Galp Energia's Refining Unit to Drive Earnings Growth
Dow Jones
Sep 21
0519 GMT - Galp Energia's refining unit will post a much higher quarter-on-quarter profit as it benefits from elevated product cracks, Berenberg analysts write ahead of the Portuguese energy company's third-quarter results. Product cracks measure the profit margin from turning crude into petroleum products. The analysts hike their Ebitda expectations for the unit by 170% to 405 million euros and see it as a key cash flow driver. They increase their 2026 cash flow from operations estimate by 44%. Higher cash flow generation should also allow an increase in buybacks in 2027, they say.
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