TotalEnergies avoids the corporate surtax in 2025 due to a lack of profits in France

"This is not deliberate on our part, we would prefer to make profits (in France) and pay the tax (corporate tax, editor's note) and the surtax," said the CEO during the presentation of his annual results to the press.

In 2025, sectoral difficulties in its refining activities in France, which had "a rather catastrophic start to the year", combined with technical difficulties, reduced its profits in France to almost nothing.

As a result, the group suffered "tax losses in France", which Mr. Pouyanné estimated at 300 million euros.

"If there are tax losses, there is no surtax," he said.

However, he indicated that the group would pay "approximately 170 or 175 million euros" in share buyback tax for 2025.

The 2026 budget, adopted in early February, has maintained for the 2nd year the exceptional contribution on the profits of large companies, a surtax on corporate tax which targets multinationals and which will affect around 300 companies in 2026. It is expected to bring in 7,3 billion euros this year to the State coffers.

The exceptional contribution will apply to companies with a turnover of at least €1,5 billion. Medium-sized enterprises (ETIs) will therefore be exempt.

LVMH estimated its "contribution" in 2025 at around 700 million euros, Vinci at 400 million, Safran between 380 and 400 million, L'Oréal at "a little over 250 million", Hermès and Airbus at around 300 million each, Engie and Bouygues at 100 million each.