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The Spanish energy group Naturgy, the former Gas Natural Fenosa, announced Monday a loss of 3,000 million euros between January and September, justified by a sharp depreciation of assets in the first half.
The group, which did not provide detailed data for the third quarter, argued that without these exceptional items, net profit for the first nine months of the year would have increased 38.1% to 877 million euros .
"The accounting result, not comparable, is distorted by the deterioration of assets recorded at the end of the first half," said Naturgy in a statement quoted at 4,900 million euros.
This summer, Naturgy has downgraded the value of its Spanish plants as part of a new strategic plan for 2018-2022.
The group also changed its name at that time, from Gas Natural to Naturgy, demonstrating its desire to become a global energy operator beyond the gas sector, also betting on other types of energy. , especially renewable energies.
The Madrid Stock Exchange calmly welcomed these results and Naturgy's share rose 0.23% to 21.89 euros around 14.15 GMT in a rising market (+ 0.63%).
The gross operating surplus (Ebitda), which indicates profitability, fell 0.6% year-on-year relative to published data, although in terms stable bookings, it would have increased by 10.1%.
In September, its net debt amounted to 13,600 million euros, a decrease of 10.4% compared to December 2017.
Naturgy claims to be the third largest gas and electricity distributor in Spain and has a strong presence in Mexico, Brazil, Chile, Argentina and Peru, where exchange rates have hurt earnings.
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