- Nachrichtendetail
-
06.02.2024 08:01:06 - dpa-AFX: EQS-Adhoc: BP p.l.c.: 4Q23 SEA Part 1 of 1 (english)
BP p.l.c.: 4Q23 SEA Part 1 of 1
EQS-Ad-hoc: BP p.l.c. / Key word(s): Annual Results
BP p.l.c.: 4Q23 SEA Part 1 of 1
06-Feb-2024 / 08:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Top of page 1
"For a printer friendly version of this announcement please click on the
link below to open a PDF version of the announcement"
b. See Note 9 for more information.
RC profit (loss), underlying RC profit (loss), surplus cash flow, net debt,
ROACE, adjusted EBITDA, adjusted EBIDA, underlying RC profit per ordinary
share and underlying RC profit per ADS are non-IFRS measures. Inventory
holding (gains) losses and adjusting items are non-IFRS adjustments.
* For items marked with an asterisk throughout this document, definitions
are provided in the Glossary on page 34.
Top of page 2
Top of page 3
Financial results
In addition to the highlights on page 2:
Top of page 4
Analysis of RC profit (loss) before interest and tax and reconciliation to
profit (loss) for the period
Analysis of underlying RC profit (loss) before interest and tax
Reconciliations of underlying RC profit attributable to bp shareholders to
the nearest equivalent IFRS measure are provided on page 1 for the group and
on pages 6-14 for the segments.
Top of page 5
Operating Metrics
Operating metrics Year 2023 vs Year 2022
c. Mainly reflecting impact of portfolio changes.
Reserves replacement ratio*
The organic reserves replacement ratio on a combined basis of subsidiaries
and equity-accounted entities was 47% for the year (2022 20%). The increase
is largely due to additions in BPX Energy in the US and in the Middle East.
Outlook & Guidance
1Q24 guidance
2024 guidance
In addition to the guidance on page 2:
Top of page 6
gas & low carbon energy*
Financial results
Operational update
Strategic progress
gas
low carbon energy
Top of page 7
gas & low carbon energy (continued)
Top of page 8
gas & low carbon energy (continued)
Top of page 9
oil production & operations
Financial results
Operational update
Strategic Progress
Top of page 10
oil production & operations (continued)
Top of page 11
customers & products
Financial results
The Castrol result for the fourth quarter was higher compared to the same
period in 2022, primarily due to higher margins underpinned by lower cost of
supply and higher volumes, with the fourth quarter of 2022 impacted by COVID
restrictions, notably in China.
Operational update
Strategic progress
Top of page 12
customers & products (continued)
Top of page 13
customers & products (continued)
Top of page 14
other businesses & corporate
Other businesses & corporate comprises innovation & engineering, bp
ventures, Launchpad, regions, corporates & solutions, our corporate
activities & functions and any residual costs of the Gulf of Mexico oil
spill. It also includes Rosneft results up to 27 February 2022.
Financial results
quart- quart- quart- Year Year er er er
$ million 2023 2023 2022 2023 2022 Profit (loss) before interest and (16) (500) 103 (903) (26,737) tax
Inventory holding (gains) losses* - - - - - RC profit (loss) before interest (16) (500) 103 (903) (26,737) and tax
Net (favourable) adverse impact (81) 197 (409) 37 25,566 of adjusting items(a)
Underlying RC profit (loss) (97) (303) (306) (866) (1,171) before interest and tax
Taxation on an underlying RC 121 162 43 322 439 basis
Underlying RC profit (loss) 24 (141) (263) (544) (732)
other businesses & corporate (excluding Rosneft)
quart- quart- quart- Year Year er er er
$ million 2023 2023 2022 2023 2022 Profit (loss) before interest and (16) (500) 103 (903) (2,704) tax
Inventory holding (gains) losses* - - - - - RC profit (loss) before interest (16) (500) 103 (903) (2,704) and tax
Net (favourable) adverse impact of (81) 197 (409) 37 1,533 adjusting items
Underlying RC profit (loss) before (97) (303) (306) (866) (1,171) interest and tax
Taxation on an underlying RC basis 121 162 43 322 439 Underlying RC profit (loss) before 24 (141) (263) (544) (732) interest
other businesses & corporate (Rosneft)
quart- quart- quart- Year Year er er er
$ million 2023 2023 2022 2023 2022 Profit (loss) before interest and - - - - (24,033) tax
Inventory holding (gains) losses* - - - - - RC profit (loss) before interest - - - - (24,033)
Underlying RC profit (loss) before - - - - - interest and tax
Taxation on an underlying RC basis - - - - - Underlying RC profit (loss) before - - - - - interest
Top of page 15
Financial statements
Group income statement
Net finance (income)
EQS-Ad-hoc: BP p.l.c. / Key word(s): Annual Results
BP p.l.c.: 4Q23 SEA Part 1 of 1
06-Feb-2024 / 08:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation
(EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Top of page 1
FOR IMMEDIATE RELEASE
London 6 February 2024
BP p.l.c. Group results
Fourth quarter and full year 2023
"For a printer friendly version of this announcement please click on the
link below to open a PDF version of the announcement"
2023 : A year of delivery
Financial summary Fourth Third Fourth
quarter quarter quarter Year Year
$ million 2023 2023 2022 2023 2022
Profit (loss) for the 371 4,858 10,803 15,239 (2,487)
period attributable to bp
shareholders
Inventory holding (gains) 1,155 (1,212) 1,066 944 (1,019)
losses*, net of tax
Replacement cost (RC) 1,526 3,646 11,869 16,183 (3,506)
profit (loss)*
Net (favourable) adverse 1,465 (353) (7,062) (2,347) 31,159
impact of adjusting
items*, net of tax
Underlying RC profit* 2,991 3,293 4,807 13,836 27,653
Operating cash flow* 9,377 8,747 13,571 32,039 40,932
Capital expenditure* (4,711) (3,603) (7,369) (16,253) (16,330)
Divestment and other 300 655 614 1,843 3,123
proceeds(a)
Surplus cash flow* 2,755 3,107 4,985 7,876 19,065
Net issue (repurchase) of (1,350) (2,047) (3,240) (7,918) (9,996)
shares
Net debt*(b) 20,912 22,324 21,422 20,912 21,422
Return on average capital 18.1% 30.5%
employed (ROACE)* (%)
Adjusted EBITDA* 10,568 10,306 13,100 43,710 60,747
Adjusted EBIDA* 34,345 45,695
Announced dividend per 7.270 7.270 6.610 28.420 24.082
ordinary share (cents per
share)
Underlying RC profit per 17.77 19.14 26.44 79.69 145.63
ordinary share* (cents)
Underlying RC profit per 1.07 1.15 1.59 4.78 8.74
ADS* (dollars)
Highlights
Resilient financial and operational performance: 2023 Operating cash
flow $32.0bn; net debt reduced to $20.9bn
Executing with discipline: Started up four major projects* in 2023,
including Seagull in 4Q; Acquisition of TravelCenters of America;
Agreement to acquire Lightsource bp
Growing shareholder distributions: Dividend per ordinary share 7.270
cents per share +10% versus 4Q22; 4Q23 $1.75bn share buyback
announced; committed to announcing $3.5bn share buyback for the first
half of 2024
IOC to IEC - destination is unchanged: we will deliver as a simpler
and more focused company
Looking back, 2023 was a year of strong operational performance with
real momentum in delivery right across the business. And as we look
ahead, our destination remains unchanged - from IOC to IEC - focused
on growing the value of bp. We are confident in our strategy, on
delivering as a simpler, more focused and higher-value company, and
committed to growing long-term value for our shareholders.
