Shell Plc · LSE:SHEL
Shell — Q3 2023 Earnings Presentation
15 slides from Shell's earnings presentation, Nov 2, 2023
Slide 1: Third quarter 2023 results
Third quarter 2023 results Consistent performance, supporting enhanced distributions Shell plc November 2, 2023 Shell plc | November 2, 2023
Slide 2: Definitions & cautionary note
Definitions & cautionary note This presentation includes certain measures that are calculated and presented on the basis of methodologies other than in accordance with generally accepted accounting principles (GAAP) such as IFRS, including Adjusted Earnings, Adjusted EBITDA, CFFO excluding working c
Slide 3: Key messages
Q3 2023 Key messages $6.2 billion Higher oil prices and refining margins Adjusted Earnings1 Robust operational performance across Upstream and Performance Integrated Gas $12.3 billion Solid cash performance, with working capital inflow CFFO $23–25 billion Lower cash capex outlook, including inorgani
Slide 4: A pragmatic approach to capital allocation
Financial framework A pragmatic approach to capital allocation Balanced Capital Enhanced Allocation Disciplined Shareholder Distributions Investment 30–40% of CFFO Cash capex: through the cycle $22–25 billion p.a. ~4% progressive dividend annually1 for 2024 and 2025 Total shareholder distributions o
Slide 5: Higher oil prices and refining margins
Macro Higher oil prices and refining margins Shell Indicative Refining Margin (IRM) Oil Gas and Indicative Chemical Margin (ICM) $/bbl $/MMBtu $/bbl $/tonne Brent JCC-3 Henry Hub EU TTF IRM ICM (RHS) 140 80 40 400 30 300 120 60 20 200 100 40 10 100 80 20 0 0 60 0 -10 -100 Shell plc | November 2, 202
Slide 6: Strong financial performance
Financial results Strong financial performance Q3 2023 Q2 2023 Income attributable to Shell plc shareholders $7.0 billion $3.1 billion Adjusted Earnings $6.2 billion $5.1 billion Adjusted EBITDA $16.3 billion $14.4 billion Cash flow from operations $12.3 billion $15.1 billion Cash capital expenditur
Slide 7: Strong financial performance
Financial results Additional information available in the Strong financial performance Q3 2023 Quarterly Press Release Adjusted Earnings Adjusted EBITDA CFFO $ billion Q3 2023 Q2 2023 Q3 2023 Q2 2023 Q3 2023 Q2 2023 Integrated Gas 2.5 2.5 4.9 4.8 4.0 3.6 Upstream 2.2 1.7 7.4 6.4 5.3 4.5 Marketing 0.
Slide 8: Solid cash generation
Financial results Solid cash generation Adjusted Earnings Q2 2023 to Q3 2023 Cash conversion Q3 2023 $ billion Prices & margins: $1.7 billion $ billion $0.4 billion Volume & mix: $0.1 billion 10 20 working capital movement Other: $(0.7) billion 3.7 8 16 (0.0) 0.9 0.1 0.5 3.6 5.9 (2.5) 6 0.5 12 0.0 (
Slide 9: Portfolio updates
2023 delivery For additional portfolio information visit Portfolio updates our investors page on shell.com High-grading Pierce redevelopment Nature Energy acquisition Shell home energy retail businesses (UK, NL and Germany) exit announced Volta acquisition Shell Pakistan Limited(SPL) Savion Aera Ene
Slide 10: Upcoming events and useful links
Upcoming events: Useful links: Feb 1, 2024 Capital Markets Day Q4 2023 results Annual and Quarterly Databook May 2, 2024 Shell Energy Transition Strategy Q1 2024 results ESG performance data Aug 1, 2024 Q2 2024 results War in Ukraine: Shell’s Response Oct 31, 2024 Q3 2024 results Corporate reports:
Slide 11: Slide 11
Slide 12: Performing with purpose Powering Progress
Performing with purpose Our purpose is to power progress together Generating shareholder value by providing more and cleaner energy solutions Respecting Powering Powering nature Progress lives Underpinned by our core values and Achieving net-zero our focus on safety emissions Shell plc | November 2,
Slide 13: The investment case through the energy transition
The investment case through the energy transition Providing Energy Security Committed to oil and gas, with a focus on LNG growth Investing ~$40 billion1 in Leading Integrated Gas & Advantaged Upstream Enabling the Energy Transition Providing molecules to decarbonise the transport and industry sector
Slide 14: Pipeline of major projects
Pipeline of major projects Projects under construction Peak production/Capacity/ Shell share % Country Products Q3 2023 updates: Start-up 2023-2024 First gas from the Timi platform in Malaysia Mero 2 [A] 180 kboe/d 19.3 Brazil Mero 3 [A] 180 kboe/d 19.3 Brazil Whale 100 kboe/d 60 USA Sprng Energy (m
Slide 15: Start-up of Raízen's second E2G plant
Growing our Low Carbon Fuels business Start-up of Raízen’s second E2G plant Shell and Raízen partnership with an integrated value offer Raízen (a listed company with a 44% Shell interest)1 is a leading second-generation ethanol (E2G) producer globally, transforming waste into a high-value product wi