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    REP   ES0173516115

REPSOL S.A.

(REP)
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Repsol S A : Financial and operating data tables - XLS (160 KB)

07/29/2021 | 05:07am EDT
Index
2Q21 Results
FINANCIAL AND OPERATING DATA TABLES
General information
Net Debt
Metrics by Business Segments
Adjusted Net Income by Business segments
Other Financial information
Operating Indicators
Operating Indicators (I)
Operating Indicators (II)
Repsol's Reporting Consolidated Financial Statements
Balance Sheet
Income Statement
Cashflow Statement
Repsol's IFRS Consolidated Financial Statements
Balance Sheet
Income Statement
Cashflow Statement
Recognized Income and Expense Statement
Statement of Changes in Equity
General Information
KEY METRICS FOR THE PERIOD
(Unaudited figures)
Results (€ Million) Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Upstream 351 327 (141) - 678 (51) -
Industrial 166 73 8 - 239 296 (19.3)
Commercial and Renewables 127 101 42 202.4 228 163 39.9
Corporate and Others (156) (30) (167) 6.6 (186) (219) 15.1
Adjusted Net Income 488 471 (258) - 959 189 -
Inventory effect 168 321 (298) - 489 (1,088) -
Special items (69) (144) (1,441) 95.2 (213) (1,585) 86.6
Net Income 587 648 (1,997) - 1,235 (2,484) -
Earnings per share (€/share) 0.39 0.41 (1.28) - 0.80 (1.59) -
Financial data (€ Million) Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
EBITDA 1,798 1,837 240 - 3,635 589 -
EBITDA CCS 1,565 1,395 641 144.1 2,960 2,096 41.2
Operating Cash Flow 902 1,030 268 236.6 1,932 864 123.6
Investments 560 501 479 16.9 1,061 1,113 (4.7)
Group's Effective Tax Rate (%) (38) (41) 11 (49.0) (39) (48) 9.0
Net Debt (*) 6,386 6,452 8,026 (20.4) 6,386 8,026 (20.4)
International prices Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Brent ($/bbl) 69.0 61.1 29.6 133.1 65.0 40.1 62.1
Henry Hub ($/MBtu) 2.8 2.7 1.7 64.7 2.8 1.8 55.6
Average exchange rate ($/€) 1.21 1.20 1.10 10.0 1.21 1.10 10.0
Operational data Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Liquids Production (Thousand bbl/d) 208 234 214 (2.8) 221 229 (3.5)
Gas Production (**) (Million scf/d) 1,983 2,267 2,388 (17.0) 2,125 2,503 (15.1)
Total Production (Thousand boe/d) 561 638 640 (12.3) 599 675 (11.3)
Crude Oil Realization Price ($/bbl) 61.5 54.4 25.5 141.2 57.7 35.8 61.2
Gas Realization Price ($/Thousand scf) 3.7 3.4 1.9 94.7 3.6 2.2 63.6
Distillation Utilization Spanish Refining (%) 70.6 76.2 69.9 0.7 73.4 76.1 (2.7)
Conversion Utilization Spanish Refining (%) 73.1 81.6 82.4 (9.3) 77.3 91.4 (14.1)
Refining Margin Indicator in Spain ($/bbl) 1.5 0.2 3.0 (50.0) 0.9 3.9 (76.9)
Sustainability data Q2 2021 Q1 2021 Q2 2020 Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 Change 2021 / 2020
Process safety indicator (PSIR) 0.11 0.46 0.55 (0.4) 0.23 0.82 (0.6)
Total recordable injury rate (TRIR) 1.01 0.90 0.36 0.7 0.91 0.99 (0.1)
Annual CO2e emissions reduction (Kt) (***) 106 70 168 (62) 176 228 (52)
(*) It includes leases: 3,715 M€ and 3,626 M€ as of first quarter 2021 and second quarter 2021 respectively (**) 1,000 Mcf/d = 28.32 Mm3/d = 0.178 Mboe/d. (***) Estimated.
UPSTREAM
(Unaudited figures)
Results (€ Million) Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Adjusted Net Income 351 327 (141) - 678 (51) -
Operating income 586 596 (165) - 1,182 (4) -
Income tax (239) (271) 20 - (510) (57) -
Income from equity affiliates and non-controlling interests 4 2 4 - 6 10 (40.0)
EBITDA 918 927 331 177.3 1,845 988 86.7
Investments 212 206 214 (0.9) 418 603 (30.7)
Effective Tax Rate (%) (*) (41) (45) 12 (53.0) (43) - -
International prices Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Brent ($/bbl) 69.0 61.1 29.6 133.1 65.0 40.1 62.1
WTI ($/bbl) 66.2 58.1 28.0 136.4 62.2 36.8 69.0
Henry Hub ($/MBtu) 2.8 2.7 1.7 64.7 2.8 1.8 55.6
Average exchange rate ($/€) 1.21 1.20 1.10 10.0 1.21 1.10 10.0
Realization prices Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Crude Oil ($/bbl) 61.5 54.4 25.5 141.2 57.7 35.8 61.2
Gas ($/Thousand scf) 3.7 3.4 1.9 94.7 3.6 2.2 63.6
