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TotalEnergies: who benefits from the company’s record profits?
TotalEnergies: who benefits from the company’s record profits? – (France 2)
TotalEnergies’ new record profits are causing controversy. The company generated nearly 20 billion euros in profits in 2023, unheard of while fuel prices are rising.
Record profits for the French energy giant: TotalEnergies posts a result of 19.8 billion euros in net profits in 2023, an increase of 4% compared to 2022. Shareholders are the first to share the cake , since their dividends increased by 7% in one year. Employees benefited from a 5% salary increase as well as a bonus of at least 2,000 euros.
Pump prices continue to rise
While prices at the pump have been on the rise again for three weeks, these results are making some motorists jump. “Everyone makes a profit off everyone else, and it’s us, the consumers, who suffer.”, underlines a woman at the gas pump. For a year, TotalEnergies has capped its prices at 1.99 euros per liter, which is insufficient for certain professionals, such as taxi drivers. The company has spent 6 billion euros in investments in France, half of which is for the energy transition. The group will pay 320 million euros in taxes on its profits
