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荷兰皇家壳牌Royal Dutch Shell (SHEL)2025年第四季度及全年财报「NYSE」(英文版)(22页).pdf

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1、Shell plc|February 5,2026Shell plcFourth quarter 2025 resultsConsistent delivery with more to comeFebruary 5,2026Shell plc|February 5,2026Definitions&cautionary note The companies in which Shell plc directly and indirectly owns investments are separate legal entities.In this presentation“Shell”,“She

2、ll Group”and“Group”are sometimes used for convenience to reference Shell plc and its subsidiaries in general.Likewise,the words“we”,“us”and“our”are also used to refer to Shell plc and its subsidiaries in general or to those who work for them.These terms are also used where no useful purpose is serve

3、d by identifying the particular entity or entities.Subsidiaries,“Shell subsidiaries”and“Shell companies”as used in this presentation refer to entities over which Shell plc either directly or indirectly has control.The terms“joint venture”,“joint operations”,“joint arrangements”,and“associates”may al

4、so be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties.The term“Shell interest”is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement

5、,after exclusion of all third-party interest.This presentation contains forward-looking statements(within the meaning of the U.S.Private Securities Litigation Reform Act of 1995)concerning the financial condition,results of operations and businesses of Shell.All statements other than statements of h

6、istorical fact are,or may be deemed to be,forward-looking statements.Forward-looking statements are statements of future expectations that are based on managements current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results,performance o

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1. **财务表现**:2025年调整后利润178亿美元,现金流429亿美元,净债务457亿美元;股息每股0.372美元(增长4%),股票回购≥30亿美元,股东回报超220亿美元。 2. **运营亮点**:上游与综合气业务稳健,全年调整后EBITDA 561亿美元;现金资本支出210亿美元,结构性成本削减51亿美元(目标57亿美元)。 3. **战略进展**:完成SPDC尼日利亚等资产剥离,新增LNG项目(如卡塔尔、巴西),目标2030年新项目产能超100万桶油当量/日。 4. **转型目标**:2030年将Scope 1&2排放减半,净碳强度(NCI)降低15-20%,股东分红占现金流40-50%。
**Shell分红多少?** **成本降了吗?** **净零目标靠谱?**
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