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CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream

Orlen Upstream · Aug 11, 2006 · 24 slides

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Slides

  1. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 1
    PSGJAN05EPK2_OVERVIEW(01).PPT Consolidated financial results of PKN ORLEN Q22006 (IFRS) Igor Chalupec, CEO Pawe Szymanski, CFO August 11th 2006 1
  2. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 2
    Agenda Financial results in Q206 Analysis of results in Q206 segments Supporting slides 2
  3. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 3
    Grow in sales, favorable macroeconomic conditions and increased Unipetrol profit caused EBITDA improvement and net profit y/y and q/q (without negative goodwill)* Key financial data m PLN Q2'2005 Q1'2006 Q2'2006 y/y [%] q/q [%] 1 2 3…
  4. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 4
    Significant increase of fuels and petrochemical products volume sales as a positive effects of PKN ORLEN pro-sales activities Key operating data 2Q'2005 2Q'2006 y/y [%] y/y [%] PKN ORLEN PKN ORLEN PKN ORLEN mother PKN ORLEN mother…
  5. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 5
    Dynamic increase of EBITDA in comparable market conditions confirms efficiency of PKN ORLEN activities* EBITDA (PLN m) ROACE (%) (comparable market conditions)1 (comparable market conditions)1 20,0 15,0 +110,9 % 1 000 +6,4…
  6. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 6
    Agenda Financial results in Q2 06 Analysis of results in Q2 06 - segments Supporting slides 6
  7. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 7
    External environment in 2Q 2006 Refiningpetrochemical sector conditions improvement Average exchange rates1 Refining margin 5.65/b average in 2Q 20063 Increase by 1.3% y/y PLN/USD 2Q' 2006 PLN/EUR 2Q' 2006 2Q' 2006 2Q' 2005 PLN/USD…
  8. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 8
    Simplified P&L account Increase of clear operating profit y/y by 66.4% Unipetrol effect IFRS in m PLN 2Q'2005 1Q'2006 2Q'2006 y/y [%] q/q [%] 2Q'2006 1 2 3 4 5=4/1 6=4/2 Revenues 9 955 11 331 3 362 13 545 36.1% 19.5% Operating…
  9. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 9
    Costs by kind Costs discipline consequently maintained Unipetrol effect IFRS, in m PLN 2Q 2005 1Q 2006 2Q 2006 y/y [%] q/q [%] 2Q 2006 1 2 3 4 5=4/1 5=4/2 Raw m aterials and energy 4 528 6 397 2 341 7 629 68% 19% Costs of goods for…
  10. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 10
    Increase of operating profit y/y and q/q as a result of accepted strategy and improvment of Unipetrol performace (excluding negative goodwill) Unipetrol IFRS, in m PLN 2Q 2005 1Q 2006 effect 2Q 2006 y/y [%] q/q [%] 2Q 2006 1 2 3 4…
  11. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 11
    Net profit increase excluding negative goodwill and one-off financial revenues effect Q205 Q206 m PLN 65 1 200 8 31 1 894 29 35 1 000 479 77 283 800 5 600 In Q22005 there was recorded financial income due 929 881 400…
  12. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 12
    m PLN 0 200 400 600 800 1000 1200 Segments results 2Q'05 Q205 626 848 Refinery Ural/Brent differential 127 Fuel cracks 98 Unipetrol 51 Negative goodwill (one-off effect) OPTIMA 26…
  13. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 13
    Retail Group volume sales increase by over 16%. m PLN Q205 Q206 120 3 1 8 100 152 23 80 14 4 60 40 Includes: dealer provisions, secondary 76 61 logistics cost, marketing costs 20 Negative goodwill (one-off…
  14. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 14
    Petrochemical Positive Unipetrol contribution m PLN Q205 Q206 127 20 500 4 11 893 18 400 149 45 55 Margin decrease of e.g. acetone, 300 benzene, butadiene, phenol, glycols and ethylene oxide 98 200 30 Includes higher…
  15. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 15
    Chemical 2Q05 2Q06 m PLN Chemical segment 60 31 zIncrease of volume sales in 2Q2006 by 1 44.6% y/y e.g. due to Unipetrol consolidation 50 effect 124 40 zSignificant Anwil results improvement caused by increase of sales of…
  16. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 16
    Results of OPTIMA Program after 2Q06 Savings realisation at the level of almost PLN 100 m In m PLN Program realisation and results after 2Q 06 are in line with the expectations 25,7 Progress at majority of segments is at the 46…
  17. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 17
    Agenda Financial results in Q206 Analysis of results in Q206 - segments Supporting slides z Petrochemical market environment summary z Unipetrol z OPTIMA the streams of cost reduction according to the plan expectations…
  18. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 18
    Petrochemical market from January 1st, 2005 to August 4th, 2006 Ethylene Propylene 1000 900 900 In EUR/tone 800 In EUR/tone 800 700 700 600 600 500 500 383 413 398 398 393 400 353 346 400 386 338 338 293 323 300 300 211…
  19. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 19
    Unipetrol Group Selected financial data for 2Q06 vs. 2Q05 (1/2) Preliminary financial results of main subsidiaries of Unipetrol a.s. In m CZK 2Q' 05 IFRS 1Q' 06 IFRS* 2Q' 06 IFRS y/y[%] q/q [%] Comments Ethylene production met market…
  20. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 20
    Unipetrol Group Selected financial data for 2Q06 vs. 2Q05 (2/2) Preliminary financial results of main subsidiaries of Unipetrol a.s. In m CZK 2Q'05 IFRS 1Q'06 IFRS* 2Q'06 IFRS y/y [%] q/q [%] Comments Higher revenues y/y and q/q…
  21. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 21
    Unipetrol Group Financial and operational results for 2Q 06 Preliminary consolidated financial highlights of Unipetrol for 2Q06 IFRS , in m C Z K 2 Q '0 5 1 Q '0 6 * 2Q '0 6 y / y [%] q / q [%] 1 2 3 4 =3 /1 4 =3 /2 Eq u ity 37 290…
  22. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 22
    Unipetrol Group Selected financial data in 2005-2006 Selected operational highlights from 1Q05 to 2Q06 Operating data* 2004 1Q' 05 2Q' 05 3Q' 05 4Q' 05 2005 1Q' 06 2Q' 06 y/y [%] q/q [%] Total sales, of which 4692 1 118 1 326 1 400 1…
  23. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 23
    Results of OPTIMA Program Q206 In particular streams In m PLN Program realization and results after 2Q06 are in line with the expectations 20,4 11,6 4,4 22,8 98,1 23,3 15,6 Procurement Support Retail Production Logistics…
  24. CONSOLIDATED FINANCIAL RESULTS OF PKN ORLEN Q22006 (IFRS) – Orlen Upstream – slide 24
    ORLEN Deutschland Selected financial data for 2Q06 vs 2Q05 IFRS, in m PLN 2Q'05 1Q'06 2Q'06 y/y [%] q/q [%] 1 2 3 4=3/1 5=3/2 Assets 1 476 1 445 1 509 2.2% 4.4% Equity 465 327 350 -24.7% 7.0% IFRS, in m PLN 2Q'06 y/y [%] q/q [%]…

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