Skip to main content 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA Investor Presentation | Shale Experts
Loading...
Database
Slide Database

3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA

PKN Orlen SA · Oct 25, 2012 · 34 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. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 1
    PKN ORLEN consolidated financial results 3Q12 Jacek Krawiec, CEO Sawomir Jdrzejczyk, CFO 25 October 2012
  2. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 2
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 2
  3. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 3
    PKN ORLEN - 3Q12 highlights Financial parameters PLN 1,0 bn operating profit acc. LIFO. Favourable macro environment (y/y): decrease in crude oil price by (-) 3% to 110 USD/bbl. increase in model refining margin and B/U differential…
  4. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 4
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 4
  5. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 5
    Favourable macro environment in 3Q12 (y/y) Crude oil price decrease by (-) 3% Impressive increase in refining margin Average Brent Crude Oil price, USD/bbl Model refining margin and Brent/Ural differential, USD/bbl differential margin…
  6. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 6
    Lower GDP growth and high prices influence fuel consumption GDP increase1 Fuel consumption (diesel, gasoline)2 Change (%) to respective quarter of last year mt 3Q11 4Q11 1Q12 2Q12 3Q12 3Q11 3Q12 3Q11 3Q12 - 5% 4,1 4,6 3,6 3,30 - 5%…
  7. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 7
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 7
  8. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 8
    PLN 31,7 bn of sales revenues record-high quarter 3Q11 2Q12 3Q12 PLN m 9M11 9M12 Increase of revenues by 10% (y/y) as a result of higher refining products prices + 10% + 15% and weakening of PLN against USD. 28 682 27 955 31 654 76…
  9. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 9
    PLN 1,0 bn of operating profit according to LIFO 3Q11 2Q12 3Q12 change y/y PLN m 9M11 9M12 change 1 392 918 2 010 44% EBITDA 4 872 4 447 -9% 778 375 1 448 86% EBIT, of which: 3 127 2 763 -12% 216 1 233 990 358% EBIT according to…
  10. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 10
    Stable sales volumes (y/y) 3Q11 2Q12 3Q12 kt 9M11 9M12 9,6 mt of total sales volumes in 3Q12 comparable level (y/y) 0% - 1% 9 626 8 149 9 627 26 293 26 000 Lower refining sales volumes (y/y) on Sales volumes the Polish market due…
  11. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 11
    High crude oil throughput comparable level (y/y) Crude oil throughput Utilisation ratio mt % PKN ORLEN Unipetrol ORLEN Lietuva - 1% 100 97 7,4 7,2 7,4 100 94 94 93 6,7 90 6,4 90 96 90 79 79 79 92 80 74 70 71 57 60 3Q11 4Q11…
  12. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 12
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 12
  13. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 13
    Safe level of indebtedness and financial ratios Good financial standing Net debt and financial gearing % Financial in PLN bn, % gearing Net debt PLN 5,9 bn and financial gearing 25%. - 3,4 mld Covenant net debt/EBITDA at the level…
  14. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 14
    Good stable cash flows from operations before working capital change 3Q11 2Q12 3Q12 change y/y PLN m 9M11 9M12 change Cash flow from operations before 733 783 2 005 1 272 4 251 4 465 214 working capital change 0 -904 0 0 One-off…
  15. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 15
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 15
  16. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 16
    UPSTREAM Conventional and unconventional projects Unconventional projects (shale gas and tight gas) 8 exploration licenses / 6,75 th km2. Status of projects: 3 vertical wells are finished; 1 horizontal well is in progress. Plan to…
  17. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 17
    ENERGY New projects and improvement of efficiency of assets held Building a gas power plant 500 MWe in Wlocawek Advanced preparation of investment. Block building is planned for 4Q12. Start-up in 4Q15. Power plant sales will be…
  18. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 18
    Agenda 3Q12 highlights Macroeconomic environment Financial and operating results in 3Q12 Liquidity Upstream and energy Summary 18
