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CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA

PKN Orlen SA · May 15, 2008 · 23 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 1
    Consolidated financial results of PKN ORLEN 1Q 2008 Wojciech Heydel, CEO (acting) Waldemar Maj, CFO May 15th, 2008 1
  2. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 2
    AGENDA Key financial and operational results in 1Q 2008 Key factors influencing EBIT in 1Q 2008 Supporting slides 2
  3. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 3
    FINANCIAL RESULTS Financial results in the Group in 1Q 2008 are significantly better compared to 1Q 2007. Operational profit before amortisation (EBITDA) increased by around PLN 160 m, and net profit increased by around PLN 580 m. Cash…
  4. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 4
    OPERATIONAL PROFIT Operational profit in the Group in 1Q 2008 is higher by PLN 190 m ( over 50%) compared to 1Q 2007. Operational profit significantly increased in refining segment (by PLN 175 m) and retail (by PLN 35 m). y/y change…
  5. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 5
    SALES Sales volumes in the Group in 1Q 2008 are significantly higher compared to 1Q 2007. Wholesale volumes increased by almost 900 kt (22%) and retail volumes by almost 120 kt (9%). y/y change q/q change kt 1Q2007 4Q2007 1Q2008…
  6. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 6
    PRODUCTION Crude oil throughput and production volumes in 1Q 2008 are significantly higher compared to 1Q 2007. Production share of diesel, light heating oil (LHO) and aviation fuel JET increased by over 2.5 pp y/y in 1Q 2008 to the…
  7. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 7
    PROJECTS REALISATION In 1Q 2008 PKN Orlen implemented projects aimed at increasing production and sales of fuel, mainly diesel, as well as non-fuel products and services in retail segment. Segment Activities realised Achieved…
  8. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 8
    MAZEIKIU NAFTA In 1Q 2008 in Mazeikiu Nafta refinery, after restarting Vacuum Distillation Column, the crude oil throughput and feedstock were restored gradually, month by month, first reaching and subsequently exceeding production level…
  9. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 9
    AGENDA Key financial and operational results in 1Q 2008 Key factors influencing EBIT in 1Q 2008 Supporting slides 9
  10. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 10
    INCREASE IN GROUP EFFICIENCY Group efficiency increase in all key companies led to EBIT increase of PLN 190 m. PLN m EBIT change + PLN 190 m 1 200 efficiency change inventory valuation macro and one-offs + PLN 584 m - PLN 588…
  11. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 11
    REFINING EBIT increase by PLN 175 m mainly due to positive inventory valuation effect and efficiency increase in Mazeikiu Nafta. PLN m EBIT change + PLN 175 m 800 inventory valuation macro and one-offs efficiency change + PLN 589 m…
  12. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 12
    RETAIL EBIT increase by over 50% due to fuel sales volume increase and improvement of efficiency in non-fuel area. PLN m EBIT change + PLN 35 m efficiency change + PLN 35 m 140 2 120 Fuel sales volume 11 increase by 9% y/y…
  13. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 13
    PETROCHEMICALS EBIT in 1Q 2008 is lower compared to 1Q 2007 due to negative macro impact. Segment efficiency increased by PLN 112 m. PLN m EBIT change - PLN 138 m inventory valuation macro efficiency change - PLN 5 m - PLN 245 m +…
  14. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 14
    CHEMICALS EBIT increase by PLN 9 m mainly due to increase of fertilizers sales and strong market demand. PLN m EBIT change + PLN 9 m 140 macro efficiency change + PLN 11 m - PLN 2 m 120 100 11 5 6 10 80 60 23 91 40 82…
  15. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 15
    AGENDA Key financial and operational results in 1Q 2008 Key factors influencing EBIT in 1Q 2008 Supporting slides 15
  16. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 16
    MACROECONOMIC ENVIRONMENT IN REFINING PKN ORLEN model refining margin (Group) 1) PKN ORLEN model refining margin (Plock) 2) Decrease by 65% y/y to 1.3 /b in 1Q08 Decrease by 51% y/y to 2.5 /b in 1Q08 5,9 8,0 3,7 5,1 4,1 2,6 2,7 3,7…
  17. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 17
    MACROECONOMIC ENVIRONMENT IN PETROCHEMICALS AND CHEMICALS Model petrochemical margin on olefins1 Model petrochemical margin on polyolefins2 Increase by 8% y/y to 617 USD/t in 1Q08 Decrease by 16% y/y to 252 EUR/t in 1Q08 569 617…
  18. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 18
    UNIPETROL AND MAZEIKIU NAFTA IMPACT ON PKN ORLEN GROUP RESULTS Unipetrol MN impact change y/y change q/q IFRS, PLN m 1Q'07 4Q'07 impact 1Q'08 1Q'08 [%] [%] 1Q'08 1 2 3 4 5 6=5/1 7=5/2 Revenues 13 408 16 902 3 088 3 653 17 938…
  19. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 19
    UNIPETROL AND MAZEIKIU NAFTA IMPACT ON COSTS BY KIND Unipetrol MN impact IFRS, PLN m 1Q'07 4Q'07 impact 1Q'08 y/y [%] q/q [%] 1Q'08 1Q'08 1 2 3 4 5 6=5/1 7=5/2 Raw materials and energy 8 067 8 914 2 272 3 383 11 792 46% 32% Costs…
  20. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 20
    UNIPETROL AND MAZEIKIU NAFTA IMPACT ON EBIT IN PKN ORLEN GROUP BY SEGMENT Uniqpetrol MN impact IFRS, PLN m 1Q'07 4Q'07 impact 1Q'08 y/y [%] q/q [%] 1Q'08 1Q'08 1 2 3 4 5 6=5/1 7=5/2 EBIT, of which 375 104 59 -98 565 51% 443% 1…
  21. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 21
    KEY PRODUCTION DATA K ey o p er ati o n al d ata 1Q'07 4Q'07 1Q'08 y /y [%] q /q [%] 1 2 3 4= 3/1 5= 3/2 1 R efin ery in Po lan d Processed crude (tt) 3 348 3 512 3 421 2,2% -2,6% U tilisation 97% 102% 97% 0pp -5pp White products…
  22. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 22
    MAZEIKIU NAFTA GROUP KEY ELEMENTS OF THE FINANCIAL STATEMENTS1 y/y change q/q change IFRS, USD m 1Q'07 4Q'07 1Q'08 [%] [%] 1 2 3 4=3/1 5=3/2 Revenues 599 832 1 568 162% 89% EBITDA -47 -17 9 - - EBIT -57 -26 -3 95% 89% Net profit…
  23. CONSOLIDATED FINANCIAL RESULTS OF 1Q 2008 – PKN Orlen SA – slide 23
    UNIPETROL GROUP KEY ELEMENTS OF THE FINANCIAL STATEMENTS1 y/y change q/q change IFRS, CZK m 1Q'07 4Q'07 1Q'08 [%] [%] 1 2 3 4=3/1 5=3/2 Revenues 20 633 21 149 22 149 7% 5% EBITDA 3 110 227 1 491 -52% 557% EBIT 2 318 -657 653 -72%…

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