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CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA

PKN Orlen SA · Nov 13, 2007 · 20 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. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 1
    Consolidated financial results of PKN ORLEN Q32007 (IFRS) Piotr Kownacki, CEO Waldemar Maj, CFO November 13th 2007 1
  2. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 2
    Agenda Financial and operational results in Q307 Analysis of results in Q307 - segments Supporting slides 2
  3. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 3
    PKN ORLEN Group financial results stable on a Y/Y basis Excluding one-offs relating to modernisation costs and the Unipetrol write-off Key financial data in Q307(1) change change IFRS, in mln PLN Q3'06 Q2'07 Q3'07 q/q y/y [%] [%]…
  4. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 4
    Significant increase in refinery wholesale of 63% y/y from Mazeikiu Nafta contribution. Petrochemicals influenced by planned shut-downs and revamping. Key operating data in 3Q07 Q3'2006 Q3'2007 y/y [%] y/y [%] unconsolidated Group…
  5. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 5
    Macroeconomic environment Decrease in model refinery margin by 11.5% y/y and Ural/Brent differential by 24% y/y Model refinery margin PKN ORLEN Group 2,8 /b Exchange rates Decrease by 11.5% y/y from 3.1 /b in Q306 Strengthening PLN…
  6. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 6
    Agenda Financial and operational results in Q307 Analysis of results in Q307 - segments Supporting slides 6
  7. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 7
    Production facility modernisation in the Czech Republic and Lithuania Restructuring of the asset portfolio also affected PKN ORLENs Group financial results. Unipetrol MN impact change y/y change q/q IFRS, in mln PLN Q3'06 Q2'07 impact…
  8. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 8
    Increase in crude oil prices and Mazeikiu Nafta consolidation resulted in cost increasing q/q and y/y Unipetrol MN impact change y/y change q/q IFRS, in mln PLN Q3'06 Q2'07 impact Q3'07 Q3'07 [%] [%] Q3'07 1 2 3 4 5 6=5/1 7=5/2 Raw…
  9. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 9
    EBIT profit at PLN 834 mln in 3Q 2007 Dynamic increase in retail by 59% q/q and in petrochemicals by 33% y/y. Unipetrol MN effect IFRS, in mln PLN Q3'06 Q1207 Q3'07 y/y [%] q/q [%] efect Q3'07 Q3'07 1 2 3 4 5 6=5/1 7=5/2 EBIT , of…
  10. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 10
    Refining segment. EBIT lower by 49% y/y due to strong Polish zloty, unfavourable macro and planned turnarounds. 3Q06 3Q07 mln PLN Effect of lost margin and higher opex 1 400 35 32 due to planed S/D and modernisation of refinery…
  11. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 11
    Retail segment. EBIT increased by over 5% y/y Higher sales and increased non-fuel margins were the engine of growth. mln PLN 3Q06 3Q07 8 2 200 12 (10) 25 150 (29) 100 Sales volume increase across the region. Higher sales of…
  12. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 12
    Petrochemical segment EBIT increased by over 33% y/y. Efficient use of production capacity and favourable market conditions. mln PLN 3Q06 3Q07 6 47 350 11 300 68 (25) 250 (34) 200 150 Petrochemical crack spread Effect of…
  13. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 13
    Chemical segment. EBIT dropped by 2% y/y. Cost increases off-set by favourable fertilizer and PVC market 3Q06 3Q07 mln PLN Reference margin PVC in EUR/tonne1 70 60 6 600 +13,4 % 50 (3) (4) 40 400 30 57 56 589 520 20…
  14. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 14
    OPTIMA program results as of Q307. Cost-savings of PLN 122 m were realised an increase of 5% y/y. Realisation of work and results after Q3 2007 are in line with expectations mln, PLN 2 z Progress of work in 6 8 the majority of…
  15. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 15
    Agenda Financial and operation results in Q307 Analysis of results in Q307 - segments Supporting slides z Mazeikiu Nafta z Unipetrol z Orlen Deutschland z Crude oil processing and product yields in PKN ORLEN Group 15
  16. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 16
    Model refinery margin formula change in PKN ORLEN based on model basket of whole group product split. Comparison of model product basket in Plock refinery with product basket for whole PKN ORLEN group Group: 12,0 22,0 11,0 38,0 3,0…
  17. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 17
    Mazeikiu Nafta Group. Selected items from financial statements1 70 mln USD insurance improved EBIT in 3Q07. EBIT Q1-307 amounted to 58 mln USD IFRS, in mln USD Q3'2006 Q2'2007 Q3'2007 y/y [%] q/q [%] 1 2 3 4=3/1 5=3/2 Revenues 1 179…
  18. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 18
    Unipetrol Group. Selected items from financial statements1. Lower result due to planned shut-down and modernisation of production complex. IFRS, in mln CZK Q3'2006 Q2'2007 Q3'2007 r/r [%] q/q [%] 1 2 3 4=3/1 5=3/2 Revenues 26 958 24…
  19. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 19
    ORLEN Deutschland. Improvement in EBIT q/q. IFRS, in mln PLN Q3'2006 Q2'2007 Q3'2007 y/y [%] q/q [%] 1 2 3 4=3/1 5=3/2 Revenues 2 372 2 193 2 281 -3,8% 4,0% EBITDA 40 29 32 -19,3% 11,3% EBIT 23 11,0 15 -36,1% 34,8% Net result 24…
  20. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 20
    Key production data. Crude oil processed increased by 1.2% y/y despite MN and Unipetrol shut-downs Key production data 3Q'2006 2Q'2007 3Q'2007 y/y [%] q/q [%] 1 2 3 4=3/1 5=3/2 Refinery in Poland 1 Processed crude (th. tonnes) 3 524…

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