Production Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Liquids (Thousand bbl/d) 208 234 214 (2.8) 221 229 (3.5)
Gas (**) (Million scf/d) 1,983 2,267 2,388 (17.0) 2,125 2,503 (15.1)
Total (Thousand boe/d) 561 638 640 (12.3) 599 675 (11.3)
(*) Calculated on the Operating Income (**) 1,000 Mcf/d = 28.32 Mm3/d = 0.178 Mboe/d
INDUSTRIAL
(Unaudited figures)
Results (€ Million) Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Adjusted Net Income 166 73 8 - 239 296 (19.3)
Operating income 219 88 15 - 307 409 (24.9)
Income tax (57) (20) (5) - (77) (109) 29.4
Income from equity affiliates and non-controlling interests 4 5 (2) - 9 (4) -
Inventory effect (after taxes) 160 304 (282) - 464 (1,066) -
EBITDA 647 708 (156) - 1,355 (670) -
EBITDA CCS 424 289 223 90.1 713 808 (11.8)
Investments 129 74 104 24.0 203 227 (10.6)
Effective Tax Rate (%) (*) (26) (23) (33) 7.0 (25) (27) 2.0
Operational data Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Refining Margin Indicator in Spain ($/bbl) 1.5 0.2 3.0 (50.0) 0.9 3.9 0 (76.9)
Distillation Utilization Spanish Refining (%) 70.6 76.2 69.9 0.7 73.4 76.1 0 (2.7)
Conversion Utilization Spanish Refining (%) 73.1 81.6 82.4 (9.3) 77.3 91.4 0 (14.1)
Processed Crude (Mt) 8.8 9.4 8.3 6.0 18.2 18.5 (1.6)
Intl. Petrochemical Margin Indicator (€/t) 1,537 1,059 884 73.9 1,298 874 48.5
Petrochemical Product Sales (Thousand tons) 671 711 740 (9.3) 1,382 1,297 6.6
International prices ($/bbl) Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Maya vs Brent spread (5.5) (4.5) (8.6) 36.0 (5.0) (9.3) 46.2
Gasoline vs Brent spread 10.1 5.6 2.5 - 7.8 3.7 110.8
Diesel vs Brent spread 6.4 5.9 8.9 (28.1) 6.2 11.3 (45.1)
(*) Calculated on the Operating Income
COMMERCIAL AND RENEWABLES
(Unaudited figures)
Results (€ Million) Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Adjusted Net Income 127 101 42 202.4 228 163 39.9
Operating income 176 136 54 225.9 312 218 43.1
Income tax (45) (33) (12) (275.0) (78) (52) (50.0)
Income from equity affiliates and non-controlling interests (4) (2) 0 - (6) (3) (100.0)
Inventory effect (after taxes) 8 17 (16) - 25 (22) -
EBITDA 277 242 118 134.7 519 360 44.2
EBITDA CCS 267 219 140 90.7 486 389 24.9
Investments 200 213 141 41.8 413 259 59.5
Effective Tax Rate (%) (*) (25) (24) (22) (3.0) (25) (24) (1.0)
Operational data Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Electricity Prices in Spanish pool (€/MWh) 71.8 44.7 23.2 209.5 58.3 29.0 101.0
Marketing own network sales (Diesel & Gasoline in km3) 3,248 3,255 2,385 36.2 6,502 5,825 11.6
Electricity Generation (GWh) 958 1,095 1,401 (31.6) 2,052 2,293 (10.5)
Electricity commercialization (GWh) (**) 892 1,015 848 5.2 1,907 1,912 (0.3)
LPG Sales (Thousand tons) 263 387 221 19.0 650 601 8.2
(*) Calculated on the Operating Income (**) Estimated
CORPORATE AND OTHERS
(Unaudited figures)
Results (€ Million) Q2 2021 Q1 2021 Q2 2020 e % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Adjusted Net Income (156) (30) (167) 6.6 (186) (219) 15.1
Corporate and adjustments result (64) (58) (73) 12.3 (122) (129) 5.4
Financial result (138) 27 (125) (10.4) (111) (136) 18.4
Consolidation adjustments 0.0 0.0
Income tax 45 1 31 45.2 46 46 0.0
Income from equity affiliates and non-controlling interests 1 0 0 - 1 0 -
EBITDA (44) (40) (53) 17.0 (84) (89) 5.6
Net Interests (*) (43) (47) (55) 21.8 (90) (104) 13.5
Investments 19 8 20 (5.0) 27 24 12.5
Effective Tax Rate (%) (**) 22 5 16 6.0 20 18 2.0
(*) Does not include interest income/expenses from leases. (**) Calculated on the Operating Income and the Financial Result.
SPECIAL ITEMS
(Unaudited figures)
Results (€ Million) Q2 2021 Q1 2021 Q2 2020 % Change Q2 21/Q2 20 Jan - Jun 2021 Jan - Jun 2020 % Change 2021 / 2020
Divestments (5) 6 3 - 1 72 (98.6)
Indemnities and workforce restructuring (31) (23) (35) 11.4 (54) (41) (31.7)
Impairment of assets (15) 10 (1,296) 98.8 (5) (1,296) 99.6
Provisions and others (18) (137) (113) 84.1 (155) (320) 51.6
Special Items (69) (144) (1,441) 95.2 (213) (1,585) 86.6

