10 February 2014 Results FOURTH QUARTER AND FULL YEAR 2013 An integrated energy player focused on exploration and production
Key highlights Strategy execution update Business overview Final remarks Appendix 3 Fourth quarter and full year 2013 results
Key highlights Lula-1 project performing according to plan, while Lula NE production continues its ramp-up Key appraisal activities underway to optimise Iara development plan with DoC at YE2014 Pit well opened a new play in…
Key highlights Strategy execution update Business overview Final remarks Appendix 5 Fourth quarter and full year 2013 results
E&P: Lula/Iracema: an outstanding project being executed according to plan 2010 2013 2014 2015-2017 Development plan Start of production of FPSO 2 ramp-up during Seven additional FPSO to submitted for FPSO 2 in June, with one…
E&P: Lula NE project on track for full production ramp-up by 4Q14 Lula NE milestones Schedule Status Delivery of FPSO Cidade de Paraty May-13 Start of production Jun-13 Connection of injector well Aug-13 Connection of producer…
E&P: Appraisal works at Iara key to better delineate development plan Iara field Performing DST at Iara HA One EWT scheduled for 2014, with location pending final results at Iara HA Two FPSO already contracted, but appraisal…
E&P: Continued appraisal works to de-risk Jpiter and Carcar Block BM-S-24 Block BM-S-8 Bracuhy results reinforced volumes of oil and Evaluating whether to drill Carcar Extension in condensates to be developed in the block one or…
E&P: Pit well proved first oil accumulation discovery in Potiguar offshore basin Potiguar offshore basin Pit results opened a new play in high potential frontier area offshore Brazil Well with two objectives in the Cretaceous…
G&P: Continued strong business performance Natural gas sales to direct clients (bcm) LNG trading sales (bcm) 4.6 4.4 4.0 4.1 3.0 2.2 0.7 0.5 2010 2011 2012 2013 2010 2011 2012 2013 Stable demand for natural gas…
Key highlights Strategy execution update Business overview Final remarks Appendix 13 Fourth quarter and full year 2013 results
4Q13 Ebitda up 16% YoY driven by higher E&P production Profit & Loss ( m) Ebitda benefited mainly from 4Q13 4Q12 YoY QoQ 2013 YoY higher production in Brazil, Turnover 4,717 4,231 +11% (19%) 19,620 +6% following start of production…
Maintaining a robust financial position Balance sheet ( m)1 Disciplined working capital management in the period, namely of inventories Dec.2013 Sep.2013 Dec - Sep Dec.2012 Dec - Dec Fixed and LT assets 6,883 6,833 +50 6,599…
In 4Q13, capex allocated to E&P activities accounted for c.70% of total Capital expenditure ( m) G&P Development activities in BM-S- R&M E&P - Production 11 accounted for c.70% of E&P E&P - Exploration capex, including…
Sucessfully aligning debt maturities with expected cash flow profile Debt reimbursement profile1 ( m) 1,000 Placement of 500 m inaugural 800 bond in 4Q13, currently trading 600 with an yield of 3,3% (5Y fixed rate) 400 200…
Key highlights Strategy execution update Business overview Final remarks Appendix 18 Fourth quarter and full year 2013 results
Final remarks Strong commitment to execute Lula/Iracema development project on time and on budget Intensive appraisal during 2014 to de-risk development of Iara, Jpiter and Carcar Positive cash flow from downstream and gas…
SAVE THE DATE Galp Energia Capital Markets Day 2014 London, 4 March 2014
Key highlights Strategy execution update Business overview Final remarks Appendix 21 Fourth quarter and full year 2013 results
Production increased 24% YoY driven by Lula NE start-up Main E&P data Brazil production increased by 3.2 kboepd YoY, following start- 4Q13 4Q12 YoY QoQ 2013 YoY up of FPSO 2 and two EWT in 4Q13 Working interest production kboepd…
R&M results capped by harsh refinery environment Main R&M data Refining margin of 1.7/bbl benefited from contribution of 4Q13 4Q12 YoY QoQ 2013 YoY upgrade project, although Galp Energia refining margin USD/bbl 1.7 0.9 +83% +5% 2.2…
LNG trading volumes increased by 44% YoY driving G&P Ebitda up 7% YoY Main G&P data Robust LNG trading activity, with 9 cargoes sold in 4Q13, mainly to 4Q13 4Q12 YoY QoQ 2013 YoY LatAm and Asian markets NG supply total sales…
Short term outlook 1Q14 WI production expected to reach c.26 kboepd, benefiting from second producer well at Lula NE whilst impacted by continuing decline in Angola Refining business to be impacted by a general turnaround at Sines…
Investor Relations team Tiago Villas-Boas, Head Catarina Aguiar Branco Ctia Lopes Maria Borrega Pedro Pinto +351 21 724 08 66 Investor.relationsgalpenergia.com For further information on Galp Energia, please go to:…
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