Royal Dutch Shell plc fourth quarter and full year 2013 results announcement

30 jan 2014

On Thursday, January 30, 2014 at 07.00 GMT (08.00 CET and 02.00 EST) Royal Dutch Shell plc released its fourth quarter and full year 2013 results and fourth quarter 2013 interim dividend announcements.

On this page a summarised overview of the Royal Dutch Shell plc fourth quarter and full year 2013 results and links to the full set of results documents.

Summary of Unaudited Results

Fourth quarter 2013 summary of unaudited results

  • Royal Dutch Shell’s fourth quarter 2013 earnings, on a current cost of supplies  (CCS) basis (see Note 1), were $2.2 billion compared with $7.4 billion in the same quarter a year ago. Full year 2013 CCS earnings were $16.7 billion compared with $27.2 billion in 2012.
  • Fourth quarter 2013 CCS earnings excluding identified items (see page 6) were $2.9 billion compared with $5.6 billion in the fourth quarter of 2012. Full year 2013 CCS earnings excluding identified items were $19.5 billion compared with $25.3 billion in 2012.
  • Compared with the fourth quarter 2012, CCS earnings excluding identified items were impacted by higher depreciation, increased exploration expenses, lower upstream volumes and weak industry conditions in downstream oil products.
  • Fourth quarter 2013 basic CCS earnings per share excluding identified items decreased by 49% versus the fourth quarter 2012. Full year 2013 basic CCS earnings per share excluding identified items decreased by 23% versus 2012.
  • Total dividends distributed in the fourth quarter were some $2.8 billion, of which $1.2 billion were settled under the Scrip Dividend Programme. During the fourth quarter some 27.2 million shares were bought back for cancellation for a consideration of $1.0 billion.
  • Gearing at the end of 2013 was 16.1% compared with 9.8% at the end of 2012.
  • A fourth quarter 2013 dividend has been announced of $0.45 per ordinary share and $0.90 per American Depositary Share (“ADS”), an increase of 5% compared with the fourth quarter 2012.
  • The first quarter 2014 dividend is expected to be declared at $0.47 per ordinary share and $0.94 per American Depositary Share (“ADS”), an increase of 4% compared with the first quarter 2013.

SUMMARY OF UNAUDITED RESULTS
Quarters $ million Full year
Q4 2013 Q3 2013 Q4 20121 %2 2013 20121 %
1,781 4,677 6,728 -74 Income attributable to shareholders 16,371 26,712 -39
371 (429) 623 Current cost of supplies (CCS) adjustment for Downstream 374 452
2,152 4,248 7,351 -71 CCS earnings 16,745 27,164 -38
(763) (209) 1,712 Less: Identified items3 (2,747) 1,905
2,915 4,457 5,639 -48 CCS earnings excluding identified items 19,492 25,259 -23
 Of which:

 

2,477

 

 3,466 4,401 Upstream 15,117 20,107

 

558

 

 892 1,190 Downstream 4,466 5,343

 

(120)

 

 99 48 Corporate and Non-controlling interest (91) (191)

 

6,028

 

 10,409 9,913 -39 Cash flow from operating activities 40,440 46,140 -12

 

0.34

 

 0.68 1.17 -71 Basic CCS earnings per share ($) 2.66 4.34 -39

 

0.68

 

 1.36 2.34 Basic CCS earnings per ADS ($) 5.32 8.68

 

0.46

 

 0.71 0.90 -49 Basic CCS earnings per share excl. identified items ($) 3.10 4.04 -23

 

0.92

 

 1.42 1.80 Basic CCS earnings per ADS excl. identified items ($) 6.20 8.08

 

0.45

 

 0.45 0.43 +5 Dividend per share ($) 1.80 1.72 +5

 

0.90

 

 0.90 0.86 Dividend per ADS ($) 3.60 3.44
1  Restated for accounting policy change (see Note 2)
2  Q4 on Q4 change  3 See page 6

Financial Documents

Dividend Announcement

CEO statement

“Our momentum slowed in 2013. We must improve our financial results, achieve better capital efficiency and continue to strengthen our operational performance and project delivery.”

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