How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Corvera, Castellon & Ciudad Real : THIS is how you run a private airport!
- Daily Brief - Friday 11 July 2014
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Pensioners 'misled' by Co-op Bank
- UK Inflation no problem for Governor Carney
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
Gas Natural sees no Argentina expropriation
Spanish utility Gas Natural Fenosa reiterated its earnings targets for 2012 after a posting a 5.2% rise in Q1 net profit on Tuesday, helped by lower financial costs.
Gas Natural Fenosa, which has faced shrinking demand from businesses and austerity-hit consumers in recessionary Spain, said it is targeting net profit of €1.5 billion in 2012 and underlying profit of more than €5 billion.
Last month the company said it might have to change its goals for 2014 as a result of the deterioration in its Spanish electricity business, which is also facing regulatory uncertainty.
But a strong gas business, particularly in Latin America, helped underpin Q1 results, with net profit of €407 million and earnings before interest, taxes, depreciation and amortisation (EBITDA) of €1.3 billion.
Gas Natural Fenosa has gas business in Argentina, Brazil, Colombia and Mexico. Some of these investments may come under scrutiny after the governments of Argentina and Bolivia recently moved to nationalise energy assets.
The Barcelona-based firm reiterated its target for net debt of between €15 and €16 billion euros in 2012 on Tuesday, with a debt-to-EBITDA ratio of 3 times. Net debt totaled 16.8 billion euros at March 31.
A total of 66.9% of the firm's net debt has to be repaid in 2015 or later.
The company also confirmed how it was not expecting an expropriation of its business in Argentina and had not provisioned for a loss of assets in the country.
Latest News & Stories
- Earthquakes hit Southern Spain
- Gibraltar dismisses Spain’s ‘fanciful’ tax claims
- 1 Year Since Paramount Murcia Promise
- Spain sees EU130 Mln in aid to Canary tomatoes in 5 years
- Number of Foreign Students Studying in Spain Falls
- Spanish cigarette sales plummet 50% in last 5 years
- Euro zone trade surplus rises more than expected in June
- Spain rules Gay man has no right to partner's pension
- Spain's bad loans ratio slips to 13.1% in June
- The Yorkshireman introducing Rugby League to Spain
- Electricity suppliers - and how to change them
- Where to get Legal & Professional Advice in Spain
- Alternative Energy Sources in Spain