REPYF - Repsol: The Highest Net Income In 8 Years
On February 28, Spanish integrated oil and gas company Repsol (REPYY, REPYF) presented its FY 2018 results. The constituent of the IBEX 35, the Spanish stock market benchmark, reported the highest IFRS net income in 8 years, €2,341 million. This respectable result was achieved mainly because of stellar operating efficiency, lower costs, and perfectly balanced portfolio. Previous profit record attained in 2011 was backed by Brent of $111 per barrel, the level currently looking unrealistic and mythical. At the same time, while the average commodity price was indeed favorable in 2018 compared