Gas Natural 3Q Net Profit Falls Despite Higher Gas Prices
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.
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.
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(END) Dow Jones Newswires
November 07, 2017 03:30 ET (08:30 GMT)