Gas Natural makes 22.2% more in 2010

Barcelona (ACN).- The multinational Catalan company Gas Natural Fenosa saw its net profit increase by 22.2% in September, making 1,117 million euros. The company’s profit before taxes totals at 3,529 million euros, 25.6% more than last year. The distribution of gas and electricity makes up 55.5% of this profit.

Investment in material and immaterial assets accumulated to 914 million euros from January to September, a 25.2% increase from last year. The increase is being attributed to the completion of combined cycle power plants last year. 

The company’s net financial debt as of September 2010 was at 19,834 million euros, or 60.1%. The adjusted net debt is at around 17,838 million euros, lowering their level of indebtedness to 57.6%.