BAKU, Azerbaijan, July 27. As of June 30, 2023, the net profit of Spanish Enagas reached 176.8 million euros, showing a significant increase of 146.6 million euros compared to 2022, Trend reports.
The company is progressing well towards achieving its annual target of 310/320 million euros.
The net profit for the first half of 2023 includes a net capital gain of 42.2 million euros, which resulted from the sale of the stake in Gasoducto de Morelos on April 24. However, it's essential to note that this figure does not take into account certain accounting adjustments from the first half of 2022, specifically the -133.8 million euros recorded under TGE's financial result. Additionally, the capital gain generated from the sale of Gasoducto de Morelos in 2023 is also reflected under the same heading.
Considering the above adjustments and accounting for the variations, the net profit as of June 2023, when compared to the same period in 2022, reflects a decrease of -17.9%.
On June 30, 2023, the company achieved a positive financial result of +1 million euros, which includes a gross capital gain of 46.7 million euros resulting from the successful sale of Gasoducto de Morelos.
It's important to mention that during the first half of 2022, the financial result included an adjustment in the book value of our stake in Tallgrass, amounting to -133.8 million euros.
As of June 30, 2023, the financial cost of gross debt stood at 2.6%, slightly lower than the first quarter of 2023 (2.7%), but higher than the 1.6% recorded in the first half of 2022.
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