Repsol's quarterly results

• Adjusted net income, which measures the performance of the businesses, was €1.582 billion, with positive results in all segments, driven by efficiency-oriented management while advancing in the transformation of the company to achieve zero net emissions by 2050.
• Repsol posted a net income of €1.939 billion in the first nine months of 2021, which is higher than in the same period in 2019, prior to the pandemic. 
• Thanks to its integrated business model and the implementation of its 2021-2025 Strategic Plan, the company was able to take advantage of the increase in commodity prices. Through September, the company achieved positive cash flow in all segments and reduced its net debt by 9%, compared to the beginning of the year. 
• This performance and the cash generation resulting from higher commodity prices have led the Board of Directors to propose to the next General Shareholders’ Meeting a 5% increase in the cash dividend, to €0.63 per share, together with a reduction of 75 million shares, equivalent to 4.9% of the share capital.
• After the close of the quarter, Repsol updated its ambitions to accelerate its transformation to lead the energy transition, with an increase of €1 billion in investments by 2025 to boost renewable electricity generation and renewable hydrogen production, as well as other low-carbon initiatives.
• During the first nine months of the year, Repsol implemented important industrial transformation initiatives and continued to consolidate its portfolio of renewable generation assets, an area in which it made progress in its international expansion with the agreement with Hecate Energy in the United States.

Josu Jon Imaz, Repsol CEO

• “Our results have returned to pre-pandemic levels, driven by our efficient management and the implementation of our Strategic Plan. At the same time, we are making firm progress in our transformation to become carbon neutral by 2050.”