Shell plc reported a decline in financial performance for fiscal year 2024, with revenue dropping to $284.3 billion from $316.6 billion in 2023. Net income attributable to shareholders decreased to $16.1 billion from $19.4 billion YoY, while adjusted earnings fell to $23.7 billion from $28.3 billion. Operating cash flow showed slight improvement at $54.7 billion, up from $54.2 billion in 2023.The company demonstrated strong cost management, reducing operating expenses to $36.9 billion from $40.0 billion YoY and achieving $3.1 billion in structural cost reductions compared to the 2022 baseline. Shareholder distributions remained robust at $22.6 billion, representing 41% of operating cash flow, while maintaining a progressive dividend policy with a 4% annual increase.Looking ahead, Shell plans to maintain capital discipline with targeted annual expenditure of $20-22 billion for 2025-2028. The company completed the strategic sale of its Nigerian onshore subsidiary SPDC and continues to focus on operational efficiency. The gearing ratio improved to 17.7% from 18.8% in 2023, reflecting strengthened balance sheet management despite market challenges.

Shell plc reported a decline in financial performance for fiscal year 2024, with revenue dropping to $284.3 billion from $316.6 billion in 2023. Net income attributable to shareholders decreased to $16.1 billion from $19.4 billion YoY, while adjusted earnings fell to $23.7 billion from $28.3 billion. Operating cash flow showed slight improvement at $54.7 billion, up from $54.2 billion in 2023.The company demonstrated strong cost management, reducing operating expenses to $36.9 billion from $40.0 billion YoY and achieving $3.1 billion in structural cost reductions compared to the 2022 baseline. Shareholder distributions remained robust at $22.6 billion, representing 41% of operating cash flow, while maintaining a progressive dividend policy with a 4% annual increase.Looking ahead, Shell plans to maintain capital discipline with targeted annual expenditure of $20-22 billion for 2025-2028. The company completed the strategic sale of its Nigerian onshore subsidiary SPDC and continues to focus on operational efficiency. The gearing ratio improved to 17.7% from 18.8% in 2023, reflecting strengthened balance sheet management despite market challenges.