Murray Auchincloss Chief executive officer
a. Divestment proceeds are disposal proceeds as per the condensed group
cash flow statement. See page 3 for more information on other proceeds.
b. See Note 9 for more information.
RC profit (loss), underlying RC profit (loss), surplus cash flow, net debt,
ROACE, adjusted EBITDA, adjusted EBIDA, underlying RC profit per ordinary
share and underlying RC profit per ADS are non-IFRS measures. Inventory
holding (gains) losses and adjusting items are non-IFRS adjustments.
* For items marked with an asterisk throughout this document, definitions
are provided in the Glossary on page 34.
Top of page 2
Highlights
Underlying replacement cost profit* $3.0 billion
Underlying replacement cost profit for the quarter was $3.0 billion,
compared with $3.3 billion for the previous quarter. Compared to the
third quarter 2023, the result reflects a strong gas marketing and
trading result, higher oil realizations including the favourable
impact of price-lags on Gulf of Mexico and UAE realizations, higher
gas realizations, significantly lower industry refining margins albeit
with a smaller decrease in realized refining margins, a weak oil
trading result, higher exploration write-offs, and a higher level of
refining turnaround activity. An underlying effective tax rate (ETR)*
of 42% in the fourth quarter brings the full year underlying ETR to
39%.
Reported profit for the quarter was $0.4 billion, compared with $4.9
billion for the third quarter 2023. The reported result for the fourth
quarter is adjusted for inventory holding losses* of $1.2 billion (net
of tax) and a net adverse impact of adjusting items* of $1.5 billion
(net of tax) to derive the underlying replacement cost profit.
Adjusting items pre-tax include impairments of $4.6 billion, largely
as a result of changes in the group's price and discount rate
assumptions, activity phasing, economic forecasts (in particular
related to the Gelsenkirchen refinery) and portfolio composition, and
favourable fair value accounting effects* of $2.6 billion.
Operating cash flow* $9.4 billion and net debt* reduced to $20.9
billion
Operating cash flow in the quarter of $9.4 billion includes a working
capital* release (after adjusting for inventory holding losses, fair
value accounting effects and other adjusting items) of $2.1 billion
(see page 28).
Capital expenditure* in the fourth quarter was $4.7 billion and total
2023 capital expenditure, including inorganic capital expenditure* was
$16.3 billion.
The $1.5 billion share buyback programme announced with the third
quarter results was completed on 2 February 2024.
Net debt was reduced by $1.4 billion to $20.9 billion at the end of
the fourth quarter.
Further $1.75 billion share buyback announced for 4Q23; $3.5 billion
for first half 2024
A resilient dividend is bp's first priority within its disciplined
financial frame, underpinned by a cash balance point* of
around $40 per barrel Brent, $11 per barrel RMM and $3 per mmBtu Henry
Hub (all 2021 real). For the fourth quarter, bp has announced a
dividend per ordinary share of 7.270 cents, up 10% from the fourth
quarter of 2022.
bp is committed to maintaining a strong investment grade credit
rating. Through the cycle, we are targeting to further improve our
credit metrics within an 'A' grade credit range.
bp continues to invest with discipline and a returns focused approach
in our transition growth engines* and in our oil, gas and refining
businesses. For 2024 and 2025 we expect capital expenditure of around
$16 billion per annum, in line with our medium term target of $14-18
billion.
Related to the fourth quarter results, bp intends to execute a $1.75
billion share buyback prior to reporting first quarter results.
Furthermore, bp is committed to announcing $3.5 billion for the first
half of 2024. At current market conditions and subject to maintaining
a strong investment grade credit rating, bp plans share buybacks of at
least $14 billion through 2025 as part of our commitment, on a point
forward basis, to returning at least 80% of surplus cash flow* to
shareholders.
In setting the dividend per ordinary share and buyback each quarter,
the board will continue to take into account factors including the
cumulative level of and outlook for surplus cash flow, the cash
balance point and maintaining a strong investment grade credit rating.
Continued progress in transformation to an integrated energy company
In resilient hydrocarbons, bp announced the start-up of major project*
Seagull, expected to add around 15 thousand barrels of oil equivalent
per day of net production by 2025. In Gulf of Mexico bp sanctioned
Argos Southwest Expansion project and expansion of the Great White
development project. In Brazil, bp was awarded the Tupinambá block
located in the Santos pre-salt basin.Under aim 4, we met our first
goal of deploying our methane measurement approach to all our operated
upstream oil and gas assets by the end of 2023.
In convenience and mobility, bp continued to progress its convenience
strategy, delivering a record convenience gross margin* for a fourth
quarter, bringing full year to 9%(a) excluding TravelCenters of
America, underpinned bycustomer offers driving stronger margin mix,
continued roll-out of strategic conveniences sites*, andstrategic
convenience partnerships. bp and Iberdrola formed a joint venture to
accelerate EV charging infrastructure roll-out in Spain and Portugal,
with plans to invest up to EUR1 billion and install 5,000 fast EV charge
points* by 2025 and around 11,700 by 2030.
In low carbon energy, bp has agreed to acquire the 50.03% interest it
does not already own in Lightsource bp, one of the world's leading
developers and operator of utility-scale solar and battery storage
assets. This transaction is expected to complete in the second half of
2024, subject to regulatory approvals.
