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The company's debt falls to a historical low at the same time as the company generates a significant amount cash
Repsol net income rises 28% to 1.646 billion euros
Press Release
06/11/2014 15:10
- Repsol's net profit during the first nine months of the year reached 1.646 billion euros, a 28% gain over the previous year's figure.
- Repsol has continued its intensive exploration activity with new discoveries in Brazil, Russia and United States. The company also started up new production in those countries as well as in Peru and Bolivia.
- In the Downstream business, the company's highly efficient assets led to a 20% gain in the refining margin over the year-earlier period to $3.6 a barrel.
- Repsol has generated a significant amount of cash, enabling it to maintain its level of investments while reducing debt by 72% from the third quarter of last year.
- Repsol's liquidity, 10.448 billion euros, and its low debt, 1.998 billion euros, place it in an optimal position for a new wave of growth.
- The performance and management of the company recently received awards from the Petroleum Economist Magazine, which named Repsol as best energy company of the year and Antonio Brufau as best chief executive.