BAKU, Azerbaijan, November 5. TotalEnergies has updated on its robust performance in the integrated power segment for the first nine months of 2024, driven by strategic investments and operational efficiencies, Trend reports.
The segment’s adjusted net operating income surged by 21% year-on-year to $1.598 billion, highlighting the success of the company’s efforts in renewable power and customer-focused energy solutions.
The company’s cash flow from operations excluding working capital (CFFO) reached $1.951 billion for the nine-month period, representing a substantial 35% increase from $1.447 billion in the same period last year.
This growth aligns with TotalEnergies’ strategic vision to expand its integrated power operations across all stages of the value chain. The total cash flow from operating activities, however, dropped by 40% from the previous year’s $2.935 billion, influenced by capital reallocation and heightened investments in renewable and flexible power assets.
TotalEnergies’ commitment to growth is reflected in its net investments, which have risen sharply to $4.422 billion, a 128% increase from the $1.939 billion recorded in the first nine months of 2023. The company’s organic investments also saw a significant 18% increase, reaching $2.246 billion.
Acquisitions have been a major component of this growth strategy, with the company spending $2.176 billion net of asset sales, marking a 19% increase from last year.