Sustained Revenue GrowthConsistent multi-year revenue expansion demonstrates durable demand and effective network roll-out across customer segments. Sustained top-line growth supports economies of scale, funds recurring capex for distribution expansion, and underpins long-term margin and cash generation improvements.
Strong Operating Cash GenerationOperating cash flow outpacing accounting earnings indicates robust cash conversion from core CGD operations. Reliable OCF provides internal funding for network buildout and working capital, reduces reliance on external financing for capex, and creates a structural cushion for dividends or deleveraging over the medium term.
Strategic JV With TotalEnergiesThe partnership with TotalEnergies supplies technical expertise, global gas-sourcing know-how and capital credibility. A strong JV partner helps secure authorizations, accelerate geographic expansion and scale networks, reinforcing competitive advantages in regulated city gas distribution over time.