Enagás faces a way forward for stability on the high. According to varied sources conversant in the state of affairs, the corporate’s shareholders plan to resume the primary administration positions on the bizarre shareholders’ assembly in 2026, which is often held between the tip of March and the start of April.
Specifically, these sources assume that the corporate’s president, Antonio Llardén, and its CEO, Arturo Gonzalo Aizpiri, will renew their mandate for 4 extra years. Enagás sources have declined to remark and level out that this choice corresponds to its homeowners. Among the primary shareholders of Enagás, the State Society of Industrial Participations (SEPI) stands out, which holds 5% of the share capital. Amancio Ortega, proprietor of Inditex and the richest man in Spain in keeping with Forbes, provides one other 5% of the capital. The third largest shareholder is BlackRock. The largest funding supervisor on the earth has 4.36% of the shares, in keeping with the information of the National Securities Market Commission (CNMV). The remainder of the capital is extensively distributed amongst minority shareholders.
Although nothing may be taken as a right but, within the enterprise and political surroundings the problem has been on the desk for weeks. At this level, deadlines are tightening. One month earlier than the assembly, that’s, between the tip of February and the start of March, the appointment proposals have to be authorized on the February board of administrators. And by then, the council itself should make its proposals and these have to be validated by the Sustainability and Appointments Commission.
If the renewal is confirmed, it might be the second time period for the CEO, who was appointed CEO in 2022 after his time at Repsol. Currently, Arturo Gonzalo Aizpiri is immersed within the execution of the strategic plan that the corporate deployed, centered on Europe and on rising in new vectors reminiscent of renewable gases, amongst which the corporate’s dedication to hydrogen stands out. Aizpiri was appointed when Teresa Ribera was nonetheless Minister for the Ecological Transition and enjoys good institutional relations on the highest stage. On January 28, the Third Vice President and Minister for the Ecological Transition, Sara Aagesen, will open the 4th Hydrogen Day, an occasion organized by Enagás itself.
Llardén modified class in 2022. The supervisor turned non-executive president and handed over all powers to Gonzalo Aizpiri, who has assumed a number one function within the administration of the corporate whereas the president occupies a place extra centered on the institutional half. Both leaders take pleasure in good concord.
Renewal of administrators
In addition to the president and the CEO of the gasoline firm, 4 different administrators will likely be renewed on the shareholders assembly. In 2022, Ana Palacio was renewed for the third time as an impartial director. If her presence is prolonged for 4 extra years, she’s going to foreseeably change class and change into an exterior director, a standing acquired by these administrators who exceed three phrases and are not impartial attributable to their relationship with the corporate, in keeping with the nice governance guidelines dictated by the CNMV. The sources consulted point out that Ana Palacio, coordinating director and president of the Sustainability and Appointments committee, is very appreciated throughout the firm for her information and contributions to the worldwide geopolitical panorama, a key issue for the corporate’s strategic actions.
In addition, María Teresa Costa, Clara García Fernández-Muro, Manuel González and David Sandalow, appointed to the 2022 board, should renew their votes. The sources consulted point out that it’s regular for there to be a excessive share of continuity, though the ultimate choice will likely be confirmed in simply over a month.
In 2025, Natalia Fabra left the board of Enagás and joined the board of Red Eléctrica; Her place was occupied by María Elena Massot, who was president of FemCat and has affect throughout the world of enterprise and politics in Catalonia. Last yr, numerous corporations owned and managed by the State gave rise to positions near public powers and Catalan events, which sought to exert their affect past the Congress of Deputies, the place their votes have been mandatory for the Government to hold out totally different legislative initiatives.
In 2024, José Montilla, José Blanco and Cristóbal Gallego, who’re presently midway via their second time period, additionally renewed as administrators of Enagás.
In the final yr, Enagás has risen 13% on the inventory market after the correction suffered since 2022. The firm’s motion is very correlated with rates of interest, and when these rise, the corporate’s shares often fall, provided that it’s thought-about a protected asset throughout the variable revenue attributable to its stability of outcomes and its beneficiant shareholder remuneration coverage.
Until September 30, 2025, the final time it printed outcomes, Enagás obtained a web revenue of 262.8 million euros, together with constructive extraordinary gadgets, and a recurring revenue in keeping with the annual goal of 265 million. Gross working revenue (ebitda) remained in keeping with forecasts, at round 670 million euros for the complete yr. The web debt remained at 2,347 million euros. The firm maintains its tips for fiscal yr 2025, with expectations of assembly revenue and dividend aims.
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