Enagás, S.A. (EG4.F) on Tuesday reported recurrent profit after tax for the first nine months of fiscal 2025 of 206.9 million euros compared with loss of 130.2 million euros a year ago.
Including the impact of capital gains from the sale of Soto la Marina and Sercomgas and the fair value adjustment of GSP, recurrent profit after tax reached 262.8 million euros. The previous-year period number included the accounting loss on the closure of the sale of Tallgrass amounting to 363.7 million euros.
Earnings before interest and tax or EBIT declined 15% to 275.2 million euros from 323.8 million euros for the comparable period last year, primarily impacted by higher operating expenses.
Operating expenses increased 65.8% to 219 million euros from 132.1 million euros, mainly due to work related to the decommissioning of Castor, as well as higher electricity and CO2 costs indexed to demand.
EBITDA or earnings before interest, taxes, depreciation, and amortization declined 11.7% to 505.9 million euros from 572.8 million euros a year ago.
Funds from operations (FFO) stood at 463 million euros, down from 508.3 million euros in the same period of 2024.
The company recorded a financial result of loss of -34.4 million euros, narrower than 48.9 million euros loss last year, primarily helped by lower financial expenses associated with debt, mainly due to the sale of Tallgrass Energy.
Revenue for the period grew 6.9% to 711.2 million euros from 665.2 million euros for the previous year.
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