Enagás presented its results for the first nine months of the fiscal year (9M2025) yesterday. The total demand for natural gas and exports in 9M2025 stood at 267.6 TWh, 6.6% higher than the figure recorded in the same period of 2024.
In this context, the company raised its revenue figure by 6.9% year-on-year, reaching €711.2 million (+2.6% compared to the FactSet consensus). Of this amount, €693.0 million (+6.8% year-on-year) corresponded to regulated revenue.
The change in the revenue figure is explained by the impact of the regulatory framework (around -€43 million), compensated by the increase in other regulated revenues (mainly due to the start of work on sealing the Castor wells, which is offset at the EBITDA level in the expenses line).
Net financial debt as of September 30, 2025, stood at €2,347 million, representing a reduction of €57 million since the close of 2024.
Profit after tax, excluding the impact of asset rotation, rose to €206.9 million, an amount 11.4% lower than in the same period of the previous year. Recurring profit after tax in 2025 is advancing as planned to meet the annual target of €265 million.
