Spain's Naturgy sees higher core profit this year after resilient H1

Naturgy Energy

22/07/2026 08:12

MADRID, July 22 (Reuters) - Spanish gas and power utility Naturgy NTGY.MC said on Wednesday it expected full-year core profit to exceed €5.5 billion ($6.27 billion), after growth in regulated distribution networks helped offset pressure in parts of its energy markets business.
The company, which last year reported a core profit of €5.33 billion, said it also expected this year's net income to be above €2.1 billion and year-end net debt of around €13 billion.
Naturgy reported first-half net income of €1.22 billion - up 5.9% from a year earlier - while earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 4.5% to €2.98 billion.
A 13.2% rise in distribution networks EBITDA was helped by higher regulated remuneration in Spanish electricity distribution and tariff updates in Latin America, Naturgy said.
However, core profit in the energy markets business fell 2.4% to €1.49 billion, as weaker Spanish supply margins and negative mark-to-market effects on Australian power purchase agreements offset stronger thermal generation in Spain.
Naturgy said it would pay a first 2026 interim dividend of €0.6 per share in cash on July 29.

($1 = 0.8765 euros)

 (Reporting by David Latona; Editing by Thomas Derpinghaus)
 ((david.latona@thomsonreuters.com; +34 918 35 68 13;))