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INVESTOR PRESENTATION – PKN Orlen SA

PKN Orlen SA · Aug 31, 2010 · 33 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. INVESTOR PRESENTATION – PKN Orlen SA – slide 1
    Improvement of macroeconomic environment and PKN ORLEN operating results PKN ORLEN consolidated financial results for 2 quarter 2010 Jacek Krawiec, CEO Sawomir Jdrzejczyk, CFO 31 August 2010 1
  2. INVESTOR PRESENTATION – PKN Orlen SA – slide 2
    Agenda Achievements in 2q 2010 Macroeconomic situation Financial and operating results in 2q 2010 Liquidity Summary 2
  3. INVESTOR PRESENTATION – PKN Orlen SA – slide 3
    PKN ORLEN achievements in 2q 2010 Significant increase of financial results: PLN 1,1 bn of operating profit PLN 0,7 bn of operating profit acc. to LIFO Improvement of macro situation: increase of refining margin and Ural/Brent…
  4. INVESTOR PRESENTATION – PKN Orlen SA – slide 4
    Agenda Achievements in 2q 2010 Macroeconomic situation Financial and operating results in 2q 2010 Liquidity Summary 4
  5. INVESTOR PRESENTATION – PKN Orlen SA – slide 5
    Improvement of macroeconomic factors in 2q 2010 Increase of crude oil price Increase of refining margin and U/B differential Average Brent Crude Oil price (USD/bbl) Model refining margin1, Ural/Brent differential2 (USD/bbl) 19 USD/bbl…
  6. INVESTOR PRESENTATION – PKN Orlen SA – slide 6
    Increase of diesel consumption due to GDP growths GDP increase Fuel consumption Change (%) to respective quarter of last year* mt Diesel Gasoline +2% 3,3 3,0 3,5 2,68 2,73 1,1 1,8 -7% 1,13 1,05 Poland 3,7 2,0 +2% 7,73 7,88…
  7. INVESTOR PRESENTATION – PKN Orlen SA – slide 7
    Agenda Achievements in 2q 2010 Macroeconomic situation Financial and operating results in 2q 2010 Liquidity Summary 7
  8. INVESTOR PRESENTATION – PKN Orlen SA – slide 8
    Significant improvement of financial and operating data 1q10 2q10 2q09 Change y/y 21 068 17 442 16 770 Increase of revenues by 26% 26% Revenues (y/y). PLN m Improvement of operating 1 123 result by PLN 0,5 bn (y/y) EBIT 661…
  9. INVESTOR PRESENTATION – PKN Orlen SA – slide 9
    The best operating result acc. to LIFO from the beginning of 2009 change change 1q'10 2q'10 2q'09 PLN, m 1-2q'10 1-2q'09 y/y y/y 17 442 21 068 16 770 26% Revenues 38 510 31 472 22% 1 1 065 1 735 1 317 32% EBITDA 2 800 1 648 70%…
  10. INVESTOR PRESENTATION – PKN Orlen SA – slide 10
    Good results achieved in all segments of operations change change 1q'10 2q'10 2q'09 PLN, m 1-2q'10 1-2q'09 y/y y/y 464 1 123 661 70% EBIT, including the following segments: 1 587 340 367% 49 682 -267 - EBIT acc. to LIFO 731 -342…
  11. INVESTOR PRESENTATION – PKN Orlen SA – slide 11
    Significant increase of sales volumes change change 1q'10 2q'10 2q'09 th t 1-2q'10 1-2q'09 y/y y/y Sales volumes, 7 517 8 545 8 139 5% 16 061 16 354 -2% including the following: 4 737 5 683 5 249 8% Refining 10 420 10 736 -3% 1…
  12. INVESTOR PRESENTATION – PKN Orlen SA – slide 12
    Increase of utilization and better fuel yield Crude oil throughput (m t) Utilization (%) 2kw'09 3kw'09 4kw'09 1kw'10 2kw'10 7,3 6,6 6,6 6,9 110% 101% 6,2 101% 22 p.p. 10 p.p. 90% 90% 79% 69% 68% 70% 50% 2q09 3q09 4q09…
  13. INVESTOR PRESENTATION – PKN Orlen SA – slide 13
    Agenda Achievements in 2q 2010 Macroeconomic situation Financial and operating results in 2q 2010 Liquidity Summary 13
  14. INVESTOR PRESENTATION – PKN Orlen SA – slide 14
    Debt below PLN 10 bn despite strong weakening of PLN exchange rate Safe financial situation Net debt (in PLN, bn) Further reduction of debt by PLN 0,5 bn (q/q) to the 13,8 13,3 level of PLN 9,8 bn despite weakening of PLN exchange…
  15. INVESTOR PRESENTATION – PKN Orlen SA – slide 15
    Consistent debt and financial gearing reduction change change 1q'10 2q'10 2q'09 PLN, m 1-2q'10 1-2q'09 y/y y/y 416 2 468 1 921 547 Cash Flow from operations 2 884 3 072 -188 1 -595 1 259 872 387 including: working capital change…
  16. INVESTOR PRESENTATION – PKN Orlen SA – slide 16
    Continuation of initiatives decreasing working capital Change in working capital Change in cash flow from investments PLN, bn PLN, bn 1,0 0,0 2,9 (0,3) 2,2 Extension of payment 0,8 1,8 0,0 0,0 for crude oil 1,2 1,2 Investment…
  17. INVESTOR PRESENTATION – PKN Orlen SA – slide 17
    Agenda Achievements in 2q 2010 Macroeconomic situation Financial and operating results in 2q 2010 Liquidity Summary 17
