Equinor Reports Strong Q4 Results and Announces Up to USD 5 Billion Share Buy-Back for 2025

Equinor Reports Strong Q4 Results and Announces Up to USD 5 Billion Share Buy-Back for 2025

(IN BRIEF) Equinor reported strong financial results for Q4 2024, with adjusted operating income of USD 7.90 billion and net income of USD 2.00 billion. The company proposed a fourth-quarter dividend of USD 0.37 per share and announced a share buy-back programme for 2025 valued at up to USD 5 billion. Equinor expects strong free cash flow for the next few years, with projected growth in oil and gas production and a focus on reducing capex. While scaling back investments in renewables, the company aims to achieve significant production growth and reduce CO2 emissions, with a long-term goal of net-zero by 2050.

(PRESS RELEASE) STAVANGER, 5-Feb-2025 — /EuropaWire/ — Equinor reported robust financial results for the fourth quarter of 2024, delivering adjusted operating income of USD 7.90 billion and a net income of USD 2.00 billion. The company also achieved an adjusted earnings per share of USD 0.63. For the full year, Equinor demonstrated a solid financial performance, posting a 21% return on average capital employed in 2024, underpinned by stable oil and gas production and strong operational performance.

In terms of capital distribution, Equinor proposed a fourth-quarter cash dividend of USD 0.37 per share and announced a share buy-back programme for 2025 valued at up to USD 5 billion. This is part of the company’s broader strategy to reach a total capital distribution of up to USD 9 billion in 2025. The company expects a sustained growth in free cash flow, anticipating USD 23 billion in free cash flow for 2025-2027, as it continues to reduce capital expenditure and address costs. Equinor also expects to see more than 10% growth in oil and gas production from 2024 to 2027, reflecting an ongoing commitment to increasing operational efficiency.

Anders Opedal, President and CEO of Equinor, expressed confidence in the company’s future growth, stating, “We are well-positioned for continued growth and competitive shareholder returns. With an industry-leading return on capital employed and an oil and gas production growth outlook of over 10% from 2024 to 2027, we are enhancing our free cash flow and driving high-value production growth.” Opedal highlighted the company’s plans to focus investments in high-value projects while reducing investments in renewables and low-carbon solutions, with the ambition to achieve a 10-12 gigawatt renewable capacity by 2030.

Operationally, Equinor reported a stable production rate of 2,072 mboe per day in Q4 2024, with higher production levels in the Norwegian Continental Shelf (NCS) from fields like Troll and Johan Sverdrup. Despite lower international production due to divestments and natural decline, Equinor is focused on improving recovery rates and increasing efficiency through its portfolio of upstream assets. The company has also made significant progress in carbon capture and storage, with plans to store 30-50 million tonnes of CO2 annually by 2035.

Equinor continues to execute on its strategic goals with the aim of cutting emissions, maintaining strong capital discipline, and creating long-term shareholder value. The company is committed to its net-zero ambition by 2050 while delivering competitive returns for investors.

Media Contacts:

Investor Relations:
Bård Glad Pedersen
Senior vice president Investor relations
+47 918 01 791 (mobile)

Press Relation:
Sissel Rinde
Vice president Media relations
+47 412 60 584 (mobile)

SOURCE: Equinor