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Q1 2006 – PKN Orlen SA

PKN Orlen SA · May 15, 2006 · 24 slides

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Slides

  1. Q1 2006 – PKN Orlen SA – slide 1
    PSGJAN05EPK2_OVERVIEW(01).PPT Consolidated financial results of PKN ORLEN Q1 2006 (IFRS) Igor Chalupec, CEO Pawe Szymaski, CFO May 15th 2006 1
  2. Q1 2006 – PKN Orlen SA – slide 2
    Agenda Financial results in Q106 Analysis of results in Q106 - segments Supporting slides 2
  3. Q1 2006 – PKN Orlen SA – slide 3
    Lower Q106 results due to extremely unfavourable macroeconomic conditions Key financial data In m PLN Q1'05 Q4'05 Q1'06 y/y [%] q/q [%] 1 2 3 4=3/1 5=3/2 Net profit 668 314 365 -45% 16% EBITDA 1 086 1 027 984 -9% -4% ROACE…
  4. Q1 2006 – PKN Orlen SA – slide 4
    Negative effects of external environment on PKN ORLEN results, despite the improvement in volumes sold Q105 Q106 In m PLN 1 100 50 7 1 000 54 68 900 69 83 (96) 800 11 (110) 700 (130) 600 500 903 (133) 33 400 793 668…
  5. Q1 2006 – PKN Orlen SA – slide 5
    Significant increase of flues & petrochemicals volumes sold Positive effects of PKN ORLEN expansion Key operating data Q1'05 Q1'06 y/y [%] y/y [%] PKN ORLEN PKN ORLEN PKN ORLEN PKN ORLEN PKN ORLEN PKN ORLEN mother comp mother comp…
  6. Q1 2006 – PKN Orlen SA – slide 6
    Considerable increase of EBITDA in comparable market conditions is a positive sign for the realization of the plan in the following quarters EBITDA (PLN m) ROACE (%) (same market conditions)1 (same market conditions)1 35,0 2 000…
  7. Q1 2006 – PKN Orlen SA – slide 7
    Agenda Financial results in Q106 Analysis of results in Q106 - segments Supporting slides 7
  8. Q1 2006 – PKN Orlen SA – slide 8
    Adverse conditions on refining and petrochemical market on Q106 Sound improvement of the macroeconomic environment from the beginning of Q206 Exchange rates1 Refinery margin 2,56/b average in Q1063 Decrease by 28% y/y Q206 Q206…
  9. Q1 2006 – PKN Orlen SA – slide 9
    Simplified P&L account Decrease of operating profit y/y, although increase by 13% q/q Unipetrol effect In m PLN Q1'05 Q4'05 Q1'06 y/y [%] q/q[%] Q1'06 1 2 3 4 5=4/1 6=4/2 Revenues 6 806 12 9691 2 804 11 331 66,5% -12,6% Operating…
  10. Q1 2006 – PKN Orlen SA – slide 10
    Expenses Decrease of fixed costs vs. Q405 Staff costs decrease by 8% y/y underpins the restructuring program at PKN ORLEN Unipetrol effect In m PLN Q1'05 Q4'05 Q1'06 q/q [%] Q1'06 1 2 3 4 5=4/2 Raw m aterials and energy 3 269 7 191 1…
  11. Q1 2006 – PKN Orlen SA – slide 11
    Operating profit of PKN ORLEN Petrochemical segment stands as a leader of growth Unipetrol In m PLN (IFRS) Q1'05 Q4'05 effect Q1'06 y/y [%] q/q [%] Q1'06 1 2 3 4 5=4/1 6=4/2 Operating profit , of which 798 400 68 451 -43,5% 12,8% 1…
  12. Q1 2006 – PKN Orlen SA – slide 12
    Decrease of operating profit due to hostile external conditions Key factor behind decrease of net results Q105 Q106 In m PLN 800 11 700 600 500 64 64 33 400 668 (28) 300 (347) (52) (4) 200 365 321 100 0…
  13. Q1 2006 – PKN Orlen SA – slide 13
