Edition:
United Kingdom

Galp Q4 Net Profit Down 42 Pct At 109 Mln Euros YoY


Monday, 11 Feb 2019 

Feb 11 (Reuters) - Galp Energia SGPS SA ::Q4 ADJUSTED. EBITDA 493 MILLION EUROS VERSUS 476 MILLION EUROS YEAR AGO.Q4 REFINING MARGIN $4.3/BARREL VERSUS $4.9/BARREL YEAR AGO.Q4 ADJUSTED. NET PROFIT 109 MILLION EUROS VERSUS 189 MILLION EUROS YEAR AGO.SAYS NET DEBT TO EBITDA EXPECTED BELOW 1.0X FROM 2020.SEES 2019 EBITDA AT 2.1 BILLION EUROS TO 2.2 BILLION EUROS AND ABOVE 3 BILLION EUROS FROM 2020 ONWARDS.SEES REFINING MARGIN FOR 2019 AT $5.0-$6.0/BARREL, FOR 2020 $6.0-$7.0/BARREL.SEES ORGANIC FCF OF ABOUT 1 BILLION EUROS FROM 2020.SEES ORGANIC CFFO 2018-20 CAGR AT 10% - 15%.