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/xl/drawings/drawing2.xml#Index!A1
Net Debt
NET DEBT
(Unaudited figures)
NET DEBT EVOLUTION (1) (€ Million) Q2 2021 Jan-Jun 2021
NET DEBT AT THE START OF THE PERIOD 6,452 6,778
EBITDA CCS (1,565) (2,960)
INVENTORY EFFECT (233) (675)
CHANGE IN WORKING CAPITAL 561 1,158
INCOME TAX RECEIVED /PAID 217 343
NET INVESTMENT 453 978
DIVIDENDS PAID AND OTHER EQUITY INSTRUMENTS PAYOUTS 28 146
TREASURY SHARES AND EQUITY DERIVATIVES (2) 140 445
HYBRID BONDS ISSUANCE/TENDER 0 (340)
INTEREST AND OTHER MOVEMENTS (3) 333 513
NET DEBT AT THE END OF THE PERIOD 6,386 6,386
Acummulated '21 June
CAPITAL EMPLOYED (M€) 27,348
NET DEBT / CAPITAL EMPLOYED (%) 23.4
(1) It includes leases: €3,736 million, €3,715 million and €3,626 million as of fourth quarter 2020, first quarter 2021 and second quarter 2021, respectively. (2) It includes the Share Buy Back program (€427 million year-to-date) implemented to avoid the dilution because of the scrip dividend paid in January. It also includes MTM treasury shares derivatives of €-19 and €141 million in the second quarter 2021 and year-to-date 2021 respectively. (3) Principally includes new lease contracts, interest expenses, exchange rate effect, dividends received, companies' acquisition/sale effect and other effects.

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/xl/drawings/drawing3.xml#Index!A1
Adj. Net Income by Business Seg
ADJUSTED NET INCOME BY BUSINESS SEGMENTS
(Unaudited figures)
€ Million Q2 2021
Operating income Financial Results Income Tax Income from equity affiliates and non-controlling interests Adjusted net income Inventory effect Special Items Net Income
Upstream 586 - (239) 4 351 - (60) 291
Industrial 219 - (57) 4 166 160 (11) 315
Commercial and Renewables 176 - (45) (4) 127 8 (7) 128
Corporate & Others (64) (138) 45 1 (156) - 9 (147)
TOTAL 917 (138) (296) 5 488 168 (69) 587
NET INCOME (69) 587
€ Million Q1 2021
Operating income Financial Results Income Tax Income from equity affiliates and non-controlling interests Adjusted net income Inventory effect Special Items Net Income
Upstream 596 - (271) 2 327 - (104) 223
Industrial 88 - (20) 5 73 304 (10) 367
Commercial and Renewables 136 - (33) (2) 101 17 2 120
Corporate & Others (58) 27 1 - (30) - (32) (62)
TOTAL 762 27 (323) 5 471 321 (144) 648
NET INCOME (144) 648
€ Million Q2 2020
Operating income Financial Results Income Tax Income from equity affiliates and non-controlling interests Adjusted net income Inventory effect Special Items Net Income
Upstream (165) - 20 4 (141) - (1,376) (1,517)
Industrial 15 - (5) (2) 8 (282) (4) (278)
Commercial and Renewables 54 - (12) - 42 (16) (20) 6
Corporate & Others (73) (125) 31 - (167) - (41) (208)
TOTAL (169) (125) 34 2 (258) (298) (1,441) (1,997)
NET INCOME (1,441) (1,997)
€ Million January - June 2021
Operating income Financial Results Income Tax Income from equity affiliates and non-controlling interests Adjusted net income Inventory effect Special Items Net Income
Upstream 1,182 - (510) 6 678 - (164) 514
Industrial 307 - (77) 9 239 464 (21) 682
Commercial and Renewables 312 - (78) (6) 228 25 (5) 248
Corporate & Others (122) (111) 46 1 (186) - (23) (209)
TOTAL 1,679 (111) (619) 10 959 489 (213) 1,235
NET INCOME (213) 1,235
€ Million January - June 2020
Operating income Financial Results Income Tax Income from equity affiliates and non-controlling interests Adjusted net income Inventory effect Special Items Net Income
Upstream (4) - (57) 10 (51) - (1,489) (1,540)
Industrial 409 - (109) (4) 296 (1,066) (32) (802)
Commercial and Renewables 218 - (52) (3) 163 (22) (12) 129
Corporate & Others (129) (136) 46 - (219) - (52) (271)
TOTAL 494 (136) (172) 3 189 (1,088) (1,585) (2,484)
NET INCOME (1,585) (2,484)