In November, bp announced that it will be expanding the use of
generative AI through the use of Copilot for Microsoft 365 - bp is one
of the first companies globally to act as a launch partner for
'intelligent AI assistant'.
Nearest equivalent IFRS measure: Replacement cost profit (loss) before
interest and tax for the customers & products segment is -52% for 2023
compared with 2022. Convenience gross margins are at constant foreign
exchange - values are at end 2023 foreign exchange rates, excluding
TravelCenters of America and adjusting for other portfolio changes.
bp delivered strong underlying financial performance in 2023 - we raised dividend per ordinary share by 10% and bought back $7.9 billion of shares. We remain focused on strengthening the balance sheet, with net debt falling to $20.9 billion, the lowest level over the past decade. As we look forward, we are staying disciplined, tightening our capital expenditure frame and simplifying and enhancing our share buyback guidance through 2025. Kate Thomson Chief financial officer
The commentary above contains forward-looking statements and should be
read in conjunction with the cautionary statement on page 41.
Top of page 3
Financial results
In addition to the highlights on page 2:
* Profit attributable to bp shareholders in the fourth quarter and full
year was $0.4 billion and $15.2 billion respectively, compared with a
profit of $10.8 billion and a loss of $2.5 billion in the same periods
of 2022.
* After adjusting profit attributable to bp shareholders for inventory
holding losses* and net impact of adjusting items*, underlying
replacement cost profit* for the fourth quarter and full year was $3.0
billion and $13.8 billion respectively, compared with $4.8 billion and
$27.7 billion for the same periods of 2022. This reduction in underlying
replacement cost profit for the fourth quarter mainly reflects lower
realizations and the impact of significantly lower refining margins,
partially offset by a strong gas marketing and trading result. For the
full year, the reduction reflects lower realizations, the impact of
portfolio changes, the impact of lower refining margins and a lower oil
trading performance.
* Adjusting items in the fourth quarter and full year had a net adverse
pre-tax impact of $2.6 billion and a net favourable pre-tax impact of
$1.1 billion respectively, compared with a favourable pre-tax impact of
$9.7 billion and an adverse pre-tax impact of $29.8 billion in the same
periods of 2022.
* Adjusting items for the fourth quarter and full year of 2023 include a
favourable impact of pre-tax fair value accounting effects*, relative to
management's internal measure of performance, of $2.6 billion and $9.4
billion respectively, compared with a favourable pre-tax impact of $13.2
billion and an adverse pre-tax impact of $3.5 billion in the same
periods of 2022. This is primarily due to a decline in the forward price
of LNG during 2023. Under IFRS, reported earnings include the
mark-to-market value of the hedges used to risk-manage LNG contracts,
but not of the LNG contracts themselves. The underlying result includes
the mark-to-market value of the hedges but also recognizes changes in
value of the LNG contracts being risk managed.
* Adjusting items for the fourth quarter and full year of 2023 also
include net impairment charges (including impairment charges reported
through equity-accounted earnings) of $4.6 billion and $7.0 billion,
compared with net impairment charges of $3.8 billion and $18.6 billion
in the same periods of 2022. The fourth quarter 2023 impairments have
arisen largely as a result of changes in the group's price and discount
rate assumptions, activity phasing, economic forecasts (in particular
related to the Gelsenkirchen refinery) and portfolio composition. For
further details on the impairment charges see Note 3.
* Adjusting items for the full year 2022 include a pre-tax charge of $24.0
billion relating to bp's decision to exit its 19.75% shareholding in
Rosneft. A further $1.5 billion pre-tax charge relating to bp's decision
to exit its other businesses with Rosneft in Russia is also included.
* The effective tax rate (ETR) on RC profit or loss* for the fourth
quarter and full year was 39% and 33% respectively, compared with 33%
and 117% for the same periods in 2022. Excluding adjusting items, the
underlying ETR* for the fourth quarter and full year was 42% and 39%
respectively, compared with 40% and 34% for the same periods a year ago.
The higher underlying ETR for the full year reflects changes in the
geographical mix of profits and the increased impact of the UK Energy
Profits Levy. ETR on RC profit or loss and underlying ETR are non-IFRS
measures.
* Operating cash flow* for the fourth quarter and full year was $9.4
billion and $32.0 billion respectively, compared with $13.6 billion and
$40.9 billion for the same periods in 2022 driven by the movements in
underlying replacement cost profit and working capital in the periods.
* Capital expenditure* in the fourth quarter and full year was $4.7
billion and $16.3 billion respectively, compared with $7.4 billion and
$16.3 billion in the same periods of 2022. The full year 2023 reflected
the inorganic capital expenditure* of $1.1 billion for the acquisition
of TravelCenters of America in the second quarter 2023. Full year 2022
included $3.0 billion in respect of the Archaea Energy acquisition.
* Total divestment and other proceeds for the fourth quarter and full year
were $0.3 billion and $1.8 billion respectively, compared with $0.6
billion and $3.1 billion for the same periods in 2022. Other proceeds
for full year 2023 were $0.5 billion of proceeds from the sale of a 49%
interest in a controlled affiliate holding certain midstream assets
onshore US. Other proceeds for full year 2022 were $0.6 billion of
proceeds from the disposal of a loan note related to the Alaska
divestment.
* At the end of the fourth quarter, net debt* was $20.9 billion, compared
with $22.3 billion at the end of the third quarter 2023 and $21.4
billion at the end of the fourth quarter 2022.
