Repsol : Q1 2021 results better than forecast, EBITDA guidance upgraded but caution on refining
>Q1 results 30% better than expected - Net profit came in at € 471m, 30% better than expected (ODDO BHF: € 355m; cs: € 365m) thanks mainly to the recovery in oil prices and despite excessively low refining margins.Upstream: improving portfolio capturing oil price growth - Upstream adjusted net income amounted to € 327m (vs € 195m in Q4 2020), spurred by higher oil and gas prices as well as by lower costs, reduced D&A and a better mix with the restart ...Repsol is an oil and gas company. Co. is engaged in all the activities relating to the oil and gas industry, including exploration, development and production of crude oil and natural gas, transportation of oil products, liquefied petroleum gas (LPG) and natural gas, refining, the production of a wide range of oil products and the retailing of oil products, oil derivatives, petrochemicals, LPG and natural gas, as well as the generation, transportation, distribution and supply of electricity. Co. operates in more than 40 countries. Co.'s operations are divided into four segments: Upstream, Downstream, LNG and Gas Natural Fenosa.
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.
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