Spanish oil company Repsol posted a profit of EUR 3,222 million between January and September, an increase of 66.2% compared to the same months in 2021, the company announced today.
Repsol attributed the results in the first three quarters of the year to the price increases of hydrocarbons (oil components).
The company’s first-nine-year profit before interest, taxes, depreciation and amortization (EBITDA) nearly doubled, up 94.5% compared to the same period last year to reach EUR 10,863 million.
Repsol emphasized in the information released today that these results allow it to “partially offset the losses” from 2019 and 2020, “of more than 7,100 million euros”, arising from asset adjustments to reduce and neutralize emissions. consequences of the covid-19 pandemic.
Repsol reduced its net debt to EUR 2,181 million at the end of September, EUR 3,581 million less than at the beginning of the year.
In addition, the group’s liquidity, present in Portugal, rose to EUR 12,426 million at the end of September.
Repsol Executive Chairman Josu Jon Imaz emphasized that the group has “taken very important steps to drive its transformation, its ‘multi-energy’ and low-carbon profile” and in this regard emphasized the alliances with strategic partners that have developed in recent months. are closed. the upstream companies (exploration and production area) and renewable energy sources.
Source: DN