Top of page 4
Analysis of RC profit (loss) before interest and tax and reconciliation to
profit (loss) for the period
Fourth Third Fourth
quarter quarter quarter Year Year
$ million 2023 2023 2022 2023 2022
RC profit (loss) before
interest and tax
gas & low carbon energy 2,169 2,275 16,439 14,080 14,696
oil production & 1,879 3,427 1,688 11,191 19,721
operations
customers & products (554) 1,549 771 4,230 8,869
other businesses & (16) (500) 103 (903) (26,737)
corporate
Of which:
other businesses & (16) (500) 103 (903) (2,704)
corporate excluding
Rosneft
Rosneft - - - - (24,033)
Consolidation adjustment 95 (57) 147 (14) 139
- UPII*
RC profit before interest 3,573 6,694 19,148 28,584 16,688
and tax
Finance costs and net (977) (978) (818) (3,599) (2,634)
finance expense relating
to pensions and other
post-retirement benefits
Taxation on a RC basis (1,005) (1,859) (6,103) (8,161) (16,430)
Non-controlling interests (65) (211) (358) (641) (1,130)
RC profit (loss) 1,526 3,646 11,869 16,183 (3,506)
attributable to bp
shareholders*
Inventory holding gains (1,497) 1,593 (1,428) (1,236) 1,351
(losses)*
Taxation (charge) credit 342 (381) 362 292 (332)
on inventory holding
gains and losses
Profit (loss) for the 371 4,858 10,803 15,239 (2,487)
period attributable to bp
shareholders
Analysis of underlying RC profit (loss) before interest and tax
Fourth Third Fourth
quarter quarter quarter Year Year
$ million 2023 2023 2022 2023 2022
Underlying RC profit
(loss) before interest
and tax
gas & low carbon energy 1,777 1,256 3,148 8,722 16,063
oil production & 3,549 3,136 4,42812,781 20,224
operations
customers & products 803 2,055 1,902 6,413 10,789
other businesses & (97) (303) (306) (866) (1,171)
corporate
Of which:
other businesses & (97) (303) (306) (866) (1,171)
corporate excluding
Rosneft
Rosneft - - - - -
Consolidation adjustment 95 (57) 147 (14) 139
- UPII
Underlying RC profit 6,127 6,087 9,319 27,036 46,044
before interest and tax
Finance costs and net (891) (882) (649) (3,194) (2,209)
finance expense relating
to pensions and other
post-retirement benefits
Taxation on an underlying (2,180) (1,701) (3,505) (9,365) (15,052)
RC basis
Non-controlling interests (65) (211) (358) (641) (1,130)
Underlying RC profit 2,991 3,293 4,807 13,836 27,653
attributable to bp
shareholders*
Reconciliations of underlying RC profit attributable to bp shareholders to
the nearest equivalent IFRS measure are provided on page 1 for the group and
on pages 6-14 for the segments.
Top of page 5
Operating Metrics
Operating metrics Year 2023 vs Year 2022
Tier 1 and tier 2 process safety events*(a) 39 -11
Reported recordable injury frequency*(a) 0.274 +46.7%
upstream* production(b) (mboe/d) 2,313 +2.6%
upstream unit production costs*(c) ($/boe) 5.78 -4.8%
bp-operated upstream plant reliability* 95.0% -1.0
bp-operated refining availability*(b) 96.1% 1.6
a. In 2023, bp acquired the US-based TravelCenters of America (TA)
business. At the time of publication, TA reporting processes were still
being integrated into bp's reporting processes and as such, TA
performance data is not included in reported data for 2023.
b. See Operational updates on pages 6, 9 and 11. Because of rounding,
upstream production may not agree exactly with the sum of gas & low
carbon energy and oil production & operations.
c. Mainly reflecting impact of portfolio changes.
Reserves replacement ratio*
The organic reserves replacement ratio on a combined basis of subsidiaries
and equity-accounted entities was 47% for the year (2022 20%). The increase
is largely due to additions in BPX Energy in the US and in the Middle East.
Outlook & Guidance
1Q24 guidance
* Looking ahead, bp expects first quarter 2024 reported upstream*
production to be higher compared to fourth-quarter 2023.
* In its customers business, bp expects seasonally lower volumes across
most businesses and the absence of one-off positive effects from the
fourth quarter. In addition, bp expects fuels margins to remain
sensitive to movements in cost of supply.
* In products, bp expects a significantly lower level of refinery
turnaround activity compared to the fourth quarter. In addition, bp
expects lower industry refining margins, with a larger reduction in
realized margins due to narrower North American heavy crude oil
differentials.
2024 guidance
In addition to the guidance on page 2:
* bp expects both reported and underlying upstream production* to be
slightly higher compared with 2023. Within this, bp expects underlying
production from oil production & operations to be higher and production
from gas & low carbon energy to be lower.
* In its customers business, bp expects continued growth from convenience,
including a full year contribution from TravelCenters of America; a
stronger contribution from Castrol underpinned by volume growth in focus
markets; and continued margin growth from bp pulse driven by higher
energy sold. In addition, bp expects fuels margins to remain sensitive
to the cost of supply.
* In products, bp expects a lower level of industry refining margins, with
realized margins impacted by narrower North American heavy crude oil
differentials. bp expects refinery turnaround activity to have a similar
impact on both throughput and financial performance compared to 2023,
with phasing of activity in 2024 heavily weighted towards the second
half.
* bp expects the other businesses & corporate underlying annual charge to
be around $1.0 billion for 2024. The charge may vary from quarter to
quarter.
* bp expects the depreciation, depletion and amortization to be slightly
higher than 2023.
* bp expects the underlying ETR* for 2024 to be around 40% but it is
sensitive to the impact that volatility in the current price environment
may have on the geographical mix of the group's profits and losses.
* bp expects capital expenditure* of around $16 billion, weighted to the
first half.
* bp expects divestment and other proceeds of $2-3 billion in 2024,
weighted towards the second half. Having realized $17.8 billion of
divestment and other proceeds since the second quarter of 2020, bp
continues to expect to reach $25 billion of divestment and other
proceeds between the second half of 2020 and 2025.
* bp expects Gulf of Mexico oil spill payments for the year to be around
$1.2 billion pre-tax including $1.1 billion pre-tax to be paid during
the second quarter.
The commentary above contains forward-looking statements and should be read in conjunction with the cautionary statement on page 41.
Top of page 6
gas & low carbon energy*
Financial results
* The replacement cost (RC) profit before interest and tax for the fourth
quarter and full year was $2,169 million and $14,080 million
respectively, compared with $16,439 million and $14,696 million for the
same periods in 2022. The fourth quarter and full year are adjusted by a
favourable impact of net adjusting items* of $392 million and $5,358
million respectively, compared with a favourable impact of net adjusting
items of $13,291 million and an adverse impact of $1,367 million for the
same periods in 2022. Adjusting items include impacts of fair value
accounting effects*, relative to management's internal measure of
performance, which are a favourable impact of $1,887 million and $8,859
million for the fourth quarter and full year in 2023 and a favourable
impact of $12,502 million and an adverse impact of $1,811 million for
the same periods in 2022. Under IFRS, reported earnings include the
mark-to-market value of the hedges used to risk-manage LNG contracts,
but not of the LNG contracts themselves. The underlying result includes
the mark-to-market value of the hedges but also recognizes changes in
value of the LNG contracts being risk managed. Adjusting items also
include net impairment charges, see Note 3 for further information.
