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Repsol quarterly results
Repsol quarterly results
Quarterly results
Quarterly results
- Repsol posted net income of €1.112 billion in the first quarter of 2023, a period in which the company accentuated its multienergy profile with the launch of an innovative program, unique in Spain, that links all its customer energy offerings.
- The company made progress guided by its 2021-2025 Strategic Plan and its integrated business model, which were key to achieving this result in a quarter in which crude oil prices fell by an average of 20%, compared to the same period the previous year.
- Repsol continues to offer discounts at its service stations in Spain. During the whole of 2022 and the first quarter of 2023, this effort has resulted in additional savings for customers of close to €550 million.
- Thanks to the launch of its new Connected Energies program, Repsol, from April 1, offers discounts ranging from 5 to 20 euro cents per liter of fuel depending on the number of products contracted: fuel, electricity, heating, solar, and electric mobility.
- During the quarter, Repsol invested €1.726 billion, mainly in Spain and the United States. The company expects 35% of investments in 2023 to be allocated to low-carbon projects.
- In January, a cash dividend of €0.35 gross per share was paid out. The same amount will be proposed to the Annual General Meeting for distribution in July. With these payments, Repsol will increase cash remuneration for its shareholders by 11% in 2023, in addition to a capital reduction of 50 million shares.
€550 M
in additional savings at Repsol service stations in Spain in 2022 and the first quarter of 2023.
€0.20/l
The new Connected Energies program offers discounts of up to €20 per liter of fuel.
35%
Of the investments planned for 2023 will be allocated to low-carbon projects.
€0.70/sh
11% increase in cash dividend and capital reduction of 50 million shares.
“Our integrated business model, as well as the fulfillment and ambition of our Strategic Plan, are key to delivering solid results. At the same time, we continue to raise our multi-energy profile and make progress in decarbonization. We have launched a pioneering commercial offer in Spain, which helps our customers day-to-day by linking all the energies needed for mobility and the home and reinforces our vision as a company.”
Josu Jon Imaz, Repsol CEO
2023