Spain · Delayed Price · Currency is EUR Naturgy Energy Group Earnings Call Transcripts
Fiscal Year 2026
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Earnings grew 6% YoY in H1 2026, with EBITDA at €3bn and net income at €1.2bn. Upgraded 2026 guidance projects EBITDA above €5.5bn and net income above €2.1bn, supported by strong regulated and thermal segments, robust cash flow, and disciplined capital allocation.
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Q1 earnings rose >5% YoY, with strong cash generation and broad-based segment growth. Energy-market volatility persists, while 2026 visibility improved and capital deployment remains disciplined.
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2025 delivered the strongest results and metrics in 183 years, with a €1.77-per-share dividend proposed. Priorities for 2026 include network regulation, selective renewables and biomethane growth, while maintaining financial discipline and managing market volatility.
Fiscal Year 2025
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Record 2025 results with EBITDA of €5.3bn and net income of €2bn, driven by efficiency and risk management. 2026 guidance anticipates stable EBITDA, slightly lower net income, and continued investment, with margin pressures offset by new renewables and regulatory impacts.
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Delivered strong results for the first nine months of 2025, with EBITDA of EUR 4.21 billion and net income of nearly EUR 1.7 billion, reaffirming 2025 guidance. Increased free float and liquidity, maintained a solid balance sheet, and advanced regulatory and strategic initiatives.
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Record H1 2025 results with net income near EUR 1.15 billion and strong cash flow, driven by robust performance across segments and disciplined capital allocation. 2025 guidance for EBITDA and net income is set above consensus, with a focus on value, efficiency, and regulatory engagement.
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The AGM confirmed strong 2024 financials despite market volatility, with record profits, stable debt, and increased dividends. A new strategic plan focuses on investment in renewables, ESG progress, and board expansion, with all resolutions—including a voluntary takeover bid—approved by shareholders.
Fiscal Year 2024
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2024 results matched record highs despite energy price declines, with strong cash flow, disciplined CapEx, and robust balance sheet. The 2025-2027 plan targets stable €5.3bn annual EBITDA, increased investment in networks and renewables, and a 6% annual dividend growth, while maintaining a BBB rating.
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Record net income and EBITDA were achieved in H1 2024, with strong operational management and capital discipline despite lower energy prices. Guidance for 2024 is above consensus, with robust investment in renewables and networks, and a new strategic plan focused on growth and decarbonization is underway.