Meteorologia

  • 19 MAIO 2024
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18º
MIN 12º MÁX 21º

TotalEnergies' profit rises 3% to $5.324 billion in Q1

TotalEnergies' profit rose to $5.721 billion (5.324 billion euros) in the first quarter of the year, up 3% compared to the same period in 2023, the French energy group announced today.

TotalEnergies' profit rises 3% to $5.324 billion in Q1
Notícias ao Minuto

11:35 - 26/04/24 por Lusa

Economia TotalEnergies

This net income was achieved despite the context of a "sharp drop" in gas prices, TotalEnergies explains in a statement.

However, the adjusted net income, which excludes non-recurring items, fell by 22% to 5.1 billion dollars, according to the cited note, which also explains that these values, as well as the 8.2 billion dollars of cash flow, are "in line with the ambitious goals for 2024".

The adjusted net operating income decreased by 20% in the period under analysis, to 5.6 billion dollars.

The behavior of this financial indicator was mainly due to the 41% drop registered in the liquefied natural gas (LNG) division, to 1.222 billion dollars and the 41% decrease in refining and chemicals, to 962 million dollars.

The loss observed in the hydrocarbon exploration and production activity was 4%, to 2.55 billion dollars, and in marketing and services the decrease was 9%, to 255 million dollars.

In the electricity division, operating income increased by 65% in the first three months of this year to 611 million, compared to the first quarter of last year.

Until March, hydrocarbon production was 2% lower than in the same months of last year, with a 5% decrease in the case of oil (1.322 million barrels per day) and a 1% increase for gas (equivalent to 1.139 million barrels of oil per day).

It is worth noting that in the first quarter of this year, the barrel of oil was traded, on average, at 83.2 dollars, that is, 3% more than in the same period of the previous year.

Based on these results, the Board of Directors of TotalEnergies decided to distribute, on account of the 2024 dividend, an advance of 0.79 euros per share, 7% more than in the previous year, and also authorized the purchase of treasury shares in the second quarter, in the equivalent amount to 2 billion dollars.

Read Also: Standard Bank Moçambique with record profits of 107.5 million in 2023 (Portuguese version)

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