Free Trial

Repsol Posts Strong Q4, Increases Divs & Buybacks; Credit Spreads Muted

ENERGY SECTOR

• Looks like a strong set of results with Q4 beats on CCS EBITDA 9 (by 1.7%) and adj-Income (by 29%) with an announced DPS of 0.9 for 2024 (+29%) and buybacks of up to EUR 5.4bn through 2027.

• Net Debt slightly higher at EUR 2.1bn from EUR 1.9bn at Q3 with the gearing ratio up to 6.7% 5.9% at Q3 while Q4 OCF of EUR 2.2bn was 20% lower YoY (FY OCF of EUR 7bn was 21% lower).

• Not much in terms of outlook but the strategic update for 2024-2027 comes at 9:30 AM (CET).

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.