Report
Ahmed Ben Salem

GALP : Résultats légèrement supérieurs aux attentes mais déception sur les guidances

>Upstream : Une production stable, il faudra attendre 2025 pour la croissance - L’EBITDA ajusté de l’Upstream est ressorti 8% supérieur aux attentes. Toutefois le groupe a publié une guidance de production assez décevante avec une stabilité attendue en 2023-24 à 110 kbep/j vs 128 kbep/j au T4 22 et ce après l’annonce de la cession de ses actifs en Angola. Le groupe guide sur une croissance de la production de 30% d’ici 2026 vs 25% en 2025 précédemment qui s’explique ...
Underlying
GALP Energia SGPS SA Class B

Galp Energia is a holding company. Through its subsidiaries, Co. operates in the following segments: exploration and production, with activities relating to exploration, development and production of hydrocarbons, particularly in Angola, Brazil and Mozambique; refining and marketing, which owns refineries in Portugal and also includes activities relating to the retail and wholesale commercialization of oil products; and gas and power, which covers the purchasing, commercialization, distribution and storage of natural gas and electric and thermal power production. As of Dec 31 2014, Co. had proved and probable reserves of 638.0 million barrels of oil equivalent.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Ahmed Ben Salem

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