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Q3 Results – OMV

OMV · Nov 7, 2012 · 31 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. Q3 Results – OMV – slide 1
    OMV Aktiengesellschaft OMV Results Q3/12 David C. Davies, Deputy Chairman of the Executive Board and CFO Hans-Peter Floren, Executive Board member responsible for G&P November 7, 2012 Move & More.
  2. Q3 Results – OMV – slide 2
    Q3/12 Highlights Clean CCS EBIT in EUR mn 1 Production at 309 kboe/d Higher exploration expenses 786 +34% USD 12% stronger vs EUR Average Brent oil price at USD 109.50/bbl 587 OMV indicator refining margin more than 617 tripled…
  3. Q3 Results – OMV – slide 3
    Economic environment Oil price and EUR/USD Gas prices in EUR/MWh OMV indicator refining margin in USD/bbl 5.28 120 113 1.50 35 5.5 110 110 31 5.0 100 30 4.5 1.41 1.44 25 90 4.0 25 80 3.5 26 70 1.38 20 24 3.0 60 15 2.5 50…
  4. Q3 Results – OMV – slide 4
    Results in Q3/12 Clean CCS net income attributable in EUR mn 1 Q3/12 Q3/11 to stockholders in EUR mn 1 EBIT 779 569 37% Financial result (106) (71) 50% Taxes (272) (136) 99% +34% 317 Effective tax rate 40% 27% 47% Net income 401…
  5. Q3 Results – OMV – slide 5
    Cash flow 9m/12 in EUR mn 1 9m/12 9m/11 in EUR mn Net income 1,387 1,223 13% (288) 121 Depreciation and 1,549 1,208 28% amortization 1,549 Other (288) (153) 89% (1,513) Sources of funds 2,648 2,277 16% 1,387 Change in net…
  6. Q3 Results – OMV – slide 6
    CAPEX and EBITD 9m/12 Key investments in 9m/12 in EUR mn 3,861 Petrom drilling and workovers Exploration (e.g. Neptun, Zidane, Bina Bawi) Power plants Brazi and Samsun 3,017 Etzel (capitalized caverns lease fee) Petrobrazi…
  7. Q3 Results – OMV – slide 7
    Special items Q3/12 in EUR mn 1 Q3/12 Q3/11 in EUR mn Clean CCS EBIT 786 587 (2) CCS gains/(losses) 30 (12) (15) Clean EBIT 817 576 30 6 Personnel related costs (2) (13) (26) Unscheduled depreciation (15) (4) 786 Asset disposals…
  8. Q3 Results – OMV – slide 8
    Exploration and Production Clean EBIT in EUR mn Q3/12 vs. Q2/12 Q3/12 vs. Q3/11 1 743 23 (15) (122) (112) 617 (13) 257 (79) 617 482 69 Q2/12 Realization Volume Exploration Other Q3/12 Q3/11 Realization Volume Exploration…
  9. Q3 Results – OMV – slide 9
    Exploration and Production Key Performance Indicators Hydrocarbon production (1,000 boe/d) Q3/12 vs. Q2/12 283 289 299 305 309 Production up by 1% Oil and Production restarted in Yemen 136 143 157 164 168 NGL (5 kbbl/d) Higher…
  10. Q3 Results – OMV – slide 10
    Exploration and Production Petrom group Hydrocarbon production (1,000 boe/d) Q3/12 vs. Q2/12 184 186 184 182 182 Clean EBIT up by 5%, Oil and mainly due to 89 90 90 89 88 NGL stronger USD vs. EUR Gas slightly higher sales volumes…
  11. Q3 Results – OMV – slide 11
    E&P: Exploration activities Update Norway Romania Bonna-1 pilot well drilled; full Neptun deep block: Domino-1: 1.5-3 tcf exploration well will be drilled in estimated technical resources; appraisal 2013 options being evaluated; new…
  12. Q3 Results – OMV – slide 12
    E&P: Project activities Update Norway Romania Edvard Grieg: Third Totea deep development: First appraisal well acquisition within 12 perforated and in testing, second appraisal well months spudded in August and drilling in progress…
  13. Q3 Results – OMV – slide 13
    Portfolio renewal overall 0.9 billion boe in project pipeline Q3/2012 (Q2/2011) New ventures Exploration Appraisal Field development New production Caspian Sea Black Sea Bina Bawi-3, KRI Schiehallion FPSO Cherouq CPF, Tunisia…
  14. Q3 Results – OMV – slide 14
    Gas and Power Clean EBIT in EUR mn Q3/12 vs. Q3/11 1 1 4 7 6 (10) 5 Q3/11 Supply, Gas logistics Power Other Q3/12 marketing and trading Negative EconGas contribution only partly offset by better Petrom gas business…
  15. Q3 Results – OMV – slide 15
    Gas and Power Key Performance Indicators Gas sales volumes in TWh Q3/12 vs. Q3/11 119 100 Gas sales volumes up by 87% due 92 89 to trading 54 Increase in spread between oil- linked gas prices and spot prices Petrom gas sales…
