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Galp Q4 profit rises 10 pct to 92 mln euros, beats forecast
February 10, 2014 / 7:26 AM / 4 years ago

Galp Q4 profit rises 10 pct to 92 mln euros, beats forecast

LISBON, Feb 10 (Reuters) - Portugal’s Galp Energia posted on Monday a larger-than-expected quarterly net profit of 92 million euros, 10 percent higher than a year ago, after its oil output and refining volumes rose.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 16 percent to 271 million euros, also exceeding expectations. The results are adjusted to reflect changes in the company’s stocks of crude.

Analysts polled by Reuters had forecast, on average, an adjusted net profit of 62 million euros and EBITDA of 265 million euros. (Reporting By Andrei Khalip)

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