Repsol : Q4 earnings better than expected but cash generation in line
>Net profit slightly better than expected - Adjusted net profit came in at € 632m in Q4 2018, i.e. +7.5 q-o-q /y-o-y and 2.3% ahead of our forecasts and 4.8% better than the consensus (Oddo BHF: € 592m, consensus: € 596m). These results benefited from a better downstream performance.Upstream in decline with lower Brent prices - Adjusted net profit in the upstream segment came to € 310m, down 15.8% q-o-q and 12% short of the consensus, under pressur...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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