Report
Louis Boujard, CFA ...
  • Philippe Ourpatian

Naturgy : Un T1 au-dessus des attentes, mais un optimisme relatif sur 2021

>Opinion Neutre maintenue, mais on OC ajusté à 23.0 € (vs 21.0 €) - Retraité de la déconsolidation rétroactive des activités de transmission et distribution d’électricité au Chili en cours de cession au groupe chinois China State Grid, les résultats du T1 2021 sont ressortis au-dessus de nos attentes et de celles du consensus. Le retour à une situation plus normale des marchés de l’énergie et l’évolution haussière des prix du gaz et de l’électricité n’ont pu toutefois...
Underlying
Naturgy Energy Group S.A.

Gas Natural SDG is a gas company based in Spain. Co. and its subsidiaries are primarily engaged in the supply, transportation, distribution and commercialization of piped natural gas, as well as the activities involving exploration and developing, supply, regasification, liquefaction and storage of natural gas, and the generation and commercialization of electricity. Co. operates mainly in Spain and also outside of Spain, especially in Latin America, Puerto Rico, Italy, France and Africa (through Maghreb-Europe gas pipeline and integrated LNG projects in Algeria).

Provider
Oddo BHF
Oddo BHF

​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.

Analysts
Louis Boujard, CFA

Philippe Ourpatian

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