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CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA

PKN Orlen SA · Nov 9, 2006 · 23 slides

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Slides

  1. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 1
    Consolidated financial results of PKN ORLEN Q32006 (IFRS) Igor Chalupec, CEO Pawe Szymaski, CFO 9 November 2006 1
  2. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 2
    Agenda Financial results in Q306 Analysis of results in Q306 - segments Supporting slides 2
  3. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 3
    Increase in the PKN ORLEN results despite more challenging macroeconomic environment Key financial data in Q3061 change y/y PLN m Q3'2005 Q2'2006 Q3'2006 change q/q [%] [%] 1 2 3 4=3/1 5=3/2 EBITDA 1 623 1 644 1 681 3.6% 2.3%…
  4. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 4
    Strong increase in volume sales of retail fuels and petrochemical products shows impact of marketing initiatives of PKN ORLEN Key operating data in Q306 change y/y change y/y Q3'2005 Q3'2006 [%] [%] PKN ORLEN PKN ORLEN PKN ORLEN…
  5. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 5
    Dynamic increase of EBITDA in comparable market conditions confirms PKN ORLENs efficiency EBITDA (PLN m) Q32006 ROACE (%) Q32006 (comparable market conditions)1 (comparable market conditions)1 20,0 15,0 1,000 +67.6% 10,0 2 050…
  6. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 6
    Agenda Financial results in Q306 Analysis of results in Q306 - segments Supporting slides 6
  7. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 7
    Unfavourable macroeconomic conditions in refining segment in Q32006 y/y and q/q Exchange rates1 Refinery margin 3.96/b average in Q320063. Decrease by 35% y/y and 29.9% q/q 3Q 06 4Q 06 5,0 PLN/USD 2006 PLN/EUR 2006 16 2 2006 2005…
  8. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 8
    Simplified P&L account Increase in net profit q/q by 16.5%, despite unfavourable macro conditions Unipetrol effect change y/y IFRS, PLN m Q3'2005 Q2'2006 Q3'2006 change q/q [%] Q3'2006 [%] 1 2 3 4 5=4/1 6=4/2 Revenues 13 074 13 545…
  9. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 9
    Operating costs Cost discipline maintained decrease of fixed costs q/q Unipetrol effect IFRS, PLN m Q3'05 Q2'06 Q3'06 y/y [%] q/q [%] Q3'06 1 2 3 4 5=4/1 5=4/2 Raw m aterials and energy 6 541 7 629 2 253 7 972 22% 4% Costs of goods…
  10. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 10
    Increase of operating profit as a result of corporate strategy and increase of Unipetrol results (y/y) Unipetrol IFRS, in m PLN 3Q'2005 2Q'2006 effect 3Q'2006 y/y [%] q/q [%] 3Q'2006 1 2 3 4 5=4/1 6=4/2 Operating profit , of which 1…
  11. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 11
    Refining Concentration on efficiency improvement and product slate optimisation. Good results despite unfavourable macroeconomic conditions. Q305 Q306 in PLN m 32 29 17 76 43 1600 125 126 68 1400 76 85 1200 70 1000…
  12. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 12
    Retail Excellent effects of the implemented strategy. Profit increased over 3.5 times Q305 Q306 In PLN m 2 1 200 180 14 160 34 140 120 34 100 187 80 52 Sales optimization in all distribution channels 60 caused volume and…
  13. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 13
    Petrochemicals Significant sales volume increase is a key driver of segment result. In PLN m Q305 Q306 400 20 9 350 69 19 24 300 Refers to higher Olefin II 48 Unit depreciation 250 154 200 73 Mainly due to increase 150…
  14. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 14
    Chemicals Significant improvement of segment performance. Q305 Q306 In PLN m Includes results of 6 80 OPTIMA Programme PLN 22 m 60 10 40 42 57 20 0 71 Refers to depreciation and amortisation -20 -52 changes made in…
  15. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 15
    Results of OPTIMA Program after Q306 Achieved savings of over PLN 200 m in PLN m Programme realisation and results after 3Q 06 are in line with expectations Progress in the majority of 39 segments is at a satisfactory or very good…
  16. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 16
    Agenda Financial results in Q306 Analysis of results in Q306 - segments Supporting slides z Orlen Deutschland z Petrochemical market environment summary z Unipetrol z OPTIMA cost reduction according to plan…
  17. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 17
    ORLEN Deutschland Restructuring of the business visible in the results IFRS, PLN m Q3'05 Q2'06 Q3'06 y/y [%] q/q [%] 1 2 3 4=3/1 5=3/2 Assets 1 485 1 509 1 490 0.3% -1.3% Equity 459 350 350 -23.7% 0.0% IFRS, in PLN m Q2'06 y/y [%] q/q…
  18. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 18
    Petrochemical market from 1 January 2005 to 3 November 2006 Ethylene Propylene 1000 1000 900 in EUR/tone 900 in EUR/tone 800 800 700 700 600 600 432 499 500 413 500 464 398 398 383 400 386 362 338 400 353 346 293 338 300…
  19. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 19
    Unipetrol Group Selected financial data for Q306 vs. Q305 (1/2) Preliminary financial results of main subsidiaries of Unipetrol a.s. Q1-Q3 Q3 IFRS in CZK m Q1-Q3'05 Q1-Q3'06 Q3'05 Q3'06 Comments y/y y/y Chemopetrol a.s. Strong…
  20. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 20
    Unipetrol Group Selected financial data for Q306 vs. Q305 (2/2) Preliminary financial results of main subsidiaries of Unipetrol a.s. Q1-Q3 Q3 IFRS in CZK m Q1-Q3'05 Q1-Q3'06 Q3'05 Q3'06 Comments y/y y/y Kaucuk a.s. High overall…
  21. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 21
    Unipetrol Group Financial and operational results for Q306 Preliminary consolidated financial highlights of Unipetrol a.s. for Q306 IFRS, in CZK m 31/12/2005 30/09/2006 [%] 1 2 3 4 5=2/1 Equity 39 696 42 613 - - 7,3% Total assets…
  22. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 22
    Unipetrol Group Selected financial data in 2005-2006 Selected operational highlights for Q105 to Q306 Operational data* 2004 Q1'05 Q2'05 Q3'05 Q4'05 2005 Q1'06 Q2'06 Q3'06 y/y [%] q/q [%] Total sales, of which 4 692 1 118 1 326 1…
  23. CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 23
    Results of OPTIMA Program after Q306 in individual areas in PLN m Execution and results after Q306 in line with expectations 53 18 9 32 215 36 68 Procurement Support Retail Production Logistics Subsidiaries Total…

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