Repsol: quarter on track, share buybacks disappoint

(CercleFinance.com) - On Wednesday, Spanish oil group Repsol reported a 14.
5% increase in first-half net profit to over 1.6 billion euros, in line with analysts' expectations.

Adjusted earnings - an indicator that more specifically measures its operating activities - fell by 21.8% to 2.1 billion euros, however, under the impact of low gas prices and refining margins.

Repsol announced plans to raise its annual dividend by 8% to 0.975 euros 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 the second half of the year, whereas the market was expecting a figure of around 35 million.

Following this publication, the share price fell by 0.6% late Wednesday morning on the Madrid stock exchange.

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