This is the largest net profit in its history. The French group TotalEnergies announced, Wednesday, February 8, a result of 20.5 billion dollars (19.07 billion euros) for the year 2022, boosted by gas and oil prices, i.e. one of the best ever achieved within of the CAC40.
Without the accounting losses linked to its gradual withdrawal from Russiafor an amount of nearly 15 billion dollars, the company’s adjusted net profit (which excludes exceptional items) amounted to 36.2 billion dollars, a level likely to revive once once more the debates on the “superprofits” of the energy sector, especially in times of war.
Inflation linked to the war in Ukraine
Like its American and British competitors, the French company has fully benefited from the rise in the price of hydrocarbons, and in particular gas, following the war in Ukraine, which caused the closure of Russian gas pipelines and a race for liquefied natural gas. (LNG) to replace it throughout Europe.
In the fourth quarter, the group thus once once more benefited from a “favorable environment as well as the increase in its hydrocarbon production (+5%) and its LNG sales (+22%)”, commented the CEO of the group, Patrick Pouyanné, in a press release.
In 2022, “the company has taken full advantage of its global LNG portfolio”, added the CEO.
Given its results, TotalEnergies will grant its shareholders a total dividend of 3.81 euros per share for the year 2022, including 1 euro in exceptional dividend, already paid in December 2022.
With AFP
