By Giulia Petroni
Naturgy Energy Group SA said Wednesday that earnings fell in the first half as results were hurt by the effects of the coronavirus on prices and demand.
The Spanish utility reported a net profit of 334 million euros ($383.3 million) for the period compared with EUR592 million a year earlier.
The company said Covid-19 has had a significant impact on electricity and gas demand in the regions where it operates, particularly in Spain and Latin America.
Net sales fell 24.2% on year to EUR8.78 billion, it said.
Earnings before interest, taxes, depreciation and amortization decreased to EUR1.87 billion from EUR2.18 billion the previous year.
The company said results were also affected by the new regulatory framework and lower remuneration in electricity distribution in Spain.
Write to Giulia Petroni at firstname.lastname@example.org