Repsol posts a net income of 608 million euros in the first quarter

Press Release 30/04/2019 15:00

Repsol's net income reached 608 million euros, in line with the 610 million euros earned in the same period of last year. Adjusted net income, which specifically measures the progress of the company’s businesses, increased by 6% to 618 million euros, as compared to the 583 million euros earned last year.
Repsol achieved these results despite lower oil prices as compared to the same period of 2018 (with a 6% decrease in Brent), and with production in Libya interrupted until March 4th, demonstrating the company’s ability to adapt and create value under any circumstances.
In Indonesia, Repsol made the world’s largest onshore discovery in the first quarter of the year. The recoverable resources discovered are estimated to be equivalent to two years’ worth of gas consumption in Spain.
The Upstream unit (Exploration and Production) continued its positive performance trend, posting an income of 323 million euros, 12.5% greater than the first quarter of 2018.
The Downstream unit (Refining, Chemicals, Mobility, Lubricants, LPG, Trading & Gas, and Repsol Electricidad y Gas) earned 404 million euros, with particularly good performance from Refining, Trading, and Chemicals.
At the end of the quarter, the Board of Directors announced that the Annual General Meeting will take place on May 31st. They will propose a gross shareholder remuneration equivalent to 0.525 euros per share, bringing the total proposed remuneration for the year equivalent to 0.95 euros per share, which represents an increase of 5.6%.

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618 million euros

in adjusted net income

increase on the same period in 2018

0.95 euros per share

total proposed shareholder remuneration

5.6%

increase through scrip dividends