SIGNATURES |
By: /s/ Michiel Brandjes | ||||
Name:
|
Michiel Brandjes | |||
Title:
|
Company Secretary |
| Royal Dutch Shells second quarter 2007 earnings, on a
current cost of supply (CCS) basis, were $7.6 billion
compared to $6.3 billion a year ago. Basic CCS earnings per
share increased by 22% versus the same quarter a year ago. |
|
| From 2007 onwards the Group is declaring its dividends in US
dollars rather than in euros. A second quarter 2007 dividend
has been announced of $0.36 per share, an increase of 14%
over the US dollar dividend for the same period in 2006. |
|
| $0.9 billion or 0.4% of Royal Dutch Shell shares were bought
back for cancellation during the quarter. |
|
Royal Dutch Shell Chief Executive Jeroen van der Veer commented: We have delivered another
set of competitive results, driven by operating performance. Our investment plans are on
track. I am pleased with our progress in downstream and on exploration. We are rejuvenating
our portfolio, with sustained investment in new legacy assets, as well as disposals, both
upstream and downstream. We continue to see competitive growth opportunities based on our
technological strengths, by making disciplined capital choices, in an industry landscape of
both higher energy prices and higher costs. |
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||||||||||
Q2 | Q1 | Q2 | %1 | |||||||||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | % | |||||||||||||||||||||||
8,667 | 7,281 | 7,324 | +18 | Income attributable to shareholders |
15,948 | 14,217 | +12 | |||||||||||||||||||||
(1,111) | (349) | (1,010) | Estimated CCS adjustment for Oil Products and
Chemicals (see note 2) |
(1,460) | (1,815) | |||||||||||||||||||||||
7,556 | 6,932 | 6,314 | +20 | CCS earnings |
14,488 | 12,402 | +17 | |||||||||||||||||||||
1.38 | 1.16 | 1.13 | Basic earnings per share ($) |
2.54 | 2.19 | |||||||||||||||||||||||
(0.18) | (0.06) | (0.15) | Estimated CCS adjustment per share ($) |
(0.23) | (0.28) | |||||||||||||||||||||||
1.20 | 1.10 | 0.98 | Basic CCS earnings per share ($) |
2.31 | 1.91 | |||||||||||||||||||||||
0.36 | 0.36 | 0.315 | Dividend per ordinary share ($) 2 |
0.72 | 0.63 |
1 | Q2 on Q2 change | |
2 | From 2007 onwards dividends are declared in US dollars. 2006 dividends were declared in euros and translated, for comparison purposes, to US dollars (based on the US dollar dividend of American Depositary Receipts in the applicable period converted to ordinary shares). |
| Second quarter 2007 CCS earnings were $7,556
million or 20% higher than in the same quarter a
year ago. |
| Second quarter 2007 reported income was $8,667
million or 18% higher than in the same quarter a
year ago. |
| Exploration & Production segment earnings were
$3,301 million compared with $3,999 million in the
second quarter 2006. Earnings, when compared to the
second quarter 2006, were mainly impacted by lower
volumes, tax charges and higher costs, reflecting
current industry conditions, partly offset by a
divestment gain. |
| Gas & Power segment earnings were $779 million
compared to $513 million a year ago. Earnings, when
compared to the same quarter in 2006, reflected
higher Liquefied Natural Gas (LNG) sales volumes,
LNG dividends and divestment gains which were
partly offset by lower European marketing and
trading results. |
| Oil Products CCS earnings were $2,936 million
compared to $2,065 million in 2006. Earnings
benefited from higher refining margins, improved
marketing margins and a divestment gain, which were
partly offset by higher operating costs when
compared to the second quarter of 2006. |
| Chemicals CCS earnings were $494 million compared
to $348 million in 2006, reflecting improved
margins and higher profits from equity-accounted
investments, partly offset by higher operating
costs. |
| Cash flow from operating activities was $8.8
billion compared to $7.8 billion in the second
quarter 2006. Excluding working capital movements
and taxation effects, cash flow from operating
activities was $10.0 billion compared to $11.9
billion a year ago (see note 7). |
| Total cash returned to shareholders in the second
quarter 2007 in the form of dividends and share
repurchases was $3.2 billion. |
| Capital investment for the second quarter 2007 was
$5.8 billion and approximately $6.3 billion of
proceeds were realised from divestments. |
| Return on average capital employed (ROACE), on a
reported income basis (see note 3), was 22.8%. |
| Gearing (see note 5) was 12% at the end of the
second quarter 2007 versus 13.6 % at the end of the
second quarter 2006. |
| As at March 31, 2007, Royal Dutch Shell, through
its affiliates, had acquired the remaining shares
of Shell Canada, not already owned by the Group, at
a total price of some $7.1 billion. As from the
second quarter 2007, Royal Dutch Shells financial
statements include the fully consolidated results
of Shell Canada with no minority interest impact. |
| On April 18, 2007, Royal Dutch Shell completed the
divestment to OAO Gazprom of a 50% stake (plus 1
share) in the Sakhalin project in Russia. Royal
Dutch Shell diluted its stake in the project from
55% to 27.5% for a total sale price of $4.1
billion. Royal Dutch Shells financial statements
