Q3 2019 Total SA Earnings Call Transcript
Ladies and gentlemen, thank you for standing by, and welcome to Total's Q3 2019 Results Conference Call. (Operator Instructions) I must advise you that this conference is being recorded today, Wednesday, the 30th of October 2019.
I would like now to turn the call over to Jean-Pierre Sbraire, Chief Financial Officer. Please go ahead, sir.
Thank you. This is Jean-Pierre Sbraire. Total reported strong third quarter results demonstrating the ability of our diversified portfolio to resist volatility in the markets, particularly in terms of strong cash flow generation. Debt-adjusted cash flow was $7.4 billion, a slight decrease of 2% compared to the same quarter last year despite the 18% drop in the average Brent price and a decrease of more than 50% for spot gas prices in Europe and Asia. The resilience was due mainly to cash equity volume growth of more than 8%, strong contributions from integrated gas and Downstream and company-wide efforts to cut costs and reduce the breakeven.
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