Enagás earns 13.3% less until September, burdened by the GNL Quintero effect

Enagás earns 13.3% less until September, burdened by the GNL Quintero effect

The company Enagás earned between January and September 325.7 million euros, 13.3% less than in the first nine months of 2017, when its results were positively impacted by the incorporation of the Chilean regasification plant GNL Quintero.

Once said non-recurring capital gain was discounted, the net profit increased by 1%, in line with the targets set for the year, the gas system operator reported today, underscoring that the contribution of the investees rose by 12.9% and it stood at 20% of the total result.

Enagás' total revenues fell 0.9% to 1,012.5 million euros.

Revenues from regulated activities totaled 818.7 million, 3.1% less, while other operating income increased 10.3% to 193.8 million.

The gross operating profit (EBITDA) increased 1.3% to 804.4 million euros, thanks to the contribution of the investee companies (70.5 million, 24.7% more) and better operating performance, according to the same source.

Between January and September, Enagás invested 153.6 million euros, compared to 252.8 million a year earlier.

In Spain, it allocated 34.3 million, compared to 47.7 million invested in the first nine months of 2017, while in international business it invested 121.1 million, compared to 135.4 a year earlier.

According to the same source, the demand for natural gas in the domestic market reached 251.6 terawatt hours (TWh), 1.7% more.

The company ended the period with a financial debt of 4,659 million euros, which represents a reduction of 349 million at the end of 2017.

The current debt includes 655 million associated with the net debt accounted for in GNL Quintero as of June 30.


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