BAKU, Azerbaijan, April 22
By Leman Zeynalova – Trend:
Net profit of Spanish Enagas at 31 March 2020 stood at 119.1 million euros, which is 14.7 percent higher than in the same period of the previous year, Trend reports citing the company.
The company’s earnings before interest, taxes, depreciation, and amortization (EBITDA) increased by 2.5 percent due to higher operating revenues and results from affiliates.
“A better financial result as a consequence of a non-recurring effect of 18.4 million euros caused by the positive exchange differences generated by the purchase of dollars made for investment in phase II of Tallgrass Energy LP (closed on April 17). Funds from operations (FFO) as at 31 March 2020 amounted to 177.1 million euros, 10.3 percent lower than in 2019, due to a scheduling effect on the collection of dividends from affiliates. The annual dividend from affiliates’ target in 2020 is €235 million,” Enagas said in its report.
Total revenues at 31 March 2020 stood at 283.3 million euros, similar to the amount achieved in 2019.
Operating expenses at the end of the first quarter of the year 2020 were -82.3 million euros, in line with the previous year amount.
At 31 March 2020, results from affiliates stood at 34.6 million euros. This amount includes the stake in GNL Quintero reported under the equity method.
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