Royal Dutch Shell fourth quarter 2019 resultsShell plc
On Thursday January 30, 2020 at 07.00 GMT (08.00 CET and 02.00 EST) Royal Dutch Shell plc released its fourth quarter, full year results and fourth quarter interim dividend announcement for 2019.
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc and Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc host audio webcasts of the fourth quarter 2019 results on Thursday January 30, 2020.
See https://www.shell.com/results for more information.
The global liquefied natural gas (LNG) market has continued to defy expectations, growing by 29 million tonnes in 2017, according to Shell's latest LNG Outlook. Based on current demand projections, Shell sees potential for a supply shortage developing in the mid-2020s, unless new LNG production project commitments are made soon.
Royal Dutch Shell fourth quarter 2019 resultsShell plc
On Thursday January 30, 2020 at 07.00 GMT (08.00 CET and 02.00 EST) Royal Dutch Shell plc released its fourth quarter, full year results and fourth quarter interim dividend announcement for 2019.
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc and Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc host audio webcasts of the fourth quarter 2019 results on Thursday January 30, 2020.
See https://www.shell.com/results for more information.
The global liquefied natural gas (LNG) market has continued to defy expectations, growing by 29 million tonnes in 2017, according to Shell's latest LNG Outlook. Based on current demand projections, Shell sees potential for a supply shortage developing in the mid-2020s, unless new LNG production project commitments are made soon.
Shell responsible investor briefing in London – April 16, 2018Shell plc
Ben van Beurden, Chief Executive Officer, Hans Wijers, Non-Executive Director and Chair of the Corporate and Social Responsibility Committee, Harry Brekelmans, Projects & Technology Director, Donny Ching, Legal Director, and Maarten Wetselaar, Integrated Gas & New Energies Director, presented in London during the annual responsible investors briefing.
Royal Dutch Shell plc second quarter 2020 resultsShell plc
On Thursday July 30, 2020 Royal Dutch Shell plc released its second quarter results and second interim dividend announcement for 2020.
Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) hosted a teleconference and audio webcast of the second quarter 2020 results on Thursday July 30, 2020.
Royal Dutch Shell plc - Enhanced disclosures webcastShell plc
On Tuesday, May 4 Tjerk Huysinga, Executive Vice President Investor Relations, Sinead Gorman, Executive Vice President Finance Upstream, Brian Eggleston, Executive Vice President Finance Downstream, Frank Lemmink, Executive Vice President Finance Integrated Gas and Renewables and Energy Solutions and Roland Ilube, Senior Vice President Finance Mobility host an enhanced quarterly disclosures webcast.
Royal Dutch Shell third quarter 2019 resultsShell plc
On Thursday October 31, 2019 at 07.00 GMT (08.00 CET and 03.00 EDT) Royal Dutch Shell plc released its third quarter results and third quarter interim dividend announcement for 2019.
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc hosted a live audio webcast of the third quarter 2019 results.
The full results can be found on https://www.shell.com/results
On Thursday February 3ʳᵈ 2022 at 07:00 GMT (08:00 CET and 02:00 EST) Shell plc will release its fourth quarter results and fourth quarter interim dividend announcement for 2021.
Shell responsible investor briefing in London – April 16, 2018Shell plc
Ben van Beurden, Chief Executive Officer, Hans Wijers, Non-Executive Director and Chair of the Corporate and Social Responsibility Committee, Harry Brekelmans, Projects & Technology Director, Donny Ching, Legal Director, and Maarten Wetselaar, Integrated Gas & New Energies Director, presented in London during the annual responsible investors briefing.
The Shell LNG Outlook, launched in London on February 20th, is an assessment of the global liquefied natural gas (LNG) market. It finds that China and India were two of the fastest growing buyers, with the number of LNG importers worldwide up to 35, from 10 at the start of the century.
Read the Shell LNG Outlook in full at http://www.shell.com/lngoutlook
Shell gives green light to invest in LNG CanadaShell plc
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc and Maarten Wetselaar, Integrated Gas & New Energies Director, will host a live audio webcast on Tuesday October 2, 2018 at 14:00 BST (15:00 CEST / 09:00 EDT / 06:00 PDT) about the final investment decision (FID) on LNG Canada on October 2, 2018.
