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TotalEnergies(TTE) - 2022 Q4 - Annual Report
2023-03-23 16:00
Financial Performance - In 2022, TotalEnergies generated cash flow from operating activities of $47.4 billion and reported IFRS net income of $20.5 billion, with an adjusted net income of $36.2 billion, representing a return on equity of 32% and a return on capital employed of 28%[34]. - TotalEnergies reported sales of $280,999 million in 2022, a 36% increase compared to $205,863 million in 2021[68]. - Adjusted EBITDA for 2022 was $71,578 million, up 69% from $42,302 million in 2021[66]. - Net income attributable to TotalEnergies was $20,526 million in 2022, compared to $16,032 million in 2021, reflecting a 28% increase[66]. - Cash flow from operating activities reached $47,367 million in 2022, compared to $30,410 million in 2021[65]. - TotalEnergies' cash flow before working capital changes was $45,729 million in 2022, a 57% increase from $29,140 million in 2021[73]. - The company reported a net cash flow of $29,426 million in 2022, up from $15,833 million in 2021, driven by increased operating cash flow[77]. - TotalEnergies' average daily production in Russia for 2022 included 65 kb/d of liquids and 2,165 Mcf/d of natural gas, accounting for approximately 17% of its total hydrocarbon production[212][214]. Segment Performance - The integrated Gas, Renewables & Power segment reported IFRS net income of $9.6 billion and cash flow from operating activities of $9.7 billion, with nearly 17 GW of gross renewable capacity installed by the end of 2022[35]. - The Exploration & Production segment achieved IFRS net income of $5.1 billion and cash flow from operating activities of $27.7 billion, contributing $26.0 billion to the Company's net cash flow in 2022[36]. - Downstream reported IFRS net income of $8.2 billion and cash flow from operating activities of $11.8 billion, supported by a refinery utilization rate of 82%[37]. - The integrated Gas, Renewables & Power (iGRP) segment's external sales in 2022 were $48,753 million, a 59% increase from $30,704 million in 2021[105]. - The Exploration & Production (EP) segment's external sales in 2022 were $9,942 million, a 37% increase from $7,246 million in 2021, while net operating income decreased by 36% to $5,108 million[122]. - The Downstream segment's external sales reached $222,279 million in 2022, up 32% from $167,888 million in 2021, with adjusted net operating income increasing to $8,852 million[130]. - Total refinery throughput in 2022 was 1,472 kb/d, up from 1,180 kb/d in 2021, with a utilization rate of 82%[135]. Investments and Capital Expenditures - TotalEnergies plans to allocate net investments of $16-18 billion in 2023, including $5 billion dedicated to low-carbon energies[50]. - Total expenditures in 2022 were $19,802 million, with 54% allocated to the Exploration & Production segment, 33% to integrated Gas, Power & Renewables, 7% to Refining & Chemicals, and 6% to Marketing & Services[172]. - TotalEnergies' capital expenditures in 2022 included approximately 60% for additions to intangible assets and property, plant, and equipment[185]. Shareholder Returns - TotalEnergies confirmed a shareholder return policy for 2023 targeting a cash payout of between 35% and 40%, including a 7.2% increase in interim dividends to €0.74/share and share buybacks of $2 billion[51]. - Fully-diluted earnings per share rose to $7.85 in 2022 from $5.92 in 2021, indicating improved shareholder returns[71]. - TotalEnergies bought back 140,207,743 shares in 2022, representing 5.35% of the share capital, compared to 1.4% in 2021[71]. Market Conditions and Pricing - The average Brent price increased by 43% to $101.3/b in 2022 from $70.9/b in 2021[67]. - TotalEnergies' average gas price realization rose by 99% to $13.15/Mbtu in 2022 from $6.60/Mbtu in 2021[67]. - The variable cost margin for Refining Europe was $94.1/t in 2022, significantly higher than $10.5/t in 2021[67]. - The company anticipates refining margins in Europe to remain supported by the effects