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Royal Dutch Shell AR6788_Shell_FAOI_Cover_spine 25/5/06 4:09 pm Page 1 Royal Dutch Shell plc PUBLICATION REQUESTS PUBLICATIONS Royal Dutch Shell plc Annual Report and Form 20-F Financial and Operational Information More information about the Group c/o Bankside for the year ended December 31, 2005 2001 – 2005 is available at www.shell.com Royal Dutch Shell plc Tel: +44 (0)1635 232700 A comprehensive overview of the Group. Five years’ financial and operational e-mail: [email protected] information about the Group, including Available at www.shell.com/annualreport Financial and Operational Information 2001– 2005 maps of exploration and production activities. Annual Review and Summary Financial Available at www.shell.com/faoi Financial and Operational Information 2001– 2005 Statements 2005 A summarised overview of the Group and the operational and financial performance of the business. Available at www.shell.com/annualreport The above documents are available in both English and Dutch from the address listed on the left. De bovenstaande documenten zijn zowel in het Engels als in het Nederlands verkrijgbaar bij het links vermelde adres. Shell General Business Principles Fundamental principles that govern how each Shell company conducts its affairs. Available at www.shell.com/sgbp The Shell Sustainability Report 2005 Report on progress in contributing to sustainable development. Available at www.shell.com/envandsociety 50040 Shell 5 Year_ ifc_03.qxd 25/5/06 1:15 pm Page ifc2 2005 Results: Revenue $306.7 billion Income for the period $26.3 billion Cash flow from operating activities $30.1 billion Earnings per share – IFRS Total assets less total liabilities – IFRS Dividends paid to shareholders – IFRS $ $ million $ million 05 3.79 05 97,924 05 10,556 04 2.74 04 91,383 04 7,391 Earnings per share – US GAAP Net assets before minority interest – US GAAP Dividends paid to shareholders – US GAAP $ $ million $ million 03 1.81 03 81,666 03 6,352 02 1.41 02 69,763 02 5,522 01 1.45 01 66,288 01 5,188 Throughout this booklet, a billion = 1,000 million. About this booklet The Financial and Operational Information booklet contains forward-looking statements concerning the risks, project delay or advancement, approvals and cost estimates; and (m) changes in trading financial condition, results of operations and businesses of Royal Dutch Shell. All statements other than conditions. All forward-looking statements contained in this booklet are expressly qualified in their statements of historical fact are, or may be deemed to be, forward-looking statements. Forward- entirety by the cautionary statements contained or referred to in this section. Readers should not place looking statements are statements of future expectations that are based on management’s current undue reliance on forward-looking statements. Each forward-looking statement speaks only as of the expectations and assumptions and involve known and unknown risks and uncertainties that could date of this booklet. Neither Royal Dutch Shell nor any of its subsidiaries undertake any obligation to cause actual results, performance or events to differ materially from those expressed or implied in publicly update or revise any forward-looking statement as a result of new information, future events or these statements. Forward-looking statements include, among other things, statements concerning the other information. In light of these risks, results could differ materially from those stated, implied or potential exposure of Royal Dutch Shell to market risks and statements expressing management’s inferred from the forward-looking statements contained in this booklet. expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking Please refer to the Annual Report on Form 20-F for the year ended December 31, 2005 for a statements are identified by their use of terms and phrases such as ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, description of certain important factors, risks and uncertainties that may affect the businesses of the ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘may’’, ‘‘plan’’, ‘‘objectives’’, ‘‘outlook’’, ‘‘probably’’, ‘‘project’’, Shell Group. ‘‘will’’, ‘‘seek’’, ‘‘target’’, ‘‘risks’’, ‘‘goals’’, ‘‘should’’ and similar terms and phrases. There are a This booklet has not been subject to audit. number of factors that could affect the future operations of Royal Dutch Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this booklet, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in Cautionary Note to US Investors demand for the Group’s products; (c) currency fluctuations; (d) drilling and production results; (e) The United States Securities and Exchange Commission (SEC) permits oil and gas