Good results in difficult macroeconomic environment PKN ORLEN consolidated financial results for 3 quarter 2009 Jacek Krawiec, CEO Sawomir Jdrzejczyk, CFO 13 November 2009 1
Agenda Summary Financial results achieved in 3q 2009 Operating perspectives for 4q 2009 Supporting slides 2
Over PLN 900 m achieved at the net profit line in 3q 2009 3q08 2q09 3q09 Change y/y 23 057 16 770 18 649 PLN 423 m of reported operating profit. Revenues -19% PLN m 661 Positive EBIT acc. to LIFO. 512 423 EBIT 12% increase in…
with depressed refining margins and low U/B differential Further decrease of refining margin Growing crude oil prices and dramatically low U/B differential Average Brent Crude Oil price (USD/bbl) Model refining margin1, Ural/ Brent…
Successful realization of operational plans SALES INCREASE KEY INVESTMENT PROJECTS 7% increase (q/q) on all operated retail markets. Continuation of PX/PTA investment acc. to the In refining segment increase by 12% (q/q) in PKN…
Agenda Summary Financial results achieved in 3q 2009 Operating perspectives for 4q 2009 Supporting slides 6
Positive operating result acc. to LIFO and almost PLN 1 bn of net profit change change 2q'09 3q'09 3q'08 PLN m 1-3q'09 1-3q'08 y/y y/y 16 770 18 649 23 057 -19% Revenues 50 121 63 088 -21% 1 1 317 1 050 1 120 -6% EBITDA 2 698 4…
Almost PLN 1 bn of positive credits revaluation Debt Credits revaluation due to PLN appreciation is reducing the debt by almost PLN 1 bn. Positive exchange rates differences in credits denominated in USD at the level of PLN 550 m for…
Significant increase of sales volumes in 3q2009 change change 2q09 3q09 3q08 th t 1-3q09 1-3q08 y/y q/q Sales volumes, 8 139 8 837 9 052 -2% 25 191 26 552 -5% including the following: 5 419 6 081 6 371 -5% Refining 17 130 18 601…
High level of production capacity utilisation PKN ORLEN 3 598 3 594 3 573 3 586 3 870 PKN ORLEN (3q2009) increase 102% 100% 100% of crude oil throughput 102% 108% before planned maintenance shutdowns of Hydrocracking and…
Positive operating result acc. to LIFO due to higher retail sales, improvement of petrochemicals results and growing crude oil prices change change 2q09 3q09 3q08 PLN, m 1-3q09 1-3q08 y/y y/y 661 423 512 -17% EBIT, including the…
Negative impact of macro factors off-set by inventory valuation effect EBIT change PLN m PLN - 89 m 1500 623 1000 500 109 (626) 512 423 (195) 0 EBIT 3q08 Inventory valuation Macro Volumes Others EBIT 3q09 Increase of…
Agenda Summary Financial results achieved in 3q 2009 Operating perspectives for 4q 2009 Supporting slides 14
Difficult macroeconomic situation continues in 4q 2009 16 Refining margin of PKN ORLEN Group 2008 2009 rednia 2008 Average 2008 Average 2009 rednia 2009 12 8 6,4 USD/bbl 4,1 USD/bbl 4 0 stycze January luty February marzec…
Structural debt reduction remains priority for next months Obligatory inventories Anwil Polkomtel Value of obligatory Preparation of information Selection of transactional inventories at the end of set and sending of information…
Over PLN 2 bn of additional cash flow in 2009. CAPEX OPEX Working capital PLN 1 bn PLN 0,5 bn PLN 0,5 bn Optimization of capital Limitation of operating costs Optimization of inventories. expenditures in whole year by over PLN…
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 18
Agenda Summary Financial results achieved in 3q 2009 Operating perspectives for 4q 2009 Supporting slides 19
Macroeconomic environment in refining PKN ORLEN model refining margin (Group)1) Decrease by 56% y/y to the level of 3,1 USD/b in 3q09 7,0 7,1 7,7 5,3 4,6 3,6 3,1 3,1 1q'08 2q'08 3q'08 4q'08 1q'09 2q'09 3q'09 4q'09QTD Brent…
Macroeconomic environment in petrochemicals and financial sector PKN ORLEN model petrochemical margin (Group)1) Exchange rate PLN/USD and PLN/EUR2) Decrease by 23 % y/y to the level of 601 EUR/t in 3q09 PLN/USD increase by 50% y/y and…
Refining segment. Segment results under strong pressure of macro environment and volumes EBIT change PLN - 141 m PLN, m 1000 588 800 600 400 (485) 200 278 (225) 137 0 (19) EBIT 3q'08 Inventory valuation Macro Volumes…
Retail segment. Further increase in fuel and non-fuel sales volumes EBIT change PLN + 124 m PLN, m 500 30 161 400 (36) 300 (31) 200 363 100 239 0 EBIT 3q'08 Fuel sales Non-fuel sales Fuel stations costs Other EBIT 3q'09…
Petrochemical segment. Positive operating profit of the segment in 3q2009 EBIT change PLN, m PLN - 148 m 300 35 200 100 213 (130) (23) (30) 65 0 EBIT 3q'08 Invetories Macro Volumes Other EBIT 3q'09 valuation…
PKN ORLEN Group EBIT by segments in 3q2009 Others & PKN ORLEN PKN ORLEN PKN ORLEN ORLEN IFRS, PLN m Unipetrol consolidation Group Group (unconsolidated) Lietuva excludings 3q'09 3q'08 Reported EBIT 332 -10 -157 258 423 512 EBIT…
PKN ORLEN Group results breakdown by key companies in 3q2009 Others & PKN ORLEN PKN ORLEN PKN ORLEN ORLEN IFRS, PLN m Unipetrol consolidation Group Group (unconsolidated) Lietuva excludings 3q'09 3q'08 1 13 562 3 070 3 574 -1 557…
ORLEN Lietuva Group Key elements of the profit and loss account1 change change 2q09 3q09 3q08 IFRS, USD m 1-3q09 1-3q08 y/y y/y 1 003 1 234 2 388 -48% Revenues 3 087 6 347 -51% 65 -11 24 - EBITDA 72 201 -64% 46 -33 6 - EBIT 11…
UNIPETROL Group Key elements of the profit and loss account1 change change 2q09 3q09 3q08 IFRS, CZK m 1-3q09 1-3q08 y/y y/y 15 795 18 732 29 899 -37% Revenues 49 040 79 129 -38% 584 866 1 638 -47% EBITDA 2 159 4 831 -55% -271 5…
Key production data change change Key production data 3q09 2q09 3q08 y/y q/q Refinery in Poland 1 Processed crude (tt) 3 870 3 586 3 597 7,6% 7,9% Utilisation 108,3% 100,0% 102,0% 6,2 pp 8,3 pp Fuel yield 4 58,4% 66,6% 64,4% -5,9 pp…
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 31
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