“During the second quarter, Galp’s strong performance across all business segments supported a robust set of results. Our FCF reached €488 m, despite the higher cyclical working capital build from the increased commodity price environment. This allowed us to reinforce our financial position, with our Net Debt/Ebitda ratio now standing at 0.7x.
We made good progressin the execution of key projectsthat underpin our portfolio reshaping. The macroeconomic environment remains extremely volatile, but we are well positioned, both in our established businesses and on the low carbon front, to deliver on ourinvestment proposition.”
Andy Brown, CEO