By Giulia PetroniNaturgy Energy Group said Monday that net profit jumped in the first half of the year as results were supported by a positive operating performance despite a decrease in energy prices and persistent volatility. The Spanish utility company said net profit came in at 1.04 billion euros ($1.16 billion) in the period from EUR557 million a year earlier, supported by a strong performance of liberalized activities as well as a strong deleverage. Earnings before interest, taxes, depreciation and amortization increased to EUR2.85 billion from EUR2.05 billion in the previous year. In terms of mid-term targets, Naturgy added that it expects net profit at EUR1.8 billion in 2025, from previous expectations of EUR1.6 billion. Earlier this month, the company revised its Ebitda, capex, net debt and dividend targets for 2025 as part of a strategic review.

Source: Wall Street Journal July 24, 2023 10:19 UTC