Repsol Reports Net Income Of €1.235 Billion For First Half 2021

Repsol luminosa

In this period, the company has advanced in the decarbonisation objectives laid out in its 2021–2025 Strategic Plan. The plan and related actions have enabled the company to benefit from the incipient recovery in demand, still below 2019 levels, and the improvements in raw material prices.

As a result, Repsol was obtain positive cash flow in all business segments and a net debt reduction of 6%.

Adjusted net income, specifically measuring the performance of the businesses, was €959 million and positive in all business segments, especially in Exploration and Production.

On July 7, Repsol shareholders received €0.30 gross per share in cash from 2020 profits, in addition to the dividend payout in January,  following  approval  at  the  Annual  General  Meeting  on March 26. On that same occasion, shareholders also approved the distribution of €0.30 gross per share, corresponding to the payment charged against 2021 results.

Josu Jon Imaz, CEO of Repsol, says “The steps we’ve taken have allowed us to obtain the maximum possible value in this complex scenario, taking immediate advantage of the recovery indicators we are seeing, with signals that bring us closer to pre-pandemic levels. At the same time, we are responding to society’s needs and moving decidedly towards our goal of zero net emissions by 2050.”

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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.