Naturgy earned up to September 1.061 billion euros, which represents a growth of more than 36% in an environment of high volatility in prices in the international energy markets and in a time of “high regulatory uncertainty”. In the first nine months, investments have grown by 26% to 2.6 billion euros. The board of directors has approved an interim dividend of 0.40 euros for the financial year 2022, which will be paid on 18 November.
Turnover soared to 27.011 billion euros, compared to 14.558 million euros in the same period of 2021, an 85.5% increase. Net debt to September reached 10.252 billion euros. According to the company, this figure does not reflect the relevant cash outflows expected in the last quarter, such as the amortisation of the hybrid bond or the retroactive payment associated with the gas price review with Sonatrach, closed last October. Considering the current market evolution forecasts, the financial team expects to close 2022 with debt in line with last year. The agencies S&P and Fitch have confirmed the company’s BBB rating.
Despite the complex macroeconomic environment, Naturgy maintains its investment commitment contained in the Strategic Plan, which provides for 14 billion euros in organic development until the end of the period 2021-2025. The company’s roadmap will focus on the development of its gas and electricity distribution networks, renewable electricity generation and the development of renewable gases.
“Our commitment to investment within the framework of the Strategic Plan is solid and is supported by all our major shareholders,” said Francisco Reynés, Chairman of the company. “We want to be a relevant player in the evolution of the sector towards a realistic energy transition that is compatible with our environment”, he added.