Spain’s Repsol sees Q1 profit plummet
by ChemOrbis Editorial Team - content@chemorbis.com
Spanish multinational energy and petrochemical company Repsol registered net income of €969 million for the first quarter of 2024, down by 12.9% from same period last year. The loss in the company’s adjusted income was bigger by a third to €1.26 billion from €1.8 billion in Q1 2023.
The company’s EBITDA was €2.1 billion in the first quarter, down by 20.5% from €2.6 billion announced in the same quarter the previous year.
In the industrial segment, the company’s adjusted income was €731 million, €548 million lower than in the same period of 2023 due to lower results in the refining businesses.
In the refining segment, operating income was €369 million lower year-on-year due to lower refining margins. In the chemicals segment, operating income was €12 million lower year-on-year due to lower sales.
The company’s EBITDA was €2.1 billion in the first quarter, down by 20.5% from €2.6 billion announced in the same quarter the previous year.
In the industrial segment, the company’s adjusted income was €731 million, €548 million lower than in the same period of 2023 due to lower results in the refining businesses.
In the refining segment, operating income was €369 million lower year-on-year due to lower refining margins. In the chemicals segment, operating income was €12 million lower year-on-year due to lower sales.
More free plastics news
Plastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...- March hints at further hikes in European PP, PE markets
- India’s PVC market dips to new lows on Taiwan’s March cuts, players seek signs of bottom
- Q1 turnarounds uplift Mid-East PP, PE markets in February; will it spill over to March?
- SE Asia’s indefinite PE shutdowns: A market in crisis as demand woes threaten survival
- Türkiye’s PPH markets perform better than copolymers in February
- Margin recovery priorities outweigh supply imbalances in European PVC markets
- Asian PVC demand stagnant; recovery hopes shift to end of Q1
- Tough slog in S Korea’s petchem industry spells disappointing 2024 financial results; will government's recent plan help weather the storm?
- China’s PP, PE markets face post-holiday supply surge and tepid demand
- A tug-of-war unfolds in Türkiye as PVC demand struggles against rising costs
