Naturgy foresees another year of record profits after earning 5.9% more until June

BarcelonaAfter obtaining a record profit of 2,023 million euros last year, Naturgy's profits continue to rise. During this first semester, the energy company's earnings have risen by 5.9% compared to the same period in 2025, to 1,215 million, as communicated this Wednesday to the National Securities Market Commission (CNMV).

The company chaired by Francisco Reynés attributes its company's good performance to the "strength" of its integrated business and discipline in operational and financial management, in a context of high oil and gas prices due to the conflict in the Middle East.

Given the good results of the first half of the year, Naturgy has improved its forecasts for this year by 10%. If it initially expected to close 2026 with profits exceeding 1,900 million euros — therefore below the earnings of the previous year — this Wednesday it raised these estimates to "above 2,100 million", therefore above the maximum recorded in 2025.

Investors have reacted positively to the numbers presented by Naturgy and, this morning, its shares are the ones that have grown the most on the Ibex-35, with an increase of close to 3%, placing the value of the shares at around 50 euros. So far this year, the stock has risen by 15.37%.

Preparing for a "new stage" of growth

The energy multinational assures that it is facing a "new stage" of growth" and focuses its investment will on Europe and North America. This Wednesday, it stated that, should an acquisition opportunity arise that suited it, it would have the financial capacity to undertake purchases of up to 12 billion euros.

In parallel, Naturgy makes it clear that in any case it wants to continue maintaining its financial discipline and having a BBB credit rating. In fact, during the first half of the year, it reduced net debt by 4.6% — to 11.745 billion euros — although it expects it to increase to 13 billion by the end of the year.

At the end of April, Naturgy already received the board of directors' approval to actively seek growth opportunities. The intention is to strengthen itself in the electricity business, although the energy company assures that it is open to selective options in the gas sector, and is betting on regulated businesses or those that benefit from vertical integration. In any case, at the end of the first quarter, it made it clear that it was looking for operations with a "clear strategic fit", with "an attractive risk-return profile" and that would create "value for shareholders".

This Wednesday, the energy company boasted about its cash generation, that is, its ability to generate income from its activity: it detailed that as of June 30, 2026, it had a liquidity position, "backed by cash balances, undrawn committed credit lines and access to capital markets, of approximately 10.210 billion euros, of which 4.686 billion in cash and equivalents, and another 5.524 billion euros in undrawn and fully committed credit lines.