  18. INVESTOR PRESENTATION – PKN Orlen SA – slide 18
    Consistent realization of actions increasing PKN ORLEN value Subsidiaries Further reduction of debt Development investments Orlen Lietuva Obligatory inventories Installations Positive result acc. to LIFO. Draft of new Act on the…
  19. INVESTOR PRESENTATION – PKN Orlen SA – slide 19
    Summary Significant improvement of results PLN 0,7 bn the best operating result acc. to LIFO from the beginning of 2009. PLN 1,1 bn of operating profit improvement by PLN 0,5 bn. Increase of sales volumes by 5% and improvement of…
  20. INVESTOR PRESENTATION – PKN Orlen SA – slide 20
    Thank You for Your attention For more information on PKN ORLEN, please contact Investor Relations Department: telephone: + 48 24 365 33 90 fax + 48 24 365 56 88 e-mail: irorlen.pl www.orlen.pl 20
  21. INVESTOR PRESENTATION – PKN Orlen SA – slide 21
    Agenda Achievements in 2q 2010 Macroeconomic situation Financial and operating results in 2q 2010 Liquidity Summary Supporting slides 21
  22. INVESTOR PRESENTATION – PKN Orlen SA – slide 22
    Improvement of operating result due to favourable macro and growing sales volumes. EBIT change PLN m PLN + 462 m 1200 102 1123 51 2 1000 794 800 661 600 400 200 (487) 0 EBIT 2q'09 Inventory Macro Volumes Optimisation Other…
  23. INVESTOR PRESENTATION – PKN Orlen SA – slide 23
    Refining segment. Macro environment and refineries efficiency improvement EBIT change PLN + 213 m PLN m 1200 34 983 1000 52 46 519 800 770 600 400 200 (438) 0 EBIT 2q'09 Inventory Macro Volumes Optimisation Other EBIT…
  24. INVESTOR PRESENTATION – PKN Orlen SA – slide 24
    Retail segment. Sales volumes increase limited by lower fuel margins EBIT change PLN - 7 m PLN m 250 223 216 230 24 210 1 21 2 190 170 150 130 (55) 110 90 70 50 EBIT 2q'09 Fuel margins Volumes Non-fuel sales Optimisation Other…
  25. INVESTOR PRESENTATION – PKN Orlen SA – slide 25
    Petrochemical segment. Olefins and polyolefins sales growth offsets PVC and fertilisers sales drop EBIT change PLN m PLN + 294 m 200 150 102 122 100 50 275 0 (22) (12) -50 -100 -150 -200 (172) -250 (49) EBIT 2q'09 Inventory…
  26. INVESTOR PRESENTATION – PKN Orlen SA – slide 26
    PKN ORLEN Group results breakdown by key companies in 2q 2010 Others & PKN ORLEN PKN ORLEN PKN ORLEN 4 ORLEN IFRS PLN m Unipetrol 4 consolidation Group Group (unconsolidated) Lietuva excludings 2q'10 2q'09 Revenues 15 248 3 699 4…
  27. INVESTOR PRESENTATION – PKN Orlen SA – slide 27
    PKN ORLEN Group EBIT by segments in 2q 2010 ORLEN Others & PKN ORLEN PKN ORLEN PKN ORLEN 4 IFRS, PLN m Unipetrol 4 consolidation Group Group (unconsolidated) Lietuva excludings 2q'10 2q'09 EBIT 843 102 -13 191 1 123 661 EBIT acc.…
  28. INVESTOR PRESENTATION – PKN Orlen SA – slide 28
    ORLEN Lietuva Group Key elements of the profit and loss account1 change change 1q'10 2q'10 2q'09 IFRS, USD m 1-2q'10 1-2q'09 y/y y/y 1 073 1 429 1 003 42% Revenues 2 501 1 853 35% 8 41 66 -38% EBITDA 49 83 -41% -14 18 46 -61%…
  29. INVESTOR PRESENTATION – PKN Orlen SA – slide 29
    UNIPETROL Group Key elements of the profit and loss account1 change change 1q'10 2q'10 2q'09 IFRS, CZK m 1-2q'10 1-2q'09 y/y y/y 18 039 23 409 15 795 48% Revenues 41 448 30 308 37% 1 352 1 669 584 186% EBITDA 3 021 1 293 134%…
  30. INVESTOR PRESENTATION – PKN Orlen SA – slide 30
    Key production data change change Key production data 1q'10 2q'10 2q'09 y/y q/q Refinery in Poland 1 Processed crude (tt) 3 495 3 506 3 586 -2% 0% Utilisation 101% 101% 100% 1 pp 0 pp Fuel yield 4 59% 68% 67% 1 pp 9 pp 5 Middle…
  31. INVESTOR PRESENTATION – PKN Orlen SA – slide 31
    Variable macro in 3q 2010 Crude oil price stabilization Refining margin and U/B diff decrease Average Brent Crude Oil price (USD/bbl) Model refining margin1, Ural/Brent differential2 (USD/bbl) -1 USD/bbl 6,5 -2,3 USD/bbl 76 78 77 5,5…
  32. INVESTOR PRESENTATION – PKN Orlen SA – slide 32
    Macroeconomic environment in 3q 2010 12 PKN ORLEN Group model refining margin 2009 2009 rednia 2009 Average 2010 2010 rednia 2010 Average 9 6 a 4,0 USD/bbl* 3,8 USD/bbl 3 0 January February March April May June July August…
  33. INVESTOR PRESENTATION – PKN Orlen SA – slide 33
    For more information on PKN ORLEN, please contact Investor Relations Department: telephone: + 48 24 365 33 90 fax + 48 24 365 56 88 e-mail: irorlen.pl www.orlen.pl 34

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