on ESSO (EPA:ES)
North Atlantic Energies: Asset impairment of €206 million in 2025
On April 20, 2026, North Atlantic Energies, formerly majority-owned by ExxonMobil, announced an impairment of industrial assets of 206 million euros as of December 31, 2025. This impairment is mainly due to the increase in its cost of capital, despite forecasts of improved cash flow thanks to optimization plans for its Gravenchon refinery.
The company, now operating as an independent refiner, saw its balance sheet reduced following dividend distributions. However, the group anticipates challenging crude oil supply conditions for 2026. The impacts of recent international events that occurred after the market close are not included in this impairment.
The annual financial report, scheduled for April 29, 2026, will analyze these potential impacts. A press release on the 2025 results will be published on April 22, 2026.
R. H.
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