5 February 2025
If you are covering TotalEnergies latest results, please see the following comment from Maurizio Carulli, energy and materials analyst, Quilter Cheviot:
"TotalEnergies' Q4 results came in slightly better than expected, which should lift investor sentiment after a weak Q3. Highlights include stronger performance in the integrated LNG division, stabilisation of refining margins—which had been particularly challenged in the previous quarter—and lower gearing.
"The company has an attractive long-term growth profile, backed by a strong pipeline of projects. It is also seeing significant growth in its renewable energy sector, where it expects above-average returns thanks to its integrated trading capabilities. An overall 14.8% return on capital employed shows its strong resilience.
"Under the experienced leadership of CEO Patrick Pouyanné, TotalEnergies has navigated a challenging 2024 environment well and is well-positioned for the future."
