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“During the quarter Galp posted a solid set of results based on a strong operational performance, as we continue to capture the strong, but volatile macro environment. Our Ebitda was close to €800 m and our Cash Flow from Operations over €1 bn. This allowed us to continue to deliver on our key projects and making progress in our decarbonization journey. We continue to execute our distribution policy and further reduce our Net Debt/ Ebitda ratio, now at 0.6x even after accounting for the Titan acquisition and its associated debt.
I would like to take this moment to express my thanks to the people of Galp for their unwavering support over the last two years. Given the exceptional quality of the Galp team and assets, I am confident that the company will continue to transform, decarbonize and profitably grow. During my time leading Galp, which will continue to the end of the year, I have seen Galp develop to become a more open, dynamic and profitable Company, adapting its portfolio to the cleaner energies of the future. I wish Galp and its people all the best for the future, I am sure it will be a bright one!”
Andy Brown, CEO
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