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Galp Energia

  GALP PL

Integrated Oils, Other Energies, Explo...
 /  Portugal 
2010 closes a development cycle with Tupi's start-up
Summary Key Data
  12/08A
12/09A
12/10E
12/11E
12/12E
AlphaValue P/E (x) 22.2 38.9
Dividend yield (%) 2.50 1.99
EV/EBITDA (x) 14.4 21.6
AlphaValue EPS (€) 0.58 0.26
Dividend (€) 0.32 0.20
Sales (€M) 15,086 12,008
EBITDA (€M) 872 489
Attributable net profit (€M) 117 347
ROE (after tax) (%) 5.15 15.3
ROCE (%) 2.21 6.51
Gearing (%) 59.2 80.3
Next Div. Indic € 0.20 payment
Target
Price (€) 12.3
Market Cap (€M) 10,187
Perf. 1W: -5.51 %
Perf. 1M: -1.17 %
Perf. 3M: 5.37 %
Perf Ytd: 1.57 %
Rating
  • Strong momentum corresponding to a continuous and overall positive moving average trend confirmed by volumes
  • Relatively good momentum corresponding to a positively-oriented moving average, but offset by an overbought pattern or lack of confirmation from volumes
  • Relatively unfavorable momentum with a neutral or negative moving average trend, but offset by an oversold pattern or lack of confirmation from volumes
  • Strongly negative momentum corresponding to a continuous and overall negative moving average trend confirmed by volumes
VALUE
RISK
GOVERNANCE
RANKING
Best
Worst
Businesses & Trends
Galp is the result of the merger between Petrogal and Gas de Portugal, a merger that is gradually becoming a fully-integrated energ... Read More
Money Making
Whereas G&P is key and clearly an earnings stabiliser (25% of group operating profit in 2010-2012), the E&P division should again ... Read More
Valuation
Progressive refining margin recovery, intensive exploration/appraisal drilling programme and Brazilian exposure support Galp's gro... Read More
Analyst: Alexandre Andlauer
Concepts
Business concepts
  • Asset based
  • Government power plays
  • Regulation & tax drivers
Investment Concepts
  • Margin expansion
  • Execution risk
  • Asset valuation play
Story Trigger
  • M&A related
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