GALP : Q4 results – EBITDA in line with limited net income, cut dividend and disappointing production and EBITDA guidance
>Upstream: guidance for flat production in 2021 impacted by the pandemic and the drop in capex - In upstream, EBITDA came to € 319m, beating the consensus by 7%. Production came in 10% lower y-o-y due to maintenance turnarounds, at 121Kboe/d. The division also posted an increase in unit production costs this quarter from $ 1.9/boe to $ 2.2/boe q-o-q, which should stabilise below $ 3/b and a slight reduction in D&A from $ 16.3/boe to $ 15.9/boe. As we see it, the drop ...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.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.