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Shell plc publishes first quarter 2025 press release
SHELShell Global(SHEL) GlobeNewswire News Room·2025-05-02 06:01

Core Insights - Shell reported strong financial results for Q1 2025, with adjusted earnings of 5.6billion,reflectingrobustperformanceacrossvariousbusinesssegments[5][3][11]−ThecompanycompletedtheacquisitionofPavilionEnergy,enhancingitsLNGbusiness,anddivestedfromtheNigeriaonshoreandSingaporeEnergyandChemicalsPark,optimizingitsportfolio[1][5][4]−Shellannounceda5.6 billion, reflecting robust performance across various business segments [5][3][11] - The company completed the acquisition of Pavilion Energy, enhancing its LNG business, and divested from the Nigeria onshore and Singapore Energy and Chemicals Park, optimizing its portfolio [1][5][4] - Shell announced a 3.5 billion share buyback program for the next three months, marking the 14th consecutive quarter of buybacks of at least 3billion[2][5][6]FinancialPerformance−AdjustedEarningsforQ12025were3 billion [2][5][6] Financial Performance - Adjusted Earnings for Q1 2025 were 5.6 billion, with adjusted EBITDA at 15.25billionandcashflowfromoperations(CFFO)at15.25 billion and cash flow from operations (CFFO) at 9.28 billion [3][5] - CFFO excluding working capital was 11.9billion,withaworkingcapitaloutflowof11.9 billion, with a working capital outflow of 2.7 billion [5][6] - The company maintained a resilient balance sheet with net debt of 41.5billionandgearingof1941.5 billion and gearing of 19% [6][5] Segment Performance Integrated Gas - Adjusted earnings were 2.48 billion, with adjusted EBITDA of 4.74billion[3]−LNGsalesvolumesincreasedto16.5milliontonnesinQ12025,upfrom15.5milliontonnesinQ42024[8]Upstream−Adjustedearningswere4.74 billion [3] - LNG sales volumes increased to 16.5 million tonnes in Q1 2025, up from 15.5 million tonnes in Q4 2024 [8] Upstream - Adjusted earnings were 2.34 billion, with adjusted EBITDA of 7.39billion[3]−Liquidsproductionremainedstableat1,335kboe/d,whilegasproductionwasslightlylowerat3,020millionscf/d[9]Marketing−Adjustedearningswere7.39 billion [3] - Liquids production remained stable at 1,335 kboe/d, while gas production was slightly lower at 3,020 million scf/d [9] Marketing - Adjusted earnings were 0.9 billion, with marketing sales volumes at 2,674 kb/d [3][10] - Mobility sales volumes decreased to 1,964 kb/d, while lubricants sales increased to 87 kb/d [10] Chemicals & Products - Adjusted earnings were 0.45billion,withrefineryprocessingintakerisingto1,362kb/d[3][14]−Globalindicativerefiningmarginimprovedto0.45 billion, with refinery processing intake rising to 1,362 kb/d [3][14] - Global indicative refining margin improved to 6.2 per barrel [14] Renewables & Energy Solutions - Adjusted earnings were negative at (0.042)billion,butexternalpowersalesremainedstableat76TWh[3][15]−Renewablespowergenerationcapacityincreasedto7.5GW[15]StrategicOutlook−Thecompanyhasadisciplinedcapitalallocationstrategy,withacashcapexoutlookof(0.042) billion, but external power sales remained stable at 76 TWh [3][15] - Renewables power generation capacity increased to 7.5 GW [15] Strategic Outlook - The company has a disciplined capital allocation strategy, with a cash capex outlook of 20-22 billion for 2025 [5] - Total shareholder distributions over the last four quarters accounted for 45% of CFFO, aligning with the target of 40-50% [5]