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/xl/drawings/drawing4.xml#Index!A1
Other Financ. Infor
OTHER FINANCIAL INFORMATION
(Unaudited figures)
REVENUES QUARTERLY DATA JANUARY - JUNE
€ Million Q2 2021 Q1 2021 Q2 2020 2021 2020
UPSTREAM 1,494 1,494 773 2,988 2,150
INDUSTRIAL 8,460 7,913 4,635 16,373 12,803
COMMERCIAL AND RENEWABLES 5,046 4,389 2,844 9,435 7,866
CORPORATION & OTHERS (3,605) (3,204) (1,871) (6,809) (5,306)
TOTAL 11,395 10,592 6,381 21,987 17,513
EBITDA QUARTERLY DATA JANUARY - JUNE
€ Million Q2 2021 Q1 2021 Q2 2020 2021 2020
UPSTREAM 918 927 331 1,845 988
INDUSTRIAL 647 708 (156) 1,355 (670)
COMMERCIAL AND RENEWABLES 277 242 118 519 360
CORPORATION & OTHERS (44) (40) (53) (84) (89)
TOTAL 1,798 1,837 240 3,635 589
INVESTMENTS QUARTERLY DATA JANUARY - JUNE
€ Million Q2 2021 Q1 2021 Q2 2020 2021 2020
UPSTREAM 212 206 214 418 603
INDUSTRIAL 129 74 104 203 227
COMMERCIAL AND RENEWABLES 200 213 141 413 259
CORPORATION & OTHERS 19 8 20 27 24
TOTAL 560 501 479 1,061 1,113
CAPITAL EMPLOYED CUMULATIVE DATA
€ Million jun-21 dec-20
UPSTREAM 12,742 12,608
INDUSTRIAL 10,368 9,755
COMMERCIAL AND RENEWABLES 4,347 4,061
CORPORATION & OTHERS (109) 893
TOTAL 27,348 27,317
ROACE (%) 4.5 (10.3)
(*)2Q21 ROACE CCS is 2.6%

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/xl/drawings/drawing5.xml#Index!A1
Operating Indicators (I)
OPERATING INDICATORS (I)
Unit Q1 2020 Q2 2020 Jan - Jun 2020 Q3 2020 Q4 2020 Jan - Dec 2020 Q1 2021 Q2 2021 Jan - Jun 2021 % Variation YTD21/YTD20
HYDROCARBON PRODUCTION kboe/d 710 640 675 616 628 648 638 561 599 (11.2)
Liquids production kboe/d 244 214 229 192 217 217 234 208 221 (3.7)
Europe & Africa kboe/d 62 54 58 41 67 56 82 67 74 28.3
Latin America kboe/d 94 76 85 75 80 81 82 81 81 (4.1)
North America kboe/d 63 57 60 52 47 55 49 46 48 (20.4)
Asia, Russia & Rest of the world kboe/d 26 28 27 25 23 25 21 14 18 (33.9)
Natural gas production kboe/d 466 425 446 424 411 432 404 353 378 (15.1)
Europe & Africa kboe/d 34 30 32 29 29 31 36 27 32 (1.1)
Latin America kboe/d 226 203 215 217 210 214 204 171 187 (12.8)
North America kboe/d 161 149 155 135 127 143 118 112 115 (25.9)
Asia, Russia & Rest of the world kboe/d 45 43 44 43 45 44 46 43 45 1.2
Natural gas production (Million scf/d) 2,617 2,388 2,503 2,383 2,308 2,424 2,267 1,983 2,125 (15.1)

