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January December and Q4 2012 Results – OMV

OMV · Feb 21, 2013 · 44 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 2012 Results – OMV – slide 1
    OMV Aktiengesellschaft OMV Results January December and Q4 2012 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 responsible…
  2. January December and Q4 2012 Results – OMV – slide 2
    OMV Aktiengesellschaft 2012 Full Year Result Gerhard Roiss, Chairman of the Executive Board and CEO February 21, 2013 Move & More.
  3. January December and Q4 2012 Results – OMV – slide 3
    Market environment 2012 Brent oil price in USD/bbl 12/2012 111 109 01/2012 Oil price: Constant at high level Production: Recovery in North Africa Gas prices: Significant spread spot vs. long-term Refining margins: Volatile with…
  4. January December and Q4 2012 Results – OMV – slide 4
    Delivering strong results in 2012 +35% clean CCS EBIT to EUR 3.4 bn +25% sales 1 to EUR 42.6 bn +100% E&P project pipeline 4 major upstream transactions Largest gas discovery in OMVs history 860 MW gas-fired power capacity on…
  5. January December and Q4 2012 Results – OMV – slide 5
    Strong financial performance in 2012 Clean CCS EBIT 1, in EUR mn Exploration and Production 3,407 +31% Production increase to 303 kboe/d (2011: 288): Romania and Austria stable, Libya up 2,530 Gas and Power (23)% Solid result…
  6. January December and Q4 2012 Results – OMV – slide 6
    Solid financial basis for growth 2012, in EUR bn 4 NWC Group CAPEX 2012: EUR Debt 2.4 bn thereof 66% in E&P reduction EUR 690 mn gross working E&P Dividend capital reduction Gearing ratio down from E&P 34% to 26% G&P G&P…
  7. January December and Q4 2012 Results – OMV – slide 7
    Focused upstream activities North Sea Black Sea Core & Caspian countries New Zealand & Australia North Africa Middle Exploration only East Exploration and production 7 OMV Group, Results January December and Q4…
  8. January December and Q4 2012 Results – OMV – slide 8
    Grow Upstream to 350 kboe/d OMV production, in kboe/d 350 2 2/3 of CAPEX in E&P 303 Doubled project pipeline within one year 126 Doubled exploration and appraisal expenditures within three years 61% exploration success rate…
  9. January December and Q4 2012 Results – OMV – slide 9
    OMV Aktiengesellschaft Results Q4/12 David C. Davies, Deputy Chairman of the Executive Board and CFO February 21, 2013 Move & More.
  10. January December and Q4 2012 Results – OMV – slide 10
    Q4/12 Highlights Clean CCS EBIT in EUR mn 1 Production at 301 kboe/d Higher exploration expenses +30% 956 Spread between long-term oil-linked gas supply and hub-priced sales 737 USD 4% stronger vs. EUR 698 Average Brent oil price…
  11. January December and Q4 2012 Results – OMV – slide 11
    Economic environment Oil price and EUR/USD Gas prices in EUR/MWh OMV indicator refining margin in USD/bbl 120 110 1.50 35 5.5 109 110 30 5.0 100 30 28 1.44 4.5 4.03 90 25 4.0 80 27 3.5 70 1.38 24 1.35 20 3.0 60 50 15 2.5…
  12. January December and Q4 2012 Results – OMV – slide 12
    Results in Q4/12 Clean CCS net income attributable in EUR mn 1 Q4/12 Q4/11 to stockholders in EUR mn 1 EBIT 791 539 47% Financial result (104) (41) 152% Taxes (284) (132) 115% +19% 393 Effective tax rate 41% 27% 56% 330 Net…
  13. January December and Q4 2012 Results – OMV – slide 13
    Cash flow 2012 in EUR mn 1 2012 2011 in EUR mn Net income 1,790 1,588 13% (251) 237 Depreciation and 2,036 1,626 25% amortization Other (251) (168) 49% 2,036 (2,279) Sources of funds 3,576 3,046 17% Change in net working 1,790…
  14. January December and Q4 2012 Results – OMV – slide 14
    CAPEX and EBITD 2012 Key investments in 2012 in EUR mn 5,137 Petrom drilling and workovers Acquisitions of Aasta Hansteen and Edvard Grieg in Norway Schiehallion redevelopment in UK 4,059 Power plants Brazi and Samsun 2,426 Etzel…
  15. January December and Q4 2012 Results – OMV – slide 15