* After adjusting RC profit before interest and tax for adjusting items,
the underlying RC profit before interest and tax* for the fourth quarter
and full year was $1,777 million and $8,722 million respectively,
compared with $3,148 million and $16,063 million for the same periods in
2022.
* The underlying RC profit for the fourth quarter, compared with the same
period in 2022, reflects lower realizations and lower production,
partially offset by a strong gas marketing and trading result. The
underlying RC profit for the full year, compared with 2022, reflects
lower realizations, and a higher depreciation, depletion and
amortization charge.
Operational update
* Reported production for the quarter was 899mboe/d, 6.0% lower than the
same period in 2022. Underlying production* was 3.8% lower, mainly due
to base decline, particularly in Egypt, partly offset by major project*
delivery.
* Reported production for the full year was 929mboe/d, 2.9% lower than the
same period in 2022. Underlying production was 2.3% lower, mainly due to
base decline, partly offset by major project delivery.
* Renewables pipeline* at the end of the quarter was 58.3GW (bp net),
including 19.3GW bp net share of Lightsource bp's (LSbp's) pipeline. The
renewables pipeline increased by 21.1GW net during the full year,
including bp being awarded the rights to develop two North Sea offshore
wind projects in Germany (4GW), increases to LSbp's pipeline (5.3GW),
and an increase in dedicated hydrogen renewables (12.4GW). In addition,
there is over 12GW (bp net) of early stage opportunities in LSbp's
hopper.
Strategic progress
gas
* On 5 December, bp announced the restructuring of the ownership and
commercial framework of the Atlantic LNG joint venture with its partners
Shell and the National Gas Company of Trinidad & Tobago. The
restructuring helps provide the certainty required for sanctioning the
next wave of upstream gas projects and secures the long term LNG equity
offtake for shareholders including bp.
* On 18 January the government of the Republic of Senegal approved bp's
exit from the Cayar Offshore Profond production sharing contract and
designation of Kosmos Energy as the Operator of the Yakaar-Teranga gas
resource.
* On 16 November, bp signed a 9-year sales andpurchase agreement (SPA)
with State-owned Oman LNG to buy one million metric tonnes per annum of
LNG starting 2026.
low carbon energy
* During the quarter, we secured US Department of Energy funding
confirmation for the MachH2 Hub hydrogen project in the US Midwest.
* On 25 January 2024 bp and Equinor announced they had signed an agreement
under which they will restructure their investments in their US offshore
wind projects. Subject to approvals, bp will assume full ownership of
the Beacon projects and Equinor the Empire projects. bp will
independently pursue future US offshore wind opportunities.
* On 30 November bp announced it has agreed to acquire the remaining
50.03% of Lightsource bp. LSbp is one of the world's leading developers
and operator of utility-scale solar and battery storage assets, with
1,200 employees in 19 countries. The acquisition includes LSbp's hopper
of 38GW renewables pipeline and an additional 25GW of early stage
opportunities. The transaction is expected to close in the second half
of 2024, subject to regulatory approvals.
* On 17 January 2024 bp announced it has agreed to acquire GETEC ENERGIE
GmbH, a leading independent supplier of energy to commercial and
industrial customers in Germany.
Top of page 7
gas & low carbon energy (continued)
Fourt- Third Fourth
h
quart- quarter quarter Year Year
er
$ million 2023 2023 2022 2023 2022
Profit before interest and 2,169 2,275 16,429 14,081 14,688
tax
Inventory holding (gains) - - 10 (1) 8
losses*
RC profit before interest 2,169 2,275 16,439 14,080 14,696
and tax
Net (favourable) adverse (392) (1,019) (13,291) (5,358) 1,367
impact of adjusting items
Underlying RC profit before 1,777 1,256 3,148 8,722 16,063
interest and tax
Taxation on an underlying RC (746) (448) (1,163) (2,730) (4,367)
basis
Underlying RC profit before 1,031 808 1,985 5,992 11,696
interest
Fourt- Third Fourt-
h h
quart- quart- quart- Year Year
er er er
$ million 2023 2023 2022 2023 2022
Depreciation, depletion and
amortization
Total depreciation, depletion and 1,290 1,543 1,373 5,680 5,008
amortization
Exploration write-offs Exploration write-offs 349 15 (6) 362 2
Adjusted EBITDA* Total adjusted EBITDA 3,416 2,814 4,515 14,764 21,073
Capital expenditure*
gas 848 833 1,032 3,025 3,227
low carbon energy 478 222 577 1,256 1,024
Total capital expenditure 1,326 1,055 1,609 4,281 4,251
Fourth Third Fourth
quarter quarter quarter Year Year
2023 2023 2022 2023 2022
Production (net of royalties)(a)
Liquids* (mb/d) 99 106 121 105 118
Natural gas (mmcf/d) 4,637 4,875 4,844 4,778 4,866
Total hydrocarbons* (mboe/d) 899 946 956 929 957
Average realizations*(b)
Liquids ($/bbl) 78.87 76.69 80.50 77.03 89.86
Natural gas ($/mcf) 6.18 5.38 9.40 6.13 8.91
Total hydrocarbons* ($/boe) 40.17 36.82 57.60 40.21 56.34
a. Includes bp's share of production of equity-accounted entities in the
gas & low carbon energy segment.
b. Realizations are based on sales by consolidated subsidiaries only -
this excludes equity-accounted entities.
Top of page 8
gas & low carbon energy (continued)
31 30 31
December Septembe- December
r
low carbon energy(c) 2023 2023 2022
Renewables (bp net, GW) Installed renewables capacity* 2.7 2.5 2.2
Developed renewables to FID* 6.2 6.1 5.8
Renewables pipeline 58.3 43.9 37.2
of which by geographical area:
Renewables pipeline - Americas 18.8 18.4 17.0
Renewables pipeline - Asia Pacific 21.3 12.1 11.8
Renewables pipeline - Europe 14.6 13.4 8.3
Renewables pipeline - Other 3.5 - 0.1
of which by technology:
Renewables pipeline - offshore wind 9.3 9.3 5.2
Renewables pipeline - onshore wind 12.7 6.1 6.3
Renewables pipeline - solar 36.3 28.5 25.7
Total Developed renewables to FID and 64.5 50.0 43.0
Renewables pipeline
c. Because of rounding, some totals may not agree exactly with the sum of
their component parts.
