Repsol Sa Sp/Adr (REPYY) Q1 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.840 Good morning to all. Welcome to REPSOL first quarter 2025 results presentation. 00:00:05.840 -- 00:00:11.609 Today's conference call will be hosted by Joshua Yonimath, our chief executive officer, 00:00:11.609 -- 00:00:15.795 with other members of the executive team joining us as well. 00:00:15.795 -- 00:00:19.541 Before we start, let me draw your attention to our disclaimer. 00:00:19.541 -- 00:00:25.030 During this presentation, we may make forward-looking statements based on estimates, 00:00:25.030 -- 00:00:30.065 actual results, may differ materially depending on a number of factors as indicated 00:00:30.065 -- 00:00:35.089 in the disclaimer. I will now hand the conference call over to Josue Joniman. 00:00:35.089 -- 00:00:39.393 Thank you, Pablo. Good morning to everyone, and thank you for joining us. 00:00:39.393 -- 00:00:44.678 I know that today is a busy day for you, for the analysts covering our sector, so 00:00:44.678 -- 00:00:49.843 I'll try to be as executive as possible. Our presentation will be focused on 00:00:49.843 -- 00:00:55.107 first quarter performance, but at this stage we can't overlook the sharp turn of events 00:00:55.107 -- 00:01:00.562 in April, and how Repsol visualizes this complex environment. 00:01:00.562 -- 00:01:05.547 Of course, at the end, we will be available, as always, for Q&A sessions. 00:01:05.547 -- 00:01:10.372 Starting with the main messages, the first quarter of 2025 was marked by significant 00:01:10.372 -- 00:01:16.299 volatility driven by the headlines about OPIC's production policies, 00:01:16.299 -- 00:01:21.464 U.S. tariffs, and geopolitical tensions. Overall, the primary macro indicators were 00:01:21.464 -- 00:01:26.508 in line with our assumptions, enabling us a financial result co...