A table with several papers with economic data, balance sheets, and a laptop, Financial policy

Financial Policy

Our aim is to ensure our financial solvency in order to guarantee the continuity of our businesses and their development within the framework of the strategy defined by the Company. This will be achieved through the definition of the optimal financial structure, the efficient use of resources, and the appropriate management of the Group's financial risks.

 

 

Our commitment

  • Optimizing the financial structure of the Repsol Group to make it compatible with its credit rating in the investment-grade category, defining the own financial resources and liabilities of the companies it comprises.
  • Proposing a shareholder remuneration that is competitive and consistent with the evolution of the businesses for its approval by the Company's bodies.
  • Focusing financial management on the optimisation of profit and efficiency in the use of financial resources, seeking:
  • to ensure unity of action towards the market in financial operations themselves, optimising financing costs and the profitability of liquidity, within the framework of the prudent management of financial risks;
  • to support businesses in their operations, guiding them in the use of financial resources and working capital and advising them in the making of investment or divestment decisions;
  • to manage in a unified matter the issuance of financial and technical guarantees by companies within the Group or other entities on behalf of Group companies;
  • to ensure consistency and reasonableness in the financial commitments and covenants assumed by the Group in any contract, regardless of its nature.
  • Managing interaction between the Group and rating agencies as well as the development of relationships with financial entities, in order to guarantee optimal access to financial and banking products and services
  • Identifying and managing the Group's financial risks within the established limits, in accordance with internal regulations and market best practices.
  • Planning the Group's financial needs in order to anticipate access to financial markets under the best possible conditions and ensure the necessary availability of funds, maintaining an optimal level of liquid assets.
  • Monitoring the behavior – and, in particular, the liquidity – of listed securities issued by the companies of the Group, acting, where appropriate, according to the applicable internal regulations and taking into account the recommendations of the supervisory bodies.
  • Acting responsibly in financial markets and stock exchanges, in accordance with the regulatory framework established by said markets and its regulators and supervisory bodies.
  • Providing information regarding the financial situation of the Group and the risks that may affect it in a transparent way, both at the regulatory (public) level and at the management (internal) level.

All Repsol employees are responsible for complying with this policy.

 

This policy was approved by the Board of Directors of Repsol S. A. on March 29th, 2017.