MADRID (Reuters) – Spain’s Naturgy confirmed on Wednesday its profit targets for the year as it prepares an “ambitious” new strategy that will be presented in February.
The company said it is on track to achieve its target of a net profit of more than 1.8 billion euros ($1.95 billion) this year, after posting profit of 1.58 billion euros in the first nine months.
Naturgy, however, revised down the outlook for investments and net debt. It now expects investments of 2.4 billion euros this year, down from 2.6 billion euros. Net debt is seen at 12.8 billion euros, from a previous guidance of around 13 billion euros.
The company will present its new plan in February, along with its 2024 results.
“The objective of this strategic plan is to define a roadmap that is ambitious and attractive to all stakeholders, with a vision that continues the transformation undertaken by the group, and that creates value for all shareholders,” Executive Chairman Francisco Reynes said in a statement.
($1 = 0.9238 euros)
(Reporting by Pietro Lombardi, editing by Inti Landauro)
