28 October 2011 Results NINE MONTHS AND THIRD QUARTER 2011 Delivering growth through exploration and production
Key highlights Business overview Strategy execution update Final remarks Appendix 2 Nine Months and Third Quarter 2011 results
Key highlights Net profit in 3Q11 reached 61 Mln Sines refinery steady production post-upgrade in 2Q12 Lula/Cernambi development plan being executed Drilling activity focused on high potential projects Ensuring a solid and…
Key highlights Business overview Strategy execution update Final remarks Appendix 4 Nine Months and Third Quarter 2011 results
Net profit reached 61 Mln in 3Q11 Profit & Loss (Mln) 3Q11 3Q10 YoY QoQ 9M11 YoY G&P solid performance driven by higher supply Turnover 4,277 3,590 +19% (2%) 12,429 +19% margins EBITDA 221 223 (1%) (4%) 585 (14%) E&P 63 37 +69%…
Net debt increase driven by transformational capex execution Balance sheet (Mln) Sep.2011 Jun.2011 Sep - Jun Dec.2010 Sep - Dec Capex decelerating with refining upgrade project Fixed assets 5,884 5,782 +103 5,426 +458 coming to…
Short term outlook 4Q11 working interest production targeted at c.23 kbopd Refining margin to be positively impacted by Matosinhos refinery upgrade Marketing volumes down QoQ, still impacted by the Iberian macro economic…
Key highlights Business overview Strategy execution update Final remarks Appendix 8 Nine Months and Third Quarter 2011 results
Ensuring a solid and trustable capital structure Brazilian portfolio Key highlights Using E&P Brazil for potential minimum cash in of c.2 Bln Assets captured companies interest worldwide Binding offers already received…
Sines refinery steady post-upgrade production in 2Q12 4Q11 1Q12 2Q12 + Matosinhos up and New Sines refinery Steady production running since June and units start-up Fully integrated refining currently producing VGO Commissioning…
In the right track to portfolio diversification Mozambique Rovuma basin First exploration well confirms Rovuma as a world class province Mamba South estimated natural gas in place up to 22.5 Tcf Next well to be drilled this…
Drilling activity will continue focusing on high potential projects Potiguar basin BM-S-8 First exploration well scheduled for 4Q11 Drilling in 4Q11 targeting two prospects Iara area BM-S-24 Iara W in 4Q11 to better…
Lula/Cernambi development plan being executed Lula-1 project cumulative producing wells1 4 3 Flow rate of 28 kbbl/d 2 since May with gas injection well 1 Jan. 2011 Nov. 2011 Dec. 2011 Feb. 2012 Lula production…
Key highlights Business overview Strategy execution update Final remarks Appendix 14 Nine Months and Third Quarter 2011 results
Final remarks Forthcoming Brazilian transaction announcement Upgrade project capex reaching the end contributing to incremental cash flow generation De-risking of resources ongoing in crucial areas Development of…
SAVE THE DATE Galp Energia Capital Markets Day 2012 London March 6th 2012 16 Nine Months and Third Quarter 2011 results
Key highlights Business overview Strategy execution update Final remarks Appendix 17 Nine Months and Third Quarter 2011 results
Brazil gaining relevance within business segment Main E&P data 3Q11 3Q10 YoY QoQ 9M11 YoY Lula field drove working interest production growth Working interest production kbbl/d 20.8 19.6 +6% (5%) 20.6 +7% Net entitlement…
R&M EBITDA impacted by the refining business Main R&M data Refining margin followed 3Q11 3Q10 YoY QoQ 9M11 YoY negative trend of Galp Energia refining margin /bbl 0.9 2.1 (60%) +37% 0.8 (70%) international markets Spread over…
EBITDA improved YoY supported by supply business Main G&P data 3Q11 3Q10 YoY QoQ 9M11 YoY Supply margin increase supported by optimization NG supply total sales volumes M m3 1,159 1,302 (11%) (2%) 3,951 +10% Electrical M m3 490…
Capex evolution signing final stage of upgrade project Capital expenditure (Mln) G&P Development activities R&M in Brazil responsible for E&P most of E&P capex 864 808 Upgrade refining project accounting for c.80% of R&M…
Additional facilities of 0.91 Bln M/L-term debt reimbursement profile (Mln) 1.000 Major debt reimbursement scheduled for 2012-14 800 period 600 400 200 Total net debt of 3.4 Bln, with an average life of 2.3 0 2011 2012…
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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