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PRELIMINARY 2002 RESULTS – PKN Orlen SA

PKN Orlen SA · Mar 3, 2003 · 18 slides

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Slides

  1. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 1
    Delivering on promises Preliminary 2002 results March 2003 1
  2. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 2
    Market environment - Oil & Gas Crude oil price, Brent (USD/bbl) 29,00 l Decrease in crude demand in 26,00 OECD countries of 0.11 mb/d (y-o-y) 23,00 20,00 l Increase in crude oil (Brent) prices of 2.3% (y-o-y) 17,00 01 03 06 09 12…
  3. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 3
    Market environment potential for growth (q-o-q), but Polish conditions still unfavourable (y-o-y) Real GDP growth 2% lGDP growth at low level, as for EM country, of 1,3% (y-o-y) Yearly average 1.3% 1% l Increase in unemployment…
  4. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 4
    Financial highlights relatively good performace in demanding environment IFRS basis, million PLN Y02 Y01 change l Unfavourable external Revenue 16 828 17 038 -1,2% environment has been fully offset by EBIT 735 617 19,1% control of…
  5. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 5
    Factors affecting 2002 net profit l Poor market environment in Oil&Gas (PLN -503m before tax) l Change of corporate tax rate (PLN -77m after tax) l Lower excise tax allowance (PLN -95m before tax) l Differencebetween capitalization…
  6. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 6
    Operating highlights - more crude oil processed, higher sales volumes in petrochems l Throughput of crude oil slightly IFRS basis, million PLN Y02 Y01 change higher in 2002 as a result mainly Retail sales of higher. demand on…
  7. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 7
    4Q 2002 results March 2003 7
  8. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 8
    Market environment - Oil & Gas Crude oil price, Brent (USD/bbl) 32,00 l Increase in crude demand in 28,00 OECD countries of 0.85 mb/d 26.7 (y-o-y) 24,00 + 37.7% 19.4 l Increase in crude oil (Brent) 20,00 prices of 37.7% (y-o-y)…
  9. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 9
    Profit / Cash flow - visible increase in profitability l Higher prices of products are IFRS basis, million PLN 4Q02 4Q01 change reflected in increase in revenues Revenue 4 703 4 297 9,4% by over 9% Cost of sales -3 859 -3 677 4,9% l As…
  10. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 10
    Balance sheet strong liquidity and solvency IFRS basis, million PLN 4Q02 3Q02 change l Inventories increased by Non-current assets 9 803 9 831 -0,3% some 10% due to high Current assets of which 5 290 5 291 0,0% prices of crude oil and…
  11. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 11
    PKN ORLEN strengthens its position on the Polish fuel market Gasoline Diesel oil (tt) (tt) 7 000 1 000 7 000 1 200 6 000 900 6 000 1 000 800 5 000 700 5 000 800 4 000 600 4 000 500 600 3 000 3 000 400 400 2 000 300 2 000 200…
  12. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 12
    Substantial revenues in refining drive our business Refining and wholesales l Still growing market share driven by fight for a client in IFRS basis, mPLN 4Q02 4Q01 change Revenue 4,114 3,769 9.2% retail Total costs of the…
  13. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 13
    Monthly average fuel sales (gasoline, diesel, LPG) per station (FY02 vs. FY01) 400 326.2 -6.9% 303.8 300 171.9 000 l 200 154.1 +11.5% 100 0 2001 2002 PKN ORLEN Foreign multinationals 13
  14. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 14
    Increased revenue despite depresed market Retail l Sales volume decreased IFRS basis, mPLN 4Q02 4Q01 change less than the overall Polish Revenue 1 064 990 7,5% market Total costs 1 096 917 19,5% lVisible shift from gasoline to of…
  15. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 15
    Very good performance of the chemical segment Petrochemicals IFRS basis, mPLN 4Q02 4Q01 change lPoland is a net importer of Revenue 1 171 769 52,3% petrochemicals Total costs 1 114 823 35,4% lDespite the economic of the segment…
  16. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 16
    Delivering on promises Promise Performance 2003 guidance Sales increase total sale volumes 3% 1.4% -1% retail volumes 5% 4.9% 5% VITAY loyalty programme 3m by end of 2002 c. 3.4m 4.3m customers Margins gross retail margin Visible…
  17. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 17
    Delivering on promises Promise Performance 2003 guidance M&A Aggressive expansion Acquisition of 494 sites Consequent in Germany implementation Set up of the Completion of RG consortium to buy RG acquisition Organizational…
  18. PRELIMINARY 2002 RESULTS – PKN Orlen SA – slide 18
    Thank You 18

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