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3Q 2003 RESULTS – PKN Orlen SA

PKN Orlen SA · Nov 14, 2003 · 21 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. 3Q 2003 RESULTS – PKN Orlen SA – slide 1
    3Q 2003 Results Restructuring yields significant results November 2003
  2. 3Q 2003 RESULTS – PKN Orlen SA – slide 2
    Financial highlights Operating cash flow almost PLN 1 bn IFRS basis , in PLN m 3Q 03 3Q 02 change 4 691 40,9% l Surge in revenues due to Revenue 6 609 EBIT 350 285 22,8% consolidation of German activities EBITDA 651 578 12,6% l First…
  3. 3Q 2003 RESULTS – PKN Orlen SA – slide 3
    Market environment in oil & gas sector Satisfactory margin level Crude oil price, Brent (USD/b) 30 lStable demand for crude in OECD countries (y-o-y) 28 5,5% l Average increase in crude oil (Brent) 26 in 3Q by 5.5% from USD…
  4. 3Q 2003 RESULTS – PKN Orlen SA – slide 4
    Market environment Poland Economic recovery on track Real GDP growth 3.9E% 5% l Visible GDP growth confirms economic FY estimation: 3.0- 3.5% 4% recovery. Unemployment rate 17.5% 3% (down by 0.1 pp y-o-y, down 0.3 pp q-o-q) 2% l…
  5. 3Q 2003 RESULTS – PKN Orlen SA – slide 5
    Operating highlights Wholesale market share in fuels regained IFRS basis, in PLN m l Increase in total retail sales due to 3Q 03 3Q 02 change consolidation of the German activities Retail sales of motor 1 051 599 75,5% l and…
  6. 3Q 2003 RESULTS – PKN Orlen SA – slide 6
    Profit/ Cash flow visible effects of restructuring in operating CF profitability IFRS basis, in PLN m 3Q 03 3Q 02 change l Increase in consolidated retail sales of PLN 1.9 bn due to Revenues 6 609 4 691 40,9% consolidation of German…
  7. 3Q 2003 RESULTS – PKN Orlen SA – slide 7
    Balance sheet Financial strengthening of PKN ORLENs position IFRS basis, in PLN m 3Q 03 2Q 03 change Non current assets 10 704 10 323 3,7% lChange in inventory structure Current assets, of which 6 532 6 430 1,6% and higher demand led…
  8. 3Q 2003 RESULTS – PKN Orlen SA – slide 8
    PKN ORLEN maintains its position on the Polish fuel market Gasoline Diesel (tt) oil 1 400 1 400 1 200 1 200 1 000 66,7% 67,1% 1 000 59,2% 60,9% 59,0% 800 66,4% 800 600 600 400 400 200 200 0 0 III Q 2001 III Q 2002 III Q 2003E…
  9. 3Q 2003 RESULTS – PKN Orlen SA – slide 9
    Next quarter of satisfactory profitability in refinery and wholesale segment lSubstantial shift between gasoline Refining and wholesale and diesel with LPG IFRS basis, PLN m 3Q03 3Q02 change lIncrease in sales volume of Revenues 4…
  10. 3Q 2003 RESULTS – PKN Orlen SA – slide 10
    Margin optimization and domestic market recovery visible in improved segment result Retail IFRS basis, PLN m 3Q03 3Q02 change lNext quarter of visible recovery in Revenues 3 239 1 163 178,5% domestic volumes* by 2.4% y-o-y Total…
  11. 3Q 2003 RESULTS – PKN Orlen SA – slide 11
    Next consecutive quarter of robust profitability of Pet-chems Petrochemicals IFRS basis, PLN m 3Q03 3Q02 change l Increase of sales volume in Revenues 1 085 1 150 -5,7% monomers and fertilizers resulted Total costs of the 1 031 1…
  12. 3Q 2003 RESULTS – PKN Orlen SA – slide 12
    Outlook for 4Q 2003 Retail a small percentage increase in volumes with a slight decrease in unit margins on fuels. But a still visible increase in the margin of non-fuel products. A visible shift between gasoline and diesel and…
  13. 3Q 2003 RESULTS – PKN Orlen SA – slide 13
    Impact of Cost-cutting 13
  14. 3Q 2003 RESULTS – PKN Orlen SA – slide 14
    Cost-cutting in line with our plan lPLN 49 m savings in 3Q03 , with PLN 4 m implementation cost lPLN 100 m savings in 2003 as a result of smooth start up of about 500 initiatives, including for example: lDecrease of catalysator…
  15. 3Q 2003 RESULTS – PKN Orlen SA – slide 15
    PLN 100 m savings to realize in 2003 in PLN m l800 Savings Inwestmets and lCurrentlywe estimate implementation costs about PLN 100 m savings in l450-500 2003 lIn 3q03 we have recorded PLN 49 m savings l80-130 49 lEstimated…
  16. 3Q 2003 RESULTS – PKN Orlen SA – slide 16
    The number of initiatives started reflects the effective implementing the cost-cutting programme Number of initiatives with first results Number of initiatives started lSavings Total number of initiatives potential in lSegment 2005…
  17. 3Q 2003 RESULTS – PKN Orlen SA – slide 17
    Examples of initiatives with first results In PLN m lLevel o f costs in 2002 lSavings lRealisation of included in potential in full potential lInitiatives initiatives 2005 lCurrent achivments l Production and technology l Decrease…
  18. 3Q 2003 RESULTS – PKN Orlen SA – slide 18
    Production and logistics are pillars of the cost cutting programme in 2003 In PLN m l15 l 100 l-35 l40 l80 lLogistic lProductio lSale lCorporate lSavings n and centre estimation in technology 2003 * .Mainly caused…
  19. 3Q 2003 RESULTS – PKN Orlen SA – slide 19
    Supplementary slides 19
  20. 3Q 2003 RESULTS – PKN Orlen SA – slide 20
    Over 50% stations in Germany is operating under new brand By the end of the year all planned stations in Germany will be rebranded Net profit at a level of PLN 3.4 m Recorded trend in 3q 2003 in ORLEN Deutschland: Station with…
  21. 3Q 2003 RESULTS – PKN Orlen SA – slide 21
    3q2003 - influence of ORLEN Deutschland and JV with Basell on consolidated Balance Sheet and P&L Balance sheets - selected item s (PLNm ) 3Q2003 3Q2003 Germ any 2Q2003 Property, plant and equipment 9 653 680 9 449 Inventories 3 002 123 3…

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