Repsol

2009 results

Repsol, with its 30% share in Gas Natural SDG, contributes throughout the gas value chain, from supply to distribution and sales, as well as its electricity business after Gas Natural SDG purchased Unión Fenosa, S.A.

In 2009, Gas Natural SDG contributed operating profits of 748 million Euros to Repsol, an increase of 34.8% over the previous year. The EBITDA for the year came to 1.232 billion Euros, compared to 848 million in 2008, representing an increase of 45.3%, partly due to the incorporation of Unión Fenosa.

Despite the context of shrinking energy demand and the significant level of volatility of energy prices which have characterised this last year, there was an increase in profits  from regulated activities and efficiency levels improved in management of the global portfolio. The profits obtained in such a scenario add value to the Gas Natural SDG business model, based on a suitable balance between regulated and liberalised business in the gas and electricity markets.

Futhermore, the opening of the first regasification terminal in Canada, Canaport LNG, consolidates Stream (a company in which Repsol YPF and Gas Natural SDG hold shares) as the fourth largest transporter of LNG in the world.

Further information

• Management Report 
• Inauguration of Regasification Plant in Canada   

1st Quarter 2010

The operating profit for Gas Natural Fenosa in the first quarter of this year came to 256 million euro, versus the 169 million euro reported for the same period in 2009. This represents an increase of 51.5%, due largely to the inclusion of the profits from Unión Fenosa in Gas Natural SDG.

The investments of Gas Natural Fenosa corresponding to its proportional consolidation in Repsol during this quarter stood at 118 million euro, and were mainly devoted to the distribution of gas and electricity in Spain and Latin America and the generation of electricity in Spain and Mexico.

Further information:

• Note on Profits 1st Quarter    

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