Galp achieved net results of one billion euros in 2023, up 13.7% on the previous year, thanks to “good results” in all business units, the company announced this Monday.
Galp reported EBITDA (result before taxes) of 3.56 billion euros, down 7.6% from 2022, according to a filing with the Securities Market Commission (CMVM).
By category, upstream EBITDA (exploration and production of oil and natural gas) was €2.26 billion last year, down 26.6%.
The company justified the drop by the decline in oil prices on the world market, emphasizing that in 2023 production increased by 6%.
In the Industrial and Medium Business category (transportation, storage and marketing of crude oil and natural gas), EBITDA reached €929 million last year, more than double the 2022 figure.
However, Gulp admitted that he expects EBITDA to decline by 13% this year.
The group’s net debt rose from €1.21 billion at the end of September to €1.4 billion at the end of December.
Author: Lusa
Source: CM Jornal
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