Repsol : Q2, 10% higher than expected. Solid cash generation
>Higher than expected Q2 results - Adjusted attributable net profit for Q2 stood at € 2.121bn (+100.9% QoQ /+131.3% YoY) and exceeded estimates by 10% (ODDO BHF: €1.901bn; consensus: €1.922bn), benefiting from the rebound in oil and gas prices and better margins in refining, especially diesel. Upstream: solid earnings despite decline in production - Adjusted upstream earnings totalled € 947m, 1.4% below our estimates and 8% ahead of the consensus (OD...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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