Galp’s net profit rises 21% to 508 ME in the 1st semester

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Galp obtained net results of 508 million euros in the first six months of the year, 21% more than in the same period of 2022, it was announced today.

In a statement sent to the Portuguese Securities Market Commission (CMVM), the oil company said that EBITDA (earnings before taxes, interest, depreciation and amortization) reached €1,787 million in the first half of the year, 16% less than in the same period of 2022, the oil company said.

Galp explains that the drop in EBITDA was due to lower market conditions during the half year, as well as the exclusion of the upstream business in Angola.

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