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January December and Q4 2011 Results – OMV

OMV · Feb 22, 2012 · 27 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. January December and Q4 2011 Results – OMV – slide 1
    OMV Aktiengesellschaft OMV Results January December and Q4 2011 Gerhard Roiss, Chairman of the Executive Board and CEO David C. Davies, Deputy Chairman of the Executive Board and CFO Jaap Huijskes, Executive Board member…
  2. January December and Q4 2011 Results – OMV – slide 2
    Strong performance in a challenging year New strategy Profitable Growth launched in September 2011 Successful closing of two large capital market transactions (EUR 1.5 bn) Lost-time injury rate in Petrom reduced by 50% within 3 years…
  3. January December and Q4 2011 Results – OMV – slide 3
    Strong financial performance in 2011 (1) Clean CCS EBIT up 2% to EUR 2,509 mn Clean CCS EBIT, EUR mn E&P: Production at 288 kboe/d, down by 9% due to political 2,509 +2% instability in Libya and Yemen 2,470 225 232 Romanian…
  4. January December and Q4 2011 Results – OMV – slide 4
    Strong financial performance in 2011 (2) At a glance Clean CCS EBIT up 2% to EUR 2,509 mn (2010: EUR 2,470 mn) Net income 1 up by 30% to EUR 1,572 mn (2010: EUR 1,214 mn) Cash flow from operating activities down to EUR 2,514 mn…
  5. January December and Q4 2011 Results – OMV – slide 5
    OMV Aktiengesellschaft Results Q4/11 Move & More.
  6. January December and Q4 2011 Results – OMV – slide 6
    Q4/11: Strong fourth quarter concludes a challenging year Clean CCS EBIT at EUR 730 mn, up 29% vs. Q4/10 Average oil price at USD 109.35/bbl, 26% above Q4/10 (USD 86.46/bbl) OMV indicator refining margin declined by 49% vs. Q4/10…
  7. January December and Q4 2011 Results – OMV – slide 7
    Results for Q4/11 Q3/11 Q4/11 Q4/10 in EUR mn 1 2011 2010 Q4/10 2010 564 533 582 (8)% EBIT 2,473 2,334 6% (71) (41) (247) (83)% Financial result (273) (373) (27)% (135) (131) (139) (6)% Taxes (628) (747) (16)% 27% 27% 42% (36)%…
  8. January December and Q4 2011 Results – OMV – slide 8
    Cash flow Q3/11 Q4/11 Q4/10 in EUR mn 1 2011 2010 Q4/10 2010 358 361 195 85% Net income 1,572 1,214 30% 394 418 375 12% Depreciation and amortisation 1,626 1,578 3% 3 (11) 299 n.m. Other (152) 182 n.m. 756 768 869 (12)%…
  9. January December and Q4 2011 Results – OMV – slide 9
    Gearing ratio development 60 50 46 47 40 34 33 34 in % 30 20 Gearing ratio (net debt / equity) 10 Gearing ratio target 30% 0 Q4/10 Q1/11 Q2/11 Q3/11 Q4/11 Maintaining a strong investment grade credit rating…
  10. January December and Q4 2011 Results – OMV – slide 10
    Hedging program 2011: Oil price swaps for a production volume of 50,000 bbl/d (thereof 25,000 bbl/d at Petrom level) Brent price: USD 97/bbl EUR-USD average rate forwards at USD 1.37 Net result in Q4/11: EUR (48) mn 2012: Oil…
  11. January December and Q4 2011 Results – OMV – slide 11
    CAPEX and EBITD CAPEX EBITD Q4/11: EUR 886 mn Q4/11: EUR 948 mn 2011: EUR 3,146 mn 2011: EUR 4,096 mn 3,500 3,094 3,000 CAPEX 2011 EBITD 2011 2,500 2,066 2,000 1,500 1,000 800 468 575 500 279 37 0 (28) (48) (500)…
  12. January December and Q4 2011 Results – OMV – slide 12
    Special items Q3/11 Q4/11 Q4/10 in EUR mn 1 2011 2010 564 533 582 EBIT 2,473 2,334 (13) (16) (39) Personnel related costs (39) (101) (4) (31) 3 Unscheduled depreciation (57) (258) 16 (1) 8 Asset disposals 23 32 (6) (117) 1…
  13. January December and Q4 2011 Results – OMV – slide 13
    Clean CCS EBIT OMV Group clean CCS EBIT Q4/11: EUR 730 mn (Q4/10: EUR 567 mn) 800 Q4/10 730 Q4/11 600 567 551 461 400 200 129 134 82 63 0 (3) (46) (39) (33) (200) E&P G&P R&M Co&O Consolidation Total thereof Petrom…
  14. January December and Q4 2011 Results – OMV – slide 14
