Banc Sabadell : The National Securities Market Commission (CNMV) has authorised the auto-IPO of Naturgy (NTGY) to acquire up to 9.08% of its share capital (with the aim of improving its free float) at €26.50/share. The acceptance period will be 15 days from the day after details of the offer are published in the press. On the other hand, the company has confirmed that it will not go ahead with…
Link Securities | Naturgy (NTGY) agreed on Monday to issue two series of senior unsecured fixed-rate bonds maturing in 6 and 10 years, respectively, under its €12 billion Euro Medium Term Note Programme. The 6-year bond, maturing on 21 May 2031, has a fixed annual coupon of 3.375% and a principal amount of €500 million. The 10-year bond, maturing on 21 May 2035, has a fixed annual coupon of 3.875%…
Link Securities | UFD, the energy group’s electricity distributor, will invest €1.33 billion until 2028 to reinforce and digitise its electricity grid in Spain, according to Bolsamania.com. The objective of these investments is to improve the service offered to its customers and to promote the development of the energy transition, as established in the new Strategic Plan. The investments made by UFD also aim to incorporate and provide a quality…
Link Securities | Naturgy (NTGY), through its international electricity generation subsidiary Global Power Generation (GPG), has launched its first major hybrid project worldwide involving photovoltaic generation and battery storage, according to Bolsamanía. This is a pioneering project in many senses, as it is also the first large-scale hybrid photovoltaic and battery storage project in Western Australia. Cunderdin, named after its location, has started operating after more than three months of…
Link Securities | The National Securities Market Commission (CNMV) agreed on 1 April 2025 to admit for processing, in accordance with the provisions of the Law, the authorisation request submitted by Naturgy (NTGY) on 26 March 2025 for the formulation of a voluntary takeover bid (OPA) for its own shares, on the understanding that the prospectus and the other documents submitted comply with the provisions of said article. The admission…
Bankinter | The energy giant Taqa, controlled by the Emirate of Abu Dhabi, is studying the possibility of acquiring a stake in Naturgy. According to articles that have appeared in the press, Taqa would enter with a non-majority shareholding, hand in hand with CriteriaCaixa and with the approval of the Government, which has the right of veto over this type of strategic operation. At the moment, Naturgy has a self-tender…
Banc Sabadell | From the conference call results 2024 and update of the Strategic Plan 25-27 of Naturgy (NTGY) we highlight: Given that market conditions are now more complex for investing, they prefer to be more cautious, so if they do not find investments they will distribute the accumulation of cash to shareholders; all this would be conditional on a floor in the BBB rating (S&P). They are committed to…
Naturgy earned €1.901 billion in 2024, down from the €1.986 billion obtained in 2023. The company’s EBITDA was €5.365 billion, compared to €5.475 billion a year earlier, while investments for the year amounted to €2.280 billion (€2.747 billion in 2023) and net debt rose to €12.201 billion from €12.090 billion, with a debt/EBITDA ratio of 2.3 times. Naturgy has emphasized that these figures illustrate “the group’s ability to continue creating…
Alphavalue/ Divacons | Nedgia, Naturgy’s gas distributor, has increased the green gas injection capacity in its network by more than 30% over the last year. Currently, eight biomethane plants are connected and in operation, with a combined capacity of 226 GWh of green gas, which contributes to avoiding the emission of 40,500 tonnes of CO2 into the atmosphere, as reported yesterday by Naturgy in a press release. In the short…
Banc Sabadell | Nest (National Employment Savings Trust), the UK’s largest pension fund, has become a 10% shareholder in Industry Super Holdings, the holding company of Australian fund IFM (16.7% NTGY) with which it expects to invest close to £5bn (>€6bn) by 2030, according to press reports. Both expect to capitalise on significant investments in the UK private market and unlock new investments around the world. Assessment: Positive news with…