naturalness earned 557 million euros in the first half, 15% more than a year ago, opposite due to the impact of the negative decision on its Chilean subsidiary Metrogras €126 million, as notified by the company to the National Securities Market Commission (CNMV) in a relevant case. The gas company should have submitted its accounts to the auditor last week, but delayed its presentation to this Thursday due to a decision by Metrogaz (which it owns 55% since 2016). conflict from 2009while the gas company has not yet entered the Chilean company.
Ban by the Government of Cristina Fernández de Kirchner to export natural gas Argentina to chile It caused disagreements between the Chilean gas company, the main distributor of natural gas in Argentina, and the Argentine shipping company. Northern Gas Carrier (TGN) –gas carrier– sue filed by the latter breach of contracts, which was decided last week in favor of the Argentine company and $250 million payment to Metrogras (236 million euros). Metrogaz appealed the decision, but Naturgy has set a provision for its accounts in the amount of 55% of this amount. (126 million euros). this normal net profitNot including this provision, 717 million, 28% higher than July 2021.
Ordinary gross operating profit (Ebitda) for the first half of 2022 amounted to €2,184 million, which is 11.5% more than in the same period of the previous year. These first six months of the year marked by intense volatility in energy marketsTogether upward price trend especially in all international markets affecting international liquefied natural gas (LNG) activities Due to high gas prices globally and especially in Europe. Naturgy took advantage of these prices in its LNG business, which has increased the EBITDA of this business by five times, which was 86 million euros in 2021. Gross margin of 101 million in 2021 reached 447 million this year.
Inside Latin Americaresults, as well as updates on rate increases in the countries where the company is located, Positive development of the exchange rate. while in Spain marketing activities continued margin pressure According to the company, it is due to contracts with end customers that still do not reflect the increase in gas and electricity prices at the main international hubs. And grid activity remained stable because “growth of electricity distribution grid activity” offset the decline in gas distribution activity With the decrease in demand for gas and the negative impact of the gradual decrease in natural gas, Gas distribution fee for the 2021-2026 regulatory framework”.
All the same In the presentation of the results of the Gemini Project, which the company announced in February and which is expected to be operational by the end of this year, which proposes the division of the company into two listed companies (free trade on the one hand and regulated on the other), early 2023I eat very late. At the general meeting, the chairman of the board of directors naturalness, Francisco Reynés announced that the project is still ongoing, but the calendar is frozen due to the war in Ukraine and the volatility in the markets. And so it continues, according to the company’s statement, “The Council continues monitoring process of all analyzes of the project that has so far validated strategic fit”.
this net debt Naturgy’s share was reduced by approximately 7% during this period to 11,976 million Euros. cash generation, management of working capital and positive development of the exchange rate. In line with the commitments in the 2021-2025 Strategic Plan, the Board of Directors, first dividend on account 30 cents per share for 2022The same amount as last year and will be paid on August 18.
Source: Informacion
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