Naturgy recorded a net profit of nearly €2bn in 2023, a 20% increase on 2022.
Energy transition projects represented 90% of the total investment for the year, with €1.73bn going to renewable energy generation and more than €900m to distribution networks.
Naturgy has 6.5GW of installed renewable capacity in operation and expects to end 2024 with around 8GW, to which a pipeline of projects under development of almost 20GW should be added, mainly in Spain, Australia and the US.
Since the beginning of the company’s 21-25 Plan, and until the end of 2023, Naturgy generated a total aggregate EBITDA of €14bn and invested €6.4bn.
In parallel, the company’s indebtedness has been reduced from a net debt to EBITDA ratio of 3.9x at the beginning of 2021 to 2.2x at the end of 2023.
“The good results for 2023 reflect, once again, the commitment, professional quality and good performance of the entire Naturgy team, as well as the soundness of our industrial growth plans and prudent financial management.
“We work every day to adapt this company, which is 180 years old, to a new environment: transforming our business mix and making a positive contribution to the challenges of the energy transition in the countries in which we operate, especially in Spain”, said Naturgy’s executive chairman, Francisco Reynes (pictured).