Gas Natural Fenosa earns €411 million in the first quarter of 2013, 1% more than a year ago
The international business of the Catalan energy company has been the main driving force behind the profit increase in the January-March period, compared to a year ago. Gas Natural Fenosa’s EBITDA which come from its international business increased by 8.1% while that coming from the Spanish market dropped by 2%. International business represented 44.1% of Gas Natural Fenosa’s total consolidated turnover during the first three months of this year. The consolidated EBITDA reached €1.33 billion, 2.2% higher than that reached in the first quarter of 2012. The company’s debt levels reached 50.9%.
Barcelona (ACN).- The Barcelona-based energy company Gas Natural Fenosa posted a profit of \u20AC411 million for the first quarter of the year, representing 1% more than the result obtained in the same period last year, according to data released on Tuesday by the Catalan multinational. The international business of Gas Natural Fenosa has been the main driving force behind the first quarter\u2019s profit increase, compared to a year ago. The Catalan company\u2019s EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) which come from its international business increased by 8.1% and represented 44.1% of Gas Natural Fenosa\u2019s total consolidated turnover during the first three months of the year. At the same time, the EBITDA coming from the Spanish market dropped by 2%. By the end of March, it represented 55.9% of the company\u2019s revenue. Gas Natural Fenosa\u2019s total consolidated EBITDA reached \u20AC1.33 billion, 2.2% higher than that from the first quarter of 2012. The company\u2019s debt levels reached 50.9%.
According to the company\u2019s explanation provided to the Spanish Stock Exchange Regulation Authority, Gas Natural Fenosa\u2019s results have been favoured by the international activity and by \u201Cthe balance of its business profile\u201D, which have enabled the multinational \u201Cto neutralise the stagnation of its Spanish business\u201D (due to the economic crisis) and \u201Cthe impact of Law 15/2012\u201D regarding electricity generation in Spain.
The EBITDA of natural gas supply and commercialisation increased by 31.6% and reached \u20AC250 million, mostly because of the increase in operations undertaken abroad.