Exclusive extracts from this 25-page-long report:
- Who is the player?
Total was incorporated in 1924 and is a major hydrocarbon developer, producer and distributor. The group is also present in downstream markets: refining, manufacturing of basic petrochemicals and derived specialties, as well as energy trading. [...]
- What are the player's strategies?
Total has been adjusting to sustained low oil prices by postponing capital investment in assets that do not achieve breakeven point and pursuing cost reductions across the board. Total's exploration and production capex peaked in 2013, when group capex stood at €31.12bn, as opposed to €12.19bn in 2017. Prior to this, the group had completed a series of heavy investments that, along with additional project start-ups (12 over 2017-2018), allowed it to achieve steady increases in both oil and gas output, while lowering related investment outlays. […]
- What are the player's strengths and weaknesses?
Among the world's leading integrated oil and gas manufacturers
Vertical integration: upstream, downstream and chemicals […]
Gradually declining profitability since 2013
Declining interest rate coverage due to a gradually increasing cost of debt since 2014 (2017 levels were nearly treble compared to the 2014 ones) […]
- What is the player's financial position?
The financial indicators included in the report include: Consolidated net revenues, Consolidated operating income and margin, Consolidated net profit and margin, R&D spending and ratio,, Sales by segment, Sales performance by segment, Sales by region, Sales performance by region, Profitability ratios, Liquidity ratios, Solvency ratios and Free cash flow and capital expenditure.