Total SA Q2 Profit Declines On Lower Prices; Production Up - Quick Facts

(RTTNews) - Total SA (TTA.L, TTFNF.PK, TOT) reported Thursday its second-quarter net income group share of $2.09 billion, down 30 percent from last year's $2.97 billion

Adjusted net income was $2.17 billion or $0.90 per share, compared to $3.09 billion or $1.34 a year ago. IN euro terms, adjusted earnings per share were 0.79 euros, compared to 1.21 euros last year.

Sales for the quarter declined 17 percent to $37.215 billion from prior year's $44.715 billion.

Hydrocarbon production was 2,424 kboe/d in the second quarter 2016, 5 percent higher than last year. In the Upstream, production increased more than 5%.

Brent price declined 26 percent to $45.6 per barrel, and average hydrocarbon price fell 27 percent to $33 per barrels of oil equivalent.

Further, the company announced an interim dividend of 0.61 euro per share, payable in January 2017.

The company said it continues to actively manage its portfolio by launching the sale process for Atotech, and confirmed its objective to generate $2 billion from net asset sales over the year.