Energean sales and profitability grow in FY24
By Iain Gilbert
Date: Thursday 23 Jan 2025
(Sharecast News) - Exploration and production firm Energean said on Thursday that FY24 marked another year of growth in both sales and profitability.
Energean said revenues rose 26% to $1.78bn, while adjusted underlying earnings grew 25% to $1.16bn, reflecting a strong performance from its core Israel operations.
The FTSE 250-listed group also noted that over the past year, it has agreed to more than $4.0bn in new long-term gas sales agreements in Israel, including a new $2.0bn binding terms agreement with Dalia Energy, underscoring its "proven success" in securing long-term contracts, bringing total contract values close to $20.0bn.
Energean also said it expects total production in FY25 to be roughly 120,000-130,000 barrels of oil per day, with continued growth in Israeli gas sales resulting in a 10% year-on-year increase in working interest production.
As of 0825 GMT, Energean shares were up 3.23% at 1,056.0p.
Reporting by Iain Gilbert at Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN