Editorial
“TotalEnergies has built itself patiently since 1924 through a history that has forged our common values – values that continue to guide us on a daily basis in meeting the challenges before us. The support of our shareholders stands as a measure of confidence but also serves to drive our determination.”
Fellow Shareholders,
I was delighted to be with you at our Shareholder’s Meeting, held once again at the Tour Coupole, our company’s headquarters. Over 700 shareholders were in attendance, not counting all those who chose to attend the Meeting remotely; we counted more than 2,700 connections to the live broadcast of the Shareholders’ Meeting on our website, and I hope that the remote participation conditions were such that you were able to comfortably take part in the event. I would like to thank you for your involvement, as your Board is particularly attached to this moment of shareholder dialogue, a highlight in the life of your Company.
2024 was a year of success and progress in the implementation of the strategy of your Company, which we are naturally delighted about. For the third consecutive year, TotalEnergies was the most profitable Company among the majors in 2024, with a return on capital employed of nearly 15%, demonstrating the financial solidity of our business model. This performance is the result of a strategy founded on two pillars: hydrocarbons, and notably liquefied natural gas, while maintaining our position in oil; and electricity, which is at the heart of the energy transition.
This multi-energy integrated strategy strikes a balance between profitable growth and sustainable development: “More energy, less emissions”. As part of this drive, and with the aim of fostering shareholder dialogue on the Company’s sustainable development and climate roadmap, the Board of Directors decided to include in the agenda of the Shareholders’ Meeting a formal point of debate (but with no resolution submitted to a vote) regarding the Sustainability & Climate – 2025 Progress Report, which details the progress achieved on the implementation of the Company’s policy on sustainable development and the energy transition, as well as its 2030 objectives in this respect. This is why a specific point of debate on the climate was proposed at the start of the Q&A session with the shareholders. This gave rise to highly involving discussions, which you can watch in catchup on our website, totalenergies.com (via the Shareholders’ Meetings page).
You also adopted all the resolutions approved by the Board of Directors, including the renewal of the directorship of Lise Croteau, the appointments of Helen Lee Bouygues and Laurent Mignon, replacing Maria van der Hoeven and Jean Lemierre, and the appointment of Valérie Della Puppa-Tibi as a director representing employees. Thank you for this.
TotalEnergies today is in excellent financial health and your Board is confident in the ability of your Company to meet its growth objective not just in 2025 but in 2030, too. It wants to continue sharing these good results with you, its shareholders. This is why, once again this year, and for the fourth year in a row, your Board has decided that the dividend will be increased, with quarterly interim dividends set at 85 euro cents, up 7.6% from last year.
TotalEnergies has built itself patiently since 1924 through a history that has forged our common values – values that continue to guide us on a daily basis in meeting the challenges before us. The support of our shareholders stands as a measure of confidence but also serves to drive our determination.
2025 is marked by uncertainties, particularly given the new commercial and geopolitical policies that the US administration is seeking to implement. Despite this environment, which is also more uncertain and volatile in the oil markets, your Board is reaffirming the relevance and coherence of our balanced multi-energy transition strategy, to which we have been firmly committed since 2015.
We stand by this strategy and assert it in complete transparency: more energy, less emissions, more value for the benefit of all, our employees, our customers, and yours, fellow shareholders.
Thank you for your trust and your loyalty.
Patrick Pouyanné