    Economic environment 60% 800 50% 40% 30% 600 20% 10% EUR mn 0% 400 (10)% 727 730 (20)% 582 567 (30)% 469 (40)% 200 (50)% (60)% (70)% 0 Q4/10 Q1/11 Q2/11 Q3/11 Q4/11 Clean CCS EBIT in EUR mn (right hand scale)…
  15. January December and Q4 2011 Results – OMV – slide 15
    Group E&P: Restart of production in Libya, but production suspended again in Yemen Production up by 2% vs. Q3/11 mainly due to the partial resumption of production in Libya and increased production in the UK and Romania Q4/11 clean…
  16. January December and Q4 2011 Results – OMV – slide 16
    Petrom E&P: Strong contribution to Group results Clean EBIT 12% higher than in Q3/11, mainly due to positive FX effects and lower costs, despite a lower oil price Increased production vs. Q3/11 in Kazakhstan and Romania, where first…
  17. January December and Q4 2011 Results – OMV – slide 17
    Exploration activities Update Norway: Austria: Kurdistan Region of Iraq: Zidane discovery: 20% stake acquired late Mistelbach 3D seismic: Bina Bawi-3: Testing finalized; December; Zidane-2 exploration well spudded 40% of 325km acquired…
  18. January December and Q4 2011 Results – OMV – slide 18
    Project activities Update UK, West of Shetland: Romania: Schiehallion redevelopment: FID Totea: Discovered in July 2011, tied-in in taken in July, detailed design and October 2011, appraisal well spudded in procurement process (i.e.…
  19. January December and Q4 2011 Results – OMV – slide 19
    Group R&M: Improved clean CCS result in spite of difficult economic environment Improved cost position and operational performance more than offset lower OMV indicator refining margin as a result of a higher oil price in Q4/11 vs.…
  20. January December and Q4 2011 Results – OMV – slide 20
    Petrom R&M: Significantly improved refining performance First positive full-year clean CCS EBIT since privatization Improved cost and operational performance supported by Arpechim closure more than offset extremely low refining margin…
  21. January December and Q4 2011 Results – OMV – slide 21
    Petrol Ofisi R&M: Industry retail margins under pressure in Q4/11 Market leader in white oil product sales with market share of 26% and step-up to leading position in lubricants business (market share: 24%) Industry retail margins…
  22. January December and Q4 2011 Results – OMV – slide 22
    Group G&P: Favorable price revision partially offset margin pressure Successful negotiations on price revision partially offset strong pressure on EconGas margins Gas transportation business reported higher volumes vs. Q4/10 due to…
  23. January December and Q4 2011 Results – OMV – slide 23
    Petrom G&P: Construction of power plants finalized Lower EBIT compared to Q4/10 mainly due to import obligation and reversals of bad debt provisions in Q4/10 Brazi construction successfully completed by the end of 2011, however,…
  24. January December and Q4 2011 Results – OMV – slide 24
    Outlook 2012 Roll-out of the group-wide performance program energize OMV Net CAPEX 2012 to be in line with the guidance of average annual net CAPEX of EUR 2.4 bn (excl. acquisitions) Continued focus on Health, Safety, Security and…
  25. January December and Q4 2011 Results – OMV – slide 25
    Strategy Profitable Growth: Main targets Stabilized production in Romania and Austria: 200-210 kboe/d until 2014 Production growth until 2016 1: 2% p.a. organic, up to 4% incl. acquisitions Access to upstream gas: Romania, Caspian…
  26. January December and Q4 2011 Results – OMV – slide 26
    Our strategy Profitable Growth Asset base, in % Growing upstream E&P 35 55 G&P 12 Integrated 20 R&M 53 gas 25 OMV OMV target portfolio 2010 portfolio 2021 Restructured oil downstream Increasing asset base significantly…
  27. January December and Q4 2011 Results – OMV – slide 27
    28 OMV Group, Q4/11

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