荷兰皇家壳牌Royal Dutch Shell （SHEL）2025年第一季度未审核业绩报告「NYSE」（英文版）（31页）.pdf

1、SHELL PLC1st QUARTER 2025 UNAUDITED RESULTSSUMMARY OF UNAUDITED RESULTSQuarters$millionQ1 2025Q4 2024Q1 2024%Reference 4,780 928 7,358+415Income/(loss)attributable to Shell plc shareholders 5,577 3,661 7,734+52Adjusted EarningsA 15,250 14,281 18,711+7Adjusted EBITDAA 9,281 13,162 13,330-29Cash flow

2、from operating activities(3,959)(4,431)(3,528)Cash flow from investing activities 5,322 8,731 9,802 Free cash flowG 4,175 6,924 4,493 Cash capital expenditureC 8,575 9,401 8,997-9Operating expensesF 8,453 9,138 9,054-7Underlying operating expensesF10.4%11.3%12.0%ROACED 76,511 77,078 79,931 Total deb

3、tE 41,521 38,809 40,513 Net debtE18.7%17.7%17.7%GearingE 2,838 2,815 2,911+1Oil and gas production available for sale(thousand boe/d)0.79 0.15 1.14+427Basic earnings per share($)0.92 0.60 1.20+53Adjusted Earnings per share($)B 0.3580 0.3580 0.3440 Dividend per share($)1.Q1 on Q4 changeQuarter Analys

4、is1 Income attributable to Shell plc shareholders,compared with the fourth quarter 2024,reflected lower exploration well write-offs,lower operating expenses and higher Products margins.First quarter 2025 income attributable to Shell plc shareholders also included a charge of$0.5 billion related to t

5、he UK Energy Profits Levy and impairment charges.These items are included in identified items amounting to a net loss of$0.8billion in the quarter.This compares with identified items in the fourth quarter 2024 which amounted to a net loss of$2.8 billion.Adjusted Earnings and Adjusted EBITDA2 were dr

6、iven by the same factors as income attributable to Shell plc shareholders and adjusted for the above identified items.Cash flow from operating activities for the first quarter 2025 was$9.3billion and primarily driven by Adjusted EBITDA,partly offset by tax payments of$2.9billion and working capital