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The primary indicators, estimated monetary info and key parts impacting TotalEnergies’ fourth quarter 2022 aggregates are proven beneath:
Primary indicators 4Q22 3Q22 2Q22 1Q22 4Q21 EUR/$ 1,02 1,01 1,06 1,12 1,14 Brent ($/b) 88,8 100,8 113,9 102,2 79,8 Common liquids value* (1) ($/b) 80,6 93,6 102,9 90,1 72,6 Common fuel value* (1) ($/Mbtu) 12,74 16,83 11,01 12,27 11,38 Common LNG value** (1) ($/Mbtu) 14,83 21,51 13,96 13,60 13,12 Variable Price Margin, European refining*** ($/t) 73,6 99,2 145,7 46,3 16,7
* Gross sales in $ / Gross sales in quantity for consolidated associates.
** Gross sales in $ / Gross sales in quantity for consolidated and fairness associates.
*** This indicator represents the typical margin on variable prices realized by TotalEnergies’ European refining enterprise (equal to the distinction between the gross sales of refined merchandise realized by TotalEnergies’ European refining and the crude purchases in addition to related variable prices, divided by refinery throughput in tons).
(1) Doesn’t take embrace oil, fuel and LNG buying and selling actions, respectively.
Primary parts impacting the quarter aggregates
-- Money move from LNG enterprise and fuel buying and selling actions is anticipated to be greater than earlier quarter, regardless of decrease fuel costs, benefiting from our built-in portfolio. -- Hydrocarbon manufacturing is anticipated to exceed 2.8 Mboe/d this quarter, up 5% over the quarter, benefiting from challenge ramp-ups (Mero 1, Ikike) and the restart of Kashagan manufacturing. -- Downstream outcomes are anticipated to stay sturdy, with out replicating the performances reached over the 2 earlier quarters, which benefited from a extremely favorable setting. -- In keeping with the relevant accounting requirements, the UK Power Income Levy (EPL) might be reported within the fourth quarter adjusted outcomes for 0.4 B$, excluding a 0.3 B$ adverse deferred tax influence accounted as particular merchandise. The EPL influence within the 2022 adjusted outcomes is due to this fact anticipated to be 1 B$. -- The EU solidarity contribution for 2022, together with the electrical energy manufacturing infra-marginal earnings contribution for 2022, might be reported within the fourth quarter as a part of particular objects for a complete of 1.1 B$. -- The impairment associated to the choice to not fairness account for the 19.4% stake in Novatek beginning December 31, 2022 is estimated to be round 4 B$ after taking into consideration the ruble evolution. -- Share buybacks amounted to 2 B$ within the fourth quarter 2022 and may proceed over the primary quarter 2023 on the similar tempo.
2022 Sensitivities*
Estimated influence Estimated influence on adjusted internet on money move from Change working earnings operations Greenback +/- 0.1 $ per EUR -/+ 0.1 B$ 0 B$ Common liquids value** +/- 10 $/b +/- 2.7 B$ +/- 3.2 B$ European fuel value - NBP / TTF*** +/- 2 $/Mbtu +/- 0.5 B$ +/- 0.5 B$ Variable value margin, European refining (VCM) +/- 10 $/t +/- 0.4 B$ +/- 0.5 B$
* Sensitivities are revised as soon as per yr upon publication of the earlier yr’s fourth quarter outcomes. Sensitivities are estimates primarily based on assumptions about TotalEnergies’ portfolio in 2022. Precise outcomes may differ considerably from estimates primarily based on the appliance of those sensitivities. The influence of the $-EUR sensitivity on adjusted internet working earnings is basically attributable to Refining & Chemical compounds.
Sensitivity to European fuel value has been exceptionally up to date throughout third quarter (see ***).
** In a 60 $/b Brent setting.
*** Sensitivity together with UK Power Income Levy.
Sensitivity +/- 0.4 B$ beginning 3Q 2022, associated to UK and Norway taxes.
