The energy company’s business grew 73.7% from January to March, guided by Francisco Raines

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Naturgy reported a net profit of 347 million euros in the first quarter of the year, a . represents 9.4% less Compared to earnings in the same period last year, the company reported.

The Group’s gross operating profit at the end of March stood at €1,074 million, an increase of 9.4% from a year ago.

Energy sector business headed by Francis Reyno It rose 73.7% to 8,141 million euros in the January-March period.

Naturgy’s ordinary net profit at the end of March was €354 million, an increase of 9%, while ordinary EBITDA of 1072 million was up 4%.

The energy company highlighted that this first quarter of 2022 showed “unequal behavior” in the countries in which it operates and a variable growth of demand, reflecting the macroeconomic landscape, energy trends and diverse climates. .

period was marked by recovery of international activitiesWhile operations in Spain continued to experience pressure on sales margins, partly impacted by contracts that do not reflect global increases in gas and electricity prices.

Naturgy highlighted that it has sold off all of its basic power generation capacity to end customers in the long term, below the government-set price of 67 euros per megawatt hour (MWh) and will convert it to ‘pooled’ electricity. Had to go to buy. Due to low hydraulics.

With regard to its investments, they increased 32% to 259 million euros, after they started building 582 megawatts (MW) of renewable generation in the quarter.

Energy Group’s net debt stood at EUR 13,062 million at the end of the first quarter, corresponding to the end of the year 2021.