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/xl/drawings/drawing6.xml#Index!A1
Operating Indicators (II)
OPERATING INDICATORS (II) I
Unit Q1 2020 Q2 2020 Jan - Jun 2020 Q3 2020 Q4 2020 Jan - Dec 2020 Q1 2021 Q2 2021 Jan - Jun 2021 % Variation YTD21/YTD20
PROCESSED CRUDE OIL Mtoe 10.1 8.3 18.5 8.5 8.9 35.9 9.4 8.8 18.2 (1.3)
Europe Mtoe 9.2 7.8 17.0 7.9 8.3 33.1 8.5 7.8 16.3 (3.9)
Rest of the world Mtoe 0.9 0.6 1.5 0.7 0.6 2.8 0.9 1.0 1.9 27.9
SALES OF OIL PRODUCTS kt 10,958 9,899 20,857 9,904 10,719 41,480 10,068 10,218 20,286 (2.7)
Europe Sales kt 9,799 9,207 19,006 8,989 9,590 37,585 8,875 8,726 17,601 (7.4)
Own network kt 4,520 3,252 7,772 4,392 4,371 16,535 3,952 4,047 7,999 2.9
Light products kt 3,776 2,424 6,200 3,632 3,600 13,432 3,246 3,368 6,614 6.7
Other Products kt 744 828 1,572 760 771 3,103 706 679 1,385 (11.9)
Other Sales to Domestic Market kt 2,194 1,527 3,721 2,066 1,865 7,652 1,542 1,851 3,393 (8.8)
Light products kt 2,166 1,499 3,665 2,041 1,835 7,541 1,509 1,812 3,321 (9.4)
Other Products kt 28 28 56 25 30 111 33 39 72 28.6
Exports kt 3,085 4,428 7,513 2,531 3,354 13,398 3,381 2,828 6,209 (17.4)
Light products kt 880 2,375 3,255 794 1,536 5,585 1,462 920 2,382 (26.8)
Other Products kt 2,205 2,053 4,258 1,737 1,818 7,813 1,919 1,908 3,827 (10.1)
Rest of the world sales kt 1,159 692 1,851 915 1,129 3,895 1,193 1,492 2,685 45.1
Own network kt 757 407 1,164 597 743 2,504 756 815 1,571 35.0
Light products kt 723 381 1,104 552 690 2,346 712 763 1,475 33.6
Other Products kt 34 26 60 45 53 158 44 52 96 60.0
Other Sales to Domestic Market kt 176 153 329 224 267 820 240 403 643 95.4
Light products kt 142 147 289 194 194 677 169 311 480 66.1
Other Products kt 34 6 40 30 73 143 71 92 163 307.5
Exports kt 226 132 358 94 119 571 197 274 471 31.6
Light products kt 20 3 23 1 78 102 33 2 35 52.2
Other Products kt 206 129 335 93 41 469 164 272 436 30.1
CHEMICALS
Sales of petrochemical products kt 557 740 1,297 704 727 2,729 711 671 1,382 6.5
Europe kt 440 559 999 543 541 2,084 569 552 1,121 12.2
Base kt 98 203 301 178 177 655 168 180 348 15.9
Derivative kt 342 356 698 366 364 1,428 401 372 773 10.7
Rest of the world kt 117 181 298 161 186 645 142 119 261 (12.6)
Base kt 16 65 81 30 50 161 32 32 64 (21.6)
Derivative kt 101 116 217 131 136 484 110 87 197 (9.2)
LPG
LPG sales kt 380 221 601 221 340 1,162 387 263 650 8.0
Europe kt 374 219 593 216 333 1,141 382 257 638 7.7
Rest of the world kt 6 2 8 5 8 21 5 6 11 33.9
Other sales to the domestic market: includes sales to operators and bunker
Exports: expressed from the country of origin

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/xl/drawings/drawing7.xml#Index!A1
Balance Sheet REP reporting
STATEMENT OF FINANCIAL POSITION
(€ Million)
(Unaudited figures)
Prepared according to Repsol's reporting model (See Appendix IV - Basis of presentation of Repsol's 2Q21 Results document)
JUNE DECEMBER
2021 2020
NON-CURRENT ASSETS
Goodwill 1,497 1,476
Other intangible assets 1,928 1,990
Property, plant and equipment 25,681 25,907
Investment property 23 23
Investments accounted for using the equity method 482 279
Non-current financial assets 166 154
Deferred tax assets 3,824 4,081
Other non-current assets 911 823
CURRENT ASSETS
Non-current assets held for sale 841 15
Inventories 4,805 3,540
Trade and other receivables 6,495 5,275
Other current assets 305 257
Other current financial assets 1,524 1,425
Cash and cash equivalents 5,247 4,578
TOTAL ASSETS 53,729 49,823
TOTAL EQUITY
Attributable to equity holders of the parent company 20,707 20,295
Attributable to minority interests 255 244
NON-CURRENT LIABILITIES
Non-current provisions 5,165 5,034
Non-current financial liabilities 9,206 9,547
Deferred tax liabilities and others 2,749 2,771
Other non-current liabilities 538 407
CURRENT LIABILITIES
Liabilities related to non-current assets held for sale 583 1
Current provisions 691 813
Current financial liabilities 4,371 3,620
Trade and other payables 9,464 7,091
TOTAL LIABILITIES 53,729 49,823

