Total Full-Year Report 2023

In 2023 TotalEnergies reported adjusted net income of $23.2 billion and cash flow of $35.9 billion. 2023 IFRS net income was $21.4 billion (€19.8 billion), up 4% year-on-year. This year the Company once again achieved top tier 20% return on equity and 19% return on average capital employed.

TotalEnergies invested $16.8 billion, including 35% for low-carbon energies mainly in power. Ordinary dividends increased by 7.1% and the Company completed $9 billion in buybacks of its shares, of which $1.5 billion was linked to the Canadian asset disposals. The Company further reduced net debt, achieving 5% gearing, including a $5 billion positive contribution of working capital. Payout increased to an attractive 46.0% in 2023. In addition, TotalEnergies ensured balanced profit sharing with its employees around the world and in particular in France (average 5% wage increase”, value sharing bonus* of at least €2k and support for employees in their energy transition**) and with its customers through rebates (€1.99 per liter price cap and renewal of the rebate on gas and power prices to private customers).

Integrated LNG results remain robust with fourth quarter adjusted net operating income of $1.5 billion and cash flow of $1.8 billion, up 8% and 7% quarter-over-quarter, respectively, and driven by higher production and strengthening prices. For full year 2023, Integrated LNG generated annual adjusted net operating income of $6.2 billion and cash flow of $7.3 billion, which is lower than the exceptional results in 2022 but higher than 2021 thanks to growth in its portfolio.