Totalenergies Se · EURONEXT:TTE
Totalenergies — Q3 2022 Earnings Presentation
26 slides from Totalenergies's earnings presentation, Oct 28, 2022
Slide 1: Third quarter 2022 results press release
Paris, October 27, 2022 - The Board of Directors of TotalEnergies SE, meeting on October 26, 2022 under the chairmanship of CEO Patrick Pouyanné approved the Company’s financial statements for the third quarter of 2022. On this occasion, Patrick Pouyanné said: "In a context marked by an average Bren
Slide 2: Footnotes and definitions of adjusted results
* Average €-$ exchange rate: 1.0070 in the third quarter 2022 and 1.0638 in the first nine months of 2022. (5) Adjusted results are defined as income using replacement cost, adjusted for special items, excluding the impact of changes for fair value; adjustment items are on page 16. (6) Adjusted EBIT
Slide 3: Environment and greenhouse gas emissions
* The indicators are shown on page 21. ** This indicator represents TotalEnergies’ average margin on variable cost for refining in Europe (equal to the difference between TotalEnergies European refined product sales and crude oil purchases with associated variable costs divided by volumes refined in
Slide 4: Estimated 2022 quarterly emissions
Estimated 2022 quarterly emissions. 2021 quarterly equity share data are not available. Excluding Covid-19 effect for emissions data from 2Q20 through 2Q22.
Slide 5: Hydrocarbon production
* Company production = E&P production + iGRP production. Hydrocarbon production was 2,669 thousand barrels of oil equivalent per day (kboe/d) in the third quarter of 2022, down 5% year-on-year, comprised of: · +3% due to the start-up and ramp-up of projects including Clov Phase 2 and Zinia Phase 2 i
Slide 6: LNG production and sales
* The Company’s equity production may be sold by TotalEnergies or by the joint ventures. Third quarter 2022 LNG production was down 6% year-on-year, mainly due to the end of the Qatargas 1 operating license, planned maintenance on Ichthys LNG in Australia as well as the decrease in gas supply to NLN
Slide 7: Renewable power generation capacity
(1) Includes 20% of Adani Green Energy Ltd’s gross capacity effective first quarter 2021. (2) Includes 50% of Clearway Energy Group’s gross capacity effective third quarter 2022. (3) End of period data. (4) Solar, wind, biogas, hydroelectric and combined-cycle gas turbine (CCGT) plants. (5) TotalEne
Slide 8: Integrated Gas, Renewables & Power results
* Detail of adjustment items shown in the business segment information annex to financial statements. ** Excluding financial charges, except those related to lease contracts, excluding the impact of contracts recognized at fair value for the sector and including capital gains on the sale of renewabl
Slide 9: Exploration & Production results
* Details on adjustment items are shown in the business segment information annex to financial statements. ** Tax on adjusted net operating income / (adjusted net operating income - income from equity affiliates - dividends received from investments - impairment of goodwill + tax on adjusted net ope
Slide 10: Refinery and petrochemicals throughput and utilization rates
* Detail of adjustment items shown in the business segment information annex to financial statements. ** Excluding financial charges, except those related to leases. 4.4 Refining & Chemicals 4.4.1 Refinery and petrochemicals throughput and utilization rates
Slide 11: Refinery throughput and utilization
* Includes refineries in Africa reported in the Marketing & Services segment. ** Based on distillation capacity at the beginning of the year, excluding Grandpuits (shut down first quarter 2021) from 2021 and Lindsey refinery (divested) from second quarter 2021.
Slide 12: Refining & Chemicals results
*Details of the adjustment items can be found in the industry information in the financial statements. **Excluding financial expenses except those related to leases. Adjusted net operating income for the Refining & Chemicals segment was: · $1,935 million in the third quarter 2022, compared to $602 m
Slide 13: Marketing & Services and TotalEnergies results
*Details of the adjustment items can be found in the industry information in the financial statements. **Excluding financial expenses except those related to leases. Adjusted net operating income for the Marketing & Services segment was $478 million in the third quarter 2022, up 9% year-on-year, and
Slide 14: Sensitivities and summary and outlook
* Sensitivities are revised once per year upon publication of the previous year’s fourth quarter results. Sensitivities are estimates based on assumptions about TotalEnergies’ portfolio in 2022. Actual results could vary significantly from estimates based on the application of these sensitivities. T
Slide 15: Downstream (Refining & Chemicals and Marketing & Services)
10.2 Downstream (Refining & Chemicals and Marketing & Services)
Slide 16: Renewables
* Olefins, polymers. 10.3 Renewables
Slide 17: Renewable capacity notes
(1) Includes 20% of gross capacity of Adani Green Energy Ltd effective first quarter 2021. (2) Includes 50% of Clearway Energy Group’s gross capacity effective third quarter 2022. (3) End-of-period data.
Slide 18: Reconciliation of adjusted EBITDA
12. Reconciliation of adjusted EBITDA with consolidated financial statements 12.1 Reconciliation of net income (TotalEnergies share) to adjusted EBITDA
Slide 19: Reconciliation of revenues from sales to adjusted EBITDA
12.2 Reconciliation of revenues from sales to adjusted EBITDA and net income (TotalEnergies share)
Slide 20: Investments - Divestments
13. Investments - Divestments
Slide 21: Cash flow
* Change in debt from renewable projects (TotalEnergies share and partner share). 14. Cash flow
Slide 22: Gearing ratio
* Operating cash flow before working capital changes, is defined as cash flow from operating activities before changes in working capital at replacement cost, excluding the mark-to-market effect of iGRP’s contracts and including capital gain from renewable projects sale. Historical data have been re
Slide 23: Gearing ratio notes
(1) Excludes leases receivables and leases debts. (2) Including initial margins held as part of the Company's activities on organized markets. 16. Return on average capital employed Twelve months ended September 30,
Slide 24: Return on average capital employed
Integrated Gas, Inmilions of dollars Renee Spt Seems Meme company ‘aust net operating income “20% Tare ace 1988 o7a88 Capital employe a 097072021 S201 7.460 0.186 oe “49.988 Capital employed a 0879012022 sass ssos1 501 ia 10.420 ROACE 224% 249% 52% 22% 22%
Slide 25: Twelve months ended September 30
Twelve months ended September 30,
Slide 26: Disclaimer
* At replacement cost (excluding after-tax inventory effect). Disclaimer: The terms “TotalEnergies”, “TotalEnergies company” and “Company” in this document are used to designate TotalEnergies SE and the consolidated entities directly or indirectly controlled by TotalEnergies SE. Likewise, the words