Royal Dutch Shell plc first quarter 2017 results analyst webcast presentationShell plc
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc hosted a live audio webcast of the first quarter 2017 results on Thursday May 4, 2017 at 13:30 BST (14:30 CEST / 08:30 EDT).
For more information, see http://www.shell.com/results
Simon Henry - Société Générale in Paris - 3 December 2010Shell plc
Simon Henry, Chief Financial Officer at Royal Dutch Shell, presented an overview of the Shell group strategy at the Premium Conference of Société Générale in Paris on 3 December 2010.
Royal Dutch Shell plc capital markets day 2016 Shell plc
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live analyst video webcast of the Capital Markets Day on Tuesday June 7, 2016, providing an update on the company’s strategy, that sets a clear course for stronger returns and free cash flow.
Royal Dutch Shell plc first quarter 2016 results presentationsShell plc
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc hosted media and analyst audio webcasts of the first quarter 2016 results on Wednesday May 4, 2016.
Royal Dutch Shell plc 2016 Management Day Shell plc
Royal Dutch Shell plc provided an update on the company during Management Day on Tuesday November 8, 2016. Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live audio webcast of Management Day.
Royal Dutch Shell plc third quarter 2016 results analyst webcast presentationShell plc
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc will host a live audio webcast of the third quarter 2016 results on Tuesday November 1, 2016.
Socially responsible investors briefing in London, April 14, 2015Shell plc
Ben van Beurden, Chief Executive Officer and Chad Holliday, Non-Executive Director and Chairman of the Corporate and Social Responsibility Committee presented to Shell’s socially responsible investors in London during the annual socially responsible investors briefing. The event also included a short presentation on climate change.
Royal Dutch Shell plc Downstream Open House webcastShell plc
John Abbott, Downstream Director of Royal Dutch Shell plc host s a live analyst video webcast of the Downstream Open House for investors on Wednesday March 21, 2018 10:30 GMT (11:30 CET / 06:30 EST).
The Downstream Open House day has been designed to:
- Gain a better understanding of the Shell Downstream business and what sets us apart
- Hear new disclosures relating to investment, growth and new revenue streams
- Find out why our Downstream business remains resilient to crude prices and economic cycles
- Engage in open and focused dialogue with the Shell Downstream Leadership Team
John Abbott will be joined by: Huibert Vigeveno, EVP Global Commercial; István Kapitány, EVP Retail; Lori Ryerkerk, EVP Manufacturing; Andrew Smith, EVP Trading & Supply; Graham van’t Hoff, EVP Chemicals; Bjorn Fermin, EVP Downstream Finance; and Gerard Penning, EVP Downstream Human Resources.
Royal Dutch Shell plc third quarter 2020 resultsShell plc
On Thursday October 29, 2020 Royal Dutch Shell plc released its third quarter results and third interim dividend announcement for 2020.
Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) host a results analyst webcast of the third quarter 2020 results.
Shell responsible investor briefing in London – April 16, 2018Shell plc
Ben van Beurden, Chief Executive Officer, Hans Wijers, Non-Executive Director and Chair of the Corporate and Social Responsibility Committee, Harry Brekelmans, Projects & Technology Director, Donny Ching, Legal Director, and Maarten Wetselaar, Integrated Gas & New Energies Director, presented in London during the annual responsible investors briefing.
Royal Dutch Shell plc second quarter 2020 resultsShell plc
On Thursday July 30, 2020 Royal Dutch Shell plc released its second quarter results and second interim dividend announcement for 2020.
Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) hosted a teleconference and audio webcast of the second quarter 2020 results on Thursday July 30, 2020.
Royal Dutch Shell plc - Enhanced disclosures webcastShell plc
On Tuesday, May 4 Tjerk Huysinga, Executive Vice President Investor Relations, Sinead Gorman, Executive Vice President Finance Upstream, Brian Eggleston, Executive Vice President Finance Downstream, Frank Lemmink, Executive Vice President Finance Integrated Gas and Renewables and Energy Solutions and Roland Ilube, Senior Vice President Finance Mobility host an enhanced quarterly disclosures webcast.
Royal Dutch Shell third quarter 2019 resultsShell plc
On Thursday October 31, 2019 at 07.00 GMT (08.00 CET and 03.00 EDT) Royal Dutch Shell plc released its third quarter results and third quarter interim dividend announcement for 2019.
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc hosted a live audio webcast of the third quarter 2019 results.
