Analysis of Revenues
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Revenues as Reported
SLB N.V., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Digital & Integration | |||||||||||
| Reservoir Performance | |||||||||||
| Well Construction | |||||||||||
| Production Systems | |||||||||||
| Eliminations & other | |||||||||||
| Revenue |
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Overall Revenue Trend
- The total revenue exhibited a consistent upward trajectory from 2020 to 2024. Despite a slight decline observed in 2021, revenues increased significantly in subsequent years, reaching the highest point in 2024.
- Digital & Integration Segment
- Revenue in this segment showed steady growth over the analyzed periods. Starting at 3,076 million USD in 2020, it rose incrementally each year, reaching 4,247 million USD in 2024, reflecting increasing demand or expansion within this area.
- Reservoir Performance Segment
- This segment experienced volatility with an initial decline from 5,602 million USD in 2020 to 4,599 million USD in 2021. However, a recovery and continued growth followed, with revenues ascending to 7,177 million USD by 2024, signaling a positive turnaround and strengthening performance.
- Well Construction Segment
- Revenue in well construction showed stable values in 2020 and 2021, followed by a marked increase in 2022 and 2023, peaking at 13,478 million USD in 2023. A marginal decline was observed in 2024, though revenues remained substantially higher than earlier years, indicating robust demand for well construction services.
- Production Systems Segment
- This segment demonstrated consistent growth throughout the period, with revenues rising from 6,650 million USD in 2020 to 12,143 million USD in 2024. The acceleration in revenue growth especially after 2021 suggests successful expansion or increased market share in production systems.
- Eliminations & Other
- The eliminations and other adjustments consistently reflected negative values, increasing in magnitude each year from -332 million USD in 2020 to -635 million USD in 2024. This pattern indicates growing inter-segment adjustments or eliminations related to consolidated revenues.
- Summary
- Overall, the revenue profile reveals a strong growth trend across most primary segments, particularly in production systems and reservoir performance after initial fluctuations. Stable expansion in digital and integration services complements the growth seen in core operational areas. The slight dip in revenue within well construction in the final year does not materially affect its overall positive trend. Eliminations have become more significant in size, suggesting complexity in consolidated reporting but do not detract from the upward direction of total revenues.