By Giulia Petroni
Naturgy Energy Group SA said Wednesday that profit rose in the first quarter but that the coronavirus crisis continues to negatively affect the macro environment despite a recovery in energy demand.
The Spanish energy company said net profit came in at 383 million euros ($462.6 million) from EUR199 million a year earlier, supported by a positive earnings impact from the Union Fenosa Gas agreement.
Earnings before interest, taxes, depreciation and amortization were EUR982 million, up 9.8% on year. Sales increased 4.3% to EUR4.69 billion, the company said.
Despite energy demand that "has shown signs of recovery in the regions where the group operates, the operating situation has remained challenging, with Covid-19 continuing to weigh on the macro situation in general and in the evolution of Latin America foreign-exchange rates," Naturgy said.
Write to Giulia Petroni at email@example.com
(END) Dow Jones Newswires