Repsol S.A - ADR

Solid Performance in 2025: Repsol delivered a robust performance in 2025, with an adjusted net income of EUR 2.6 billion, an 8% increase in cash flow from operations to EUR 5.4 billion and a dividend increase of 8.3% to EUR 0.975 per share. However, this represents a 15% decrease from 2024 due to lower oil prices impacting revenues.

Strategic Growth and Portfolio Management: The company is focusing on optimizing its portfolio and enhancing shareholder value through disciplined capital allocation. Highlights include increased production in Libya and the U.K., and a strategic partnership in the North Sea. The Upstream division achieved average production of 548,000 barrels equivalent per day and plans to ramp up to 560,000-570,000 barrels per day in 2026.

Dividends and Buybacks: Total shareholder distributions reached EUR 1.8 billion, comprising EUR 1.1 billion in cash dividends and EUR 700 million in share buybacks. For 2026, Repsol expects to continue its positive dividend trajectory with a growth of around 8% to EUR 1.051 per share, coupled with an approved buyback program of up to EUR 350 million.