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Q1 2015 RESULTS – Galp Energia

Galp Energia · Apr 27, 2015 · 19 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. Q1 2015 RESULTS – Galp Energia – slide 1
    0 April 27, 2015 RESULTS FIRST QUARTER 2015 An integrated energy player focused on exploration and production FIRST QUARTER 2015 RESULTS
  2. Q1 2015 RESULTS – Galp Energia – slide 2
    FOCUSED MANAGEMENT TEAM COMMITTED TO STRATEGY EXECUTION 2 FIRST QUARTER 2015 RESULTS
  3. Q1 2015 RESULTS – Galp Energia – slide 3
    1Q15 KEY HIGHLIGHTS 3 Ebitda reached 398 m, benefitting from Galp Energias integrated business profile Production increased to 41.5 kboepd with Lula/Iracemas FPSO 1 and 2 at full capacity and ramp-up of FPSO 3 FPSO 4 on track to…
  4. Q1 2015 RESULTS – Galp Energia – slide 4
    AGENDA 4 EXECUTION UPDATE FINANCIAL OVERVIEW CONCLUDING REMARKS APPENDIX FIRST QUARTER 2015 RESULTS
  5. Q1 2015 RESULTS – Galp Energia – slide 5
    1Q15: LOW OIL PRICES SUPPORTED INCREASE IN CONSUMPTION 5 Refining margins vs Brent price Iberian Market Growth (/bbl) (kton, mmcm) Benchmark refining margin (LHS) Brent (RHS) Oil Market, YoY NG Market, YoY 8.0 120 1,000 100 500…
  6. Q1 2015 RESULTS – Galp Energia – slide 6
    LULA/IRACEMA: FPSO 1 AND 2 PRODUCING AT PLATEAU 6 FPSO CIDADE DE ANGRA DOS REIS (1) FPSO CIDADE DE PARATY (2) (100 kbopd) (120 kbopd) Plateau since June 2012 Plateau since September 2014 Average availability of c.95% Average…
  7. Q1 2015 RESULTS – Galp Energia – slide 7
    LULA/IRACEMA: FPSO 3 AND 4 ON TRACK TO DELIVER PRODUCTION GROWTH 7 FPSO CIDADE DE MANGARATIBA (3) FPSO CIDADE DE ITAGUA (4) (150 kbopd) (150 kbopd) Output of c.100 kbopd reached during 1Q15 Topside integration works progressing…
  8. Q1 2015 RESULTS – Galp Energia – slide 8
    DEVELOPING MOZAMBIQUE AND ANGOLA PROJECTS 8 ROVUMA PROJECT BLOCK 14/14K (2.5 3 mtpa and 2x5 mtpa LNG trains 1st phase) World-class gas project being materialised Steady contribution to Groups production in 1Q15 FEED and EPCIC…
  9. Q1 2015 RESULTS – Galp Energia – slide 9
    DOWNSTREAM & GAS: TAKING ADVANTAGE OF MARKET DYNAMICS 9 Refining margins1 NG volumes (/boe and /bbl) (bcm) Benchmark refining margin (/bbl) Galp Energia refining margin (/boe) Sales to direct clients Trading 8 5.9 6 4.7 4.7 1.2 4…
  10. Q1 2015 RESULTS – Galp Energia – slide 10
    AGENDA 10 EXECUTION UPDATE FINANCIAL OVERVIEW CONCLUDING REMARKS APPENDIX FIRST QUARTER 2015 RESULTS
  11. Q1 2015 RESULTS – Galp Energia – slide 11
    EBITDA OF 398 M DESPITE THE FALL IN THE OIL PRICE 11 Profit & Loss RCA ( m) 1Q14 4Q14 1Q15 Turnover 4,125 4,470 3,923 Operating results benefited from improved European refining margins and higher LNG volumes sold Ebitda 265 399…
  12. Q1 2015 RESULTS – Galp Energia – slide 12
    CAPEX AMOUNTING TO 283 M IN 1Q15 12 Capital Expenditure ( m) 366 E&P activities accounted for 96% of Group capex, of which Lula/Iracema represented c.58% 283 Exploration and appraisal capex mainly channelled to G&P 197 Brazil…
  13. Q1 2015 RESULTS – Galp Energia – slide 13
    SOUND CAPITAL STRUCTURE 13 Balance Sheet ( m)1 Dec.2014 Mar.2015 Mar-Dec Working capital positively impacted by lower oil Fixed and LT assets 7,599 7,830 +232 prices Work in progress 1,768 1,924 +156 Net debt of 1.4 bn considering…
  14. Q1 2015 RESULTS – Galp Energia – slide 14
    AGENDA 14 EXECUTION UPDATE FINANCIAL OVERVIEW CONCLUDING REMARKS APPENDIX FIRST QUARTER 2015 RESULTS
  15. Q1 2015 RESULTS – Galp Energia – slide 15
    CONCLUDING REMARKS 15 Focus on Lula/Iracema project execution, with reservoir delivering ahead of expectations Improved R&M and G&P performance and record E&P production Strong financial position maintained Management team…
  16. Q1 2015 RESULTS – Galp Energia – slide 16
    AGENDA 16 EXECUTION UPDATE FINANCIAL OVERVIEW CONCLUDING REMARKS APPENDIX FIRST QUARTER 2015 RESULTS
  17. Q1 2015 RESULTS – Galp Energia – slide 17
    E&P: OPERATIONAL RESULTS IMPACTED BY CURRENT OIL MARKET ENVIRONMENT 17 Main E&P data 1Q14 4Q14 1Q15 Higher production in Brazil, due to FPSO 3 ramp-up Working interest production kboepd 28.1 36.3 41.5 and FPSO 1 and 2 producing at…
  18. Q1 2015 RESULTS – Galp Energia – slide 18
    R&M: RECOVERY OF REFINING MARGINS DROVE BETTER YOY PERFORMANCE 18 Main R&M data 1Q14 4Q14 1Q15 Premium to benchmark of 0.6/boe in the quarter Galp Energia refining margin USD/boe 0.9 4.7 5.9 impacted by planned partial outages in…
  19. Q1 2015 RESULTS – Galp Energia – slide 19
    G&P: EBITDA UP 7% YOY DUE TO STRONG SUPPLY TRADING PERFORMANCE 19 Main G&P data 1Q14 4Q14 1Q15 Trading volumes increased on the back of higher NG supply total sales volumes mm3 2,078 1,885 2,195 contribution from LNG structured sales…

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