of the European embargo on Russian petroleum products[46]. Strategic Initiatives - TotalEnergies intends to spin off its affiliate, TotalEnergies EP Canada, by listing it on the Toronto stock exchange, retaining a 30% stake and distributing 70% of shares to shareholders[52]. - TotalEnergies has committed to halting all purchases of Russian oil and petroleum products by the end of 2022[204]. - The company has gradually suspended its activities in Russia that do not contribute to the security of Europe's energy supply[203]. Impairments and Financial Adjustments - The company recorded an impairment of $4.1 billion related to the Arctic LNG 2 project as of March 31, 2022, due to risks from international sanctions[197]. - TotalEnergies recorded a $3.1 billion impairment charge in Q3 2022 primarily due to the impact of international sanctions on its Novatek stake[205]. - For the full year 2022, TotalEnergies reported a total impairment charge of $14.8 billion related to its operations in Russia[209]. - The company’s total adjustments to net income in 2022 amounted to ($15,671) million, primarily due to impairments related to Russia and other exceptional provisions[69]. Balance Sheet and Debt Management - The company's cash and cash equivalents at the end of 2022 were $33,026 million, an increase from $21,342 million at the end of 2021[170]. - TotalEnergies' non-current financial debt decreased to $45,264 million at year-end 2022 from $49,512 million at year-end 2021[176]. - The net-debt-to-capital ratio was 7.0% as of December 31, 2022, a decrease from 15.3% at year-end 2021[183]. - Shareholders' equity at year-end 2022 was $114,570 million, slightly down from $114,999 million at year-end 2021[178].
TotalEnergies(TTE) - 2022 Q4 - Earnings Call Transcript
2023-02-08 18:36
TotalEnergies SE (NYSE:TTE) Q4 2022 Earnings Conference Call February 8, 2023 5:00 AM ET Company Participants Renaud Lions - SVP, IR Thierry Pflimlin - President, Marketing & Services Patrick Pouyanne - Chairman, CEO & President Jean-Pierre Sbraire - CFO Conference Call Participants Oswald Clint - Sanford C. Bernstein & Co. Christyan Malek - JPMorgan Chase & Co. Irene Himona - Societe Generale Amy Wong - Crédit Suisse Christopher Kuplent - Bank of America Merrill Lynch Lucas Herrmann - BNP Paribas Exane Hen ...
TotalEnergies(TTE) - 2022 Q3 - Earnings Call Transcript
2022-10-27 15:52
TotalEnergies SE (NYSE:TTE) Q3 2022 Earnings Conference Call October 27, 2022 7:30 AM ET Company Participants | --- | --- | |----------------------------|-----------------------------------------------| | | | | | Jean-Pierre Sbraire - Chief Financial Officer | | | Conference Call Participants | | | Irene Himona - Societe Generale | | | Michele Della Vigna - Goldman Sachs | | | Martijn Rats - Morgan Stanley | | | Christopher Kuplent - Bank of America | | Oswald Clint - Bernstein | | | Lydia Rainforth - Barcl ...
TotalEnergies (TTE) Investor Presentation - Slideshow
2022-10-01 20:56
TotalEnergies TotalEnergies Energy Outlook 2022 Energy trends since 2000: transition has started GDP growth decoupled from total energy demand and CO2 emissions growth CAGR 2000/2019 CO2 emissions Total energy demand Natural gas demand Renewables demand Coal demand Electricity demand GDP 3,5% 3,2% 2,7% 2,5% 2,6% 2,0% 1,9% 1,1% Oil demand Energy int. gains 1,5% 100 110 120 130 140 150 160 170 180 190 200 90 Index of key indicators 2000=100 Power fastest growing energy, oil slowest one Coal growth, triggered ...
TotalEnergies(TTE) - 2022 Q3 - Quarterly Report
2022-09-29 16:00
Transaction details Exhibit 99.1 Disclosure of Transactions in Own Shares Paris, September 05, 2022 – In accordance with the authorization given by the ordinary shareholders' general meeting on May 25, 2022 to trade on its shares and pursuant to applicable law on share repurchase, TotalEnergies SE (LEI: 529900S21EQ1BO4ESM68) declares the following purchases of its own shares (FR0000120271) from August 29 to September 02, 2022: | Transaction date | Total daily | Daily weighted average purchase | Amount of | ...
