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INVESTOR PRESENTATION – PKN Orlen SA

PKN Orlen SA · Sep 25, 2005 · 24 slides

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Slides

  1. INVESTOR PRESENTATION – PKN Orlen SA – slide 1
    Consolidated financial results of PKN ORLEN S.A. Effect of Unipetrol consolidation Q22005 (IFRS)1 Pawe Szymaski, CFO September 29th 2005 1) Consolidation of Unipetrol results for operating period as of June. Purchase of Unipetrol was…
  2. INVESTOR PRESENTATION – PKN Orlen SA – slide 2
    Agenda Transaction summary of Unipetrol Summary of financial results and macroeconomic environment Financial results Q205 Supporting slides 2
  3. INVESTOR PRESENTATION – PKN Orlen SA – slide 3
    Unipetrol transaction1 presented in the condensed consolidated financial statement of PKN ORLEN for Q205, September 29th, 2005. August 16th, 2005 condensed September 29, 2005 consolidated financial statement of PKN ORLEN…
  4. INVESTOR PRESENTATION – PKN Orlen SA – slide 4
    Unipetrol transaction1 presented in the condensed consolidated financial statement of PKN ORLEN for Q205, September 29th, 2005. Preliminary results of the acquisition of 62.99% of Unipetrol, reflected in PKN ORLEN financials after…
  5. INVESTOR PRESENTATION – PKN Orlen SA – slide 5
    Agenda Transaction summary of Unipetrol Summary of financial results and macroeconomic environment Financial results Q205 Supporting slides 5
  6. INVESTOR PRESENTATION – PKN Orlen SA – slide 6
    Financial results Q22005 PKN ORLEN Group Key financial data Q22005 Key operating data Q22005 z ROACE1,2 50.7% ROACE2 (exl. negative goodwill) 13.2% z Wholesale volume sales4 + 22.9% Q205/Q204 z EBITDA2 3 038 mln PLN EBITDA2 (exl.…
  7. INVESTOR PRESENTATION – PKN Orlen SA – slide 7
    Macroeconomic environment April 01, up to September 23, 2005 Exchange rate average1 Refinery margin 5.6/b average 01.04.05 23.09.05 Decrease of 3% y-o-y 5,0 PLN/USD PLN/EUR 16 Q2'05 2 2 PLN/USD 2005 E PLN/EUR 2005 E Q2'04 14 2005…
  8. INVESTOR PRESENTATION – PKN Orlen SA – slide 8
    EBITDA and ROACE Q205 vs. Q2041,2 Visible one-off effect due to negative goodwill EBITDA (m PLN) ROACE (%) (in comparable market enviroment)1 (in comparable market enviroment)1 3 038 50,1 3000,0 50,0 2500,0 Negative 40,0…
  9. INVESTOR PRESENTATION – PKN Orlen SA – slide 9
    Agenda Transaction summary of Unipetrol Summary of financial results and macroeconomic environment Financial results Q205 Supporting slides 9
  10. INVESTOR PRESENTATION – PKN Orlen SA – slide 10
    Revenues by segment Doubling of petrochemical revenues due to Unipetrol consolidation Q2'05 exl. VI.'05 IFRS basis, PLN m Q2' 04 Q2'05 y/y Comment Unipetrol Unipetrol 1 Revenue total 7 473 8 400 1 607 9 955 33% of which zExcluding…
  11. INVESTOR PRESENTATION – PKN Orlen SA – slide 11
    Expenses Operating costs grew by less than revenues Q2'05 exl. VI'05 IFRS basis, PLN m Q2'04 Q2'05 y/y Comment Unipetrol Unipetrol Raw m aterials and energy 2 967 3 600 980 4 528 52,6% z Increase of raw materials and energy Costs of…
  12. INVESTOR PRESENTATION – PKN Orlen SA – slide 12
    Operating profit by segment Visible improvement in results across all core business segments Q2'05 e xcl. V I'05 IFRS basis, PLN m Q2'04 Unipe trol Unipe trol Q2'05 Comment Operating profit 587 640 64 2 709 zThe operating profit…
  13. INVESTOR PRESENTATION – PKN Orlen SA – slide 13
