TotalEnergies records over 20 bln USD net income in 2022

French energy and petroleum company TotalEnergies say that its full-year 2022 net income increased by 28 percent yearly, reaching 20.5 billion U.S. dollars.

In 2022, TotalEnergies generated a cash flow of 45.7 billion U.S. dollars, while its International Financial Reporting Standards (IFRS) net income reached 20.5 billion U.S. dollars, the company said.

Return on equity was 32 percent, and return on capital employed was 28 percent, the company added.

Meanwhile, its Integrated Power activity, covering the electricity and renewables business, generated 1 billion U.S. dollars of cash flow in 2022.

Net electricity generation stood at 33.2 TWh in 2022, while liquefied natural gas (LNG) production declined by 2 percent, the company said.

Despite the strikes in France, TotalEnergies’ refinery throughput was up 25 percent in 2022, due to the increase in the utilization rate of refineries.

As Russian gas and oil supplies to Europe were cut off, the operating cash flow of TotalEnergies’ Refining and Chemicals segment reached 7,704 billion U.S. dollars, 2.6 times higher than in 2021. ■

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