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Ignacio Domenech

Research Analyst at JB Capital LLC

Ignacio Domenech is an Equity Analyst at JB Capital Markets Sociedad de Valores SA, specializing in coverage of major Spanish energy and utility companies such as Repsol and Red Electrica Corporacion. He has participated in earnings calls and contributed to sector analysis, though specific public rankings or quantified performance metrics are not broadly disclosed. Domenech began his equity research career at Exane SA in Spain, later holding analyst roles at Raymond James Financial International and Stifel Europe Bank AG before joining JB Capital in January 2020. He holds a BA in Administration & Finance from Universidad San Pablo CEU and a BBA in Financial Markets from Boston University.

Ignacio Domenech's questions to Red Electrica Corporacion SA/ADR (RDEIY) leadership

Question · Q2 2022

Ignacio Domenech of JB Capital inquired about three topics: the potential impact of Spain's windfall tax on Redeia, the expected financial contribution from its Brazilian operations for the full year, and the details surrounding the positive working capital and year-end net financial debt forecast.

Answer

CEO Roberto García Merino stated that as a regulated TSO with no windfall profits from energy prices, Redeia does not expect to be affected by the tax. He also projected a continued positive and significant impact from the Brazilian business for the full year. CFO Emilio Cerezo explained that the positive working capital from a provisional tariff was €450 million, which will be regularized, and projected a year-end net financial debt of around €5 billion.

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