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Repsol announces financial results for Jan-Sept period of 2014

by ChemOrbis Editorial Team -
  • 06/11/2014 (15:43)
According to a press release dated November 6 on the company’s website, Spain’s Repsol posted stronger financial results in the first nine months of 2014. The company’s net income rose 28% year over year to reach €1.646 billion in the January- September period.
The company cited higher refining margins and a decrease in financing costs as the main reasons behind its stronger financial results. The company’s third quarter profit increased 41% to reach €415 million on a yearly basis from €295 million in the previous year. Initial forecasts called for a third quarter profit of £408.8 million in a survey conducted by Bloomberg.

Meanwhile, the company’s output rose 6.4% to reach 366,000 barrels of oil equivalent a day in the third quarter while earnings before interest, taxes, depreciation and amortization (EBITDA) were reported at €1.05 billion.
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