Gas Natural 3Q Net Profit Falls Despite Higher Gas Prices

By Marc Bisbal Arias Features Dow Jones Newswires

Gas Natural SDG SA (GAS.MC) said Tuesday that its third-quarter net profit fell year-on-year, despite net sales increasing, driven by higher volumes and sale prices in gas.

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Net profit was 243 million euros ($282 million) compared with EUR285 million the year-earlier period, and below expectations of EUR253 million from a survey by FactSet. Net sales rose 9.3% to EUR5.79 billion from EUR5.29 billion in the same period last year. Earnings before interest, taxes, depreciation and amortization came in at EUR1.00 billion, down 13.6%.

Gas Natural, who trades as Gas Natural Fenosa, said that the decline in Ebitda was concentrated in the electricity business in Spain, where weather affected performance.

Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com

(END) Dow Jones Newswires

November 07, 2017 03:30 ET (08:30 GMT)