EX-99.9 11 y00602exv99w9.htm TOTALFINAELF'S SALES IN THE 1ST QTR OF 2003 exv99w9
 

Exhibit 99.9

TOTALFINAELF’s SALES IN THE FIRST QUARTER OF 2003

1. CONSOLIDATED SALES

                   
      2003   2002
      TOTALFINAELF   TOTALFINAELF
     
 
      (million euros)   (million euros)
UPSTREAM
                
 
First quarter
     8 186       6 749  
DOWNSTREAM
                
 
First quarter
     19 418       15 268  
CHEMICALS
                
 
First quarter
     4 704       4 823  
HOLDING
                
 
First quarter
     39       28  
Consolidation eliminations of internal sales
                
 
First quarter
     -4 044       -3 084  
CONSOLIDATED SALES
                
 
First quarter
     28 303       23 784  

TotalFinaElf’s consolidated sales increased by 19% to 28,303 million euros for the first quarter 2003 from 23,784 million euros for the same period last year. This variance is primarily due to the increase of crude prices and European refining margins which was partially offset by the decrease of the dollar relative to the euro. The euro/dollar exchange rate averaged 1.07 in the first quarter 2003 versus 0.88 for the same period last year. The average Brent oil price increased by 49% to $31.5/b from $21.1/b in the first quarter 2002.

 

2. PARENT COMPANY’s SALES

                   
      2003   2002
     
 
      (million euros)   (million euros)
OIL & GAS SALES
                
 
First quarter
     1 230       935  
SERVICES PERFORMED
                
 
First quarter
     294       212  
GLOBAL AMOUNT
                
 
First quarter
     1 524       1 147