TotalEnergies fourth quarter profit falls, but revenue climbs 

Paris, Feb. 8, (dpa/GNA) - TotalEnergies SE, a French energy and petroleum firm, said on Wednesday its fourth quarter earnings declined, but revenues rose. 

The company posted fourth quarter net income of $3.441 billion or $1.26 per share, compared with $5.903 billion or $2.17 per share posted for the previous year. Adjusted income stood at $7.771 billion against $6.904 billion in 2021. 

Revenue from sales was at $63.953 billion against $55.298 billion from the previous year. The company’s sales moved up to $68.582 billion from last year’s $60.348 billion. 

For fiscal 2022, the board proposed a final dividend of €0.74 ($0.79) per share. For 2023, the company’s shareholder return policy will combine a 7.2% increase to €0.74 per share in interim dividends and share buybacks of $2 billion planned for the first quarter. 

In addition, the company has confirmed its project to spin-off its affiliate, TotalEnergies EP Canada, by listing it on the Toronto stock exchange. The firm intends to retain a 30% stake in the listed entity, and to distribute 70% of the shares to its shareholders, through a special dividend in kind. 

In 2023, the company expects net investments of $16 billion to $18 billion, including $5 billion dedicated to low-carbon energies. 

GNA