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Galp Energia reports a 25% increase in net profit for Q2 2025

Portuguese group Galp Energia announced an adjusted net profit of €373 million for Q2 2025, a 25% increase from the previous year, driven by higher hydrocarbon production in Brazil.

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Galp Energia, the Portuguese oil and gas company, reported positive financial results for Q2 2025. The group posted an adjusted net profit of €373 million, marking a 25% increase compared to the same quarter last year. This performance was supported by a significant rise in hydrocarbon production, particularly in Brazil.

Increase in oil and gas production

Between April and June, Galp’s oil and gas production rose by 6% compared to the previous year. Additionally, natural gas trading surged by 70%, reflecting the expansion of its activities in this sector. These results highlight the group’s diversification strategy, with a particular focus on international markets such as Brazil.

Performance of the first half of 2025

However, the overall performance for the first half of 2025 showed a slight decline in profitability. Adjusted net profit dropped by 9%, reaching €565 million. This decrease was mainly attributed to production shutdowns for maintenance operations conducted during the first quarter of the year.

The EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also recorded a slight 1% decline in Q2, amounting to €840 million. For the first half of the year, EBITDA fell by 16%, totaling €1.51 billion. Nevertheless, Galp has revised its forecast upwards, mainly due to the expected increase in liquefied natural gas (LNG) deliveries from the United States.

Increase in net debt

As of June 30, 2025, Galp Energia’s net debt increased by 22% compared to the previous year, reaching €1.4 billion. This rise is linked to investments aimed at supporting the group’s growth and diversification of its activities. Despite the increase in debt, the group remains optimistic about the remainder of the year.

In 2024, Galp reported an adjusted net profit of €961 million, a 4% decrease compared to 2023, when the group reached a record high of €1 billion.

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