Spanish Gas Fenosa takes first step to enter the generation business in Chile

Following its acquisition of CGE, Best Business Gas Rates Hispanic enrolled in the registry of interested in the next tender for supply through its subsidiary GPG, which is a member of a Kuwait Investment Fund, with a view to participate in this business.

At the meeting, predicted that at the end of this year the international business of Gas Natural Fenosa will be more than half of the total business – Spain represents 50.5% with data for the first quarter – for the full incorporation of the Chilean General electricity company (CGE).

The net profit for the year 2014 increased 1.2% from 2013 to 1462 million euros. The President described as “reasonable” results since, among others, the impact regulatory for the company was superior to 600 million in 2014. “The results show the capacity of adaptation and management of the company in different market environments,” remarked Gabarró.

In his speech at the ordinary General meeting of shareholders the company commitment with the policy of dividend in cash, the strength of the business model and its ability to continue growing, with an increase of material and intangible investment of 23.6% for 2014.

For his part, Rafael Villaseca CEO of the company, added that the company reached an ebitda of 4.853 million euros in the year 2014, representing a growth of 0.1% on the 2013 and a turnover that grew by 1.7% to reach 24.742 million, and explained that if well in terms absolutes can seem low growths “we believe that considering the environment in which have been achieved, they are more than satisfactory results”.