The Spanish gas and electricity company naturgy registered a 9.4% drop in profits in the first quarter of 2022 due to the reduction of its commercial margins in a context of pressure on rates.
The old one Gas Natural Fenosarenamed Naturgy in 2018, posted a net profit of 347 million euros ($362 million) between January and March, on sales of 8.1 billion euros.
This figure is slightly lower than the expectations of analysts consulted by the financial information provider fact setwho expected an average benefit of 361 million.
In the first quarter of 2021, naturgy made a profit of €383 million, but this was mainly due to the sale of its stake in an Egyptian factory (Damietta), which involved an initial payment of 65 million euros.