TotalEnergies Q4 Profit Falls, But Revenue Climbs

TotalEnergies SE (TTE), a French energy and petroleum firm, on Wednesday reported a decline in earnings for the fourth quarter. However, the firm posted a rise in revenue.

For the quarter, the company posted a net income of $3.441 billion or $1.26 per share, compared with $5.903 billion or $2.17 per share, posted for the same period of last year. Adjusted income stood at $7.771 billion as against $ 6.904 billion of 2021.

Revenue from sales was at $63.953 billion as against $55.298 billion of previous year. The company's sales moved up to $68.582 billion from last year's $60.348 billion.

For the fiscal 2022, the Board has proposed a final dividend of 0.74 euro per share.

For 2023, the company's shareholder return policy will combine a 7.2 percent increase to 0.74 euro per share in interim dividends and share buybacks of $2 billion planned for the first quarter.

In addition, TTE has confirmed its project to spin-off its affiliate, TotalEnergies EP Canada, by listing it on the Toronto stock exchange. TTE intends to retain a 30 percent stake in the listed entity, and to distribute 70 percent of the shares to its shareholders, through a special dividend in kind.

In 2023, TTE expects net investments of $16 billion -$18 billion, including $5 billion dedicated to low-carbon energies.

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