Q4 2024 Equinor ASA Earnings Call Transcript
Key Points
- Equinor ASA (EQNR) is positioned to deliver industry-leading returns with an expected return on capital employed above 15% through 2030.
- The company anticipates more than 10% growth in oil and gas production from 2024 to 2027, supported by high-value transactions and project progress.
- Equinor ASA (EQNR) expects to generate $23 billion in free cash flow over the next three years, enabling competitive shareholder distribution.
- The company has announced a total capital distribution of $9 billion for 2025, including a $0.02 increase in the quarterly cash dividend and $5 billion for share buybacks.
- Equinor ASA (EQNR) has achieved strong operational performance, with a 21% return on capital employed and $18 billion in cash flow from operations after tax in 2024.
- The company faced a tragic helicopter accident in 2024, highlighting ongoing safety challenges despite improvements.
- Equinor ASA (EQNR) has reduced its investments in renewables and low-carbon solutions by 50% compared to last year's outlook, impacting the pace of growth in these segments.
- The geopolitical tension and market uncertainty pose risks to the company's operations and price outlook.
- The uneven pace of the energy transition and regulatory uncertainties have affected segments like offshore wind and hydrogen.
- The company has lowered its renewables ambition for 2030 and introduced a range for its net carbon intensity ambitions, reflecting challenges in the energy transition.
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My name is BÃ¥rd Glad Pedersen, and I am heading up Investor Relations in Equinor. (Conference Instructions)
Today, we will have two presentations here in the primary session. It will be our CEO, Anders Opedal; and our CFO, Torgrim Reitan. After their presentations, there will be a Q&A for analysts here in the room and all the members of the corporate executive team are here and ready to provide answers.
Later, after that, we will have three breakout sessions. One with Anders and Torgrim, one with Kjetil Hove and Philippe Mathieu, the Executive Vice Presidents for EPN and EPI; and one with Jens Ãkland and Irene Rummelhoff, the EVPs for Renewables and M&P.
But before all of that, we will do -- as we do in all Equinor meetings, we will start with a safety moment. This will be with our EVP for Safety, Security, and Sustainability, Jannicke Nilsson. And just before I hand it over to I will remind you that the presentations here today will include forward-looking statements and non
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