This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Gas Natural incrementa su beneficio un 7,1 por ciento en el primer semestre
Natural gas increases its profit by 7.1 per cent in the first half
01/09/2004
on September 1, 2004
Natural gas recorded a net profit 327,5 million euros during the first half of this year, an increase of 7.1 percent over the same period of last year.
The Chief Executive Officer of the company, Henry Locutura, attributed the improved results to the positive evolution of the distribution of gas in Spain activity, as well as the growing development of business in America and the incorporation in their accounts of the acquisitions in Puerto Rico and Italy.
The net amount of the turnover amounted to 2.936,5 million euros, a 4.6 per cent more, while the result before taxes, interest, amortisation and depreciation (Ebitda) stood at 664,7 million euros, a 10.7 per cent more.
The Group's total sales exceeded the 192,000 gigawatts hour (GWh), 13 per cent more in relation to the previous year. A total of 126.796 GWh were gas in Spain sales, which rose 15 percent, with what the market share to end customers stood at 63 per cent.
Also, the customer base grew by 8 per cent and exceeded 9 million worldwide (4.6 million in Spain, 4.4 million in America and almost 100,000 customers in Italy), a figure that is in line with the objective of the Strategic Plan of the Groupthat it expected to reach 13 million customers in 2008.
More information: www.gasnatural.com
