Repsol has earned a registered net result of 1,112 million euros between January and March 2023, 20% less than that obtained during the same period of the previous year according to the information presented this Thursday before the National Securities Market Commission (CNMV). .
Ebitda stood at 2,696 million euros, also 20% below the previous year. An evolution that the company explains by the evolution of the international context. “Hydrocarbon prices fell significantly between January and March, weighed down by the uncertain economic outlook in the United States and Europe given the difficulties in curbing global inflation. Brent crude oil lowered its average price to 81 dollars per barrel, 21% less than in the first quarter of 2022, with a notable drop in March, to 72 dollars per barrel, derived from the banking crisis experienced in the middle of the month , 32% lower than that of the same months of 2022, â€says the statement.
Despite this context, Repsol invested 1,726 million euros in the quarter to continue developing the 2021-2025 Strategic Plan, mainly for Spain and the United States. The company expects that 35% of the investments in 2023 will go to low-carbon projects.
“Our integrated business model, as well as the fulfillment and ambition of our Strategic Plan, are being essential to obtain solid results. At the same time, we continue to raise our multi-energy profile and make progress in decarbonisation. We have launched a pioneering commercial offer in Spain, which helps our customers in their day-to-day activities by linking all the energies necessary for mobility and the home, and strengthens our company vision”, Josu Jon Imaz assured in the information transferred to the market.
The company has expanded the aid program for its clients to alleviate the consequences of the war in Ukraine. The announcement of this extension occurred in a pioneering way in the last days of the year 2022, after the Government of Spain announced that it was not extending the state rebate on the price of fuel. Adding the whole of 2022 and the first three months of 2023, the company records a cost in this type of aid to customers of 550 million euros.
In January, a cash dividend of 0.35 euros gross per share was paid, the same amount proposed to the General Meeting for its distribution in July. With these payments, Repsol will increase cash remuneration for its shareholders by 11% in 2023, to which a capital reduction of 50 million shares will be added.
