Q2 Results Highlights - Report on TOTAL

NEW YORK, September 21, 2015 /PRNewswire/ --

ACI Association has initiated research coverage on TOTAL S.A. (NYSE: TOT). Select highlights from the internally released reports are being made available to the general public (included below), with access to the entirety of the research available to new members.

Today, membership is open to readers on a complementary basis at the following URL: http://www.aciassociation.com/TOT.pdf

Highlights from our TOT Report include:

• Second quarter and first half results - On July 29, 2015, Total S.A. announced its financial results for the second quarter and first half of fiscal 2015. For the second quarter the Company reported sales of $44.7 billion while sales in Q2 FY14 was $62.6 billion. Total's consolidated net income for Q2 FY15 came in at $3.0 billion or $1.29 per share versus a reported consolidated net income of $3.1 billion or $1.36 per share in the prior year period. For the first half of the year, the Company reported sales amounting to $87.0 billion vis-à-vis $123.2 billion reported in the previous year first half. Total generated a consolidated net income of $5.5 billion or $2.46 per share during H1FY15 as compared to $6.6 billion or $2.84 per share reported in the prior year period.

• Q2 Operational Highlights - In the Upstream business, the Company's hydrocarbons production reached 2,299 kboe/d during the second quarter 2015 versus a production of 2,054 kboe/d reported for Q2 FY14, which reflected an increase of 12%. Adjusted net operating income from the Upstream segment was $1.6 billion, down 49% YoY in the second quarter 2015, due to the decrease in the average realized price of hydrocarbons, partially offset by an increase in production, a material decrease in operating costs, and a lower effective tax rate, notably in Nigeria and in Congo. Under the Refining & Chemicals segment, total refinery throughput increased by 18% YoY to 1,909 kb/d in the second quarter 2015 due to the startup of SATORP and a lower level of maintenance in Europe. Adjusted net operating income from the Refining & Chemicals segment was $1.3 billion, which is more than three times higher than in the second quarter 2014.

• Management Speak - Patrick Pouyanne, CEO of Total said, "In the Upstream, the Group started up its fourth major project this year with first production from Termokarstovoye in Russia. The 12% increase in production over the past year demonstrates that our growth strategy is working, in spite of the shutdown of Yemen LNG for security reasons. The excellent Downstream results highlight the resilience of our integrated model. The Refining & Chemicals and Marketing & Services segments are fully benefiting from higher refining, petrochemical and marketing margins that are sustained by stronger demand in the context of lower prices. In European refining, Total is committed to the conversion project at La Mède and the restructuring of Donges in France, reducing the capacity of Lindsey in the United Kingdom and the sale of Schwedt in Germany."

To find out how this influences our rating on TOTAL S.A. read the full report in its entirety here: http://www.aciassociation.com/TOT.pdf

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