Gas Natural Fenosa's 2015 results outperformed 2013-2015 plan (Spain)

Spanish energy group Gas Natural Fenosa has announced a consolidated EBITDA of €5,376m in 2015, above the €5bn target set out in its 2013-2015 strategic plan. The growth recorded in 2015 can be attributed to the solidity of regulated businesses and the expansion of operations in Latin America, in particular Chile (acquisition of CGE in late 2014). In 2015, the share of international activities in the group's EBITDA rose from 45% to 48%.

In 2015, Gas Natural Fenosa distributed 53 TWh of electricity (+2.8%), including 35 TWh (+1.2%) in Europe (mainly TPA sales) and 18 TWh in Latin America (+6.1%), mainly through regulated sales.

The group distributed 430 TWh of gas (+1.3%), including 181 TWh in Europe (+3.4%) and 248 TWh in Latin America (-0.2%). In the gas distribution business, CGE increased its sales over the course of the year by 11,6% to 44 TWh. Wholesale gas sales increased slightly in 2015 (-1.2% to 285 TWh), despite a 3.7% drop in Spain (158 TWh), while retail sales rose by 7.5% to 31 TWh.

In 2015, Gas Natural Fenosa's installed capacity increased by 4.6% (+686 MW), mainly in Spain (+647 MW, of which 243 MW were renewable capacities and 398 MW CCGT). Gas Natural Fenosa Renovables ended 2015 with a consolidatable installed capacity of 1.145 MW, of which 977 MW came from windpower, 110 MW from mini-hydroelectric production and 58 MW from co-generation and photovoltaic plants. Global power generation increased by 2.6% to 49.5 TWh. In Spain, the group generated 31.6 TWh (+3.4%), despite a 42% fall in hydropower generation (from 4.3 TWh to 2.5 TWh), that was offset by a 42% rise in coal-fired generation (from 5.6 TWh to 8 TWh); CCGT power generation resumed in 2015 (+2.5% to 14.5 TWh). Power generation overseas increased by 1.4% to 18 TWh, in spite of a 2.4% drop in CCGT power generation in Mexico (15.5 TWh).