Francisco Reynés announced that Gas Natural Fenosa has changed its brand name to Naturgy, in order to become more modern, digital and international.
Francisco Reynés expressed that “we are embarking on a new era; one focused on innovation, experience and digitalisation. And we are doing so with a new image which is more modern, digital and global. It is also more environmentally-friendly, and reflects better the new era that we are entering”.
During his speech in the General Shareholders’ Meeting of Gas Natural Fenosa, now Naturgy, Francisco Reynés has defined the new Strategic Plan 2018-2022, which will be introduced in full in London.
As a preview of that, Francisco Reynés has mentioned that the key aspects of the Strategic Plan 2018-2022 are simplicity in management, focus of attention, efficiency, accountability, investment discipline and innovación. “Our Strategic Plan is going to focus on creating value for shareholders, employers, customers and the environment”, he added.
This General Shareholders’ Meeting has been the first since Francisco Reynés was appointed new Executive Chairman of the company in february.
Moreover, Francisco Reynes pointed out that Naturgy increased profit by 34% to €481 million during the first five months of 2018, where Spain represents around 50% of the business in terms of revenue and EBITDA.
To conclude, Francisco Reynés told shareholders that the company does not rule out further growing through acquisitions, but that it will give more importance to value than size. He added that Naturgy is not currently taking part in any transaction.