  19. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 19
    Summary 3Q12 highlights PLN 1,0 bn operating profit acc. to LIFO. PLN 31,7 bn of revenues record-high quarter; increase by 10% (y/y). 9,6 mt sales volumes maintained at high level (y/y). Safe financial position Net debt PLN 5,9…
  20. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 20
    Thank You for Your attention www.orlen.pl For more information on PKN ORLEN, please contact Investor Relations Department: phone: + 48 24 256 81 80 fax: + 48 24 367 77 11 e-mail: irorlen.pl 20
  21. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 21
    Agenda Supporting slides 21
  22. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 22
    PKN ORLEN Favourable macro environment in refining segment PLN m PLN + 670 m 1.500 748 205 1.448 -179 1.000 778 -104 500 0 EBIT 3Q11 Inventory valuation Macro Volumes Other EBIT 3Q12 Negative impact of crude oil price…
  23. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 23
    Refining segment Favorable macro environment at stable sales volumes PLN, m PLN + 801 m 1.200 106 1.136 866 1.000 -18 800 600 400 335 200 -153 0 EBIT 3Q11 Inventory valuation Macro Volumes Other EBIT 3Q12 Negative impact of…
  24. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 24
    Retail segment High sales at better margins PLN, m PLN +90 m 300 10 9 271 71 0 250 200 181 150 100 50 0 EBIT 3Q11 Fuel margins Volumes Non-fuel sales Other EBIT 3Q12 Maintaining high retail volumes at falling consumption.…
  25. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 25
    Petrochemical segment Negative impact of maintenance shutdowns and macro environment PLN, m PLN -154 m 450 49 400 367 350 300 -118 250 87 213 200 150 100 -172 50 0 EBIT 3Q11 Inventory valuation Macro Volumes Other EBIT 3Q12…
  26. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 26
    Main P&L elements split by key companies in 3Q12 Others and PKN PKN PKN PKN PKN ORLEN 3) ORLEN Change IFRS, PLN m Unipetrol 3) consolidation ORLEN ORLEN ORLEN ORLEN Change S.A. Lietuva y/y corrections 3Q12 3Q11 9M12 9M11 Revenues 23…
  27. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 27
    Operating result split by segments and key companies in 3Q12 Others and PKN PKN PKN PKN PKN ORLEN 4) ORLEN Change IFRS, PLN m Unipetrol 4) consolidation ORLEN ORLEN ORLEN ORLEN Change S.A. Lietuva y/y corrections 3Q12 3Q11 9M12 9M11…
  28. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 28
    ORLEN Lietuva Group Key elements of the profit and loss account 1 change 3Q11 2Q12 3Q12 IFRS, USD m 9M11 9M12 change y/y 2 218 1 437 2 323 5% Revenues 6 074 5 691 -6% -5 -56 141 - EBITDA 105 138 31% -24 -68 126 - EBIT 45 93 107%…
  29. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 29
    UNIPETROL Group Key elements of the profit and loss account 1 change 3Q11 2Q12 3Q12 IFRS, CZK m 9M11 9M12 change y/y 24 065 27 102 28 438 18% Revenues 73 100 80 989 11% 505 201 1 656 228% EBITDA 2 896 2 576 -11% -230 -437 942 -…
  30. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 30
    Macro environment in 4Q12 Crude oil price increase Increase in sum of refining margin and B/U diff Average Brent Crude Oil price, USD/bbl Model refining margin and Brent/Ural differential, USD/bbl + 3 USD/bbl differential margin + 1,1…
  31. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 31
    Macro environment in 2012 14 PKN ORLEN Group model refining margin 2011 average 2012 2012 average 2011 12 10 8 6,4 USD/bbl 6 5,3 USD/bbl 4 2,1 USD/bbl 2 0 -2 January February March April May June July August September October…
  32. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 32
    Production data change change Production 3Q11 2Q12 3Q12 (r/r) (kw/kw) 9M11 9M12 change Total crude oil throughput in PKN ORLEN (tt) 7 418 6 362 7 431 0% 17% 20 606 20 448 -1% 1 Refinery in Poland Processed crude (tt) 3 953 3 836 3 759…
  33. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 33
    Dictionary PKN ORLEN model refining margin = revenues (93,5% Products = 36% Gasoline + 43% Diesel + 14,5% HHO) - costs (100% input: crude oil and other raw materials). Total input calculated acc. to Brent Crude quotations. Spot market…
  34. 3Q12 CONSOLIDATED FINANCIAL RESULTS – PKN Orlen SA – slide 34
    www.orlen.pl For more information on PKN ORLEN, please contact Investor Relations Department: phone: + 48 24 256 81 80 fax: + 48 24 367 77 11 e-mail: irorlen.pl 35

From the store

Browse maps, data & reports in the Shale Experts store