Portuguese oil company Galp earned nearly double in the first half of 2026 what it earned in the whole of 2021.
60% confidence
EconomyPortugal
Omissions
The comparison mixes two different profit metrics: the €812 million is Galp's H1 2026 reported (IFRS) net income, whereas the €457 million is Galp's full-year 2021 replacement-cost-adjusted (RCA) net income.
Galp's full-year 2021 REPORTED (IFRS) net profit was only €4 million (El País, Europapress), so on a like-for-like reported basis H1 2026 profit is far more than double the whole of 2021.
On a like-for-like adjusted (RCA) basis the increase is much smaller: H1 2026 adjusted net income was around €651 million versus €457 million for full-year 2021 (≈1.4×), i.e. not 'nearly double'.
The claim compares a half-year (H1 2026) with a full year (2021), which is not a like-for-like period.
No primary source (Galp's own results report) was located within the search budget; all figures come from news outlets citing Galp's results.
Sources
SecondaryRTP NotíciasO lucro da Galp aumentou 44%, para 812 milhões de euros, no primeiro semestre face ao período homólogo, impulsionado pelo aumento da produção de petróleo.
SecondaryObservadorOs lucros da Galp aumentaram 44% para 812 milhões de euros no primeiro semestre de 2026.
SecondaryJornal de NegóciosA Galp terminou os primeiros seis meses do ano com um lucro de 812 milhões de euros, um valor que representa uma subida de 44% face a igual período do ano anterior.
SecondaryEl PaísLa petrolera portuguesa Galp registró un beneficio neto de cuatro millones de euros en 2021, en contraste con las pérdidas de 551 millones [en 2020]. El beneficio neto ajustado por costes de reposición de la firma lusa alcanzó los 457 millones de euros, frente a las pérdidas de 42 millones en [2020].
SecondaryEuropa PressLa petrolera portuguesa Galp registró un beneficio neto de 4 millones de euros al cierre del ejercicio 2021, en contraste con las pérdidas del ejercicio anterior.