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INVESTOR PRESENTATION – PKN Orlen SA

PKN Orlen SA · May 13, 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
    Good results. Stable financial position. PKN ORLEN consolidated financial results for 1 quarter 2010 Jacek Krawiec, CEO Sawomir Jdrzejczyk, CFO 13 May 2010 1
  2. INVESTOR PRESENTATION – PKN Orlen SA – slide 2
    Agenda Achievements in 1q 2010 Macroeconomic situation Financial and operating results in 1q 2010 Liquidity situation Summary 2
  3. INVESTOR PRESENTATION – PKN Orlen SA – slide 3
    Good results limited by negative impact of seasonality Good financial results: PLN 0,6 bn of net profit (result improvement by over PLN 1,7 bn) and PLN 0,5 bn of operating profit (improvement by PLN 0,8 bn). Macroenviroment still…
  4. INVESTOR PRESENTATION – PKN Orlen SA – slide 4
    Agenda Achievements in 1q 2010 Macroeconomic situation Financial and operating results in 1q 2010 Liquidity situation Summary 4
  5. INVESTOR PRESENTATION – PKN Orlen SA – slide 5
    Volatile macro environment comparing to 1q 2009 Crude oil price increase affects positively on Decrease in overall refining margin and U/B diff inventory revaluation Average Brent Crude Oil price (USD/bbl) Model refining margin1,…
  6. INVESTOR PRESENTATION – PKN Orlen SA – slide 6
    Fuel consumption still does not match GDP growth GDP increase Fuel consumption Change (%) to respective quarter of last year* mt 1q 2q 3q 4q 1q 1q 1q 2009 2010 2009 2010 -1% 3,75 3,71 3,1 3,5 Poland 1,7 0,8 1,1 +1% 0,3…
  7. INVESTOR PRESENTATION – PKN Orlen SA – slide 7
    Further improvement in macro expected in 2q 2010 Further crude oil price increase will support Significant improvement in refining margin and U/B diff PKN ORLEN results Average Brent Crude Oil price (USD/bbl) Model refining margin1,…
  8. INVESTOR PRESENTATION – PKN Orlen SA – slide 8
    Agenda Achievements in 1q 2010 Macroeconomic situation Financial and operating results in 1q 2010 Liquidity situation Summary 8
  9. INVESTOR PRESENTATION – PKN Orlen SA – slide 9
    Over PLN 600 m of net profit achieved in 1q 2010 1q09 4q09 1q10 change y/y 17 807 17 442 Increase of revenues by 19% (y/y) 14 702 Revenues 19% due to the growth of crude oil PLN m prices. Improvement of reported EBIT by 334…
  10. INVESTOR PRESENTATION – PKN Orlen SA – slide 10
    Over PLN 400 m of operating profit change change 4q'09 1q'10 1q'09 PLN, m 3M'10 3M'09 y/y y/y 17 807 17 442 14 702 19% Revenues 17 442 14 702 19% 1 967 1 065 331 222% EBITDA 1 065 331 222% 334 464 -320 - EBIT 464 -320 - -163…
  11. INVESTOR PRESENTATION – PKN Orlen SA – slide 11
    Improvement of operating result thanks to increase in petrochemical segment result, growing crude oil prices and costs optimization change change 4q'09 1q'10 1q'09 PLN, m 3M'10 3M'09 y/y y/y 334 464 -320 - EBIT, including the…
  12. INVESTOR PRESENTATION – PKN Orlen SA – slide 12
    Increase of retail segment sales volumes change change 4q'09 1q'10 1q'09 th t 3M'10 3M'09 y/y y/y Sales volumes, 8 432 7 517 8 215 -8% 7 517 8 215 -8% including the following: 5 471 4 737 5 488 -14% Refining 4 737 5 488 -14% 1…
  13. INVESTOR PRESENTATION – PKN Orlen SA – slide 13
    Improvement of operating result thanks to growing crude oil prices, increase of petrochemical results and efficiency improvement programmes EBIT change PLN, m PLN + 784 m 600 500 163 464 400 661 82 300 200 (57) 100 (65) 0 -100…
  14. INVESTOR PRESENTATION – PKN Orlen SA – slide 14
    Agenda Achievements in 1q 2010 Macroeconomic situation Financial and operating results in 1q 2010 Liquidity situation Summary 14
  15. INVESTOR PRESENTATION – PKN Orlen SA – slide 15
    Safe level of net debt at PLN 10,3 bn Safe financial situation Net debt (PLN, m) Maintaining of debt at the level of PLN 10,3 bn. 14,3 13,8 13,3 Almost 70% of debt will be declared due and payable starting from 2012. 10,3 10,3…
  16. INVESTOR PRESENTATION – PKN Orlen SA – slide 16
    Consistent debt and financial gearing reduction change change 4q'09 1q'10 1q'09 PLN, m 3M'10 3M'09 y/y y/y 2 916 416 1 151 -735 Cash Flow from operations 416 1 151 -735 1 2 515 -595 609 -1 204 including: working capital change…
