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Spain: Repsol Posts 65% Increase In First Half 2017 Net Income

Spain: Repsol Posts 65% Increase In First Half 2017 Net Income

During the first half of the year, Repsol posted net income of 1.056 billion euros, which is a 65% increase over the same period during the previous year.

 

Reflecting the strength of the company’s businesses as well as the success of efficiency programs implemented in the current context of low fuel prices, adjusted net income increased by 23% and EBITDA by 29%.

In line with the company's planning, Repsol's average hydrocarbon production during the first half of the year was 684,900 barrels of fuel equivalent per day.

In a period in which the company made significant hydrocarbon discoveries in the United States and Trinidad and Tobago, the Upstream (Exploration and Production) unit area posted 339 million euros.

Repsol's major generator of cash, which is the net adjusted result for the downstream area, totaled 929 million euros, consistent with the 934 million euros obtained in the first half of 2016.

In this sector worldwide, Repsol became the first company to issue a certified green bond, to finance more than 300 initiatives aimed at reducing CO2 emissions. PWKD02082017

Last modified onTuesday, 01 August 2017 18:49
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