now include the balance sheet and income statement
of Sakhalin Energy on an equity accounted basis
(see note 6). |
3
QUARTERS | SIX MONTHS | |||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
1.38 | 1.16 | 1.13 | Earnings per share ($) |
2.54 | 2.19 | |||||||||||||||
1.20 | 1.10 | 0.98 | CCS earnings per share ($) |
2.31 | 1.91 |
QUARTERS | SIX MONTHS | |||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
1.38 | 1.15 | 1.13 | Earnings per share ($) |
2.53 | 2.18 | |||||||||||||||
1.20 | 1.10 | 0.97 | CCS earnings per share ($) |
2.30 | 1.91 |
QUARTERS | $ million | SIX MONTHS | |||||||||||||||||||||||||
Q2 | Q1 | Q2 | |||||||||||||||||||||||||
2007 | 2007 | 2006 | % 1 | 2007 | 2006 | % | |||||||||||||||||||||
Segment earnings |
|||||||||||||||||||||||||||
3,301 | 3,508 | 3,999 | Exploration & Production |
6,809 | 7,742 | ||||||||||||||||||||||
779 | 803 | 513 | Gas & Power2 |
1,582 | 1,273 | ||||||||||||||||||||||
2,936 | 1,488 | 2,065 | Oil Products (CCS basis) |
4,424 | 3,398 | ||||||||||||||||||||||
494 | 480 | 348 | Chemicals (CCS basis) |
974 | 487 | ||||||||||||||||||||||
177 | 801 | (448) | Corporate2 |
978 | (221) | ||||||||||||||||||||||
(131) | (148) | (163) | Minority interest |
(279) | (277) | ||||||||||||||||||||||
7,556 | 6,932 | 6,314 | +20 | CCS earnings |
14,488 | 12,402 | +17 | ||||||||||||||||||||
1 | Q2 on Q2 change | |
2 As from 2007, the segment Other Industry and Corporate has been renamed as Corporate. Its earnings no longer include the results generated by the Wind and Solar businesses, which were previously reported as part of Other Industry segments, but continue to include some non-material businesses. The Wind and Solar businesses earnings are, as from 2007, reported under the Gas & Power segment. For comparison purposes, the second quarter 2006 and the six months period of 2006 results were reclassified and are impacted by $(3) million and $(8) million in the Gas & Power segment and by $3 million and $8 million in the Corporate segment, respectively. |
| Exploration & Production earnings included a net income of $153 million, reflecting a divestment gain of $226 million
and a gain of $19 million related to the mark-to-market valuation of certain UK gas contracts, which were partly offset
by tax charges of $92 million. Earnings for the second quarter 2006 included a combined net income of $304 million
including the impacts of a Canadian tax rate change and income of $147 million related to the mark-to-market valuation
of certain UK gas contracts. |
| Gas & Power earnings included a gain from divestments of $247 million. |
| Oil Products earnings included a divestment gain of $205 million. Earnings for the second quarter 2006 included net
charges of $65 million related to employee retirement plans expenses in France partly offset by the impact of a
Canadian tax rate change. |
| Chemicals earnings did not include any identified items for the second quarter 2007. Earnings for the second quarter
2006 included net charges of $30 million related to employee retirement plans expenses in France partly offset by the
impact of a Canadian tax rate change. |
| Corporate earnings included a net income of $55 million related to the sale of property in the United Kingdom. Earnings
for the second quarter 2006 included a $500 million provision in respect of the putative shareholder class actions
filed in the United States District Court for the District of New Jersey relating to the 2004 recategorisation of
certain hydrocarbon reserves. |
| Minority interest did not include any identified items for the second quarter 2007. In the second quarter of 2006 a
Canadian tax rate change occurred resulting in an additional income of $41 million attributable to Minority interest. |
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
Segment earnings impact of identified items: |
||||||||||||||||||||
153 | 104 | 304 | Exploration & Production |
257 | 417 | |||||||||||||||
247 | 39 | - | Gas & Power |
286 | - | |||||||||||||||
205 | (176 | ) | (65 | ) | Oil Products (CCS basis) |
29 | (65 | ) | ||||||||||||
- | - | (30 | ) | Chemicals (CCS basis) |
- | (30 | ) | |||||||||||||
55 | 404 | (400 | ) | Corporate |
459 | (400 | ) | |||||||||||||
- | - | (41) | Minority interest |
- | (41) | |||||||||||||||
660 | 371 | (232) | CCS earnings impact |
1,031 | (119) | |||||||||||||||
QUARTERS | SIX MONTHS | |||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||
$/bbl | Realised oil prices (period average) | $/bbl | ||||||||||||||||
64.41 |
54.88 | 63.99 | WOUSA | 59.52 | 60.75 | |||||||||||||
61.06 |
51.91 | 63.63 | USA | 56.34 | 59.56 | |||||||||||||
63.92 |
54.45 | 63.95 | Global | 59.06 | 60.61 | |||||||||||||
$/thousand scf | Realised gas prices (period average) | $/thousand scf | ||||||||||||||||
5.95 |
7.84 | 6.54 | Europe | 6.93 | 6.83 | |||||||||||||
4.01 |
4.71 | 4.18 | WOUSA (including Europe) | 4.36 | 4.48 | |||||||||||||
7.78 |
7.20 | 7.36 | USA | 7.48 | 8.43 | |||||||||||||
4.74 |
5.21 | 4.82 | Global | 4.98 | 5.24 | |||||||||||||
Oil and gas marker industry prices (period average) | ||||||||||||||||||
68.86 |
57.76 | 69.51 | Brent ($/bbl) | 63.31 | 65.65 | |||||||||||||
64.89 |
