Enagás earned 342.5 million euros in 2023, 8.8% below what it earned the previous year. Despite this, the drop in profit is lower than the annual objective that it had foreseen in its strategic plan, which placed profit between 310 and 320 million euros.
The gross operating result before taxes (ebitda) amounted to 780.3 million, 2.2% below the previous year, while the company's total turnover closed 2023 at 970.2 million, 5.2% lower.
For its part, net debt has fallen to 3,347 million euros, after being reduced by 122 million, although its average cost has increased to 2.6% from 1.8% the previous year, although 80% of the debt is at fixed cost.
This decrease in income and billing is in line with the business evolution foreseen by the company's strategic plan, it is even lower than expected.
In the information provided to the market this Tuesday, Enagás claims to have met all the objectives of the strategic plan set for 2023, “thanks to its efficiency plan in expenses, financial and operational, the good performance of the investee companies and the high degree of execution of the 2022–2030 Strategic Plan, higher than initially planned.”
The contribution of the investee companies amounted to 199.5 million euros, as a result of the good performance of all the subsidiaries. It should be noted that the previous year, among these investees, there was still GNLQ, which contributed 11.9 million euros in 2022 and which was sold at the end of that year.
During 2023, Enagás has continued to advance its commitment to the development of a hydrogen network with the H2Med project as strategic to connect Spain and France through the first marine hydrogen pipeline. Along these lines, Enagás was authorized last December as the provisional manager of the hydrogen backbone network.
Already in 2024, the company has presented the results of the Call For Interest during the second Enagás Hydrogen Day, on January 31, which has supported the hydrogen transport infrastructure presented to PCI and the objectives of the Integrated National Plan of Energy and Climate (PNIEC).
These infrastructures will represent a total estimated gross investment in Spain - including the corresponding part of H2Med - of around 5.9 billion euros. Considering public aid of around 40%, a net investment for Enagás of approximately 3.2 billion euros is estimated in the period 2026-2030.
The dividend corresponding to fiscal year 2023 remains as planned, at 1.74 euros per share, which will be paid as usual in the month of July, after the payment of the interim dividend made in December.
