The decline in hydrocarbon prices, especially natural gas, has caused this decline.
Repsol achieved a net profit of 969 million euros in the first quarter of the year, representing a decrease of 12.9% compared to the 1,112 million euros recorded in the same period of the previous year, due to the decline in hydrocarbon prices, especially natural gas, as reported this Thursday by the company.
In this first quarter of 2024, the investment boost of the energy sector, with 2,129 million euros. Of this, more than half was allocated to the growth of renewable energy sources (approximately 1,180 million euros). In the period 2024-2027, the company plans to invest between 16,000 and 19,000 million euros net: 60% intended for the Iberian Peninsula and more than 35% for low-carbon projects.
Likewise, these results include the first of the sections of the extraordinary tax that the Spanish government has set for 2023 and 2024 for energy companies, corresponding to 1.2% of turnover. Last year, Repsol already paid almost 450 million euros for this concept.
So the net result The group’s adjusted adjustment, which specifically measures the company’s progress, amounted to 1,267 million euros in this first quarter of the year, 33% lower than the 1,891 million euros in the same period last year.
The RGross operating profit (Ebitda) amounted to 2,143 million euros at the end of March, a decrease of 20.5% compared to a year ago.
Source: EITB
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