Francisco Reynés, executive chairman of Naturgy (formerly Gas Natural Fenosa), has mentioned the great value of the energy multinational company in the reorganisation of the sector in Europe. He has also expressed that they are open to corporate acquisitions.
Francisco Reynés has made these statements during an interview with the Spanish newspaper EXPANSIÓN, leader in economic news.
Francisco Reynés has mentioned the Naturgy Strategic Plan for the period 2018-2022, which was presented some weeks ago in London; a plan that promises its shareholders to increase the dividend in cash by at least 5% per year until the end of the period.
To reinforce the new shareholder remuneration policy, and if the intended acquisitions do not materialize, the company could allocate a maximum of € 2,000 million in the period as share buyback.
About this possibility, Francisco Reynés has explained that “in march, when we started to design the strategic action plan, we decided to conceive it without restrictions so that we can accomplish our own strategic decisions”.
“We want to demonstrate that it is not necessary to buy another company; Naturgy is in a position to develop by itself”, he added.
Once the strategic plan has been drafted and presented, Francisco Reynés has recognized that “it is important to look at everything”. It is not a race where you are running alone, you have to look what the competition is doing. To grow in business should not an obsession, it is rather an option”, he said.
Francisco Reynés has also insisted on the need to “play an important role in the reorganisation of the sector (…) We can be a relevant energy actor in Europe”, he concluded.