CEO: Strong results reflect high demand
"It will be a combination of technology and talent that will enable us to reach our net-zero goal in less than 30 years."
Aramco’s third-quarter 2021 financial results were announced earlier today and our performance during the quarter was strong, reflecting the ongoing recovery in global energy demand. Indeed, Aramco is one of the most profitable companies in the world.
The full details of our exceptional performance in Q3 can be found here, with the headline numbers as follows:
• Net income: $30.4 billion
• Cash flow from operating activities: $36.3 billion
• Free cash flow: $28.7 billion
• Gearing ratio: 17.2% on Sept. 30, 2021 compared to 23% on Dec. 31, 2020
• Q2 dividend of $18.8 billion paid in the third quarter; Q3 dividend of $18.8 billion to be paid in the fourth quarter
These results once again demonstrate our ability to adapt to a constantly changing business environment. Our collective agility as an organization is directly due to the resilience and resolve of every individual at Aramco -– and I want to thank you for your continued dedication and commitment, as well as your relentless efforts to create value and innovation.
Looking ahead, as we aim for net-zero greenhouse gas emissions from our operations by 2050, our drive for innovation must continue. It will be a combination of technology and talent that will enable us to reach our net-zero goal in less than 30 years.
As for the quarter just delivered, our results should be a source of pride for us all as we work to build on this momentum for the rest of this year and into 2022.
president and CEO