Shell plc 4th quarter 2023 and full year unaudited results
Shell plc4th quarter 2023 and full year unaudited results summary of unaudited results quarters $ million full year q4 2023 q3 2023 q4 2022 %¹ reference 2023 2022 % 474 7,044 10,409 -93 income/(loss) attributable to shell plc shareholders 19,360 42,309 -54 7,306 6,224 9,814 +17 adjusted earnings a 28,250 39,870 -29 16,335 16,336 20,600 — adjusted ebitda a 68,538 84,289 -19 12,575 12,332 22,404 +2 cash flow from operating activities 54,196 68,414 -21 (5,657) (4,827) (6,918) cash flow from investing activities (17,737) (22,448) 6,918 7,505 15,486 free cash flow g 36,460 45,965 7,113 5,649 7,319 cash capital expenditure c 24,393 24,833 10,897 10,097 11,114 +8 operating expenses f 39,959 39,477 +1 10,565 9,735 11,037 +9 underlying operating expenses f 39,201 39,456 -1 8.4% 12.0% 16.7% roace on a net income basis d 8.4% 16.7% 11.6% 12.5% 15.8% roace on an adjusted earnings plus non-controlling interest (nci) basis d 11.6% 15.8% 81,541 82,147 83,795 total debt e 81,541 83,795 43,541 40,470 44,837 net debt e 43,541 44,837 18.8% 17.3% 18.9% gearing e 18.8% 18.9% 2,827 2,706 2,831 +4 total production available for sale (thousand boe/d) 2,791 2,864 -3 0.07 1.06 1.47 -93 basic earnings per share ($) 2.88 5.76 -50 1.11 0.93 1.39 +19 adjusted earnings per share ($) b 4.20 5.43 -23 0.3440 0.3310 0.2875 +4 dividend per share ($) 1.2935 1.0375 +25 1.q4 on q3 change quarter analysis1 income attributable to shell plc shareholders, compared with the third quarter 2023, reflected higher lng trading and optimisation margins, favourable deferred tax movements, and higher production, offset by lower refining margins, lower margins from crude and oil products trading and optimisation, and higher operating expenses. fourth quarter 2023 income attributable to shell plc shareholders also included net impairment charges and reversals ($3.9 billion), and unfavourable movements due to the fair value accounting of commodity derivatives.
