UPDATE 2-Spain's Gas Natural sees further hit from energy reform

martes 18 de febrero de 2014 11:06 GYT

* Gas Natural 2013 core profit steady at 5.1 billion euros

* Sees 600 million euro EBITDA hit from energy reforms in 2014

* Enagas 2013 net profit up 6.5 percent but cuts 2014 target (Adds impact of energy reforms, Enagas results)

By Tracy Rucinski and Andrés González

MADRID, Feb 18 (Reuters) - Spanish utility Gas Natural Fenosa said government energy reforms would wipe 600 million euros ($822 million) off its operating profit this year after a 455 million euro hit left it with flat earnings for 2013.

A series of government reforms including a power generation tax aimed at curbing a multi-billion-euro electricity tariff deficit have been a blow to Spain's utilities, which are also suffering from falling demand in a sluggish economy.

But gains in Gas Natural's Latin American and Italian gas businesses helped offset the loss from the reforms last year.

Barcelona-based Gas Natural's full-year earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 0.1 percent to 5.1 billion euros, it said on Tuesday, versus 5.0 billion forecast in a Reuters poll of analysts.

Chief Executive Rafael Villaseca said the figure was steady year-on-year thanks to strength abroad.   Continuación...