Galp Q2 Net Income Rises

GALP Energia

17.82 CHF -5.93%

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(RTTNews) - Galp Energia (GZ5.F, GALP.LS) reported second quarter IFRS net income - attributable to Galp Energia shareholders of 762 million euros compared to 315 million euros, last year. RCA Ebitda was 1.27 billion euros compared to 840 million euros, prior year, reflecting strong operational delivery across businesses in a volatile commodities price environment, with Upstream supported by higher realisations, whilst Industrial & Midstream and Commercial capturing volatility and seasonal trends. RC Net income - attributable to Galp Energia shareholders was 681 million euros, up 73%. Second quarter turnover was 6.80 billion euros, up 35% from prior year. Sales were 6.62 billion euros compared to 4.89 billion euros, last year.

Galp said its second quarter performance reflected strong operational delivery in the volatile commodities price environment stemming from increased geopolitical risk in the Middle East, with repercussions on global energy markets during the period. Galp's Board of Directors will propose to the Annual General Shareholders Meeting of 2027 a dividend per share increase of 10% to 0.70 euros per share, with the first interim anticipation of 0.35 euros payable in August 2026.

As of latest market close on Euronext Lisbon, Galp Energia shares were trading at 20.03 euros.

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