TotalEnergies(TTE) - 2022 Q2 - Earnings Call Transcript
2022-07-29 05:31
TotalEnergies SE (NYSE:TTE) Q2 2022 Earnings Conference Call July 28, 2022 7:30 AM ET Company Participants | --- | |------------------------------------------------------------------------------------------| | | | Patrick Pouyanné - Chief Executive Officer Jean-Pierre Sbraire - Chief Financial Officer | | Conference Call Participants | | Christyan Malek - JPMorgan | | Irene Himona - Societe Generale | | Lydia Rainforth - Barclays | | Martijn Rats - Morgan Stanley | | Lucas Herrmann - BNP | | Biraj Borkhatar ...
TotalEnergies(TTE) - 2022 Q2 - Quarterly Report
2022-07-27 16:00
[Operating and Financial Review and Prospects](index=1&type=section&id=OPERATING%20AND%20FINANCIAL%20REVIEW%20AND%20PROSPECTS) This section provides a comprehensive review of the company's financial performance and operational highlights [Key Figures](index=1&type=section&id=A.%20KEY%20FIGURES) In the second quarter of 2022, TotalEnergies reported substantial year-over-year growth across key financial metrics, driven by a sharp increase in energy prices Q2 & 1H 2022 Key Financial Figures (in millions of dollars) | Indicator | 2Q22 | 1H22 | vs 1H21 | | :--- | :--- | :--- | :--- | | Sales | 74,774 | 143,380 | +58% | | Adjusted EBITDA | 18,737 | 36,161 | x2.1 | | Adjusted net operating income | 10,500 | 19,958 | x2.7 | | Net income (TotalEnergies share) | 5,692 | 10,636 | +92% | | Cash flow from operating activities | 16,284 | 23,901 | +82% | | Net investments | 4,895 | 7,798 | +9% | Q2 & 1H 2022 Environmental & Price Indicators | Indicator | 2Q22 | 1H22 | vs 1H21 | | :--- | :--- | :--- | :--- | | Brent ($/b) | 113.9 | 107.9 | +66% | | Average price of liquids ($/b) | 102.9 | 96.3 | +61% | | Average price of gas ($/Mbtu) | 11.01 | 11.65 | x2.8 | | Average price of LNG ($/Mbtu) | 13.96 | 13.77 | x2.2 | | VCM Refining Europe ($/t) | 145.7 | 101.0 | x13.3 | Q2 & 1H 2022 Hydrocarbon Production | Production (thousand barrels of oil equivalent per day) | 2Q22 | 1H22 | vs 1H21 | | :--- | :--- | :--- | :--- | | Total Hydrocarbon | 2,738 | 2,791 | -0.5% | | Oil (including bitumen) (thousand barrels per day) | 1,268 | 1,287 | +2% | | Gas (thousand barrels of oil equivalent per day) | 1,470 | 1,504 | -2% | - Hydrocarbon production in Q2 2022 was stable year-on-year but decreased by **4%** compared to Q1 2022, primarily due to planned maintenance, production cuts in Nigeria and Libya, and the end of the Bongkot North license in Thailand[22](index=22&type=chunk) [Analysis of Business Segment Results](index=4&type=section&id=B.%20ANALYSIS%20OF%20BUSINESS%20SEGMENT%20RESULTS) All business segments reported strong year-over-year growth in Q2 2022, driven by high energy prices and improved margins [Integrated Gas, Renewables & Power (iGRP)](index=5&type=section&id=B.1.%20Integrated%20Gas%2C%20Renewables%20%26%20Power%20segment%20%28iGRP%29) The iGRP segment's adjusted net operating income nearly tripled year-over-year to **$2.6 billion** in Q2 2022, driven by higher LNG prices, strong performance in gas and electricity trading, and a growing contribution from renewables iGRP Q2 2022 Financial Results (in millions of dollars) | Indicator | 2Q22 | 2Q21 | Change | | :--- | :--- | :--- | :--- | | Adjusted net operating income | 2,555 | 891 | x2.9 | | Operating cash flow (DACF) | 2,360 | 904 | x2.6 | - Total LNG sales rose **11%** YoY in Q2 2022 to **11.7 million tons**, largely due to increased spot purchases to maximize the use of the Company's regasification capacity in Europe[32](index=32&type=chunk)[34](index=34&type=chunk) - Gross installed renewable power generation capacity reached **11.6 GW** at the end of Q2 2022, a **40%** increase YoY, including a **0.9 GW** increase over the quarter, partly from the Al Kharsaah solar project in Qatar[35](index=35&type=chunk)[38](index=38&type=chunk) [Exploration & Production (E&P)](index=7&type=section&id=B.2.