Naturgy Says 1st Half Profit Rose; Gemini Project Schedule Likely to Be Adjusted
By Giulia Petroni
Naturgy Energy Group SA said Thursday that net profit rose in
the first half of the year and the execution schedule of its Gemini
project is likely to be adjusted due to market volatility.
The Spanish utility reported a net profit of 557 million euros
($571.7 million) in the period, up from EUR484 million a year
The result included EUR126 million in provisions related to the
first-instance conviction sentence against Chilean subsidiary
Metrogas SA for a series of lawsuits filed by Transportadora De Gas
Del Norte SA, Naturgy said.
Earnings before interest, taxes, depreciation and amortization
came in at EUR2.05 billion from EUR1.68 billion the previous
Sales increased to EUR16.74 billion from EUR9.13 billion, mainly
as a result of higher energy prices.
Naturgy said the board has approved a first interim dividend of
EUR0.3 a share for 2022.
In regards to project Gemini, a plan to reorganize the company's
businesses into two large listed groups, Naturgy said the
scheduling will likely be adjusted due to market volatility, the
evolution of the European energy context and numerous regulatory
uncertainties. It previously said it aimed to execute the project
during the current year.
Write to Giulia Petroni at firstname.lastname@example.org
(END) Dow Jones Newswires
August 11, 2022 09:15 ET (13:15 GMT)
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