Application of the 2008-2010 Efficiency and Cost Containment Plan enabled the Company to drive a 10.7% year-on-year reduction in operating expenses
Average net finance expense fell to 3.31% from 4.70% in 2008
In 2009 Enagás invested a record €901.6Mn, putting €965Mn worth of assets into operation, another milestone
16 December 2009 marked a new Spanish gas system demand record, at 1,885 GWh
Enagás’ net profit for the year ended 31 December 2009 climbed 15.1% on 2008 to €298Mn. EBIT rose 11.9% year-on-year to €484.7Mn, up from €433.1Mn in 2008. Operating cash flow or EBITDA totalled €701.3Mn, 10.2% higher than the year-earlier figure of €636.2Mn.
The healthy 2009 results were underpinned by the correct execution of the following management initiatives: application of the Efficiency and Cost Containment Plan, reduction in unit financing costs and timely completion of infrastructure works.