EMEA News
Cepsa Posts Strong Half Year Results
Spanish energy company Cepsa saw earning rise by nearly 50% in its first, half-year results.
Ebitda (earnings before interest, tax, depreciation and amortisation) stood at EUR 1.1 billion ($1.2bn) compared to EUR 742 million in the first half last year, a rise of 48%, the company said.
The company attributed the rise to a "favorable market environment for the energy business and stronger sales in its chemical business".
The company said that it continues to deliver on its positive motion strategy which is designed to take the company through the energy transition.
Part of the change involves investing in biofuels and green hydrogen. Cepsa together with Bio-Oils is investing in a biofuels plant in southern Spain.
The plant's "flexible, annual production of 500,000 metric tonnes of SAF and HVO" from organic waste will provide "an immediate, circular economy solution to decarbonise land, sea and air transport", according to Cepsa.
The plant is set to begin operations in 2026.
