Spain's Enagas on track to meet 2025 targets

MADRID, Oct 21 (Reuters) - Spanish gas grid operator Enagas ENAG.MC said on Tuesday it is on track to meet its 2025 targets after swinging to a profit for the first nine months of the year.

Gains from disposals and the upwards revision of the amount it was awarded in an arbitration on an investment in Peru, as well as operating costs in line with last year, contributed to the swing.

The company posted a 262.8 million euro ($306.5 million) profit compared with a 130.2 million euro net loss in the same period in 2024, when results included a capital loss on the sale of an asset in the United States.

Earlier this year, the firm pledged to invest more than 4 billion euros by the end of the decade, mostly in hydrogen infrastructure, as it diversifies into managing a network of hydrogen infrastructure while also targeting ammonia and CO2 capture businesses.

($1 = 0.8575 euros)