Over the past six years, the Spanish energy sector has undergone a remarkable transformation, characterised by increased financial results and asset growth among leading companies.

According to an analysis by Alfonso Zárate Conde, the collective results of these companies have risen by 2.8 billion euros, representing a 34% increase

Fuente: Alfonso Zárate Conde

This growth highlights the role of companies like Iberdrola, Red Eléctrica, and Repsol in consolidating the sector, while other firms face challenges due to regulatory factors and investor pressure.

In an interview with Energía Estratégica España, the analyst explains that these companies not only demonstrate solid asset increases but also maintain sustainable strategies that contrast with those of other sector players.

During this period, value creation in the energy sector’s assets has reached ten billion euros, averaging a ten per cent increase.

Value creation and pure industrial project

The sector’s assets grew by ten billion euros, nearly a ten per cent increase, with Iberdrola and REE standing out due to significant asset growth, achieving long-term value creation of nearly twenty billion euros.

Source: Alfonso Zárate Conde

Zárate highlights the “pure industrial project” within these companies, emphasising their commitment to a sustainable growth strategy and value creation within a solid and diversified structure.

He also underscores Repsol‘s role in maintaining asset stability and its capacity to generate employment, aligning with a similar sustainable growth trajectory.

On the other hand, companies like Naturgy and Endesa have experienced a different evolution, impacted by dividend pressure and asset loss.

The “asset stripping” of these firms is notable in Zárate’s analysis, as he points out that these companies have lost approximately eight billion euros in net assets, suggesting that ownership structure and the pressure to maximise dividends hinder their ability to invest in long-term projects.

Employment and Growth Strategies

The sector has lost more than 3.000 jobs over the past six years, representing a reduction of 6.5 per cent.

Source: Alfonso Zárate Conde