Repsol yesterday presented its results for the 2022 financial year. The oil company recorded profits of €4.251 billion, an increase of 70% compared to 2021. The company’s EBITDA rose to 13,813 million, up 40%. Investments amounted to 4,182 million euros. Net debt was reduced by 61% to 2,256 million and liquidity increased to €12,000 million.
Regarding the dividend, Repsol announces that it will propose at the next General Shareholders’ Meeting a 3.77% reduction in share capital, which will end in July, and a share buyback programme for 2.6% of the capital. In addition, it confirms an 11% increase in shareholder remuneration to 0.70 euros/share which will be distributed in 2023, bringing forward the remuneration planned for 2024.
On the other hand, the CEO, Josu Jon Imaz, has accused the government of “populism” and has estimated the extra tax that the company will have to pay this year for the 2022 financial year at €450 million. The government has established a new energy tax of 1.2% on the sales of electricity and oil companies with revenues of over €1,000 million.
