Alphavalue/Divacons | Enagás Renovable plans to invest around €2.5 billion over the coming years to consolidate its commitment to green molecules, particularly renewable hydrogen and biomethane. The company regards these energy sources as strategic elements for strengthening energy self-sufficiency, promoting reindustrialisation and creating jobs in Spain.
Bankinter | Enagás has announced the purchase of a 31.5% stake in Teréga for €573 million from GIC. Teréga is one of the two operators of the gas transmission system in France, managing a network of 5,100 km of gas pipelines in the south-west of the country. Teréga operates 16% of the French gas transmission network and 27% of the national storage capacity. Teréga’s network is connected to Enagás’s via…
Renta 4 | The company’s revenues continue to be affected by the recording of the effects of the work carried out to seal the Castor wells (impact of €6 million on EBITDA). Regulated revenues are down due to the regulatory framework, in line with our forecast. EBITDA, reflecting a result from investees of €155 million, slightly higher than our forecast, and recurring operating expenses in line with 2024, slightly improves…
Norbolsa | The company has agreed to acquire the remaining 51% of Axent for €37.5 million, thereby acquiring 100% of the capital. Axent operates in fibre telecommunications infrastructure and the transaction is expected to have a positive impact of €15 million on net profit in 2025. The transaction marks the exit of the Spanish fund Axión Infraestructuras de Telecomunicaciones from this fibre optic and radio link platform,created in partnership with…
Renta 4 | Enagás will present its 2024 results probably on Tuesday 18 February 2025 before the open, conference that same day at 8am. P.O. €19.21, overweight. Slight cut expected in revenues, as a result of lower estimated regulated revenues that will not be offset by the higher contribution from Musel and COPEX. Ebitda in turn will be affected by the lower contribution from investees despite the partial compensation of…
Enagás and its partners are preparing to face the first major test for H2Med, the future hydrogen interconnection that will link Spain and Portugal with France and Germany, explains El Economista. The system operators from the countries involved in this project – Enagás in Spain, REN in Portugal, Teréga and GRTgaz in France, and OGE in Germany – will launch the so-called ‘Call for Interest’ on November 7th, aimed at…
Banco Sabdell : According to press reports, the Council of Ministers will today authorise Enagás to start the Spanish part of the future European hydrogen network, H2Med. Work should start soon to meet the target of being operational by 2030. Assessment: Positive news with limited impact, as it will be a long process until 2030, the date initially planned (ceteris paribus) for the start of operations. H2Med is estimated to…
Santander Corporate & Investment | Enagás (Baa2u e, BBB e, BBB e) has announced the sale of its 30.2% stake in Tallgrass Energy to Blackstone for $1.1 billion (equivalent to €1.018 billion). The company noted that the sale is part of the asset rotation programme announced in the 2022-30 Strategic Plan. Enagás will record an accounting loss of €360 million, but also noted that the divestment will have a very…
Alphavalue/DIVACONS | The laying of the foundation stone for Germany’s first onshore Liquefied Natural Gas (LNG) terminal, which will be operated by Enagás and come on stream in 2027, was held last Friday in Stade. More than 1,100 people will work on the construction of Europe’s two largest LNG tanks, each with a capacity of 240,000 cubic metres, which will also be able to operate with renewable ammonia. The terminal…
Total demand for natural gas fell by -4.0% in 1Q2024 compared to the same period in 2023. But the company’s total revenues as of 31 March 2024 remained the same as in 1Q23: €220.5 million. EBITDA at 31 March 2024 stood at €178.3 million, 2.7% higher than in 1Q2023 and on track to meet ENG’s annual target of €750 – 760 million. EBIT decreased by 3.1% year-on-year in 1Q2024 to…