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/xl/drawings/drawing8.xml#Index!A1
Income Stat. REP reporting
INCOME STATEMENT
(€ Million) (Unaudited figures)
Prepared according to Repsol's reporting model (See Appendix IV - Basis of presentation of Repsol's 2Q21 Results document)
QUARTERLY DATA JANUARY - JUNE
Q2 2021 Q1 2021 Q2 2020 2021 2020
Revenue 11,395 10,592 6,381 21,987 17,513
Operating income 917 762 (169) 1,679 494
Financial result (138) 27 (125) (111) (136)
Income from equity affiliates 4 0 2 4 7
Net income before tax 783 789 (292) 1,572 365
Income tax (296) (323) 34 (619) (172)
Net income from operations 487 466 (258) 953 193
Net income from non-controlling interest 1 5 0 6 (4)
ADJUSTED NET INCOME 488 471 (258) 959 189
Inventory effect 168 321 (298) 489 (1,088)
Special Items (69) (144) (1,441) (213) (1,585)
NET INCOME 587 648 (1,997) 1,235 (2,484)

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/xl/drawings/drawing9.xml#Index!A1
Cashflow Statement REPreporting
PROFORMA CASH FLOW STATEMENT
(€ Million) (Unaudited figures)
Prepared according to Repsol's reporting model (See Appendix IV - Basis of presentation of Repsol's 2Q21 Results document)
QUARTERLY DATA JANUARY - JUNE
Q2 2021 Q2 2020 2021 2020
I. CASH FLOWS FROM OPERATING ACTIVITIES
EBITDA CCS 1,565 641 2,960 2,096
Inventory Effect 233 (401) 675 (1,507)
Changes in working capital (561) 150 (1,158) 459
Dividends received (1) 13 11 19
Income taxes received/ (paid) (217) (73) (343) (10)
Other proceeds from/ (payments for) operating activities (117) (62) (213) (193)
902 268 1,932 864
II. CASH FLOWS USED IN INVESTMENT ACTIVITIES
Payments for investment activities (574) (505) (1,107) (1,207)
Organic investments (453) (499) (873) (1,156)
Inorganic investments (121) (6) (234) (51)
Proceeds from divestments 120 20 130 515
(454) (485) (977) (692)
FREE CASH FLOW (I. + II.) 448 (217) 955 172
Payments for dividends and payments on other equity instruments (28) 11 (146) (128)
Net interests (89) (131) (199) (253)
Treasury shares 20 0 (447) (150)
CASH GENERATED IN THE PERIOD 351 (337) 163 (359)
Financing activities and others 370 2,420 506 2,658
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 721 2,083 669 2,299
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 4,526 3,434 4,578 3,218
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 5,247 5,517 5,247 5,517

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/xl/drawings/drawing10.xml#Index!A1
Balance Sheet IFRS11
STATEMENT OF FINANCIAL POSITION
(€ Million)
(Unaudited figures)
Prepared according to International Financial Reporting Standards (IFRS-EU)
JUNE DECEMBER
2021 2020
NON-CURRENT ASSETS
Goodwill 1,441 1,422
Other intangible assets 1,872 1,931
Property, plant and equipment 20,684 20,927
Investment property 22 23
Investments accounted for using the equity method 3,515 5,897
Non-current financial assets 969 916
Deferred tax assets 3,485 3,745
Other non-current assets 943 857
CURRENT ASSETS
Non-current assets held for sale 830 5
Inventories 4,616 3,379
Trade and other receivables 5,231 4,056
Other current assets 288 239
Other current financial assets 1,697 1,584
Cash and cash equivalents 4,914 4,321
TOTAL ASSETS 50,507 49,302
TOTAL EQUITY
Attributable to equity holders of the parent company 20,707 20,295
Attributable to minority interests 255 244
NON-CURRENT LIABILITIES
Non-current provisions 3,602 3,572
Non-current financial liabilities 8,547 12,123
Deferred tax liabilities and others 2,161 2,142
Other non-current liabilities 538 407
CURRENT LIABILITIES
Liabilities related to non-current assets held for sale 582 0
Current provisions 639 740
Current financial liabilities 5,219 3,880
Trade and other payables 8,257 5,899
TOTAL LIABILITIES 50,507 49,302

