Frequently asked questions

Galp was created as a publicly-owned limited company on 22 April 1999, under the name of Galp - Petróleos e Gás de Portugal, SGPS, S.A., and, on 13 September 2000, changed its name to the current Galp Energia, SGPS, S.A.

At the time of its incorporation, Galp grouped the direct state holdings in the companies Petrogal, the Portuguese state holding company for the oil business, and Gás de Portugal and Transgás, responsible for the natural gas business in Portugal.

For up-to-date information on Galp’s main business segments, please refer to the About Us section.

For further details on financial and operational information, please refer to the history of reports and presentation of results. Alternatively, you can refer to the Share listing and key data section.

Galp Group’s consolidated financial statements are prepared in accordance with the International Financial Reporting Standards, as adopted by the European Union.

The said standards include the International Financial Reporting Standards (IFRS), issued by the International Accounting Standards Board (IASB), and the International Accounting Standards (IAS) issued by the International Accounting Standards Committee (IASC) and its interpretations - SIC and IFRIC, issued by the International Financial Reporting Interpretation Committee (IFRIC) and the Standing Interpretation Committee (SIC) that have been adopted in the European Union.

Galp’s financial statements are prepared in accordance with IFRS, and the cost of goods sold and raw materials consumed has been valued at weighted-average cost (WAC) since 01 November 2008.
When goods and commodity prices fluctuate, the use of this valuation method may cause volatility in results through gains or losses in inventories of goods and raw materials, which do not Galp’s operating performance. This effect is called the stock effect.

Another factor that may affect Galp’s results, without being an indicator of its true performance, is the set of non-recurring items, namely gains or losses on the disposal of assets.

In order to evaluate its operating performance, Galp reports its operational and net results on a replacement cost adjusted (RCA) basis, excluding non-recurring items and the inventory effect, because its cost has been calculated with the Replacement Cost (RC) valuation method.

Since its listing on the stock exchange, Galp has reported its consolidated results on a quarterly basis. To view the quarterly financial and operational information, please refer to the Reports and Results section.

If you would like to know the dates for the next quarterly results report, check our calendar.

Galp's fiscal year corresponds to the calendar year.

The Galp shares have been admitted to trading on Euronext Lisbon since 23 October 2006.

Out of the 829,250,635 shares that make up Galp’s share capital, 771,171,121 are admitted to trading on Euronext Lisbon. The remaining shares are indirectly held by the Portuguese State through Parpública and are not listed for trading, but only registered with Eurolist by Euronext Lisbon.

The symbol of the shares admitted to trading is GALP with ISIN PTGA0AM0009; SEDOL B1FW751 and WKN AOLB24.

For detailed information about the programmes on acquisition of own shares, view the Acquisition and disposal of own shares section.

Galp shares are listed on Euronext Lisbon and are in the form of common, nominative and book-entry shares. Shares can be purchased through any brokerage service provider. In order to purchase shares, you need to hold a securities custody account, where the shares will be deposited in. It is not possible to purchase shares directly from Galp. To access more information about Galp shares, view the Galp Share section.

To view an updated list of Galp’s shareholders, please refer to the Shareholding structure section.

The date of the next General Shareholding Meeting is announced when the Company's financial calendar is published, near year end. Click here to know more about Galp's General Shareholders Meeting

Only shareholders with voting rights can participate in the General Shareholders Meeting.

For the purpose of participating in the General Shareholders Meetings, only shareholders with at least one share registered in their names, by no later than 00:00 (Portugal time) of the fifth trading day prior the meeting, are allowed to participate in the concerned meeting.

Shareholders without voting rights and bondholders are not allowed to participate in General Shareholders Meetings. Shareholders with voting rights have the right to one vote for each share they own.

In accordance with the law and Galp’s articles of association, the conditions of participation in the General Shareholders Meeting are exclusively set in reference to the shareholders holding shares that confer voting rights under the said articles of association.

These are the following types of participation:

• In person.
• By post.
• Through representation.

Shareholders with voting rights have the right to one vote for each share they own.

Shareholders (either a legal person or a natural person) may be represented at shareholders meetings by any person with full legal capacity. The designation must be made by any written means, accompanied by a national or foreign identification document;

Shareholders wishing to participate or to be represented at the General Shareholders Meeting must state it in writing to the Chairman of the Board of the General Shareholders Meeting and to the financial intermediary the individual registration account is open with, by the end of the sixth trading day prior to the date of the General Shareholders Meeting and in compliance with the law.

Shareholders with voting rights may exercise it by postal mail on every item on the agenda. The ballot paper must display a signature identical to that of their identification document and must be sent to the Chairman of the Board of the General Shareholders Meeting, in accordance with the deadlines that have been previously announced, and sent by registered mail with acknowledgement of receipt to Galp’s headquarters.

The ballot paper must be accompanied by a legible photocopy of the shareholder’s identity card or, in the case of a shareholder that is a legal person, it must be signed by whoever legally represents it, with the signature notarised in such a capacity.

The sending of that bulletin does not exempt the shareholder from sending, in writing, his/her intention to participate in the General Shareholders Meeting, within the due deadline published for that effect, and until the end of the day of the fifth trading day prior to the date of the General Shareholders Meeting, a statement issued by the broker the service of registering the shares has been assigned to.

• Only the explanations of vote that expressly and unequivocally state the below shall be deemed valid: Stating the agenda item or items it is about.
• The specific proposal it is intended for.
• Expressing the vote for each proposal in an accurate and unconditional manner.
• The votes cast by post shall be counted as negative votes in what concerns the proposals for resolutions that were submitted after the date on which those same votes were cast.

The counting of votes cast by post shall be performed by the Board of the General Shareholders Meeting, by adding them to the votes cast in the Meeting.

Yes, you may, provided you do so within the period determined for that purpose.

Yes, you can. However, your presence at the General Shareholders Meeting, or the attendance of a representative on your behalf, and the exercise of your voting rights, implies the revocation of the vote so issued.

Pursuant to article 23-A of the Portuguese Securities Code, if a shareholder or shareholders hold shares corresponding to at least 2% of the share capital, they may, in cases that are specially set in the Portuguese Commercial Companies Code, request that new items are added to the agenda of the General Shareholders Meeting.

Also under article 23-A of the Portuguese Securities Code, if a shareholder or shareholders hold shares corresponding to at least 2% of the share capital, they may submit a proposal or proposals, within five days of the publishing of the notice for the General Shareholders Meeting, along with the information that must accompany the proposal for a resolution. Such proposals for a resolution and information shall be disclosed as soon as possible to the shareholders, in the same manner used for the disclosure of the said notice until 10 days before the date of the General Shareholders Meeting.

It is calculated by the sum of the shares held by the shareholders who have voted by correspondence and the shares held by the shareholders that are present and represented at the General Shareholders Meeting.

Once the General Shareholders Meeting is closed, the shareholders who participated therein or who voted by correspondence or electronically, may request a copy of the minutes of that meeting from the Chairman of the Board of the General Shareholders Meeting, which shall be provided to them as soon as it is available. After that moment, all shareholders seeking other clarifications and information about Galp should request it from the Investor Relations Team, through the advertised means, namely via the ag@galp.com e-mail address.

For detailed information on the dividend distribution policy, please refer to the Dividends section.

Only shares held up to the third business day immediately prior to the date of the dividend payment (ex-dividend date) are entitled to receive the dividend.

For detailed information on the dividend distribution policy, please refer to the Dividends section.