The company reported it Q4 16 results which were above consensus at $2.4bn vs. $2.2bn expected. All divisions supported better results in our view, with continuing efforts on cost cutting which helped a lot. Costs have been cut by $2.8bn compared with 2014, and should reach $3.5bn in 2017 and $4bn in 2018. Upstream and Downstream results came in above expectations while the marketing division’s was a bit lower. Cash flow was good despite some help from working capital which helped to co
09 Feb 2017
First View: Better results, dividend increase (+1.6%), cash flow neutral at $40/bbl
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First View: Better results, dividend increase (+1.6%), cash flow neutral at $40/bbl
TotalEnergies SE (TTE:LON) | 6,354 1969.7 0.5% | Mkt Cap: 151,660m
- Published:
09 Feb 2017 -
Author:
Alexandre Andlauer -
Pages:
2
The company reported it Q4 16 results which were above consensus at $2.4bn vs. $2.2bn expected. All divisions supported better results in our view, with continuing efforts on cost cutting which helped a lot. Costs have been cut by $2.8bn compared with 2014, and should reach $3.5bn in 2017 and $4bn in 2018. Upstream and Downstream results came in above expectations while the marketing division’s was a bit lower. Cash flow was good despite some help from working capital which helped to co