Naturgy Energy Group reports 30% rise in renewables EBITDA, driven by growth in Spain and Latin America.

Spanish power and gas utility Naturgy Energy Group SA (BME:NTGY) reported a 30% increase in its renewables EBITDA for the first half of 2024, with a 29.8% year-on-year increase. The increase was largely driven by increased installed capacity and production in Spain, higher overall production in Latin America, and a positive evolution of the mark-to-market valuation of existing power purchase agreements (PPAs) in Australia. The only market where the renewables EBTDA ended in the red was the United States, where it recorded a negative EUR 3 million at end-June 2024 compared to a negative € 6 million in the year-ago period. The Natury group reported an EBITD of EUR 2.85 billion and a net profit of EUR 1.04 billion, matching the previous year’s figures.