Investment in the transmission grid grew to 107.2 million
Red Eléctrica Group obtains net profit of 105 million euros in the first quarter 2010

In the first quarter of the year, the Red Eléctrica Group obtained a net profit of 104.6 million euros, representing an increase of 13.4% compared to the same period last year.

The net turnover for the first three months of 2010 reached 319.9 million euros, representing a growth of 9.5% with respect to the same period in 2009, largely due to the increase in the remunerated asset base owing to the facilities commissioned last year.

Regarding gross operating result (EBITDA), this was 235.9 million euros, 7.5% higher than in the first quarter of 2009. This figure reflects the increased growth of 14.2% in operating costs linked to the increased asset base.

During the first three months of the year, the Red Eléctrica Group invested 107.7 million euros, 0.7% more than in the first quarter last year. This figure corresponds mainly to the development of the national transmission grid in which investments grew to 107.2 million euros.

Key financial figures

Relevant facts this quarter
Interim dividend payment. On 4 January, Red Eléctrica paid out to its shareholders an interim dividend against 2009 profits of 0.5115 euro per share, up 14% on the previous year, and which has signified a total payout of 69 million euros.

New credit facility for a total of 600 million euros. In order to support the 2009-2011 Investment Plan, the European Investment Bank (EIB) has granted the Red Eléctrica Group a credit facility amounting to 600 million euros, through one or various tranches and with a timeline of up to 20 years, at fixed and variable rates.