58.05 | 70.45 | WTI ($/bbl) | 61.47 | 66.88 | |||||||||||||
7.56 |
7.15 | 6.59 | Henry Hub ($/MMBtu) | 7.36 | 7.17 | |||||||||||||
20.20 |
22.31 | 34.60 | UK National Balancing Point (pence/therm) | 21.25 | 52.42 |
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||||||
2007 | 2007 | 2006 | %1 | 2007 | 2006 | % | ||||||||||||||||||||
3,301 |
3,508 | 3,999 | -17 | Segment earnings | 6,809 | 7,742 | -12 | |||||||||||||||||||
1,908 |
1,961 | 1,897 | +1 | Crude oil production (thousand b/d) | 1,934 | 1,931 | ||||||||||||||||||||
7,367 |
8,981 | 7,865 | -6 | Natural gas production available for sale (million scf/d) | 8,170 | 9,088 | -10 | |||||||||||||||||||
3,178 |
3,509 | 3,253 | -2 | Barrels of oil equivalent (thousand boe/d) | 3,343 | 3,498 | -4 |
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||||||
2007 | 2007 | 2006 | %1 | 2007 | 2006 | % | ||||||||||||||||||||
779 |
803 | 513 | +52 | Segment earnings2 | 1,582 | 1,273 | +24 | |||||||||||||||||||
3.25 |
3.30 | 2.84 | +14 | Equity LNG sales volume (million tonnes) | 6.55 | 5.84 | +12 |
1 Q2 on Q2 change | ||
2 As from 2007, the Gas & Power earnings include earnings generated by the Wind and Solar businesses, which were previously reported as part of Other Industry segments. For comparison purposes, the second quarter 2006 and six months period of 2006 results were reclassified and were impacted by $(3) million and $(8) million respectively. |
QUARTERS | SIX MONTHS | |||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
$/bbl | Refining marker industry gross margins (period average) |
$/bbl | ||||||||||||||||||
23.10 | 22.15 | 22.20 | ANS US West Coast coking margin
|
22.65 | 17.60 | |||||||||||||||
27.05 | 12.85 | 20.85 | WTS US Gulf Coast coking margin
|
19.95 | 16.65 | |||||||||||||||
6.30 | 3.70 | 4.75 | Rotterdam Brent complex
|
5.00 | 3.55 | |||||||||||||||
3.60 | 3.05 | 4.05 | Singapore 80/20 Arab light/Tapis complex
|
3.35 | 2.60 |
QUARTERS | $ million | SIX MONTHS | |||||||||||||||||||||||||
Q2 | Q1 | Q2 | |||||||||||||||||||||||||
2007 | 2007 | 2006 | %1 | 2007 | 2006 | % | |||||||||||||||||||||
3,928 | 1,802 | 3,017 | Segment earnings |
5,730 | 5,120 | ||||||||||||||||||||||
(992 | ) | (314 | ) | (952 | ) | CCS adjustment see note 2 |
(1,306 | ) | (1,722 | ) | |||||||||||||||||
2,936 | 1,488 | 2,065 | +42 | Segment CCS earnings |
4,424 | 3,398 | +30 | ||||||||||||||||||||
3,806 | 3,608 | 3,789 | Refinery intake (thousand b/d) |
3,707 | 3,825 | -3 | |||||||||||||||||||||
6,490 | 6,406 | 6,426 | +1 | Total Oil products sales (thousand b/d) |
6,449 | 6,475 |
8
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||||||||
2007 | 2007 | 2006 | %1 | 2007 | 2006 | % | ||||||||||||||||||||||
626 | 527 | 446 | Segment earnings |
1,153 | 629 | |||||||||||||||||||||||
(132 | ) | (47 | ) | (98 | ) | CCS adjustment see note 2 |
(179 | ) | (142 | ) | ||||||||||||||||||
494 | 480 | 348 | +42 | Segment CCS earnings |
974 | 487 | +100 | |||||||||||||||||||||
5,653 | 5,567 | 5,870 | -4 | Sales volumes (thousand tonnes) |
11,220 | 11,811 | -5 |
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
177 | 801 | (448 | ) | Segment earnings1 | 978 |
(221) |
9
-10-
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||||
2007 | 2007 | 2006 | %1 | 2007 | 2006 | % | ||||||||||||||||||
84,896 | 73,480 | 83,127 | Revenue2
|
158,376 | 159,091 | |||||||||||||||||||
68,715 | 60,666 | 67,838 | Cost of sales
|
129,381 | 129,760 | |||||||||||||||||||
16,181 | 12,814 | 15,289 | +6 | Gross profit
|
28,995 | 29,331 | -1 | |||||||||||||||||
4,120 | 3,778 | 4,429 | Selling, distribution and administrative
expenses
|
7,898 | 7,842 | |||||||||||||||||||
450 | 272 | 250 | Exploration
|
722 | 531 | |||||||||||||||||||
2,138 | 1,808 | 1,829 | Share of profit of equity accounted
investments
|
3,946 | 3,652 | |||||||||||||||||||
(477 | ) | (901 | ) | 47 | Net finance costs and other (income)/expense
|
(1,378 | ) | (108 | ) | |||||||||||||||
14,226 | 11,473 | 12,392 | +15 | Income before taxation
|
25,699 | 24,718 | +4 | |||||||||||||||||
5,415 | 4,032 | 4,865 | Taxation
|
9,447 | 10,175 | |||||||||||||||||||
8,811 | 7,441 | 7,527 | +17 | Income for the period
|
16,252 | 14,543 | +12 | |||||||||||||||||
144 | 160 | 203 | Income attributable to minority interest
|
304 | 326 | |||||||||||||||||||
8,667 | 7,281 | 7,324 | +18 | Income attributable to shareholders
|
15,948 | 14,217 | +12 | |||||||||||||||||
1 | Q2 on Q2 change | |
2 | Revenue is stated after deducting sales taxes, excise duties and similar levies of $18,993 million in Q2 2007, $17,305 million in Q1 2007, $17,984 million in Q2 2006 and $16,709 million in Q1 2006. |
-11-
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||||||||
2007 | 2007 | 2006 | %1 | 2007 | 2006 | % | ||||||||||||||||||||||
Exploration & Production: |
||||||||||||||||||||||||||||
2,385 | 2,656 | 3,014 | -21 | World outside USA |
5,041 | 5,809 | -13 | |||||||||||||||||||||
916 | 852 | 985 | -7 | USA |
1,768 | 1,933 | -9 | |||||||||||||||||||||
3,301 | 3,508 | 3,999 | -17 | 6,809 | 7,742 | -12 | ||||||||||||||||||||||
Gas & Power2: |
||||||||||||||||||||||||||||
494 | 682 | 461 | +7 | World outside USA |
1,176 | 1,175 | ||||||||||||||||||||||
285 | 121 | 52 | USA |
