Royal Dutch Shell's second quarter 2013 earnings, on a current cost of
supplies (CCS) basis (see Note 1), were $2.4 billion compared with $6.0
billion in the same quarter a year ago. Second quarter 2013 earnings
included an identified net charge of $2.2 billion after tax, mainly
reflecting impairments (see page 6).
* Second quarter 2013 CCS earnings excluding identified items (see page 6),
were $4.6 billion and included a combined negative impact of $0.7 billion
after tax related to the impact of the weakening Australian dollar on a
deferred tax liability and the impact of the deteriorating operating
environment in Nigeria. Compared to the second quarter 2012, CCS earnings
excluding identified items were also impacted by higher operating expenses
and depreciation as well as increased exploration well write-offs. Second
quarter 2012 CCS earnings excluding identified items were $5.7 billion.
* Basic CCS earnings per share excluding identified items decreased by 21%
versus the same quarter a year ago.
* Cash flow from operating activities for the second quarter 2013 was $12.4
billion, compared with $13.3 billion in the same quarter last year.
Excluding working capital movements, cash flow from operating activities
for the second quarter 2013 was $8.4 billion, compared with $9.5 billion in
the second quarter 2012.
* Capital investment for the second quarter 2013 was $11.3 billion. Net
capital investment (see Note 1) for the quarter was $10.9 billion.
* Total dividends distributed in the quarter were $2.8 billion, of which some
$0.8 billion were settled under the Scrip Dividend Programme. During the
second quarter some 56.2 million shares were bought back for cancellation
for a consideration of $1.9 billion.
* Gearing at the end of the second quarter 2013 was 10.3% (see Note 2).
* A second quarter 2013 dividend has been announced of $0.45 per ordinary
share and $0.90 per American Depositary Share ("ADS"), an increase of 5%
compared with the second quarter 2012.
