SECOND QUARTER AND FIRST HALF 2009 RESULTS AUGUST 06 2009 Extending success into new challenges Investor Relations
HIGHLIGHTS Second Quarter and First Half 2009 Results Investor Relations
SECOND QUARTER AND FIRST HALF 2009 RESULTS HIGHLIGHTS EXPLORATION & Strong decrease in crude price, down 53% YoY PRODUCTION REFINING & Global weak demand with negative impact on refining margins MARKETING GAS & Natural…
2Q09 NET PROFIT OF 52 MLN Profit & Loss Mln 2Q09 2Q08 YoY QoQ 1H09 YoY Turnover 2,866 4,020 (29%) (2%) 5,793 (23%) Operating results EBITDA 130 216 (40%) (14%) 281 (38%) impacted by R&M, though E&P 29 70 (58%) +90% 45 (64%)…
ECONOMIC ENVIRONMENT IMPACTING OPERATING DRIVERS Working interest KEY OPERATING DATA production impacted by OPEC cuts 2Q09 2Q08 YoY QoQ 1H09 YoY Working interest production kbbl/d 13.4 15.5 (14%) +1% 13.3 (9%) Refining margin…
BUSINESS OVERVIEW Second Quarter and First Half 2009 Results Investor Relations
STRONG DECREASE IN CRUDE PRICE, DOWN 53% YoY MAIN DATA E&P 2Q09 2Q08 YoY QoQ 1H09 YoY OPEC cuts in 2009 negatively impacted Working interest production kbbl/d 13.4 15.5 (14%) +1% 13.3 (9%) production levels Net entitlement…
GLOBAL WEAK DEMAND WITH NEGATIVE IMPACT ON REFINING MARGINS MAIN DATA R&M Light/heavy crude spread decrease drove down premium to benchmark 2Q09 2Q08 YoY QoQ 1H09 YoY and refining margins Galp Energia refining margin /bbl 1.6 4.0…
NATURAL GAS SUPPLY MARGINS RECOVERING MAIN DATA G&P Strong volumes in 2Q09 2Q08 YoY QoQ 1H09 YoY liberalized industrial segment with positive NG supply total sales volumes M m3 1,115 1,478 (25%) +4% 2,189 (26%) impact on EBITDA…
FINANCIAL OVERVIEW Second Quarter and First Half 2009 Results Investor Relations
2Q09 NET PROFIT RCA OF 52 MLN Profit & Loss Others are mainly related to cost savings at the Mln 2Q09 2Q08 YoY QoQ 1H09 YoY holding level, which will Turnover 2,866 4,020 (29%) (2%) 5,793 (23%) be allocated to business segments…
CAPEX FOCUSED ON TRANSFORMATIONAL PROJECTS EXECUTION CAPEX E&P capex conducted to G&P Mln operations in Block 14, R&M namely Tmbua-Lndana, E&P which production is due to 300 264 ramp-up at 3Q09 250 216 200 168 Conversion…
STABLE NET DEBT LEVEL DESPITE DIVIDEND PAYMENT CONSOLIDATED BALANCE SHEET Mln Jun. 2009 Mar. 2009 Jun - Mar Dec. 2008 Jun - Dec Fixed assets increase, in line with capex execution Fixed assets 3,824 3,698 +126 3,881 (57) Work…
STRONG LIQUIDITY POSITION Debt structure as of June 2009 64% 89% Net debt totalled 2.1 Bln 36% 11% Average M/L-term debt Floating Fixed Short-term M/L-term maturity of 4.3 years M/L-term M/L-term Average interest rate…
OUTLOOK EXPLORATION & Drilling program, namely in Santos and Esprito Santo basins PRODUCTION REFINING & Cautious refining margin outlook MARKETING GAS & Mismatch of sourcing and marketing natural gas contracts ends in…
STRATEGY EXECUTION KEY POINTS 9 Tmbua-Lndanas production to start-up in 3Q09 9 BM-S-11s project (Tupi, Iara and Iracema) on fast track development 9 Conversion project execution on time 9 Synergies captured from Iberian…
SECOND QUARTER AND FIRST HALF 2009 RESULTS AUGUST 06 2009 Tiago Villas-Boas Investor Relations Officer tiagovbgalpenergia.com T: +351 21 724 08 66 Extending success into new challenges www.galpenergia.com F: +351 21 724 29 65
Loading...