%20Exploration%20%26%20Production%20segment) The E&P segment's adjusted net operating income more than doubled to **$4.7 billion** in Q2 2022 compared to Q2 2021, propelled by the sharp increase in oil and gas prices E&P Q2 2022 Financial Results (in millions of dollars) | Indicator | 2Q22 | 2Q21 | Change | | :--- | :--- | :--- | :--- | | Adjusted net operating income | 4,719 | 2,213 | x2.1 | | Operating cash flow (DACF) | 7,383 | 4,262 | +73% | - Compared to Q1 2022, adjusted net operating income fell by **$296 million** due to lower production and the impact of sanctions on Russian assets[45](index=45&type=chunk) [Refining & Chemicals](index=8&type=section&id=B.4.%20Refining%20%26%20Chemicals%20segment) The Refining & Chemicals segment delivered exceptionally strong results, with adjusted net operating income surging **5.4 times** year-over-year to **$2.8 billion** in Q2 2022 Refining & Chemicals Q2 2022 Financial Results (in millions of dollars) | Indicator | 2Q22 | 2Q21 | Change | | :--- | :--- | :--- | :--- | | Adjusted net operating income | 2,760 | 511 | x5.4 | | Operating cash flow (DACF) | 2,963 | 753 | x3.9 | - Total refinery throughput increased by **47%** YoY to **1,575 thousand barrels per day**, with the utilization rate rising to **88%** from **58%** in Q2 2021, reflecting a recovery in demand and the restart of several refineries[49](index=49&type=chunk)[58](index=58&type=chunk) [Marketing & Services](index=10&type=section&id=B.5.%20Marketing%20%26%20Services%20segment) The Marketing & Services segment reported a **12%** year-over-year increase in adjusted net operating income to **$466 million** in Q2 2022 Marketing & Services Q2 2022 Financial Results (in millions of dollars) | Indicator | 2Q22 | 2Q21 | Change | | :--- | :--- | :--- | :--- | | Adjusted net operating income | 466 | 417 | +12% | | Operating cash flow (DACF) | 585 | 707 | -17% | - Sales of petroleum products were stable YoY, as the recovery in aviation and network activities worldwide compensated for lower sales to commercial and industrial customers, particularly in Europe[61](index=61&type=chunk) [TotalEnergies Corporate Results](index=11&type=section&id=C.%20TOTALENERGIES%20RESULTS) Company-wide net income for Q2 2022 was **$5.7 billion**, a **2.6-fold** increase YoY, while adjusted net income reached **$9.8 billion** Q2 & 1H 2022 Net Income (in millions of dollars) | Indicator | 2Q22 | 1H22 | vs 1H21 | | :--- | :--- | :--- | :--- | | Net income (TotalEnergies share) | 5,692 | 10,636 | +92% | | Adjusted net income | 9,796 | 18,773 | x2.9 | - A new impairment charge of **$3.5 billion** was recorded in Q2 2022, mainly related to the potential impact of international sanctions on the value of the company's Novatek stake[66](index=66&type=chunk) - The company repurchased **36.1 million shares** for **$2 billion** in Q2 2022 as part of its shareholder return policy[67](index=67&type=chunk) - Net cash flow was **$8.3 billion** in Q2 2022, up from **$3.2 billion** in Q2 2021, reflecting a **$6.9 billion** increase in operating cash flow before working capital changes[75](index=75&type=chunk)[81](index=81&type=chunk) [Profitability](index=12&type=section&id=D.%20PROFITS) Profitability metrics improved significantly over the twelve months ending June 30, 2022, reflecting the strong earnings environment Profitability Ratios (for twelve months ended June 30) | Metric | 2022 | 2021 | | :--- | :--- | :--- | | Return on Equity (ROE) | 27.1% | 8.4% | | Return on Average Capital Employed (ROACE) | 23.1% | 7.2% | [2022 Sensitivities](index=13&type=section&id=E.