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January Spectra Energytember and Q3 2013 Results – OMV

OMV · Nov 7, 2013 · 33 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 Spectra Energytember and Q3 2013 Results – OMV – slide 1
    OMV results January September and Q3 2013 David C. Davies, Deputy Chairman of the Executive Board and CFO November 7, 2013 OMV Aktiengesellschaft
  2. January Spectra Energytember and Q3 2013 Results – OMV – slide 2
    Q3/13 Highlights Clean CCS EBIT in EUR mn Significant asset acquisition from Statoil closed end of October 786 Average Brent oil price at USD 110/bbl 619 Production at 275 kboe/d 617 Lower sales volumes mainly in Libya and UK G&P…
  3. January Spectra Energytember and Q3 2013 Results – OMV – slide 3
    Economic environment Oil price and EUR/USD Gas prices in EUR/MWh OMV indicator refining margin in USD/bbl 140 35 5.3 1.4 5.5 1.32 31 135 5.0 30 28 130 1.25 1.3 26 4.5 125 4.0 25 27 120 1.2 3.5 115 110 110 20 3.0 110 1.1 14 15 2.5…
  4. January Spectra Energytember and Q3 2013 Results – OMV – slide 4
    Results in Q3/13 Clean CCS net income attributable in EUR mn Q3/13 Q3/12 to stockholders in EUR mn 1 EBIT 576 779 (26)% Financial result (66) (106) (38)% Taxes (134) (272) (50)% 317 Effective tax rate 26% 40% (35)% Net income 375 401…
  5. January Spectra Energytember and Q3 2013 Results – OMV – slide 5
    Special items and CCS effect Q3/13 in EUR mn Q3/13 Q3/12 in EUR mn Clean CCS EBIT 619 786 619 53 (6) (95) 576 CCS gains/(losses) 53 30 (0) 4 Clean EBIT 673 817 Personnel related costs (6) (2) Unscheduled depreciation (95) (15)…
  6. January Spectra Energytember and Q3 2013 Results – OMV – slide 6
    Cash flow 9m/13 in EUR mn 9m/13 9m/12 in EUR mn Net income 1,669 1,387 20% Depreciation and amortization 1,518 1,549 (2)% 1,073 Other (571) (288) 98% (571) (1,943) Sources of funds 2,616 2,648 (1)% 1,518 802 (625) Change in net…
  7. January Spectra Energytember and Q3 2013 Results – OMV – slide 7
    CAPEX and EBITD 9m/13 Key investments in Q3/13 in EUR mn 3,947 Petrom drilling, workovers and field redevelopments Field developments in Norway (Aasta Hansteen and Edvard Grieg) 2,683 Field redevelopments in Austria 1,949…
  8. January Spectra Energytember and Q3 2013 Results – OMV – slide 8
    Mid-term guidance Production Group CAPEX kboe/d Group investment program over the next three years will be funded by 400 EUR 3.9 bn operating cash flow and planned 320-340 divestments Dividend to increase in line with net income…
  9. January Spectra Energytember and Q3 2013 Results – OMV – slide 9
    Exploration and Production Clean EBIT in EUR mn Q3/13 vs. Q2/13 Q3/13 vs. Q3/12 617 49 597 76 (74) 578 578 19 (40) (1) (187) 100 Q2/13 Realization Volume Exploration Other Q3/13 Q3/12 Realization Volume Exploration Other Q3/13…
  10. January Spectra Energytember and Q3 2013 Results – OMV – slide 10
    Exploration and Production Key Performance Indicators Hydrocarbon production (1,000 boe/d) Q3/13 vs. Q2/13 309 301 302 297 275 Production down by 7% 168 159 163 159 142 Security problems and strikes in Libya and Yemen Maintenance…
  11. January Spectra Energytember and Q3 2013 Results – OMV – slide 11
    Exploration and Production Petrom group Hydrocarbon production (1,000 boe/d) Q3/13 vs. Q2/13 182 183 183 184 182 Clean EBIT of EUR 348 mn up by 17%, mainly due to 88 88 89 88 88 higher oil and gas prices higher oil sales 94 95 94…
  12. January Spectra Energytember and Q3 2013 Results – OMV – slide 12
    Gas and Power Clean EBIT in EUR mn Q3/13 vs. Q3/12 (4) 7 (3) (10) (15) (4) Q3/12 Supply, Gas logistics Power Other Q3/13 marketing and trading Negative gas margin and gas sales volumes decrease Weaker result…
  13. January Spectra Energytember and Q3 2013 Results – OMV – slide 13
    Gas and Power Key Performance Indicators Gas sales volumes in TWh Q3/13 vs. Q3/12 136 129 Total gas sales volumes down by 100 86 14% driven by reduced trading 85 activities Petrom gas sales volumes increased by 22% Q3/12…
  14. January Spectra Energytember and Q3 2013 Results – OMV – slide 14
    Refining and Marketing Clean CCS EBIT in EUR mn Q3/13 vs. Q3/12 (156) 243 8 4 98 Q3/12 Fuels Petrochemicals Marketing Q3/13 Considerably lower OMV indicator refining margin Better petrochemicals margins Good…
  15. January Spectra Energytember and Q3 2013 Results – OMV – slide 15
    Refining and Marketing Key Performance Indicators Refining utilization rate in % Q3/13 vs. Q3/12 97 94 93 95 92 94 90 87 86 76 Overall refining utilization rate remained high Marketing sales volumes decreased slightly Q3/12…
  16. January Spectra Energytember and Q3 2013 Results – OMV – slide 16
