Repsol announced that it returned to profit in the second quarter of last year, and reached a pre-pandemic level in terms of results and cash flow.
The Spanish energy company announced a net profit of 560 million Euros compared to the losses of 711 million Euros a year ago.
On an adjusted basis, net profit for the quarter stood at 872 million euros.
EBITDA during the period more than doubled to 2.58 billion euros from 1.26 billion euros a year ago.
The company stressed that upstream production in the fourth quarter amounted to 561,000 barrels per day.
Adjusted revenues from upstream increased to 624 million Euros, mainly due to higher oil and gas prices, lower research and depreciation costs.
For the whole year, the company showed a net profit of 2.50 billion Euros compared to the losses of 3.29 billion Euros a year ago.
The adjusted net profit of 2021 amounted to 2.45 billion Euros compared to 600 million Euros a year ago.
Net debt stood at 5.76 billion euros at the end of the year.
Source: Capital
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