By Giulia Petroni
Naturgy Energy Group SA on Wednesday unveiled its strategic plan for 2021-25, largely focusing on its renewables and network businesses.
The Spanish energy company said it targets total capital expenditure of 14 billion euros ($16.5 billion) over the period. This includes EUR8.7 billion for renewables and EUR4.1 billion for networks.
Ordinary earnings before interest, taxes, depreciation and amortization are expected to amount to EUR4.8 billion in 2025 from EUR3.7 billion in 2020, with a compound annual growth rate of 5.1%.
Ordinary net income is targeted at EUR1.5 billion in 2025 from EUR900 million in 2020, according to the company.
Naturgy added it targets a dividend of EUR1.20 a share per year, with a capital allocation of around EUR20 billion over 2021-25. The dividend policy will be reassessed in 2023.
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(END) Dow Jones Newswires