Third quarter 2013 results presentations
Oct 31, 2013
Video comment and webcasts of the third quarter 2013 results as released on October 31, 2013.
CFO video comment
Simon Henry, CFO of Shell, comments on the Q3 2013 results
Hello, I am Simon Henry, the CFO of Royal Dutch Shell.
Today I’d like to give you an overview of our third quarter results and
the portfolio development.
Firstly on the results.
Our third quarter earnings on a current cost of supplies or CCS basis,
excluding identified items, were $4.5 billion…
…that's a 32% decrease in CCS earnings per share versus the same quarter last year.
Significantly weaker industry refining conditions, higher costs,
maintenance activities in Upstream, higher exploration charges and operating challenges
in Nigeria, all have hit our bottom line.
These effects were partly offset by higher Chemicals results and increased underlying
Upstream production volumes.
We have started up a series of new oil and gas projects in the last few months…
…in deep water in Brazil, in integrated gas in Australia and in our longer term oil plays such as Iraq.
These new fields are part of a project flow that will grow Shell’s cash flow
both in 2014 and onwards beyond that.
This comes alongside a reduction in net spending next year as we work through a series
of acquisitions and we increase the pace of our asset sales.
I expect 2013 will be a peak year in our net capital investment.
Our business strategy aims to grow cash flow on a sustainable basis
through the business cycle.
We have clear targets for financial growth, and they are underpinned by capital investment,
with strict investment hurdles, all seeking to add value for shareholders…
…and this robust balance sheet underpins the financial framework.
Dividends are Shell’s main route for returning cash to shareholders.
We have distributed more than $11 billion of dividends in the last 12 months alone.
So far this year we have also repurchased more than $4 billion of shares
and we are on track for up to 5 billion dollars of share buybacks in the 2013 calendar year.
Now this all underlines our commitment to shareholder returns.
Thank you for listening.
Webcasts & presentations
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc, will host an audio webcast of the third quarter results on Thursday October 31, 2013, at 13:30 GMT (14:30 CET/09:30 EDT).
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