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Interim Results

Shell boosts Q1 2017 CCS attributable earnings

04 May 2017 07:20

Royal Dutch Shell has boosted its Q1 2017 CCS earnings attributable to shareholders to $3.38bn, which was up 315% from the $814m recorded in the same period a year ago.

"The first quarter 2017 was a strong quarter for Shell," said CEO Ven van Beurden. Dividend per share was $0.47, unchanged on the year.

Cash flow from operating activities of $9.5bn and free cash flow of $5.2bn enabled it to reduce debt, and cover its cash dividend for the third consecutive quarter.

"We saw notable improvements in Upstream and Chemicals, which benefited from improved operational performance and better market conditions. Our operations in Qatar are restarting during the second quarter," said van Beurden.

"We continue to reshape Shell's portfolio and to transform the company with over $20bn divestments completed or announced that will strengthen the balance sheet as they are completed."

The CEO added that the strategy the company had outlined to deliver a world-class investment case was taking shape.

Following the successful integration of BG, Shell was rapidly transforming through the consistent and disciplined execution of its strategy.

"This includes investing around $25bn this year and the delivery of new projects, which we expect to generate $10bn in cash flow from operating activities by 2018."

Story provided by StockMarketWire.com

Related Company: RDSA

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