Naturgy has managed to repeat in the first half of this year 2024 the record results obtained last year in a context of a sharp global decline in energy prices. The energy company obtained up to June an Ebitda of €2,846 million and a net profit of €1,043 million, both at the same level as last year.
The good results up to June and the outlook for the second half of the year allow Naturgy to communicate forecasts for the current financial year as a whole that are above the current consensus. Thus, Ebitda would exceed €5,300 million and net profit would exceed €1,800 million.
Investment in the first half of the year amounted to €947 million, similar to last year’s level, and focused on the renewables and networks businesses. The company has simultaneously managed to reduce its indebtedness to €11,838 million, reducing the volume of fixed-rate debt to 70% and strengthening its liquidity, which reached €9,800 million.
Investments will total €2.6 billion for the year as a whole. It will be mainly allocated to activities linked to decarbonization, increasing the renewable capacity in operation in Spain, Australia and the United States, and reinforcing the electricity and gas networks.
The strong growth has also led the energy company to announce that it will prepare, by the end of the year, a new Strategic Plan for the period 2025-30, which will be duly communicated to the market.
Naturgy has just closed an agreement with Sonatrach on the price of Algerian natural gas supply for 2024. “The closing of this latest negotiation confirms Naturgy’s ability to reach agreements in competitive contexts. It also highlights the strength of the historical relationship between the parties and ratifies the commitment of both companies to the security of supply to the Iberian Peninsula. Sonatrach thus proves to be a reliable partner,” said Naturgy CEO Francisco Reynés.
