Companies / Spain
Repsol Falls Behind The Industry
July 2006 | Company Finance AlertSpanish-Argentine oil major RepsolYPF reported Q206 results that, while coming in marginally ahead of expectations, fell short of the industry standard. Net profit reached EUR857mn (US$1.1bn), an 8.5% y-o-y increase, from overall sales of EUR1,690mn (US$2.15bn), a 7.3% increase. These figures compare unfavourably with comparable international oil companies (IOCs), for example with Royal Dutch Shell reporting a 36% rise in profits at about the same time. Nevertheless, the company is still boosting earnings on the back of high international energy prices and improving refinery margins.
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