Galp completes share purchase and adjusts capital to €737 million

Galp has completed the reduction of its share capital, which went from €753.5 million to €737 million, following the completion of the share buyback programme initiated in 2025.

The information was released on Monday, March 23, to the Portuguese Securities Market Commission (CMVM) in a statement dated Friday, March 20.

The operation resulted in the cancellation of 16,472,261 shares, leaving 737,022,898 shares in circulation.

The buyback, totaling €250 million, had been announced by the company on March 2, 2026.

In a statement to the market authority, Galp states that the capital reduction was approved by the Board of Directors as a direct consequence of the program’s initial objective — the reduction of share capital through the acquisition and cancellation of treasury shares.

Galp closed 2025 with a record adjusted net profit of €1.54Bn, a 20% increase compared to €961 million in 2024, the company announced on March 2, to the Portuguese Securities Market Commission (CMVM).

The result was supported by the growth in oil and gas production in Brazil and by natural gas supply and trading activity, which helped offset the fall in the price of Brent crude and the devaluation of the dollar.

Source: Jornal de Negócios; Credits: Galp.