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January-June 2018 Earnings Repsol earnings increase 46% to 1.546 billion euros

  • Repsol's net income was 1.546 billion euros between January and June 2018, representing an increase of 46% compared with the same period of the previous year, and the highest profit recorded for this period in the last decade.
  • Adjusted net income, which specifically measures the performace of the company’s businesses, increased by 12% to 1.132 billion euros, while EBITDA rose to 3.811 billion euros after a 23% increase.
  • The company increased its hydrocarbon production by 6% during the first six months of the year, reaching an average of 724 thousand barrels of oil equivalent per day.
  • Earnings from the Upstream unit (Exploration and Production) increased by 91% as a result of higher production and efficiency measures implemented in recent years, as well as rising international prices.
  • The Downstream unit (Refining, Chemicals, Marketing, Lubricants, Trading, LPG and Gas & Power) demonstrated its strength with earnings of 762 million euros, supported by significant improvements in the areas of Marketing, Trading and Gas & Power, and LPG.
  • Net debt decreased by 64% compared to June 30th, 2017, to 2.706 billion euros at the close of the first half of 2018; a period in which Repsol's shares rose 14%, outperforming the Ibex 35 by 18 percentage points and among the best in the industry in Europe

Average production increases by 6%

million euros

Upstream earnings increase by 91%

dollars per barrel

Refining margin indicator, among the best in Europe

Increase in Repsol share value in the first half of the year

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Conference call

Repsol CEO, Josu Jon Imaz, reported the company's results during a conference call.
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See the company's main earnings figures