Repsol : Q1 results 9% higher than forecast and resilient cash flow
>Adjusted net profit 9% higher than the consensus - Adjusted attributable net profit clocked in at € 618m in Q1 2019, i.e. -2% q-o-q /6% y-o-y, 7% higher than our forecasts and 9% higher than the consensus (ODDO BHF: € 577m; consensus: € 566m). This result is buoyed by a favourable surprise in the upstream business.Rise in upstream thanks to low operating charges - Adjusted net profit for the upstream business clocked in at € 323m, up 4% q-o-q and 15...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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