Repsol, S.A. (OTCQX:REPYY) Q2 2025 Earnings Call July 24, 2025 5:30 AM ET Company Participants Josu Jon Imaz San Miguel - CEO & Executive Director Pablo Bannatyne - Head of Investor Relations Conference Call Participants Alastair Roderick Syme - Citigroup Inc., Research Division Alejandro Vigil - Banco Santander, S.A.
Spain's Repsol said on Thursday its second-quarter adjusted profit beat expectations despite a 175 million euro ($206 million) hit from a massive blackout in April and other smaller power-supply issues.
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REPYY sells its stake in Indonesia's Corridor Block to Medco for $425 million, sharpening the focus on high-return regions and realigning the global portfolio.
Repsol has delivered a 24% total return in six months, outperforming the S&P 500 and energy sector by an impressive margin thanks to its cheap valuation and gas focus. Despite oil price declines, the Company's 66% natural gas production mix and the bullish outlook for gas prices support continued resilience and earnings strength. The 7.6% dividend yield remains attractive, with a safe payout ratio, strong balance sheet, and consistent share repurchases signaling management confidence.
Repsol remains a 'Buy' for me, driven by undervaluation, strong fundamentals, and a shareholder-friendly dividend and buyback policy. The company's transition to low-carbon and renewables is costly short-term but positions Repsol for long-term value and diversification. Despite flat or declining upstream production, high-margin segments, asset rotation, and operational efficiency support future cash flow and returns.
Repsol, S.A. (OTCQX:REPYY) Q1 2025 Results Conference Call April 30, 2025 4:30 AM ET Company Participants Pablo Bannatyne - Head of Investor Relations Josu Jon Imaz - Chief Executive Officer Conference Call Participants Alessandro Pozzi - Mediobanca Alastair Syme - Citigroup Michele Della Vigna - Goldman Sachs Alejandro Vigil - Banco Santander Biraj Borkhataria - RBC Pablo Cuadrado - Kepler Cheuvreux Irene Himona - Bernstein Henri Patricot - UBS Sasikanth Chilukuru - Morgan Stanley Paul Redman - BNP Paribas Pablo Bannatyne Good morning to all.
Peyto's strategic acquisition and effective hedging have positioned the company for strong performance. The Repsol acquisition has outperformed legacy assets. The 2024 drilling program is forecasted to yield a 57% IRR, with Repsol lands achieving a 64% IRR and legacy lands a 50% IRR.
REPYY, Maurel et Prom and Eni report the revocation of oil licenses in Venezuela, impacting the global markets.
U.S. authorities have notified Spanish oil company Repsol that its license to export oil from Venezuela is to be revoked, a company spokesperson said on Monday, while Spain's foreign minister promised to defend Repsol's interests.
REPYY and NEO Energy merge to form NEO NEXT, a top North Sea producer. The deal boosts cash flow, resilience and growth opportunities.
The joint venture could deliver synergies exceeding $1 billion.