Report
Ahmed Ben Salem

GALP : Résultats en ligne mais baisse du cash-flow avec un impact possible sur le dividende

>Upstream: une décote vs Brent qui perdure et des coûts en hausse - L'EBITDA ajusté de l'Upstream s'est établi à 522 M€ (+11.8% QoQ), et ce avec une production stable en séquentiel à 126.6 kbeo/j en raison de maintenances avec un mix de seulement 8% pour le gaz naturel. Ce résultat a profité de la hausse du prix du pétrole (+6.4%), contrebalancé par une décote de 8.5 $/b sur le prix de réalisation qui persiste depuis quelques trimestres contre une décote de seulement ...
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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