    Refining segment In PLN m Q105 Q106 800 33 20 37 700 50 (6) (27) 600 (56) 500 (96) 400 (120) 300 552 (138) 200 100 (110) 139 0 Volume sales low Inland premium Crude oil own Fuel cracks Unfourable…
  14. Q1 2006 – PKN Orlen SA – slide 14
    In m PLN 0 10 20 30 40 50 60 70 80 Segment profit Q1'05 1 Q105 ORLEN Deutschland Volumes sale 32 Retail segment 13 Other operating activity PKN 12 Non-fuel margin 7 OPTIMA 4…
  15. Q1 2006 – PKN Orlen SA – slide 15
    Petrochemical segment In m PLN Q105 Q106 56 17 500 135 450 (8) (13) 400 350 Margin decrease y/y eg. ethylene by 20% 300 (130) and propylene by 10 % (17) 250 200 310 150 270 Includes higher depreciation of Olefins II…
  16. Q1 2006 – PKN Orlen SA – slide 16
    Chemical segment In m PLN Q105 Q106 80 6 New segment - Chemicals 70 zChemical segment included operating 3 activity of the following entities: 60 - Anwil (17) - Spolana 50 - Unipetrol Trade 40 - ORLEN PetroProfit (chemical…
  17. Q1 2006 – PKN Orlen SA – slide 17
    Results of OPTIMA Program in Q106 Breakdown by segment In m PLN First results of OPTIMA Program are in line with expectations 17 54 OPTIMA Program is executed as scheduled. 20 Progress at majority of segments is at satisfactory…
  18. Q1 2006 – PKN Orlen SA – slide 18
    Agenda Financial results in Q106 Analysis of results in Q106 - segments Supporting slides z Petrochemicals market environment summary z Unipetrol z OPTIMA the streams of cost reduction z Orlen Deutschland 18
  19. Q1 2006 – PKN Orlen SA – slide 19
    Unfavourable conditions on petrochemical market in Q106* Ethylene Propylene 1000 900 900 in EUR/tone 800 in EUR/tone 800 700 700 600 600 500 500 413 427 383 398 398 370 400 322 314 304 338 383 400 293 353 338 343 290…
  20. Q1 2006 – PKN Orlen SA – slide 20
    Unipetrol Group Selected financial data for Q106 vs. Q105 Preliminary financial results of main subsidiaries of Unipetrol a.s. In ths. CZK (IFRS) Q1'05 Q1'06 y/y [%] Chemopetrol a.s. Revenues 7 302 886 8 408 916 15,1% EBIT 1 227 518…
  21. Q1 2006 – PKN Orlen SA – slide 21
    Unipetrol Group Financial and Operational Results for Q106 Preliminary consolidated financial highlights of Unipetrol a.s. Q106 In m CZK (IFRS) Q1'05 2005 Q1'06 y/y [%] 1 2 3 4=3/1 Equity b.d. 38 988 39 790 - Total assets b.d. 76…
  22. Q1 2006 – PKN Orlen SA – slide 22
    Unipetrol Group Selected financial data in 2003 - 2006 Operational highlights from Q103 to Q106 Operating data* Q1'03 Q2'03 Q3'03 Q4'03 2003 Q1'04 Q2'04 Q3'04 Q4'04 2004 Q1'05 Q2'05 Q3'05 Q4'05 2005 Q1'06 Total sales (tt) , of w…
  23. Q1 2006 – PKN Orlen SA – slide 23
    Results of OPTIMA Program Q106 The streams of cost reduction In m PLN First results of OPTIMA Program are in line with expectations 17,5 54 6 11 1,5 14 44 Procurement Support Retail (BONUS) Production Logistics…
  24. Q1 2006 – PKN Orlen SA – slide 24
    ORLEN Deutschland Selected financial data Q106 vs Q105 in m PLN (IFRS) Q1'05 Q4'05 Q1'06 y/y [%] q/q [%] 1 2 3 4=3/1 5=3/2 Assets 1 432 1 309 1 445 0,9% 10,4% Equity 462 325 327 -29,2% 0,6% IFRS in m PLN Q1'05 Q4'05 Q1'06 y/y [%] q/q…

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