Red Eléctrica Corporación, S.A. Reports Earnings Results for the Half Year Ended June 30, 2022
July 26, 2022 at 11:03 pm EDT
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Red Eléctrica Corporación, S.A. reported earnings results for the half year ended June 30, 2022. For the half year, the company reported sales was EUR 1,034.36 million compared to EUR 1,000.07 million a year ago. Net income was EUR 363.03 million compared to EUR 358.17 million a year ago. Basic earnings per share from continuing operations was EUR 0.67 compared to EUR 0.66 a year ago. Diluted earnings per share from continuing operations was EUR 0.67 compared to EUR 0.66 a year ago.
Redeia Corporacion S.A. (formerly Red Eléctrica Corporación, S.A.) specializes in electricity transmission services and operation of electric networks. Net sales (including intragroup) by activity break down as follows:
- management and operation of electrical networks (82.7%): owning, at the end of 2022, of a network of 45,019 km of high-voltage lines and over 600 substations. The group also offers consulting, engineering, construction and maintenance services. Spain accounts for 95.8% of net sales;
- management and operation of satellite telecommunications networks (11.2%);
- management and operation of fiber optic telecoms networks (4.8%);
- other (1.3%).
Net sales are distributed geographically as follows: Spain (88.9%), Europe (1.6%) and other (9.5%).