The full results can be found on https://www.shell.com/results
On Thursday February 3ʳᵈ 2022 at 07:00 GMT (08:00 CET and 02:00 EST) Shell plc will release its fourth quarter results and fourth quarter interim dividend announcement for 2021.
Shell responsible investor briefing in London – April 16, 2018Shell plc
Ben van Beurden, Chief Executive Officer, Hans Wijers, Non-Executive Director and Chair of the Corporate and Social Responsibility Committee, Harry Brekelmans, Projects & Technology Director, Donny Ching, Legal Director, and Maarten Wetselaar, Integrated Gas & New Energies Director, presented in London during the annual responsible investors briefing.
The Shell LNG Outlook, launched in London on February 20th, is an assessment of the global liquefied natural gas (LNG) market. It finds that China and India were two of the fastest growing buyers, with the number of LNG importers worldwide up to 35, from 10 at the start of the century.
Read the Shell LNG Outlook in full at http://www.shell.com/lngoutlook
Shell gives green light to invest in LNG CanadaShell plc
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc and Maarten Wetselaar, Integrated Gas & New Energies Director, will host a live audio webcast on Tuesday October 2, 2018 at 14:00 BST (15:00 CEST / 09:00 EDT / 06:00 PDT) about the final investment decision (FID) on LNG Canada on October 2, 2018.
Royal Dutch Shell plc first quarter 2017 results analyst webcast presentationShell plc
Jessica Uhl, Chief Financial Officer of Royal Dutch Shell plc hosted a live audio webcast of the first quarter 2017 results on Thursday May 4, 2017 at 13:30 BST (14:30 CEST / 08:30 EDT).
For more information, see http://www.shell.com/results
Simon Henry - Société Générale in Paris - 3 December 2010Shell plc
Simon Henry, Chief Financial Officer at Royal Dutch Shell, presented an overview of the Shell group strategy at the Premium Conference of Société Générale in Paris on 3 December 2010.
Royal Dutch Shell plc capital markets day 2016 Shell plc
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live analyst video webcast of the Capital Markets Day on Tuesday June 7, 2016, providing an update on the company’s strategy, that sets a clear course for stronger returns and free cash flow.
Royal Dutch Shell plc first quarter 2016 results presentationsShell plc
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc hosted media and analyst audio webcasts of the first quarter 2016 results on Wednesday May 4, 2016.
Royal Dutch Shell plc 2016 Management Day Shell plc
Royal Dutch Shell plc provided an update on the company during Management Day on Tuesday November 8, 2016. Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live audio webcast of Management Day.
Royal Dutch Shell plc third quarter 2016 results analyst webcast presentationShell plc
Simon Henry, Chief Financial Officer of Royal Dutch Shell plc will host a live audio webcast of the third quarter 2016 results on Tuesday November 1, 2016.
Socially responsible investors briefing in London, April 14, 2015Shell plc
Ben van Beurden, Chief Executive Officer and Chad Holliday, Non-Executive Director and Chairman of the Corporate and Social Responsibility Committee presented to Shell’s socially responsible investors in London during the annual socially responsible investors briefing. The event also included a short presentation on climate change.
Royal Dutch Shell plc Downstream Open House webcastShell plc
John Abbott, Downstream Director of Royal Dutch Shell plc host s a live analyst video webcast of the Downstream Open House for investors on Wednesday March 21, 2018 10:30 GMT (11:30 CET / 06:30 EST).
The Downstream Open House day has been designed to:
- Gain a better understanding of the Shell Downstream business and what sets us apart
- Hear new disclosures relating to investment, growth and new revenue streams
- Find out why our Downstream business remains resilient to crude prices and economic cycles
- Engage in open and focused dialogue with the Shell Downstream Leadership Team
John Abbott will be joined by: Huibert Vigeveno, EVP Global Commercial; István Kapitány, EVP Retail; Lori Ryerkerk, EVP Manufacturing; Andrew Smith, EVP Trading & Supply; Graham van’t Hoff, EVP Chemicals; Bjorn Fermin, EVP Downstream Finance; and Gerard Penning, EVP Downstream Human Resources.
Royal Dutch Shell plc third quarter 2020 resultsShell plc
On Thursday October 29, 2020 Royal Dutch Shell plc released its third quarter results and third interim dividend announcement for 2020.
Ben van Beurden, (CEO, Royal Dutch Shell plc) and Jessica Uhl (CFO, Royal Dutch Shell plc) host a results analyst webcast of the third quarter 2020 results.