Top of page 9
oil production & operations
Financial results
* The replacement cost (RC) profit before interest and tax for the fourth
quarter and full year was $1,879 million and $11,191 million
respectively, compared with $1,688 million and $19,721 million for the
same periods in 2022. The fourth quarter and full year are adjusted by
an adverse impact of net adjusting items* of $1,670 million and $1,590
million respectively, mainly relating to net impairment charges (see
Note 3), compared with an adverse impact of net adjusting items of
$2,740 million and $503 million for the same periods in 2022.
* After adjusting items, the underlying RC profit before interest and tax*
for the fourth quarter and full year was $3,549 million and $12,781
million respectively, compared with $4,428 million and $20,224 million
for the same periods in 2022.
* The underlying RC profit for the fourth quarter, compared with the same
period in 2022, primarily reflects the impact of lower realizations. The
underlying RC profit for the full year, compared with the same period in
2022, reflects lower realizations, and the impact of portfolio changes,
partly offset by higher volumes.
Operational update
* Reported production for the quarter was 1,421mboe/d, 8.6% higher than
the fourth quarter of 2022. Underlying production* for the quarter was
8.5% higher compared with the fourth quarter of 2022 reflecting bpx
energy performance and major projects*.
* Reported production for the full year was 1,383mboe/d, 6.7% higher than
the same period of 2022. Underlying production for the full year was
6.3% higher compared with the same period of 2022 reflecting bpx energy
performance and major projects and base performance.
Strategic Progress
* In October bp, with partners Neptune Energy and JAPEX, successfully
started production from the Seagull oil and gas field in the UK North
Sea. Seagull is a four-well development tied back to the Eastern Trough
Area Project (ETAP) hub (bp 50% operator).
* The first of two wells for the Murlach oil and gas field in the UK North
Sea were spudded in October, following regulatory approval of the field
development plan in September (bp 80% operator).
* bp and its partners approved the development of the Argos Southwest
Extension project in the Gulf of Mexico which will be a three well
subsea tie-back to the Argos platform (bp operator 60.5%).
* Partners approved the expansion of the Shell operated Great White
development in the Gulf of Mexico through a phased three well campaign
(bp 33.33%).
* In November, bpx energy production surpassed 400mboe/d, up more than 25%
versus fourth-quarter 2022 levels with contributions across each
operating basin. bpx energy remains on track to deliver 2025 volumes 30
to 40% higher than 2022 levels.
* bp was the apparent high bidder on 24 lease blocks in the Gulf of Mexico
lease sale 261 held on 20 December 2023.
* In December bp was awarded operatorship of the Tupinamba block, in the
Santos Pre Salt Basin, in Brazil.
* Our Angolan 50:50 joint venture with Eni, Azule Energy, progressed with
four new exploration agreements in blocks adjacent to existing
operations (46, 47, 14/23 and 18/15).
Fourth Third Fourth
quarter quarter quarter Year Year
$ million 2023 2023 2022 2023 2022
Profit before interest and 1,879 3,426 1,686 11,191 19,714
tax
Inventory holding (gains) - 1 2 - 7
losses*
RC profit before interest 1,879 3,427 1,688 11,19119,721
and tax
Net (favourable) adverse 1,670 (291) 2,740 1,590 503
impact of adjusting items
Underlying RC profit before 3,549 3,136 4,428 12,781 20,224
interest and tax
Taxation on an underlying (1,433) (1,386) (2,015) (5,998) (9,143)
RC basis
Underlying RC profit before 2,116 1,750 2,413 6,783 11,081
interest
Top of page 10
oil production & operations (continued)
Fourt- Third Fourt-
h h
quart- quart- quart- Year Year
er er er
$ million 2023 2023 2022 2023 2022
Depreciation, depletion and
amortization
Total depreciation, depletion and 1,563 1,432 1,383 5,692 5,564
amortization
Exploration write-offs Exploration write-offs 32 59 73 384 383
Adjusted EBITDA* Total adjusted EBITDA 5,144 4,627 5,884 18,857 26,171
Capital expenditure*
Total capital expenditure 1,636 1,644 1,430 6,278 5,278
Fourth Third Fourth
quarter quarter quarter Year Year
2023 2023 2022 2023 2022
Production (net of royalties)(a)
Liquids* (mb/d) 1,024 1,011 966 1,010 952
Natural gas (mmcf/d) 2,305 2,155 1,989 2,165 1,998
Total hydrocarbons* (mboe/d) 1,421 1,382 1,309 1,383 1,297
Average realizations*(b)
Liquids ($/bbl) 76.22 71.10 80.43 72.09 89.62
Natural gas ($/mcf) 3.65 3.44 10.20 4.17 10.46
Total hydrocarbons* ($/boe) 59.69 56.76 74.60 58.34 82.23
a. Includes bp's share of production of equity-accounted entities in the
oil production & operations segment.
b. Realizations are based on sales by consolidated subsidiaries only -
this excludes equity-accounted entities.
Top of page 11
customers & products
Financial results
* The replacement cost (RC) result before interest and tax for the fourth
quarter and full year was a loss of $554 million and a profit of $4,230
million respectively, compared with a profit of $771 million and $8,869
million for the same periods in 2022. The fourth quarter and full year
are adjusted by an adverse impact of net adjusting items* of $1,357
million and $2,183 million respectively, mainly relating to an
impairment of the Gelsenkirchen refinery (see Note 3), compared with an
adverse impact of net adjusting items of $1,131 million and $1,920
million for the same periods in 2022. Adjusting items include impacts of
fair value accounting effects*, relative to management's internal
measure of performance, which are a favourable impact of $144 million
for the quarter and an adverse impact of $86 million for the full year
in 2023, compared with a favourable impact of $189 million and an
adverse impact of $309 million for the same periods in 2022.
* After adjusting items, the underlying RC profit before interest and tax*
for the fourth quarter and full year was $803 million and $6,413 million
respectively, compared with $1,902 million and $10,789 million for the
same periods in 2022.
* The customers & products result for the fourth quarter was lower than
the same period in 2022, primarily reflecting the impact of
significantly lower refining margins and a lower contribution from oil
trading, partly offset by significantly lower turnaround impacts and a
stronger customers performance. The result for the full year was
significantly lower than the same period in 2022, primarily reflecting
the impact of lower refining margins and a lower oil trading
performance.
