This column was broadcast on franceinfo radio before the announcement by TotalEnergies of its results for the third quarter. The updated text takes these figures into account.
The profit of TotalEnergies exceeds 6 billion euros for this 3rd quarter. 6.5 billion euros is more than the profits already made by TotalEnergies in the second quarter (5.7 billion) but also in the first quarter (4.6 billion). We are already at 17 billion since the beginning of the year. TotalEnergies has therefore already exceeded its profits of last year, 14 billion euros, which were already presented as exceptional. To give an idea, 14 billion is the envelope provided to ensure the safety of the French or the cost of the tariff shield on gas and electricity for 2023.
TotalEnergies is of course a group driven by the price of a barrel of oil and gas, which have remained very high this year. It should be noted that while the group retains its head office in France, it makes 95% of its profits abroad.
These good results are likely to further fuel the conflict over wages and this will not help to calm down. After a month of strike, there are still supply problems in the stations. The Gonfreville-l’Orcher refinery in Normandy is still shut down. There is precisely a general assembly Thursday, October 27 to decide whether or not to renew the movement. In Feyzin in the Rhône, the shipping service is also disrupted, which prevents truck exits. And this, despite the majority agreement signed with unions, at the national level on October 14th. The CGT does not recognize it, so the showdown with management continues. As a reminder, this agreement provides for the payment in December of a bonus between three and 6,000 euros and a general increase of 7% in wages for 2023.
What is controversial is also the salary of the boss, Patrick Pouyanné: six million euros this year. Even if he explains that it is a catch-up, after voluntary wage moderation, because of the Covid, this remuneration is struggling to pass. More broadly, there is the question of the distribution of wealth, because the shareholders will also benefit from these very good results: in October, they received a dividend of 1.8 billion euros in total and in December, they will have an exceptional payment of two billion euros. This further fuels social tensions.