% growth forecast for Electric Utilities industry in Spain . Consensus price target broadly unchanged at €18.33. Share price was steady at €16.34 over the past week. Announcement • Jan 23
Redeia Corporación, S.A. to Report Nine Months, 2025 Results on Oct 29, 2025 Redeia Corporación, S.A. announced that they will report nine months, 2025 results on Oct 29, 2025 Announcement • Jan 15
Redeia Corporación, S.A. to Report Fiscal Year 2024 Results on Feb 26, 2025 Redeia Corporación, S.A. announced that they will report fiscal year 2024 results on Feb 26, 2025 Upcoming Dividend • Dec 27
Upcoming dividend of €0.16 per share Eligible shareholders must have bought the stock before 03 January 2025. Payment date: 07 January 2025. Payout ratio is on the higher end at 83%, and the cash payout ratio is above 100%. Trailing yield: 5.6%. Within top quartile of Spanish dividend payers (5.6%). Higher than average of industry peers (5.0%). New Risk • Nov 05
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 16% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (16% operating cash flow to total debt). Minor Risk Dividend is not well covered by cash flows (dividend per share is over 6x cash flows per share). Reported Earnings • Nov 01
Third quarter 2024 earnings released Third quarter 2024 results: EPS: €0.26. Revenue: €469.5m (down 12% from 3Q 2023). Net income: €139.5m (down 23% from 3Q 2023). Profit margin: 30% (down from 34% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Electric Utilities industry in Europe. New Risk • Aug 02
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 11% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Aug 02
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: €507.5m (up 3.6% from 2Q 2023). Net income: €137.0m (down 21% from 2Q 2023). Profit margin: 27% (down from 36% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Electric Utilities industry in Europe. Board Change • Jul 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 3 highly experienced directors. Proprietary Director Esther Maria Martinez was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Jun 07
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 13% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (13% operating cash flow to total debt). Minor Risk Paying a dividend despite having no free cash flows. Announcement • May 03
Redeia Corporación, S.A., Annual General Meeting, Jun 03, 2024 Redeia Corporación, S.A., Annual General Meeting, Jun 03, 2024, at 11:00 Central European Standard Time. Location: office located at Paseo del Conde de los Gaitanes 177, Alcobendas, Madrid Madrid Spain Agenda: To consider and approve, if applicable, the financial statements; to consider Examine and approve, if applicable, the Consolidated Financial Statements and the Consolidated Directors Report of the Group Consolidated of company and subsidiaries for 2023; to consider Examine and approve, if applicable, the proposed allocation of profits for the year ended 31 december 2023 and distribution of dividends; and to consider other business matters. Reported Earnings • May 01
First quarter 2024 earnings released First quarter 2024 results: EPS: €0.24. Revenue: €488.4m (down 14% from 1Q 2023). Net income: €132.3m (down 27% from 1Q 2023). Profit margin: 27% (down from 32% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.0% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Spain are expected to remain flat. Declared Dividend • Mar 01
Final dividend of €0.59 announced Shareholders will receive a dividend of €0.59. Ex-date: 27th June 2024 Payment date: 1st July 2024 Dividend yield will be 5.5%, which is higher than the industry average of 4.3%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (110% cash payout ratio). The dividend has increased by an average of 5.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 5.1% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Feb 29
Full year 2023 earnings released Full year 2023 results: Revenue: €2.19b (up 5.3% from FY 2022). Net income: €689.6m (up 3.7% from FY 2022). Profit margin: 32% (in line with FY 2022). Revenue is forecast to stay flat during the next 3 years compared to a 2.6% growth forecast for the Electric Utilities industry in Spain. Buy Or Sell Opportunity • Feb 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.6% to €14.52. The fair value is estimated to be €18.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are forecast to decline by 2.8% per annum over the same time period. Buy Or Sell Opportunity • Feb 09
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 1.8% to €14.50. The fair value is estimated to be €18.25, however this is not to be taken as a buy recommendation but rather should be used as a guide only. For the next 3 years, revenue is forecast to grow by 1.1% per annum. Earnings are forecast to decline by 2.8% per annum over the same time period. Announcement • Dec 27
Redeia Corporación, S.A. to Report Fiscal Year 2023 Results on Feb 28, 2024 Redeia Corporación, S.A. announced that they will report fiscal year 2023 results on Feb 28, 2024 Upcoming Dividend • Dec 27
Upcoming dividend of €0.22 per share at 6.7% yield Eligible shareholders must have bought the stock before 03 January 2024. Payment date: 05 January 2024. Payout ratio is on the higher end at 82% but the company is not cash flow positive. Trailing yield: 6.7%. Within top quartile of Spanish dividend payers (5.8%). Higher than average of industry peers (5.4%). Reported Earnings • Nov 02
