...

TotalEnergies' downstream profits plummet in 1Q2024

Economy Materials 29 April 2024 16:54 (UTC +04:00)
Maryana Ahmadova
Maryana Ahmadova
Read more

BAKU, Azerbaijan, April 29. In 1Q2024, TotalEnergies' downstream adjusted net operating income reached $1.21 billion, Trend reports.

According to the company's latest financial statement, this figure marked a notable decline of 36 percent compared to the same period last year when it amounted to $1.89 billion.

On a more positive note, there was an uptick of 30 percent from the previous quarter's figure of $939 million.

Meanwhile, TotalEnergies' cash flow from operations excluding working capital (CFFO) from its downstream segment in the reporting period of 2024 totaled $1.77 billion - down 19 percent year-on-year ($2.18 billion in 1Q2023).

At the same time, a marginal rise of 5 percent was recorded quarter-over-quarter ($1.69 billion).

TotalEnergies recorded a dip in its exploration and production adjusted net operating income in 1Q2024, registering at $2.55 billion. This marked a decline of 9 percent compared to the preceding quarter's figure of $2.8 billion, and a 4-percent downturn from the corresponding period last year, which stood at $2.65 billion.

Tags:
Latest

Latest