repsol sa on thursday said that it has revised its earnings and production outlook for the full year while lifting its dividend as its cash flow is boosted by higher commodity prices the spanish oilandgas player said it expects earnings before interest taxes depreciation and amortization on a current cost of supplies at around 67 billion euros 777 billion in 2021 a eur600million increase compared to previous guidance the production outlook was cut by 3 to around 580000 barrels of oil equivalent a day due to operational issues in the third quarter while the refining margin indicator is expected to be above 2 a barrel in the year and over 4bbl in the fourth quarter repsol also said the board will propose an increase in cash dividend by 5 to eur063 a share and has agreed to implement a share repurchase program of up to 35 million shares representing 229 of the groups share capital in the third quarter of the year the company swung to a profit of eur704 million from a loss of eur94 million in the previousyear period on an adjusted basis net profit came in at eur623 million above a companycompiled analysts consensus of eur582 million ebitda for the third quarter were eur195 billion up from eur882 million a year earlier production reached an average of 530000 boed down from 616000 boed the previous year our results have returned to prepandemic levels driven by our efficient management and the implementation of our strategic plan said chief executive josu jon imaz all business segments performed well in the quarter particularly exploration and production due to the upward trends in commodities prices according to repsol the company said it was able to take advantage of the increase in rawmaterial prices achieving positive cash flow across segments and reducing its net debt net debt is expected to stand around eur6 billion from eur68 billion at the end of 2020