Galp Energia, Sgps, S.A. Reports Earnings Results for the First Quarter Ended March 31, 2021
April 26, 2021 at 12:36 am EDT
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Galp Energia, SGPS, S.A. Announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced total revenue was EUR 3,429 million compared to EUR 3,866 million a year ago. Net income was EUR 161 million compared to net loss of EUR 257 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 (45.9%): 19 TWh of natural gas sold in 2022;
- refining and distribution (37.6%): 6.5 million tons of oil products sold. At the end of 2022, the group operated 1,475 service stations in Portugal, Spain and Africa;
- exploration and production of crude oil (15.1%). At the end of 2022, the group's portfolio consisted 28 blocks in Brazil, 11 blocks in Angola, 3 blocks in Sao Tome and Principe, 2 blocks in Namibia, 2 blocks in Mozambique, and 1 block in East Timor;
- other (1.4%).
Net sales are distributed geographically as follows: Europe (82.4%), Latin America (14.8%) and Africa (2.8%).
GALP ENERGIA, SGPS, S.A. 
