Galp profits reach over 1 billion euros
- Portugal Business News - Valerie Charoux
- Feb 13, 2024
- 1 min read
Portugal investment news – Portuguese energy multinational registers profits of over 1 billion euros in 2023, that is a 14% growth.
Galp Energia, that is listed on Euronext Lisbon, has registered a high growth in 2023, despite an EBITDA of 3.56 billion euros that is 7.6% less than in 2022.
In 2023, Galp invested over 1 billion euros in the fields of business transformation and renewable energy. Investments in Portugal represented 1/3 of the total expenditure, mostly allocated to the Final Investment Decision of two world-class projects in Sines, namely 100 MW electrolyzers for green hydrogen and a biofuels unit (HVO/SAF), as well as investments for electric mobility and for the modernization of the retail network.
Galp forecasts its capital expenditure to remain at around 1 billion euros in 2024 as well as an EBITDA of around 3.1 billion euros.
