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2Q 2003 RESULTS – PKN Orlen SA

PKN Orlen SA · Aug 13, 2003 · 16 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. 2Q 2003 RESULTS – PKN Orlen SA – slide 1
    2Q 2003 results Significant improvement in efficiency August 2003
  2. 2Q 2003 RESULTS – PKN Orlen SA – slide 2
    Market environment - Oil & Gas Satisfactory margin levels Crude oil price, Brent (USD/bbl) 30 2002 2003 28 l Decrease in crude demand in OECD countries of 0.6 mb/d (y-o-y) 26 3,8% l Increase in crude oil (Brent) prices of 3.8%…
  3. 2Q 2003 RESULTS – PKN Orlen SA – slide 3
    Market environment Poland Economic recovery on track Real GDP growth 3.2E% l GDP growth shows big improvement 4% Estimates for FY03: 3.0- 3.5% confirming recovery of the economy. 3% However, it is not fully reflected in…
  4. 2Q 2003 RESULTS – PKN Orlen SA – slide 4
    Financial highlights significant improvements in efficiency y-o-y as well as q-o-q IFRS basis, million PLN 2Q 03 2Q 02 change Revenue 5 933 3 932 50,9% l Surge in revenues due to EBIT 175 206 -15,0% consolidation of German…
  5. 2Q 2003 RESULTS – PKN Orlen SA – slide 5
    Operating highlights wholesale market share in fuels re-gained l Increase in consolidated retail IFRS basis, million PLN 2Q 03 2Q 02 change sales due to consolidation of Retail sales of 969 545 77,8% German retail network motor…
  6. 2Q 2003 RESULTS – PKN Orlen SA – slide 6
    Profit / Cash flow operating activities supported by disposal of non-core assets l German activities supported IFRS basis, million PLN 2Q 03 2Q 02 change revenues by almost PLN 1.8bn Revenue 5 933 3 932 50,9% * Cost of sales -4 931 -3…
  7. 2Q 2003 RESULTS – PKN Orlen SA – slide 7
    Balance sheet visible decrease in debt IFRS basis, million PLN 2Q 03 1Q 03 change l Decreasing crude oil prices are Non-current assets 10 323 10 607 -2,7% reflected in lower value of Current assets of which 6 430 6 717 -4,3%…
  8. 2Q 2003 RESULTS – PKN Orlen SA – slide 8
    PKN ORLEN maintains its position on the Polish fuel market Gasoline Diesel (tt) (tt) 1 400 1 400 1 200 1 200 1 000 59.1 % 58.9 % 1 000 65 % 66 % 58.3 % 800 800 64% 600 600 400 400 200 200 0 II Q 2001 II Q 2002 II Q…
  9. 2Q 2003 RESULTS – PKN Orlen SA – slide 9
    Visible increase in efficiency supported by gain in market share after 1Q03 disruption Refining and wholesales lSignificant shift between IFRS basis, mPLN 2Q03 2Q02 change Gasoline and Diesel sales Revenue 3 457 3 363 2,8% l Stable…
  10. 2Q 2003 RESULTS – PKN Orlen SA – slide 10
    Optimisation of sales through CODO sites and authorised representatives of LHO Fuel sales structure 100% 21 19 19 18 l Increased share of company- 34 80% 38 owned stations in the structure of 23 21 domestic clients in order to 60%…
  11. 2Q 2003 RESULTS – PKN Orlen SA – slide 11
    Optimisation of the margin reflected in better financial results Retail l First signs of recovery visible in IFRS basis, mPLN 2Q03 2Q02 change domestic volumes* - 2.5% increase, Revenue 2 984 985 202,9% y-o-y Total costs l Next…
  12. 2Q 2003 RESULTS – PKN Orlen SA – slide 12
    Next consecutive quarter of robust profitability of Pet-chems Petrochemicals IFRS basis, mPLN 2Q03 2Q02 change l Increase in monomers as well Revenue 1 039 921 12,8% as fertilisers (prolonged Total costs agricultural works) volume…
  13. 2Q 2003 RESULTS – PKN Orlen SA – slide 13
    Outlook for 2H03 Retail few percent increase in volumes with a slight decrease in unit margins on fuels, q-o-q (however big improvement y-o-y), but still visible increase in margin of non-fuel products. Volumes in Gasoline c. 4% down…
  14. 2Q 2003 RESULTS – PKN Orlen SA – slide 14
    Supplementary slides 14
  15. 2Q 2003 RESULTS – PKN Orlen SA – slide 15
    Purchase of the Germans sites proves to be an effective business Strict cost management and higher margins (7% up, q-o-q) result in good performance of German activities, which recorded over PLN 11m of net profit The trend was…
  16. 2Q 2003 RESULTS – PKN Orlen SA – slide 16
    2Q2003 - influence of ORLEN Deutschland and JV with Basell on consolidated Balance Sheet and P&L 2Q2003 of which Germany Balance sheet - selected items (PLNm) 2Q2003 1Q2003 and Basell (*) Property, plant and equipment 9 449 597 9…

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