The Naturgy shareholders’ meeting approved this Tuesday the extension of the mandate of Francico Reynes at the head of the company and he will continue as executive president for the next four years, which will be added to the five that he has already held in office
During the presentation of Naturgy’s results, last February, Reynés had shown his interest in continuing to lead the company as the company’s top executive officer at a time that the manager has not hesitated to describe as “not easy”. before the Board that has given him its support.
Reynés has ensured that Naturgy’s objective for 2023 maintains the commitment already conveyed during the presentation of results to achieve, at least, the same level of income and profits as that achieved in 2022. “As long as the situation that exists in this moment”.
In 2022, Naturgy obtained a net profit of 1,649 million euros in 2022, which represents an increase of 35.8% compared to the previous year,
For this reason, an extraordinary dividend of 0.50 euros per share has been proposed to the meeting and has thus been approved, which will be paid in April and which is added to the one already paid during 2022 of 0.70 euros per share.
Looking ahead to 2023, Reynés has recognized that the price tension in the energy market will continue for the next year, although he does not expect the high prices that were registered during 2022 to be reached.
What has surprised the most about Reynés’s exhibition is precisely what he has not talked about. That is, from the Gemini project. To which he has not referred at any time. During the presentation of results in February, Reynés commented that the interest in the project of dividing the company in two to separate the regulated business from the free one continued until the right moment was found.
What has become relevant is Naturgy’s objective of advancing in its commitment to grow in the renewable energy business, as shown by the fact that during 2022 60% of the investments will be allocated to this objective. The manager has assured that in order to advance in this line, it will be “the one that will allow Naturgy to compete in the coming years, since it is one of the strategic axes of monitoring and what will allow us to be able to compete in the market”, he has recognized. To this end, it has also recognized that the company cannot allow its current businesses to work efficiently in order to generate sufficient liquidity for growth. At the end of 2022, that liquidity reached 9,500 million euros. “Enough not to miss any opportunity,” he said.
