Naturgy Energy Group S A (GASNF) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone. This is Abel Arbat speaking from the Capital Markets Team at Naturgy. Thank you for joining our results call for the first half of 2024. Next to me sits our Executive Chairman, Mr. Francisco Reynes, the General Counsel of the Board, Manuel García Cobaleda, the Head of Financial Markets, Mr. Steven Fernández, and the Head of Control, Ms. Rita Ruiz de Alda. We're going to cover the presentation first, And at the end, we will be addressing questions from analysts and investors. Please remember to submit your questions through the webcast platform in written form. So, without further ado, I'll hand it over to Steven to pass the presentation. Thank you, Abel. Good morning, everyone. Today, we're going to be explaining our results for the first half of 2024. but also providing us some guidance for the remainder of the year and introducing some relevant considerations for what we think is going to be an exciting future for the company. I can take you quickly to slide four. What we're going to see first, we'd like to underscore the strong results in this area, reaching an income of 2.8 of 1 billion euros respectively. which is in line with the first half of 2023 historical record highs for the company, despite the more competitive scenario. Investment in the period remaining in line with that of last year reached almost 1 billion euros, with capital discipline as a cornerstone for the company's strategy and CapEx deployment. In this sense, CapEx was employed mainly in renewable growth and networks businesses, as you will see throughout the presentation. Net debt declined to 11.8 billion versus 12.1 billion at the end of 2024. It should also be noted that in the period, the company redeemed 500 million euros of hybrids, further reinforcing our balance ...