Skip to main content 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA Investor Presentation | Shale Experts
Loading...
Pm

2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA

PKN Orlen SA · Feb 29, 2008 · 32 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. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 1
    PSGJAN05EPK2_OVERVIEW(01).PPT 2007 financial results (IFRS) and financial assumptions for 2008 plan Waldemar Maj, CFO February 29, 2008 1
  2. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 2
    Agenda z 2007 financial results overview z Financial assumptions for 2008 plan z Supporting slides 2
  3. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 3
    Realization of PKN ORLEN Group strategy in 2007 Implementation of projects enabling long term production and sales increase Segment Action realized Effect achieved Restoring the VDU in Mazeikiu Nafta (Lithuania) Restoration of…
  4. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 4
    EBITDA increased by 8% in 2007 vs 2006 despite maintenance turnarounds both in refining and petrochemical segments Key financial data in 20071 PLN m 2006 2007 r/r [%] 1 2 3=2/1 EBITDA 4 685 5 039 8% EBITDA 5 293 5 947 12%…
  5. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 5
    Wholesale and retail fuel volumes sales increase as a result of efficiency improvement and retail network modernization Key operating data in 2007 2006 2007 y/y [%] y/y [%] unconsolidated Group unconsolidated Group unconsolidated…
  6. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 6
    EBIT increase by 2% on yearly basis Efficiency improvement by PLN 282 m, EBIT increase by PLN 44 m PLN m EBIT change + PLN 44 m inventory valuation macro and one-offs efficiency change + PLN 1 130 m - PLN 1 368 m + PLN 282 m 4 000…
  7. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 7
    Refining segment Efficiency improvement by PLN 148 m, EBIT increase by PLN 75 m PLN m EBIT change + PLN 75 m inventory valuation macro and one-offs efficiency change + PLN 1 053 m - PLN 1 126 m + PLN 148 m 3 000 +1053 Wholesale…
  8. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 8
    Retail segment Efficiency improvement by PLN 81 m, EBIT decrease by PLN 16 m PLN m EBIT change - PLN 16 m one-offs efficiency change 700 - PLN 97 m + PLN 81 m 600 500 439 +34 +13 +3 423 400 +31 300 -84 * -13 volume increase…
  9. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 9
    Petrochemical segment Efficiency improvement by PLN 89 m, EBIT increase by PLN 226 m PLN m EBIT change + PLN 226 m inventory valuation macro and one-offs efficiency change + PLN 77 m + PLN 60 m + PLN 89 m 1400 1300 1200 1100…
  10. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 10
    Chemical segment Efficiency improvement by PLN 16 m, EBIT increase by PLN 22 m m PLN EBIT change + PLN 22 m macro and one-offs efficiency change 290 + PLN 6 m + PLN 16 m 270 246 +17 250 224 +33 -1 230 210 190 -27…
  11. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 11
    Agenda z 2007 financial results overview z Financial assumptions for 2008 plan z Supporting slides 11
  12. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 12
    Investment plans for 2008 as part of strategy till 2012 Projects driven by higher demand for high margin middle distillates and petrochemical products Segment Planned action Expected effect Completion of the main investment phase of…
  13. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 13
    Main operating assumption as for 2008 Dynamic increase of production and sales in the refining segment Key operating assumption in PKN ORLEN Group in 2008 Estimated change 2008/2007 in % Plan for 2008 Crude throughput in PKN ORLEN…
  14. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 14
    Thank You for Your attention For more information on PKN ORLEN, please contact Investor Relations Department: telefon: + 48 24 365 33 90 faks: + 48 24 365 56 88 e-mail: irorlen.pl www.orlen.pl 15
  15. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 15
    Agenda z 2007 financial results overview z Financial assumptions for 2008 plan z Supporting slides z 4Q2007 financial results z Macrodata z Other finacial and operational data (quarterly and annual basis) z Shutdown schedule…
  16. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 16
    EBIT: 4Q2007 compared to 4Q2006 Efficiency decrease by PLN 205 m, EBIT increase by PLN 288 m PLN m EBIT change + PLN 288 m inventory valuation macro and one-offs efficiency change + PLN 1 030 m - PLN 537 m - PLN 205 m 1 000 +1…
  17. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 17
