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Q1 2014 Earnings Conference Call and Webcast – MPLX Lp

MPLX Lp · May 1, 2014 · 11 slides

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Slides

  1. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 1
    First Quarter 2014 Earnings Conference Call and Webcast May 1, 2014 1
  2. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 2
    Highlights Increased distribution to 0.3275 per unit a 4.8 percent over fourth- quarter 2013 and 20.2 percent over first-quarter 2013 Reported 37.7 million of distributable cash flow and adjusted EBITDA of 43.8 million Acquired…
  3. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 3
    Net Income 1Q 2014 vs. 1Q 2013 Variance Analysis 70 60 7.1 (2.0) 0.9 1.7 (2.4) (1.5) 55.7 (21.5) 16.6 50 40 35.3 34.2 MM 30 20 10 0 1Q 2013 Deferred Tariffs Volumes Other Cost of G&A Other 1Q 2014 MPC 1Q 2014 (100%…
  4. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 4
    MPLX Adjusted EBITDA and Distributable Cash Flow (MM) 1Q 2014 1Q 2013 Adjusted EBITDA 69.3 47.4 Less: Adjusted EBITDA attributable to MPC-retained interest 25.5 22.3 Adjusted EBITDA attributable to MPLX LP 43.8 25.1 Plus: Current…
  5. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 5
    Financial Performance Adjusted EBITDA* 43.8 45 30.5 28.9 35 26.7 25.1 25 18.2 MM 15 5 -5 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 Distributable Cash Flow* 37.7 40 31.1 30 28.0 27.2 28.3 MM 20 16.7 10 0 4Q12 1Q13 2Q13…
  6. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 6
    MPLX Strong Financial Flexibility to Manage and Grow Asset Base As of (MM except ratio data) 3/31/14 Cash and cash equivalents 40.6 Total assets 1,193.7 Long-term debt* 280.4 Total equity 821.1 Consolidated total debt to…
  7. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 7
    Distribution Growth per Unit IPO 1st drop 2nd drop 10/31/2012 5/1/2013 3/1/2014 100 MM 310 MM 0.32 0.30 0.28 /Unit 0.3275 0.26 0.3125 0.2975 0.24 0.2850 0.2625* 0.2725 (MQD) 0.22 0.20 4Q12 1Q13 2Q13 3Q13 4Q13…
  8. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 8
    Appendix 9
  9. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 9
    MPLX LP Adjusted EBITDA and Distributable Cash Flow Reconciliation from Net Income (MM) 1Q 2014 1Q 2013 Net income 55.7 35.3 Less: Net income attributable to MPC-retained interest 21.5 17.7 Net income attributable to MPLX LP 34.2…
  10. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 10
    MPLX Deficiency Payment Effect Example for illustrative purposes only Quarter Quarter Quarter Quarter Quarter Quarter Quarter (MM) 1 2 3 4 5 6 7 Quarterly deficiency payment 2 5 3 5 - - - Use or expiration of credit (on or before) -…
  11. Q1 2014 Earnings Conference Call and Webcast – MPLX Lp – slide 11
    12

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