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Enagás Returns to Profit in 2025 on Asset Sales, Arbitration Uplift and Cost Cuts

Management cites portfolio actions, a revised Peru award plus leaner operations as the catalyst for the rebound.

Overview

  • Media reports cite differing profit figures for 2025—€399 million or €339 million—reflecting alternative treatments of extraordinary items in the published results.
  • A rectification of the Gasoducto Sur Peruano arbitration added €41.2 million to 2025 income after the award was revised upward in May.
  • Disposals and revaluations supported results, including gains from Soto la Marina (€5.1 million) and Sercomgas (€9.6 million), the Axent revaluation (€16.9 million) and a fair‑value update for GSP.
  • Operationally, transported gas rose 7.4% to 372 TWh, helped by stronger system operations to secure electricity supply during stress events.
  • Revenue reached €976.8 million (+7%) and EBITDA was €675.7 million, topping guidance, while net debt increased to €2.475 billion with a lower average financing cost of 2.1%.