Group Presentation

Financial Data & Operating Highlights

Selected financial information *

Selected financial information *

201120102009
Sales  184,693 159,269 131,327
Adjusted operating income from business segments (a)  24,409
19,797
14,154
Corporate income tax (b)  14 073  10,228 7,751
Adjusted net operating income from business segments (a)  12,263 10,622 7,607
Adjusted net income (Group share) (a) 11,424
10,288 7,784
Fully-diluted adjusted earnings per share (euros) (a) (c) 2 257,0 2244,5 2 237,3
Dividend per share (in €) (d)  2.28 2.28 2.28
Net-debt-to-equity (as of December 31)  23% 22% 27 %
Return on Average Capital Employed (ROACE) 
 16% 16% 13 %
Return on equity  18% 19% 32 %
Cash flow from operating activities  19,536 18,493 12,360
Investments  24,541 16,273 13,349
Divestments  8,578 4,316 3,081

(a) Adjusted income (adjusted operating income, adjusted net operating income and adjusted net income) is defined as income using replacement cost, adjusted for special items and through June 30, 2010, excluding TOTAL’s equity share of adjustments related to Sanofi-Aventis.
(b) Since 1966, Total is taxed under the consolidated profit system, granted under three-year agreements by the Ministry of the Economy, Finance and Industry. Total’s average taxation rate in 2010 was 55.9%.
(c) Based on the fully-diluted weighted-average number of common shares outstanding during the period.
(d) 2010 dividend is subject to the approval by the Shareholders’ Meeting on May 13, 2011.
 

* Source: Registration Document 2011


Operating and market data *

Operating and market data

201120102009
Brent price ($/b) 111.3
79.5 61.7
Euro-dollar exchange rate 1.39
1.33 1.39
European Refinery Margin Indicator (ERMI) ($/t)(a) ($/t) 17.4
27.4 17.8
    
Hydrocarbon production (kboe/d) 2 346

2,378 2,281
Liquids production (kb/d)
1 226
1,340 1,381
Gas production (Mcf/d) 6 098
5,648 4,923
Refinery throughput (kb/d) (b) 1 863
2,009
2,151
Refined product sales (kb/d) (c)

3 639

 

3,776 3,616

(a) ERMI (European Refining Margin Indicator) has replaced TRCV as the European refining margin indicator, as announced by TOTAL on January 15, 2010 in the publication ofits 4th quarter indicators. In view of market changes over the past years (particularly in terms of refinery complexity, crude feedstock and product runs) the ERMI should bemore representative of the margin on average variable costs for a theoretical European refinery.
(b) Including TOTAL’s share in CEPSA.
(c) Including Trading activities and share of CEPSA.
* Source: Registration Document 2011

Abréviations
b ....................... barrel Btu ................. British thermal unit
MWp ................ megawatt peak cf .................... cubic feet
boe .................. barrel of oil equivalent TWh ............... terawatt-hour
/d ..................... per day kboe/d ........... thousand boe/d
/y ...................... per year kb/d ................ thousand barrel/d
€ ...................... euro M .................... million
$. and/or dollar.....US dollar B .................... billion
MW .................. megawatt t ...................... metric ton
LNG................. Liquefied Natural Gas TRCV ............ see below*
IFRS................ International Financial Reporting Standards API................. American Petroleum Institute
LPG................. Liquefied Petroleum Gas  

*TRCV: An aggregate margin for topping, reforming, cracking, visbreaking in Western Europe developed and used internally by Total's management as an indicator or refining margins.

Conversion table
1 boe = 1 barrel of crude oil = approx. 5,505 cf of gas in 2008 1 m3 = approx. 35.3 cf
1 b/d = approx. 50 t/year 1 t of LNG = approx. 8.9 boe = approx. 48 Mcf of gas
1 t = approx. 7.5 b (for a gravity of 37°API) 1 Mt/y of LNG = approx. 131 Mcf/d
1 Bm3/y = approx. 0.1 Bcf/d