  16. Q3 Results – OMV – slide 16
    Refining and Marketing Clean CCS EBIT in EUR mn Q3/12 vs. Q3/11 1 (23) (15) 152 243 129 Q3/11 Fuels Petrochemicals Marketing Q3/12 Fuels result was favored by higher refining margins mainly due to very high gasoline…
  17. Q3 Results – OMV – slide 17
    Refining and Marketing Key Performance Indicators Refining output in mn t Q3/12 vs. Q3/11 4.94 4.93 4.87 4.55 4.61 Lower Petrom refining output West East mainly due to gradual restart of 4.12 4.03 Petrobrazi 3.73 4.02 4.19 High…
  18. Q3 Results – OMV – slide 18
    Key financing indicators Gearing ratio in % 1 33 34 31 28 28 Q3/11 Q4/11 Q1/12 Q2/12 Q3/12 Key financial principles Payout ratio in % 1 Long-term gearing ratio target of 30% 52 Maintain a strong investment grade rating 32 32…
  19. Q3 Results – OMV – slide 19
    Outlook 2012 Market environment Brent price expected to remain above USD 100/bbl for the remainder of 2012 Gas margin environment to remain challenging Recovery of refining and marketing margins broadly continued into Q4/12, however,…
  20. Q3 Results – OMV – slide 20
    OMV Aktiengesellschaft Gas and Power Strategy implementation update Hans-Peter Floren, Executive Board member responsible for G&P Move & More.
  21. Q3 Results – OMV – slide 21
    Implementation of the strategic priorities presented in September 2011 is progressing well G&P strategy 2011 OMV as integrated gas and power player along Nabucco Progress on key priorities for G&P Raise performance short-term (2014)…
  22. Q3 Results – OMV – slide 22
    Changing gas market environment and new equity gas options triggered a reassessment of the G&P strategy Traditional gas midstream 1 OMV in good position to benefit from model heavily under pressure new equity gas and attractive…
  23. Q3 Results – OMV – slide 23
    A EU gas market changed fundamentally market will likely continue to be oversupplied Range for contracted supply volumes incl. indigenous production EU 27+Turkey, bcm OMV expected demand forecast range Full demand forecast range High…
  24. Q3 Results – OMV – slide 24
    B Oversupply has led to decoupling of hub markets from long-term oil-indexed supply EUR/MWh Border contract tracker (mainly oil-indexed) 1 NCG Increasing gap Forecast uncertain between oil-indexed 35 LTC prices and spot prices…
  25. Q3 Results – OMV – slide 25
    C OMV equity gas position likely to grow significantly Equity gas volumes of OMV are expected to increase significantly Clear role of G&P Black Sea Generate additional value compared to E&P direct sales by creating access to…
  26. Q3 Results – OMV – slide 26
    D With SEE and Turkey OMV is active in Europes most attractive markets Nabucco West TANAP South Caucasus Pipeline Gas demand by submarket bcma Stagnating demand Growing demand SEE: Moderate 97 92 growth (1.8% p.a.2) avg.…
  27. Q3 Results – OMV – slide 27
    E OMV holds a position of strength in its core countries Total market est., 2012, percent Position of OMV OMV Remaining market shares Strong current equity gas position (5 bcm) 34 Growth potential: Domino and potentially shale…
  28. Q3 Results – OMV – slide 28
    OMV is building gas positions in two currently very different market types West of Baumgarten (WoB) East of Baumgarten (EoB) Current status Current status Highly liquid No liquid hubs markets Limited market High market…
  29. Q3 Results – OMV – slide 29
    Nabucco connecting OMVs core markets Status Transit pipelines to Nabucco West concept (developed European markets by OMV) welcomed by Shah Deniz II (SDII) consortium Available gas: 10 bcm from SDII Binding, conditional Nabucco…
  30. Q3 Results – OMV – slide 30
    G&P business model Regions Austria & around Romania Turkey Central portfolio optimization Integrated gas - Supply OMV G&P is Equity gas Long-term (AUT, ROM, UK) contracts covering the whole Short-term (RUS, NOR) purchases…
  31. Q3 Results – OMV – slide 31
    32 OMV Group, Results Q3/12

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