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FILE PHOTO: The Cepsa logo in Madrid
March 16 (Archyde.com) – Cepsa will present its long-awaited strategic plan on March 30, in which it will lay the foundations to accelerate its transition process towards sustainable sources of energy, the group said on Wednesday, which in 2021 registered an increase of 53 % in its gross operating result (ebitda).
“The good results of 2021 represent a solid foundation for our plans to promote the energy transition,” said Maarten Wetselaar, CEO of Cepsa.
Wetselaar took the reins on January 1 with the mission of directing the transformation of the company, which, like other groups traditionally framed in the fossil fuel business, has begun a decarbonization process.
Cepsa highlighted the recent alliances with other companies to establish its presence in electric mobility, produce sustainable aviation fuels (SAF) and create a global network of service stations with renewable energy.
In 2021 the company ——which is not listed on the stock market and is owned by Mubadala (sovereign fund of Abu Dhabi) and the investment firm Carlyle— recorded an adjusted gross operating profit of 1,815 million euros, 53% more than in the previous year, in a context of increased fuel prices due to the reduction of the restrictions imposed by the COVID-19 pandemic.
The adjusted net profit was 310 million euros, which represents a significant improvement compared to the million euros of 2020, “thanks to the recovery in demand and the increase in crude oil prices,” the company explained in the note of press released on Wednesday.
Cepsa, which stopped buying Russian crude, natural gas and oil products the day the Russian invasion of Ukraine began, said on Wednesday that “it does not expect this position to change in the near future.”
“Cepsa has traditionally had very limited commercial activity in Russia and has currently stopped selling products in this country,” he added.
(Information by Tomás Cobos, edited by José Muñoz)