REN - Redes Energéticas Nacionais, SGPS, S.A. Reports Earnings Results for the First Quarter Ended March 31, 2023
April 27, 2023 at 10:44 am EDT
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REN - Redes Energéticas Nacionais, SGPS, S.A. reported earnings results for the first quarter ended March 31, 2023. For the first quarter, the company reported sales was EUR 203.45 million compared to EUR 167.58 million a year ago. Revenue was EUR 215.91 million compared to EUR 178.73 million a year ago.
Net income was EUR 12.79 million compared to EUR 5.96 million a year ago. Basic earnings per share from continuing operations was EUR 0.02 compared to EUR 0.01 a year ago.
REN - Redes Energéticas Nacionais, SGPS, S.A. specializes in the operation and concession management of the Portuguese electricity transportation network. Net sales break down by activity sector as follows:
- electricity (63.7%): transportation of electricity from producers to end distributors and consumers, management of the electricity transportation network (connecting user installations to the network, maintenance of the network, etc.). At the end of 2022, the network has a total of 9,424 Km;
- gas (34.8%): transportation of natural gas from producers to end distributors and industrial consumers, underground storage of natural gas, receiving, storage, and regasification of liquid natural gas (LNG), infrastructure construction and maintenance services, etc.;
- telecommunications (1.3%);
- other (0.2%).
REN - REDES ENERGÉTICAS NACIONAIS, SGPS, S.A. 