Royal Dutch Shell plc second quarter 2016 results webcast presentationShell plc
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosted a live audio webcast of the second quarter 2016 results on Thursday July 28, 2016
Royal Dutch Shell plc Brazil shareholder visit 2016Shell plc
On 9, 10, 11 November 2016, Shell holds a field visit for shareholders in Brazil. During the visit, shareholders attend presentations given by senior Shell representatives, which focus on Shell’s operations in Brazil.
Shell scenarios, modelling and decision-makingShell plc
Presentation by Guy Outen (EVP Strategy and Portfolio) and Wim Thomas (Chief Energy Adviser) on September 8, 2017, providing an overview of how Shell quantifies scenarios, using its own detailed energy models, and their use in strategy setting and portfolio decision-making.
Ben van Beurden, Chief Executive Officer of Royal Dutch Shell plc hosts a video webcast of the fourth quarter 2014 and full year results on Thursday January 29, 2015.
See http://www.shell.com/results for more information.
Peter Voser, CEO of Royal Dutch Shell, presented the Royal Dutch Shell fourth quarter 2012 results and Strategy update to Analysts on January 31, 2013.
Collective Mining | Corporate Presentation - May 2024
Royal Dutch Shell plc first quarter 2018 results webcast presentation
1. Royal Dutch Shell April 26, 2018
Royal Dutch Shell plc
April 26, 2018
First quarter 2018 results
Delivering a world-class investment case
#makethefuture
2. Royal Dutch Shell April 26, 2018
Jessica Uhl
Chief Financial Officer
Royal Dutch Shell
3. Royal Dutch Shell April 26, 2018 3
Definitions &
cautionary note
Reserves: Our use of the term “reserves” in this presentation means SEC proved oil and gas reserves. Resources: Our use of the term “resources” in this presentation includes quantities of oil and gas not yet classified as SEC
proved oil and gas reserves. Resources are consistent with the Society of Petroleum Engineers (SPE) 2P + 2C definitions.
The Mountains and Oceans scenarios are based on plausible assumptions and quantification, and they are designed to stretch management thinking and even to consider events that may only be remotely possible. Scenarios
therefore, are not intended to be prediction of likely future events or outcomes. Accordingly, investors should not rely on them when making an investment decision with regard to Royal Dutch Shell plc securities.
Operating costs are defined as underlying operating expenses, which are operating expenses less identified items. Organic free cash flow is defined as free cash flow excluding inorganic capital investment and divestment
proceeds. Unit costs for Refining and Trading are defined as operating expenses divided by refinery intake volumes. Yield on costs for Marketing are defined as CCS earnings excluding identified items divided by operating
expenses. Integrated indicative margin is defined as a theoretical margin available to be captured by our integrated portfolio of Refining and Trading assets excluding portfolio impact. Breakeven margin is defined as minimum
integrated margin required for zero earnings in Refining and Trading. Gross margin is defined as net proceeds less cost of goods sold, on a CCS basis, and primary transport expenses. Income per site is defined as ratio of
CCS earnings excluding identified items to the total number of Retail branded sites. Sales by region is defined as sales volumes across each of the regions Americas, East and Europe & Africa. Earnings per FTE is defined as
ratio of CCS earnings excluding identified items to the number of employees in Lubricants, Aviation and Specialties. Clean CCS ROACE (Return on Average Capital Employed) is defined as defined as the sum of CCS earnings
attributable to shareholders excluding identified items for the current and previous three quarters, as a percentage of the average capital employed for the same period. Capital employed consists of total equity, current debt
and non-current debt. Capital investment comprises capital expenditure, exploration expense excluding well write-offs, new investments in joint ventures and associates, new finance leases and investments in Integrated Gas,
Upstream and Downstream equity securities, all of which on an accruals basis. Divestments comprises proceeds from sale of property, plant and equipment and businesses, joint ventures and associates, and other Integrated
Gas, Upstream and Downstream investments, reported in “Cash flow from investing activities (CFFI)”, adjusted onto an accruals basis and for any share consideration received or contingent consideration recognised upon
divestment, as well as proceeds from the sale of interests in entities while retaining control (for example, proceeds from sale of interest in Shell Midstream Partners, L.P.), This presentation contains the following forward-looking
Non-GAAP measures: Organic Free Cash Flow, Free Cash Flow, Capital Investment, CCS Earnings less identified items, Operating Expenses, ROACE, Capital Employed and Divestments. We are unable to provide a
reconciliation of the above forward-looking Non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile the above Non-GAAP measure to the most comparable
GAAP financial measure is dependent on future events some which are outside the control of the company, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures consistent
with the company accounting policies and the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in
respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Royal Dutch Shell plc’s financial
statements. The forward-looking breakeven price (BEP) presented for Vito is calculated based on all forward-looking costs associated from FID. Accordingly, this typically excludes exploration and appraisal costs, lease
bonuses, exploration seismic and exploration team overhead costs. The forward-looking breakeven price is calculated based on our estimate of resources volumes that are currently classified as 2p and 2c under the Society of
Petroleum Engineers’ Resource Classification System. As this project is expected to be multi-decade producing, the less than $35 per barrel projection will not be reflected either in earnings or cash flow in the next five years.
