A significant fall in gains
During 2024, Repsol has a profit of € 1,756 million, a significant decrease of 45% compared to the previous period. This reduction was reported by the company to the National Securities Market Commission (CNMV), which has highlighted the influence of a complicated geopolitical landscape, including the uncertainty on the recovery of the Chinese economy.
Factors that have contributed to the decrease in profits
Repsol has identified several factors that have adversely impacted its results, such as the fall of oil, gas and electricity prices, as well as reduced margins in the refinement and chemistry sectors. In addition, a charge of 450 million euros related to the energy companies, finally rejected by Congress, has influenced its accounts.
Commitment to shareholders and strategic investments
Despite the disadvantaged results, Repsol has managed to increase the remuneration to its shareholders and maintain a level of investment consistent with their strategic vision. The adjusted result was 3.327 million euros, 34% less than in the previous year.
Recovery in the sector of road fuels
In the last months of 2024, an increase in sales of fuel for land transport has been observed, driven by antifrau regulatory measures. Specifically, the sales of these products experienced a 6% increase during the fourth quarter, compared to the same period in 2023.
Financial health and future plans
At the end of the last quarter, Repsol managed to reduce his debt by 524 million euros compared to September, with a total liquidity of 9,453 million euros. In addition, by 2023, the company presented an update of its strategic plan until 2027, focusing on a sustainable and profitable energy transition.
Investment in sustainability: an innovative plant
Repsol has decided to make a firm commitment to sustainability, approved at the end of January a historical investment of 800 million euros to build in Tarragona the first European floor dedicated to transforming urban waste into renewable methanol and circular products. It is expected that during the construction phase 2,800 jobs will be generated and, once operational, the plant will occupy 340 people.
Environmental impact and new plant capabilities
With a capacity to process up to 400,000 tonnes of urban solid waste a year, the new installation will have the capacity to produce 240,000 tonnes of renewable fuels and circular products. The launch of this plant is scheduled for 2029, marking a significant step towards a more sustainable energy model.
