TotalEnergies' Q4 2024: A Quarter of Growth and Resilience

TotalEnergies, the global integrated energy company, has released its financial results for the fourth quarter of 2024, showcasing a strong performance amidst a challenging market environment. The company's strategic focus on LNG, oil and gas production, and renewable energy has driven its growth and profitability, as evident in its Q4 2024 financials.



Key Financial Indicators

TotalEnergies' revenue growth rate for Q4 2024 is -0.128, an improvement compared to the previous quarter's growth rate of -0.135 (Q3 2024) and the same quarter last year's growth rate of -0.142 (Q4 2023). The company's EBITDA for Q4 2024 is 9,357,000,000, which is higher than the previous quarter's EBITDA of 5,337,000,000 (Q3 2024) and the same quarter last year's EBITDA of 4,771,000,000 (Q4 2023). TotalEnergies' net income for Q4 2024 is 2,294,000,000, which is higher than the previous quarter's net income of 667,000,000 (Q3 2024) and the same quarter last year's net income of 229,000,000 (Q4 2023).



Drivers of Growth in Oil and Gas Production

The key drivers behind TotalEnergies' growth in oil and gas production are primarily the launch of major LNG projects and the natural decline of oil field production. The company has launched six major LNG projects in 2024, including two in Brazil, Suriname, Angola, Oman, and Nigeria, which have de-risked and extended the company's growth guidance from 2028 to 2030. Additionally, the company plans to start up several high-margin projects in 2025 and 2026, such as in the US Gulf of Mexico, Brazil, Iraq, Uganda, Argentina, Malaysia, and Qatar, which are expected to be accretive in net income per barrel and cash flow per barrel. These projects, along with the natural decline of oil field production, are driving the company's growth in oil and gas production.

LNG Strategy Contribution to Profitability

TotalEnergies' LNG strategy plays a significant role in its overall profitability. The company aims to grow its LNG business by 50% over the period from 2024 to 2030, which is expected to contribute to its profitability in several ways. The launch of six major LNG projects in 2024, along with the start-up of several high-margin LNG projects in the next two years (2025 and 2026), is expected to exceed the average annual growth rate of 3%. These projects are accretive in net income per barrel and cash flow per barrel, contributing significantly to the company's overall profitability.



In conclusion, TotalEnergies' Q4 2024 financials demonstrate the company's resilience and growth potential amidst a challenging market environment. The company's strategic focus on LNG, oil and gas production, and renewable energy has driven its growth and profitability, as evident in its Q4 2024 financials. The launch of major LNG projects and the natural decline of oil field production are the key drivers behind TotalEnergies' growth in oil and gas production. The company's LNG strategy contributes significantly to its overall profitability, with the launch of six major LNG projects in 2024 and the start-up of several high-margin LNG projects in the next two years. TotalEnergies' strong performance in Q4 2024 underscores the company's commitment to delivering value to its shareholders and contributing to the energy transition.