REPSOL YPF INCREASES NET RESULTS BY 24.1% IN FIRST-HALF 2008
Unaudited figures (IFRS)
2Q 2007 |
1Q 2008 |
2Q 2008 |
% Variation |
SECOND QUARTER 2008 RESULTS |
Jan-Jun 2007 |
Jan-Jun 2008 |
% Variation 08/07 |
| REPORTED EARNINGS (Million euro) | |||||||
1,44 |
1,606 |
1,896 |
31.7 |
OPERATING INCOME |
2,847 |
3,502 |
23.0 |
818 |
1,212 |
905 |
10.6 |
NET INCOME |
1,706 |
2,117 |
24.1 |
| PROFORMA INDICATORS (Million euro) | |||||||
1,416 |
1,645 |
1,804 |
27.4 |
ADJUSTED OPERATING INCOME |
2,825 |
3,449 |
22.1 |
799 |
976 |
907 |
13.5 |
ADJUSTED NET INCOME |
1,637 |
1,883 |
15.0 |
| EARNINGS PER SHARE | |||||||
0.67 |
0.99 |
0.74 |
10.6 |
Euros per share |
1.40 |
1.73 |
24.1 |
0.91 |
1.57 |
1.17 |
28.6 |
Dollars per share |
1.89 |
2.73 |
44.4 |
SECOND QUARTER 2008 HIGHLIGHTS
• Adjusted Income from operations in second quarter was 27.4% higher year-on-year driven mainly by improvement in Upstream business and higher margings in Argentina.
• The quarter was marked by high oil benchmark prices and wider refining margins which offset narrower margins in the chemical and marketing in the downstream business, and the weakness of the dollar against the euro, the impact of which was minimized thanks to the options strategy implemented by the company at the beginning of the year.
• The quarter was marked by high oil benchmark prices and wider refining margins which offset narrower margins in the chemical and marketing in the downstream business, and the weakness of the dollar against the euro, the impact of which was minimized thanks to the options strategy implemented by the company at the beginning of the year.