Third quarter 2023 earnings released Third quarter 2023 results: EPS: €0.34. Revenue: €624.8m (up 20% from 3Q 2022). Net income: €181.0m (down 4.0% from 3Q 2022). Profit margin: 29% (down from 36% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Spain. Announcement • Sep 23
Redeia Corporación, S.A. to Report Nine Months, 2023 Results on Oct 31, 2023 Redeia Corporación, S.A. announced that they will report nine months, 2023 results on Oct 31, 2023 New Risk • Jul 28
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Earnings are forecast to decline by an average of 6.3% per year for the foreseeable future. Minor Risk Dividend is not well covered by cash flows (128% cash payout ratio). Reported Earnings • Jul 27
Second quarter 2023 earnings released Second quarter 2023 results: Revenue: €524.8m (up 1.1% from 2Q 2022). Net income: €173.9m (down 3.9% from 2Q 2022). Profit margin: 33% (down from 35% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Spain. Over the last 3 years on average, earnings per share has remained flat whereas the company’s share price has fallen by 3% per year. Upcoming Dividend • Jun 22
Upcoming dividend of €0.59 per share at 6.2% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 03 July 2023. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 6.2%. Within top quartile of Spanish dividend payers (6.0%). Higher than average of industry peers (4.9%). Reported Earnings • Apr 28
First quarter 2023 earnings released First quarter 2023 results: EPS: €0.33. Revenue: €565.8m (up 9.8% from 1Q 2022). Net income: €180.4m (flat on 1Q 2022). Profit margin: 32% (down from 35% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Electric Utilities industry in Spain. Reported Earnings • Mar 02
Full year 2022 earnings released: EPS: €1.23 (vs €1.26 in FY 2021) Full year 2022 results: EPS: €1.23 (down from €1.26 in FY 2021). Revenue: €2.08b (up 3.4% from FY 2021). Net income: €664.7m (down 2.3% from FY 2021). Profit margin: 32% (down from 34% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to decline by 2.2% p.a. on average during the next 3 years, while revenues in the Electric Utilities industry in Spain are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has fallen by 4% per year. Upcoming Dividend • Dec 29
Upcoming dividend of €0.22 per share Eligible shareholders must have bought the stock before 05 January 2023. Payment date: 09 January 2023. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 6.1%. Within top quartile of Spanish dividend payers (6.0%). Higher than average of industry peers (4.4%). Board Change • Nov 16
High number of new directors There are 6 new directors who have joined the board in the last 3 years. Director Esther Rituerto Martinez was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jul 28
Second quarter 2022 earnings: Revenues in line with analyst expectations Second quarter 2022 results: Revenue: €546.9m (up 8.3% from 2Q 2021). Net income: €180.9m (up 2.2% from 2Q 2021). Profit margin: 33% (down from 35% in 2Q 2021). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the next year, revenue is expected to shrink by 1.9% compared to a 4.9% growth forecast for the industry in Spain. Upcoming Dividend • Jun 22
Upcoming dividend of €0.59 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 01 July 2022. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 5.4%. Lower than top quartile of Spanish dividend payers (5.7%). Higher than average of industry peers (4.5%). Reported Earnings • Apr 28
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: €0.34. Revenue: €515.2m (up 4.0% from 1Q 2021). Net income: €182.1m (flat on 1Q 2021). Profit margin: 35% (down from 37% in 1Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is expected to shrink by 1.8% compared to a 5.7% growth forecast for the industry in Spain. Over the last 3 years on average, earnings per share has fallen by 2% per year whereas the company’s share price has increased by 2% per year. Board Change • Apr 27
High number of new directors There are 6 new directors who have joined the board in the last 3 years. External Independent Director Marcos Vaquer Caballeria was the last director to join the board, commencing their role in 2021. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 24
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: €1.26 (up from €1.15 in FY 2020). Revenue: €2.01b (down 1.7% from FY 2020). Net income: €680.6m (up 9.6% from FY 2020). Profit margin: 34% (up from 30% in FY 2020). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Over the next year, revenue is expected to shrink by 1.2% compared to a 7.2% growth forecast for the industry in Spain. Over the last 3 years on average, earnings per share has fallen by 3% per year whereas the company’s share price has fallen by 5% per year. Upcoming Dividend • Dec 29
Upcoming dividend of €0.22 per share Eligible shareholders must have bought the stock before 05 January 2022. Payment date: 07 January 2022. Payout ratio is on the higher end at 81%, however this is supported by cash flows. Trailing yield: 5.3%. Lower than top quartile of Spanish dividend payers (5.4%). Higher than average of industry peers (3.9%).