FUNDING STRATEGY MAY 28 2009 Extending success into new challenges Investor Relations
MAINTAIN A STRONG CAPITAL STRUCTURE AND CONTINUE EXECUTING TRANSFORMATIONAL PROJECTS DECISIONS TAKEN IMPACT 2009-13 CAPEX Rescheduling/redefining some projects, mainly in Refining & Marketing and Biodiesel 200 Mln businesses…
MAINTAIN A STRONG CAPITAL STRUCTURE AND CONTINUE EXECUTING TRANSFORMATIONAL PROJECTS (CONT.) DECISIONS TAKEN IMPACT 2009-13 SHAREHOLDERS Revise dividend policy to 0.20 per share 500 Mln Create a legal entity in the natural…
CASH ALLOCATION PRIORITIZATION TO STICK TO A STRONG CAPITAL STRUCTURE AVOIDED NET CASH OUTFLOW (2009-13) Capex cut up-front and focused in first 3 years New financing scheme through project financing, which significantly…
OPTIMIZATION WILL REDUCE CAPEX BY 0.9 BLN CAPEX (2009-13) G&P Bln R&M E&P All transformational 5.2 projects being executed 1.1 4.3 0.4 E&P projects with no changes 2.2 2.0 Growth pattern maintained despite capex…
DOUBLE DIGIT GROWTH MANTAINED EBITDA CAGR (2008-13) 15% Impact on EBITDA CAGR 12% 2008-13 of around 3 p.p. No relevant impact on Net Profit due to equity method consolidation of power projects Previous New Business…
FUNDING IN PLACE TO SUPPORT TRANSFORMATIONAL PROJECTS CAPEX 2009 capex below 1 Bln 1 LIQUIDITY Liquidity position of 1.7 Bln FUNDING NEEDS Decisions taken to avoid net cash outflow of 1.2 Bln CAPITAL STRUCTURE Maintain a…
FINANCING STRATEGY MAY 28 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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