Galp profits 1.494 million in the first nine months of the year

Galp reported a net adjusted profit of €1.494 billion in the first nine months of the year, a 54% increase from €973 million last year. The accounting profit was €852 million, down 9% from the same period in 2025. In Q3 alone, profits reached €682 million, up 68% year-on-year. The company attributes this growth to increased oil and gas production in Brazil, strong export performance, and trading activities. EBITDA in upstream operations rose 67% to €2 billion, while total EBITDA increased 54% to €3.7 billion. The industrial segment saw a 52% rise in EBITDA to €1.3 billion, with exports tripling to €640 million. Galp's refining margins improved significantly, and the company secured fuel supply needs for Portugal until 2026. The commercial sector also saw a 22% increase in EBITDA to €344 million, while renewable capacity reached 2.7 GW, with a 67% rise in EBITDA to €57 million.