The French group TotalEnergies closed the first quarter of the year with an attributable net profit of 5,557 million dollars (5,040 million euros), which represents an improvement of 12.4% compared to the result for the same period of 2022, as reported by the French company, which has reached an agreement for the sale of its operations in Canada to Suncor Energy for 5,500 million Canadian dollars (3,660 million euros).

In the first three months of 2023, the French company’s sales reached 62,603 ​​million dollars (56,781 million euros), which represents an 8.7% drop in turnover compared to in the first quarter of the previous year.

For its part, adjusted gross operating income (Ebitda) between January and March totaled 14.167 million dollars (12.849 million euros), or 18.7% less.

“TotalEnergies once again demonstrates its ability to generate solid results”, declared Patrick Pouyanné, CEO of the company, adding that “given these good results, the Board of Directors confirmed the 7.25% increase in the first interim dividend for fiscal year 2023, up to 0.74 euros per share, as well as the buyback of up to $2,000 million of shares in the second quarter of 2023”.

On the other hand, the French company announced the sale to Suncor Energy of all the shares of TotalEnergies EP Canada in exchange for a cash payment of 5,500 million Canadian dollars (3,660 million euros) and a series of additional payments that they could reach a maximum of 600 million Canadian dollars (399 million euros) under certain conditions.

TotalEnergies and Suncor expect to complete the transaction by the end of the third quarter of 2023.

The French company has defended that this operation is easier to carry out than the planned spin-off of the subsidiary and sufficiently competitive to represent an alternative for the benefit of the multinational and its shareholders.

Listen live to COPE, the radio of the most popular communicators. If you wish, you can download the COPE app to iOS (iPhone) And android.

And remember, at COPE you will find the best analysis of the news, the keys of our communicators to understand everything around you, the best stories, entertainment and, above all, those sounds that you will not find anywhere else .