Repsol announces financial results for Jan-Sept period of 2014
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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