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AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA

PKN Orlen SA · Apr 28, 2006 · 21 slides

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Slides

  1. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 1
    PSGJAN05EPK2_OVERVIEW(01).PPT PKN ORLEN audited consolidated financial results: FY 2005 (IFRS) Pawe Szymaski, CFO April 28th 2006 1
  2. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 2
    Audited consolidated financial results 2005 The highest ever results of PKN ORLEN following restructuring and corporate culture changes; supported by market conditions1 The highest ever net profit of PKN ORLEN After Q4'05 in PLN m…
  3. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 3
    Dividend proposal Potential acquisition of Maeikiu Nafta determines the decision of the Management z In case of PKN ORLEN ongoing participation in the tender offer for Maeikiu Nafta, the Management would like to propose to account all…
  4. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 4
    Conclusion of the Unipetrol transaction Calculation of negative goodwill effect in PKN ORLEN consolidated financial report FY2005 Final calculation of negative goodwill associated with Unipetrol acquisition (accounted to other…
  5. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 5
    Financial results 2005 Sound financial results of PKN ORLEN were achieved even after exclusion of one-off items Major one-off negative items in Q405 Major one-off items in 2005 consolidated consolidated results of PKN ORLEN results of PKN…
  6. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 6
    Simplified P&L account Increase of EBIT by 9% excluding negative goodwill effect* audited after Q4'05 IFRS, PLN m 2004 Unipetrol change 28.02.2006 2005 difference difference % 7m'2005 2005/2004 1 2 3 4 5=4-2 6=5/2 7=4/1 Revenues…
  7. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 7
    EBIT of PKN ORLEN by segments Significant improvement of operating results Unipetrol Unipetrol IFRS basis, PLN m 2004 2005 y/y 4kw'05 7months 2005 Operating profit , of which 2 686 66 176 4 947 84,2% negative goodwill 1 894…
  8. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 8
    Macroeconomic environment in 2005 Variable and volatile refining and petrochemical sector Refinery margin Exchange rates average1 5.12 /b average in 20053 Decrease by 9% y/y 2.56 /b average in 1q20063 Decrease by 30% y/y PLN/USD…
  9. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 9
    Agenda Supporting slides z Supporting slides z Segments waterfall charts q/q z Petrochemicals market environment summary z Unipetrol z Retail market in Poland 9
  10. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 10
    PLN m 0 100 200 300 400 500 600 700 800 900 Segment result 2004 496 Q404 LIFO 142 on other oper. Result activity of PKN 54 Sales volumes 52 Unipetrol 53 Refining segment Inland premium…
  11. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 11
    PLN m 0 100 200 300 400 500 Segment result 2004 278 Q404 Internal sales result 90 Sales volumes 59 Unipetrol 40 on other oper. Result activity of PKN 27 USD/PLNrateexchange 3 Cost cutting…
  12. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 12
    PLN m -70 -50 -30 -10 10 30 50 Segment result 2004 -54 Q404 Retail margin 62 Retail segment Result on other oper. activity 20 cutting Cost programme 12 Non-fuels products margin…
  13. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 13
    Petrochemical market from 1 January 2004 to mid April 2006 Ethylene Propylene 1000 900 900 in EUR/tone 800 in EUR/tone 800 700 700 600 600 413 500 500 370 398 427 383 322 314 304 398 389 400 353 338 349 400 290 293 338…
  14. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 14
    Unipetrol Group Selected audited financial data for FY2004 vs. FY2005 Audited financial results of main subsidiaries of Unipetrol a.s. in 000 CZK 2004 IFRS* 2005 IFRS Chem opetrol a.s. Revenues 28,899,450 31,181,618 EBIT 2,743,604…
  15. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 15
    Unipetrol Group Audited financial and operational results for 2005 Audited consolidated financial highlights of Unipetrol a.s. 2004-2005 in '000 CZK 2004 IFRS* 2005 IFRS UNIPETROL a.s. Equity 32 825 771 38 988 043 Total assets 72…
  16. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 16
    Unipetrol Group Selected financial data for FY2003 vs. FY2005 Operational highlights for years 2003-2005 Operating data* Q1'03 Q2'03 Q3'03 Q4'03 2003 Q1'04 Q2'04 Q3'04 Q4'04 2004 Q1'05 Q2'05 Q3'05 Q4'05 2005 Total sales (tt) , of…
  17. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 17
    Retail fuels market in Poland Retail consumption of fuels in Poland in 2005 (in thousand tonnes) Estimated dynamics 2005-2004 Petrol Diesel oil LPG Total of fuels 4 029 5 127 1 775 10 931 - 5.3% + 5.7% + 23.3% + 3.6 % Balance…
  18. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 18
    Fuel pricing International conditions of crude oil price growth Limited relationship between quotation rise and actual crude oil demand and supply Significant premium for political (international) risk Mainly political and not economic…
  19. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 19
    Retail pricing structure for Pb95 in the period January April 2006. Retail price structure 120% Costs to be covered with the gross Gross retail profit retail profit margin: margin 100% 1) Operating costs of a petrol station…
  20. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 20
    Starting from mid March PKN Orlen S.A. has been relieving the adverse outcomes of the growth in crude oil price by decreasing the unit fuel gross margin in Retail 3,7 Retail price 3,6 72,0 Brent oil quotations 3,5 Retail…
  21. AUDITED CONSOLIDATED FINANCIAL RESULTS: FY 2005 – PKN Orlen SA – slide 21
    Pb95 gasoline prices on ORLEN sites in 2006 are lower or equal to prices in the competing Premium stations across Poland -1 gr 0 gr -1 gr 0 gr -2 gr -1 gr 0 gr 0 gr -1 gr -2 gr -1 gr +1 gr -2 gr -1 gr -1 gr -1 gr 21

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