Profits of the Red Eléctrica Group reach 228 million euros
The Red Eléctrica Group registered profits of 228.4 million euros in the first half of 2011, an increase of 17.4% over the same period last year. The net turnover of Red Eléctrica grew 24.1% with respect to 2010, reaching 806.8 million euros. This increase in revenues is due in a 62% to the incorporation of the transmission assets acquired in the second half of 2010.
In the first six months of 2011 company investment in the electricity transmission grid reached 345.8 million euros, signifying a growth of 8.4% compared to the same period last year. In the first half of 2011, total investments of the Group were 8% above those of 2010, reaching 351.8 million euros.
The gross operating result (EBITDA) generated during the first six months of 2011 was 608.3 million euros, 28.8% more than the first half of 2010.
In July 2011, Red Eléctrica formalised a new line of credit for 600 million euros over a term of five years. This operation strengthens the company's sound liquidity position, making it possible to guarantee the refinancing of the current syndicated credit line with a maturity date of July 2012.
The company's General Shareholder's Meeting, held on 13 April, approved the payout of a dividend of 1.8751 euros per share, equivalent to 65% of the payout per share. For this reason, on 1 July a payment of 1.2869 euros per share was made regarding the gross complementary dividend per share corresponding to the 2010 fiscal year.