Galp posted profits of EUR 881 M

Galp posted profits of EUR 881 M - Portugal Business News

Galp posted profits of EUR 881 million in 2022, that is nearly double the amount of EUR 457 million for 2021, according to the Portuguese Securities Market Commission (CMVM).

Galp posted earnings before interest, taxes, depreciation and amortization (EBITDA) amounting to EUR 3,849 for 2022, that is an increase of 66% compared to the previous year.

Galp’s capital expenditure reached EUR 1,266 million for projects in Brazil and for the extension of the portfolio of renewable energy, namely the acquisition of Titan Solar.

The company’s Operating Cash Flow was EUR 2,788 in 2022, that is 50% more than in 2021.

In the renewable energy sector, Galp posted an adjusted EBITDA of EUR 17 million, due to the capacity reaching 1.4 GW.

It is to be noted that Galp has a provision for windfall taxes of EUR 53 million.

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