The financial measures provided by strategic themes represent a notional allocation of ROACE, capital employed, capital investment, free cash flow, organic free cash flow and underlying operating expenses of Shell’s strategic
themes. Shell’s segment reporting under IFRS 8 remains Integrated Gas, Upstream, Downstream and Corporate.
The companies in which Royal Dutch Shell plc directly and indirectly owns investments are separate legal entities. In this presentation “Shell”, “Shell group” and “Royal Dutch Shell” are sometimes used for convenience where
references are made to Royal Dutch Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Royal Dutch Shell plc and subsidiaries in general or to those who work for them.
These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this presentation refer to entities over which
Royal Dutch Shell plc either directly or indirectly has control. Entities and unincorporated arrangements over which Shell has joint control are generally referred to as “joint ventures” and “joint operations”, respectively. Entities
over which Shell has significant influence but neither control nor joint control are referred to as “associates”. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell
in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.
This presentation contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Royal Dutch
Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current
expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-
looking statements include, among other things, statements concerning the potential exposure of Royal Dutch Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections
and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition’, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’,
‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. There are a number of factors that could affect the future operations of Royal
Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this presentation, including (without limitation): (a) price fluctuations in crude oil and natural gas;
(b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks; (h) risks
associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject
to international sanctions; (j) legislative, fiscal and regulatory developments including regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political
risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; and (m)
changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this presentation are expressly qualified in
their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in
Royal Dutch Shell’s 20-F for the year ended December 31, 2017 (available at www.shell.com/investor and www.sec.gov ). These risk factors also expressly qualify all forward looking statements contained in this presentation
and should be considered by the reader. Each forward-looking statement speaks only as of the date of this presentation, April 26, 2018. Neither Royal Dutch Shell plc nor any of its subsidiaries undertake any obligation to
publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the
forward-looking statements contained in this presentation. We may have used certain terms, such as resources, in this presentation that United States Securities and Exchange Commission (SEC) strictly prohibits us from
including in our filings with the SEC. U.S. Investors are urged to consider closely the disclosure in our Form 20-F, File No 1-32575, available on the SEC website www.sec.gov
4. Royal Dutch Shell April 26, 2018 4
Summary
Divestments: headline, cash proceeds in 2016 + 2017 + Q1 2018: $18.1 billion (in CFFI), $2.1 billion related to Shell Midstream Partners, L.P. (in CFFF)
