Enagas Reports Net Profit of EUR 303.3 Mln, Spain

Enagás posted a net profit of €303.6Mn in the first nine months of 2013. Unlike in 2012, in 2013 the company consolidated all its investments in the TLA Altamira plant in Mexico and the Quintero LNG plant in Chile, as well as the Yela underground storage facility, which began operations around the middle of 2012. Furthermore, it completed the acquisition of Naturgas Transporte in 2013.

These factors had a positive impact on the results obtained and mean that the first nine months of 2013 are not fully comparable with the same period last year.

At the end of 2013, the consolidation scope will show a more homogeneous performance, attaining net profit growth of about 5.5%, in line with the established target.

The company invested €450Mn in the first nine months of 2013 and put assets amounting to €321Mn into operation. Both figures include the acquisition of 90% of Naturgas for €245Mn. These figures are in line with the plans for the year.

LNG World News Staff, October 22, 2013; Image: Enagás

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