Key Indicators
Annual
| Results | Unit | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 * | 2011 |
|---|---|---|---|---|---|---|---|---|
| Turnover | €M | 561.5 | 545.3 | 537.1 | 570.9 | 576.0 | 589.0 | 530.8 |
| EBITDA | €M | 487.5 | 476.0 | 489.7 | 505.2 | 521.5 | 511.6 | 472.5 |
| EBIT | €M | 265.5 | 261.3 | 280.4 | 302.6 | 320.3 | 314.2 | 283.2 |
| Net financial income | €M | -61.2 | -80.3 | -98.6 | -113.8 | -142.2 | -136.0 | -103.4 |
| Income before taxes | €M | 204.3 | 181.4 | 181.5 | 188.8 | 178.0 | 178.2 | 179.8 |
| Net income | €M | 125.9 | 100.2 | 116.1 | 112.8 | 121.3 | 123.6 | 120.6 |
| Recurrent net income | €M | 154.8 | 126.1 | 118.1 | 140.3 | 120.7 | 120.2 | 131.0 |
Restated as requires by IAS 19.
| Debt | Unit | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|
| Net debt | M€ | 2,756.2 | 2,477.7 | 2,465.5 | 2,436.2 | 2,402.3 | 2,512.4 | 2,311.3 | |
| Average cost of debt | % | 2.5% | 3.2% | 4.1% | 4.7% | 5.5% | 5.7% | 4.7% | |
| Average debt maturity | Years | 4.1 | 5.1 | 4.2 | 3.9 | 4.4 | 3.2 | 3.9 | |
| DEBT STRUCTURE | |||||||||
| Sources of funding | M€ | ||||||||
| EIB | M€ | 458.0 | 497.1 | 573.5 | 560.9 | 698.2 | 698.2 | 739.4 | |
| Bond Issues * | M€ | 1,643.5 | 1,673.5 | 1,522.9 | 1,336.4 | 1,606.4 | 1,606.4 | 1,072.9 | |
| Commercial paper | M€ | 220.0 | 253.0 | 365.0 | 377.0 | 230.0 | 343.0 | 555.0 | |
| Other | M€ | 485.7 | 60.0 | 45.0 | 298.2 | 143.0 | 43.0 | 2.9 | |
| Type of rate | % | 100% | 100% | 100% | 100% | 100% | 100% | 100% | |
| Fixed | % | 64% | 64% | 53% | 45% | 52% | 71% | 66% | |
| Variable | % | 46% | 36% | 47% | 55% | 48% | 29% | 34% | |
*Includes exchange hedging
| Share | Unit | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|
| Year-end price | € | 2.479* | 2.698 | 2.782 | 2.406 | 2.238 | 2.055 | 2.110 |
| Annual return | % | 10.1% | 3.3% | 23.0% | 14.3% | 17.2% | 5.4% | -11.7% |
| Market capitalisation | M€ | 1,654 | 1,441 | 1,486 | 1,285 | 1,195 | 1,097 | 1,127 |
| Earnings per share | € | 0.19 | 0.19 | 0.22 | 0.21 | 0.23 | 0.23 | 0.23 |
| Dividend per share | € | 0.171** | 0.171 | 0.171 | 0.171 | 0.171 | 0.170 | 0.169 |
| Payout ratio | € | 90.6% | 91.1% | 78.6% | 81.0% | 75.3% | 73.4% | 74.8% |
| Dividend yield | % | 6.5% | 6.3% | 6.1% | 7.1% | 7.6% | 8.3% | 8.0% |
* 2017 adjusted to the capital increase.
** Dividend that the board of directors will propose in the general shareholders meeting.
| Other Indicators | Unit | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 |
|---|---|---|---|---|---|---|---|---|
| Average RAB | €M | 3,924.7 | 3,537.1 | 3,585.8 | 3,529.2 | 3,490.8 | 3,381.6 | 3,185.8 |
| CAPEX | €M | 155.6 | 171.5 | 240.4 | 163.3 | 187.8 | 201.1 | 349.4 |
| Net debt /EBITDA | x | 5.3x | 5.2x | 5.0x | 4.8x | 4.6x | 4.9x | 4.9x |
| FFO/Net debt | % | 11,7% | 11.4% | 12.2% | 12.4% | 11.6% | 13.3% | 11.6% |
| FFO interest coverage | x | 5.3x | 4.3x | 3.9x | 3.5x | 2.9x | 3.3x | 3.5x |
| No. of employees (1) | # | 693 | 608 | 620 | 641 | 676 | 735 | 739 |
| Electricity (2) | # | 214 | 229 | 229 | 236 | 263 | 304 | 310 |
| Gas (3) | # | 128 | 129 | 132 | 129 | 136 | 156 | 159 |
| Portgás | # | 90 | ||||||
| Other Business Unit (4) | # | 261 | 250 | 259 | 276 | 277 | 275 | 270 |
(1) Payroll + Fixed-term employees + trainees
(2) Electricity Grid
(3) REN Gasodutos + REN Armazenagem + REN Atlântico
(4) Concession support + Support functions + REN Trading + Enondas + Other
(2) Electricity Grid
(3) REN Gasodutos + REN Armazenagem + REN Atlântico
(4) Concession support + Support functions + REN Trading + Enondas + Other
Quarterly
