Skip to main content 3Q 2012 – PKN Orlen SA Investor Presentation | Shale Experts
Loading...
Pm

3Q 2012 – PKN Orlen SA

PKN Orlen SA · Oct 25, 2012 · 34 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. 3Q 2012 – PKN Orlen SA – slide 1
    PKN ORLEN consolidated financial results 3Q12 Jacek Krawiec, CEO Sawomir Jdrzejczyk, CFO 25 October 2012
  2. 3Q 2012 – PKN Orlen SA – slide 2
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 2
  3. 3Q 2012 – PKN Orlen SA – slide 3
    PKN ORLEN - 3Q12 highlights Financial parameters PLN 1,0 bn operating profit acc. LIFO. Favourable macro environment (y/y): decrease in crude oil price by (-) 3% to 110 USD/bbl. increase in model refining margin and B/U differential…
  4. 3Q 2012 – PKN Orlen SA – slide 4
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 4
  5. 3Q 2012 – PKN Orlen SA – slide 5
    Favourable macro environment in 3Q12 (y/y) Crude oil price decrease by (-) 3% Impressive increase in refining margin Average Brent Crude Oil price, USD/bbl Model refining margin and Brent/Ural differential, USD/bbl differential margin…
  6. 3Q 2012 – PKN Orlen SA – slide 6
    Lower GDP growth and high prices influence fuel consumption GDP increase1 Fuel consumption (diesel, gasoline)2 Change (%) to respective quarter of last year mt 3Q11 4Q11 1Q12 2Q12 3Q12 3Q11 3Q12 3Q11 3Q12 - 5% 4,1 4,6 3,6 3,30 - 5%…
  7. 3Q 2012 – PKN Orlen SA – slide 7
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 7
  8. 3Q 2012 – PKN Orlen SA – slide 8
    PLN 31,7 bn of sales revenues record-high quarter 3Q11 2Q12 3Q12 PLN m 9M11 9M12 Increase of revenues by 10% (y/y) as a result of higher refining products prices + 10% + 15% and weakening of PLN against USD. 28 682 27 955 31 654 76…
  9. 3Q 2012 – PKN Orlen SA – slide 9
    PLN 1,0 bn of operating profit according to LIFO 3Q11 2Q12 3Q12 change y/y PLN m 9M11 9M12 change 1 392 918 2 010 44% EBITDA 4 872 4 447 -9% 778 375 1 448 86% EBIT, of which: 3 127 2 763 -12% 216 1 233 990 358% EBIT according to…
  10. 3Q 2012 – PKN Orlen SA – slide 10
    Stable sales volumes (y/y) 3Q11 2Q12 3Q12 kt 9M11 9M12 9,6 mt of total sales volumes in 3Q12 comparable level (y/y) 0% - 1% 9 626 8 149 9 627 26 293 26 000 Lower refining sales volumes (y/y) on Sales volumes the Polish market due…
  11. 3Q 2012 – PKN Orlen SA – slide 11
    High crude oil throughput comparable level (y/y) Crude oil throughput Utilisation ratio mt % PKN ORLEN Unipetrol ORLEN Lietuva - 1% 100 97 7,4 7,2 7,4 100 94 94 93 6,7 90 6,4 90 96 90 79 79 79 92 80 74 70 71 57 60 3Q11 4Q11…
  12. 3Q 2012 – PKN Orlen SA – slide 12
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 12
  13. 3Q 2012 – PKN Orlen SA – slide 13
    Safe level of indebtedness and financial ratios Good financial standing Net debt and financial gearing % Financial in PLN bn, % gearing Net debt PLN 5,9 bn and financial gearing 25%. - 3,4 mld Covenant net debt/EBITDA at the level…
  14. 3Q 2012 – PKN Orlen SA – slide 14
    Good stable cash flows from operations before working capital change 3Q11 2Q12 3Q12 change y/y PLN m 9M11 9M12 change Cash flow from operations before 733 783 2 005 1 272 4 251 4 465 214 working capital change 0 -904 0 0 One-off…
  15. 3Q 2012 – PKN Orlen SA – slide 15
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 15
  16. 3Q 2012 – PKN Orlen SA – slide 16
    UPSTREAM Conventional and unconventional projects Unconventional projects (shale gas and tight gas) 8 exploration licenses / 6,75 th km2. Status of projects: 3 vertical wells are finished; 1 horizontal well is in progress. Plan to…
  17. 3Q 2012 – PKN Orlen SA – slide 17
    ENERGY New projects and improvement of efficiency of assets held Building a gas power plant 500 MWe in Wlocawek Advanced preparation of investment. Block building is planned for 4Q12. Start-up in 4Q15. Power plant sales will be…
  18. 3Q 2012 – PKN Orlen SA – slide 18
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 18
  19. 3Q 2012 – PKN Orlen SA – slide 19
