Spanish gas grid operator Enagas said on Tuesday its nine-month net profit fell 12% to 307 million euros ($357.29 million) after a change of regulations in 2020 forced it to charge lower fees in its home market. Profits from its foreign units, mainly Tallgrass Energy in the U.S. and Trans Adriatic Pipeline, rose 39% to 164 million euros, partly offsetting the cost of the new regulation. Enagas reiterated its full-year net profit target of 380 million euros set early this year as it took into account the regulatory changes imposed by the government.
ContextLogic Inc. ( NASDAQ:WISH ) operates as a mobile ecommerce company in Europe, North America, South America, and internationally. The company controls the Wish platform that connects shoppers to merchants.
Spanish gas grid operator Enagas said on Tuesday its net profit is likely to fall 14% in 2021 from the previous year, mainly due to new regulations which forced lower fees in Spain. The company said its net profit is likely to end the year at 380 million euros ($458.17 million) down from 444 million euros in 2020 after net profit in the first quarter fell 22% from a year earlier to 93 million euros. The company said profit at its foreign units, which rose to 48.8 million euros in the first quarter from 35 million euros a year earlier, partly offset the negative effect of the regulatory changes in Spain.