SHELL EARNINGS $15.8 BLN

SHELL - CCS earnings attributable to shareholders excluding identified items were $4.3 billion for the fourth quarter 2017 and $15.8 billion for the full year 2017, reflecting increased contributions from all businesses, compared with 2016. Full year earnings benefited mainly from higher realised oil, gas and LNG prices, improved refining performance and higher production from new fields, which offset the impact of field declines and divestments.

Cash flow from operating activities for the fourth quarter 2017 of $7.3 billion included negative working capital movements of $1.1 billion. Excluding working capital effects, cash flow from operations was $8.4 billion. Full year 2017 cash flow from operating activities of $35.7 billion included negative working capital movements of $3.2 billion.

Total dividends distributed to shareholders in the quarter were $3.9 billion, of which $1.6 billion were settled by issuing 52.7 million A shares under the Scrip Dividend Programme. In November, Shell announced the cancellation of the Scrip Dividend Programme from the fourth quarter 2017. Shell expects to announce a dividend of $0.47 per ordinary share and $0.94 per American Depositary Share for the first quarter 2018.

Summary of unaudited results  $ million

Q4 2017	Q3 2017	Q4 2016	% 1		Definition	Full year 2017	Full year 2016	%
3,807	4,087	1,541	+147	Income/(loss) attributable to shareholders		12,977	4,575	+184
3,082	3,698	1,032	+199	CCS earnings attributable to shareholders	Note 2	12,081	3,533	+242
(1,221)	(405)	(763)		Of which: Identified items2	A	(3,683)	(3,652)
4,303	4,103	1,795	+140	CCS earnings attributable to shareholders excluding identified items		15,764	7,185	+119
94	105	40		Add: CCS earnings attributable to non-controlling interest		418	270
4,397	4,208	1,835	+140	CCS earnings excluding identified items		16,182	7,455	+117
				Of which:
1,636	1,282	907		Integrated Gas		5,268	3,700
1,650	562	54		Upstream		3,091	(2,704)
1,396	2,668	1,339		Downstream		9,082	7,243
(285)	(304)	(465)		Corporate		(1,259)	(784)
7,275	7,582	9,170	-21	Cash flow from operating activities		35,650	20,615	+73
(665)	(3,912)	(3,429)		Cash flow from investing activities		(8,029)	(30,963)
6,610	3,670	5,741		Free cash flow	H	27,621	(10,348)
0.46	0.50	0.19	+142	Basic earnings per share ($)		1.58	0.58	+172
0.37	0.45	0.13	+185	Basic CCS earnings per share ($)	B	1.47	0.45	+227
0.52	0.50	0.22	+136	Basic CCS earnings per share excl. identified items ($)		1.92	0.92	+109
0.47	0.47	0.47	-	Dividend per share ($)		1.88	1.88	-

1  Q4 on Q4 change
2 Fourth quarter 2017 includes a non-cash charge of $2,014 million related to the impact of the US tax reform legislation.

-----

Earlier:

2018, January, 8, 19:05:00 SHELL NEEDS THE SHALE FT - The growth of Royal Dutch Shell’s oil and gas operations in the next decade will depend on shale production, its chief executive has said, in the latest sign of western energy groups pinning their hopes for expansion on those “unconventional” resources. English

2017, December, 25, 20:10:00 SHELL - KUWAIT LNG BLOOMBERG - Kuwait Petroleum Corp. signed a 15-year liquefied natural gas import deal with Royal Dutch Shell Plc to help the oil exporting nation meet growing domestic energy demand.

2017, November, 29, 09:50:00 SHELL UPDATES STRATEGY SHELL - “Our next steps as we re-shape Shell into a world-class investment aim to ensure that our company can continue to thrive, not just in the short and medium term but for many decades to come,” said van Beurden. “These steps build on the foundations of Shell’s strong operational and financial performance, and my confidence in our strategy and our ability to deliver on the promises we make.”

2017, November, 7, 12:10:00 BP, SHELL, STATOIL COOPERATION Energy majors BP, Shell and Statoil are to co-develop a blockchain-based digital platform for energy trading.

2017, November, 3, 12:05:00 SHELL INCOME $9.2 BLN Compared with the third quarter 2016, CCS earnings attributable to shareholders excluding identified items increased to $4.1 billion, reflecting higher contributions from Downstream, Upstream and Integrated Gas. Earnings benefited mainly from stronger refining and chemicals industry conditions, increased realised oil and gas prices and higher production from new fields, offsetting the impact of field declines and divestments.

2017, October, 2, 14:40:00 SHELL'S INVESTMENT RISKS “The point that you can be too early was proved by us,” he says. “We were among the first of the big international oil companies to get into solar and we found out we could not make any money out of it.”

2017, July, 28, 09:45:00 SHELL INCOME $1.55 BLN Royal Dutch Shell Chief Executive Officer Ben van Beurden commented: “Shell’s strong results this quarter show that we are reshaping the company following the integration of BG. Cash generation has been resilient over four consecutive quarters, at an average oil price of just under $50 per barrel. This quarter, we generated robust earnings excluding identified items of $3.6 billion, while over the past 12 months cash flow from operations of $38 billion has covered our cash dividend and reduced gearing to 25%.