BAKU, Azerbaijan, February 23. Spanish energy company Enagas has announced a net profit of 342.5 million euros for the fiscal year 2023, surpassing its anticipated target range of 310-320 million euros, Trend reports via the company.
This outstanding performance was bolstered by a net capital gain of 42.2 million euros from the successful closure of the sale of Gasoducto de Morelos.
The company also reported an impressive EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of 780.3 million euros, surpassing the annual target of 770 million euros. This robust financial outcome can be attributed to the effective implementation of Enagas' Efficiency Plan, which enabled the company to maintain recurring operating expenses at 2022 levels, aligning with the objectives outlined in its 2022-2030 Strategic Plan.
Moreover, Enagas benefited significantly from the stellar performance of its affiliates, with contributions amounting to 199.5 million euros. Notably, GNLQ, a key affiliate, contributed 11.9 million euros in 2022 before being divested at the end of the fiscal year.
Renowned internationally as a leader in energy infrastructure development, operation, and maintenance, Enagas holds certification as an independent Transmission System Operator (TSO) from the European Union. Furthermore, the company serves as the Technical Manager of the System in Spain. In accordance with Royal Decree-Law 8/2023, issued on 27 December, Enagas has been authorized to operate as a provisional Hydrogen Transmission Network Operator (HTNO), further solidifying its position as an innovative force in the energy sector.
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