TotalEnergies sweeps previous CAC40 profit record

French oil and gas group TotalEnergies announced on Wednesday, February 8 a net profit of $20.5 billion, or 19 billion euros, for 2022, a 28% increase on 2021 levels. This is the largest ever profit for a French multinational and the best in the history of the CAC40. This performance is all the more remarkable if one does not consider the 15 billion euro loss caused by the gradual withdrawal of activities in Russia.

Review the biggest profits of the giants of the Paris Stock Exchange’s flagship index.

► EUR 16 billion (TotalEnergies, 2021)

TotalEnergies had already achieved a feat in 2021 before releasing the record on Wednesday. The group posted a profit of around 16 billion euros, an extraordinary rebound after a historic loss of 5.9 billion euros in 2020 due to the Covid-19 crisis.

As for its rivals ExxonMobil or Chevron, TotalEnergies’ results in 2021 were boosted by a strong recovery in oil demand following the Covid-19 pandemic. This trend continues in 2022 as hydrocarbon prices surged following the outbreak of the Ukraine war.

► $14.9 billion (ArcelorMittal, 2021)

The Luxembourg-based, Paris-listed Indian steel group posted a net profit of $14.9 billion in 2021, buoyed by soaring commodity prices. The decade-old company emerged from the health crisis. Its 2022 results will be announced on Thursday, February 9.

► €14 billion (LVMH, 2022)

2022 is also a record year for the world luxury leader. Billionaire Bernard Arnault’s group will post a net profit of 14 billion euros in 2022 thanks to a sharp increase in activity in Europe, Japan and the United States. As a result, LVMH’s profit surpassed its record profit of 12 billion euros set in 2021.

► EUR 13.4 billion (Stellantis NV, 2021)

The new Franco-Italian-American manufacturers, which notably include Peugeot, have begun to style it. Despite the pessimistic forecasts of experts, its net profit in 2021 will still reach 13.4 billion euros.

However, the group is experiencing logistical problems in the French new car market in 2022, with limited sales of Peugeot and Citroen. Its 2022 annual results will be announced on February 22.

► EUR 10.2 billion (BNP Paribas, 2022)

BNP Paribas on Tuesday 7 February announced an unprecedented net profit of 10.2 billion euros for 2022. It also broke the record of 9.5 billion euros set since 2021.

However, the first European bank performed slightly worse than expected in the fourth quarter of 2022, with a profit of 2.15 billion euros, below analysts’ expectations of 2.22 billion euros.

promising estimate

In 2021, the French ratings champion set records both in terms of turnover and profit. The 40 CAC companies have accumulatively earned nearly 128 billion euros. Airbus, Crédit Agricole, Hermès, Société Générale and Schneider Electric had their most successful year since their inception. Also in 2021, since the creation of the stock market index in 1987, it will break through the profit mark of 100 billion euros for the first time.

That historic threshold could be crossed again in 2022, according to estimates compiled by FactSet. The combined profits of the 40 companies should reach 172 billion euros, up 34 percent from the previous year. The 40 major groups should even have doubled their profits in the last “pre-Covid” financial year compared to 2019.

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