companies, in their reserve estimates; (f) loss of market and industry competition; (g) environmental and physical risks; (h) filings with the SEC, to disclose only proved reserves that a company has demonstrated by actual risks associated with the identification of suitable potential acquisition properties and targets, and production or conclusive formation tests to be economically and legally producible under existing successful negotiation and completion of such transactions; (i) the risk of doing business in developing economic and operating conditions. Investors are urged to consider closely the disclosure in our Annual countries and countries subject to international sanctions; (j) legislative, fiscal and regulatory Report on Form 20-F for the year ended December 31, 2005, File No 1-32575 and disclosure in our developments including potential litigation and regulatory effects arising from recategorisation of Forms 6-K file No 1-32575, available on the SEC’s website www.sec.gov. You can also obtain these reserves; (k) economic and financial market conditions in various countries and regions; (l) political forms from the SEC by calling 1-800-SEC-0330. 50040 Shell 5 Year_ ifc_03.qxd 25/5/06 1:16 pm Page i OUR STRATEGY OF MORE UPSTREAM AND PROFITABLE DOWNSTREAM AIMS TO REINFORCE OUR POSITION AS A LEADER IN THE INDUSTRY, WHICH AIMS TO PROVIDE INVESTORS WITH A COMPETITIVE AND SUSTAINED TOTAL SHAREHOLDER RETURN. THE OBJECTIVES OF THE SHELL GROUP ARE TO ENGAGE EFFICIENTLY, RESPONSIBLY AND PROFITABLY IN OIL, OIL PRODUCTS, GAS, CHEMICALS AND OTHER SELECTED BUSINESSES. THE COMPANY PARTICIPATES IN THE SEARCH FOR AND DEVELOPMENT OF OTHER SOURCES OF ENERGY TO MEET EVOLVING CUSTOMER NEEDS AND THE WORLD’S GROWING DEMAND FOR ENERGY. WE BELIEVE THAT OIL AND GAS WILL BE INTEGRAL TO THE GLOBAL ENERGY NEEDS FOR ECONOMIC DEVELOPMENT FOR MANY DECADES TO COME. OUR ROLE IS TO ENSURE THAT WE EXTRACT AND DELIVER THESE PROFITABLY, USING ENVIRONMENTALLY AND SOCIALLY RESPONSIBLE MEANS. THIS BOOKLET SUPPLEMENTS THE ROYAL DUTCH SHELL PLC ANNUAL REPORT AND FORM 20-F FOR THE YEAR ENDED DECEMBER 31, 2005, WHICH CONTAIN FINANCIAL STATEMENTS AND INFORMATION ON THE SHELL GROUP, INCLUDING DETAILS OF THE ACCOUNTING POLICIES EMPLOYED. REFERENCE TO THIS ANNUAL REPORT WILL ASSIST THE UNDERSTANDING OF THE INFORMATION IN THIS BOOKLET. 01 Nature of Group Financial Statements 15 Depreciation, depletion and operational data and amortisation 02 Royal Dutch Shell shares 16 Capital employed, Taxation 03 Royal Dutch Shell dividends 17 Employee data 04 Financial Statements 18 Exploration & Production 04 Consolidated Statement of Income and 46 Gas & Power earnings per share 49 Oil Products 06 Consolidated Balance Sheet 50 Refining 08 Consolidated Statement of Cash Flows 52 Oil sales 10 Earnings by industry segment, Quarterly 53 Shipping earnings by industry segment 54 Chemicals 12 Financial ratios, dollar exchange rates 57 Other industry segments, Research 13 Capital investment 58 Financial calendar 14 Fixed assets 50040 Shell 5 Year_ ifc_03.qxd 25/5/06 1:16 pm Page 1 NATURE OF GROUP FINANCIAL STATEMENTS AND OPERATIONAL DATA In 2005, as a result of the Unification Transaction, Royal Dutch Shell The Consolidated Financial Statements have been prepared using the carry- became the single 100% parent company of Royal Dutch Petroleum over basis to account for the Unification and on the basis that the resulting Company (“Royal Dutch”) and of Shell Transport and Trading Company structure was in place throughout the periods presented. Limited (previously known as The “Shell” Transport and Trading Company, The 2005 and 2004 Financial Statements contained in this booklet have p.l.c.) (“Shell Transport”) the two former public parent companies of the been prepared in accordance with applicable laws in England and Wales Group. and with International Financial Reporting Standards (“IFRS”) as adopted by The Unification Transaction did not result in the formation of a new reporting the European Union. As applied to Royal Dutch Shell, there are no material entity. Immediately after the Unification Transaction each former Royal Dutch differences with IFRS as issued by the International Accounting Standards and Shell Transport shareholder who participated in the Unification Board. The 2003, 2002 and 2001 Financial Statements contained in this Transaction held the same economic interest in Royal Dutch Shell as the booklet have been prepared in accordance with US Generally Accepted shareholder held in the Group immediately prior to implementation of the Accounting Principles (US GAAP), applied by the Group prior to its transition Unification Transaction. Accordingly, the Unification Transaction has been date to IFRS. accounted for
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