Repsol's Q3 2025 performance reflects strong operational recovery and robust financial results, with adjusted income of €820 million, driven by growth across all business segments and improved refining margins.
- Adjusted income of €820 million is 17% higher sequentially and 47% year-over-year.
- Cash flow from operations reached €1.5 billion, with a total of €4.3 billion for the first nine months of 2025, marking a 15% increase from the previous year.
- Upstream production averaged 551,000 barrels of oil equivalent per day, benefiting from strong contributions from Libya and the U.K. following the NEO Energy joint venture.
- Industrial division adjusted income surged 218% quarter-over-quarter, driven by a favorable refining market and the return of operational activity post-disruptions.
- Net debt increased to €6.9 billion primarily due to the integration of the NEO Energy joint venture, but remains aligned with Repsol's commitment to maintain credit ratings.
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