406 | 98 | |||||||||||||||||||||||
779 | 803 | 513 | +52 | 1,582 | 1,273 | +24 | ||||||||||||||||||||||
Oil Products (CCS basis): |
||||||||||||||||||||||||||||
1,827 | 1,158 | 1,332 | +37 | World outside USA |
2,985 | 2,403 | +24 | |||||||||||||||||||||
1,109 | 330 | 733 | +51 | USA |
1,439 | 995 | +45 | |||||||||||||||||||||
2,936 | 1,488 | 2,065 | +42 | 4,424 | 3,398 | +30 | ||||||||||||||||||||||
Chemicals (CCS basis): |
||||||||||||||||||||||||||||
454 | 469 | 309 | +47 | World outside USA |
923 | 482 | +91 | |||||||||||||||||||||
40 | 11 | 39 | +3 | USA |
51 | 5 | ||||||||||||||||||||||
494 | 480 | 348 | +42 | 974 | 487 | +100 | ||||||||||||||||||||||
7,510 | 6,279 | 6,925 | +8 | TOTAL OPERATING SEGMENTS |
13,789 | 12,900 | +7 | |||||||||||||||||||||
Corporate2: |
||||||||||||||||||||||||||||
158 | 583 | 38 | Interest and investment income/(expense) |
741 | 38 | |||||||||||||||||||||||
20 | 46 | (73 | ) | Currency exchange gains/(losses) |
66 | 39 | ||||||||||||||||||||||
(1 | ) | 172 | (413 | ) | Other - including taxation |
171 | (298 | ) | ||||||||||||||||||||
177 | 801 | (448 | ) | 978 | (221 | ) | ||||||||||||||||||||||
(131 | ) | (148 | ) | (163 | ) | Minority interest |
(279 | ) | (277 | ) | ||||||||||||||||||
7,556 | 6,932 | 6,314 | +20 | CCS EARNINGS |
14,488 | 12,402 | +17 | |||||||||||||||||||||
1,111 | 349 | 1,010 | CCS adjustment for Oil Products and Chemicals |
1,460 | 1,815 | |||||||||||||||||||||||
8,667 | 7,281 | 7,324 | +18 | Income attributable to shareholders of Royal Dutch Shell plc |
15,948 | 14,217 | +12 | |||||||||||||||||||||
-12-
$ million | ||||||||||||
June 30, | March 31, | June 30, | ||||||||||
ASSETS | 2007 | 2007 | 2006 | |||||||||
Non-current assets: |
||||||||||||
Intangible assets |
5,126 | 5,117 | 4,721 | |||||||||
Property, plant and equipment |
90,584 | 103,624 | 94,102 | |||||||||
Investments: |
||||||||||||
equity accounted investments |
27,185 | 22,001 | 19,083 | |||||||||
financial assets |
2,954 | 3,538 | 3,912 | |||||||||
Deferred tax |
3,108 | 3,135 | 2,259 | |||||||||
Pre-paid pension costs |
4,772 | 4,289 | 3,143 | |||||||||
Other |
5,548 | 5,285 | 4,569 | |||||||||
139,277 | 146,989 | 131,789 | ||||||||||
Current assets: |
||||||||||||
Inventories |
26,497 | 23,960 | 24,660 | |||||||||
Accounts receivable |
60,649 | 58,998 | 62,327 | |||||||||
Cash and cash equivalents |
15,117 | 11,184 | 11,774 | |||||||||
102,263 | 94,142 | 98,761 | ||||||||||
TOTAL ASSETS |
241,540 | 241,131 | 230,550 | |||||||||
LIABILITIES |
||||||||||||
Non-current liabilities: |
||||||||||||
Debt |
12,236 | 11,978 | 8,472 | |||||||||
Deferred tax |
13,159 | 13,114 | 12,007 | |||||||||
Retirement benefit obligations |
6,282 | 6,219 | 6,271 | |||||||||
Other provisions |
10,877 | 10,514 | 8,682 | |||||||||
Other |
3,784 | 4,154 | 4,650 | |||||||||
46,338 | 45,979 | 40,082 | ||||||||||
Current liabilities: |
||||||||||||
Debt |
5,266 | 5,393 | 6,112 | |||||||||
Accounts payable and accrued liabilities |
61,978 | 64,156 | 63,701 | |||||||||
Taxes payable |
11,214 | 9,835 | 10,525 | |||||||||
Retirement benefit obligations |
324 | 326 | 285 | |||||||||
Other provisions |
2,076 | 1,932 | 1,612 | |||||||||
80,858 | 81,642 | 82,235 | ||||||||||
TOTAL LIABILITIES |
127,196 | 127,621 | 122,317 | |||||||||
Equity attributable to |
112,621 | 105,105 | 100,213 | |||||||||
shareholders of Royal Dutch Shell plc |
||||||||||||
Minority interest |
1,723 | 8,405 | 8,020 | |||||||||
TOTAL EQUITY |
114,344 | 113,510 | 108,233 | |||||||||
TOTAL LIABILITIES AND EQUITY |
241,540 | 241,131 | 230,550 | |||||||||
-13-
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
CASH FLOW FROM OPERATING ACTIVITIES: |
||||||||||||||||||||
8,811 | 7,441 | 7,527 | Income for the period |
16,252 | 14,543 | |||||||||||||||
Adjustment for: |
||||||||||||||||||||
5,460 | 4,267 | 4,763 | Current taxation |
9,727 | 9,778 | |||||||||||||||
130 | 198 | 121 | Interest (income)/expense |
328 | 353 | |||||||||||||||
3,238 | 3,260 | 3,132 | Depreciation, depletion and amortisation |
6,498 | 5,944 | |||||||||||||||
(1,133) | (362) | (8) | (Profit)/loss on sale of assets |
(1,495 | ) | (193) | ||||||||||||||
(1,704) | (399) | (3,276) | Decrease/(increase) in net working capital |
(2,103) | (5,255) | |||||||||||||||
(2,138) | (1,808) | (1,829) | Share of profit of equity accounted investments |
(3,946) | (3,652) | |||||||||||||||
1,519 | 1,587 | 1,556 | Dividends received from equity accounted investments |
3,106 | 2,616 | |||||||||||||||
214 | (152) | 903 | Deferred taxation and other provisions |
62 | 1,481 | |||||||||||||||
(676) | (447) | 489 | Other |
(1,123) | (18) | |||||||||||||||
13,721 | 13,585 | 13,378 | Cash flow from operating activities (pre-tax) |
27,306 | 25,597 | |||||||||||||||
(4,873) | (2,404) | (5,544) | Taxation paid |
(7,277) | (9,939) | |||||||||||||||
8,848 | 11,181 | 7,834 | Cash flow from operating activities |
20,029 | 15,658 | |||||||||||||||
CASH FLOW FROM INVESTING ACTIVITIES: |
||||||||||||||||||||
(5,652) | (5,361) | (6,630) | Capital expenditure |
(11,013) | (10,449) | |||||||||||||||
(319) | (370) | (177) | Investments in equity accounted investments |
(689) | (408) | |||||||||||||||
6,270 | 380 | 211 | Proceeds from sale of assets |
