Repsol, which generates 20% of all energy consumed in Spain, reports €1.42 billion profit in first half of 2023


The company has already paid a final dividend of €0.35 gross per share in July, which together with the one paid in January brought the cash dividend for the year to €0.70 gross per share, 11% more than in the previous year. In addition, Repsol yesterday approved a new capital reduction through the cancellation of 60 million treasury shares, which will be added to the 50 million shares cancelled in June. The combination of dividends and capital reduction will result in the distribution of around €2.4 billion to shareholders in 2023.

On the other hand, Repsol’s tax contribution between January and June amounted to €7,343 million, 67% of which corresponds to Spain.

The group invested €3,047 million in the period, mainly in low-carbon projects. Repsol has reached an operating renewable capacity of 2,016 MW and expects 35% of investments in 2023 to be dedicated to low-carbon projects. During the first half of the year, 43% of total investment went to Spain and 39% to the United States. In the first half of the year, Repsol became the first company to sell 100% renewable fuel on the Iberian Peninsula, after launching the supply of 100% renewable diesel at ten service stations in Spain and Portugal.

The company explains that net debt at the end of the period stood at €797 million, 9% lower than at the end of March and 65% lower than at December 31, 2022. Liquidity reached €11,441 million, enough to cover almost six times the short-term gross debt maturities.

According to Josu Jon Imaz, CEO of Repsol, “We are consistently delivering solid results in challenging environments as we continue to transform the company and build a unique multi-energy offering that facilitates a just transition for our customers”.

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