    Special items and CCS effect Q4/12 in EUR mn 1 Q4/12 Q4/11 in EUR mn Clean CCS EBIT 956 737 956 (37) (18) CCS gains/(losses) (37) (32) (45) 85 (128) 791 (22) Clean EBIT 919 705 Personnel related costs (18) (16) Unscheduled…
  16. January December and Q4 2012 Results – OMV – slide 16
    Exploration and Production Clean EBIT in EUR mn Q4/12 vs. Q3/12 Q4/12 vs. Q4/111 698 57 (3) (70) 617 (1) 28 255 (117) 698 553 77 Q3/12 Realization Volume Exploration Other Q4/12 Q4/11 Realization Volume Exploration Other Q4/12…
  17. January December and Q4 2012 Results – OMV – slide 17
    Exploration and Production Key Performance Indicators Hydrocarbon production (1,000 boe/d) Q4/12 vs. Q3/12 299 305 309 301 Production down by 3% 289 Workovers and planned Oil and 143 157 164 168 159 maintenance in New Zealand NGL…
  18. January December and Q4 2012 Results – OMV – slide 18
    Exploration and Production Petrom group Hydrocarbon production (1,000 boe/d) Q4/12 vs. Q3/12 186 184 182 182 183 Clean EBIT of EUR 294 mn down by 5%, mainly due to 90 90 89 88 88 Oil and NGL higher exploration costs (3D seismic…
  19. January December and Q4 2012 Results – OMV – slide 19
    Gas and Power Clean EBIT in EUR mn Q4/12 vs. Q4/11 1 (79) 134 59 (3) 3 5 Q4/11 Supply, Gas logistics Power Other Q4/12 marketing and trading SMT: Negative EconGas contribution; Q4/11 reflected price revision Gas…
  20. January December and Q4 2012 Results – OMV – slide 20
    Gas and Power Key Performance Indicators Gas sales volumes in TWh Q4/12 vs. Q4/11 129 119 Gas sales volumes up by 40% 100 92 89 due to trading High spread between contracted oil- linked gas prices and spot prices Petrom sales…
  21. January December and Q4 2012 Results – OMV – slide 21
    Refining and Marketing Clean CCS EBIT in EUR mn Q4/12 vs. Q4/11 1 (4) (2) 65 145 85 Q4/11 Fuels Petrochemicals Marketing Q4/12 Fuels result was favored by higher refining margins Petrochemicals impacted by lower…
  22. January December and Q4 2012 Results – OMV – slide 22
    Refining and Marketing Key Performance Indicators Refining output in mn t Q4/12 vs. Q4/11 4.93 4.87 4.91 Slight decrease of refinery output 4.55 4.61 West Utilization increased to 94% East Marketing sales volumes declined 4.03 4.19…
  23. January December and Q4 2012 Results – OMV – slide 23
    Key financing indicators Gearing ratio in % 1 34 31 28 28 26 Q4/11 Q1/12 Q2/12 Q3/12 Q4/12 Key financial principles Payout ratio and DPS 1, 2 Long-term gearing ratio target of 30% 60 1.20 1.50 1.10 1.00 1.00 Maintain a strong…
  24. January December and Q4 2012 Results – OMV – slide 24
    OMV Aktiengesellschaft Performance Program energize OMV update David C. Davies, Deputy Chairman of the Executive Board and CFO February 21, 2013 Move & More.
  25. January December and Q4 2012 Results – OMV – slide 25
    energize OMV 2% points ROACE increase in 2014 confirmed and major initiatives on track ROACE impact Date of Status percentage points finalization end 2012 Stabilize production in Austria and 2014 Romania Up- Accelerate production…
  26. January December and Q4 2012 Results – OMV – slide 26
    Expected ROACE impact in 2014 Impact of energize OMV on ROACE in 2014 (in % points) Already achieved in 2012: Target 2% First commingling successes 0.7% to be realized 2013 (additional 600 boe/d achieved in 2012) in 2014 0.5%…
  27. January December and Q4 2012 Results – OMV – slide 27
    Upstream Key Initiatives 2012 Stabilize production in Romania and Accelerate production growth in Ongoing development and Austria Tunisia and Pakistan operational excellence in rest of world Facilities debottlenecked Accelerate South…
  28. January December and Q4 2012 Results – OMV – slide 28
    Downstream Key Initiatives 2012 Reduce working capital Optimize marketing Improve refining Reduce G&P costs Implementation of Sale of plots and low Integration and Cost reduction in G&P factoring contributed performing stations…
  29. January December and Q4 2012 Results – OMV – slide 29
    OMV Aktiengesellschaft Exploration and Production Jaap Huijskes, Executive Board member responsible for E&P February 21, 2013 Move & More.
