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Naturgy Energy Group (NTGY) investor relations material
Naturgy Energy Group Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Net income rose to €530m in 1Q26, up 4.7% year-over-year, supported by robust performance across all business units amid volatile energy markets driven by Middle East conflict.
EBITDA increased 6.5% to €1,362m from €1,279m in 1Q25, with broad-based growth across segments.
Free cash flow after minorities reached €810m, up 11.6%, and net debt decreased to €12,151m, preserving balance sheet flexibility.
Capex declined 17.9% to €339m, focused on networks and renewables.
Final 2025 dividend of €0.57/share was paid in March; total 2025 dividend was €1.77/share, up 10.6% from 2024.
Financial highlights
Net sales fell 6.9% year-over-year to €5,101m, but EBITDA and EBIT grew 6.5% and 5.8%, respectively.
Funds from operations increased to €1,106m from €1,018m in 1Q25.
Average cost of debt held steady at 3.9%, with 66% of debt at fixed rates.
Net debt/LTM EBITDA at 2.2x; EBITDA/cost of net financial debt at 10.4x.
Liquidity at €10,230m, including €4,746m in cash and €5,484m in undrawn credit lines.
Outlook and guidance
Well positioned to navigate continued market volatility through 2026, leveraging flexibility, risk management, and disciplined capital allocation.
Improved visibility for 2026 with regulatory clarity and ongoing execution of growth projects, including 1.2GW of renewables under construction.
Uncertainty persists regarding the duration and macroeconomic impact of the Middle East conflict.
- Record 2025 results, operational excellence, and strengthened governance drive future growth.NTGY
Corporate presentation25 Mar 2026 - EBITDA €5,334m, net income €2,023m, strong cash flow, and robust FY26 outlook.NTGY
H2 202518 Feb 2026 - Record 1H24 results, strong outlook, and new growth-focused strategic plan announced.NTGY
H1 20243 Feb 2026 - EBITDA of €5,365m in 2024, with renewables and regulated growth, and a €6.4bn capex plan.NTGY
H2 20248 Jan 2026 - Record 2024 results, €1.60/share dividend, and €6.4bn investment plan unanimously approved.NTGY
AGM 20252 Dec 2025 - Record H1 2025 results, €2,848m EBITDA, 10% net income growth, and guidance above consensus.NTGY
H1 20254 Nov 2025 - Net income up 5.6% to €1,668m, free float and liquidity improved, FY25 guidance reaffirmed.NTGY
Q3 202529 Oct 2025
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