* customers - the convenience and mobility result, excluding Castrol, for
the fourth quarter was higher than the same period in 2022, with the
benefit of higher fuels margins, a strong aviation result underpinned by
higher volumes and margins, and continued strong growth in convenience.
The fourth quarter and full year results were also impacted by higher
costs, including increased expenditure in our transition growth
engines*, inflationary impacts and increased depreciation.
The Castrol result for the fourth quarter was higher compared to the same
period in 2022, primarily due to higher margins underpinned by lower cost of
supply and higher volumes, with the fourth quarter of 2022 impacted by COVID
restrictions, notably in China.
* products - the products results for the fourth quarter and full year
were lower compared with the same periods in 2022. In refining, the
result for the fourth quarter reflected significantly lower industry
refining margins, partially offset by a significantly lower impact from
turnaround and maintenance activity. The full year result was primarily
impacted by significantly lower industry refining margins, higher
turnaround activity albeit with a lower margin impact, partly offset by
a lower level of maintenance activity. The oil trading contribution for
the fourth quarter was weak compared to the average result in the same
period last year. The full year result was also lower, as the first half
of 2022 benefited from an exceptionally strong oil trading performance.
Operational update
* bp-operated refining availability* for the fourth quarter and full year
was 96.1%, higher compared with 95.0% and 94.5% for the same periods in
2022 due to a lower level of maintenance activity. Utilization for the
fourth quarter and full year, adjusted for portfolio changes, was lower
than the same periods in 2022, with the fourth quarter utilization
impacted by higher turnaround activity.
Strategic progress
* Strong underlying convenience gross margin* delivery with around 9%(a)(b)
year over year growth, underpinned by customer offers driving stronger
margin mix, continued roll-out of strategic convenience sites*, and
strategic convenience partnerships.
* In November, bp entered into an agreement to sell its Türkiye ground
fuels business to Petrol Ofisi. This includes the group's interest in
three joint venture terminals in Türkiye. Completion of the sale is
subject to regulatory approvals.
* EV charge points* installed and energy sold in the year grew by around
35% and 150% respectively, compared to 2022, with charge points now over
29,000. In addition, on 1 December bp and Iberdrola formed a joint
venture to accelerate EV charging infrastructure roll-out in Spain and
Portugal, with plans to invest up to EUR1 billion and install 5,000 fast(c)
EV charge points by 2025 and around 11,700 by 2030; and in China, bp
continues to invest in fast growing southern districts, and in January
acquired 3,000 charge points through the bp Xiajou joint venture.
* In November, Air bp collaborated with Virgin Atlantic, Rolls Royce,
Boeing, and others, to fuel the first 100% sustainable aviation fuel
(SAF) transatlantic flight by a commercial airline. The SAF was a blend
derived from inputs supplied by Air bp and Virent. Together, this
enabled up to 70% lifecycle carbon emission savings compared to the
conventional jet fuel it replaces.
* In Castrol, our market leading position in advanced EV-fluids was
further strengthened, now three out of four of the world's major vehicle
manufacturers use Castrol ON products as part of their factory fill(d).
In addition, Castrol has continued to grow its independent branded
workshops, adding around 4,500 workshops in 2023, compared to 2022, with
workshops now over 34,000 in total.
* In December, bp's Archaea Energy announced it had brought two more
renewable natural gas plants online, the Monty plant in Kentucky and the
Red Top plant in California.
a. Nearest equivalent IFRS measure: Replacement cost profit before
interest and tax for the customers & products segment is -52% for 2023
compared with 2022.
b. At constant foreign exchange - values are at end 2023 foreign exchange
rates, excluding TravelCenters of America and adjusted for other
portfolio changes.
c. "fast charging" includes rapid charging >=50kW and ultra-fast charging
>=150kW.
d. Based on GlobalData report for 2023 for top 20 selling global OEMs
(total new vehicles sales).
Top of page 12
customers & products (continued)
Fourth Third Fourt-
h
quarter quarter quart- Year Year
er
$ million 2023 2023 2022 2023 2022
Profit (loss) before interest (2,051) 3,143 (645) 2,993 10,235
and tax
Inventory holding (gains) 1,497 (1,594) 1,416 1,237 (1,366)
losses*
RC profit (loss) before (554) 1,549 771 4,230 8,869interest and tax
Net (favourable) adverse 1,357 506 1,131 2,183 1,920
impact of adjusting items
Underlying RC profit before 803 2,055 1,902 6,413 10,789
interest and tax
Of which:(a)
customers - convenience & 882 670 628 2,644 2,966
mobility
Castrol - included in 213 185 70 730 700
customers
products - refining & trading (79) 1,385 1,274 3,769 7,823
Taxation on an underlying RC (239) (167) (400) (1,454) (2,308)
basis
Underlying RC profit before 564 1,888 1,502 4,959 8,481
interest
a. A reconciliation to RC profit before interest and tax by business is
provided on page 31.
Fourt- Third Fourt-
h h
quart- quart- quart- Year Year
er er er
$ million 2023 2023 2022 2023 2022
Adjusted EBITDA*(b)
customers - convenience & mobility 1,348 1,151 962 4,380 4,252
Castrol - included in customers 256 228 110 897 853
products - refining & trading 397 1,819 1,681 5,581 9,407
1,745 2,970 2,643 9,961 13,659
Depreciation, depletion and amortization Total depreciation, depletion and 942 915 741 3,548 2,870 amortization
Capital expenditure*
customers - convenience & mobility 790 435 694 3,135 1,779
Castrol - included in customers 90 60 98 262 235
products - refining & trading(c) 813 367 3,455 2,118 4,473
Total capital expenditure 1,603 802 4,149 5,253 6,252
b. A reconciliation to RC profit before interest and tax by business is
provided on page 31.
c. Fourth quarter and full year 2022 include $3,030 million in respect of
the Archaea Energy acquisition.
Retail(d) Fourth Third Fourth
quarter quarter quarter Year Year
2023 2023 2022 2023 2022
bp retail sites* - total (#) 21,100 21,150 20,650 21,100 20,650
Strategic convenience sites* 2,850 2,750 2,400 2,850 2,400
d. Reported to the nearest 50.