6,650 | 717 | |||||||||||||||
279 | 115 | 36 | Proceeds from sale of equity accounted investments |
394 | 44 | |||||||||||||||
585 | 555 | 29 | Proceeds from sale of / (additions to) financial assets |
1,140 | (11) | |||||||||||||||
295 | 285 | 240 | Interest received |
580 | 474 | |||||||||||||||
1,458 | (4,396) | (6,291) | Cash flow from investing activities |
(2,938) | (9,633) | |||||||||||||||
CASH FLOW FROM FINANCING ACTIVITIES: |
||||||||||||||||||||
(1,185) | 341 | 887 | Net increase/(decrease) in debt with maturity period within three months |
(844) | 683 | |||||||||||||||
1,634 | 2,762 | 1,098 | Other debt: New borrowings |
4,396 | 1,882 | |||||||||||||||
(274) | (1,613) | (133) | Repayments |
(1,887) | (1,058) | |||||||||||||||
(290) | (351) | (261) | Interest paid |
(641) | (622) | |||||||||||||||
(3,585) | (3,110) | 423 | Change in minority interest |
(6,695) | 783 | |||||||||||||||
(900) | (486) | (2,512) | Net issue/(repurchase) of shares |
(1,386) | (3,856) | |||||||||||||||
Dividends paid to: |
||||||||||||||||||||
(2,300) | (2,100) | (2,091) | Shareholders of Royal Dutch Shell plc |
(4,400) | (3,929) | |||||||||||||||
(77) | (42) | (161) | Minority interest |
(119) | (205) | |||||||||||||||
Treasury shares: |
||||||||||||||||||||
568 | (16) | 135 | Net sales/(purchases) and dividends received |
552 | 226 | |||||||||||||||
(6,409) | (4,615) | (2,615) | Cash flow from financing activities |
(11,024) | (6,096) | |||||||||||||||
36 | 12 | 79 | Currency translation differences relating to cash and cash equivalents |
48 | 115 | |||||||||||||||
3,933 | 2,182 | (993) | INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS |
6,115 | 44 | |||||||||||||||
11,184 | 9,002 | 12,767 | Cash and cash equivalents at beginning of period |
9,002 | 11,730 | |||||||||||||||
15,117 | 11,184 | 11,774 | Cash and cash equivalents at end of period |
15,117 | 11,774 |
-14-
QUARTERS | SIX MONTHS | |||||||||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||||||||
2007 | 2007 | 2006 | %1 | 2007 | 2006 | % | ||||||||||||||||||||||
thousand b/d | CRUDE OIL PRODUCTION |
thousand b/d | ||||||||||||||||||||||||||
442 | 447 | 488 | Europe |
445 | 509 | |||||||||||||||||||||||
305 | 339 | 321 | Africa |
322 | 329 | |||||||||||||||||||||||
235 | 231 | 232 | Asia Pacific |
233 | 232 | |||||||||||||||||||||||
428 | 422 | 439 | Middle East, Russia, CIS |
425 | 424 | |||||||||||||||||||||||
328 | 343 | 295 | USA |
335 | 293 | |||||||||||||||||||||||
79 | 83 | 76 | Other Western Hemisphere |
81 | 83 | |||||||||||||||||||||||
1,817 | 1,865 | 1,851 | Total crude oil production excluding oil sands |
1,841 | 1,870 | |||||||||||||||||||||||
91 | 96 | 46 | Production from oil sands |
93 | 61 | |||||||||||||||||||||||
1,908 | 1,961 | 1,897 | +1 | Total crude oil production including oil sands |
1,934 | 1,931 | ||||||||||||||||||||||
million scf/d2 | NATURAL GAS PRODUCTION AVAILABLE FOR SALE |
million scf/d2 | ||||||||||||||||||||||||||
2,496 | 4,110 | 3,027 | Europe |
3,299 | 4,230 | |||||||||||||||||||||||
601 | 519 | 481 | Africa |
560 | 463 | |||||||||||||||||||||||
2,414 | 2,455 | 2,381 | Asia Pacific |
2,435 | 2,434 | |||||||||||||||||||||||
251 | 260 | 304 | Middle East, Russia, CIS |
255 | 312 | |||||||||||||||||||||||
1,091 | 1,162 | 1,175 | USA |
1,126 | 1,146 | |||||||||||||||||||||||
514 | 475 | 497 | Other Western Hemisphere |
495 | 503 | |||||||||||||||||||||||
7,367 | 8,981 | 7,865 | -6 | 8,170 | 9,088 | -10 | ||||||||||||||||||||||
thousand boe/d3 | TOTAL PRODUCTION IN BARRELS OF OIL EQUIVALENT |
thousand boe/d3 | ||||||||||||||||||||||||||
872 | 1,156 | 1,010 | Europe |
1,014 | 1,238 | |||||||||||||||||||||||
409 | 428 | 404 | Africa |
419 | 409 | |||||||||||||||||||||||
651 | 654 | 642 | Asia Pacific |
653 | 651 | |||||||||||||||||||||||
471 | 467 | 491 | Middle East, Russia, CIS |
469 | 478 | |||||||||||||||||||||||
516 | 543 | 498 | USA |
529 | 491 | |||||||||||||||||||||||
168 | 165 | 162 | Other Western Hemisphere |
166 | 170 | |||||||||||||||||||||||
3,087 | 3,413 | 3,207 | Total production excluding oil sands |
3,250 | 3,437 | |||||||||||||||||||||||
91 | 96 | 46 | Oil sands |
93 | 61 | |||||||||||||||||||||||
3,178 | 3,509 | 3,253 | -2 | Total production including oil sands |
3,343 | 3,498 | -4 | |||||||||||||||||||||
1 | Q2 on Q2 change |
2 | scf/d = standard cubic feet per day; 1 standard cubic foot = 0.0283 cubic metre |
3 | Natural gas converted to oil equivalent at 5.8 million scf/d = thousand boe/d |
-15-
QUARTERS | SIX MONTHS | |||||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||||
2007 | 2007 | 2006 | %1 | 2007 | 2006 | % | ||||||||||||||||||
thousand b/d | thousand b/d | |||||||||||||||||||||||
REFINERY PROCESSING INTAKE
|
||||||||||||||||||||||||
1,713 | 1,590 | 1,627 | Europe
|
1,651 | 1,684 | |||||||||||||||||||
810 | 759 | 832 | Other Eastern Hemisphere
|
785 | 823 | |||||||||||||||||||
905 | 893 | 978 | USA
|
899 | 963 | |||||||||||||||||||
378 | 366 | 352 | Other Western Hemisphere
|
372 | 355 | |||||||||||||||||||
3,806 | 3,608 | 3,789 | 3,707 | 3,825 | -3 | |||||||||||||||||||
OIL SALES |
||||||||||||||||||||||||
2,224 | 2,263 | 2,186 | Gasolines
|
2,244 | 2,167 | |||||||||||||||||||
