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Moeve reports 481% increase in net profit to 1.43 billion euros
Moeve, the energy company formerly known as Cepsa, reported a significant increase in financial results for the first nine months of 2026. The company achieved a net profit of 1.43 billion euros, representing a 481% increase compared to the 246 million euros recorded during the same period in 2025.
Adjusted net profit rose 140% to 1.134 billion euros, while adjusted EBITDA reached 2.409 billion euros, nearly doubling the 1.192 billion euros from the previous year. These results were driven by improved refining margins and higher oil prices amid geopolitical tensions in the Middle East. The energy division was the primary driver, with an adjusted EBITDA of 2.048 billion euros.
Moeve also reached a record investment level of 885 million euros, with 93% of this capital directed toward Spain. A significant portion, totaling 612 million euros, was allocated to energy transition projects, including the construction of a major green hydrogen project in Andalusia. These figures follow the termination of merger negotiations with the Portuguese company Galp.
Entities
Carlyle · Galp · Maarten Wetselaar · Moeve · Mubadala
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 2 SOURCES] Adjusted EBITDA reached 2.409 billion euros. www.economiadigital.es
- [○ 1 SOURCE] 69% of investments were allocated to energy transition projects. www.elcorreoweb.es
- [● 3 SOURCES] IFRS net profit reached 1.430 billion euros. www.economiadigital.es · www.elcorreoweb.es
- [○ 1 SOURCE] 93% of total investments were made in Spain. www.elcorreoweb.es
- [● 2 SOURCES] The average refining margin was 17 dollars per barrel. www.economiadigital.es
- [● 2 SOURCES] Total investments reached approximately 885 to 890 million euros. www.elcorreoweb.es
- [● 3 SOURCES] Moeve's adjusted net profit for the first nine months of 2026 was 1.134 billion euros. www.economiadigital.es · www.elcorreoweb.es
- [● 2 SOURCES] The adjusted net profit represents a 140% increase compared to the same period in 2025. www.economiadigital.es