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January-March 2018 Earnings

Repsol posts net income of 610 million euros

  • Repsol posted net income of 610 million euros in the first quarter of 2018. Adjusted net profit, which specifically measures the performance of the company’s business units, increased to 616 million euros.
  • The company increased its hydrocarbon production, reaching 727,000 barrels of oil equivalent per day, the highest since 2012.
  • Earnings from the Upstream unit (Exploration and Production) increased by 43% due to higher production volumes and efficiency measures implemented in recent years, which have contributed to improve the company’s realization prices.
  • The Downstream unit (Refining, Chemicals, Marketing, Lubricants, Trading, LPG and Gas & Power) continued to demonstrate a strong performance, with earnings of 425 million euros supported by significant improvement in the Marketing, LPG, Trading and Gas & Power units.
  • The Board of Directors convened the Annual General Meeting, where and proposed an increase in shareholder distribution for the year to an equivalent of 0.90 euros per share.
  • In addition, the Annual General Meeting will vote on a reduction in share capital through the cancellation of the company’s own shares by an amount equivalent to the shares to be issued in 2018 through scrip dividends.
  • Adjusted net profit increased by 6%
  • 727 thousand boe/day
  • The refining margin indicator well above targets: 6.6 dollars/barrel
Conference Call

Conference Call

Repsol CFO Miguel Martínez reported the company's first quarter financial results from the company's corporate headquarters in Madrid.
Infografía

Infographic

See all the company's main earnings figures.

First quarter 2018