NVIDIA launches Jetson Thor robotics computers for physical AI systems
PARIS - TotalEnergies (EPA:TTEF) SE (Paris:TTE) (LSE:TTE) (NYSE:TTE) has reported a strong start to the year, with adjusted net income reaching $4.2 billion in the first quarter of 2025, a 5% decrease from $4.4 billion in the previous quarter and an 18% decline from $5.1 billion in the first quarter of 2024. Despite the uncertain environment, the company has maintained attractive shareholder returns, confirming the distribution of the first interim dividend of €0.85/share for fiscal year 2025, up 7.6% from 2024.
The company’s oil and gas production increased by 4% year-on-year, with notable contributions from new projects in Brazil, the United States, Malaysia, Argentina, and Denmark. The Ballymore offshore field in the United States and Mero-4 in Brazil are expected to further boost production growth in line with the company’s 2025 objectives.
TotalEnergies’ Integrated LNG segment reported adjusted net operating income of $1.3 billion and cash flow of $1.2 billion for the quarter, reflecting higher LNG prices year-on-year but lower than the fourth quarter of 2024. The Integrated Power segment generated over $500 million in adjusted net operating income and $600 million in cash flow, consistent with annual guidance.
However, the Downstream segment faced challenges with weak refining margins and declining petrochemical and biofuel margins in Europe, resulting in an adjusted net operating income of $0.5 billion and cash flow of $1.1 billion, which was below expectations.
Looking ahead, the company anticipates hydrocarbon production growth of 2 to 3% year-on-year for the second quarter of 2025, with a full-year target of over 3% growth compared to 2024. TotalEnergies reiterates its net investments guidance of $17 to $17.5 billion for 2025, dedicating $4.5 billion to low carbon energies, predominantly Integrated Power.
The company’s financial resilience is further emphasized by a strong balance sheet, with normalized gearing of 11% excluding the seasonal effect of working capital.
This article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.