Repsol: quarter in line, but share buybacks disappoint
(CercleFinance.com) - On Wednesday, the Spanish oil group Repsol reported a 14.
5% increase in H1 net profit to over E1.6bn, in line with analysts' expectations.
Adjusted earnings - an indicator that more specifically measures its operating activities - fell by 21.8% to E2.1bn, however, under the impact of low gas prices and refining margins.
Repsol announced plans to raise its annual dividend by 8% to E0.975 in 2025, but this increase was more than offset by the prospect of share buybacks that were deemed somewhat disappointing.
The energy company plans to buy back around 20 million shares in H2, whereas the market was expecting around 35 million.
Following this publication, the share price fell by 0.6% late Wednesday morning in Madrid.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
5% increase in H1 net profit to over E1.6bn, in line with analysts' expectations.
Adjusted earnings - an indicator that more specifically measures its operating activities - fell by 21.8% to E2.1bn, however, under the impact of low gas prices and refining margins.
Repsol announced plans to raise its annual dividend by 8% to E0.975 in 2025, but this increase was more than offset by the prospect of share buybacks that were deemed somewhat disappointing.
The energy company plans to buy back around 20 million shares in H2, whereas the market was expecting around 35 million.
Following this publication, the share price fell by 0.6% late Wednesday morning in Madrid.
Copyright (c) 2024 CercleFinance.com. All rights reserved.