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/xl/drawings/drawing11.xml#Index!A1
Income Stat. IFRS11
INCOME STATEMENT
(€ Million) (Unaudited figures)
Prepared according to International Financial Reporting Standards (IFRS-EU)
2Q 2Q JUNE JUNE
2021 2020 2021 2020
Sales 10,738 6,013 20,742 16,488
Income from services rendered 86 93 148 175
Changes in inventories of finished goods and work in progress 240 (316) 527 (500)
Other operating income 224 (117) 627 279
Procurements (8,082) (4,054) (15,396) (12,863)
Amortization and depreciation of non-current assets (478) (566) (982) (1,146)
(Provision for)/Reversal of provisions for impairment (40) (575) (21) (577)
Personnel expenses (451) (484) (890) (935)
Transport and freights (257) (334) (530) (757)
Supplies (128) (66) (285) (203)
Gains/(Losses) on disposal of assets (5) 3 6 69
Other operating expenses (1,121) (770) (2,222) (1,700)
OPERATING NET INCOME 726 (1,173) 1,724 (1,670)
Net interest (31) (65) (83) (127)
Change in fair value of financial instruments (67) (75) 302 128
Exchange gains/(losses) 298 93 63 (24)
Impairment of financial instruments (2) (21) (6) (25)
Other financial income and expenses (61) (67) (106) (117)
FINANCIAL RESULT 137 (135) 170 (165)
NET INCOME FROM INVESTMENTS ACCOUNTED FOR USING THE EQUITY METHOD 103 (941) 117 (978)
NET INCOME BEFORE TAX 966 (2,249) 2,011 (2,813)
Income tax (375) 249 (767) 296
NET INCOME 591 (2,000) 1,244 (2,517)
NET INCOME FROM OPERATIONS ATTRIBUTABLE TO NON-CONTROLLING INTERESTS (4) 3 (9) 33
TOTAL NET INCOME ATTRIBUTABLE TO THE PARENT 587 (1,997) 1,235 (2,484)
EARNINGS PER SHARE ATTRIBUTABLE TO THE PARENT €/share €/share €/share €/share
Basic 0.39 (1.28) 0.80 (1.59)
Diluted 0.39 (1.28) 0.80 (1.59)

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/xl/drawings/drawing12.xml#Index!A1
Cashflow statement IFRS11
CASH FLOW STATEMENT
(€ Million)
(Unaudited figures)
Prepared according to International Financial Reporting Standards (IFRS-EU)
JANUARY - JUNE
2021 2020
I. CASH FLOWS FROM OPERATING ACTIVITIES
Net income before taxes 2,011 (2,813)
Adjustments to net income
Depreciation and amortisation of non current assets 982 1,146
Other adjustments to results (net) 37 1,758
EBITDA 3,030 91
Changes in working capital (1,030) 665
Dividends received 49 56
Income taxes received/ (paid) (316) (9)
Other proceeds from/ ( payments for) operating activities (193) (186)
Other cash flows from/ (used in) operating activities (460) (139)
1,540 617
II. CASH FLOWS USED IN INVESTMENT ACTIVITIES
Payments for investment activities
Companies of the Group, equity affiliates and business units (246) (56)
Fixed assets, intangible assets and real estate investments (648) (944)
Other financial assets (518) (1,073)
Payments for investment activities (1,412) (2,073)
Proceeds from divestments
Companies of the Group, equity affiliates and business units 128 469
Fixed assets, intangible assets and real estate investments 28 17
Other financial assets 299 2,663
Proceeds from divestments 455 3,149
Other cashflow 12 40
(945) 1,116
III. CASH FLOWS FROM/ (USED IN) FINANCING ACTIVITIES
Issuance/ Repayment and Redemption of own capital instruments 340 886
Proceeds from/(payments for) equity instruments (447) (150)
Proceeds from issue of financial liabilities 5,099 6,000
Payments for financial liabilities (4,368) (5,757)
Payments for dividends and payments on other equity instruments (146) (128)
Interest payments (180) (209)
Other proceeds from/(payments for) financing activities (320) (55)
(22) 587
Effect of changes in exchange rates from continued operations 20 (14)
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS 593 2,306
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD 4,321 2,979
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD 4,914 5,285

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/xl/drawings/drawing13.xml#Index!A1
RIES IFRS 11
RECOGNIZED INCOME AND EXPENSE STATEMENT
(Unaudited figures) (€ Million)
Prepared according to International Financial Reporting Standards (IFRS-EU)
JANUARY - JUNE
2021 2020
Net Income 1,244 (2,517)
Other comprehensive income. (Items not reclassifiable to net income) 17 (20)
Due to actuarial gains and losses 6 (6)
Investments accounted for using the equity method 11 (14)
Equity instruments with changes through other comprehensive income 0 0
Tax effect 0 0
Other comprehensive income. (Items reclassifiable to net income) 362 (193)
Cash flow hedging 6 (38)
Valuation gains / (losses) 2 3
Amounts transferred to the income statement 4 (41)
Translation differences 332 (191)
Valuation gains / (losses) 418 (154)
Amounts transferred to the income statement (86) (37)
Share of investments in joint ventures and associates: 0 0
Valuation gains / (losses) 0 0
Amounts transferred to the income statement 0 0
Tax effect 24 36
Total other comprehensive income 379 (213)
Total comprehensive income for the period 1,623 (2,730)
a) Attributable to the parent 1,613 (2,697)
b) Attributable to non-controlling interests 10 (33)

