By Giulia Petroni

Naturgy Energy Group raised its core earnings targets for the full year after reporting a stronger performance on year for the first nine months.

The Spanish energy company said Tuesday that it expects earnings before interest, taxes, depreciation and amortization of more than 5.4 billion euros ($5.76 billion) for the full year, from previous expectations of EUR5 billion. Net debt is expected at around EUR12.5 billion.

In the period ended Sept. 30, Ebitda was EUR4.31 billion, up from EUR3.50 billion in the year earlier. Investments amounted to EUR1.9 billion--62% of which was allocated toward renewables and 29% toward networks--while net debt stood at EUR11.2 billion.

Naturgy approved a second interim dividend for the year of 5 European cents a share. Total dividend distribution for 2023 will amount to EUR1.4 a share.

Write to Giulia Petroni at

(END) Dow Jones Newswires

10-24-23 0337ET