Q1 2018
Strong results
Underlying growth continues
Portfolio reshaping
Divestments: $26 billion completed (headline)
Resilience and growth
Financial framework
Cash priorities unchanged
Capital discipline unchanged
Thrive in
the energy
transition
World-class
investment case
Strong
license
to operate
5. Royal Dutch Shell April 26, 2018 5
Q1 2018
Financial
highlights
Earnings and ROACE on CCS basis, excluding identified items. Dividend distributed to RDS shareholders
$ billion
Earnings Q1 2017 to Q1 2018$ billion Q1 2017 Q1 2018
Upstream 0.5 1.6
Integrated Gas 1.2 2.4
Downstream (CCS) 2.5 1.7
Corporate &
non-controlling interest
~(0.5) ~(0.4)
CCS earnings 3.8 5.3
CCS earnings, $ per share 0.46 0.64
Cash flow from
operations
9.5 9.4
Free cash flow 5.2 5.2
Dividend 3.9 4.0
ROACE (%) 3.3 6.0
6. Royal Dutch Shell April 26, 2018 6
Q1 2018
Earnings and
cash flow from
operations
Earnings on CCS basis, excluding identified items
Cash flow from operations excluding working capital
Cash flow from operations excluding working capital – 4 quarters rolling (RHS)
Average Brent oil price - 4 quarters rolling ($/bbl)
Earnings
$ billion $ billion
86 48 49 57
#
7. Royal Dutch Shell April 26, 2018 7
Q1 2018
Integrated Gas
performance
Earnings and ROACE on CCS basis, excluding identified items. 2016 Free cash flow excludes cash element of BG acquisition
$ billion
Earnings and ROACE
Million tonnes
LNG liquefaction volumes
$ billion
Free cash flow and cash flow from operations
Million tonnes
LNG sales volumes
ROACE (RHS)Earnings Free cash flowCash flow from operations
%
+50%
+75%
8. Royal Dutch Shell April 26, 2018
$ billion
MLP cash proceeds ~0.7
Iraq West Qurna 1 ~0.6
Oman - Mukhaizna ~0.3
Others ~0.3
8
Q1 2018
Divestment
headlines
Divestments: headline, cash proceeds in Q1 2018: $0.8 billion (in CFFI), $0.7 billion related to Shell Midstream Partners, L.P. (in CFFF)
Completions – Q1 2018 + April 2018
$ billion
DS Argentina ~1.0
Bongkot - Thailand ~0.8
New Zealand ~0.6
Announcements – Q1 2018 + April 2018
9. Royal Dutch Shell April 26, 2018
Leading in transparency
RDS reporting
2018 progress
Disclosures aligned to Task Force on Climate-related Financial Disclosures (TCFD)
“Shell Energy Transition report” published
Annual report: additional disclosures on climate change risk and strategy
“Sky – meeting the goals of the Paris agreement” scenario published
Strategic ambition –
Thrive in the energy
transition
9
10. Royal Dutch Shell April 26, 2018 10
Portfolio reshaping
Downstream
Earnings on CCS basis, excluding identified items
Earnings per region
Geographical exposure
$ billion
Marketing – earnings growth to 2025
% of feedstock
Chemicals – feedstock exposure
$ per barrel
Refining & Trading – breakeven margin
2025
East Europe & Africa Americas
2017 2021 2025
Oil Gas
By 2025:
Organic FCF:
$9-12 billion (+50%)
Capital employed:
+30%
ROACE >15%
Global commercialRetail
11. Royal Dutch Shell April 26, 2018
2015-20: 50% supply capacity growth
50% of new supply capacity already in operation
2017: supply growth matched by solid demand
Supply/demand gap emerging early 2020’s
Industry FIDs challenged
11
Portfolio reshaping
Integrated Gas
Source: Shell interpretation of IHS Markit, Wood Mackenzie, FGE, BNEF and Poten & Partners Q4 2017 data
MTPA (DES)
LNG supply/demand gap
LNG Canada
Lake Charles
Abadi
Browse
Tanzania
Sakhalin
expansion
Nigeria LNG
expansion
Baltic LNG
Mozambique GTL
In-/Post-FEED
Pre-FEED
LNG supply in operation
LNG supply under construction
Demand forecasts
Competitive pre-FID
opportunities in all
supply basins
12. Royal Dutch Shell April 26, 2018 12
Portfolio reshaping
Upstream
Pre-FID options
