We come back to the Q2 16 results published at the end of July. At that time, as a reminder, the group reported an adjusted net income of €345m for Q2 16, up 11% yoy, perfectly in line with the market’s expectations, but above our own estimates (10% below consensus on cautious synergies and costs). Upstream In the upstream division, adjusted net income was €46m vs a loss of €48m a year ago, mainly due to lower exploration expenses (+€144m), higher volumes (+€290
22 Aug 2016
More cost reductions and good operational performance
Sign up to access
Get access to our full offering from over 30 providers
Get access to our full offering from over 30 providers
More cost reductions and good operational performance
We come back to the Q2 16 results published at the end of July. At that time, as a reminder, the group reported an adjusted net income of €345m for Q2 16, up 11% yoy, perfectly in line with the market’s expectations, but above our own estimates (10% below consensus on cautious synergies and costs). Upstream In the upstream division, adjusted net income was €46m vs a loss of €48m a year ago, mainly due to lower exploration expenses (+€144m), higher volumes (+€290