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MarketScreener Homepage  >  Equities  >  Bolsa de Madrid  >  Repsol    REP   ES0173516115

REPSOL

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Repsol : Recognizes EUR837 Million Provision Related to Talisman Arbitration

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02/14/2020 | 01:24pm EST

By Kim Richters

Repsol SA said Friday that it has recognized a provision of 837 million euros ($908.97 million) in its financial statements for last year, relating to long-running arbitration proceedings against its Talisman subsidiaries.

The Spanish company said the provision relates to arbitration proceedings against its subsidiaries Talisman Energy and Talisman Colombia Holdco that were started by Addax Petroleum UK Ltd. and Sinopec International Petroleum Exploration and Production Corp. in 2015.

Repsol said that although the amount of possible compensation, if any, isn't known, the EUR837 million provision was taken for the entire litigation.

Repsol said that Addax and Sinopec are asking for a total compensation payout of around $5.5 billion.

"The company is analyzing possible action against this partial award and expects to challenge it before the Singaporean courts," it said.

 

Write to Kim Richters at kim.richters@wsj.com

 

Corrections & Amplifications

This article was corrected at 1318 GMT to reflect that Repsol said that although the amount of possible compensation, if any, isn't known, the EUR837 million provision was taken for the entire litigation. The original version of this article misstated that the provision amount related to a partial award in the third paragraph.

Stocks mentioned in the article
ChangeLast1st jan.
INTERNATIONAL PETROLEUM CORPORATION -0.40% 4.93 Delayed Quote.-9.44%
REPSOL 0.04% 12.35 End-of-day quote.-11.38%
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Financials (EUR)
Sales 2019 46 579 M
EBIT 2019 3 802 M
Net income 2019 -3 182 M
Debt 2019 9 486 M
Yield 2019 7,83%
P/E ratio 2019 -6,36x
P/E ratio 2020 6,88x
EV / Sales2019 0,60x
EV / Sales2020 0,55x
Capitalization 18 254 M
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Mean consensus OUTPERFORM
Number of Analysts 27
Average target price 16,72  €
Last Close Price 12,35  €
Spread / Highest target 70,1%
Spread / Average Target 35,4%
Spread / Lowest Target -9,92%
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Josu Jon Imaz San Miguel Chief Executive Officer & Executive Director
Antonio Brufau Niubó Chairman
Antonio Lorenzo Sierra Chief Financial Officer
Hector González Nistal Executive Director-Technical Development, S&E
Luis Suárez de Lezo Mantilla Secretary & Executive Director
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