Galp Energia posts H1 net profit of €508M, up 21% on year ago
The drop in EBITDA was due to lower market conditions during the half-year, as well as the exclusion of the upstream business in Angola.
Portugal’s Galp Energia had a net profit of €508 million in the first six months of the year, 21% more than in the same period of 2022, the company announced on Monday.
In a statement sent to Portugal’s Securities Markets Commission (CMVM), the oil, gas and electricity company states that EBITDA (earnings before taxes, interest, depreciation and amortisation) in the first half of the year totalled €1.787 billion, or 16% less than in the same period of 2022.
The statement explains that the drop in EBITDA was due to lower market conditions during the half-year, as well as the exclusion of the upstream business in Angola.
