Financials Galp Energia, SGPS, S.A.

Equities

GALP

PTGAL0AM0009

Integrated Oil & Gas

Market Closed - Euronext Lisbonne Other stock markets 16:55:00 13/02/2026 GMT			Pre-market 06:22:20
17.68 ^EUR	-0.81%		17.70	+0.06%

02-06	TotalEnergies and Petrobras snap up acreage north of Namibia's huge Mopane discovery	RE
02-03	Galp Energia: Galp breaks up to build an Iberian downstream champion

Projected Income Statement: Galp Energia, SGPS, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	11,381	16,117	26,840	20,679	21,311	19,619	19,952	19,846
Change	-	41.61%	66.53%	-22.95%	3.06%	-7.94%	1.7%	-0.53%
EBITDA ¹	1,570	2,322	3,849	3,558	3,297	3,029	3,011	3,236
Change	-	47.9%	65.76%	-7.56%	-7.34%	-8.13%	-0.6%	7.47%
EBIT ¹	427	1,372	2,345	2,469	2,388	2,295	2,139	2,326
Change	-	221.31%	70.92%	5.29%	-3.28%	-3.89%	-6.82%	8.76%
Interest Paid ¹	-186	-138	-154	-62	-97	-74.46	-90.18	-76.27
Earnings before Tax (EBT) ¹	-248	843	3,246	2,586	2,340	2,173	2,083	2,325
Change	-	439.92%	285.05%	-20.33%	-9.51%	-7.12%	-4.15%	11.62%
Net income ¹	-551	4	1,475	1,242	1,040	1,090	974.2	1,009
Change	-	100.73%	36,775%	-15.8%	-16.26%	4.85%	-10.66%	3.6%
Announcement Date	22/02/21	21/02/22	13/02/23	12/02/24	17/02/25	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3
Net sales ¹	2,828	3,338	3,636	4,365	4,779	5,661	7,229	7,761	6,188	5,146	5,014	5,391	5,128	5,075	5,720	5,610	4,906	4,807	5,026	5,098	3,567	3,870	4,315	4,519	4,651	4,849	4,849	4,849
Change	-	18.03%	8.93%	20.05%	9.48%	18.46%	27.7%	7.36%	-20.27%	-16.84%	-2.57%	7.52%	-4.88%	-1.03%	12.71%	-1.92%	-12.55%	-2.02%	4.56%	1.43%	-30.03%	8.5%	11.49%	4.72%	2.92%	4.26%	0%	0%
EBITDA ¹	410	499	571	607	644	869	1,244	784	951	864	916	1,057	720	974	849	820	688	669	840	911	602.7	722.8	765.3	796.7	781.9	813.8	829.2	831.5
Change	-	21.71%	14.43%	6.3%	6.1%	34.94%	43.15%	-36.98%	21.3%	-9.15%	6.02%	15.39%	-31.88%	35.28%	-12.83%	-3.42%	-16.1%	-2.76%	25.56%	8.45%	-33.84%	19.93%	5.88%	4.1%	-1.86%	4.08%	1.89%	0.28%
EBIT ¹	159	284	305	369	415	538	924	408	475	674	643	741	411	776	660	621	347	497	662	740	400.6	515.1	539.8	555.1	561.4	575.7	587.4	588.8
Change	-	78.62%	7.39%	20.98%	12.47%	29.64%	71.75%	-55.84%	16.42%	41.89%	-4.6%	15.24%	-44.53%	88.81%	-14.95%	-5.91%	-44.12%	43.23%	33.2%	11.78%	-45.86%	28.58%	4.8%	2.83%	1.14%	2.54%	2.03%	0.24%
Charge d'intérêts ¹	-19	-55	-4	-28	-50	-31	-346	89	134	-39	-	-58	-14	-	-53	-31	-52	-13	-21	-20	-20.33	-	-	-	-	-	-	-
Earnings before Tax (EBT) ¹	7	433	213	-188	385	282	1,281	699	984	773	640	-	374	786	695	596	263	624	531	454	332	-	-	-	-	-	-	-
Change	-	6,085.71%	-50.81%	-188.26%	304.79%	-26.75%	354.26%	-45.43%	40.77%	-21.44%	-17.21%	-	-	110.16%	-11.58%	-14.24%	-55.87%	137.26%	-14.9%	-14.5%	-26.87%	-	-	-	-	-	-	-
Net income ¹	-35	161	71	-334	106	-14	726	307	455	352	251	303	336	374	362	269	34	362	315	264	119.5	319	285.9	269.1	279.1	251.9	259.5	259.1
Change	-	560%	-55.9%	-570.42%	131.74%	-113.21%	5,285.71%	-57.71%	48.21%	-22.64%	-28.69%	20.72%	10.89%	11.31%	-3.21%	-25.69%	-87.36%	964.71%	-12.98%	-16.19%	-54.74%	167.04%	-10.4%	-5.86%	3.72%	-9.75%	3%	-0.13%
Announcement Date	22/02/21	26/04/21	26/07/21	25/10/21	21/02/22	03/05/22	25/07/22	24/10/22	13/02/23	05/05/23	31/07/23	30/10/23	12/02/24	30/04/24	22/07/24	28/10/24	17/02/25	28/04/25	21/07/25	28/10/25	-	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2022 S1	2023 S1
Net sales	-	-
Change	-	-
EBITDA	-	-
Change	-	-
EBIT	-	-
Change	-	-
Charge d'intérêts	-377	-
Earnings before Tax (EBT) ¹	-	1,413
Change	-	-
Net income ¹	713	603
Change	-	-15.43%
Announcement Date	25/07/22	31/07/23