    Summary 3Q12 highlights PLN 1,0 bn operating profit acc. to LIFO. PLN 31,7 bn of revenues record-high quarter; increase by 10% (y/y). 9,6 mt sales volumes maintained at high level (y/y). Safe financial position Net debt PLN 5,9…
  20. 3Q 2012 – PKN Orlen SA – slide 20
    Thank You for Your attention www.orlen.pl For more information on PKN ORLEN, please contact Investor Relations Department: phone: + 48 24 256 81 80 fax: + 48 24 367 77 11 e-mail: irorlen.pl 20
  21. 3Q 2012 – PKN Orlen SA – slide 21
    Agenda Supporting slides 21
  22. 3Q 2012 – PKN Orlen SA – slide 22
    PKN ORLEN Favourable macro environment in refining segment PLN m PLN + 670 m 1.500 748 205 1.448 -179 1.000 778 -104 500 0 EBIT 3Q11 Inventory valuation Macro Volumes Other EBIT 3Q12 Negative impact of crude oil price…
  23. 3Q 2012 – PKN Orlen SA – slide 23
    Refining segment Favorable macro environment at stable sales volumes PLN, m PLN + 801 m 1.200 106 1.136 866 1.000 -18 800 600 400 335 200 -153 0 EBIT 3Q11 Inventory valuation Macro Volumes Other EBIT 3Q12 Negative impact of…
  24. 3Q 2012 – PKN Orlen SA – slide 24
    Retail segment High sales at better margins PLN, m PLN +90 m 300 10 9 271 71 0 250 200 181 150 100 50 0 EBIT 3Q11 Fuel margins Volumes Non-fuel sales Other EBIT 3Q12 Maintaining high retail volumes at falling consumption.…
  25. 3Q 2012 – PKN Orlen SA – slide 25
    Petrochemical segment Negative impact of maintenance shutdowns and macro environment PLN, m PLN -154 m 450 49 400 367 350 300 -118 250 87 213 200 150 100 -172 50 0 EBIT 3Q11 Inventory valuation Macro Volumes Other EBIT 3Q12…
  26. 3Q 2012 – PKN Orlen SA – slide 26
    Main P&L elements split by key companies in 3Q12 Others and PKN PKN PKN PKN PKN ORLEN 3) ORLEN Change IFRS, PLN m Unipetrol 3) consolidation ORLEN ORLEN ORLEN ORLEN Change S.A. Lietuva y/y corrections 3Q12 3Q11 9M12 9M11 Revenues 23…
  27. 3Q 2012 – PKN Orlen SA – slide 27
    Operating result split by segments and key companies in 3Q12 Others and PKN PKN PKN PKN PKN ORLEN 4) ORLEN Change IFRS, PLN m Unipetrol 4) consolidation ORLEN ORLEN ORLEN ORLEN Change S.A. Lietuva y/y corrections 3Q12 3Q11 9M12 9M11…
  28. 3Q 2012 – PKN Orlen SA – slide 28
    ORLEN Lietuva Group Key elements of the profit and loss account 1 change 3Q11 2Q12 3Q12 IFRS, USD m 9M11 9M12 change y/y 2 218 1 437 2 323 5% Revenues 6 074 5 691 -6% -5 -56 141 - EBITDA 105 138 31% -24 -68 126 - EBIT 45 93 107%…
  29. 3Q 2012 – PKN Orlen SA – slide 29
    UNIPETROL Group Key elements of the profit and loss account 1 change 3Q11 2Q12 3Q12 IFRS, CZK m 9M11 9M12 change y/y 24 065 27 102 28 438 18% Revenues 73 100 80 989 11% 505 201 1 656 228% EBITDA 2 896 2 576 -11% -230 -437 942 -…
  30. 3Q 2012 – PKN Orlen SA – slide 30
    Macro environment in 4Q12 Crude oil price increase Increase in sum of refining margin and B/U diff Average Brent Crude Oil price, USD/bbl Model refining margin and Brent/Ural differential, USD/bbl + 3 USD/bbl differential margin + 1,1…
  31. 3Q 2012 – PKN Orlen SA – slide 31
    Macro environment in 2012 14 PKN ORLEN Group model refining margin 2011 average 2012 2012 average 2011 12 10 8 6,4 USD/bbl 6 5,3 USD/bbl 4 2,1 USD/bbl 2 0 -2 January February March April May June July August September October…
  32. 3Q 2012 – PKN Orlen SA – slide 32
    Production data change change Production 3Q11 2Q12 3Q12 (r/r) (kw/kw) 9M11 9M12 change Total crude oil throughput in PKN ORLEN (tt) 7 418 6 362 7 431 0% 17% 20 606 20 448 -1% 1 Refinery in Poland Processed crude (tt) 3 953 3 836 3 759…
  33. 3Q 2012 – PKN Orlen SA – slide 33
    Dictionary PKN ORLEN model refining margin = revenues (93,5% Products = 36% Gasoline + 43% Diesel + 14,5% HHO) - costs (100% input: crude oil and other raw materials). Total input calculated acc. to Brent Crude quotations. Spot market…
  34. 3Q 2012 – PKN Orlen SA – slide 34
    www.orlen.pl For more information on PKN ORLEN, please contact Investor Relations Department: phone: + 48 24 256 81 80 fax: + 48 24 367 77 11 e-mail: irorlen.pl 35

From the store

Browse maps, data & reports in the Shale Experts store