REN - Redes Energeticas Nacionais SGPS, SA

RENE

Equity

ISIN PTREL0AM0008 / Valor 3219586

Euronext Lisbon (2024-09-17)

EUR 2.45-0.20%

REN - Redes Energeticas Nacionais SGPS, SA
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About company

REN - Redes Energéticas Nacionais SGPS, SA is a pivotal entity in Portugal's energy sector, primarily engaged in the operation and management of the country's National Gas System. This encompasses a comprehensive network across mainland Portugal, including critical interconnections with the Spanish energy grid, which are essential for cross-border energy exchange and security of supply. Additionally, REN oversees the operations of the LNG (Liquefied Natural Gas) Terminal, a key infrastructure for the importation of natural gas, and the underground storage facilities that ensure the stability and reliability of gas supply throughout the region. Through its stewardship of these assets, REN plays a crucial role in the energy infrastructure of Portugal, facilitating the efficient distribution and storage of natural gas to meet the country's energy demands.

Summarized from source with an LLMView SourceSector: Technology

Net Income Growth

In the first 9 months of 2023, REN - Redes Energeticas Nacionais SGPS, SA reported a net income of 96.2 million Euros, marking an increase of 14.8 million Euros (+18.2%) compared to the same period in the previous year. This growth in net income primarily reflects a significant rise of 34.6 million Euros in the Group's EBITDA, despite a decrease in financial results and an increase in taxes.

EBITDA Increase

For the first 9 months of 2023, REN - Redes Energeticas Nacionais SGPS, SA's EBITDA from its domestic power transmission and distribution business reached 373.6 million Euros, an increase of 8.0% or 27.7 million Euros over the same period last year. This rise was largely due to increased revenues from assets and operational efficiencies.

International Business Performance

The international segment of REN - Redes Energeticas Nacionais SGPS, SA also showed robust performance, with EBITDA for international businesses reaching 21.9 million Euros in the first 9 months of 2023, up by 45.6% or 6.9 million Euros from the previous year. This improvement was notably driven by higher revenues from the transmission of electrical power and recognized income from equity stakes in foreign entities.

Investment and Financial Strategy

During the first 9 months of 2023, REN - Redes Energeticas Nacionais SGPS, SA increased its total capital expenditure to 177.1 million Euros, reflecting a 40.5% year-on-year growth. This strategic investment was aimed at enhancing and expanding the company's infrastructure. Meanwhile, the average cost of debt rose to 2.4%, and net debt escalated by 26.9% to 2,464.0 million Euros, primarily driven by tariff deviations managed by REN Trading.

Outlook and Future Projections

Looking ahead, REN - Redes Energeticas Nacionais SGPS, SA remains focused on maintaining its growth trajectory and financial health. The company continues to adapt to regulatory changes and market dynamics, ensuring sustainable operations and profitability. The ongoing investments in infrastructure and international expansion are expected to further consolidate REN's position as a key player in the energy sector.

Summarized from source with an LLMView Source

Key figures

-2.20%1Y

-2.00%3Y

-3.16%5Y

Performance

14.5%1Y

15.2%3Y

17.0%5Y

Volatility