MADRID: Spanish utility Naturgy on Thursday reported a 19% drop in 2020 core earnings on lower demand for gas and electricity as a result of the coronavirus outbreak and a less favourable international gas market.

Naturgy's earnings before interest, tax, depreciation and amortisation fell to 3.45 billion euros ($4.14 billion) in 2020 from a revised 4.25 billion in 2019. The company booked an annual net loss of 347 million euros versus a net profit of 1.4 billion a year earlier.