& recent FIDs
Individual project volumes are Shell’s current estimates of total gross peak production; sum is estimate of Shell share production at peak excluding shales
Pre-FID options for 2018-2022. Brazil FPSOs: production shown is FPSO oil capacity as per operator
Penguins redevelopment
▪ 45 kboe/d
▪ Shell 50%
WDDM 9B
▪ 60 kboe/d
▪ Shell 50%
Gumusut-Kakap Ph2
▪ 50 kboe/d
▪ Shell 30.4%
Tyra future
▪ 75 kboe/d
▪ Shell 37%
Pegaga
▪ 95 kboe/d
▪ Shell 20%
Vito
▪ 100 kboe/d
▪ Shell 63.11%
Mero (Libra) 1
▪ 180 kboe/d
▪ Shell 20%
Mero (Libra) 2
▪ ~180 kboe/d
▪ Shell 20%
Argentina
shales options
North America
shales options
Bonga South West
▪ 175 kboe/d
▪ Shell 42.95%
Val D’Agri Ph2
▪ 65 kboe/d
▪ Shell 39%
Pierce Depressurisation
▪ 25 kboe/d
▪ Shell 92.52%
HI development
▪ 75 kboe/d
▪ Shell 40%
Gbaran Ph3
▪ 50 kboe/d
▪ Shell 30%
Marjoram/Rosmari
▪ 60 kboe/d
▪ Shell 75%
Bonga main life extension
▪ 90 kboe/d
▪ Shell 55%
Clair South
▪ 60 kboe/d
▪ Shell 28%
Ormen Lange Late Life
recovery
▪ 60 kboe/d
▪ Shell 18%
Assa North
▪ 60 kboe/d
▪ Shell 30%
Uzu development
▪ 45 kboe/d
▪ Shell 30%
Kashagan CC01
▪ 100 kboe/d
▪ Shell 17%
KGK expansion Ph1
▪ 40 kboe/d
▪ Shell 29%
Pearls Khazar
▪ 40 kboe/d
▪ Shell 55%
Kalamkas
▪ 55 kboe/d
▪ Shell 17%
Jackdaw
▪ 40 kboe/d
▪ Shell 74%
Troll Ph3
▪ 255 kboe/d
▪ Shell 8.1%
SK408
▪ 75 kboe/d
▪ Shell 30%
✓ FID taken since Nov 2017 Management Day
✓
✓
✓
✓
Mexico bid round
Brazil bid round
Potential:
Recent FIDs:
>200 kboe/d
pre-FID options:
>550 kboe/d
2 successful bid
rounds
Whale discovery
✓
✓
✓
✓
Jerun
▪ 95 kboe/d
▪ Shell 30%
Mero (Libra) 3+4
▪ ~TBD kboe/d
▪ Shell 20%
13. Royal Dutch Shell April 26, 2018 13
Deep water
Vito – final
investment
decision
Vito
~100 kboe/day peak production1
~300 mln boe current estimated
recoverable resources1
Shell-operated (63.11%)
Sustained capital efficiency
Economically resilient: <$35 per barrel
forward-looking break-even price
Simpler, smaller, and safer to operate
Supply chain collaboration
A leading IOC position
Strong capabilities and advantaged portfolio
Delivering competitive growth
Targeting Vito
first oil in 2021
Perdido
Stones
Auger
Ram Powell
Appomattox
Coulomb
NaKika
Olympus
Mars
Ursa
Kaikias
Whale
VITO
Enchilada
Salsa
Operating
Under Construction
Exploration
1: 100% total gross
14. Royal Dutch Shell April 26, 2018 14
World-class investment case
Cash flow
priorities
*subject to further progress with debt reduction and oil price conditions
Priorities
for cash
Debt reduction Dividends
Buybacks
& capital
investment
1 2 3
Continue to reduce
gearing to 20%
Cancel scrip dividend Buy back shares
Progress towards a world-class investment case
Increase shareholder distributions
At least $25 billion*
buyback over
2018 - 2020
15. Royal Dutch Shell April 26, 2018
Capital investment
Dividend
Interest
Net debt reduction
to 20% gearing
Buybacks*
Divestment
proceeds
CFFO
Surplus
CFFO
15
Financial framework
Cash allocation
*subject to further progress with debt reduction and oil price conditions. 20% as a proxy for AA equivalent credit metrics
Delivering on the BG post-
offer intention statements
Buyback intention unchanged: at least $25 billion
over 2018-2020
$25-30 billion p.a., organic + inorganic
Lower part of the range in 2018
$3.5-4 billion expected in 2018
24.7% as of Q1’18
$4 billion cash payment in Q1’18 (Q4’17 dividend, no scrip)
16. Royal Dutch Shell April 26, 2018 16
Financial framework
Free cash flow
performance and
payout
* 2016 RT $60 per barrel, mid-cycle Downstream **subject to further progress with debt reduction and oil price conditions
2014 cash dividend includes $3.3bln share buy backs, more than offsetting scrip issuance of $2.4bln.
