Royal Dutch Shell Plc : Shell slows its buybacks in a difficult business environment
>Q4 2019 earnings 9% lower than expected - Adj. attrib. net profit in Q4 came to € 2.931bn, -38.5% q-o-q/-48.5% y-o-y and 12%/8% lower than our expectations and those of the consensus, with a particularly difficult environment at every level and particularly for natural gas, refining margins and above all chemicals. CFFO excluding working capital movements came to $ 47bn for the year, in line with our estimates and the consensus, which is reassuring. IG ...Royal Dutch Shell is a holding company. Through its subsidiaries, Co. is engaged in the oil and gas industry. Co. reports its business through four segments: Integrated Gas, which engaged in the liquefaction and transportation of gas and the conversion of natural gas to liquids to provide fuels and other products; Upstream, which engaged in the exploration for and extraction of crude oil, natural gas and natural gas liquids; Downstream, which engaged in oil products and chemicals manufacturing and marketing activities; and Corporate, which comprising Co.'s holdings and treasury organisation, its self-insurance activities and its headquarters and central functions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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