Naturgy has achieved a net result of 1,580 million euros and has recorded an EBITDA of 4,292 million euros until September. The company, which does not present quarterly results, also advances its year-end forecast. The accounts until September and the current prices of raw materials allow the group to confirm its financial forecasts at the end of the 2024 financial year, with an EBITDA of more than 5.3 billion euros and a profit after taxes of more than 1.8 billion euros.
“These results demonstrate Naturgy’s ability to adapt to the market. The company has continued to make solid and determined progress in its transformation to solve the energy trilemma,” he explains. Francisco Reynés, CEO of Naturgy.
Naturgy allocated 1,444 million euros to investments, which represents 40% of the cash generated before taxes and taxes in the period. These investments have contributed to increasing its installed renewable generation capacity to approximately 7 GW.
In the first nine months of the year, the level of net debt is reduced to below 12,000 million euros and the net debt/EBITDA ratio is close to 2.2x, which reinforces the solidity of the company’s balance sheet. This month, the rating agency Standard & Poor’s confirmed Naturgy’s debt rating at BBB, with a stable outlook.
The company, in fact, managed to issue two bonds last September for an amount of 500 million euros each, with maturities of 6 and 10 years, respectively, and a great excess of demand from the investment community. .
The high interest garnered by the group, with a total of 233 investors participating in the issue, allowed Naturgy to obtain very competitive financing terms and improve its capital structure by lengthening the average life of the debt. The debt target at the end of the year is revised downwards to around €12.8 billion.
Naturgy has disbursed 740 million euros between taxes and taxes. Regarding taxes on profits, the group borne, for all its global activity, an effective rate between 25 and 27% in the last two years, while, with regard to its activity in Spain, the effective rate It ranged between 23% and 26% in the same period.
The Board of Directors of Naturgy approved the payment of a second interim dividend against 2024 results of 0.50 euros/share, payable on November 6. The dividends paid until the end of the third quarter correspond to 23% of the cash generated before taxes and taxes.
New Strategic Plan
The company is currently focused on the development of a new Strategic Plan that will be presented to the market in February 2025 along with the closing results of the 2024 financial year. “The objective of this Strategic Plan is to define a roadmap that is ambitious and attractive for all stakeholders, with a vision that continues the transformation undertaken by the group, and that creates value for all shareholders”, advances Francisco Reynés.
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