731 | 720 | 780 | Kerosenes
|
726 | 756 | |||||||||||||||||||
2,238 | 2,114 | 2,071 | Gas/Diesel oils
|
2,176 | 2,133 | |||||||||||||||||||
667 | 679 | 735 | Fuel oil
|
673 | 771 | |||||||||||||||||||
630 | 630 | 654 | Other products
|
630 | 648 | |||||||||||||||||||
6,490 | 6,406 | 6,426 | +1 | Total oil products *
|
6,449 | 6,475 | ||||||||||||||||||
2,673 | 2,655 | 2,513 | Crude oil
|
2,663 | 2,503 | |||||||||||||||||||
9,163 | 9,061 | 8,939 | +3 | Total oil sales
|
9,112 | 8,978 | +1 | |||||||||||||||||
*Comprising: |
||||||||||||||||||||||||
1,826 | 1,832 | 1,948 | Europe
|
1,830 | 1,984 | |||||||||||||||||||
1,238 | 1,245 | 1,229 | Other Eastern Hemisphere
|
1,241 | 1,222 | |||||||||||||||||||
1,518 | 1,401 | 1,502 | USA
|
1,460 | 1,490 | |||||||||||||||||||
679 | 653 | 652 | Other Western Hemisphere
|
666 | 659 | |||||||||||||||||||
1,229 | 1,275 | 1,095 | Export sales
|
1,252 | 1,120 | |||||||||||||||||||
thousand tonnes | CHEMICAL SALES VOLUMES BY
MAIN PRODUCT CATEGORY
2**
|
thousand tonnes | ||||||||||||||||||||||
3,222 | 3,280 | 3,504 | Base chemicals
|
6,502 | 7,218 | |||||||||||||||||||
2,429 | 2,282 | 2,361 | First line derivatives
|
4,711 | 4,576 | |||||||||||||||||||
2 | 5 | 5 | Other
|
7 | 17 | |||||||||||||||||||
5,653 | 5,567 | 5,870 | -4 | 11,220 | 11,811 | -5 | ||||||||||||||||||
**Comprising: |
||||||||||||||||||||||||
2,220 | 2,273 | 2,433 | Europe
|
4,493 | 4,896 | |||||||||||||||||||
1,380 | 1,253 | 1,370 | Other Eastern Hemisphere
|
2,633 | 2,814 | |||||||||||||||||||
1,873 | 1,871 | 1,908 | USA
|
3,744 | 3,788 | |||||||||||||||||||
180 | 170 | 159 | Other Western Hemisphere
|
350 | 313 |
1 | Q2 on Q2 change | |
2 | Excluding volumes sold by equity accounted investments, chemical feedstock trading and by-products. |
-16-
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
Capital expenditure: |
||||||||||||||||||||
Exploration & Production: |
||||||||||||||||||||
2,702 | 3,240 | 5,095 | World outside USA |
5,942 | 7,595 | |||||||||||||||
774 | 587 | 481 | USA |
1,361 | 793 | |||||||||||||||
3,476 | 3,827 | 5,576 | 7,303 | 8,388 | ||||||||||||||||
Gas & Power1: |
||||||||||||||||||||
711 | 657 | 253 | World outside USA |
1,368 | 645 | |||||||||||||||
2 | 1 | 5 | USA |
3 | 9 | |||||||||||||||
713 | 658 | 258 | 1,371 | 654 | ||||||||||||||||
Oil Products: |
||||||||||||||||||||
Refining: |
||||||||||||||||||||
355 | 260 | 373 | World outside USA |
615 | 615 | |||||||||||||||
109 | 181 | 57 | USA |
290 | 118 | |||||||||||||||
464 | 441 | 430 | 905 | 733 | ||||||||||||||||
Marketing: |
||||||||||||||||||||
285 | 214 | 314 | World outside USA |
499 | 503 | |||||||||||||||
23 | 14 | 26 | USA |
37 | 44 | |||||||||||||||
308 | 228 | 340 | 536 | 547 | ||||||||||||||||
Chemicals: |
||||||||||||||||||||
184 | 153 | 63 | World outside USA |
337 | 99 | |||||||||||||||
96 | 83 | 47 | USA |
179 | 97 | |||||||||||||||
280 | 236 | 110 | 516 | 196 | ||||||||||||||||
75 | 45 | 1 | Corporate1: |
120 | 19 | |||||||||||||||
5,316 | 5,435 | 6,715 | TOTAL CAPITAL EXPENDITURE |
10,751 | 10,537 | |||||||||||||||
Exploration expense: |
||||||||||||||||||||
143 | 127 | 139 | World outside USA |
270 | 253 | |||||||||||||||
46 | 42 | 64 | USA |
88 | 127 | |||||||||||||||
189 | 169 | 203 | 358 | 380 | ||||||||||||||||
New equity in equity accounted investments |
||||||||||||||||||||
308 | 247 | 135 | World outside USA |
555 | 199 | |||||||||||||||
3 | 17 | 4 | USA |
20 | 9 | |||||||||||||||
311 | 264 | 139 | 575 | 208 | ||||||||||||||||
8 | 106 | 38 | New loans to equity accounted investments |
114 | 200 | |||||||||||||||
5,824 | 5,974 | 7,095 | TOTAL CAPITAL INVESTMENT*2 |
11,798 | 11,325 | |||||||||||||||
*Comprising: |
||||||||||||||||||||
3,884 | 4,260 | 5,823 | Exploration & Production |
8,144 | 8,990 | |||||||||||||||
808 | 732 | 354 | Gas & Power1 |
1,540 | 753 | |||||||||||||||
777 | 699 | 799 | Oil Products |
1,476 | 1,317 | |||||||||||||||
280 | 238 | 118 | Chemicals |
518 | 246 | |||||||||||||||
75 | 45 | 1 | Corporate1 |
120 | 19 | |||||||||||||||
5,824 | 5,974 | 7,095 | 11,798 | 11,325 | ||||||||||||||||
1 As from 2007, the segment Other Industry and Corporate has been renamed as Corporate. Its financial information no longer includes data related to the Wind and Solar businesses, which were previously reported as part of Other Industry segments, but continues to include some non-material businesses. The Wind and Solar businesses financial data are, as from 2007, reported under the Gas & Power segment. For comparison purposes, the second quarter 2006 and the six months period of 2006 capital investment data were reclassified and are impacted by $22 million and $25 million in the Gas & Power segment and by $(22) million and $(25) million in the Corporate segment, respectively. | ||
2 In addition to the above amounts, see Note 6 regarding accounting impacts related to the Shell Canada minority interest acquisition. |
-17-
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||||
Exploration & Production |
||||||||||||||||||||||
3,301 | 3,508 | 3,999 | Segment earnings |
6,809 | 7,742 | |||||||||||||||||
Including: |
||||||||||||||||||||||
450 | 272 | 250 | Exploration |
722 | 531 | |||||||||||||||||
