Red Eléctrica earns 13.1% less, up to 621.2 million weighed down by the satellite area

Red Eléctrica has presented a result for the 2020 financial year of 621.2 million euros, 13.1% less than that achieved in 2019, or 703.0 million euros without considering the deterioration due to the adverse conditions of Covid-19, which has affected the activity of the satellite area, 1.8% below that obtained in 2019. The company has explained in a statement sent to the National Securities Market Commission (CNMV), that the satellite telecommunications activity It has been affected both by the duration of the crisis, which is longer and more severe than initially expected, and by the evolution of the Latin American markets where it operates. This situation has worsened, especially in the second half of 2020.

In relation to the main economic-financial figures of the Group in 2020, it should be noted that both the turnover and the EBITDA have been around 1% below that registered in 2019. The effect of the deterioration of satellite activity It is reflected in the EBIT, which decreased 14.2% compared to the previous year.

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