The company invested €796.3Mn and brought €644.put worth of assets into operation in 2010, in line with the targets of the 2010-2014 Strategic Plan
Average net finance expense fell to 2.7% from 3.31% in 2009
The earnings growth was driven mainly by the Company’s ongoing hard efforts to bring down operating and finance costs
Conventional demand for natural gas rose 10% and returned to pre-crisis levels
The Company surpassed all its guidance for the fourth year in a row
Enagás reported net profit in 2010 of €333.5Mn, an 11.9% increase on the €298Mn of 2009 and in line with the Company’s target of achieving double-digit growth.
EBIT rose 9.5% to €530.9Mn from €484.7Mn.
EBITDA totalled €780.8Mn, 11.3% higher than the year-earlier figure of €701.3Mn.
Regulated revenue climbed 11.4% on the back of record assets put into operation in both 2009 and 2010 and thanks to the acquisition of 40% of the Bilbao regasification plant. Like-for-like operating expenses rose just 4%, demonstrating Enagas’ tight grip over costs.
