repsol has doubled use with a net result of 1,392 million euros in the first quarter of 2022, compared to 648 million euros in the same period of the previous year, thanks to the pandemic. price increase Oil After the invasion of Ukraine, which marked the first three months of this year.
Like this Brent Crude Oil It was priced at an average of $102.2 per barrel, compared to $61 in the same period in 2021. Henry Hub gas was paid an average of $5 per MBtu, nearly double what it traded in 2021. From $2.7. This rise in prices, reaching maximums not seen since 2008, negatively impacted the company’s results. adjusted net incomeIn particular, measuring work performance, achieved 1.056 million euroscompared to 471 million in the comparable period of the previous year.
region Exploration and ProductionOperating all its operations outside of Spain, it earned €731 million, contributing 69% of adjusted net income, compared to €327 million in the previous year’s equivalent period. Although the average first quarter production (558,500 barrels of oil equivalent) was lower than in the same period in 2021, the rise in prices in Spain boosted this business after sales and production halts in Malaysia, Russia, Ecuador, Vietnam, Norway and Algeria.
Domain Industrial (refined) 236 million euros was reached between January and March, compared to 73 million euros in the same period of 2021. larger volumes compared to the equivalent quarter of the previous year, aggravated by the pandemic. and area Commercial and Renewable It achieved a result of 117 million Euros, just over 101 million Euros in the same period of 2021. mobility restrictions The effects of the Filomena storm resulting from the health crisis were decisive. The company became the first to offer discounts at service stations due to the increase in prices caused by the occupation of Ukraine. This service stations It represents slightly less than 5% of the total adjusted net income the company has in the country.
This operating cash flow It was 1,091 million euros, above the figure recorded in the first quarter of 2021. net debt It closed the period with 5,900 million euros, just over 5,762 million at the end of December. The main reason for this was the increase in money in circulation caused by the sharp increase in raw material prices. This liquidity It amounted to 9,823 million euros, which would cover short-term debt maturities 3.5 times, more than 2.95 times at the end of December.
Strong cash generation, since last year improvement of pay To shareholders who received a gross dividend of EUR 0.30 per share on 11 January. The Board of Directors offered a raise to the Ordinary General Assembly. dividend 5% in cash up to €0.63 per share with a reduction in share capital through the buyback of 75 million treasury shares representing approximately 4.91% of Repsol’s equity. In this environment, and as determined by the Strategic Plan to add value to its shareholders, the company has conducted a share repurchase program that includes the purchase of 11.6 million shares.