    Key financial indicators Gearing ratio in % 28 26 15 15 12 Key financial principles Q3/12 Q4/12 Q1/13 Q2/13 Q3/13 Long-term gearing ratio target of 30% Payout ratio and DPS 1.10 1.20 Maintain a strong investment grade rating…
  17. January Spectra Energytember and Q3 2013 Results – OMV – slide 17
    Outlook 2013 Market environment Brent price: Above USD 100/bbl on average European gas market: Hub prices increasingly determine market prices Refining margins: Lower levels than in 2012 Business outlook CAPEX: Around EUR 2.8 bn…
  18. January Spectra Energytember and Q3 2013 Results – OMV – slide 18
    Exploration and Production Jaap Huijskes, Executive Board member responsible for E&P OMV Aktiengesellschaft
  19. January Spectra Energytember and Q3 2013 Results – OMV – slide 19
    Acquisition of offshore assets in Norway and UK from Statoil Production: Shares of 2 assets in Norway Gullfaks (19%) producing Gudrun (24%) starting production in 2014 Gudrun Development: Increased share in 2 UK assets Gullfaks…
  20. January Spectra Energytember and Q3 2013 Results – OMV – slide 20
    E&P project update Q3/13 Further strengthened project pipeline to 1bn boe Zidane 500 mn boe under appraisal Rosebank FRDs in Romania filling the funnel Gudrun 580 mn boe under development FRD Tazlau Ph 2 FRD Istria Ph 2 Projects…
  21. January Spectra Energytember and Q3 2013 Results – OMV – slide 21
    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…
  22. January Spectra Energytember and Q3 2013 Results – OMV – slide 22
    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 Gas t.b.d. t.b.d. 36.0…
  23. January Spectra Energytember and Q3 2013 Results – OMV – slide 23
    Exploration update Q3/13 Seismic: Bulgaria: 7,800 km 3D seismic (60% finished) Wisting Central 2 Bonna Wisting Main Newly secured acreage: Cambo-5 Statoil acquisition exploration opportunities 1 Madagascar country entry Other…
  24. January Spectra Energytember and Q3 2013 Results – OMV – slide 24
    High impact wells 1 in 2013/14 Exploration and Production Exploration Working Well Country Basin/Block Type 2 Spud date Operated interest Apollo Atlantis Carnarvon Jupiter Palmerston-1 AU E H2/14 33% n NO Basin Apollo NO…
  25. January Spectra Energytember and Q3 2013 Results – OMV – slide 25
    Mid-term production guidance Production kboe/d 400 Production grows to 400 kboe/d in 2016 320-340 Organic portfolio (as of Sept. 2011) will deliver 350 kboe/d in 2016 Romania and Austria production kept flat at 200-210 kboe/d out…
  26. January Spectra Energytember and Q3 2013 Results – OMV – slide 26
    Gas and Power Hans-Peter Floren, Executive Board member responsible for G&P OMV Aktiengesellschaft
  27. January Spectra Energytember and Q3 2013 Results – OMV – slide 27
    European gas market environment expected to remain oversupplied EU 27 and Turkey: Contracted gas supply exceeds demand, bcm Forecast 2013 slightly above 2012 H1/13 demand up due to lower than average temperature Gas to power…
  28. January Spectra Energytember and Q3 2013 Results – OMV – slide 28
    Consequences of oversupplied markets EUR/MWh NCG NBP Zeebrugge CEGH Border contract tracker TTF PSV Long-term supply decoupled Hub prices across Europe Summer-winter spreads from oil-indexation converge fall substantially 35 35…
  29. January Spectra Energytember and Q3 2013 Results – OMV – slide 29
    Strong supply position essential in competitive market Equity gas Long-term contracts 1 Renegotiation of long-term gas Focus on equity gas: Significantly supply contracts increase equity gas share bcm Statoil Adjusted terms of…
  30. January Spectra Energytember and Q3 2013 Results – OMV – slide 30
    North Sea: Recent Statoil asset acquisition contributes to OMVs increasing integrated gas position in Europe Build up gas position First significant gas volumes 2013/14 due to recent Statoil asset acquisition Additional volumes…
  31. January Spectra Energytember and Q3 2013 Results – OMV – slide 31
    Gas to Power: Spark spreads affected by weak demand EUR/MWh Turkey: Low spark spreads driven by Short-term outlook expected to remain challenging weak power demand Moderate demand growth 23 18 Substantial capacity additions (4 GW…
  32. January Spectra Energytember and Q3 2013 Results – OMV – slide 32
    Integrated gas: G&P will focus on two main strategic priorities Best monetization of gas portfolio Future growth 1 potential Prepare for additional equity gas from North Sea and Black Sea and identify target markets and assets…
  33. January Spectra Energytember and Q3 2013 Results – OMV – slide 33
    OMV Aktiengesellschaft

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