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1. Company Snapshot

1.a. Company Description

Redeia Corporación, S.A. engages in the electricity transmission, and system operation and management of the transmission network for the electricity system in Spain and internationally.Its transmission network comprises approximately 45,019 kilometers; and has 94,221 MVA of transformation capacity.The company also provides advisory, engineering, and construction services; and telecommunications, financing, reinsurance, line and substation maintenance, technical consultancy, and satellite telecommunications services.


In addition, it manages and constructs energy storage facilities and the water cycle; acquires, holds, manages, and administers equity securities; operates satellite communications system and renders space segment services for the geostationary orbital slots; and sells and leases satellites and spatial capacity.The company was incorporated in 1985 and is based in Alcobendas, Spain.

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1.b. Last Insights on RED

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1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Spain’s Grid Operator Denies Risk of Imminent Power Blackout After Sharp Voltage Swings

Oct -14

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Is Redeia a Good Pick After Recent Earnings Amid 2025 Utilities Market Shifts?

Sep -15

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Spanish lobby warns saturated grid needs major investment for new connections

Sep -10

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The five seconds that plunged Spain into blackouts

Apr -29

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Spain, Portugal Hit by Sweeping Blackout

Apr -28

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Blackout risk ‘made worse by net zero’

Apr -28

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Spain, Portugal Hit by Sweeping Blackout

Apr -28

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Redeia Corporacion SA (RDEIF) Full Year 2024 Earnings Call Highlights: Record Investments and ...

Feb -27

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (2.56%)

6. Segments

Management and Operation of Electricity Infrastructure

Expected Growth: 2.5%

Redeia Corporación, S.A.'s 2.5% growth in Management and Operation of Electricity Infrastructure is driven by increasing demand for reliable energy, investments in grid modernization, and strategic acquisitions. Additionally, the company's focus on operational efficiency, cost reduction, and customer satisfaction also contribute to its growth.

Telecommunications - Satellites

Expected Growth: 2.8%

Redeia Corporación's satellite telecommunications segment growth of 2.8% is driven by increasing demand for high-speed internet and data services, government investments in satellite infrastructure, and growing adoption of IoT and 5G technologies. Additionally, the company's strategic partnerships and expansion into new markets have contributed to its growth.

Telecommunications - Fibre Optics

Expected Growth: 3.2%

Redeia Corporación, S.A.'s fibre optics segment growth of 3.2% is driven by increasing demand for high-speed internet and data services, government initiatives for digital infrastructure development, and strategic expansion into underserved regions. Additionally, the company's focus on network densification and upgrade to 5G-ready infrastructure also contributes to the growth.

Other, Corporate and Adjustments

Expected Growth: 1.8%

Redeia Corporación, S.A.'s 1.8% growth is driven by Other segment's increased investments in renewable energy, Corporate segment's cost savings initiatives, and Adjustments segment's favorable regulatory changes, leading to improved operational efficiency and enhanced profitability.

7. Detailed Products

Transmission Grid

Redeia Corporación, S.A. operates and manages the high-voltage transmission grid, ensuring the reliable and efficient transmission of electricity across Spain.

Grid Management

Redeia Corporación, S.A. provides grid management services, including monitoring, control, and maintenance of the transmission grid.

System Operation

Redeia Corporación, S.A. operates the Spanish electricity system, ensuring the balance between electricity generation and demand.

Market Operation

Redeia Corporación, S.A. operates the Spanish electricity market, facilitating the buying and selling of electricity between generators, distributors, and consumers.

International Connections

Redeia Corporación, S.A. manages international electricity connections, enabling the exchange of electricity between Spain and neighboring countries.

8. Redeia Corporación, S.A.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Redeia Corporación, S.A. is medium due to the availability of alternative energy sources and the increasing adoption of renewable energy.

Bargaining Power Of Customers

The bargaining power of customers for Redeia Corporación, S.A. is low due to the lack of switching costs and the company's strong brand reputation.

Bargaining Power Of Suppliers

The bargaining power of suppliers for Redeia Corporación, S.A. is medium due to the presence of multiple suppliers and the company's moderate dependence on them.

Threat Of New Entrants

The threat of new entrants for Redeia Corporación, S.A. is high due to the low barriers to entry and the increasing competition in the energy sector.

Intensity Of Rivalry

The intensity of rivalry for Redeia Corporación, S.A. is high due to the high competition in the energy sector and the company's moderate market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 51.56%
Debt Cost 3.95%
Equity Weight 48.44%
Equity Cost 6.08%
WACC 4.98%
Leverage 106.43%

11. Quality Control: Redeia Corporación, S.A. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Entergy

A-Score: 6.5/10

Value: 4.8

Growth: 3.6

Quality: 4.7

Yield: 7.0

Momentum: 9.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Terna RETE

A-Score: 6.4/10

Value: 4.2

Growth: 5.6

Quality: 5.1

Yield: 7.5

Momentum: 6.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Centrica

A-Score: 5.9/10

Value: 6.5

Growth: 5.6

Quality: 3.5

Yield: 3.1

Momentum: 9.0

Volatility: 8.0

1-Year Total Return ->

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Stock-Card
EVN

A-Score: 5.9/10

Value: 6.6

Growth: 6.6

Quality: 5.6

Yield: 5.6

Momentum: 2.5

Volatility: 8.7

1-Year Total Return ->

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Stock-Card
Redeia

A-Score: 5.5/10

Value: 4.1

Growth: 2.1

Quality: 5.2

Yield: 7.5

Momentum: 4.0

Volatility: 10.0

1-Year Total Return ->

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Stock-Card
Elia

A-Score: 4.8/10

Value: 4.5

Growth: 6.0

Quality: 3.7

Yield: 3.1

Momentum: 5.0

Volatility: 6.3

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

15.2$

Current Price

15.2$

Potential

-0.00%

Expected Cash-Flows