FIRST QUARTER 2009 RESULTS MAY 14 2009 Manuel Ferreira De Oliveira, CEO Extending success into new challenges Investor Relations
HIGHLIGHTS First Quarter 2009 Results Investor Relations
FIRST QUARTER 2009 RESULTS HIGHLIGHTS EXPLORATION & Performance hit by lower crude price PRODUCTION REFINING & Sines refinery incident with a negative impact of 57 Mln in adjusted MARKETING EBITDA GAS & Economic…
NET PROFIT RCA OF 49 MLN IMPACTED BY SINES REFINERY INCIDENT Profit & Loss Economic landscape Mln 1Q09 1Q08 YoY 4Q08 QoQ shaping the demand side downwards Turnover 2,927 3,493 (16%) 3,579 (18%) EBITDA 151 234 (35%) 244 (38%)…
IBERIAN ACQUISITIONS UNDERPINNING SALES TO DIRECT CLIENTS Maintenance works and OPEC cuts KEY OPERATING DATA Crude processed 1Q09 1Q08 YoY 4Q08 QoQ significantly impacted by Working interest production kbbl/d 13.3 13.8 (4%)…
BUSINESS OVERVIEW First Quarter 2009 Results Investor Relations
E&P PERFORMANCE IMPACTED BY LOWER CRUDE PRICE MAIN DATA E&P 1Q09 1Q08 YoY 4Q08 QoQ Working interest production kbbl/d 13.3 13.8 (4%) 15.5 (14%) Lower working interest Net entitlement production kbbl/d 8.4 9.9 (15%) 9.7 (13%)…
UNEXPECTED INCIDENT AT SINES REFINERY INFLUENCED RESULTS Sines refinery overview Incident On January 17, a fire occurred at the utilities plant of Sines refinery Complete shutdown until February 24, and FCC and alkylation units…
SINES REFINERY INCIDENT HAMPERED BETTER RESULTS MAIN DATA R&M 1Q09 1Q08 YoY 4Q08 QoQ Galp Energias refining margin and level of crude Galp Energia refining margin /bbl 2.8 3.0 (8%) 5.8 (51%) processed impacted by Spread over…
WEAKER DEMAND DROVE VOLUMES DOWN MAIN DATA G&P Strong hydro hampered 1Q09 1Q08 YoY 4Q08 QoQ electrical segment sales NG supply total sales volumes M m3 1,075 1,471 (27%) 1,225 (12%) Liberalized markets sales volumes M m3 490…
FINANCIAL OVERVIEW First Quarter 2009 Results Investor Relations
NET PROFIT RCA OF 49 MLN IMPACTED BY REFINERY INCIDENT Profit & Loss Lower crude price Mln 1Q09 1Q08 YoY 4Q08 QoQ Turnover 2,927 3,493 (16%) 3,579 (18%) Lower NG volumes and depressed gas supply EBITDA 151 234 (35%) 244…
R&M TRANSFORMATIONAL PROJECT RESPONSIBLE FOR THE MAJORITY OF CAPEX CAPEX E&P capex conducted to G&P Mln operations in Block 14, R&M namely Tmbua-Lndana, E&P and Brazil onshore and 99 96 offshore Conversion refining project…
CAPITAL STRUCTURE SHAPED BY INVESTMENT PLAN EXECUTION CONSOLIDATED BALANCE SHEET One-off events at payables impacted net Mln Mar. 2009 Dec. 2008 Change working capital: Fixed assets 3,698 3,881 (183) 195 Mln related to…
INTEREST RATE RISK HEDGED BY HIGHER FIXED RATE WEIGHT Debt structure as of March 2009 56% 71% Net debt totalled 2,143 Mln 44% 29% Floating Fixed Short-term M/L-term Average M/L-term debt M/L-term M/L-term maturity of…
OUTLOOK EXPLORATION & 2Q09 production to continue at current levels due to OPEC cut and Tmbua- PRODUCTION Lndana field to start-up in late 3Q09 REFINING & Sines refinery operating at normal conditions MARKETING GAS &…
FIRST QUARTER 2009 RESULTS MAY 14 2009 Tiago Villas-Boas Investor Relations Officer tiagovbgalpenergia.com T: +351 21 724 08 66 Extending success into new challenges www.galpenergia.com F: +351 21 724 29 65
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