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The profit on the basis of current approximate inventory costs (ccs), and excluding non-recurring items increased by 14 percent, to 1.8 billion dollars (1.7 billion euros). Analysts calculated the average on $ 1 billion more. That result, is decisive in the financial markets, fell around 2016 with more than a third to 7.2 billion dollars.
Reassuring for investors was that Shell announced the dividend to want to maintain at 47 cents per share. Just as in the third quarter, free cash flow in the last three months of 2016, higher than the cash dividend that Shell pays out.
Chairman of the board Ben van Beurden talked about 2016 as a ‘transitional year’ and declared that the now-combined company of Shell and BG now $ 10 billion per year cheaper then worked the two energiereuzen separately did.
in particular, the division that crude oil produces (Upstream) saw the results improve. The part turned almost straight up, after a loss of $ 1 billion in the fourth quarter of 2015. At the raffinagetak (Downstream) and gas activities, in contrast, was less a win than a year earlier. An adjustment of certain estimates on the area of taxes provided for an additional charge of a half a billion dollars.
Low oil prices
Shell has been two years suffering from the low oil prices, which early last year to a low point reached. In addition, had the olieconcern past year a task for the processing of the acquisition of a gas producer BG, which will require more than $ 50 billion was paid in. The debt is thereby increased substantially.
On the other hand, Shell is doing for $ 30 billion in assets to divest the debt back down. That program is just about on the half. By the recovering oil market, the outlook is also what cleared up.
‘Year of progress’
According to Van Beurden begins the strategy of the company is its fruit and 2017 , again to be a year of progress”. Shell expects this year about 25 billion dollars to invest in projects.
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