¹EUR in Million

Estimates

Forecast Balance Sheet: Galp Energia, SGPS, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	2,964	2,357	1,555	1,400	1,207	2,479	2,248	1,942
Change	-	-20.48%	-34.03%	-9.97%	-13.79%	105.39%	-9.32%	-13.61%
Announcement Date	22/02/21	21/02/22	13/02/23	12/02/24	17/02/25	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Galp Energia, SGPS, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	649	525	1,266	859	832	1,072	993.6	934
Change	-	-19.11%	141.14%	-32.15%	-3.14%	28.83%	-7.3%	-6%
Free Cash Flow (FCF) ¹	239	397	1,805	1,517	1,335	1,241	1,491	1,391
Change	-	66.11%	354.66%	-15.96%	-12%	-7.01%	20.1%	-6.69%
Announcement Date	22/02/21	21/02/22	13/02/23	12/02/24	17/02/25	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Galp Energia, SGPS, S.A.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	13.79%	14.41%	14.34%	17.21%	15.47%	15.44%	15.09%	16.3%
EBIT Margin (%)	3.75%	8.51%	8.74%	11.94%	11.21%	11.7%	10.72%	11.72%
EBT Margin (%)	-2.18%	5.23%	12.09%	12.51%	10.98%	11.08%	10.44%	11.72%
Net margin (%)	-4.84%	0.02%	5.5%	6.01%	4.88%	5.56%	4.88%	5.09%
FCF margin (%)	2.1%	2.46%	6.73%	7.34%	6.26%	6.33%	7.47%	7.01%
FCF / Net Income (%)	-43.38%	9,925%	122.37%	122.14%	128.37%	113.85%	153.04%	137.84%
Profitability
ROA	-	3.32%	5.67%	6.14%	6.22%	6.77%	6.11%	6.58%
ROE	-14.54%	14.71%	24.43%	23.38%	22.86%	22.25%	19.33%	18.77%
Financial Health
Leverage (Debt/EBITDA)	1.89x	1.02x	0.4x	0.39x	0.37x	0.82x	0.75x	0.6x
Debt / Free cash flow	12.4x	5.94x	0.86x	0.92x	0.9x	2x	1.51x	1.4x
Capital Intensity
CAPEX / Current Assets (%)	5.7%	3.26%	4.72%	4.15%	3.9%	5.46%	4.98%	4.71%
CAPEX / EBITDA (%)	41.34%	22.61%	32.89%	24.14%	25.24%	35.39%	33%	28.87%
CAPEX / FCF (%)	271.55%	132.24%	70.14%	56.62%	62.32%	86.34%	66.64%	67.14%
Items per share
Cash flow per share ¹	1.064	1.269	3.768	3.301	3.321	2.087	2.898	2.774
Change	-	19.3%	196.97%	-12.41%	0.6%	-37.15%	38.83%	-4.26%
Dividend per Share ¹	0.35	0.5	0.52	0.54	0.62	0.6386	0.6641	0.6906
Change	-	42.86%	4%	3.85%	14.81%	3.01%	3.98%	4%
Book Value Per Share ¹	3.811	3.677	5.106	5.703	6.23	6.561	6.997	7.463
Change	-	-3.51%	38.86%	11.69%	9.24%	5.32%	6.64%	6.67%
EPS ¹	-0.665	0.005	1.81	1.56	1.36	1.459	1.347	1.416
Change	-	100.75%	36,100%	-13.81%	-12.82%	7.29%	-7.7%	5.11%
Nbr of stocks (in thousands)	829,251	829,251	829,251	815,112	695,416	695,416	695,416	695,416
Announcement Date	22/02/21	21/02/22	13/02/23	12/02/24	17/02/25	-	-	-