The executive chairman of Naturgy, Francisco Reynés, presided over the company’s Ordinary General Shareholders’ Meeting, which was held today in Madrid fully online for the first time due to the extension of the State of Emergency. The shareholders approved the company’s results, along with its corporate management report for the financial year 2019.

Naturgy has faced a start to 2020 marked by the interruption of COVID-19, the governmental measures adopted worldwide to prevent it spreading, a very volatile macroeconomic scenario and an adverse energy scenario, primarily affected by the decreasing prices of raw materials. The company anticipated the gravity of the situation by urgently calling its crisis committee a few days before the state of alarm was decreed and adopting measures to protect its employees and support customers, shareholders and suppliers.

Naturgy completed today its first corporate bond issuance in Europe under the Strategic Plan presented in June 2018, amounting to €750 million and maturing on 28 November 2029. The issuance was set with an annual coupon of 0.75% and its price represented 99.751% of its nominal value.

Naturgy has made headway on fulfilling its 2018-2022 Strategic Plan, with which it laid the foundations of its long-term value creation strategy. Proof of the company’s smooth progress can be found in its recorded results, which exceeded the market consensus up until September 30, with an ordinary EBITDA reaching 3.397 billion euros, 5% more than the previous year, and an ordinary net profit of 991 million euros.

Naturgy and Sonatrach have entered into an agreement with Mubadala for the acquisition of the 42.09% stake that it holds in Medgaz. Following the completion of the transaction, Medgaz will be entirely owned by Sonatrach (with a 51.0% stake) and Naturgy (with the remaining 49.0%), with a shareholder agreement that gives them joint control of the pipeline.

Naturgy has completed the first year of operation since the company launched its new 2018-22 Strategic Plan which laid the foundations for the company’s long-term value creation strategy. The first six months of 2019 have been marked by the progress in the investment in renewables and power grids, the good evolution of the international business, the implementation of its efficiency plan, the corporate and management reorganization, and the sale of non-strategic assets.

Today, the Luis Buñuel and Reyes Católicos (Zaragoza), and San Agustín (Calahorra) schools were recognised for their projects to improve energy efficiency, which they created in the classroom. The IES María de Molina (Madrid) and the Colegio La Anunciata (Zaragoza) also received special mentions from the panel.

This afternoon, representatives from the Spanish government, the Valencia Regional Government, the Council of the capital of Turia, the Naturgy Foundation and the UIMP took part in the opening ceremony of the ‘Technical scientific bases to improve air quality in Spain’ technology forum.

Naturgy, a member of the Spanish Hydrogen Association (AeH2), has become the first promotional partner of AeH2, demonstrating its strong commitment to developing renewable gas and hydrogen. Through this move, both organisations reinforce their collaboration regarding the innovation, development and use of hydrogen.

The Naturgy Foundation and Cruz Roja have already shown more than 150 families in a situation of energy vulnerability in Alicante how to improve their consumption habits and therefore reduce their energy bills. Since January, the Naturgy Foundation's Energy School has carried out 18 educational sessions in the Cruz Roja offices in Alicante.