To launch 2 bln eur share buyback in Q2 (Il Sole 24 Ore Radiocor) - Paris, 26 Apr - French energy group TotalEnergies said that in the first quarter adjusted EBITDA fell a quarterly 2% and an annual 19% to 11.5 billion dollars.

Net profit came in at 5.7 billion dollars, up 13% from the fourth quarter and 3% from a year ago, while on an adjusted basis it was 5.1 billion dollars, down 2% and 22%, respectively.

Oil & Gas production was 2.46 Mboe/d, benefiting from 6% quarter-to-quarter production growth in LNG and from start-ups at Mero 2 in Brazil and Akpo West in Nigeria.

Adjusted net operating income fell 2% from the fourth quarter and 20% from a year ago to 5.6 billion dollars.

Exploration & Production delivered adjusted net operating income of 2.6 billion dollars and cash flow of 4.5 billion.

Integrated LNG achieved adjusted net operating income of 1.2 billion and cash flow of 1.3 billion for the quarter in a softening and less volatile price environment. Integrated Power generated sequentially higher adjusted net operating income of 0.6 billion and 0.7 billion of cash flow, with a return on average capital employed reaching 10%. Downstream adjusted net operating income was 1.2 billion and cash flow was 1.8 billion, benefiting from strong refining margins.

TotalEnergies declared a first interim dividend of 0.79 euros per share for fiscal year 2024, an increase close to 7% compared to 2023, and authorized the company to buy back shares for 2 billion dollars in the second quarter of 2024.

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(RADIOCOR) 26-04-24 09:16:29 (0207) 5 NNNN