%202022%20SENSITIVITIES) The company estimates that a **+$10/b** change in average liquids price would impact adjusted net operating income by **+/-$2.7 billion** and cash flow by **+/-$3.2 billion** 2022 Sensitivities (Estimated Annual Impact) | Variable | Change | Impact on Adj. Net Operating Income (billion dollars) | Impact on Cash Flow from Operations (billion dollars) | | :--- | :--- | :--- | :--- | | Average liquids price | +/- 10 $/b | +/- 2.7 | +/- 3.2 | | European gas price (NBP) | +/- 10 $/Mbtu | +/- 3.0 | +/- 3.0 | | VCM, European refining | +/- 10 $/t | +/- 0.4 | +/- 0.5 | [Summary and Outlook](index=13&type=section&id=F.%20SUMMARY%20AND%20OUTLOOK) TotalEnergies expects energy markets to remain fragile and prices to stay high, particularly for gas in Europe, while reinforcing its shareholder return policy - The company anticipates its average LNG selling price will be over **$15/Mbtu** in Q3 2022, though operations will be affected by the Freeport LNG plant outage[85](index=85&type=chunk) - Net investments for 2022 are expected to be around **$16 billion**, with a quarter dedicated to Renewables & Electricity[87](index=87&type=chunk) - The Board of Directors has reinforced its shareholder return policy, confirming a **5%** dividend growth and a continuation of the share buyback program with **$2 billion** planned for Q3[88](index=88&type=chunk) [Supplementary Information](index=14&type=section&id=Supplementary%20Information) This section provides additional details on the company's Russian assets, operating information by segment, and financial reconciliations [Results from Russian Assets](index=15&type=section&id=RESULTS%20FROM%20RUSSIAN%20ASSETS) The company's Russian upstream assets contributed **$707 million** to adjusted net operating income in Q2 2022, with total capital employed in Russia at **$8.76 billion** after impairment charges Financial Contribution from Russian Upstream Assets (million dollars) | Indicator | 2Q22 | 1H22 | | :--- | :--- | :--- | | Adjusted net operating income | 707 | 1,727 | | Operating cash flow before working capital changes | 857 | 1,144 | - Capital Employed by TotalEnergies in Russia was **$8,760 million** as of June 30, 2022, after a **$3,513 million** impairment and a **$2,066 million** revaluation due to ruble/dollar exchange rate changes[96](index=96&type=chunk) [Operating Information by Segment](index=15&type=section&id=OPERATING%20INFORMATION%20BY%20SEGMENT) This section provides detailed operational data, including hydrocarbon production by region and an extensive overview of the renewables portfolio Q2 2022 Combined Liquids and Gas Production by Region (thousand barrels of oil equivalent per day) | Region | 2Q22 | vs 2Q21 | | :--- | :--- | :--- | | Europe and Central Asia | 965 | -2% | | Africa | 460 | -14% | | Middle East and North Africa | 680 | +4% | | Americas | 420 | +11% | | Asia-Pacific | 213 | +8% | | **Total** | **2,738** | **—** | - The renewables portfolio shows a gross installed capacity of **11.6 GW**, with **5.2 GW** in construction and **33.9 GW** in development as of Q2 2022, with solar representing the largest component[99](index=99&type=chunk) [Reconciliations and Gearing](index=18&type=section&id=Reconciliations%20and%20Gearing) This section reconciles reported net income to adjusted EBITDA and details adjustments for special items, while highlighting the company's improved net-debt-to-capital ratio - Total adjustments affecting net income in Q2 2022 were negative **$4,104 million**, driven by a **$3,719 million** impairment