Shell fell on the stock market after disappointing figures

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Shell was particularly troubled by lower gas and oil prices, gas trade collapsed in particular in the last months of the year. At the same time, the company felt the cooling of global economic growth. This put pressure on margins in the part that makes fuels and chemical products.

Lower than expected result

All in all, the largest company from the AEX index recorded a profit of 15.8 billion dollars (14.3 billion euros) last year. That is about a third lower than in 2018.

In the fourth quarter of the year, the profit was even more than five times lower than a year earlier. Investors had not expected such a sharp decline, according to figures from data agency Refinitiv.

Delay in share buy-back

Shell further warned investors that it might not be possible to buy back 25 billion dollars of its own shares before the end of this year, as previously announced.

According to CEO Ben van Beurden, Shell will still buy back 25 billion dollars in shares, but the pace of the purchase will depend on the macroeconomic conditions and further debt reduction.

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