27 April 2012 Results & strategy execution update FIRST QUARTER 2012 Solid foundations to deliver sustainable value
Key highlights Business overview Strategy execution update Final remarks Appendix 2 First quarter 2012 results
Key highlights Net profit in 1Q12 reached 50 Mln Outstanding exploration and appraisal results in Mozambique Exploration drilling activity underway on high potential projects Upgrade project heading to its end 3 First…
Key highlights Business overview Strategy execution update Final remarks Appendix 4 First quarter 2012 results
Net profit in 1Q12 reached 50 Mln Profit & Loss (Mln) 1Q12 1Q11 YoY 4Q11 QoQ E&P and G&P supported earnings growth Turnover 4,795 3,796 +26% 4,375 +10% EBITDA 200 135 +48% 212 (6%) E&P 88 48 +85% 66 +34% R&M impacted by the…
Net debt impacted by the cash-in from capital increase in Petrogal Brasil Balance sheet (Mln) Mar. 2012 Dec. 2011 Change 5.2 bln deal successfully completed in March, Fixed assets 6,120 6,002 +118 ending a period of Work in…
Short term outlook 2Q12 working interest production targeted at c.25 kboepd Refining margin to recover QoQ, following benchmark trend Marketing volumes to remain depressed, still impacted by the Iberian economic environment…
Key highlights Business overview Strategy execution update Final remarks Appendix 8 First quarter 2012 results
Outstanding exploration and appraisal results in Mozambique Mozambique Rovuma basin Mamba NE well reinforced Mamba complex natural gas in place estimate to at least 40 Tcf Currently drilling an Eocene prospect not connected…
1st drilling phase completed in Jpiter NE key well BM-S-24 Jpiter NE well primary aim is to assess CO2 distribution and thickness of oil rim The well is currently drilled until the top of the salt layer (c. 3,000 metres)…
Appraisal activities reinforced Iaras potential Iara field Iara West well successfully confirmed the discovery extension in the pre-salt layer Forthcoming DST will be key to define the subsequent appraisal activities, pending…
Currently drilling Carcar prospect in BM-S-8 BM-S-8 Carcar well has already confirmed the presence of high quality oil in reservoirs located at c.5,750 meters The well continues being drilled to find the lower limit of the…
Upgrade project heading to its end Sines refinery Commissioning started, with c.450 systems out of 600 already completed Hydrocracker handover to the refinery during 2Q12 Production from new units should progressively…
Key highlights Business overview Strategy execution update Final remarks Appendix 14 First quarter 2012 results
Final remarks Promising exploration and appraisal activity throughout 2012 Lula development project on track with growing impact in earnings Upgrade project to positively impact earnings in 2H12 Sound capital structure to…
Key highlights Business overview Strategy execution update Final remarks Appendix 16 First quarter 2012 results
E&P earnings supported by the production ramp up in Brazil Main E&P data 1Q12 1Q11 YoY 4Q11 QoQ Lula-1 project drove production growth with an Working interest production kboe/d 22.6 19.0 +19% 21.6 +5% average production of 7.4…
EBITDA up 25% YoY following marketing business improvement Main R&M data 1Q12 1Q11 YoY 4Q11 QoQ Galp Energia refining margin followed the trend Galp Energia refining margin /bbl 0.8 1.3 (41%) 0.0 n.m. of the international Spread…
G&P improvement on the back of trading activity Main G&P data 1Q12 1Q11 YoY 4Q11 QoQ Natural gas supply volumes supported by the NG supply total sales volumes M m3 1,725 1,605 +7% 1,414 +22% trading activity Electrical M m3 368…
Capex shift towards upstream growth projects Capital expenditure (Mln) Development activities G&P in Brazil responsible for R&M E&P - Production majority of E&P capex E&P - Exploration 302 Exploration activities in…
Major debt reimbursement scheduled for 2013-14 period M/L-term debt reimbursement profile (Mln) 1,200 Total net debt of 0.8 Bln, 1,000 with an average life of 2.1 800 years 600 400 200 Average interest rate of 0 2012 2013…
Investor Relations team Tiago Villas-Boas, Head of IR Ctia Lopes Ins Santos Maria Borrega Pedro Pinto Samuel Dias +351 21 724 08 66 investor.relationsgalpenergia.com www.galpenergia.com Results & presentation weblink…
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