Q1 2022 Endesa SA Earnings Call Transcript
Good morning, ladies and gentlemen, and welcome to the First Q 2022 Results Presentation, which, as always, will be hosted by our CEO, José Bogas; and the CFO, Luca Passa. Following the presentation, we will have the usual Q&A session open to those connected on the call and on the web. Thank you. And now let me hand over to José Bogas.
Thank you, Mar, and good morning, everybody. Let's start with the highlights of the period.
The result we present today are clearly marked by the persistent instability in the macro context and increased gas volatility in market worldwide. Coupled with the headwind of a war scenario in Ukraine, we have witnessed a new all-time record pool prices across all European countries, with growing inflation, have led the European Union to allow governments' intervention in their energy markets.
Our operating results could not be immune to this context, leading to a 10% drop in EBITDA while net ordinary
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