2nd Quarter and Half Year 2014 Unaudited Results
* Royal Dutch Shell's second quarter 2014 earnings, on a current cost of
supplies (CCS) basis (see Note 2), were $5.1 billion compared with $2.4
billion for the same quarter a year ago. Earnings included an identified
net charge of $1.0 billion after tax, mainly reflecting impairments which
were partly offset by divestment gains (see page 6).
* Second quarter 2014 CCS earnings excluding identified items (see page 6)
were $6.1 billion compared with $4.6 billion for the second quarter 2013,
an increase of 33%.
* Compared with the second quarter 2013, CCS earnings excluding identified
items benefited from higher liquids production volumes and prices, the
impact of the strengthening Australian dollar on a deferred tax liability,
and higher contributions from Manufacturing. These items were partly offset
by increased depreciation, higher costs, and the phasing of a dividend from
an LNG venture into the third quarter of 2014.
* Basic CCS earnings per share excluding identified items increased by 33%
versus the same quarter last year.
* Cash flow from operating activities for the second quarter 2014 was $8.6
billion, compared with $12.4 billion for the same quarter last year.
Excluding working capital movements, cash flow from operating activities
for the second quarter 2014 was $11.0 billion, compared with $8.4 billion
for the second quarter 2013.
* Capital investment for the second quarter 2014 was $8.5 billion. Net
capital investment (see Note 2) for the second quarter 2014 was $1.1
billion, compared with $10.9 billion for the same period a year ago.
* Total dividends distributed in the quarter were $3.0 billion, of which $1.0
billion were settled under the Scrip Dividend Programme. During the second
quarter some 8.6 million A shares were bought back for cancellation for a
consideration of $0.3 billion. Shell has now cancelled the Scrip Dividend
Programme and scrip dividends will not be offered for the second quarter
2014 dividend.
* Gearing at the end of the second quarter 2014 was 13.4%.
* A second quarter 2014 dividend has been announced of $0.47 per ordinary
share and $0.94 per American Depositary Share ("ADS"), an increase of 4%
compared with the second quarter 2013.