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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Naturgy Energy Group, S.A.    NTGY   ES0116870314

NATURGY ENERGY GROUP, S.A.

(NTGY)
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Eni and Naturgy's Damietta gas plant deal with Egypt falls through

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04/23/2020 | 11:23am EDT
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A deal struck between Spanish gas firm Naturgy Energy Group, Italy's Eni and the Egyptian government to resolve a series of disputes over a shuttered gas plant in northern Egypt has fallen through, Naturgy said on Thursday.

The agreement had been due to end Naturgy's business interests in Egypt and dissolve a joint venture between Naturgy and Eni, while Eni and state-owned Egyptian firms would have increased their holdings in the Damietta plant.

Naturgy said in a bourse filing that the agreement was based on a series of conditions which had not been met, but that it was still open to seeking a friendly solution to the dispute.

The first condition of the agreement was that the plant would reopen, but it was impossible to do so because of restrictions on movement and industry worldwide to curb the spread of the novel coronavirus, a person familiar with the matter said.

"Eni is in touch with the counterparties and willing to set the frame of a possible new agreement,? a spokesman for Eni said.

In the meantime, Naturgy said it would go back to pursuing a legal claim to $2 billion in compensation its joint venture with ENI was awarded in the case by the World Bank's International Centre for Settlement of Investment Disputes in 2018.

The facility has a capacity of 7.56 billion cubic metres per year but has been idle since the end of 2012, when a popular uprising hit gas supplies to Egypt.

(Reporting by Isla Binnie; Additional reporting by Stephen Jewkes; Editing by Andrew Cawthorne and Lisa Shumaker)


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Financials
Sales 2020 19 834 M 23 525 M 23 525 M
Net income 2020 944 M 1 119 M 1 119 M
Net Debt 2020 15 711 M 18 635 M 18 635 M
P/E ratio 2020 17,6x
Yield 2020 8,10%
Capitalization 17 066 M 20 202 M 20 242 M
EV / Sales 2020 1,65x
EV / Sales 2021 1,48x
Nbr of Employees 11 117
Free-Float 27,3%
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Technical analysis trends NATURGY ENERGY GROUP, S.A.
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TrendsBullishBullishBearish
Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 21
Average target price 18,50 €
Last Close Price 17,76 €
Spread / Highest target 29,5%
Spread / Average Target 4,15%
Spread / Lowest Target -15,5%
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Managers
NameTitle
Francisco Miguel Reynés Massanet Chairman & Chief Executive Officer
Carlos Javier Álvarez Fernández Chief Financial Officer
Ramón Adell Ramón Independent Director
Francisco Belil Creixell Independent Director
Helena Herrero Starkie Independent Director
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