Repsol will review its strategic plan in March by cutting profits by 37% due to lower crude oil prices

Repsol reports to the market to confirm a slowdown in net profit, impacted by a scenario marked by volatility and lower crude oil prices. As presented this Thursday before the National Securities Market Commission (CNMV), the company has reached a net result of 1,177 million euros in the first nine months of the year, which represents a drop of 34.3% compared to the same period of the previous year. In this scenario, the Spanish multinational emphasizes in its report that it will present a updating its projections until 2028 in March 2026after reaching the halfway point of its 2024-2027 strategic plan.

The brake is less when the balance sheet is limited to the adjusted net result, which specifically measures the progress of the business. Here the group chaired by Antonio Brufau reached 2,173 million euros as of September, 19% lower than that registered a year ago. However, the third quarter seems to have marked a turning point in the energy business, which saw how all its business segments, mainly Refining, Customer and Low Generation, have improved their results. In fact, The quarterly net result doubled that of 2024 after reaching 574 million.

In the breakdown, the divisions of exploration and production (‘upstream’) grew by 5% during the first nine months, with an adjusted result of 1,214 million, due to higher gas prices and lower operating costs. The business performance was opposite. industrialwhose adjusted result was diluted by 54.7%, to 545 million, despite recovering in the third quarter with a growth of 70.3%, which represents the recovery of activity after the blackout on April 28. For its part, the customer area continued to rise with an increase of 21.3%, up to 599 million.

Regarding its dividend policy, the company plans to distribute this year between 30%-35% of the cash flow from operations to remunerate the shareholder. In July, Repsol distributed a gross cash dividend of 0.50 euros per share, which, added to the 0.475 gross euros paid in January, brings the total cash dividend for 2025 to 0.975 gross euros per share, 8.3% more than in the previous year. At the meeting held in May, the distribution of an additional dividend of 0.50 euros gross per share was also approved, which will be paid in January 2026. This cash dividend is completed with share repurchases for a total amount of 700 million euros in 2025, with the aim of reducing capital. A first capital reduction has already been carried out and the second will take place before the end of the year. In 2026, after the capital reductions carried out in 2025, The company plans to distribute a gross dividend that will exceed one euro per share.