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oldmouseit

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Endesa

ov 23 (Reuters) - Spanish power utility Endesa (ELE.MC) on Wednesday said it expects higher profits than previously this year but high inflation and a new windfall tax in Spain will weigh on its profitability in the following years.

The company, which is 70% owned by Italian power giant Enel (ENEL.MI), raised its net profit target for this year to between 2.2 billion euros ($2.27 billion) and 2.3 billion euros from a prior 1.8 billion euro target.

Net profit would fall later to between 1.4 billion euros and 1.5 billion in 2023 and to between 1.7 billion euros and 1.8 billion euros in 2024.

Earnings before interest, taxes, depreciation and amortisation will end this year at 5 billion euros to 5.3 billion, up from a previous forecast of 4.1 billion, but are seen falling to 4.4 billion euros to 4.7 billion in 2023.

Power utilities have seen their profitability increase in Spain as power and gas prices, boosted by crises in the energy market in Europe, rose faster than costs, although the government has announced a new tax on the sector to finance subsidies.

Endesa's parent company, Enel, and other power utilities have said they would challenge the tax in courts.
 

triale

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Web sim alza il tp di Enel a 6,30 e rafforza la sua valutazione positiva sul titolo...
 

skolem

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