Spanish oil giant Repsol YPF SA. (REPYY.PK) reported 6.1% lower IFRS net income of 2.06 billion euros in 2012, compared with 2.19 billion euros in 2011, while annual net income from continuing operations rose 14.1% to 1.89 billion euros, from 1.66 billion euros last year.
At current cost of supply, excluding the change in value of the oil inventories that the company stocks as part of Spain's strategic reserve, net income went up 5.4% year-over-year to 2.05 billion euros, including YPF for the whole period.
Recurrent net income, excluding YPF, was 1.97 billion euros this year, a 24.5% growth, compared with 1.58 billion euros in the comparable period in 2011.
The firm clocked operating revenue of 59.59 billion euros for the year, up 26.6% from the year ago's 52.64 billion euros. Production climbed 11% during the year, with significant increases in Bolivia, Libya, the United States, Spain and Russia, according to the company.
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by RTT Staff Writer
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