charge[104](index=104&type=chunk) Gearing Ratio | Date | Net-debt-to-capital ratio | | :--- | :--- | | June 30, 2022 | 9.8% | | March 31, 2022 | 12.5% | | June 30, 2021 | 18.5% | - Net investments in Q2 2022 were **$4.9 billion**, a **53%** increase from the same period in 2021, driven by higher acquisitions[106](index=106&type=chunk) [Consolidated Financial Statements](index=22&type=section&id=CONSOLIDATED%20FINANCIAL%20STATEMENTS) This section presents the company's consolidated financial statements, including the statement of income, balance sheet, and cash flow [Consolidated Statement of Income](index=22&type=section&id=Consolidated%20Statement%20of%20Income) For the second quarter of 2022, TotalEnergies reported sales of **$74.8 billion** and a net income attributable to shareholders of **$5.7 billion**, representing a significant increase from Q2 2021 Consolidated Income Statement Highlights (million dollars) | Indicator | 2Q22 | 2Q21 | 1H22 | 1H21 | | :--- | :--- | :--- | :--- | :--- | | Sales | 74,774 | 47,049 | 143,380 | 90,786 | | Consolidated net income | 5,804 | 2,299 | 10,855 | 5,711 | | Net income (TotalEnergies share) | 5,692 | 2,206 | 10,636 | 5,550 | | Fully-diluted EPS ($) | 2.16 | 0.80 | 4.02 | 2.03 | [Consolidated Balance Sheet](index=26&type=section&id=Consolidated%20Balance%20Sheet) As of June 30, 2022, TotalEnergies' balance sheet showed total assets of **$333.4 billion**, an increase from **$272.7 billion** a year prior, with total shareholders' equity growing to **$120.0 billion** Consolidated Balance Sheet Highlights (million dollars) | Indicator | June 30, 2022 | June 30, 2021 | | :--- | :--- | :--- | | Total assets | 333,406 | 272,707 | | Total liabilities | 213,409 | 162,131 | | Total shareholders' equity | 119,997 | 110,576 | | Cash and cash equivalents | 32,848 | 28,643 | [Consolidated Statement of Cash Flow](index=27&type=section&id=Consolidated%20Statement%20of%20Cash%20Flow) In Q2 2022, cash flow from operating activities was exceptionally strong at **$16.3 billion**, more than double the **$7.6 billion** generated in Q2 2021 Consolidated Cash Flow Highlights (million dollars) | Indicator | 2Q22 | 2Q21 | 1H22 | 1H21 | | :--- | :--- | :--- | :--- | :--- | | Cash flow from operating activities | 16,284 | 7,551 | 23,901 | 13,149 | | Cash flow used in investing activities | (4,982) | (3,104) | (7,360) | (7,288) | | Cash flow from (used in) financing activities | (8,571) | (6,298) | (3,585) | (8,157) | | Net increase (decrease) in cash | 2,731 | (1,851) | 12,956 | (2,296) | [Notes to the Consolidated Financial Statements](index=30&type=section&id=NOTES%20TO%20THE%20CONSOLIDATED%20FINANCIAL%20STATEMENTS) This section provides detailed notes explaining the basis of preparation, changes in company structure, shareholders' equity, and other risks and contingent liabilities [Note 1: Basis of Preparation](index=30&type=section&id=Note%201%20Basis%20of%20preparation) The interim financial statements were prepared in accordance with IFRS and IAS 34, with estimates and judgments significantly impacted by the Russia-Ukraine conflict - The financial statements are prepared in accordance with IFRS and IAS 34 for interim reporting[137](index=137&type=chunk)[138](index=138&type=chunk) - As of June 30, 2022, TotalEnergies recorded a new **$(3,513) million** impairment charge related mainly to the potential impact of international sanctions on the value of its Novatek stake[143](index=143&type=chunk) [Note 2: Changes in Company Structure](index=31&type=section&id=Note%202%20Changes%20in%20the%20Company%20structure) During the first half of 2022, TotalEnergies expanded its renewables portfolio and finalized