Wintershall Dea profits double in Q2 on high prices
Germany's Wintershall Dea saw its core earnings (EBITDAX) soar to €1.83bn ($1.9bn) in the second quarter, up 187% year/year on the back of high energy prices, the company reported on July 26.
Adjusted net income came in at €608mn, up 262% yr/yr, while free cash flow ballooned to €1.02bn, from €398mn. Wintershall ended the three-month period with €110mn in credit, versus a debt of €3.83bn a year earlier.
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Production averaged 623,000 barrels of oil equivalent/day, up 2% yr/yr, of which 73% was natural gas.