Repsol Records Net Profit Rise
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Monday, 03 March 2008 |
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 Repsol, has reported that net profits for 2007 rose by 2.0 percent to
€3.188 bn. The results were in line with analysts' expectations.
It
said earnings before interest, taxes, depreciation and amortisation
(EBITDA) dropped 5.3 percent to €8.573 billion. A statement by the
company did not indicate sales figures.
The higher profit "was
attained in spite of the depreciation of the dollar against the euro of
8.4 percent and the drop of international petrochemical margins," it
said.
It said this was partially compensated by the increase in
crude oil prices of 9.3 percent and greater international refining
margins.
In December, Repsol
announced it was selling 14.9 percent of its Argentine affiliate YPF to
Argentine businessman Enrique Eskenazi for 2.2 billion dollars.
PetrolWorld 280208
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