Multinational energy business TotalEnergies, headquartered in France, has posted an 18% year-on-year drop in net income in the first quarter of 2025, falling from $5.1bn to $4.2bn.
The quarterly profit of $4.2bn was slightly down on the previous Q4 result ($4.4bn), but broadly in line with it, and the company made progress on many fronts in the quarter.
Earnings fell across all segments except LNG. Integrated LNG recorded net operating income of $1.3bn and cashflow of $1.2bn for the first quarter, driven by higher year-on-year prices but was lower than Q4. The division’s performance was down 10% on the previous quarter but up 6% year-on-year.
LNG trading results were “in line with expectations” while gas trading grappled with the downturn of European markets following heightened uncertainties in the Russia–Ukraine conflict.
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