Galp Q1 Net Profit Hits €272 Million, +41% Year-on-Year — Refining Margin Almost Triples to $14.8 a Barrel as Upstream EBITDA Climbs 78% on Brazilian Production
Galp opened the PSI earnings season Monday with €272M of Q1 net profit (+41%) and €943M of EBITDA on a $14.8/bbl refining margin and 129,000 boe/d of production. The print landed marginally below the €276M analyst consensus; the stock rose 1.9% to €19.57.