OMV results January June and Q2 2013 August 13, 2013 OMV Aktiengesellschaft
Strategic highlights and results January June 2013 Gerhard Roiss, Chairman of the Executive Board and CEO OMV Aktiengesellschaft
Market environment 6m/13 Brent oil price in USD/bbl 113 06/2013 01/2013 102 Oil price: Decreasing to average USD 108/bbl (6m/12:114) Operating environment: Instability in Middle East and North Africa Gas prices: Ongoing spread spot…
Highlights in 6m/13 1.6 EUR bn free cash flow after dividends (6m/12: EUR 194 mn) 1 bn boe E&P project pipeline up to 6 bcm p.a. Neptun potential gas production, OMV Petrom share 50% 6 new exploration licenses awarded in…
Financial performance in 6m/13 Clean CCS EBIT in EUR mn Exploration and Production (17)% Production decrease to 299 kboe/d (6m/12: 302) and 1,665 Brent price down to USD 107.5/bbl (6m/12: 113.6) 1,584 Gas and Power (39)% EconGas…
Solid financial basis for growth 6m/13, in EUR bn 3.5 Group CAPEX 6m/13: EUR 1.1 bn thereof NWC Debt 75% in E&P 0.9 reduction 1.7 EUR 0.9 mn net working capital Cash flow reduction 1.4 Dividend Gearing ratio down from 26%…
Focus on upstream activities 7 OMV Group, Results January - June and Q2 2013
Grow Upstream to 350 kboe/d OMV Production in kboe/d 350 2 Production in core countries stabilized at 208 kboe/d 299 Growth: 2/3 of Group CAPEX in E&P 1 bn boe project pipeline; increased exploration activities 126 Black Sea: 3D…
Optimize Downstream R&M: Executed divestments: Marketing businesses in Bosnia- Herzegovina and Croatia Lubricants business EUR 1.4 bn cash generation in 6m/13 Strong operating cash flow Several working capital reduction…
Results Q2/13 David C. Davies, Deputy Chairman of the Executive Board and CFO OMV Aktiengesellschaft
Q2/13 Highlights Clean CCS EBIT in EUR mn Average Brent oil price at USD 102/bbl, down by 5% 865 Production at 297 kboe/d 733 Lower liftings mainly in Libya G&P burdened by negative EconGas 743 performance 597 Increased…
Results in Q2/13 Clean CCS net income attributable in EUR mn Q2/13 Q2/12 to stockholders in EUR mn 1 EBIT 667 621 7% Financial result (109) (26) n.m. Taxes (216) (236) (9)% Effective tax rate 39% 40% (3)% 455 Net income 343 360…
Cash flow 6m/13 in EUR mn 6m/13 6m/12 in EUR mn Net income 1,294 986 31% Depreciation and 998 1,003 (0)% amortization 851 Other (536) (324) 65% (536) (1,175) 998 (616) Sources of funds 1,756 1,665 5% 783 1,599 Change in net…
CAPEX and EBITD 6m/13 Key investments in Q2/13 in EUR mn 2,856 Petrom drilling, workovers and redevelopments Field developments in Norway (Aasta Hansteen and Edvard Grieg) 1,830 Schiehallion redevelopment in UK 1,120 130 EBITD…
Special items and CCS effect Q2/13 in EUR mn Q2/13 Q2/12 in EUR mn Clean CCS EBIT 733 865 733 CCS gains/(losses) (67) (104) (67) 667 (1) 0 (3) 5 Clean EBIT 666 761 Personnel related costs (1) (23) Unscheduled depreciation 0…
Exploration and Production Clean EBIT in EUR mn Q2/13 vs. Q1/13 Q2/13 vs. Q2/12 743 (20) 653 597 (119) 597 (72) 17 (3) 2 (41) 34 Q1/13 Realization Volume Exploration Other Q2/13 Q2/12 Realization Volume Exploration Other…
Exploration and Production Key Performance Indicators Hydrocarbon production (1,000 boe/d) Q2/13 vs. Q1/13 305 309 301 302 297 Production down by 2% Technical issues in Austria and 164 168 159 163 159 Kazakhstan Security problems…
Exploration and Production Petrom group Hydrocarbon production (1,000 boe/d) Q2/13 vs. Q1/13 182 182 183 183 184 Clean EBIT of EUR 297 mn down by 8%, mainly due to 89 88 88 89 88 lower oil price and oil sales partly offset by lower…
Gas and Power Clean EBIT in EUR mn Q2/13 vs. Q2/12 19 (46) (30) 2 (2) (3) Q2/12 Supply, Gas logistics Power Other Q2/13 marketing and trading Supply, marketing and trading: Negative EconGas performance and decrease…
Gas and Power Key Performance Indicators Gas sales volumes in TWh Q2/13 vs. Q2/12 136 129 Total gas sales volumes down by 5% 100 89 85 driven by EconGas Petrom sales volumes increased by 3% Renegotiations with Gazprom and Q2…
Refining and Marketing Clean CCS EBIT in EUR mn Q2/13 vs. Q2/12 (19) 25 25 160 129 Q2/12 Fuels Petrochemicals Marketing Q2/13 Improved result in Petrom refining due to six-week shutdown in Q2/12 and lower costs…
Refining and Marketing Key Performance Indicators Refining utilization rate in % Q2/13 vs. Q2/12 97 94 93 95 92 89 87 86 76 Refining utilization at 94%, up by 18% 43 Marketing sales volumes increased Marketing business in…
Key financial indicators Gearing ratio in % 31 28 26 15 15 Key financial principles Q2/12 Q3/12 Q4/12 Q1/13 Q2/13 Long-term gearing ratio target of 30% Payout ratio and DPS 1.20 Maintain a strong investment grade rating 1.00…
Outlook 2013 Market environment Brent price: Above USD 100/bbl on average Gas market: More determined by hub prices Romania: Gas price liberalization in implementation Refining margins: Lower levels than in 2012 Business outlook…
