Repsol reports first quarter net income of €1.112 billion

Repsol's bet on alternative energiesRepsol's offshore platform

In January, a cash dividend of €0.35 gross per share was paid out. The same amount will be proposed to the Annual General Meeting for distribution in July. With these payments, Repsol will increase cash remuneration for its shareholders by 11% in 2023, in addition to a capital reduction of 50 million shares.

During the quarter, Repsol invested €1.726 billion, mainly in Spain and the United States. The company expects 35% of investments in 2023 to be allocated to low-carbon projects.

Repsol continues to offer discounts at its service stations in Spain. During the whole of 2022 and the first quarter of 2023, this effort has resulted in additional savings for customers of close to €550 million.

Thanks to the launch of its new Connected Energies program, Repsol, from April 1, offers discounts ranging from 5 to 20 euro cents per litre of fuel depending on the number of products contracted: fuel, electricity, heating, solar, and electric mobility.

Josu Jon Imaz, CEO of Repsol, says “Our integrated business model, as well as the fulfillment and ambition of our Strategic Plan, are key to delivering solid results. At the same time, we continue to raise our multi-energy profile and make progress in decarbonization. We have launched a pioneering

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