The company invoiced 1,112 million euros between January and March, 20.1% less than last year.
Repsol achieved a net profit of EUR 1,112 million in the first quarter of 2023, which is 20.1% less than in the same period of the previous year. The company blames the decline the drop in crude oil in the same quarter on average 20% on an annual basis.
According to the presentation sent to the market, it is gross operating income decreased by 20.3%, to EUR 2,696 million, while CCS EBITDA, after taking into account the variation in the value of inventories and extraordinary items, amounted to EUR 3,061 million, up 24.6%.
Anyway, the adjusted resultthat specifically measures the operation of companies, reached the €1.891 billionthat’s 78.4% more than the 1,060 million recorded a year earlier.
Repsol’s businesses performed well, although hydrocarbon prices fell due to the uncertain economic outlook in the US and Europe in the face of global inflation. For example, Brent rough lowered the average price to $81 a barrel; And gas henry hub paid on average $3.4 per MBtu (measurement for gas).
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