energize OMV update David C. Davies, Deputy Chairman of the Executive Board and CFO OMV Aktiengesellschaft
energize OMV 2% points ROACE increase in 2014 on track ROACE impact Date of Progress since status June 2013 finalization program start Stabilize production in Austria and 2014 Romania Accelerate production growth in Tunisia…
Expected ROACE impact in 2014 Impact of energize OMV on ROACE in 2014 (in % points) Achievements: Commingling successes growing: 1,500 boe/d achieved by 6m/13 (600 boe/d in 2012) 2014 Debottlenecking initiatives in E&P finalized…
Exploration and Production Update Jaap Huijskes, Executive Board member responsible for E&P OMV Aktiengesellschaft
E&P project summary Q2/13 Further strengthened project pipeline to 1bn boe Zidane 500 mn boe under appraisal Rosebank New FRD projects established in Romania: FRD Bustuchin, FRD Muntenia, FRD Istria Bina Bawi (Kurdistan Region of…
Major projects under development New ventures Exploration Appraisal Development Execution Production 2P Peak Project Working Project Country Type Operated start reserves production investments interest primary year mn boe kboe/d…
Major projects under appraisal New ventures Exploration Appraisal Development Execution Production Cumulative Working Project Country Type Operated start production interest primary year mn boe % Bina Bawi Oil/Gas 2013 1 t.b.d.…
Exploration summary Q2/13 High impact drilling: Bonna Wisting Central Norway: Bonna-1 spud (July); Wisting (operated) spud (Aug.) Australia: Bianchi-1 appraisal well successful discovered Cambo-5 112 m net gas pay UK: Cambo 5 dry…
High impact wells 1 in 2013/14 Exploration and Production Working Well Country Basin/Block Type 2 Spud date Operated Exploration interest Apollo NO Bnna Barents Sea E Drilling 20% n Bnna Wisting Wisting Central Barents Sea E…
OMV committment to Norway growth rewarded with successful license award Norway is currently a global exploration hot spot 2 Wisting Bnna 6 new exploration licenses in 22nd licensing round 4 non-operated in the Barents Sea 2…
Upstream Key energize OMV achievements Stabilize production in Romania Accelerate production growth in Ongoing development and and Austria Tunisia and Pakistan operational excellence in rest of world Facilities debottlenecked…
Gas and Power update Hans-Peter Floren, Executive Board member responsible for G&P OMV Aktiengesellschaft
Integrated gas: Optimizing OMVs equity gas positions Short-term focus on improving Build up competitiveness equity gas position Build on strong gas logistics and sales positions Maintain Mid- and long-term position focus on…
1.7 GW gas-fired power plants on stream Status Brazi CCPP (Romania) Commercial operations since August 2012 860 MW net capacity 9% market share at full capacity Equity gas-fired Most modern and flexible power plant in Investment:…
Refining and Marketing update Manfred Leitner, Executive Board member responsible for R&M OMV Aktiengesellschaft
OMV downstream market grows despite European trend EU-28 market 1 OMV market 1, 2 In mn t 2012-21, mn t 615 104 99 554 +5% -10% Turkey Turkey 2012 2021 2012 2021 1Oil market products: LPG, naphtha, gasoline, jet/kero,…
Strong business integration and further increased asset utilization Own crude oil % of refining capacity Competition 2012 1 12% OMV 2012 18% E&P Refining OMV 2015 25% Refinery utilization rate Retail sales vol. % of refining…
Divestments of up to EUR 1 bn on track June Sale of lubricants business November Sale of share in K-PET February Sale of Marketing Business Croatia 2011 2012 2013 2014 Sale of 45% stake in Bayernoil Capital Markets…
Modernization of upstream integrated refinery Petrobrazi leads to significant yield improvements 2010 2011 2012 2013 2014 2015 Concept, Execution phase Crude distillation Coker upgrade & Vacuum gasoil First full year of…
Strong contribution to energize OMV R&M achievements Reduce working capital Optimize marketing Improve refining Sale of Austrian national stock Operational excellence filling Yield improvement holding business stations EUR 5 mn…
Borealis contributes strongly to R&M results Borouge 1 as capacity driver of Borealis, Solid contribution to OMVs bottom line adding 4.4 mn t per year until 2014 from Borealis (OMV share 36%) kt p.a. EUR mn 2,400 4,400 1,000 186…
Conclusions Gerhard Roiss, Chairman of the Executive Board and CEO OMV Aktiengesellschaft
Strategy Profitable Growth: H2/13 steps Deliver key growth projects; 70% of CAPEX in E&P E&P Recommence drilling in Production start Mehar the Black Sea and Latif (Pakistan) E&P pipeline FID Nawara (Tunisia) 4 high impact growth to…
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