CORRECTING and REPLACING: TotalEnergies SE: Third Quarter 2023: Main Indicators
17 Outubro 2023 - 5:17AM
Business Wire
Regulatory News:
This replaces the announcement made on October 17, 2023 at 8:37
AM due to the addition of one element in the release.
TotalEnergies SE: Third Quarter 2023: Main
Indicators
The main indicators, estimated financial information and key
elements impacting TotalEnergies’ (Paris:TTE) (LSE:TTE) (NYSE:TTE)
third quarter 2023 aggregates are shown below:
Main indicators
3Q23
2Q23
1Q23
4Q22
3Q22
€/$
1.09
1.09
1.07
1.02
1.01
Brent
($/b)
86.7
78.1
81.2
88.8
100.8
Average liquids price * (1)
($/b)
78.9
72.0
73.4
80.6
93.6
Average gas price * (1)
($/Mbtu)
5.47
5.98
8.89
12.74
16.83
Average LNG price ** (1)
($/Mbtu)
9.56
9.84
13.27
14.83
21.51
Variable Cost Margin, European
refining ***
($/t)
95.1
42.7
87.8
73.6
99.2
* Sales in $ / Sales in volume for consolidated affiliates. **
Sales in $ / Sales in volume for consolidated and equity
affiliates. *** This indicator represents the average margin on
variable costs realized by TotalEnergies’ European refining
business (equal to the difference between the sales of refined
products realized by TotalEnergies’ European refining and the crude
purchases as well as associated variable costs, divided by refinery
throughput in tons). (1) Does not take include oil, gas and LNG
trading activities, respectively.
Main elements impacting the quarter aggregates
- Hydrocarbon production is expected to be nearly 2.5 Mboe/d,
benefiting from the start-up of Absheron in Azerbaijan and the
effective entry into the Ratawi field (GGIP) in Iraq. The
Exploration & Production effective tax rate is expected to be
lower in the third quarter compared to the second quarter, notably
due to the lower seasonal relative weight of North Sea
production.
- The Integrated LNG result is expected to be in line with the
previous quarter, in an overall comparable environment.
- Integrated Power results are expected to be higher at nearly
$500 million.
- With a global refinery utilization rate of 84%, downstream
results will benefit from the increase in European refining
margins. It should be noted that the Port Arthur refinery in the
United Stated was impacted by an unplanned shutdown since
August.
2023 Sensitivities*
Change
Estimated impact on adjusted
net operating income
Estimated impact on cash flow
from operations
Dollar
+/- 0.1 $ per €
-/+ 0.1 B$
~0 B$
Average liquids price**
+/- 10 $/b
+/- 2.5 B$
+/- 3.0 B$
European gas price - NBP / TTF
+/- 2 $/Mbtu
+/- 0.4 B$
+/- 0.4 B$
Variable cost margin, European refining (VCM)
+/- 10 $/t
+/- 0.4 B$
+/- 0.5 B$
* Sensitivities are revised once per year upon publication of
the previous year’s fourth quarter results. Sensitivities are
estimates based on assumptions about TotalEnergies’ portfolio in
2023. Actual results could vary significantly from estimates based
on the application of these sensitivities. The impact of the $-€
sensitivity on adjusted net operating income is essentially
attributable to Refining & Chemicals. ** In a 80 $/b Brent
environment.
Disclaimer
The terms “TotalEnergies”, “TotalEnergies company” and “Company”
in this document are used to designate TotalEnergies SE and the
consolidated entities directly or indirectly controlled by
TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also
be used to refer to these entities or their employees. The entities
in which TotalEnergies SE directly or indirectly owns a
shareholding are separate and independent legal entities.
The data presented in this document is based on TotalEnergies’
internal preliminary reporting and is not audited. This data is not
intended to be a comprehensive summary of all items that will
affect TotalEnergies SE’s results or to provide an estimate of the
third quarter 2023 results. Actual results may vary. To the extent
permitted by law, TotalEnergies SE disclaims all liability from the
use of this data.
This document may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995,
notably with respect to the financial condition, results of
operations, business activities and industrial strategy of
TotalEnergies. This document may also contain statements regarding
the perspectives, objectives, areas of improvement and goals of
TotalEnergies, including with respect to climate change and carbon
neutrality (net zero emissions). An ambition expresses an outcome
desired by TotalEnergies, it being specified that the means to be
deployed do not depend solely on TotalEnergies. These
forward-looking statements may generally be identified by the use
of the future or conditional tense or forward-looking words such as
“envisions”, “intends”, “anticipates”, “believes”, “considers”,
“plans”, “expects”, “thinks”, “targets”, “aims” or similar
terminology. Such forward-looking statements included in this
document are based on economic data, estimates and assumptions
prepared in a given economic, competitive and regulatory
environment and considered to be reasonable by TotalEnergies as of
the date of this document. These forward-looking statements are not
historical data and should not be interpreted as assurances that
the perspectives, objectives or goals announced will be achieved.
They may prove to be inaccurate in the future, and may evolve or be
modified with a significant difference between the actual results
and those initially estimated, due to the uncertainties notably
related to the economic, financial, competitive and regulatory
environment, or due to the occurrence of risk factors, such as,
notably, the price fluctuations in crude oil and natural gas, the
evolution of the demand and price of petroleum products, the
changes in production results and reserves estimates, the ability
to achieve cost reductions and operating efficiencies without
unduly disrupting business operations, changes in laws and
regulations including those related to the environment and climate,
currency fluctuations, as well as economic and political
developments, changes in market conditions, loss of market share
and changes in consumer preferences, or pandemics such as the
COVID-19 pandemic. Additionally, certain financial information is
based on estimates particularly in the assessment of the
recoverable value of assets and potential impairments of assets
relating thereto. Neither TotalEnergies SE nor any of its
subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise. The information on risk factors that
could have a significant adverse effect on TotalEnergies’ business,
financial condition, including its operating income and cash flow,
reputation, outlook or the value of financial instruments issued by
TotalEnergies is provided in the most recent version of the
Universal Registration Document which is filed by TotalEnergies SE
with the French Autorité des Marchés Financiers and the annual
report on Form 20-F filed with the United States Securities and
Exchange Commission (“SEC”). Financial information by business
segment is reported in accordance with the internal reporting
system and shows internal segment information that is used to
manage and measure the performance of TotalEnergies. In addition to
IFRS measures, certain alternative performance indicators are
presented, such as performance indicators excluding certain
adjustment items (i.e., special items, inventory valuation effect
and effect of changes in fair value): adjusted operating income,
adjusted net operating income, adjusted net income). These
indicators are meant to facilitate the analysis of the financial
performance of TotalEnergies and the comparison of income between
periods. They allow investors to track the measures used internally
to manage and measure the performance of TotalEnergies. The
adjusted results (adjusted operating income, adjusted net operating
income, adjusted net income) are defined as replacement cost
results, adjusted for special items, excluding the effect of
changes in fair value. For further details on the adjustment items,
please refer to the last published earnings statement and notes to
the consolidated financial statements.
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