Tuesday, February 9, 2016

Galp profit was 639 million excluding the effect of “stock” – Jornal de Negócios – Portugal

Galp earned in the whole of 2015, 639 million non-recurring events are excluded and effect “stock,” the company said in a statement. They are called RCA results ( ‘replacement cost’ set). And it is for this that the company the results tab, in so far as possible to assess the operating performance since it did not clear the effect of the value of “stocks.

Still, the standard accounting rules, the profits of Galp were in 2015 123 million euros.

Since the EUR 639 million compared with profit of 373 million euros in 2014, which implies an increase of 71.5%. Most of the EUR 618 million that the CaixaBI provided for the whole year.

in the fourth quarter, profits rose 8.8% to 149 million euros.

On an adjusted basis, the annual EBITDA atingiuos 1,564 million euros, 19% more than a year earlier, but quartro quarter fell by 22.5% to 309 million euros, with the greatest impact on exploration activity and oil, which fell 48.2% to 53 million euros. the refinição and distribution had a drop in EBITDA in the fourth quarter of 13.4% and the gas and electricity by 13.1%. Operationally, all activities had in the last three months of the year, a fall in profitability. What Galp attaches to desida oil prices, natural gas and petroleum products

In terms of production, Galp. – Who had already disclosed the figures – seen, for the full year, up levels in 59.8% to 43.2 thousand barrels of oil equivalent per day (kboepd), which rises to 45.8 thousand barrels per day is considered the average production “working interest” ( with taxes and operating committees). What contributed the increase in production in Brazil, which rose 82% facxe 2014 to 36 thousand barrels per day.

The company announces that it has sold, in average terms, each barrel by $ 43.5, compared with $ 88.7 a year earlier.

in this area of ​​exploration and production, EBITDA decreased by EUR 88 million over the year, to 356 million, “following the decrease in the average price of sale of oil and natural gas found throughout the year.” Production costs reached 140 million.

In refining, Galp also increased its production by 23.4% to 114.57 million barrels per day. And to extend their margin refinção up to $ 6 per barrel, although in the fourth quarter this has fallen 12.2%, which the company explains the stops “planned” to be held in some units.

in 2014, the company explains, the volume of processed raw materials had suffered an impact from the stop of the Sines refinery.

In this area, the EBITDA amounted to EUR 800 million, which the company attributed the improved results of refinição activity.

Stabilized were sales in terms of amount of oil to immediate customers in 9.1 million tons, having managed to increase by 2.2% of natural gas sales to 3,843 million cubic meters and sales in “trading” rose 2.9% to 3,822 million cubic meters.

The EBITDA in this area totaled EUR 382 million, down 55 million, Galp explained by the lower overall result of the business of electricity and regulated infrastructure. Only in the electricity business, EBITDA fell 32 million, with the two million euros.

(News updated at 7:45 with more data)


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