2021 Report
The results for the year as of December 2021 show strong growth in all items, driven by both the Generation business in Spain and the International business, despite lower production than expected.
The reduction in financial costs thanks to the group’s new financial structure has contributed significantly to the strong growth in results.
| FY 2021 | % Var vs FY 2020 | |
|---|---|---|
| Revenues | 2,472 | 40 % |
| Generation Revenues | 1,517 | 23 % |
| EBITDA | 1,086 | 25 % |
| EBT | 562 | 71 % |
| Attributable net profit | 363 | 77 % |
| FY 2021 (€m) | FY 2020 (€m) | |
|---|---|---|
| Net investment cash flow | 819 | 577 |
| 31 dec 2021 (€m) | 31 dec 2020 (€m) | |
|---|---|---|
| Net financial debt | 1,989 | 3,636 |
| Net financial debt/EBITDA | 1.83 x | 4.19 x |
| FY 2021 (€m) | % Var vs FY 2020 | |
|---|---|---|
| Total capacity (MW) | 11,245 | 5 % |
| Consolidated capacity (MW) | 9,169 | 6 % |
| Total production (GWh) | 24,541 | 2 % |
| Consolidated production (GWh) | 20,093 | 3 % |
| Supply volumes Spain & Portugal (GWh) | 7,254 | 16 % |
| Average Load Factor (%) | 26.3 % | -0.3 pp |
| Production contracted (%) | 84.1 % | +5.8 pp |
| Average residual contracted life (years) | 8 | n.a. |
| Average age of assets (apart from hydro) | 12 | n.a. |
| Average price (€/MWh) | 75.5 | 19 % |
| EBITDA Generation margin (%) | 73.5 % | +4.9 pp |
| Availability (%) | 96.5 % | -0.4 pp |
| Social | FY 2021 | FY 2020 | Var |
|---|---|---|---|
| Workforce (nº) | 1,762 | 1,543 | 14.2 % |
| Female executive managers (% of total) | 23.2 % | 20.9 % | +2.3 pp |
| Social Impact Management projects (nº) | 36 | 32 | 12.5 % |
| Social Impact Management beneficiaries (1,000 people) | 261 | 217 | 20.1 % |
| Accidents: global frequency rate (own employees and subcontractors) | 0.61 | 0.53 | +0.08 |
| Environmental | FY 2021 | FY 2020 | Var |
|---|---|---|---|
| CAPEX aligned with low-carbon taxonomy (%) | 100 % | 100 % | - |
| Renewable production (GWh) | 24,541 | 24,075 | 1.9 % |
| Emissions avoided (millions of tonnes of CO2) | 13.4 | 13.2 | 1.5 % |
| Scope 1 & 2 emissions generated (thousands of tonnes of CO2) | 14.3 | 25.6 | -44.1 % |
| Non-hazardous waste to landfill (thousand tonnes) | 1.2 | 2.34 | -49.0 % |
| Recovered waste | 97 % | 93 % | +4.0 pp |
| Water used (hm3) | 0.95 | 0.95 | - |
| Trees planted to offset emissions | 74,947 | n.a. | n.a. |