RDS: 1st Q 2012 Unaudited Results

THE HAGUE, The Netherlands, April 26, 2012 /PRNewswire/ --

- Royal Dutch Shell's (NYSE: RDS.A) (NYSE: RDS.B) first quarter 2012 earnings, on a current cost of supplies (CCS) basis (see Note 1), were $7.7 billion compared with $6.9 billion in the same quarter a year ago.

- First quarter 2012 CCS earnings excluding identified items (see page 5) were $7.3 billion compared with $6.3 billion in the first quarter 2011, an increase of 16%.

- Basic CCS earnings per share excluding identified items for the first quarter 2012 increased by 15% versus the same quarter a year ago.

- Cash flow from operating activities for the first quarter 2012 was $13.4 billion. Excluding net working capital movements, cash flow from operating activities in the first quarter 2012 was $12.7 billion.

- Capital investment for the first quarter 2012 was $7.0 billion. Net capital investment (see Note 1) for the quarter was $4.6 billion. Total dividends distributed in the quarter were $2.7 billion, of which $1.0 billion were settled under the Scrip Dividend Programme.

- Gearing at the end of the first quarter 2012 was 9.9%.

- A first quarter 2012 dividend has been announced of $0.43 per ordinary share and $0.86 per American Depositary Share (ADS), an increase of 2.4% compared with the first quarter 2011 US dollar dividend.

    Summary OF unaudited results
                  $ million                         Quarters
                                          Q1 2012 Q4 2011 Q1 2011 %[1]
 
    Income attributable to shareholders     8,719   6,500   8,780  -1
    Current cost of supplies (CCS)
    adjustment for Downstream              (1,060)    (41) (1,855)
    CCS earnings                            7,659   6,459   6,925 +11
    Less: Identified items[2]                 380   1,613     637
    CCS earnings excluding identified
    items                                   7,279   4,846   6,288 +16
    Of which:
    Upstream                                6,253   5,107   4,638
    Downstream                              1,121    (278)  1,653
    Corporate and Non-controlling
    interest                                  (95)     17      (3)
 
    Cash flow from operating activities    13,439   6,465   8,621 +56
 
    Basic CCS earnings per share ($)         1.23    1.04    1.12 +10
    Basic CCS earnings per ADS ($)           2.46    2.08    2.24
    Basic CCS earnings per share excl.
    identified items ($)                     1.17    0.78    1.02 +15
    Basic CCS earnings per ADS excl.
    identified items ($)                     2.34    1.56    2.04
 
    Dividend per share ($)                   0.43    0.42    0.42  +2
    Dividend per ADS ($)                     0.86    0.84    0.84
    [1] Q1 on Q1 change
 
    [2] See page 5

Royal Dutch Shell Chief Executive Officer Peter Voser commented:

"We are making good progress against our targets to deliver a more competitive performance. Our profits pay for Shell's dividends and substantial investments in new energy projects, to ensure affordable, reliable energy supplies for our customers, which create value for our shareholders.

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