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Galp Energia, SGPS reports Q2 results

Jul. 25, 2022 9:51 AM ETGalp Energia, SGPS, S.A. (GLPEF) StockGLPEYBy: Niloofer Shaikh, SA News Editor
  • Galp Energia, SGPS press release (OTCPK:GLPEF): Q2 net income of €727M.
  • Revenue of €7.23B (+98.6% Y/Y).
  • CEO comment: “During the second quarter, Galp’s strong performance across all business segments supported a robust set of results. Our FCF reached €488 m, despite the higher cyclical working capital build from the increased commodity price environment. This allowed us to reinforce our financial position, with our Net Debt/Ebitda ratio now standing at 0.7x."

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