$ billion
Distributions from free cash flow
Organic FCF
Divestment proceeds less acquisitions
Cash dividend
Scrip dividend Interest paid
$99/bbl $57/bbl $60/bbl*
2014 18Q1
4Q rolling
2019-2021
average
Financial
transformation
2014-2017
2019-2021 average:
FCF $30-35 billion
At least $25 billion**
buyback over
2018 - 2020
17. Royal Dutch Shell April 26, 2018
Financial framework
Capital discipline
supporting
growth
Excludes BG acquisition in 2016; historical BG capital investment is based on BG’s published Annual Report
Capital investment
$ billion
Capital investment
$ billion
Capital investment
$ billion (p.a.) 2018 – 2020
Oil products 4-5
Conventional
oil + gas
4-5
Integrated gas 4-5
Deep water 5-6
Chemicals 3-4
Shales 2-3
New energies 1-2
Total 25-30
17
-$12 billion
Shell
BG
30
25
$25 – 30 billion
organic + inorganic
2018: lower part of
the range
Non- and little discretionary spend
Small scale and large value growth options
Capital investment
p.a. 2018-’20
Cash engines
Growth priorities
Emerging opportunities
18. Royal Dutch Shell April 26, 2018
$ billion
18
Financial framework
Divestments +
net debt
Divestments: headline, cash proceeds in 2016 + 2017 + Q1 2018: $18.1 billion (in CFFI), $2.1 billion related to Shell Midstream Partners, L.P. (in CFFF)
$ billion
Divestment headlines – since Q1 2016
Net debt + gearing
$ billion
Divestment + MLP cash proceeds – since Q1 2016
Net debt Gearing (RHS)
Cumulative cash proceeds Range
%
Rule of thumb:
+/-$10/bbl Brent =
+/-$6 billion CFFO
-$13.4 billion
19. Royal Dutch Shell April 26, 2018 19
Summary
Divestments: headline, cash proceeds in 2016 + 2017 + Q1 2018: $18.1 billion (in CFFI), $2.1 billion related to Shell Midstream Partners, L.P. (in CFFF)
Q1 2018
Strong results
Underlying growth continues
Portfolio reshaping
Divestments: $26 billion completed (headline)
Resilience and growth
Financial framework
Cash priorities unchanged
Capital discipline unchanged
Thrive in
the energy
transition
World-class
investment case
Strong
license
to operate
20. Royal Dutch Shell April 26, 2018 20
Questions & Answers
Jessica Uhl
Chief Financial Officer
Royal Dutch Shell April 26, 2018
21. Royal Dutch Shell April 26, 2018
Q2 2018
Outlook
Q2 – Q2 Outlook: year-ago baseline reflects Shell’s earnings seasonality
Integrated gas
Production volumes: positive impact of ~140-160 thousand boe/d, mainly due to lower maintenance.
Liquefaction volumes are expected to be at similar level
Upstream
Production volumes: reduction of ~230-260 thousand boe/d, mainly due to portfolio impacts, higher maintenance, lower
production at NAM in the Netherlands and field decline more than offsetting project start-ups
Downstream
Oil products sales volumes increase of ~70 thousand boe/d as result of separation of Motiva, partly offset by completed
divestments
Refinery availability to decrease
Chemicals availability to increase
2018 OUTLOOK:
Corporate segment: net charge of $300 – 350 million in Q2; $1.4 – 1.6 billion for the full year, excluding the impact of
currency exchange rate effects and interest rate movements
21
22. Royal Dutch Shell April 26, 2018
Q1 2018
Prices & margins $/barrel
Shell oil & gas realisations
$/barrel
Industry refining margins
$/tonne
Industry chemicals margins
US ethane
Western Europe naphtha
NE/SE Asia naphtha
US West Coast
US Gulf Coast coking
Rotterdam complex
Singapore
Oil
Gas (RHS)
22
$/mscf
23. Royal Dutch Shell April 26, 2018 23
Q1 2018
Integrated Gas
results
$ billion
Earnings Q1 2017 to Q1 2018
Environment Choice
Earnings on CCS basis, excluding identified items
24. Royal Dutch Shell April 26, 2018 24
Q1 2018
Upstream results $ billion
Earnings Q1 2017 to Q1 2018
Environment Choice
Earnings on CCS basis, excluding identified items
25. Royal Dutch Shell April 26, 2018 25
Q1 2018
Downstream
results
Earnings on CCS basis, excluding identified items
$ billion
Earnings Q1 2017 to Q1 2018
$ billion
Earnings mix
Marketing
Refining & Trading
Chemicals