Enagás net profit climbs 18.4% to 165.1Mn euros

07 July 2010

Conventional demand for natural gas advanced 10.5% year-on-year
The company invested €415.3Mn, in line with its 2010 budget
Average net finance expense fell to 2.67% in the period from 2.96% in the first half of 2009
2010 net profit is expected to be in line with company guidance, with growth of around 10%

Enagás reported net profit for the first six Months of 2010 of €165.1Mn, an 18.4% increase on the figure of €139.5Mn to 30 June 2009.

EBIT for the first half totalled €265.3Mn, 16.4% higher than the year-earlier figure of €227.8Mn.

EBITDA totalled €385.1Mn, 16.5% higher than the previous year’s figure of €330.5Mn.

This increase is largely due to the company’s cost cutting efforts and strict application of its Efficiency and Cost Control Containment Plan during the first half.

These earnings were also shaped by the 15.5% increase in regulated revenue in the first six months.

This growth should ease over the course of the year towards the announced 10% increase in net profit for 2010.


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