Repsol H1 Profit Rises; Announces Reorganization Of Management Team

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(RTTNews.com) - Repsol (REPYY.PK) reported first-half net income of 1.546 billion euros, representing an increase of 46% compared with the same period of the previous year. Adjusted net income increased by 12% to 1.132 billion euros, while EBITDA rose to 3.811 billion euros after a 23% increase.

For the first-half, adjusted net income of the Upstream unit increased by 91% to 647 million euros. The Downstream unit recorded an adjusted net income of 762 million euros, compared to the 929 million euros, prior year.

The company increased its hydrocarbon production by 6% during the first six months of the year, reaching an average of 724 thousand barrels of oil equivalent per day.

The Board of Repsol, under the chairmanship of Antonio Brufau, has resolved upon the proposal of the CEO, Josu Jon Imaz, to restructure the management team. The area of Technology Development, Digitization, Resources and Sustainability has been reinforced and will be taken over, with the level of Executive Managing Director, by Luis Cabra Dueñas, former E&P Executive Managing Director. The E&P Executive Managing Director will be taken over by the former Executive Director of Europe, Africa and Brazil, Tomás García Blanco. The former Corporate Director of Strategy, Control and Resources, Antonio Lorenzo Sierra, will replace Chief Financial Officer Miguel Martínez San Martin.

Read the original article on RTTNews (http://www.rttnews.com/2918327/repsol-h1-profit-rises-announces-reorganization-of-management-team.aspx)

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This article appears in: World Markets , Stocks , Technology , Oil
Referenced Symbols: REPYY

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