Why invest in Total?

We operate in more than 130 countries and produce almost 2.7m boe/d of hydrocarbons, making us one of the world's largest international oil and gas companies and a major player in low-carbon energies.

Our ambition is to become the responsible energy major.

10.6 B$
adjusted net income
Gross dividend yield in 2017*
* Based on a 2017 dividend of €2.48, to be approved by the Annual Shareholders’ Meeting on June 1, 2018, and the average share price in 2017.
> 10%
Return on equity

Once again, the Group was the most profitable of all the oil majors in 2017. We confirm our objective to grow our production by 5% per year on average between 2016 and 2022.

Patrick de La Chevardière
Chief Financial Officer

The strength of our integrated business model

We operate in all parts of the oil and gas value chain, as well as in low-carbon energies. Our success is based on:
  • The very fast growth we are achieving in oil and natural gas production (+20% of growth between 2014 and 2017): we started 5 major projects in 2017 and 9 are planned in 2018, integrating Maersk Oil Q1 2018.
  • Our Downstream businesses (Refining & Chemicals and Marketing & Services), which generate around $7 billion of cash flow per year and show little sensitivity to movements in oil prices.
  • Our strong position as second largest global Liquefied Natural Gas player.
  • Our development into renewable power market.
This business model enables us to:
  • Give you visibility on shareholder return over the period 2018-2020, with a 10% dividend growth forecast.
  • Offer you a dividend yield of 5.5% per year on average over the last 10 years.
  • Maintain a solid financial position (ending the year 2017 with a 15.1% gearing - net-debt-to-capital ratio).
  • Continue investing in our future growth (15-17 G$ of investment per year).

Solid fundamentals underpinning sustainable growth

In all of our business areas, we have shown operational excellence and an ability to cut costs and acquire the best assets. We are confident in our ability to maintain our growth:
  • In Exploration & Production, we confirm the objective to grow our production by 5% per year on average between 2016 and 2022 with production costs of $5.5 /boe expected in 2018, among the lowest of the majors. 
  • In the Downstream business, we can rely on the high quality and strong potential of our major Refining & Chemicals platforms, along with service-station and lubricant sales growth.
  • We are maintaining our discipline regarding costs with the objective of achieving over 4 B$ of savings in 2018 and our discipline regarding investments. 
We have taken advantage of the low part of the oil price cycle to acquire high-quality resources at attractive prices and emerge stronger with better visibility on our cash flow generation.
This is how we intend to deliver on our commitment to being the most profitable European major and creating value for you, the shareholders and investors in our Group.
Building on our strengths for a growing production
S'appuyer sur nos forces pour poursuivre la croissance
S'appuyer sur nos forces pour poursuivre la croissance

Dividend yield

Gross dividend yield of 5.5% per year on average over the last 10 years
Taux de rendement brut du dividende
Taux de rendement brut du dividende

Discover the Total group

Discover the Total group