Shell plc 1st quarter 2025 unaudited results
Shell plc1st quarter 2025 unaudited results summary of unaudited results quarters $ million q1 2025 q4 2024 q1 2024 %¹ reference 4,780 928 7,358 +415 income/(loss) attributable to shell plc shareholders 5,577 3,661 7,734 +52 adjusted earnings a 15,250 14,281 18,711 +7 adjusted ebitda a 9,281 13,162 13,330 -29 cash flow from operating activities (3,959) (4,431) (3,528) cash flow from investing activities 5,322 8,731 9,802 free cash flow g 4,175 6,924 4,493 cash capital expenditure c 8,575 9,401 8,997 -9 operating expenses f 8,453 9,138 9,054 -7 underlying operating expenses f 10.4% 11.3% 12.0% roace d 76,511 77,078 79,931 total debt e 41,521 38,809 40,513 net debt e 18.7% 17.7% 17.7% gearing e 2,838 2,815 2,911 +1 oil and gas production available for sale (thousand boe/d) 0.79 0.15 1.14 +427 basic earnings per share ($) 0.92 0.60 1.20 +53 adjusted earnings per share ($) b 0.3580 0.3580 0.3440 — dividend per share ($) 1.q1 on q4 change quarter analysis1 income attributable to shell plc shareholders, compared with the fourth quarter 2024, reflected lower exploration well write-offs, lower operating expenses and higher products margins. first quarter 2025 income attributable to shell plc shareholders also included a charge of $0.5 billion related to the uk energy profits levy and impairment charges.
