WASHINGTON (dpa-AFX) - Portuguese energy company Galp Energia, SGPS, S.A. (GLPEF) reported Monday higher profit in its fourth quarter, despite weak turnover. Looking ahead for fiscal 2026, the company projects lower RCA Ebitda, a key earnings metric.
Further, the company said its Board of Directors will propose a 4 percent increase in dividend per share and launch a 250 million euros share buyback commencing in March.
In Lisbon, Galp Energia shares were gaining around 7 percent, trading at 19.56 euros.
In the fourth quarter, IFRS net income attributable to shareholders surged to 179 million euros from last year's 34 million euros.
RCA net income was 182 million euros, compared to 71 million euros a year ago.
RCA Ebit climbed 37 percent year-over-year to 475 million euros, while RCA Ebitda fell 10 percent to 619 million euros, with 43 percent drop in Industrial & Midstream and 2 percent decline in Upstream.
Turnover in the quarter declined 7 percent to 4.58 billion euros from last year's 4.91 billion euros.
Working interest production grew 2 percent to 113 thousands of barrels of oil equivalent per day or kboepd from 110 kboepd last year.
Adjusted operating cash flow or OCF was 447 million euros, up 14 percent year-over-year.
Galp's Board of Directors will propose to the Annual Shareholder Meeting a 4 percent increase in the dividend per share to 0.64 euro relative to the 2025 fiscal year.
Looking ahead for fiscal 2026, the company projects RCA Ebitda of over 2.6 billion euros, and OCF of over 2.0 billion euros.
In fiscal 2025, RCA Ebitda was 3.04 billion euros, and OCF was 2.18 billion euros.
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