significant acquisitions in its E&P segment, while initiating withdrawal from the Yadana field in Myanmar - TotalEnergies, with partner EnBW, won a maritime lease in the New York Bight auction for **$795 million** to develop an offshore wind farm with at least **3 GW** of capacity[147](index=147&type=chunk)[148](index=148&type=chunk) - In April 2022, the company finalized the acquisition of interests in the Atapu and Sepia pre-salt oil fields in Brazil from Petrobras[151](index=151&type=chunk)[152](index=152&type=chunk)[153](index=153&type=chunk) - The company initiated the process of withdrawing from the Yadana field and MGTC in Myanmar, which became effective on July 20, 2022[149](index=149&type=chunk)[150](index=150&type=chunk) [Note 4: Shareholders' Equity](index=42&type=section&id=Note%204%20Shareholders%27%20equity) The Board of Directors approved a 2021 final dividend of **€0.66** per share and decided to increase the 2022 interim dividends by **5%** to **€0.69** per share 2022 Dividend Schedule | Dividend 2022 | First interim | Second interim | | :--- | :--- | :--- | | Amount | € 0.69 | € 0.69 | | Set date | April 27, 2022 | July 27, 2022 | | Payment date | October 3, 2022 | January 12, 2023 | - The Board of Directors decided to increase interim dividends for fiscal year 2022 by **5%**, setting the first and second interim dividends at **€0.69** per share[189](index=189&type=chunk)[190](index=190&type=chunk) [Note 7: Other Risks and Contingent Liabilities](index=45&type=section&id=Note%207%20Other%20risks%20and%20contingent%20liabilities) The company highlights ongoing risks and force majeure declarations in Yemen and Mozambique due to security issues, with the Russia-Ukraine conflict leading to significant impairments related to its Russian assets - Force majeure remains in effect for the Yemen LNG project (since 2015) and the Mozambique LNG project (since 2021) due to deteriorating security conditions[204](index=204&type=chunk)[205](index=205&type=chunk) - Due to the Russia-Ukraine conflict and sanctions, TotalEnergies decided to no longer book proved reserves for the Arctic LNG 2 project[209](index=209&type=chunk) - The company recorded an impairment of **$(4,095) million** in Q1 2022 (notably for Arctic LNG 2) and a new impairment of **$(3,513) million** in Q2 2022 (mainly for its Novatek stake) due to the conflict and sanctions[211](index=211&type=chunk)
TotalEnergies(TTE) - 2022 Q1 - Earnings Call Transcript
2022-04-29 00:49
TotalEnergies SE (NYSE:TTE) Q1 2022 Earnings Conference Call April 28, 2022 6:00 AM ET Company Participants Patrick Pouyanné - Chairman, Chief Executive Officer & President Jean-Pierre Sbraire - Chief Financial Officer Conference Call Participants Irene Himona - Societe Generale Christyan Malek - JPMorgan Oswald Clint - Bernstein Michele Della Vigna - Goldman Sachs Lydia Rainforth - Barclays Christopher Kuplent - Bank of America Bertrand Hodee - Kepler Cheuvreux Alastair Syme - Citigroup Peter Low - Redburn ...
TotalEnergies(TTE) - 2021 Q4 - Annual Report
2022-03-24 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) ...
TotalEnergies(TTE) - 2021 Q4 - Earnings Call Transcript
2022-02-10 22:04
TotalEnergies SE (NYSE:TTE) Q4 2021 Earnings Conference Call February 10, 2022 7:00 AM ET Company Participants Jean-Pierre Sbraire - Chief Financial Officer Patrick Pouyanne - Chairman, Chief Executive Officer & President Conference Call Participants Irene Himona - Societe Generale Mickael Della Vigna - Goldman Sachs Lydia Rainforth - Barclays Bertrand Hodee - Kepler Cheuvreux Christyan Malek - JPMorgan Biraj Borkhataria - RBC Lucas Herrmann - Exane Christopher Kuplent - Bank of America Alastair Syme - Citi ...