Core Insights - Shell plc reported a significant decrease in income attributable to shareholders in Q1 2025, amounting to 4.78billion,downfrom7.36 billion in Q1 2024, reflecting a 35% decline [1][3] - Adjusted earnings for Q1 2025 were 5.58billion,a523.66 billion in Q4 2024, driven by lower exploration well write-offs and higher product margins [1][2] - The company experienced a cash flow from operating activities of 9.28billion,adecreaseof2969.23 billion, an increase from 66.28billioninQ42024[73]−AdjustedEBITDAforQ12025was15.25 billion, up 7% from 14.28billioninQ42024[1]−Freecashflowwasreportedat5.32 billion, reflecting a decrease from 8.73billioninQ42024[1]SegmentAnalysisIntegratedGas−IncomefortheIntegratedGassegmentwas2.79 billion in Q1 2025, up from 1.74billioninQ42024[19]−Adjustedearningsincreasedto2.48 billion, a 15% rise from 2.17billioninQ42024[19]−LNGsalesvolumesreached16.49milliontonnes,a62.08 billion, a significant increase from 1.03billioninQ42024[27]−Adjustedearningsroseto2.34 billion, a 39% increase from 1.68billioninQ42024[27]−Totalproductionavailableforsalewas1.86millionboe/d,slightlydownfrom1.86millionboe/dinQ42024[27]Marketing−TheMarketingsegmentsawincomeriseto814 million, a substantial increase from 103millioninQ42024[33]−Adjustedearningswere900 million, reflecting a 7% increase from 839millioninQ42024[33]−Cashflowfromoperatingactivitieswas1.91 billion, up from 1.36billioninQ42024[33]ChemicalsandProducts−TheChemicalsandProductssegmentreportedalossof77 million, an improvement from a loss of 276millioninQ42024[42]−Adjustedearningsforthesegmentwere449 million, a significant increase from a loss of 229millioninQ42024[42]−Cashflowfromoperatingactivitieswas130 million, down from 2.03billioninQ42024[42]RenewablesandEnergySolutions−TheRenewablesandEnergySolutionssegmentreportedalossof247 million, an improvement from a loss of 1.23billioninQ42024[52]−Adjustedearningswerenegativeat42 million, an improvement from a loss of 311millioninQ42024[52]−Cashflowfromoperatingactivitieswas367 million, a decrease from 850millioninQ42024[52]ShareholderDistributions−TotalshareholderdistributionsinQ12025amountedto5.5 billion, including 3.3billioninsharerepurchasesand2.2 billion in cash dividends [8] - The dividend declared for Q1 2025 was 0.3580pershare,consistentwiththepreviousquarter[1][8]Outlook−Thecompanyexpectscashcapitalexpenditureforthefullyear2025tobebetween20 billion and $22 billion [66] - Integrated Gas production is projected to be approximately 890 - 950 thousand boe/d in Q2 2025 [67] - Upstream production is expected to be around 1,560 - 1,760 thousand boe/d, reflecting the SPDC divestment [68]
