Yearly profit slumped 66% as the pandemic hit fuel demand
One of the “supermajor” oil companies, the Paris-based Total, posted mixed quarterly and full-year figures.
Total reported a net profit of $1.3 billion at a quarterly level, topping the $1.1 billion expected. The dividends payment is in line with the previous quarters, at $0.8 per share.
Compared to last year’s figures, the 2020 net profit came in 66% lower at $4.06 billion. However, it beat the $3.86 billion expected by the markets.
The figures are a result of a tumultuous 2020 when commodities prices fell amid the COVID-19 pandemic. “Total faced two major crises in 2020: the Covid-19 pandemic that severely affected global energy demand, and the oil crisis that drove the Brent price below $20 per barrel in the second quarter,” stated Patrick Pouyanne, Total CEO.
Total’s report follows those of BP, and Exxon Mobil, which reported its first full-year net loss in a decade, and its fourth consecutive quarter of losses, respectively.
Year-to-date, Total share price lost 0.8%. In 2020, they tumbled more than 28%.
Read here and here about how BP and Exxon have performed!
Source: cnbc.com
Gli utenti / lettori non dovrebbero fare affidamento esclusivamente sulle informazioni qui presentate e dovrebbero fare le proprie ricerche / analisi anche leggendo la ricerca reale sottostante. Il contenuto è generico e non tiene conto di circostanze personali individuali, esperienza di investimento o situazione finanziaria attuale.
Pertanto, Key Way Investments Ltd non accetta alcuna responsabilità per eventuali perdite di trader a causa dell'uso e del contenuto delle informazioni presentate nel presente documento. Le prestazioni passate e le previsioni non sono un indicatore affidabile dei risultati futuri.
