TotalEnergies(US:TTE)2025-07-24 12:39Financial Performance - TotalEnergies reported Q2 2025 sales of $49,627 million, a decrease of 5% compared to Q1 2025 and a 7% decline from Q2 2024[5]. - Net income attributable to TotalEnergies' shareholders for Q2 2025 was $2,687 million, down 30% from Q1 2025 and down 31% from Q2 2024[5]. - Adjusted EBITDA for Q2 2025 was $9,690 million, reflecting an 8% decrease from Q1 2025 and an 11% decrease from Q2 2024[5]. - Revenues from sales in Q2 2025 were $44,676 million, a decrease of 7% compared to Q1 2025 and an 8% decline from Q2 2024[80]. - TotalEnergies reported consolidated net income of $2,746 million for Q2 2025, a decrease of 30% compared to $3,921 million in Q1 2025 and a decrease of 29% from $3,847 million in Q2 2024[114]. - Adjusted net income for Q2 2025 was $3,578 million, down 15% from $4,192 million in Q1 2025[79]. - TotalEnergies' net income for Q2 2025 was $2,687 million, down from $3,851 million in Q1 2025 and $3,787 million in Q2 2024[48]. Cash Flow and Investments - Cash flow from operating activities in Q2 2025 was $5,960 million, which is 2.3 times higher than Q1 2025 but down 24% from Q2 2024[5]. - Cash flow from operating activities for TotalEnergies was $5,960 million in Q2 2025, impacted by a $0.5 billion increase in working capital requirements[49]. - Cash flow used in investing activities in Q2 2025 was $6,689 million, an increase of 39% compared to Q1 2025 and 47% year-over-year[81]. - Net investments in Q2 2025 totaled $6,632 million, up 35% from Q1 2025 and 43% from Q2 2024[81]. - Cash flow from operating activities for the first half of 2025 was $8,523 million, down 23.8% from $11,176 million in the first half of 2024[122]. - Free cash flow after organic investments for Q2 2025 was $1,799 million, a 28% decrease from $3,367 million in Q1 2025[87]. Production and Operational Metrics - Hydrocarbon production averaged 2,503 kboe/d in Q2 2025, a 2% increase year-on-year, driven by new project start-ups and acquisitions[17]. - Hydrocarbon production in the Exploration & Production segment averaged 1,956 kboe/d in Q2 2025, a decrease of 1% compared to Q1 2025[28]. - Total petroleum product sales in Marketing & Services increased by 5% quarter-on-quarter to 1,324 kb/d in Q2 2025[44]. - The total refinery throughput increased by 3% quarter-on-quarter to 1,589 kb/d in Q2 2025, with a utilization rate of 90%[40]. - Net power production in the Integrated Power segment reached 11.6 TWh in Q2 2025, a 28% increase year-on-year, driven by growth in renewable energy production[36]. Environmental and Emission Metrics - Scope 1+2 greenhouse gas emissions from operated facilities were 8.0 MtCO2e in Q2 2025, a 5% decrease from Q1 2025[10]. - TotalEnergies SE aims to reduce its net direct and indirect CO2 emissions by 40% by 2040 compared to 2019 levels, as part of its vigilance plan[183]. Acquisitions and Strategic Initiatives - TotalEnergies finalized the acquisition of VSB Group for €1.57 billion, enhancing its renewable capacity with over 15 GW in the pipeline[133]. - The acquisition of SapuraOMV's upstream gas assets was completed for a fair value consideration of $1,189 million, including $440 million in goodwill and $1,022 million in tangible assets[134]. - TotalEnergies expects continued focus on organic investments and strategic acquisitions to enhance growth and operational efficiency[5]. Legal and Regulatory Matters - TotalEnergies SE faced legal actions in France regarding environmental claims, with accusations of misleading corporate communication since May 2021[184]. - Nine shareholders filed a lawsuit against TotalEnergies SE in July 2023, alleging insufficient asset impairment provisions in the fiscal year 2022 financial statements[185]. - The Paris Civil Court of Justice declared a climate-related action against TotalEnergies SE admissible, with a trial set to proceed[183]. - TotalEnergies SE is currently involved in ongoing legal proceedings that may affect its financial outlook, but specific financial consequences are not yet assessable[189].