Galp Energia, SGPS, S.A. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 12, 2024 at 03:19 am EST
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Galp Energia, SGPS, S.A. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was EUR 5,031 million compared to EUR 6,107 million a year ago. Revenue was EUR 5,233 million compared to EUR 6,258 million a year ago. Net income was EUR 336 million compared to EUR 455 million a year ago.
For the full year, sales was EUR 20,364 million compared to EUR 26,485 million a year ago. Revenue was EUR 21,115 million compared to EUR 27,160 million a year ago. Net income was EUR 1,242 million compared to EUR 1,475 million a year ago.
Galp Energia, SGPS, S.A. is a leading European oil and gas group. The group also produces electrical power. Net sales break down by activity as follows:
- distribution of oil, natural gas and electricity (45.2%): 13.8 TWh of natural gas sold in 2023;
- refining and distribution (36.5%): 7.1 million tons of oil products sold. At the end of 2023, the group operated 1,463 service stations in Portugal, Spain and Africa;
- exploration and production of crude oil (16.3%). At the end of 2023, the group's portfolio consisted 13 blocks in Brazil, 3 blocks in Sao Tome and Principe, 2 blocks in Mozambique and 1 block in Namibia;
- other (2%).
Net sales are distributed geographically as follows: Europe (84%), Latin America (12.4%) and Africa (3.6%).
GALP ENERGIA, SGPS, S.A. 