    Profit and loss account Effect of Unipetrol consolidation as of VI05 Q2'05 excl. VI'05 IFRS, PLN m Q2'04 Unipetrol Unipetrol 1 Q2'05 y/y Comment Revenues 7 473 8 400 1 607 9 955 33,2% z Contribution of June Cost of sales -5 940 -6…
  14. INVESTOR PRESENTATION – PKN Orlen SA – slide 14
    Operating profit increase1) strongly affected by one-off items 2Q04 2Q05 In m PLN 2 500 Financial income due to discount on receivables of Unipetrol companies Negative goodwill 2 000 Of which mainly dividend 2 005 from…
  15. INVESTOR PRESENTATION – PKN Orlen SA – slide 15
    Refining segment1) Increase in operating efficiency and exploitation of favourable macroeconomic conditions In m PLN Q205 Q204 1400 1200 58 35 20 663 1000 (6) 50 (9) 180 (45) 800 1 491 Result of light product sales…
  16. INVESTOR PRESENTATION – PKN Orlen SA – slide 16
    Retail segment Improvement due to efficiency programme and lower provisions In m PLN 2Q04 2Q05 Focus on margin 230 maximization Main reason for last years loss was due to Orlen Deutschlands Negative goodwill net asset…
  17. INVESTOR PRESENTATION – PKN Orlen SA – slide 17
    Petrochemical segment Profit increase despite planned stoppage of olefin unit (modernization) 2Q04 2Q05 In m PLN 1200 Negative goodwill Favourable environment. Higher cracks on main 1000 petrochemical products Mainly due to…
  18. INVESTOR PRESENTATION – PKN Orlen SA – slide 18
    Contact For more information please contact our IR Office: Press Office: phone: + 48 24 365 33 90 phone: + 48 24 365 41 50 fax: + 48 24 365 56 88 + 48 22 695 34 57 e-mail: irORLEN.pl fax: + 48 22 695 35 27 e-mail: mediaORLEN.pl…
  19. INVESTOR PRESENTATION – PKN Orlen SA – slide 19
    Agenda Transaction summary of Unipetrol Summary of financial results and macroeconomic environment Financial results Q205 Supporting slides z Capex in Q22005 z Selected financial data of Unipetrol Group z Polyolefin…
  20. INVESTOR PRESENTATION – PKN Orlen SA – slide 20
    Investments in 2Q05 Focus on petrochemical activity Capex in 2Q2005 and Unipetrol investment as of June 2005 In m PLN 11 300 Q204 Q205 250 VI05 , Unipetrol 200 3 150 259 272 100 4 5 126 50 93 73 48 50 27…
  21. INVESTOR PRESENTATION – PKN Orlen SA – slide 21
    Selected financial data of Unipetrol Group Consolidated financial results 2003-2005 (IFRS)1 Selected financial data; I-VI03 VI-XII03 2003 I-VI04 VI-XII2004 2004 I-VI05 in th. CZK Total assets 69 025 339 70 518 835 70 518 835 71 534…
  22. INVESTOR PRESENTATION – PKN Orlen SA – slide 22
    Summary subsidiary results of Unipetrol Group Financial data from the period of 2003-2005* In th. CZK I-VI03 VI-XII03 2003 I-VI04 VI-XII2004 2004 I-VI05 Chemopetrol a.s. Revenues 10 257 465 8 113 334 18 370 799 12 537 040 14 934 326…
  23. INVESTOR PRESENTATION – PKN Orlen SA – slide 23
    Polyolefin production development in BOP Utilization of growing market demand by PKN ORLEN Group Capacity (tonnes per year) New installation start-up process Activity To date after launch of new installations In September…
  24. INVESTOR PRESENTATION – PKN Orlen SA – slide 24
    Petrochemical market From April 1st 2004 to September 23rd 2005 Ethylene; in EUR/ton Propylene ; in EUR/ton 800 800 700 700 600 600 500 500 400 362 400 310 307 300 262 300 254 273 257 230 172 180 193 191 200 122 200 122…

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