2,353 | 2,328 | 2,253 | Depreciation, depletion & amortisation |
4,681 | 4,160 | |||||||||||||||||
659 | 913 | 720 | Share of profit of equity accounted investments |
1,572 | 1,697 | |||||||||||||||||
7,452 | 6,596 | 5,875 | Cash flow from operations |
14,048 | 12,637 | |||||||||||||||||
1,737 | 947 | (834) | Less: Net working capital movements and taxation paid/accrued |
2,684 | 299 | |||||||||||||||||
5,715 |
5,649 |
6,709 |
Cash flow from operations excluding net working capital movements and taxation paid/accrued |
11,364 | 12,338 | |||||||||||||||||
45,879 | 55,264 | 47,032 | Capital Employed |
45,879 | 47,032 | |||||||||||||||||
Gas & Power |
||||||||||||||||||||||
779 | 803 | 513 | Segment earnings |
1,582 | 1,273 | |||||||||||||||||
Including: |
||||||||||||||||||||||
77 | 74 | 68 | Depreciation, depletion & amortisation |
151 | 142 | |||||||||||||||||
428 | 420 | 351 | Share of profit of equity accounted investments |
848 | 720 | |||||||||||||||||
210 | 587 | 236 | Cash flow from operations |
797 | 1,368 | |||||||||||||||||
4 | (92) | (248) | Less: Net working capital movements and taxation paid/accrued |
(88) | (149) | |||||||||||||||||
206 |
679 |
484 |
Cash flow from operations excluding net working capital movements and taxation paid/accrued |
885 | 1,517 | |||||||||||||||||
16,133 | 18,453 | 15,300 | Capital Employed |
16,133 | 15,300 | |||||||||||||||||
Oil Products |
||||||||||||||||||||||
2,936 | 1,488 | 2,065 | Segment CCS earnings |
4,424 | 3,398 | |||||||||||||||||
Including: |
||||||||||||||||||||||
571 | 656 | 697 | Depreciation, depletion & amortisation |
1,227 | 1,327 | |||||||||||||||||
721 | 280 | 517 | Share of profit of equity accounted investments |
1,001 | 845 | |||||||||||||||||
1,464 | 2,123 | 1,657 | Cash flow from operations |
3,587 | (275) | |||||||||||||||||
(1,809) | (27) | (2,320) | Less: Net working capital movements and taxation paid/accrued |
(1,836) | (6,559) | |||||||||||||||||
3,273 |
2,150 |
3,977 |
Cash flow from operations excluding net working capital movements and taxation paid/accrued |
5,423 | 6,284 | |||||||||||||||||
46,546 | 43,716 | 41,620 | Capital Employed |
46,546 | 41,620 | |||||||||||||||||
Chemicals |
||||||||||||||||||||||
494 | 480 | 348 | Segment CCS earnings |
974 | 487 | |||||||||||||||||
Including: |
||||||||||||||||||||||
150 | 155 | 138 | Depreciation, depletion & amortisation |
305 | 287 | |||||||||||||||||
167 | 188 | 105 | Share of profit of equity accounted investments |
355 | 146 | |||||||||||||||||
451 | 116 | 443 | Cash flow from operations |
567 | 472 | |||||||||||||||||
(177) | (537) | (112) | Less: Net working capital movements and taxation paid/accrued |
(714) | (432) | |||||||||||||||||
628 |
653 |
555 |
Cash flow from operations excluding net working capital movements and taxation paid/accrued |
1,281 | 904 | |||||||||||||||||
9,888 | 9,187 | 8,727 | Capital Employed |
9,888 | 8,727 | |||||||||||||||||
1 Corporate segment information has not been included in the above table. Please refer to the Earnings per industry segment section for additional information. The above data does not consider Minority interest impacts on the segments. | ||||||||||||||||||||||
Q2 2007 | Q2 2006 | |||||||
Income attributable to shareholders (four quarters) |
27,173 | 27,617 | ||||||
Royal Dutch Shell share of interest expense after tax |
615 | 581 | ||||||
ROACE numerator |
27,788 | 28,198 | ||||||
Royal Dutch Shell share of capital employed opening |
113,717 | 100,326 | ||||||
Royal Dutch Shell share of capital employed closing |
129,859 | 113,717 | ||||||
Royal Dutch Shell share of capital employed average |
121,788 | 107,022 | ||||||
ROACE |
22.8% | 26.3% |
June 30, | June 30, | |||||||
2007 | 2006 | |||||||
Non-current debt |
12,236 | 8,472 | ||||||
Current debt |
5,266 | 6,112 | ||||||
Total debt |
17,502 | 14,584 | ||||||
Add: Net present value of operating lease obligations |
11,319 | 9,442 | ||||||
Unfunded retirement benefit obligations |
- | 2,919 | ||||||
Less: Cash and cash equivalents in excess of operational requirements |
13,217 | 9,874 | ||||||
Adjusted debt |
15,604 | 17,071 | ||||||
Total equity |
114,344 | 108,233 | ||||||
Total capital |
129,948 | 125,304 | ||||||
Gearing ratio (adjusted debt as a percentage of total capital) |
12.0% | 13.6% |
$ million | Ordinary | Treasury | Other | Retained | Total | Minority | Total equity | |||||||||||||||||||||||
share | shares | reserves | earnings | interest | ||||||||||||||||||||||||||
capital | ||||||||||||||||||||||||||||||
At December 31, 2006 | 545 | (3,316 | ) | 8,820 | 99,677 | 105,726 | 9,219 | 114,945 | ||||||||||||||||||||||
Income for the period | - | - | - | 15,948 | 15,948 | 304 | 16,252 | |||||||||||||||||||||||
Income/(expense) recognised directly in equity | - | - | 1,397 | - | 1,397 | (101) | 1,296 | |||||||||||||||||||||||
Capital contributions from minority shareholders | - | - | - | - | - | 819 | 819 | |||||||||||||||||||||||
Acquisition of Shell Canada | - | - | - | (5,445) | (5,445) | (1,639) | (7,084) | |||||||||||||||||||||||
Sakhalin partial divestment | - | - | - | - | - | (6,711) | (6,711) | |||||||||||||||||||||||
Other changes in minority interest | - | - | - | 7 | 7 | (49) | (42) | |||||||||||||||||||||||
