- Galp’s 2Q Adjusted Net Income: Surpassed estimates, hitting EU299 million, up 16% year-on-year.
- Adjusted EBITDA: Reached EU849 million, a 7.3% drop year-on-year but exceeded the estimate of EU813.5 million.
- Upstream Adjusted EBITDA: Noted a slight increase of 1.7% year-on-year, standing at EU531 million, though it fell short of the EU566.4 million estimate.
- Industrial and Midstream Adjusted EBITDA: Declined by 22% year-on-year to EU226 million, yet it exceeded the EU167.2 million estimate.
- Adjusted EBIT: Rose by 2.6% year-on-year to EU660 million, surpassing the estimate of EU579.1 million.
- Upstream Adjusted Operating Profit: Increased by 5.9% year-on-year to EU429 million, slightly above the EU422.8 million estimate.
- Industrial and Midstream Adjusted EBIT: Declined by 12% year-on-year to EU191 million, but it comfortably exceeded the EU108.3 million estimate.
- Revenue: Grew by 14% year-on-year, reaching EU5.72 billion, outperforming the EU4.96 billion estimate.
- Net Debt: Reduced by 15% year-on-year to EU1.16 billion, ahead of the EU2.02 billion estimate.
- Full-Year 2024 RCA EBITDA Forecast: Now expected to exceed EU3.1 billion, revising the previous guidance of about EU3.1 billion.
- Net Capex Guidance: Maintained at about EU1 billion annually for 2023-2025.
- 2024 Refining Margin Assumption: Kept at around $8/BOE.
- Dividend Proposal: Board to propose a €0.56/share dividend for the 2024 fiscal year with an interim dividend of €0.28/share to be paid in August 2024.
- Decarbonisation Targets: Currently being reassessed in light of Mopane discoveries in Namibia and the slow pace of renewable developments.
- 2024 Working Interest Production: Expected to exceed 105 kboepd.
- Refining Operations: No significant stoppages planned for the second half of 2024.
- Solar Capacity: Additional 100 megawatts of solar capacity anticipated to be installed by the end of 2024.
- Namibia Operations: Secured necessary equipment and services for the next well, expected in the fourth quarter of 2024.
- Market Consensus: 9 buys, 13 holds, and 2 sells.
A look at Galp Energia Sgps Sa Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 2 | |
| Dividend | 2 | |
| Growth | 5 | |
| Resilience | 4 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Galp Energia Sgps Sa, an integrated energy company with diverse operations across the globe, is set for a promising long-term future according to Smartkarma Smart Scores. With a solid Growth score of 5 and impressive Momentum score of 5, the company is positioned for expansion and sustained positive performance. Additionally, Galp Energia Sgps Sa demonstrates strong Resilience with a score of 4, indicating its ability to weather market uncertainties and challenges.
While the Value and Dividend scores for Galp Energia Sgps Sa are moderate at 2, the company’s overall outlook appears favorable, driven by its robust Growth, Resilience, and Momentum scores. Operating in key regions such as the South Atlantic, including Brazil and Mozambique, coupled with downstream activities in Iberia, Galp Energia Sgps Sa is strategically positioned for continued growth and success in the energy sector.
Summary: Galp Energia Sgps Sa is an integrated energy company with a focus on various regions, including the South Atlantic and Iberia, engaging in activities such as Refining & Marketing and Gas & Power businesses. The company’s positive Smartkarma Smart Scores in Growth, Resilience, and Momentum indicate a promising future outlook.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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