Registration document 2011 - tota - Total.com

2 Business
44
overview
Chemicals
4. Chemicals
The Chemicals segment includes Base Chemicals, with
petrochemicals and fertilizers, and Specialty Chemicals, with the
Group’s elastomer processing, adhesives and electroplating
chemistry activities. TOTAL is one of the world’s largest integrated
chemical producers (1) .
Chemicals segment key financial data
(M€) 2011 2010 2009
Non-Group sales 19,477 17,490 14,726
Incl. Base Chemicals 12,656 10,653 8,655
Incl. Specialty Chemicals 6,819 6,824 6,071
Adjusted operating income 697 893 249
Adjusted net operating income 775 857 272
Incl. Base Chemicals 373 393 16
Incl. Specialty Chemicals 426 475 279
For the full year 2011, Chemicals segment sales, excluding
intra-Group sales, were €19,477 million, an increase of 11%
compared to 2010.
The adjusted net operating income was €775 million compared to
€857 million in 2010. Petrochemicals benefited from the ramp-up
of its operations in Qatar and South Korea, but saw its margins
decline in the second half of the year in Europe and the United
States. Specialty Chemicals income, excluding impacts of portfolio
changes, remained close to that of 2010.
The ROACE (2) of the Chemicals segment was 10.5% in 2011
compared to 12% in 2010.
(1) Données société, sur la base du chiffre d’affaires consolidé.
(2) Calculated based on adjusted net operating income and average capital employed, using replacement cost.
TOTAL. Registration Document 2011
2011 consolidated sales by geographic area
In 2011, Chemicals sales were €19.48 billion, compared to
€17.49 billion in 2010 and €14.73 billion in 2009. Europe,
North America and Asia accounted for 61%, 23% and 12%,
respectively, of the Chemicals segment’s sales in 2011, with the
remaining sales (4%) attributable to Africa and Latin America.
In October 2011, the Group announced a proposed reorganization
of its Downstream and Chemicals segments. The procedure for
informing and consulting with employee representatives took place
and the reorganization became effective on January 1, 2012.
This led to organizational changes, with the creation of:
North America 23%
Asia 12%
Rest of World 4%
Europe 61%
– a Refining & Chemicals segment, a large industrial center that
encompasses refining, petrochemicals, fertilizers and specialty
chemicals operations. This segment also includes oil trading
and shipping activities.
– a Supply & Marketing segment, which is dedicated to worldwide
supply and marketing activities in the oil products field.
The Chemicals activities described thereafter, including the data
as of December 31, 2011, are presented based on the organization
in effect up to December 31, 2011.