Totalenergies Se · EURONEXT:TTE
Totalenergies — Total — Q3 2018 Earnings Presentation
22 slides from Totalenergies's earnings presentation, Oct 31, 2018
Slide 1: Third quarter 2018 results and key figures
Total’s third quarter adjusted net income increased by 48% from last year to $4.0 billion, while oil prices increased by 44% to 75 $/b supported by supply tensions and the geopolitical context. ebt-adjusted cash flow (DACF) increased by 37% to $7.5 billion and return on equity rose to 11.9% over the
Slide 2: Highlights since the beginning of the third quarter 2018
* Average €-$ exchange rate: 1.1629 in the third quarter 2018 and 1.1942 in the first nine months 2018. Highlights since the beginning of the third quarter 2018 10 • Started production at Kaombo in Angola, Ichthys LNG in Australia and the second train at Yamal LNG in Russia • Signed an agreement to
Slide 3: Exploration & Production: production
* Consolidated subsidiaries, excluding fixed margins. ** 2017 data restated. > Production
Slide 4: Hydrocarbon production in the third quarter 2018
Hydrocarbon production was 2,804 thousand barrels of oil equivalent per day (kboe/d) in the third quarter 2018, an increase of close to 9% compared to last year, due to: • +10% for start-ups and ramp-ups on new projects, notably Yamal LNG, Ofon 2, Fort Hills, Edradour-Glenlivet, Kaombo Norte, Moho N
Slide 5: Exploration & Production results
** 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 operating income) . *** excluding financial charges. * Details of adjustment items are shown in the business s
Slide 6: Gas, Renewables & Power results
* Detail of adjustment items shown in the business segment information annex to financial statements. ** excluding financial charges Adjusted net operating income for the Gas, Renewables & Power segment was 272 M$ in the third quarter 2018 and 580 M$ for the first nine months 2018 , notably thanks t
Slide 7: Refining & Chemicals: refinery throughput and utilization
* Includes share of TotalErg, and African refineries reported in the Marketing & Services segment. ** Based on distillation capacity at the beginning of the year. *** 2017 data restated. Refinery throughput: • increased by 4% in the third quarter 2018 compared to the third quarter 2017, thanks to th
Slide 8: Refining & Chemicals results
* Detail of adjustment items shown in the business segment information annex to financial statements. ** excluding financial charges. The European Refining Margin Indicator (ERMI) for the Group decreased by 17% from a year ago to 39.9 $/t in the third quarter, and decreased by 22% to 33.4 $/t in the
Slide 9: Marketing & Services: petroleum product sales
* Excludes trading and bulk refining sales, includes share of TotalErg. Petroleum product sales increased by: • 1% in the third quarter 2018 compared to the third quarter 2017. The sale of TotalErg in Italy was offset by higher sales in the rest of the world. • 2% for the first nine months 2018 comp
Slide 10: Marketing & Services and Group results
* Detail of adjustment items shown in the business segment information annex to financial statements. ** excluding financial charges. Marketing & Services adjusted net operating income was: • 474 M$ in the third quarter 2018, a decrease of 6% compared to the third quarter 2017 . • 1,319 M$ for the f
Slide 11: Return on average capital employed
Return on average capital employed was 11.1% for the twelve months ended September 30, 2018, an increase compared to the twelve months ended September 30, 2017.
Slide 12: TOTAL S.A. parent company accounts and sensitivities
TOTAL S.A., parent company accounts Net income for TOTAL S.A., the parent company, was 4,814 M€ in the first nine months 2018, compared to 2,620 M€ in the first nine months 2017. 2018 Sensitivities*
Slide 13: Summary and outlook
due to supply tensions and the geopolitical context * Sensitivities are revised once per year upon publication of the previous year’s fourth quarter results. Sensitivities are estimates based on assumptions about the Group’s portfolio in 2018. Actual results could vary significantly from estimates b
Slide 14: Downstream and sales data
* Sales, Group share, excluding trading; 2017 data restated to reflect volume estimates for Bontang LNG in Indonesia based on the 2017 SEC coefficient. > Downstream (Refining & Chemicals and Marketing & Services)
Slide 15: Adjustment items to net income (Group share)
* 2017 data restated. **Includes share of TotalErg. Adjustment items to net income (Group share)
Slide 16: Special items affecting net income
3Q18 (152) 89 (39) (88) (114) 160 (9) (1) In millions of dollars Special items affecting net income (Group share) Gain (loss) on asset sales Restructuring charges Impairments Other After-tax inventory effect: FIFO vs. replacement cost Effe ct of changes in fair value Total adjustments affecting neti
Slide 17: Investments and net investments
3Q18 2,568 156 147 (688) 3,228 209 (621) 6,208 3Q17 3,060 161 153 (337) 513 202 (2) 3,373 vs In millions of dollars -16% Organic investments (a ) -3% capitalized exploration 4% increase in non-current loans x2 repayment of non-current loans x63 Acquisitions (b) +3% Asset sales (c) - Other transactio
Slide 18: Working capital and gearing ratios
Increase in working capital after the inventory effect: • 1.4 B$ in the third quarter 2018 due to the consolidation of Engie LNG and Direct Energie and the increase in oil prices at the end of the quarter. • 4.8 B$ over the first nine months 2018 for the same reasons, as well as the consolidation of
Slide 19: Return on average capital employed: twelve months ended Sept 30, 2018
Return on average capital employed > Twelve months ended September 30, 2018
Slide 20: Twelve months ended June 30, 2018
> Twelve months ended June 30, 2018
Slide 21: Twelve months ended September 30, 2017
> Twelve months ended September 30, 2017
Slide 22: Notes and forward-looking statements
* At replacement cost (excluding after-tax inventory effect). This press release presents the results for the third quarter and first nine months 2018 from the consolidated financial statements of TOTAL S.A. as of September 30, 2018 (unaudited). The audit procedures by the Statutory Auditors are und