Portugal's Galp Q4 profit more than doubles, beats expectations

Galp Energia SGPS SA

02/03/2026 08:50

LISBON, March 2 (Reuters) - Portugal's Galp Energia GALP.LS said on Monday its adjusted fourth-quarter net profit more than doubled thank to proceeds from asset sales, beating expectations despite weaker oil prices and a prolonged outage at its refinery.

The oil and gas company reported adjusted net profit of 182 million euros ($213.98 million) in the quarter, up from 71 million euros a year earlier and surpassing the 141 million euro consensus compiled by the company.

Its adjusted quarterly earnings before interest, taxes, depreciation and amortisation (EBITDA) fell 10% to 619 million euros, slightly above analysts' average estimate of 604 million euros.

Galp said full-year adjusted net profit rose 20% to a record 1.15 billion euros.

     It will propose to shareholders a 4% increase in the 2025 dividend to 0.64 euros per share and a 250 million euro share buyback programme starting in March, Galp said.

($1 = 0.8506 euros)

 (Reporting by Sergio Goncalves; editing by Charlie Devereux)

 ((sergio.goncalves@thomsonreuters.com; +351213509204; Reuters Messaging: sergio.goncalves.reuters.com@reuters.net))