Fourth quarter 2014 summary of unaudited results

  • Royal Dutch Shell’s fourth quarter 2014 earnings, on a current cost of supplies (CCS) basis (see Note 2), were $4.2 billion compared with $2.2 billion for the same quarter a year ago. Full year 2014 CCS earnings were $19.0 billion compared with $16.7 billion in 2013.
  • Fourth quarter 2014 CCS earnings excluding identified items (see page 6) were $3.3 billion compared with $2.9 billion for the fourth quarter 2013, an increase of 12%. Full year 2014 CCS earnings excluding identified items were $22.6 billion compared with $19.5 billion in 2013.
  • Compared with the fourth quarter 2013, CCS earnings excluding identified items benefited from improved Downstream results reflecting steps taken by the company to improve financial performance and the industry environment. In Upstream, earnings benefited from increased high-margin liquids production volumes and improved operational performance, and lower well write-offs. These items were more than offset by lower oil prices. Upstream earnings excluding identified items were impacted by $330 million related to an increase of a deferred tax liability as a result of the weakening Australian dollar.
  • Fourth quarter 2014 basic CCS earnings per share excluding identified items increased by 13% versus the fourth quarter 2013. Full year 2014 basic CCS earnings per share excluding identified items increased by 15% versus 2013.
  • Total cash dividends paid to shareholders in the fourth quarter 2014 were $3.0 billion. During the fourth quarter some 27.4 million shares were bought back for cancellation for a consideration of $1.0 billion.
  • Gearing at the end of 2014 was 12.2% compared with 16.1% at the end of 2013.
  • A fourth quarter 2014 dividend has been announced of $0.47 per ordinary share and $0.94 per American Depositary Share (“ADS”), an increase of 4% compared with the fourth quarter 2013.
  • Royal Dutch Shell is expected to announce a dividend of $0.47 per ordinary share and $0.94 per American Depositary Share (“ADS”) in respect of the first quarter 2015.
Ben van Beurden

CEO statement

“Our strategy is delivering with good performance on our three themes of financial performance, capital efficiency and project delivery. These will remain Shell’s priorities in 2015, as we continue to balance growth and returns.”

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