Disclaimer
The phrases “TotalEnergies”, “TotalEnergies firm” and “Firm” on this doc are used to designate TotalEnergies SE and the consolidated entities instantly or not directly managed by TotalEnergies SE. Likewise, the phrases “we”, “us” and “our” can also be used to refer to those entities or their staff. The entities by which TotalEnergies SE instantly or not directly owns a shareholding are separate and unbiased authorized entities.
The info offered on this doc relies on TotalEnergies’ inner preliminary reporting and isn’t audited. This knowledge will not be meant to be a complete abstract of all objects that can have an effect on TotalEnergies SE’s outcomes or to offer an estimate of the fourth quarter 2022 outcomes. Precise outcomes could differ. To the extent permitted by regulation, TotalEnergies SE disclaims all legal responsibility from using this knowledge.
This doc could comprise forward-looking statements throughout the which means of the Non-public Securities Litigation Reform Act of 1995, notably with respect to the monetary situation, outcomes of operations, enterprise actions and industrial technique of TotalEnergies. This doc can also comprise statements relating to the views, goals, areas of enchancment and objectives of TotalEnergies, together with with respect to local weather change and carbon neutrality (internet zero emissions). An ambition expresses an consequence desired by TotalEnergies, it being specified that the means to be deployed don’t rely solely on TotalEnergies. These forward-looking statements could usually be recognized by way of the longer term or conditional tense or forward-looking phrases resembling “envisions”, “intends”, “anticipates”, “believes”, “considers”, “plans”, “expects”, “thinks”, “targets”, “goals” or comparable terminology. Such forward-looking statements included on this doc are primarily based on financial knowledge, estimates and assumptions ready in a given financial, aggressive and regulatory setting and regarded to be affordable by TotalEnergies as of the date of this doc.
These forward-looking statements usually are not historic knowledge and shouldn’t be interpreted as assurances that the views, goals or objectives introduced might be achieved. They could show to be inaccurate sooner or later, and will evolve or be modified with a big distinction between the precise outcomes and people initially estimated, because of the uncertainties notably associated to the financial, monetary, aggressive and regulatory setting, or because of the incidence of danger elements, resembling, notably, the value fluctuations in crude oil and pure fuel, the evolution of the demand and value of petroleum merchandise, the modifications in manufacturing outcomes and reserves estimates, the flexibility to realize value reductions and working efficiencies with out unduly disrupting enterprise operations, modifications in legal guidelines and laws together with these associated to the setting and local weather, foreign money fluctuations, in addition to financial and political developments, modifications in market circumstances, lack of market share and modifications in client preferences, or pandemics such because the COVID-19 pandemic. Moreover, sure monetary info relies on estimates significantly within the evaluation of the recoverable worth of belongings and potential impairments of belongings relating thereto.
Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to replace publicly any forward-looking info or assertion, goals or developments contained on this doc whether or not on account of new info, future occasions or in any other case. The knowledge on danger elements that would have a big antagonistic impact on TotalEnergies’ enterprise, monetary situation, together with its working earnings and money move, popularity, outlook or the worth of monetary devices issued by TotalEnergies is supplied in the newest model of the Common Registration Doc which is filed by TotalEnergies SE with the French Autorité des Marchés Financiers and the annual report on Type 20-F filed with america Securities and Trade Fee (“SEC”).
Monetary info by enterprise section is reported in accordance with the interior reporting system and exhibits inner section info that’s used to handle and measure the efficiency of TotalEnergies. Along with IFRS measures, sure various efficiency indicators are offered, resembling efficiency indicators excluding sure adjustment objects (i.e., particular objects, stock valuation impact and impact of modifications in honest worth) -adjusted internet working earnings, adjusted internet earnings). These indicators are supposed to facilitate the evaluation of the monetary efficiency of TotalEnergies and the comparability of earnings between intervals. They permit traders to trace the measures used internally to handle and measure the efficiency of TotalEnergies. The adjusted outcomes (adjusted internet working earnings, adjusted internet earnings) are outlined as substitute value outcomes, adjusted for particular objects, excluding the impact of modifications in honest worth. For additional particulars on the adjustment objects, please consult with the final revealed earnings assertion and notes to the consolidated monetary statements.
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TotalEnergies
SOURCE: TOTALENERGIES SE Copyright Enterprise Wire 2023
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