Enagas : FY 2023 results in line at the operating level, better working capital and lower financing costs drive net profit beat
>Slight beat in EBITDA (+1.3%), stronger one in net profit (+6.6%) - Good results, slightly above our estimates at the EBITDA level (+1.3%) and company guidance with EBITDA at € 780.3m (-2.2% y-o-y) affected by the regulatory framework 2021-26 (€ 48.1m impact in revenues: continuity of supply) partially offset by the increase in other regulated revenues. Operating costs continued to decline as expected (-9.4% vs 2022) with recurring costs remaining stable when compar...Enagas is a gas transportation company based in Spain. Co. is engaged in the technical distribution and storage of gas through pipelines as well as the provision of regasification services. Co. and subsidiaries are engaged in the ownership, administration, storage, pipeline transportation, distribution flow, and sale of natural gas. As a transport company, Co. also provides gas and manages the gas infrastructures.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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