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Royal Dutch Shell plc (RYDAF) Q1 2021 Results - Earnings Call Transcript

May 01, 2021 5:30 PM ETShell plc (RYDAF), SHEL, RYDBF18 Comments
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Royal Dutch Shell plc (OTCPK:RYDAF) Q1 2021 Earnings Conference Call April 29, 2021 9:00 AM ET

Company Participants

Jessica Uhl - CFO

Wael Sawan - Upstream Director

Conference Call Participants

Oswald Clint - Sanford C. Bernstein

Christyan Malek - JPMorgan

Lydia Rainforth - Barclays

Michele Vigna - Goldman Sachs

Jon Rigby - UBS

Martijn Rats - Morgan Stanley

Biraj Borkhataria - RBC

Christopher Kuplent - Bank of America

Irene Himona - Societe General

Roger Read - Wells Fargo

Lucas Herrmann - Exane

James Hubbard - Deutsche Bank

Jessica Uhl

Welcome, everyone, to our First Quarter 2021 Presentation. In 2020, we adapted to extraordinary circumstances. We took the decisive measures that were needed to create value today and set us up to create value tomorrow. And in February, at our Strategy Day, we presented our plans for the future and laid out our investment case. So, today I will share how we are delivering on our strategy while, at the same time, delivering strong financial performance. And finally, I will highlight our commitment to transparency, as demonstrated in the various disclosures we made in the first quarter.

Let me start with the delivery of our strategy. Our strategy, called Powering Progress, seeks to continuously create value now and in the future for customers, society, and shareholders. Today, we will mainly focus on one of our investment case goals of delivering shareholder value. We plan to do this by accelerating our transformation into a provider of net-zero-emissions energy products and services. That means creating innovative business models, especially in our customer-facing businesses, in our growth pillar. And we are already making progress.

In integrated power, for example, we announced the acquisition of Next Kraftwerke, a German company that specializes in operating virtual power plants. A virtual power plant takes the power generated by thousands of homes

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