UPDATE 2-Galp Q1 adjusted profit falls 55 pct, beats f'cast

* Galp Q1 net profit falls 55 pct to 49 mln euros

* Beats forecast

* Refining margin down 8 percent after fire shutdown

(Updates with CEO on financing)

LISBON, May 13 (Reuters) - Portuguese fuel and oil company Galp Energia (GALP.LS: Quote, Profile, Research) on Wednesday posted a 55 percent fall in adjusted first-quarter net profit to beat market expectations, after a six-week refinery shutdown affected refining margins.

Galp said in a statement net profit fell to 49 million euros ($66.88 million). Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) fell over 35 percent to 151 million euros. The figures are adjusted to reflect changes in the company's stocks of crude.

Analysts polled by Reuters forecast, on average, an adjusted net profit of 41 million euros and EBITDA of 136 million euros.

Galp said the refining margin dropped 8 percent from a year earlier to $2.8 per barrel due to a fire in mid-January at its Sines refinery, which accounts for 70 percent of all crude processed in Portugal.

The shutdown for repairs, which lasted through the end of February, made the total volume of oil processed by Galp slump about 44 percent compared to a year ago.