The contribution of Enagás’ investees compensates for the regulatory cut


Madrid

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Enagás obtained a net profit of 213.1 million euros in the first half of the year, 9.8% less compared to the same period of the previous year, weighed down by the lower remuneration on the gas transmission network in Spain due to the entry into force of the new regulatory period (2021-26) of the CNMC.

On the contrary, the result has been favored by the greater contribution of the investees and the company’s efficiency plan. During the first semester, the contribution of the American Tallgrass Energy and Trans Adriatic Pipeline (TAP) represented 40.4% of the company’s BDI. The contribution of the subsidiaries has increased in the first six months of the year by 48.1% compared to the same period in 2020.

The company chaired by Antonio Llardén underlines that it has a solid financial structure, with more than 80% of the debt at a fixed rate.

Enagás has reduced the cost of debt to 1.8%. In addition, it has a liquidity situation of 3,024 million euros as of June 30, 2021.

The cash flows generated make it possible to ensure the Enagás shareholder remuneration policy for 2021, 1% more than in 2020. The company also maintains its commitment to the dividend for the 2021-2026 period.

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