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Q2 2012 Earnings Call – Repsol S.A.

Repsol S.A. · Jul 26, 2012 · 21 slides

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Slides

  1. Q2 2012 Earnings Call – Repsol S.A. – slide 1
    Second Quarter 2012 Results WEBCAST CONFERENCE CALL July 26th, 2012 Miguel Martnez - CFO
  2. Q2 2012 Earnings Call – Repsol S.A. – slide 2
  3. Q2 2012 Earnings Call – Repsol S.A. – slide 3
    Agenda 1. YPF Update 2. Actions to strengthen the balance sheet 3. 2Q 2012 Results 4. Operational activity 4
  4. Q2 2012 Earnings Call – Repsol S.A. – slide 4
    Agenda 1. YPF Update 2. Actions to strengthen the balance sheet 3. 2Q 2012 Results 4. Operational activity 5
  5. Q2 2012 Earnings Call – Repsol S.A. – slide 5
    YPF Update Others 37,2% Shares subject to expropriation Repsol 51,0% (Petersen loan collateral) Most relevant legal steps: 5,4% Repsol (stake not subject to expropriation) As of July 2012 May 10th 2012: 6,4%…
  6. Q2 2012 Earnings Call – Repsol S.A. – slide 6
    YPF Update Accounting of the expropriation Billion Deconsolidation of YPF - 4.7 participation Write off of all loans - 1.4 related to Petersen group Registration of the value as Assets for Sale + 5.6 Deferred tax effect +…
  7. Q2 2012 Earnings Call – Repsol S.A. – slide 7
    Agenda 1. YPF Update 2. Actions to strengthen the balance sheet 3. 2Q 2012 Results 4. Operational activity 8
  8. Q2 2012 Earnings Call – Repsol S.A. – slide 8
    Actions to strengthen the Balance Sheet 2012 2013 2014 2015 2016 Divestments Chile LPG: 540 M Adjusted dividend policy (pay-out, scrip dividend) 63,64% Conversion of preferred shares Sep/Oct Working capital…
  9. Q2 2012 Earnings Call – Repsol S.A. – slide 9
    Liquidity position 8,0 4.4 x 6,0 4,0 2,0 0,0 Liquidity Short term maturities Cash and equivalents Undrawn credit lines ex YPF and ex Gas Natural 10
  10. Q2 2012 Earnings Call – Repsol S.A. – slide 10
    Agenda 1. YPF Update 2. Actions to strengthen the balance sheet 3. 2Q 2012 Results 4. Operational activity 11
  11. Q2 2012 Earnings Call – Repsol S.A. – slide 11
    2Q12 Results (ex YPF and ex Repsol YPF Gas) Million CCS Adjusted Operating Income CCS Adjusted Net Income 1000 600 +34% 800 500 +27% 400 600 300 936 400 481 699 200 380 200 100 0 0 2Q 11 2Q 12 2Q11 2Q12 12
  12. Q2 2012 Earnings Call – Repsol S.A. – slide 12
    2Q 2012 Upstream Adjusted Operating Income Million 800 700 600 (83) 59 (76) 500 268 400 55 300 518 200 293 100 0 2Q 11 Price effect Volume Exploration Exchange Depreciation 2Q 12 net of taxes Costs rate & Others 13
  13. Q2 2012 Earnings Call – Repsol S.A. – slide 13
    LNG Adjusted Operating Income Million 100 +47% 50 78 53 0 2Q 11 2Q 12 14
  14. Q2 2012 Earnings Call – Repsol S.A. – slide 14
    2Q 2012 Downstream Adjusted Operating Income Million 300 250 (27) 43 (27) 30 (32) 200 150 100 216 206 205 50 0 2Q 11 Refining Marketing Chemical LPG Others 2Q 12 15
  15. Q2 2012 Earnings Call – Repsol S.A. – slide 15
    Gas Natural Adjusted Operating Income Million 250 +23% 200 150 232 100 188 50 0 2Q 11 2Q 12 16
  16. Q2 2012 Earnings Call – Repsol S.A. – slide 16
    Agenda 1. YPF Update 2. Actions to strengthen the balance sheet 3. 2Q 2012 Results 4. Operational activity 17
  17. Q2 2012 Earnings Call – Repsol S.A. – slide 17
    Operational activity Upstream: Production kboed 400 +8% Main Factors: 300 Libya Bolivia 200 320 T&T 296 100 0 2Q 11 2Q 12 18
  18. Q2 2012 Earnings Call – Repsol S.A. – slide 18
    Operational activity Upstream: Main Development Projects Bolivia Per Margarita-Huacaya Kinteroni Phase I: Started up in May (Gas delivery: 9 Mm3/d) First gas 4Q 2012 as planned Phase II: start-up in 4Q 2013 Gross Production 5…
  19. Q2 2012 Earnings Call – Repsol S.A. – slide 19
    Operational activity Upstream: Exploratory activity Cuba: Dry well, no more activity in the area Cuba & Guyana Jaguar: Operations suspended for safety reasons Current operations Magadi 1 (Brazil), Sararenda (Bolivia), Sagari…
  20. Q2 2012 Earnings Call – Repsol S.A. – slide 20
    2012 Progress Successful delivery of development upstream projects. Robust upstream results performance. Asset disposal progress. Well accepted scrip dividend program 21
  21. Q2 2012 Earnings Call – Repsol S.A. – slide 21
    Second Quarter 2012 Results WEBCAST CONFERENCE CALL July 26th, 2012 Miguel Martnez - CFO

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