The growth of the net profit continues in double digits despite the lower results arising from the sale of assets (E78.9 million in 2007, as against E223.8 million in the same period of 2006).
The earnings before interest, taxes, depreciation and amortization for the first nine months of 2007 totaled E1.7 billion, up 20.2% over the same period in 2006, driven mainly by the wholesale and retail gas commercialization business that accounts for 18.5% of the total consolidated EBITDA.
The regulated gas distribution business in Spain made the largest contribution to the group’s EBITDA, with 38.4% of the total, while the regulated distribution contribution in all markets (Spain, Latin America and Italy) stood at 58.8% of the total. The electricity business as a whole (Spain and Puerto Rico) accounted for 14.9% of the total EBITDA.
Net borrowing saw a drop of E422.8 million between January and September. The net debt at September 30, 2007, stood at E2.7 billion with a debt ratio of 29.3%.
Gas Natural investments during the first nine months of the year grew by 4% compared to the same period of 2006 totaling E798.2 million, of which E714.1 million were in tangible investments allocated chiefly to an increase in the gas distribution network and the company’s electricity production projects.
