Ernie1966 zonder Bert schreef op 10 februari 2022 08:08:
Paris, February 10, 2022 - The Board of Directors of TotalEnergies SE, meeting on February 9, 2022, under
the Chairmanship of Chief Executive Officer Patrick Pouyanné, approved the Company's 2021 financial
statements. On the occasion, Patrick Pouyanné said:
"In the fourth quarter, oil prices continued to rise, up 9% compared to the previous quarter, while gas prices in Europe
and Asia, driven by increasing demand, hit all-time highs above $30/Mbtu and sent European power prices to record
levels. In this context, TotalEnergies' multi-energy model demonstrated its ability to take full advantage of the very
favorable environment, particularly in the LNG and electricity sectors, with adjusted net income of $6.8 billion and cash
flow (DACF) of $9.8 billion.
In 2021, the Company generated cash flow of $30.7 billion, up $13 billion compared to 2020, and adjusted EBITDA of
$42.3 billion. The Company reported adjusted net income of $18.1 billion, representing a return on equity of 16.9%
and a return on capital employed (ROACE) of nearly 14% for 2021, which demonstrates the quality of its portfolio and
operations. IFRS net income was $16 billion (€13.6 billion).
The integrated Gas, Renewables & Power (iGRP) segment reported adjusted net operating income of $2.8 billion and
cash flow of $2.4 billion in the fourth quarter, bringing full-year results and cash flow to $6.2 billion and $6.1 billion,
respectively. These historic results build on the globally integrated LNG portfolio, leveraging rising oil and gas prices
and outperformance in the gas and LNG trading business. The profitable growth strategy in Renewables & Electricity
continues with more than 10 GW of installed gross capacity and more than 6 million electricity customers at year-end
2021. The Renewables & Electricity business generated proportional adjusted EBITDA of $1.4 billion over the year,
above the target of $0.8 billion, reflecting the last quarter’s strong electricity markets. At the start of 2022, TotalEnergies
secured an additional 2 GW of offshore wind projects with the award of a concession in Scotland, as part of the
Scotwind tender.
Exploration & Production benefited from higher oil and gas prices with adjusted net operating income of $10.4 billion
and was a strong contributor to the Company’s net cash flow with $12.2 billion. In line with its strategy to invest in low-
cost and low-emission projects, TotalEnergies increased its presence in Brazil by entering the Atapu and Sépia giant
fields, launched the Lake Albert Resource Development Project in Uganda, while divesting interests in mature assets.
Downstream posted solid results with $3.5 billion in adjusted net operating income and cash flow of $5.5 billion, or
more than $3 billion in net cash flow. High margins in petrochemicals and the return to pre-crisis results in Marketing
& Services, despite sales volumes still impacted by Covid, offset European refining margins that remained low, due to
the rise in energy costs.
The Company maintained capital discipline with net investments of $13.3 billion, of which 25% was in Renewables &
Electricity. TotalEnergies reported net cash flow of $15.8 billion for the year, allowing it to continue to reduce its net
debt with year-end gearing reduced to 15.3%, compared to 21.7% at year-end 2020, and buy back $1.5 billion of
shares, in line with the previously announced objective.
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