| Results | Un. | 1H18 | 1Q18 | 2017 | 9M17 | 1H17 | 1Q17 | 2016 | 9M16 | 1H16 | 1Q16 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| EBITDA | €M | 252.4 | 128.4 | 487.5 | 364.4 | 242.7 | 123.7 | 476.0 | 357.2 | 240.2 | 121.1 | 489.7 |
| EBIT | €M | 134.8 | 69.7 | 265.5 | 201.6 | 134.1 | 69.3 | 261.3 | 196.6 | 133.2 | 44.1 | 280.4 |
| Net financial income | €M | -27.3 | -16.6 | -61.2 | -44.5 | -27.5 | -15.8 | -80.3 | -63.4 | -41.7 | -23.6 | -98.6 |
| Income before taxes | €M | 134.8 | 53,1 | 204.3 | 157.1 | 106.6 | 53.8 | 181.4 | 133.3 | 91.6 | 44.1 | 181.5 |
| Net income | €M | 52.8 | 13.1 | 125.9 | 88.9 | 53.0 | 13.5 | 100.2 | 70.5 | 40.5 | 6.1 | 116.1 |
| Recurrent net income | €M | 78.4 | 38.4 | 154.8 | 116.9 | 80.9 | 39.3 | 126.1 | 96.4 | 66.5 | 32.0 | 118.1 |
| Debt | Un. | 1H18 | 1Q18 | 2017 | 9M17 | 1H17 | 1Q17 | 2016 | 9M16 | 1H16 | 1Q16 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net debt | €M | 2,686.7 | 2,643.7 | 2,756.2 | 2,540.6 | 2,577.4 | 2,543.5 | 2,477.7 | 2,484.9 | 2,526.5 | 2,473.2 | 2,465.5 | |
| Average cost of debt | % | 2.3% | 2.3% | 2.5% | 2.6% | 2.6% | 2.6% | 3.2% | 3.4% | 3.5% | 3.7% | 4.1% | |
| Average debt maturity | Years | 4.8 | 5.0 | 4.1 | 4.4 | 4.5 | 4.7 | 5.1 | 4.7 | 4.7 | 3.9 | 4.2 | |
| DEBT STRUCTURE | |||||||||||||
| Sources of funding | |||||||||||||
| EIB | M€ | 443.7 | 457.3 | 458.0 | 458.7 | 483.7 | 497.1 | 497.1 | 524.6 | 559.6 | 573.5 | 573.5 | |
| Bond issues* | M€ | 1,750.7 | 1,750.7 | 1,643.5 | 1,643.5 | 1,643.5 | 1,643.5 | 1,673.5 | 1,473.5 | 1,773.5 | 1,492.9 | 1,552.9 | |
| Commercial paper | €M | 150.0 | 150.0 | 220.0 | 375.2 | 430.7 | 388.0 | 253.0 | 510.5 | 232.5 | 427.0 | 365.0 | |
| Other | €M | 400.7 | 398.3 | 485.7 | 47.5 | 47.6 | 45.0 | 63.2 | 47.3 | 47.5 | 47.8 | 45.0 | |
| Type of rate: | |||||||||||||
| Fixed | % | 61% | 60% | 54% | 60% | 61% | 62% | 64% | 51% | 61% | 52% | 53% | |
| Variable | % | 39% | 40% | 46% | 40% | 39% | 38% | 36% | 49% | 39% | 48% | 47% | |
*Includes exchange hedging
| Share | Un. | 1H18 | 1Q18 | 2017 | 9M17 | 1H17 | 1Q17 | 2016 | 9M16 | 1H16 | 1Q16 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | € | 2.400 | 2.508 | 2.479* | 2.754 | 2.741 | 2.821 | 2.698 | 2.603 | 2.533 | 2.882 | 2.782 |
* 2017 adjusted to the capital increase.
| Other Indicators | Un. | 1H18 | 1Q18 | 2017 | 9M17 | 1H17 | 1Q17 | 2016 | 9M16 | 1H16 | 1Q16 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Average RAB | €M | 3,855.2 | 3,877.8 | 3,924.7 | 3,462.5 | 3,470.3 | 3,495.3 | 3,537.1 | 3,502.0 | 3,522.8 | 3,542.1 | 3,585.8 |
| CAPEX | €M | 39.4 | 13.9 | 155.6 | 80.3 | 41.0 | 13.2 | 171.5 | 73.4 | 37.6 | 11.3 | 240.0 |
| Net debt /EBITDA | x | 5.3x | 5.1x | 5.3x | 5.2x | 5.3x | 5.1x | 5.2x | 5.2x | 5.3x | 5.1x | 5.0x |
| FFO/Net debt | % | 12.2% | 11.8% | 11.7% | 11.2% | 11.2% | 10.6% | 11.4% | 11.5% | 11.6% | 11.2% | 12.2% |
| FFO interest coverage | x | 6.2x | 5.6x | 5.3x | 5.2x | 5.3x | 5.3x | 4.3x | 4.1x | 4.2x | 3.9x | 3.9x |
| No. of employees (1) | # | 688 | 695 | 693 | 609 | 610 | 608 | 608 | 619 | 618 | 621 | 620 |
| Electricity (2) | # | 215 | 215 | 214 | 219 | 220 | 221 | 230 | 234 | 229 | 229 | 230 |
| Gas (3) | # | 125 | 127 | 128 | 130 | 130 | 125 | 129 | 131 | 130 | 132 | 132 |
| Portgás | # | 83 | 90 | |||||||||
| Other Business Unit (4) | # | 265 | 264 | 261 | 260 | 260 | 262 | 249 | 254 | 259 | 260 | 258 |
(1) Payroll + Fixed-term employees + trainees
(2) Electricity Grid
(3) REN Gasodutos + REN Armazenagem + REN Atlântico
(4) Concession support + Support functions + REN Trading + Enondas + Other
(2) Electricity Grid
(3) REN Gasodutos + REN Armazenagem + REN Atlântico
(4) Concession support + Support functions + REN Trading + Enondas + Other