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/xl/drawings/drawing14.xml#Index!A1
Stat. of changes in eq. IFRS 11
STATEMENT OF CHANGES IN EQUITY
(Unaudited figures) (€ millions) Prepared according to International Financial Reporting Standards (IFRS-EU)
Million euros Equity attributable to the parent and other equity instrument holders Non-controlling interests Equity
Shareholders' equity Other cumulative comprehensive income
Share capital Share premium and reserves Treasury shares and own equity investments Net income for the period attributable to the parent Other equity instruments
Closing balance at 12/31/2019 1,566 26,731 (1,170) (3,816) 1,024 593 281 25,209
Impact of new standards 0 0 0 0 0 0 0 0
Adjusted opening balance 1,566 26,731 (1,170) (3,816) 1,024 593 281 25,209
Total recognized income/(expenses) 0 (20) 0 (2,484) 0 (193) (33) (2,730)
Transactions with partners or owners 60 (301) (156) 0 0 0 0 (397)
Share capital increase/(reduction) 60 (60) 0 0 0 0 0 0
Dividends and shareholder remuneration 0 (236) 0 0 0 0 0 (236)
Transactions with treasury shares and own equity investments (net) 0 (5) (156) 0 0 0 0 (161)
Increases/(reductions) due to changes in scope 0 0 0 0 0 0 0 0
Other transactions with partners and owners 0 0 0 0 0 0 0 0
Other equity variations 0 (3,846) 0 3,816 888 0 0 858
Transfers between equity-line items 0 (3,816) 0 3,816 0 0 0 0
Subordinated perpetual obligations 0 (25) 0 0 884 0 0 859
Other variations 0 (5) 0 0 4 0 0 (1)
Closing balance at 06/30/2020 1,626 22,564 (1,326) (2,484) 1,912 400 248 22,940
Total recognized income/(expenses) 0 0 0 (805) 0 (1,290) (1) (2,096)
Transactions with partners or owners (58) (1,405) 1,164 0 0 0 (1) (300)
Share capital increase/(reduction) 41 (41) 0 0 0 0 0 0
Dividends and shareholder remuneration 0 (102) 0 0 0 0 (1) (103)
Transactions with treasury shares and own equity investments (net) (99) (1,262) 1,164 0 0 0 0 (197)
Increases/(reductions) due to changes in scope 0 0 0 0 0 0 0 0
Other transactions with partners and owners 0 0 0 0 0 0 0 0
Other equity variations 0 (27) 0 0 24 0 (2) (5)
Transfers between equity-line items 0 0 0 0 0 0 0 0
Subordinated perpetual obligations 0 (29) 0 0 23 0 0 (6)
Other variations 0 2 0 0 1 0 (2) 1
Closing balance at 12/31/2020 1,568 21,132 (162) (3,289) 1,936 (890) 244 20,539
Impact of new standards 0 0 0 0 0 0 0 0
Adjusted opening balance 1,568 21,132 (162) (3,289) 1,936 (890) 244 20,539
Total recognized income/(expenses)
0 17 0 1,235 0 361 10 1,623
Transactions with partners or owners (41) (1,274) (187) 0 0 0 0 (1,502)
Share capital increase/(reduction) (41) (386) 427 0 0 0 0 0
Dividends and shareholder remuneration 0 (916) 0 0 0 0 0 (916)
Transactions with treasury shares and own equity investments (net) 0 28 (614) 0 0 0 0 (586)
Increases/(reductions) due to changes in scope 0 0 0 0 0 0 0 0
Other transactions with partners and owners 0 0 0 0 0 0 0 0
Other equity variations 0 (3,324) 0 3,289 336 0 1 302
Transfers between equity-line items 0 (3,289) 0 3,289 0 0 0 0
Subordinated perpetual obligations 0 (30) 0 0 336 0 0 306
Other variations 0 (5) 0 0 0 0 1 (4)
Closing balance at 06/30/2021 1,527 16,551 (349) 1,235 2,272 (529) 255 20,962

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/xl/drawings/drawing15.xml#Index!A1

Disclaimer

Repsol SA published this content on 28 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2021 09:06:07 UTC.


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Sales 2021 48 627 M 56 801 M 56 801 M
Net income 2021 2 164 M 2 527 M 2 527 M
Net Debt 2021 6 640 M 7 756 M 7 756 M
P/E ratio 2021 7,64x
Yield 2021 5,44%
Capitalization 16 392 M 19 145 M 19 147 M
EV / Sales 2021 0,47x
EV / Sales 2022 0,47x
Nbr of Employees 21 965
Free-Float 87,5%
Chart REPSOL S.A.
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Repsol S.A. Technical Analysis Chart | REP | ES0173516115 | MarketScreener
Technical analysis trends REPSOL S.A.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 11,02 €
Average target price 12,12 €
Spread / Average Target 9,94%
EPS Revisions
Managers and Directors
Josu Jon Imaz San Miguel Chief Executive Officer & Executive Director
Antonio Lorenzo Sierra Chief Financial Officer
Antonio Brufau Niubˇ Non-Executive Chairman
Luis Aurelio Cabra Due˝as Executive Managing Director-Technology Development
Henri Philippe Reichstul Independent Non-Executive Director
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