The Diplomat
Naturgy maintained its growth in Spain, Australia and the United States, as reported by the company yesterday, when announcing its results in 2023, in which it obtained a net profit of 1,986 million euros.
In Spain, capacity increased by 575 MW, through the commissioning of new capacity and the integration of ASR wind (422 MW).
In Australia, wind capacity increased by 109 MW along with 10 MW of battery storage.
Meanwhile, in the United States, the 7V Solar Ranch plant, located in Texas, began its test operations. With 300 MW, it is the largest solar plant that the firm has built and represents an important milestone for the company.
Naturgy obtained a net profit of 1,986 million euros in 2023, which represents an increase of 20.4% compared to the profits of 1,649 million the previous year, in a year in which it boosted its investments to 2,944 million euros , 53% more.
The gross operating result (Ebitda) of the energy company chaired by Francisco Reynés reached 5,475 million euros in 2023, 10.5% more, maintaining a balanced Ebitda mix between regulated and liberalized activities, which represented approximately 47% and 53% of the consolidated Ebitda respectively, in a year marked by the decline in energy prices and a scenario of great volatility.
Naturgy, the first gas company and the third largest electricity company in the country, highlighted that these solid results and cash generation “supported the significant increase in investments, while the dividend commitment was met and net debt levels remained stable.”
The investment figure of almost 3,000 million euros from last year includes organic ‘capex’ of 2,136 million euros and M&A operations in renewable energies. 90% of the investments were mainly allocated to the development of renewable projects -1,730 million euros- and networks -900 million euros-.
In renewables, the group’s installed capacity increased by 1 gigawatt (GW) during 2023, reaching a total capacity of 6.5 GW.
Naturgy expects its growth in renewable energy to accelerate in the coming years, with up to 1.2 GW and 2.3 GW of additional capacity coming into operation in 2024 and 2025, respectively.
With regard to remuneration to its shareholders, Naturgy has agreed to propose to its next general meeting of shareholders, called for April 2, the payment of a complementary dividend of 0.40 euros per share, in line with the 1, 40 euros per title committed for this year.
