Repsol obtained a web results of 4,251 million euros in 2022, which represents a rise of 70% in comparison with the earlier yr, in a yr marked by uncertainty, volatility and complicated market dynamics, derived from the invasion of Ukraine.
Despite this, the earnings recorded in 2021 and 2022 (6,750 million euros) nonetheless don’t make it potential to offset the losses of the 2019 and 2020 monetary years (7,105 million euros).
The built-in enterprise mannequin and the 2021-2025 Strategic Plan had been “elementary” to attain optimistic efficiency, in accordance with the corporate, which plans to allocate a historic natural funding of greater than 5,000 million euros to spice up its multi-energy profile.
In 2022, Repsol invested 4,182 million euros to advance its transformation, 40% greater than the earlier yr, primarily within the Iberian Peninsula and the United States.
Additional reductions and assure of provide
To assist prospects in an inflationary context, Repsol allotted greater than 500 million euros to extra reductions on gasoline at its service stations in Spain.
Likewise, Repsol made a further effort in 2022 to ensure provide in Spain, in a context of rigidity in worldwide markets, and got here to allocate greater than 2,000 million euros to extend its inventories.
“We are conscious of our work as a vital service for society. For us, it’s all the time a precedence to meet this duty, which emerges with extra significance, if potential, in troublesome instances like those we’ve got skilled lately. In 2022, we We are making an effort to ensure provide, scale back the affect of the vitality disaster on our prospects and spend money on the economic way forward for Spain, whereas persevering with to boost our profile as a multi-energy firm and advancing in decarbonisation”, highlighted the CEO of Repsol , Josu Jon Imaz.
Cash technology allowed a 61% discount in web debt through the yr.
Increase in shareholder remuneration
In addition, Repsol introduced an 11% enhance in money remuneration for its shareholders in 2023 and carried out the redemption of 200 million shares, which advantages greater than 520,000 buyers, the overwhelming majority of them minority and positioned in Spain. .
By 2023, Repsol will implement a brand new personal share buyback program and a capital discount.
Thus, the board of administrators has agreed to implement a brand new treasury share repurchase program in 2023 for a most of 35 million shares and to suggest to the following basic assembly a capital discount by way of the redemption of fifty million treasury shares.