Total S.A.

  • TickerTOT.
  • ISINARDEUT112075
  • ExchangeBuenos Aires Stock Exchange
  • SectorOil & Gas Producers
  • CountryFrance

Analysts

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 31/10/2019 - BNP Paribas - EN

TP ICAP - Europe - Morning CreditUpdate 31/10/2019 - BNP Paribas - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 31/10/2019 - BNP Paribas - FR

BNP Paribas (Conserver) : Résultat avant impôts de €8,9mds (+4,0%) sur les 9M-19 Peugeot / Fiat Chrysler Automobiles (Achat) : 3,7mds de synergies sont à attendre de la fusion Standard Chartered (Achat) - 9M-19 : PNB de $11,7 mds (+2,6%) BBVA (Achat) - 9M-19 : PNB de €18,1 mds ( 3,0%, 3,8% à tcc) Casino (Achat souches courtes, Conserver souches longues): Emission senior de €750m, garantie par une holding regroupant les actifs immobiliers en France General Electric (Achat) - 9M-19 : Perte nette de -$6,0mds (-$23,4mds un an avant) Johnson & J...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 14/10/2019 - BP, Atlantia/Abertis

BP (Achat) : $7,6 mds de cessions à ce jour, dépréciation non cash d’environ $2 md / $3 mds Atlantia / Abertis (Achat) : Prise de contrôle de Red de Carreteras de Occidente pour €1,5 md Trafigura (Conserver) : Les actionnaires minoritaires de Nyrstar réclament €1,5 md au groupe   Total (Achat) : Va acquérir 37,4% du capital du distributeur de gaz Adani Gas Limited pour $600m Metro (Vente) : Recevra €1 md suite à la cession de ses activités en Chine Ford (Achat) : Les ventes en Chine chutent de -30,3% au T3-19, un éventuel nouvel accord comme...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 01/10/2019 - CK Hutchison - EN

CK Hutchison (M/P): New Issues Expected For Approximately €10bn RBI (O/P): A CMS bond that could benefit from an early buyback (call) Italy: Expects A Deficit Of 2.2% In 2020 ALD (O/P): €250m Financing From The European Investment Bank (EIB) CABB (U/P): Issues €640m In Three Tranches Novafives (U/P): Moody's Downgrades The Rating One Notch To Caa1, The Outlook Is Negative Bonds Of Pirelli (O/P) And Fromageries Bel (O/P) remain attractive

Expert Corporate Governance Service (ECGS)

Total - AGM 29 May 2019

ITEM 10: The Company’s disclosure allows for a perfect understanding of amounts granted. However, these amounts are too generous (€5.8 M, i.e. 278 times the French minimum wage and 124% of the CAC 40 median) and ECGS considers a 80%-vesting when reaching the median is excessive. ITEM 11: In terms of structure and amounts, this remuneration policy does not respect our Guidelines; however, this issue could be sanctioned if needed in 2020 when shareholders vote on the implementation of this remuneration policy (ex-post vote in 2020 on 2019 remunerations). The changes proposed, especially the addi...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 31/10/2019 - BNP Paribas - EN

TP ICAP - Europe - Morning CreditUpdate 31/10/2019 - BNP Paribas - EN

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 31/10/2019 - BNP Paribas - FR

BNP Paribas (Conserver) : Résultat avant impôts de €8,9mds (+4,0%) sur les 9M-19 Peugeot / Fiat Chrysler Automobiles (Achat) : 3,7mds de synergies sont à attendre de la fusion Standard Chartered (Achat) - 9M-19 : PNB de $11,7 mds (+2,6%) BBVA (Achat) - 9M-19 : PNB de €18,1 mds ( 3,0%, 3,8% à tcc) Casino (Achat souches courtes, Conserver souches longues): Emission senior de €750m, garantie par une holding regroupant les actifs immobiliers en France General Electric (Achat) - 9M-19 : Perte nette de -$6,0mds (-$23,4mds un an avant) Johnson & J...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 14/10/2019 - BP, Atlantia/Abertis

BP (Achat) : $7,6 mds de cessions à ce jour, dépréciation non cash d’environ $2 md / $3 mds Atlantia / Abertis (Achat) : Prise de contrôle de Red de Carreteras de Occidente pour €1,5 md Trafigura (Conserver) : Les actionnaires minoritaires de Nyrstar réclament €1,5 md au groupe   Total (Achat) : Va acquérir 37,4% du capital du distributeur de gaz Adani Gas Limited pour $600m Metro (Vente) : Recevra €1 md suite à la cession de ses activités en Chine Ford (Achat) : Les ventes en Chine chutent de -30,3% au T3-19, un éventuel nouvel accord comme...

Marnik Hinnekens

TP ICAP - Europe - Morning CreditUpdate 01/10/2019 - CK Hutchison - EN

CK Hutchison (M/P): New Issues Expected For Approximately €10bn RBI (O/P): A CMS bond that could benefit from an early buyback (call) Italy: Expects A Deficit Of 2.2% In 2020 ALD (O/P): €250m Financing From The European Investment Bank (EIB) CABB (U/P): Issues €640m In Three Tranches Novafives (U/P): Moody's Downgrades The Rating One Notch To Caa1, The Outlook Is Negative Bonds Of Pirelli (O/P) And Fromageries Bel (O/P) remain attractive

TOTAL S.A.: Lower capex and resilient upstream performance drive return to FCF in 2017

CORPORATES ISSUER COMMENT 14 February 2017 Contacts Elena Nadtotchi 44-20-7772-5380 VP-Sr Credit Officer [email protected] Anke N. Richter, CFA 44-20-7772-1433 Associate Managing Director [email protected] TOTAL S.A. Lower capex and resilient upstream performance drive return to FCF in 2017 On 9 February 2017, Total reported its 2016 results. The company's reported a 26% declin

Expert Corporate Governance Service (ECGS)

Total - AGM 29 May 2019

ITEM 10: The Company’s disclosure allows for a perfect understanding of amounts granted. However, these amounts are too generous (€5.8 M, i.e. 278 times the French minimum wage and 124% of the CAC 40 median) and ECGS considers a 80%-vesting when reaching the median is excessive. ITEM 11: In terms of structure and amounts, this remuneration policy does not respect our Guidelines; however, this issue could be sanctioned if needed in 2020 when shareholders vote on the implementation of this remuneration policy (ex-post vote in 2020 on 2019 remunerations). The changes proposed, especially the addi...

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