Corrections & Amplifications
This headline was corrected at 0559 GMT. The original said the sale figure was for the second quarter.
By David Sachs
Galp on Monday reported lower net profit and sales for the first half, but backed its guidance for the year.
The Portuguese energy company said net profit in the first half fell to 603 million euros ($664.4 million) from EUR713 million in the first half of 2022. Galp reported sales of EUR10.02 billion compared with EUR12.70 billion a year ago.
Galp’s second-quarter earnings before interest, taxes, depreciation and amortization on an IFRS basis fell to EUR938 million from EUR1.55 billion in the second quarter of last year. Earnings before interest and taxes on an IFRS basis fell to EUR665 million compared with EUR1.21 billion.
Galp confirmed its full-year Ebitda guidance, which it said is supported by improved business performance despite commodity prices that have been lower than expected.
Write to David Sachs at [email protected]
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