Marketing sales of refined Fourth Third Fourth
products (mb/d)
quarte- quarte- quarte- Year Year
r r r
2023 2023 2022 2023 2022
US 1,205 1,280 1,126 1,210 1,136
Europe 1,037 1,093 1,069 1,040 1,021
Rest of World 465 474 461 468 456
2,707 2,847 2,656 2,718 2,613
Trading/supply sales of refined 355 392 325 358 350
products
Total sales volume of refined 3,062 3,239 2,981 3,076 2,963
products
Top of page 13
customers & products (continued)
Refining marker margin* Fourt- Third Fourt-
h h
quart- quart- quart- Year Year
er er er
2023 2023 2022 2023 2022
bp average refining marker margin 18.5 31.8 32.2 25.8 33.1
(RMM)(e) ($/bbl)
e. The RMM in the quarter is calculated based on bp's current refinery
portfolio. On a comparative basis, the fourth quarter and full year 2022
RMM would be $32.2/bbl and $33.1/bbl respectively.
Refinery throughputs (mb/d) Fourth Third Fourth
quarte- quarte- quarte- Year Year
r r r
2023 2023 2022 2023 2022
US 634 690 615 662 678
Europe 678 760 763 749 804
Rest of World - - - - 22
Total refinery throughputs 1,312 1,450 1,378 1,411 1,504
bp-operated refining 96.1 96.3 95.0 96.1 94.5
availability* (%)
Top of page 14
other businesses & corporate
Other businesses & corporate comprises innovation & engineering, bp
ventures, Launchpad, regions, corporates & solutions, our corporate
activities & functions and any residual costs of the Gulf of Mexico oil
spill. It also includes Rosneft results up to 27 February 2022.
Financial results
* The replacement cost (RC) loss before interest and tax for the fourth
quarter and full year was $16 million and $903 million respectively,
compared with a profit of $103 million and a loss of $26,737 million for
the same periods in 2022. The fourth quarter and full year are adjusted
by a favourable impact of net adjusting items* of $81 million and an
adverse impact of $37 million respectively, compared with a favourable
impact of net adjusting items of $409 million and an adverse impact of
$25,566 million for the same periods in 2022. Adjusting items include
impacts of fair value accounting effects* which are a favourable impact
of $579 million for the quarter and a favourable impact of $630 million
for the full year in 2023, and a favourable impact of $515 million and
an adverse impact of $1,381 million for the same periods in 2022.
Adjusting items also include impacts of environmental charges which are
an adverse impact of $565 million for the quarter. The adjusting items
for the full year in 2022 mainly relate to Rosneft.
* After adjusting RC loss for net adjusting items, the underlying RC loss
before interest and tax* for the fourth quarter and full year was $97
million and $866 million respectively, compared with a loss of $306
million and $1,171 million for the same periods in 2022, mainly
reflecting foreign exchange impacts for the fourth quarter and increased
interest income for the full year.
Fourt- Third Fourt-
h h
quart- quart- quart- Year Year er er er
$ million 2023 2023 2022 2023 2022 Profit (loss) before interest and (16) (500) 103 (903) (26,737) tax
Inventory holding (gains) losses* - - - - - RC profit (loss) before interest (16) (500) 103 (903) (26,737) and tax
Net (favourable) adverse impact (81) 197 (409) 37 25,566 of adjusting items(a)
Underlying RC profit (loss) (97) (303) (306) (866) (1,171) before interest and tax
Taxation on an underlying RC 121 162 43 322 439 basis
Underlying RC profit (loss) 24 (141) (263) (544) (732)
before interest
a. Includes fair value accounting effects relating to the hybrid bonds
that were issued on 17 June 2020. See page 35 for more information.
other businesses & corporate (excluding Rosneft)
Fourt- Third Fourt-
h h
quart- quart- quart- Year Year er er er
$ million 2023 2023 2022 2023 2022 Profit (loss) before interest and (16) (500) 103 (903) (2,704) tax
Inventory holding (gains) losses* - - - - - RC profit (loss) before interest (16) (500) 103 (903) (2,704) and tax
Net (favourable) adverse impact of (81) 197 (409) 37 1,533 adjusting items
Underlying RC profit (loss) before (97) (303) (306) (866) (1,171) interest and tax
Taxation on an underlying RC basis 121 162 43 322 439 Underlying RC profit (loss) before 24 (141) (263) (544) (732) interest
other businesses & corporate (Rosneft)
Fourt- Third Fourt-
h h
quart- quart- quart- Year Year er er er
$ million 2023 2023 2022 2023 2022 Profit (loss) before interest and - - - - (24,033) tax
Inventory holding (gains) losses* - - - - - RC profit (loss) before interest - - - - (24,033)
and tax Net (favourable) adverse impact of - -- - 24,033 adjusting items
Underlying RC profit (loss) before - - - - - interest and tax
Taxation on an underlying RC basis - - - - - Underlying RC profit (loss) before - - - - - interest
Top of page 15
Financial statements
Group income statement
Fourth Third Fourth
quarte- quarte- quarte- Year Year
r r r
$ million 2023 2023 2022 2023 2022
Sales and other operating 52,141 53,269 69,257 210,130 241,392 revenues (Note 5) Earnings from joint ventures (290) (198) 189 67 1,128 - after interest and tax Earnings from associates - 156 271 129 831 1,402 after interest and tax Interest and other income 599 410 608 1,635 1,103 Gains on sale of businesses (20) 264 173 369 3,866 and fixed assets Total revenues and other 52,586 54,016 70,356 213,032 248,891 income Purchases 31,062 29,951 34,101 119,307 141,043 Production and manufacturing 5,751 6,080 6,841 25,044 28,610 expenses Production and similar taxes 445 456 557 1,779 2,325 Depreciation, depletion and 4,060 4,145 3,714 15,928 14,318 amortization (Note 6) Net impairment and losses on 3,958 542 3,629 5,857 30,522 sale of businesses and fixed assets (Note 3) Exploration expense 501 97 140 997 585 Distribution and 4,733 4,458 3,654 16,772 13,449 administration expenses Profit (loss) before 2,076 8,287 17,720 27,348 18,039 interest and taxation Finance costs 1,038 1,039 834 3,840 2,703
Net finance (income)
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
BP PLC DL-,25 | 850517 | Frankfurt | 5,580 | 26.06.24 21:38:32 | -0,042 | -0,75% | 0,000 | 0,000 | 5,632 | 5,622 |
|
BP PLC DZ/1 DL-,25 | 861873 | Frankfurt | 5,560 | 26.06.24 21:49:03 | -0,040 | -0,71% | 0,000 | 0,000 | 5,560 | 5,600 |