Dividends paid | - | - | - | (4,400) | (4,400) | (119) | (4,519) | |||||||||||||||||||||||
Treasury shares: net sales/(purchases) and dividends received | - | 552 | - | - | 552 | - | 552 | |||||||||||||||||||||||
Shares repurchased for cancellation | (3) | - | 3 | (1,386) | (1,386) | - | (1,386) | |||||||||||||||||||||||
Share-based compensation | - | - | 222 | - | 222 | - | 222 | |||||||||||||||||||||||
At June 30, 2007 | 542 | (2,764) | 10,442 | 104,401 | 112,621 | 1,723 | 114,344 | |||||||||||||||||||||||
$ million | Ordinary | Treasury | Other | Retained | Total | Minority | Total equity | |||||||||||||||||||||||
share | shares | reserves | earnings | interest | ||||||||||||||||||||||||||
capital | ||||||||||||||||||||||||||||||
At December 31, 2005 |
571 | (3,809) | 3,584 | 90,578 | 90,924 | 7,000 | 97,924 | |||||||||||||||||||||||
Income for the period |
- | - | - | 14,217 | 14,217 | 326 | 14,543 | |||||||||||||||||||||||
Income/(expense) recognised
directly in equity |
- | - | 2,438 | - | 2,438 | 76 | 2,514 | |||||||||||||||||||||||
Capital contributions from
minority shareholders |
- | - | - | - | - | 823 | 823 | |||||||||||||||||||||||
Effect of Unification |
- | - | 154 | - | 154 | - | 154 | |||||||||||||||||||||||
Dividends paid |
- | - | - | (3,929) | (3,929) | (205) | (4,134) | |||||||||||||||||||||||
Treasury shares: net
sales/(purchases) and dividends
received |
- | 226 | - | - | 226 | - | 226 | |||||||||||||||||||||||
Shares repurchased for cancellation |
(15) | - | 15 | (4,010) | (4,010) | - | (4,010) | |||||||||||||||||||||||
Share-based compensation |
- | - | 193 | - | 193 | - | 193 | |||||||||||||||||||||||
At June 30, 2006 |
556 | (3,583) | 6,384 | 96,856 | 100,213 | 8,020 | 108,233 | |||||||||||||||||||||||
QUARTERS | $ million | SIX MONTHS | ||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
8,848 | 11,181 | 7,834 | Cash flow from operating activities |
20,029 | 15,658 | |||||||||||||||
5,460 | 4,267 | 4,763 | Current taxation |
9,727 | 9,778 | |||||||||||||||
(1,704 | ) | (399 | ) | (3,276 | ) | Decrease/(increase) in net working capital |
(2,103) | (5,255) | ||||||||||||
(4,873 | ) | (2,404 | ) | (5,544 | ) | Taxation paid |
(7,277) | (9,939) | ||||||||||||
9,965 | 9,717 | 11,891 | 19,682 | 21,074 | ||||||||||||||||
millions | Six | Six | ||||||||||||||||||
Q2 | Q1 | Q2 | months | months | ||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | ||||||||||||||||
Royal Dutch Shell shares of 0.07 |
6,281.7 | 6,287.0 | 6,457.6 | 6,284.4 | 6,483.5 |
millions | Six | Six | |||||||||||||||||||||
Q2 | Q1 | Q2 | months | months | |||||||||||||||||||
2007 | 2007 | 2006 | 2007 | 2006 | |||||||||||||||||||
Royal Dutch Shell shares of 0.07 |
6,303.1 | 6,306.5 | 6,483.1 | 6,303.2 | 6,508.6 | ||||||||||||||||||
Basic shares outstanding at the end of the following periods are: | |||||||||||||||||||||||
millions |
Q2 | Q1 | Q2 | ||||||||||||||||||||
2007 | 2007 | 2006 | |||||||||||||||||||||
Royal Dutch Shell shares of 0.07 |
6,276.8 | 6,282.9 | 6,414.0 | ||||||||||||||||||||
$ million | euro million | £ million | ||||||||||||||||||||||||||||||||||
2007 | 2006 | % | 2007 | 2006 | % | 2007 | 2006 | % | ||||||||||||||||||||||||||||
Revenue |
||||||||||||||||||||||||||||||||||||
84,896 | 83,127 | +2 | Second quarter |
62,984 | 66,069 | -5 | 42,745 | 45,454 | -6 | |||||||||||||||||||||||||||
158,376 | 159,091 | Six months |
117,499 | 126,446 | 79,742 | 86,991 | ||||||||||||||||||||||||||||||
Income attributable to shareholders |
||||||||||||||||||||||||||||||||||||
8,667 | 7,324 | +18 | Second quarter |
6,430 | 5,821 | +10 | 4,364 | 4,005 | +9 | |||||||||||||||||||||||||||
15,948 | 14,217 | Six months |
11,832 | 11,300 | 8,030 | 7,774 | ||||||||||||||||||||||||||||||
CCS Earnings |
||||||||||||||||||||||||||||||||||||
7,556 | 6,314 | +20 | Second quarter |
5,606 | 5,018 | +12 | 3,804 | 3,452 | +10 | |||||||||||||||||||||||||||
14,488 | 12,402 | Six months |
10,749 | 9,857 | 7,295 | 6,781 | ||||||||||||||||||||||||||||||
Total Equity |
||||||||||||||||||||||||||||||||||||
114,344 | 108,233 | +6 | Second quarter |
85,038 | 85,125 | +0 | 57,126 | 59,128 | -3 | |||||||||||||||||||||||||||
Capital Investment |
||||||||||||||||||||||||||||||||||||
5,824 | 7,095 | -18 | Second quarter |
4,321 | 5,639 | -23 | 2,932 | 3,880 | -24 | |||||||||||||||||||||||||||
11,978 | 11,325 | Six months |
8,886 | 9,001 | 6,031 | 6,193 | ||||||||||||||||||||||||||||||
Income attributable to Shareholders | ||||||||||||||||||||||||||||||||||||
Q2 | Q1 | Q2 | ||||||||||||||||||||||||||||||||||
Per Ordinary Share |
2007 | 2007 | 2006 | |||||||||||||||||||||||||||||||||
ROYAL DUTCH SHELL PLC |
$ | 1.38 | 1.16 | 1.13 | ||||||||||||||||||||||||||||||||
euro | 1.02 | 0.88 | 0.90 | |||||||||||||||||||||||||||||||||
pence | 69.47 | 59.26 | 62.02 |
1. | The exchange rates used in the quarterly translation are the average rates, except in the case of total equity where the end rate is used: |
euro/$ | £/$ | |||||||||||||||||||
2007 | 2006 | 2007 |
2006 | |||||||||||||||||
Second quarter average rate |
0.7419 | 0.7948 | 0.5035 | 0.5468 | ||||||||||||||||
Second quarter end rate |
0.7437 | 0.7865 | 0.4996 | 0.5463 |