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Q1 2012 Earnings Call – Repsol S.A.

Repsol S.A. · May 10, 2012 · 20 slides

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Slides

  1. Q1 2012 Earnings Call – Repsol S.A. – slide 1
    First Quarter 2012 Results WEBCAST CONFERENCE CALL May 10th, 2012 Miguel Martnez CFO
  2. Q1 2012 Earnings Call – Repsol S.A. – slide 2
    Agenda 1. YPF Update 2. Concerns Post YPF expropriation 3. 1Q 2012 Results 4. Operational activity 5. Strategic Plan pillars 2
  3. Q1 2012 Earnings Call – Repsol S.A. – slide 3
    Agenda 1. YPF Update 2. Concerns Post YPF expropriation 3. 1Q 2012 Results 4. Operational activity 5. Strategic Plan pillars 3
  4. Q1 2012 Earnings Call – Repsol S.A. – slide 4
    YPF Update Expropriation: Unlawful Discriminatory Contravenes privatization obligation 4.1 Bn Book value Maximum exposure: 5.7 Bn 1.6 Bn Petersen loan Compensation value 10.5 Bn USD (our stake) 4
  5. Q1 2012 Earnings Call – Repsol S.A. – slide 5
    Agenda 1. YPF Update 2. Concerns Post YPF expropriation 3. 1Q 2012 Results 4. Operational activity 5. Strategic Plan pillars 5
  6. Q1 2012 Earnings Call – Repsol S.A. – slide 6
    Concerns post YPF expropriation Rating Outlook Management committed to Investment Grade Rating Current debt / financial cost not affected Alternatives to enhance balance sheet Solid financial and liquidity position (ex YPF, ex Gas…
  7. Q1 2012 Earnings Call – Repsol S.A. – slide 7
    Liquidity position (ex YPF and ex Gas Natural) 8,0 3.7 x 6,0 4,0 2,0 0,0 Liquidity Short term Gross Debt Cash and equivalents Undrawn credit lines 7
  8. Q1 2012 Earnings Call – Repsol S.A. – slide 8
    Agenda 1. YPF Update 2. Concerns Post YPF expropriation 3. 1Q 2012 Results 4. Operational activity 5. Strategic Plan pillars 8
  9. Q1 2012 Earnings Call – Repsol S.A. – slide 9
    1Q12 Results (ex YPF and ex Repsol YPF Gas) Million CCS Adjusted Operating Income CCS Adjusted Net Income 1200 500 +4% +8% 1000 400 800 300 600 1081 456 474 1000 200 400 100 200 0 0 1Q 11 1Q 12 1Q11 1Q12 9
  10. Q1 2012 Earnings Call – Repsol S.A. – slide 10
    1Q 2012 Upstream Adjusted Operating Income Million 800 128 27 700 109 (24) (71) 600 500 400 659 300 490 200 100 0 1Q11 Price effect net Volume Exploration Exchange rate Depreciation & 1Q12 of taxes Costs…
  11. Q1 2012 Earnings Call – Repsol S.A. – slide 11
    LNG Adjusted Operating Income Million 200 150 100 158 115 50 0 1Q 11 1Q 12 11
  12. Q1 2012 Earnings Call – Repsol S.A. – slide 12
    1Q 2012 Downstream CCS Adjusted Operating Income Million 250 9 200 (20) 150 (76) 100 211 (42) 50 82 0 1Q11 Refining Marketing & Chemical Others 1Q12 Activity LPG Activity 12
  13. Q1 2012 Earnings Call – Repsol S.A. – slide 13
    Gas Natural Adjusted Operating Income Million 250 200 150 249 241 100 50 0 1Q 11 1Q 12 13
  14. Q1 2012 Earnings Call – Repsol S.A. – slide 14
    Agenda 1. YPF Update 2. Concerns Post YPF expropriation 3. 1Q 2012 Results 4. Operational activity 5. Strategic Plan pillars 14
  15. Q1 2012 Earnings Call – Repsol S.A. – slide 15
    Operational activity Upstream: Production kboed 400 Main Factors: 300 Libya 200 324 323 G&M 100 0 1Q11 1Q12 15
  16. Q1 2012 Earnings Call – Repsol S.A. – slide 16
    Operational activity Upstream: Main Development Projects Bolivia Per Brazil Margarita-Huacaya Kinteroni Sapinhoa (Formerly Guar) Start-up last week First gas 4Q 2012 as planned 4 Wells drilled an 2 on-going Ramping up to 9 Mm3/d…
  17. Q1 2012 Earnings Call – Repsol S.A. – slide 17
    Operational activity Upstream: Exploratory activity Brazil Appraisal work later in 2012 in Pao de Aucar (Campos 33 basin) (*) Alaska 2 wells drilled (Kachemach and Qugruk). Information provided under evaluation Cuba & Guyana…
  18. Q1 2012 Earnings Call – Repsol S.A. – slide 18
    Agenda 1. YPF Update 2. Concerns Post YPF expropriation 3. 1Q 2012 Results 4. Operational activity 5. Strategic Plan pillars 18
  19. Q1 2012 Earnings Call – Repsol S.A. – slide 19
    Strategic Plan pillars Upstream organic growth above sector average Enhanced profitability Rebalanced portfolio Self-financing plan / Strong balance sheet Competitive shareholder remuneration Compensation value of YPF…
  20. Q1 2012 Earnings Call – Repsol S.A. – slide 20
    First Quarter 2012 Results WEBCAST CONFERENCE CALL May 10th, 2012 Miguel Martnez CFO

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