João Gonçalves Pereira
Head of Investor Relations
Replay available
Galp Energia SGPS SA (GLPEF) Q1 2025 Earnings Call
Galp Energia SGPS SA (OTC: GLPEF) Q1 2025 earnings conference call, held 2025-04-28. Replay captured from the company's public earnings webcast.
Hosted by
Featured presenters
João Diogo
Co-CEO
Maria João
Co-CEO
Josh Stone
Analyst, UBS
Alessandro Pozzi
Analyst, Mediobanca
Viraj Bhattacharya
Analyst, RBC
Giacomo Romeo
Analyst, Jefferies
Matt Smith
Analyst, Bank of America
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Galp Energia, Sgps S.a. Class B.
Replay transcript excerpt
WEBVTT 00:00:01.162 -- 00:00:07.008 Good morning, ladies and gentlemen. Welcome to GALP's first quarter 2025 results presentation. 00:00:07.008 -- 00:00:13.352 I will now pass the floor to João Gonçalves Pereira, Head of Investor Relations. 00:00:14.074 -- 00:00:19.560 Good morning, everyone, and welcome to GALP's first quarter 2025 analyst Q&A session. 00:00:19.560 -- 00:00:24.865 In the room with me, I have both our co-CEOs, Maria João and João Diogo, and the executive 00:00:24.865 -- 00:00:29.990 team. But before passing the mic for some quick opening remarks, our usual 00:00:29.990 -- 00:00:34.603 disclaimer. During today's session, forward-looking statements are based on our current 00:00:34.603 -- 00:00:39.812 estimates. Actual results could be further to factors outlined in our cautionary statements 00:00:39.812 -- 00:00:42.716 within the materials we released this morning. 00:00:42.716 -- 00:00:45.581 João Diogo, the mic is yours. 00:00:45.581 -- 00:00:48.826 Thank you, João. Good morning, everyone. 00:00:48.826 -- 00:00:54.355 Q1 was a solid quarter for GALP, particularly when facing increased 00:00:54.355 -- 00:01:00.214 market volatility. Geopolitical scenarios are evolving rapidly and uncertainty 00:01:00.214 -- 00:01:06.100 remains high. In this scenario, GALP's highly resilient asset base 00:01:06.100 -- 00:01:11.105 is reassuring. As you know, our upstream operating base runs on cash 00:01:11.105 -- 00:01:14.348 break-evens of $20 per barrel, 00:01:14.348 -- 00:01:19.854 and the Iberian mid-downstream businesses are running lean and should be reasonably resilient 00:01:19.854 -- 00:01:24.868 cash flow providers. It is, of course, fundamental to ensure discipline 00:01:24.868 -- 00:01:30.435 execution and capital allocation returns focused and adapted t...