Galp's profit rises 68% to 682 million euros in the third quarter

Galp's profit surged by 68% to €682 million in Q3, driven by increased production in Brazil and refined product exports. Adjusted net income for the first nine months reached €1.49 billion, a 54% rise year-on-year. However, net income under IFRS fell by 24% in Q3 to €201 million. Oil production in Brazil hit a record 131,000 barrels per day, aided by rising Brent crude prices. The company's international operations contributed significantly to its EBITDA, which rose to €3.74 billion for the first nine months. Investments totaled €1.34 billion, primarily in renewable energy and decarbonization projects. CEO Maria João Carioca emphasized the results reflect a long-term growth strategy.