One of the largest energy companies, present in the entire value chain: exploration and production, transformation, development and commercialization of efficient, sustainable and competitive energy.
We are a multi-energy company operating around the globe. Our activities range from oil and gas exploration and production to refining as well as selling derived products and providing services for your everyday life, such as natural gas and electricity.
The people on our team represent our prime competitive advantage and guarantee the company's future. A flexible and committed team comprising over 25,000 employees, united by a shared vision and values.
Our facilities are a reflection of our values and company culture. Our smart buildings promote smooth communication and transparency between team members, while allowing them to be more efficient and versatile in their work.
Our brand reflects our efficient, modern, responsible, and transparent management style which characterizes our company. Moreover, it conveys our values and builds trust.
A global, integrated company with over 90 years of history seeking to supply society's energy needs.
At Repsol, we ensure integrity in the relationships the Company maintains with its suppliers and contractors. Our suppliers are a part of our team and working together enables us to continuously evolve.
We look for energy solutions that meet people's needs and safeguard their well-being. With our solid and diversified business undertakings, we stay one step ahead of the future.
Learn about our Company's annual performance in the area of sustainability.
Our priority is to minimize the environmental impact of our activities by optimizing water management, air emissions, waste management, and spill prevention and response, in addition to considering biodiversity a key element.
We work to be part of the solution to climate change. Our challenge: responding to the demand for energy both responsibly and sustainably.
Each and every one of our decisions aims to guarantee the safety of our workers, customers, users, and suppliers. We firmly believe that all accidents can be prevented, and we develop ever-improving prevention mechanisms.
Each and every one of the actions taken by the people who make up Repsol determine the present and the future of our company. Therefore, we train our employees in core values that must govern their behavior and communicate all of our actions in a way that's reliable, transparent, and verifiable.
We are committed to managing our tax affairs by applying good practices and acting transparently. We pay our taxes responsibly and efficiently, and we foster cooperation with governments, thus avoiding serious risks and unnecessary conflicts.
We make reasonable efforts to ensure that our activities do not have negative impact on human rights, and should they occur, we do everything we can to correct them. Moreover, we do everything within our power to prevent impacts directly related to the activities of our business relationships.
Sustainability is an essential part of our forward-looking vision and the shared commitment undertaken by every one of us at Repsol.
The Repsol Technology Lab is an example of one of the most cutting-edge private R&D models in Spain, based on open innovation, whose objective is to seek sustainable solutions to achieve a more efficient and competitive lower-carbon business.
Innovation is in our DNA. That's why we've taken on the ambitious challenge of transforming the energy sector through the passion of our professionals, people who question things to make them better.
We look for industrial startups that provide disruptive reliability and maintenance solutions, particularly those related to the prediction and detection of corrosion.
Innovation, open collaboration, and a connection with the entrepreneurial world within an environment designed for co-creation. Discover our Open Innovation program.
At Repsol, innovation is part of our DNA. That's why we support education in the technical science field in order to inspire future generations.
Soluciones energéticas 100% renovables: energía solar y electricidad para particulares, empresas y entidades públicas.
Global, integrated, sustainable, and present throughout the entire value chain. These are just some of the compelling attributes that make us as an attractive company.
Useful documents to follow the company's profitability and sustainability-related measures and initiatives.
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Increased presence of independent directors
Presence of women on the Board of Directors
Reduction of the Board of Directors
Increase in shareholder remuneration through scrip dividends
The Repsol Board of Directors has agreed to call the company’s Annual General Meeting to be held, foreseeably on second call, at the Palacio Municipal de Congresos in Madrid on May 31st.
With the proposals contained in the meeting’s agenda, Repsol will advance its good governance best practices, including the separation and transparency of the duties of the Chairman and CEO, the presence of women on the Board of Directors (greater than 30%), the increased presence of independent directors, the appointment of an Lead Independent Director, and the reduction of the number of board members.
The Board will propose the re-election of directors Antonio Brufau, Josu Jon Imaz, José Manuel Loureda, John Robinson West, and Henri Philippe Reichstul for a period of four years.
Antonio Brufau has informed the Board of Directors of his intention to make this his final term, resulting in the termination of his position at the end of this new term.
The Board will also propose the appointment of Aránzazu Estefanía Larrañaga and María Teresa García-Milà Lloveras as Independent Outside Directors for a period of four years. With these appointments, Repsol will have five women on its Board of Directors, which will be reduced to 15 members.
