Royal Dutch Shell plc has released its first quarter results and its first quarter interim dividend announcement for 2010.
First quarter 2010 earnings, on a current cost of supplies (CCS) basis, were $4.9 billion compared to $3.3 billion a year ago. Basic CCS earnings per share increased by 48% versus the same quarter a year ago.
First quarter 2010 CCS earnings, excluding identified items (see page 5), were $4.8 billion compared to $3.0 billion in the first quarter 2009, an increase of 60%.
Cash flow from operating activities for the first quarter 2010 was $4.8 billion. Excluding net working capital movements, cash flow from operating activities in the first quarter 2010 was $10.4 billion.
Net capital investment for the quarter was $6.2 billion. Total dividends paid to shareholders during the first quarter 2010 were $2.6 billion.
Royal Dutch Shell chief executive officer Peter Voser commented: “Our results have improved considerably compared with year-ago levels, and our profitability has increased from the low levels we saw in the fourth quarter 2009. This has been driven by higher energy prices, operational and production performance and Shell’s growth programmes.
We are making good progress in improving our near-term performance, delivering a new wave of production growth and maturing next generation project options. Our results reflected the successful ramp-up of our new upstream projects in Russia and Brazil, supporting a 6% increase in our production volumes and a 38% increase in sales volumes, in our industry-leading LNG business.”
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