  17. INVESTOR PRESENTATION – PKN Orlen SA – slide 17
    Improvement of working capital by PLN 2,2 bn Change in working capital Change in cash flow from investments PLN, bn PLN, bn 2,4 0,8 0,0 2,2 Extension of 0,8 payment for 1,8 0,1 0,0 crude oil 1,2 (1,0) 1,1 0,8 Investment…
  18. INVESTOR PRESENTATION – PKN Orlen SA – slide 18
    Change in the formula of keeping of obligatory reserves improves balance sheet and decreases PKN ORLEN operating risk In the frames of existing regulations PKN ORLEN decided to optimize the formula of keeping of obligatory…
  19. INVESTOR PRESENTATION – PKN Orlen SA – slide 19
    Agenda Achievements in 1q 2010 Macroeconomic situation Financial and operating results in 1q 2010 Liquidity situation Summary 19
  20. INVESTOR PRESENTATION – PKN Orlen SA – slide 20
    Consistent realization of actions increasing PKN ORLEN value Subsidiaries Further reduction of debt Development investments Orlen Lietuva Obligatory inventories Installations reduction of fixed costs and resale of the first part of…
  21. INVESTOR PRESENTATION – PKN Orlen SA – slide 21
    Summary Good financial and operating results: PLN 0,6 bn of net profit (improvement of result by over PLN 1,7 bn) and PLN 0,5 bn of operating profit (improvement by PLN 0,8 bn). Increase of retail sales volumes by 4% at the…
  22. INVESTOR PRESENTATION – PKN Orlen SA – slide 22
    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 22
  23. INVESTOR PRESENTATION – PKN Orlen SA – slide 23
    Agenda Achievements in 1q 2010 Macroeconomic situation Financial and operating results in 1q 2010 Liquidity situation Summary Supporting slides 23
  24. INVESTOR PRESENTATION – PKN Orlen SA – slide 24
    Refining segment. Segment results under influence of macro environment PLN m EBIT change PLN + 542 m 600 668 500 86 426 400 72 300 (185) 200 (99) 100 0 -100 -200 (116) EBIT 1q'09 Inventory Macro Volumes Optimisation…
  25. INVESTOR PRESENTATION – PKN Orlen SA – slide 25
    Retail segment. Sales volumes increase limited by low fuel margins EBIT change PLN (-) 12 m PLN m 100 90 87 8 75 80 70 11 8 60 50 9 40 30 (48) 20 10 0 EBIT 1q'09 Fuel margins Volumes Non-fuel sales Optimisation Other EBIT…
  26. INVESTOR PRESENTATION – PKN Orlen SA – slide 26
    Petrochemical segment. Visible improvement in petrochemical segment EBIT change PLN m PLN + 177 m 150 27 105 100 4 25 128 50 0 -50 -100 (72) (7) EBIT 1q'09 Inventory Macro Volumes Optimisation Other EBIT 1q'10…
  27. INVESTOR PRESENTATION – PKN Orlen SA – slide 27
    PKN ORLEN Group results breakdown by key companies in 1q 2010 Others & PKN ORLEN PKN ORLEN PKN ORLEN ORLEN IFRS, PLN m Unipetrol consolidation Group Group (unconsolidated) Lietuva 3) excludings 1q'10 1q'09 Revenues 12 783 2 764 3…
  28. INVESTOR PRESENTATION – PKN Orlen SA – slide 28
    PKN ORLEN Group EBIT by segments in 1q 2010 Others & PKN ORLEN PKN ORLEN PKN ORLEN ORLEN IFRS, PLN m Unipetrol consolidation Group Group (unconsolidated) Lietuva excludings 1q'10 1q'09 Reported EBIT 482 54 -103 31 464 -320 EBIT…
  29. INVESTOR PRESENTATION – PKN Orlen SA – slide 29
    ORLEN Lietuva Key elements of the profit and loss account1 change change 4q'09 1q'10 1q'09 IFRS, USD m 3M'10 3M'09 y/y y/y 1 229 1 060 831 28% Revenues 1 060 831 28% 9 6 15 -60% EBITDA 6 15 -60% -11 -16 -2 -700% EBIT -16 -2…
  30. INVESTOR PRESENTATION – PKN Orlen SA – slide 30
    UNIPETROL Group. Key elements of the profit and loss account1 change change 4q'09 1q'10 1q'09 IFRS, CZK m 3M'10 3M'09 y/y y/y 18 347 18 039 14 513 24% Revenues 18 039 14 513 24% 620 1 352 709 91% EBITDA 1 352 709 91% -260 517…
  31. INVESTOR PRESENTATION – PKN Orlen SA – slide 31
    Key production data change change Key production data 4q09 1q10 1q09 y/y q/q Refinery in Poland 1 Processed crude (tt) 3 498 3 495 3 573 -2% 0% Utilisation 98% 101% 100% 1 pp 3 pp Fuel yield 4 69% 58% 67% -9 pp -11 pp Middle…
  32. INVESTOR PRESENTATION – PKN Orlen SA – slide 32
    Increase in refining margin as well as in U/B differential 12 PKN ORLEN m odel refining m argin (Group) 2009 average 2009 2010 average 2010 9 6 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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