Equinor announce first quarter 2022 results
Equinor reports adjusted earnings of USD 18.0 billion and USD 5.18 billion after tax in the first quarter of 2022. IFRS net operating income was USD 18.4 billion and the IFRS net income was USD 4.71 billion.
The first quarter of 2022 was characterised by:
The invasion of Ukraine impacting already tight energy markets, increasing commodity prices and volatility.
Strong operational performance and increased production of gas to Europe to support energy security.
Very strong adjusted earnings and free cash flow* of USD 12.7 billion.
Announced process for exiting Russia leading to an impairment of USD 1.08 billion.
Continued progress on all strategic priorities with continued cost focus and capital discipline.
Cash dividend of USD 0.20 per share, continued extraordinary cash dividend of USD 0.20 per share and second tranche of share buy-back of around USD 1.33 billion.
“The invasion of Ukraine stands as a dark moment for Europe and our thoughts are with all suffering the consequences of the brutal war. After having been in Russia for three decades, we saw the situation as untenable and acted decisively by stopping new investments into Russia and by starting the process of exiting Equinor’s Russian joint ventures. Exiting Russia will heavily impact our employees, and it leads to impairments of our assets in the country this quarter“, says Anders Opedal, president and CEO of Equinor ASA.
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