At the Annual General Meeting on May 31st, the Consolidated Financial Statements and Consolidated Management Report for 2018 will be submitted for shareholder approval. The company obtained its best earnings of the last eight years in 2018, posting a net income of 2.341 billion euros.
Additionally, the Board of Directors has agreed to propose a gross shareholder remuneration equivalent to 0.525 euros per share through the “Repsol Flexible Dividend” program and as a substitute for the final dividend of the 2018 fiscal year. This compensation is in addition to that approved by the company as part of the same program and as a substitute for the traditional interim dividend of 2018, for an equivalent gross amount of 0.425 euros per share. The total shareholder remuneration will thus increase to an equivalent of 0.95 euros per share, 5.56% higher than that of last year.
The company plans to increase the dividend until it reaches one euro per share in 2020, as established in Repsol’s 2018-2020 Strategic Plan. In addition, at the Annual General Meeting the Board will propose a reduction in share capital through share buybacks for an amount equivalent to the shares to be issued in 2019 through the scrip dividend.
The Board will also propose that the scrip dividend program be maintained as a formula for shareholder remuneration. This allows shareholders to decide whether they prefer to receive part or all of their distribution in cash or in the form of additional shares in the company. To this end, two necessary capital increases will be submitted for approval by shareholders in order to continue the “Repsol Flexible Dividend” program.
Aránzazu Estefanía Larrañaga holds a degree in law with honors and a prize for extraordinary academic achievement from the University of Deusto.
From 2000 to January 2019, she was a partner at the Uría Menéndez Abogados law firm, at its Bilbao office. She has also been a member of the Board of Directors, the Professional Practice Steering Committee, and the Criminal Risk Prevention Committee at Uría Menéndez. Currently, she is the secretary of the Board of Directors of the Bilbao Exhibition Centre.
She also has teaching experience as an assistant professor in the Department of Civil Law at the University of Deusto. She is a widely renowned lawyer in the field of commercial law, and has practiced extensively in the areas of compliance and criminal risk prevention, as well as safety and environmental law. Since 2013, she has been recognized every year by Best Lawyers in Spain as a leading lawyer in arbitration and mediation, and has been named lawyer of the year in procedural law.
María Teresa García-Milà Lloveras holds a bachelor’s degree in economics from the University of Barcelona and a PhD in economics from the University of Minnesota.
She began her career as an assistant professor in the Department of Economics at the State University of New York, and was later an associate professor in the Department of Economics at the Autonomous University of Barcelona (UAB).
She subsequently held several positions at the Pompeu Fabra University in Barcelona, including roles as professor in the Department of Economics and Business, Dean of the Faculty of Economics and Business Administration, Vice-Provost for Science Policy, and Chair of the Department of Economics and Business.
She is currently the director of the Barcelona Graduate School of Economics, a professor in the Department of Economics at the Pompeu Fabra University in Barcelona, an independent director at Banco Sabadell, and an honorary member of the Spanish Economic Association, of which she is also a former president and vice president.
The information included in this document is published pursuant to the provision of article 226 of the Spanish Securities Market Law.
This document contains statements that Repsol believes constitute forward-looking statements which may include statements regarding the intent, belief, or current expectations of Repsol and its management, including statements with respect to trends affecting Repsol’s financial condition, financial ratios, results of operations, business, strategy, geographic concentration, production volume and reserves, capital expenditures, costs savings, investments and dividend payout policies. These forward-looking statements may also include assumptions regarding future economic and other conditions, such as future crude oil and other prices, refining and marketing margins and exchange rates and are generally identified by the words “expects”, “anticipates”, “forecasts”, “believes”, estimates”, “notices” and similar expressions. These statements are not guarantees of future performance, prices, margins, exchange rates or other events and are subject to material risks, uncertainties, changes and other factors which may be beyond Repsol’s control or may be difficult to predict. Within those risks are those factors described in the filings made by Repsol and its affiliates with the Comisión Nacional del Mercado de Valores in Spain and with any other supervisory authority of those markets where the securities issued by Repsol and/or its affiliates are listed.
Repsol does not undertake to publicly update or revise these forward-looking statements even if experience or future changes make it clear that the projected performance, conditions or events expressed or implied therein will not be realized.
This document does not constitute an offer or invitation to purchase or subscribe shares, pursuant to the provisions of the Royal Legislative Decree 4/2015 of the 23rd of October approving the recast text of the Spanish Securities Market Law and its implementing regulations. In addition, this document does not constitute an offer to purchase, sell, or exchange, neither a request for an offer of purchase, sale or exchange of securities in any other jurisdiction.
The information contained in the document has not been verified or revised by the External Auditors of Repsol.