TotalEnergies: 2024 adjusted net income down 21%
(CercleFinance.com) - On Tuesday TotalEnergies posted a 21% drop in net income for FY 2024, in a market environment deemed 'less favourable' than in 2023.
Europe's second-largest oil company by market capitalisation, behind Shell, posted adjusted net income of $18.3bn last year, compared with $21.4bn a year earlier.
For Q4 alone, the energy group reported an 8% increase in adjusted net income to $4.4bn, thanks to the strong performance of its LNG and power activities.
The consensus was looking for $4.2bn.
Analysts at RBC, in a note, hailed the results as "resilient" compared with market forecasts.
Hydrocarbon production rose by 1% to 2.43 million barrels of oil equivalent per day in Q4, benefiting in particular from the ramp-up of recently launched projects.
For 2025, Total says it expects to increase production by more than 3%, supported by the ramp-up of projects launched in 2024, in the Gulf of Mexico and Brazil in particular, after a 2% decline in 2024.
The group is proposing a dividend of E3.22 per share for 2024, up 7%, with share buybacks of two billion dollars per quarter for 2025, a level that will be continued under 'reasonable' market conditions.
It thus confirms its policy of returning more than 40% of cash flow to shareholders this year.
In the first hour of trading, Total shares were up 1.2%, outperforming the Paris market (down 0.3%) and the European oil & gas sector index (up 0.1%).
Copyright (c) 2025 CercleFinance.com. All rights reserved.
Europe's second-largest oil company by market capitalisation, behind Shell, posted adjusted net income of $18.3bn last year, compared with $21.4bn a year earlier.
For Q4 alone, the energy group reported an 8% increase in adjusted net income to $4.4bn, thanks to the strong performance of its LNG and power activities.
The consensus was looking for $4.2bn.
Analysts at RBC, in a note, hailed the results as "resilient" compared with market forecasts.
Hydrocarbon production rose by 1% to 2.43 million barrels of oil equivalent per day in Q4, benefiting in particular from the ramp-up of recently launched projects.
For 2025, Total says it expects to increase production by more than 3%, supported by the ramp-up of projects launched in 2024, in the Gulf of Mexico and Brazil in particular, after a 2% decline in 2024.
The group is proposing a dividend of E3.22 per share for 2024, up 7%, with share buybacks of two billion dollars per quarter for 2025, a level that will be continued under 'reasonable' market conditions.
It thus confirms its policy of returning more than 40% of cash flow to shareholders this year.
In the first hour of trading, Total shares were up 1.2%, outperforming the Paris market (down 0.3%) and the European oil & gas sector index (up 0.1%).
Copyright (c) 2025 CercleFinance.com. All rights reserved.