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REFILE-Gas Natural 9-mth net misses forecasts

Wed Nov 4, 2009 2:41am EST

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(Corrects to remove extraneous words in headline)

MADRID, Nov 4 (Reuters) - Spanish utility Gas Natural (GAS.MC) said net profit rose 13.5 percent in the first nine months of 2009 to 914 million euros ($1.35 billion), just below estimates for 923 million euros from a Reuters poll of seven analysts.

Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 49.7 percent to 2.88 billion euros, well ahead of forecasts for 2.76 billion euros, fuelled by the full consolidation of Union Fenosa during the third quarter.

Gas Natural, which completed its acquisition of the power company earlier this year in a borrowing-financed operation, said net debt stood at 21.9 billion euros at the end of September.

(Reporting by Jonathan Gleave; Editing by Erica Billingham)



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