Naturgy reported a net profit of €1,215 million in the first half of the year, representing a 6% increase compared to the same period last year. The company also upgraded its 2026 forecast, targeting record earnings of more than €2,100 million for the full year, according to a company announcement.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the country’s largest gas company and third-largest power utility stood at €2,975 million at the end of June—a 4.5% increase compared to the same period in 2025. This performance occurred against a complex international backdrop marked by geopolitical uncertainty, driven by the escalating conflict in the Middle East and its specific impact on the energy market.
The company, chaired by Francisco Reynés, noted that this “solid performance” reflects the group’s diversification, operational resilience, and disciplined risk management, demonstrating that the company is “well-positioned to navigate a volatile energy environment through 2026.”
From January to June, Naturgy invested €844 million, primarily in distribution networks and renewable projects. Total installed renewable capacity reached 8.4 gigawatts (GW), with nearly 1.3 GW currently under construction, of which 629 MW are expected to enter operation during the second half of 2026.
Meanwhile, the group’s net debt at the end of June stood at €11,745 million, down from €12,317 million in 2025, supported by strong cash generation.