    Refining segment on quarterly basis Efficiency decrease by PLN 151 m, EBIT increase by PLN 459 m PLN m EBIT change + PLN 459 m inventory valuation macro and one-offs efficiency change + PLN 970 m - PLN 360 m - PLN 151 m 1000 +…
  18. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 18
    Retail segment on quarterly basis Efficiency improvement by PLN 6 m, EBIT decrease by PLN 48 m PLN m EBIT change - PLN 48 m one-offs efficiency change 140 - PLN 54 m + PLN 6 m 120 114 100 Volume increase by 11% 80 +4 66…
  19. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 19
    Petrochemical segment on quarterly basis Efficiency improvement by PLN 3 m, EBIT decrease by PLN 27 m PLN m EBIT change - PLN 27 m inventory valuation macro and one-offs efficiency change + PLN 60 m - PLN 90 m + PLN 3 m 300 250…
  20. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 20
    Chemical segment on quarterly basis Efficiency decrease by PLN 12 m, EBIT decrease by PLN 43 m PLN m EBIT change - PLN 43 m one-offs efficiency change - PLN 31 m - PLN 12 m 120 100 81 80 60 +1 38 40 -31 -13…
  21. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 21
    Macroeconomic environment in 2007 compared to 2006 Strong Polish zloty and high crude oil price as external factors influencing PKN ORLEN results Model PKN ORLEN refinery margin (Group) Model PKN ORLEN refinery margin (Plock) Increase…
  22. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 22
    Impact of one-off items on EBIT in 4Q07 and 2007 EBIT increase excluding one-off items Impact of one-offs on 4Q07 EBIT IFRS, in PLN m 4Q'06 2006 4Q'07 2007 1 2 3 4 EBIT (reported in accordance to average weighted) -168 2 577 120 2…
  23. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 23
    EBIT breakdown in PKN ORLEN Group in 4Q07 and FY2007 Performance improvement in refining, petrochemical and chemical segments in FY2007 Unipetrol effect MN effect IFRS, m PLN 2006 2007 y/y [%] in 2007 in 2007 1 2 3 4 5=4/1 EBIT, of…
  24. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 24
    Mazeikiu Nafta Group. Key elements of the financial statements1 EBIT decrease in 2007 due to the maintenance shutdown and low utilisation ratio change change IFRS, in USD m 4Q'06 4Q'07 2006 2007 y/y [%] y/y [%] 1 2 3=2/1 4 5 6=5/4…
  25. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 25
    Unipetrol Group. Key elements of the financial statements1 EBIT decrease in 2007 due to the planned refinery and petrochemical maintenance shutdowns change change IFRS, in CZK m 4Q'06 4Q'07 2006 2007 y/y [%] y/y [%] 1 2 3=2/1 4 5…
  26. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 26
    ORLEN Deutschland EBIT increase of 7% in 4Q07 vs 4Q06 change change IFRS, PLN m 4Q'06 4Q'07 2006 2007 y/y [%] y/y [%] 1 2 3=2/1 4 5 6=5/4 Revenues 2 156 2 358 9,4% 8 838 8 684 -1,7% EBITDA 14 24 71,4% 98 101 3,1% EBIT -6 4 - 28 30…
  27. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 27
    Key production data In Lithuania temporarily utilization of 51% in 2007 due to vacuum distillation unit (VDU) fire in 2006. VDU was rebuilt by the end of January 2008 Operating data 4Q'06 4Q'07 y/y [%] 2006 2007 y/y [%] 1 2 3=2/1 4 5…
  28. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 28
    Key planned shutdowns in PKN ORLEN Group in 2008 Introduced maintenance policy enables to optimise production and increase volumes sales of refining products in long time horizon 1Q08 2Q08 3Q08 4Q08 Pock: HDS VI Pock: HOG…
  29. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 29
    BIOfuels PKN ORLEN fully prepared for regulations National Target Index (NTI): Regulations z NTI calculation: In order to fulfill NTI in 2008 amounting to 3,45% PKN ORLEN plans to put on the market around 55 th. tonnes of rapeseed…
  30. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 30
    Exchange rate and interest rate risk management policy focused on stabilizing cash flows Exchange rate and interest rate risk management policy z The policy does not allow to speculate and is based on detailed parameters such as level…
  31. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 31
    Explanation of differences between results based on LIFO and weighted average valuation of crude oil (1/2) Crude oil inventories (tt) Crude oil price (PLN/t) 300% 1 800 1 500 200% 1 200 900 100% 600 300 0% 0 2000 2001 2002…
  32. 2007 FINANCIAL RESULTS (IFRS) AND FINANCIAL ASSUMPTIONS FOR 2008 PLAN – PKN Orlen SA – slide 32
    Explanation of differences between results based on LIFO and weighted average valuation of crude oil (2/2) LIFO valuation practices in PKN ORLEN Additional commentary to LIFO valuation According to LIFO method: According to the LIFO…

From the store

Browse maps, data & reports in the Shale Experts store