REN - Redes Energéticas Nacionais, SGPS, S.A. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 21, 2023 at 10:50 am EDT
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REN - Redes Energéticas Nacionais, SGPS, S.A. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was EUR 232.31 million compared to EUR 191.49 million a year ago. Revenue was EUR 243.11 million compared to EUR 200.14 million a year ago. Net income was EUR 50.25 million compared to EUR 39.9 million a year ago. Basic earnings per share from continuing operations was EUR 0.08 compared to EUR 0.06 a year ago.
For the six months, sales was EUR 435.76 million compared to EUR 359.07 million a year ago. Revenue was EUR 459.02 million compared to EUR 378.87 million a year ago. Net income was EUR 63.03 million compared to EUR 45.85 million a year ago. Basic earnings per share from continuing operations was EUR 0.09 compared to EUR 0.07 a year ago.
REN - Redes Energéticas Nacionais, SGPS, S.A. specializes in the operation and concession management of the Portuguese electricity transportation network. Net sales break down by activity sector as follows:
- electricity (63.7%): transportation of electricity from producers to end distributors and consumers, management of the electricity transportation network (connecting user installations to the network, maintenance of the network, etc.). At the end of 2022, the network has a total of 9,424 Km;
- gas (34.8%): transportation of natural gas from producers to end distributors and industrial consumers, underground storage of natural gas, receiving, storage, and regasification of liquid natural gas (LNG), infrastructure construction and maintenance services, etc.;
- telecommunications (1.3%);
- other (0.2%).
REN - REDES ENERGÉTICAS NACIONAIS, SGPS, S.A. 
