Norbolsa | The Portuguese oil company beats expectations, with EBITDA up 41% due to increased production and higher crude oil prices, reaching €943m compared to the consensus estimate of €890m. Production in Brazil rose by 23% in Q1.
Galp recorded losses of €111 million in the first quarter of the year due to the impact of one-off items largely related to outstanding financial derivatives.
However, excluding these amounts, the company posted a net profit of €272 million, 41% higher than in the same period of the previous year.
