Investors

Operating data 2020 2019 2018 CAGR (2018-2020) (1)
Connection points 1,044,243 1,035,062 1,025,525 1%
Natural Gas (NG)<4 bar 960,392 951,595 942,305
Natural Gas (NG)>4 bar 669 668 672
GLP 83,182 82,799 82,548
Distributed Energy NG+LPG (GWh) 27,764 31,967 31,710 -6%
Distributed Energy (NG) (GWh)P 27,397 31,588 31,287
Distributed Energy (LPG) (GWh) 367 379 423
Length of the network (NG+LPG) (Km) 8,306 8,241 8,208 1%
Km NG 7,910 7,861 7,831
Km LPGG 396 381 376

Note 1: Accumulated rate of growth composed from the year 2018 to the year 2020.

Income Statement (In millions of euros) 2020 2019 2018
Revenues 216.4 222.7 229.7
EBITDA 174.1 177.5 171.6
Depreciation & Amortization -84.3 -83.3 -81.9
EBIT 89.8 94.2 89.7

Investments (In millions of euros) and Cash conversion (In %) 2020 2019 2018
Investments 28.2 26.3 22.2
Cash conversion 84% 85% 87%

a. Results Presentations

2020

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Full-year Results Presentation #
First Half 2020 Results Presentation #

2019

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Full-year Results Presentation #
First Half 2019 Results Presentation #

2018

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Full-year Results Presentation #
First Half 2018 Results Presentation #

2017

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Full-year Results Presentation #
 

b. Annual Accounts

Full-year Annual Accounts

2020

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Consolidated Annual Accounts 31 December 2020 (english) #
Consolidated Annual Accounts 31 December 2020 (spanish) #

2019

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Consolidated Annual Accounts 31 December 2019 (english) #
Consolidated Annual Accounts 31 December 2019 (spanish) #

2018

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Consolidated Annual Accounts 31 December 2018 (english) #
Consolidated Annual Accounts 31 December 2018 (spanish) #

2017

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Consolidated Annual Accounts 31 December 2017 (english) #
Consolidated Annual Accounts 31 December 2017 (spanish) #
Consolidated Annual Accounts 30 April 2017 (english) #
Consolidated Annual Accounts 30 April 2017 (spanish) #

2016

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Consolidated Annual Accounts 31 December 2016 (english) #
Consolidated Annual Accounts 31 December 2016 (spanish) #

2015

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Annual Accounts Directors Report 2015 (english) #
Annual Accounts Directors Report 2015 (spanish) #

Debt structure

Facility Maximum available Maturity
10-year 2027 Bonds €575M sep-27
5-year 2022 Bonds €143M sep-22
10-year 2031 Bonds €550M jan-31
Revolving Credit Facility (1) €120M jan-24

(1) The parent company of Nortegas Energía Distribución, S.A.U. has a Revolving Credit Facility amounting to €120M maturing in January 2024 with two 1-year optional extensions.

Bond issuance

ISSUES €575m due 2027 €143M due 2022 €550M due 2031
Issuer NORTEGAS Energía Distribución, S.A.U. NORTEGAS Energía Distribución, S.A.U. NORTEGAS Energía Distribución, S.A.U.
Guarantors NED España Distribución Gas, S.A.U. and NED Suministro GLP, S.A.U NED España Distribución Gas, S.A.U. and NED Suministro GLP, S.A.U NED España Distribución Gas, S.A.U. and NED Suministro GLP, S.A.U
Issuer rating BBB- (stable) by S&P BBB- (stable) by S&P BBB- (stable) by S&P
Documentation EMTN Programme EMTN Programme EMTN Programme
Maturity date 28/09/2027 (10-yr) 28/09/2022 (5-yr) 22/01/2031 (10-yr)
Amount €575M €143M €550M
Coupon 2.065% fixed 0.918% fixed 0.905% fixed
Listing Irish Stock Exchange Irish Stock Exchange Irish Stock Exchange
Listing date 28/09/2017 28/09/2017 22/01/2021
Structure Senior unsecured Senior unsecured Senior unsecured

Credit rating

Agency Corporate Senior unsecured bonds Outlook
S&P BBB- BBB- stable
Warning: the rating may be revised, suspended or withdrawn at any time by the rating agency.

NORTEGAS sales reached 222.8 million in 2017

Bilbao, April 19, 2018. Nortegas‘s income for the 12 months of 2017 reached 222.8 million euros. That amount includes the incorporation of approximately 82,000 LPG customers at the end of 2016, meaning that the company’s connection points now exceed 1 million, making it the leading distributor of gas in northern Spain and the second largest nationally.
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Institutional Investors Advised by JPMorgan, GCC sovereign wealth fund, Swiss Life Asset Managers and Covalis complete acquisition of 100% of Naturgas

Bilbao, July 27, 2017. The company will continue to operate its gas distribution business as an independent company, with the aim of growing in its core areas of activity. Naturgas, that changed the name to nortegas, is the 2nd largest gas distribution network …
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NORTEGAS successfully closes inaugural €1.3bn dual-tranche deal

nortegas Energía Distribución successfully launched an inaugural €1.3bn dual-tranche bond transaction. The deal was structured in two tranches: a €550m 5-year bond and a €750m 10-year bond, in what was the largest inaugural bond debut by a Spanish issuer since 1999…
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nortegas is owned by a consortium of highly experienced infrastructure investors:
  • Institutional investors advised by J.P. Morgan Asset
  • Gulf Cooperation Council Sovereign Wealth fund
  • Swiss Life Asset Management
  • Covalis Capital

NORTEGAS Energía Distribución, S.A.U.

Plaza Euskadi nº 5, Planta 23 48009 Bilbao, Spain. E-mail: ir@nortegas.es