Santos Limited (ASX: STO) has unveiled its robust financial results for the initial half of 2023. Amid a changing macro environment, the company managed to achieve noteworthy results, including a 13% decrease in production to 45 million barrels of oil equivalent, resulting in a 23% drop in EBITDAX to US$2,112 million. Free cash flow from operations declined by 34% to US$1,129 million, and underlying profit saw a 37% reduction to US$801 million. The after-tax statutory net profit was $790 million, reflecting a 32% decrease.
Despite these challenges, Santos demonstrated resilience through its disciplined operating model. An interim dividend of $283 million will be issued, showing a 14% rise to US8.7 cents per share without franking. The Managing Director and CEO, Kevin Gallagher, emphasized the commitment to strategic execution, infrastructure development, and new energy solutions, including carbon capture and storage projects, in line with customer demands and energy transition goals.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 21, 2024
Nov 20, 2024
Nov 20, 2024
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
