TIDMTTE
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):
At its meetings on September 22 and 28, TotalEnergies' Board of
Directors reviewed the Company's outlook in the context of changing
energy markets as a result of the energy transition.
The Board of Directors noted the relevance of the Company's
balanced multi-energy strategy in light of the developments in the
oil, gas and electricity markets. Thanks to refocusing the
portfolio of oil and gas assets and projects on low cost (less than
$20/b), a strong growth strategy in liquefied natural gas (LNG) to
position itself among the top 3 worldwide, and the accelerated
development into electricity, mainly renewable to reach the top 5
worldwide, the Company is in a very favorable position to benefit
from the evolution of energy markets.
With a breakeven anchored below $25/b, TotalEnergies is a much
more profitable company today than it was 10 years ago: at the same
oil equivalent price, it generates an additional $15 billion of
cash flow and can take full advantage of favorable environments.
Thus, by end-2022, the Company will have a very strong balance
sheet with gearing sharply down to around 5%, providing more
flexibility. It is positioned to both accelerate its transformation
strategy and to offer an attractive return to the shareholder
policy.
In addition, the Company expects underlying cash flow (excluding
Russia) to grow by $4 billion over the coming 5 years using
moderate energy price assumptions ($50/b for oil and $8/Mbtu for
European gas), knowing that it would generate an additional cash
flow of more than $3 billion for every $10/b increase in the price
of oil. This structural cash flow growth will support dividend
growth over the next 5 years.
In this context, the Board of Directors has adopted a cash flow
allocation strategy for the coming years. It provides for the
allocation of 35-40% of cash flow to shareholders through the
cycles while accelerating the Company's transformation strategy
with net investments increasing to $14-18 billion per year over
2022-25. This increase will be dedicated in priority to the
development of carbon-free energies and carbon footprint reduction
programs which will represent about a third. Investments in solar
and wind will exceed $4 billion in 2022 (compared to $3 billion in
2021) and a $1 billion energy savings program will be deployed
globally in 2023-24 to control the cost of energy consumed and
accelerate the reduction of emissions. The remaining two-thirds
will be dedicated to on one hand to growing in LNG and on the other
to developing low-cost, low-emission oil projects to meet
demand.
Confident in TotalEnergies' ability to ensure profitable and
sustainable growth in the coming years and seeking to share with
its shareholders the Company's results in this context of high
prices, the Board of Directors has taken following decisions:
- allocate through the cycles 35-40% of cash flow to
shareholders
- for year 2022, maintain the $7 billion share buyback program
as announced in July and pay a special interim dividend of 1 EUR
per share in December 2022, in addition to the 5% increase in
quarterly interim dividends already announced and implemented. The
return to shareholders should therefore represent between 35 and
40% of cash flow as of 2022.
*****
Patrick Pouyanné, Chairman and Chief Executive Officer of
TotalEnergies, and Helle Kristoffersen, President Strategy &
Sustainability, are presenting the Company's strategy and outlook
in New York today. The presentation and video broadcast in English
of the event are available on totalenergies.com.
Two thematic presentations and three roundtables led by the
members of the Executive Committee of TotalEnergies will take place
after this Strategy & Outlook presentation:
A world-class integrated LNG portfolio
Stéphane Michel, President Gas, Renewables & Power
Developing our multi-energy model in the United States
Jean-Pierre Sbraire, Chief Financial Officer
Roundtable "The future of mobility"
Bernard Pinatel, President Refining & Chemicals
Thierry Pflimlin, President Marketing & Services
Roundtable "Our business model in electricity"
Helle Kristoffersen, President Strategy & Sustainability
Stéphane Michel, President Gas, Renewables & Power
Roundtable "Leveraging technical expertise to transform the
Company"
Namita Shah, President OneTech
Nicolas Terraz, President Exploration & Production
Replays of the presentations will be available from September 29
on the website totalenergies.com.
***
About TotalEnergies
TotalEnergies is a global multi-energy company producing and
supplying energy: oil and biofuels, natural gas and green gas,
renewables and electricity. Its more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Present in
more than 130 countries, TotalEnergies places sustainable
development in all its dimensions at the heart of its projects and
operations to contribute to the well-being of populations.
Twitter: @TotalEnergies LinkedIn: TotalEnergies Facebook:
TotalEnergies Instagram: TotalEnergies
Warning
The terms "TotalEnergies", "TotalEnergies Company" and "Company"
appearing in this document are used to refer to TotalEnergies SE
and the consolidated entities that TotalEnergies SE controls
directly or indirectly. Similarly, the terms "we", "us", "our" may
also be used to refer to these entities or their employees. The
entities in which TotalEnergies SE holds a stake directly or
indirectly are separate and autonomous legal persons. This document
may contain forward-looking statements. They may prove to be
inaccurate in the future and are dependent on risk factors. Neither
TotalEnergies SE nor any of its subsidiaries undertakes or assumes
any commitment or responsibility to investors or any other
stakeholder to update or revise, in particular as a result of new
information or future events, any or all of the statements,
forward-looking information, trends or objectives contained in this
document. Information regarding risk factors that could have a
material adverse effect on TotalEnergies' financial results or
operations is also available in the most up-to-date versions of the
Universal Registration Document filed by TotalEnergies SE with the
Autorité des marchés financiers and Form 20-F filed with the United
States Securities and Exchange Commission ("SEC").
Contacts TotalEnergies
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l
@TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l
ir@totalenergies.com
View source version on businesswire.com:
https://www.businesswire.com/news/home/20220928005678/en/
CONTACT:
TotalEnergies
SOURCE: TotalEnergies SE
Copyright Business Wire 2022
(END) Dow Jones Newswires
September 28, 2022 09:10 ET (13:10 GMT)
Totalenergies (LSE:TTE)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Totalenergies (LSE:TTE)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024