Repsol Sa Sp/Adr (REPYY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and welcome to the first quarter 2026 results conference call. Today's conference will be conducted by Mr. Josillon Imath, CEO, and a brief introduction will be given by Mr. Pablo Banatine, Head of Investor Relations. I would now like to hand the call over to Mr. Banatine. Sir, you may begin. Thank you, operator. And good morning to everyone joining us today. Welcome to REPSO's first quarter 2026 results presentation. Today's conference call will be hosted by Joshua Yonimath, our chief executive officer, with other members of the executive team joining us as well. At the end of the presentation, we will be available for a Q&A session. Before we begin, let me remind you that during this presentation, we may make forward-looking statements based on estimates. Actual results may differ materially depending on a number of factors as indicated on our disclaimer. With that, I will hand the conference call over to Giorgio. Thank you, Pablo. Good morning and welcome to everyone. Last quarter, Mark has sold the start to the first year of our update 2026-2028 strategic roadmap. that we presented six weeks ago in March here in Madrid, and most of you were present here. This strategic roadmap is built on three clear pillars. Increase cash flow generation, higher shareholder returns, and discipline capital allocation, always preserving the strength of our balance sheet. Since then, since our capital markets day, the escalation of the conflict in the Middle East has had global implications for our industry, increasing volatility across commodities and reinforcing uncertainty around the near-term economic outlook. Our market environment has since become more complex, shifting from concerns about oversupply risk to a very different context of actual physical distractions. The ...