  30. January December and Q4 2012 Results – OMV – slide 30
    350 kboe/d and more 350 Stabilized production in mature core 350 kboe/d in 2016 Exploration delivers Securing a sustainable resource base Strong financial performance 30 OMV Group, Results January December and Q4 2012
  31. January December and Q4 2012 Results – OMV – slide 31
    Stabilize production in mature core Reduced rate of decline Production in Romania and Austria, kboe/d Highest ultimate oil recovery rates (60%) CAGR, percent per year State-of-the-art oil recovery technologies -3% Production share…
  32. January December and Q4 2012 Results – OMV – slide 32
    Grow Upstream to 350 kboe/d and more Project pipeline doubled OMV production mn boe kboe/d Under appraisal Under development 350 900 303 450 430 430 150 125 450 280 September 2011 Q4/2012 2004 1 2012 2016 2021 (Capital…
  33. January December and Q4 2012 Results – OMV – slide 33
    Project pipeline doubled: 0.9 billion boe New ventures Exploration Appraisal Development Execution Caspian KRI 1 Domino (Black Sea) FRDs (Romania) FRDs (Romania) Middle East Black Sea FRDs (AT+ RO) FRDs (Austria) Mehar (Pakistan)…
  34. January December and Q4 2012 Results – OMV – slide 34
    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…
  35. January December and Q4 2012 Results – OMV – slide 35
    Major projects under appraisal New ventures Exploration Appraisal Development Execution Production Cumulative Working Project Country Type Operated start production interest primary year mn boe % STOD 1 Oil 2012 2 n/a 50.0 OP…
  36. January December and Q4 2012 Results – OMV – slide 36
    Exploration 2012 Exploration Costs / Production 2011, USD/boe Doubled exploration expenditures Hess 9.6 Murphy Oil 8.6 Marathon Oil 7.8 Apache 6.5 Domino discovery in Black Sea; Repsol 6.3 nearby acreage secured Anadarko 6.0…
  37. January December and Q4 2012 Results – OMV – slide 37
    Exploration strategy delivering Discovered technical resources, mn boe x3 406 61% success rate 2 116 2009 2012 More high impact exploration Unit finding costs 1, USD/boe (higher risk, higher reward) 4.0 -40% 2.4 Higher…
  38. January December and Q4 2012 Results – OMV – slide 38
    Up to 14 high impact wells in 2013/14 New ventures Exploration Appraisal Development Execution 2-year drilling program Spud Working Well Country Basin/Block Type 2 Operated wells date interest Bnna Barents Sea E Q2/13 20% NO n…
  39. January December and Q4 2012 Results – OMV – slide 39
    2012: 2P RRR at 158% Proved Reserves/Production 2011, years Reserves Replacement Ratio improving ExxonMobil 15 Proved (1P) RRR Proved + Probable (2P) RRR BG Group 14 Percent, 3 year average Percent, 1 year BP 14 Total 13 Eni 12…
  40. January December and Q4 2012 Results – OMV – slide 40
    Strong financial performance Production costs, in USD/boe CAGR 2008-11 OMV Peer median 16 4.4% 14 12 Strong cost management 10 -2.7% 1 8 2008 09 10 11 2012 NOPAT 2 per barrel, in USD/boe CAGR 2005-11 24 OMV more profitable than…
  41. January December and Q4 2012 Results – OMV – slide 41
    Renewing the production portfolio 350 303 Production kboe/d 2012 2016 2021 5 Maturity Maturity, 30 35 37 New plays Percent of 35 International portfolio 60 Core production 70 28 Operatorship, 17 20 Operatorship Percent of 50…
  42. January December and Q4 2012 Results – OMV – slide 42
    OMV Aktiengesellschaft Outlook Gerhard Roiss, Chairman of the Executive Board and CEO February 21, 2013 Move & More.
  43. January December and Q4 2012 Results – OMV – slide 43
    Outlook 2013 Market environment Brent price: Above USD 100/bbl Gas market: More influenced by hub prices Romania: Gas price liberalization in implementation Refining margins: More modest levels than in 2012 Business outlook…
  44. January December and Q4 2012 Results – OMV – slide 44
    45 OMV Group, Results January December and Q4 2012

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