29 October 2012 Results & Strategy execution update NINE MONTHS AND THIRD QUARTER 2012 Solid foundations to deliver sustainable value
Key highlights Strategy execution update Business overview Final remarks Appendix 2 Nine months and third quarter 2012 results
Key highlights Key wells in Brazil de-risking portfolio Establishment of a structured relationship with ENH in Mozambique, increasing Galp Energias influence in the area Sines hydrocracker commissioning underway EBITDA in…
Key highlights Strategy execution update Business overview Final remarks Appendix 4 Nine months and third quarter 2012 results
Key wells in Brazil de-risking portfolio BM-S-8 BM-S-24 Carcar well already proved a significant oil Initial results confirmed the continuity of discovery with an over 400 meters oil column previous discovery Well already…
Several milestones achieved with potential additional upside Lula-11 project production (kboepd) Lula-1 project at plateau production in 3Q12 changing 120 slightly MoM due to 100 maintenance works 80 WAG and highly deviated…
Working together with ENH in Mozambique Mozambique Formal agreement established increasing Galp Energias influence in the area ; Mamba NE-2 Agreement can open new Coral-1 opportunities in Mozambique Appraisal activities…
Entering in a new refining era by the end of the year New units at Sines refinery Hydrocracker commissioning underway with steady production expected for the end of 4Q12 8 Nine months and third quarter 2012 results
Iberian oil market to be further impacted by austerity measures Iberian oil products market (Mton) 20,000 20,000 20,000 20,000 15,000 15,000 15,000 15,000 10,000 10,000 10,000 10,000 5,000 5,000 5,000 5,000 0 0 0 0…
Leveraging on international LNG tight market Iberian volumes (Bcm) LNG trading volumes (Bcm) 4.6 1.7 4.4 4.4 Cargoes (): Far East: 11 3.0 Europe: 4 South 0.7 America: 3 0.5 0.3 2009 2010 2011 9M12 2009 2010 2011…
Executing our strategy according to highly sustainable practices Dow Jones Sustainability Index Presence in the Dow Jones Sustainability Index (DJSI) World and the DJSI Europe for the first time Part of the restricted group of…
Key highlights Strategy execution update Business overview Final remarks Appendix 12 Nine months and third quarter 2012 results
Net profit in 3Q12 of 98 Mln, up 58% YoY Profit & Loss (Mln) 3Q12 3Q11 YoY QoQ 9M12 YoY EBITDA increase driven by higher Brazilian Turnover 4,925 4,277 +15% +8% 14,276 +15% production and LNG EBITDA 306 222 +38% +9% 786 +33%…
Sound financial structure maintained Balance sheet (Mln) Sep.2012 Jun.2012 Sep - Jun Dec.2011 Sep - Dec Net debt increase followed capex, dividend Fixed assets 6.430 6.154 +276 6.002 +428 payment and Setgs Work in progress 2.559…
Short term outlook 4Q12 working interest production targeted at c.24 kboepd Benchmark refining margin to decrease QoQ impacted by the end of maintenance season Marketing volumes down YoY, impacted by the Iberian macro economic…
Key highlights Strategy execution update Business overview Final remarks Appendix 16 Nine months and third quarter 2012 results
Final remarks Lula development project being successfully executed with upside to be tested Forthcoming exploration results with potential to unlock value Strategic agreement with ENH with potential to open new opportunities in…
Key highlights Strategy execution update Business overview Final remarks Appendix 18 Nine months and third quarter 2012 results
Lula-1 project steady production during 3Q12 Main E&P data Lula-1 project drove 3Q12 3Q11 YoY QoQ 9M12 YoY production growth with an Working interest production kboepd 25.9 20.8 +24% +1% 24.8 +20% average production of 10.9 Net…
EBITDA was 14% higher YoY on the back of improved refining margins Main R&M data Refining business benefited 3Q12 3Q11 YoY QoQ 9M12 YoY from increase in benchmark Galp Energia refining margin /bbl 4.4 0.9 n.m. n.m. 2.6 n.m.…
EBIT 29% higher YoY supported by LNG trading activity Main G&P data 3Q12 3Q11 YoY QoQ 9M12 YoY LNG trading activity weighting 33% of natural NG supply total sales volumes M m3 1,470 1,159 +27% (2%) 4,696 +19% gas supply volumes…
Capex shift to upstream materialized Capital expenditure (Mln) 72% of total capex in G&P 3Q12 allocated to E&P R&M E&P - Production activities E&P - Exploration 808 Lula project responsible for the majority of E&P 613…
Competitive interest rate of 4.4% maintained despite sovereign risk M/L-term debt reimbursement profile (Mln) 1,000 Total net debt of 1.4 Bln 800 or 0.4 Bln if adjusted by 600 loan to Sinopec 400 200 Upcoming maturities to be…
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 For further…
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