Skip to main content FIRST HALF 2007 RESULTS – Galp Energia Investor Presentation | Shale Experts
Loading...
Pm

FIRST HALF 2007 RESULTS – Galp Energia

Galp Energia · Aug 9, 2007 · 29 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. FIRST HALF 2007 RESULTS – Galp Energia – slide 1
    FIRST HALF 2007 RESULTS Lisbon, 9 August 2007
  2. FIRST HALF 2007 RESULTS – Galp Energia – slide 2
    ADJUSTED EPS INCREASED BY 71% TO 0.34 IFRS Adjusted H106 H107 % Ch. Million H106 H107 % Ch. 6,130 5,894 (3.9%) Sales 6,054 5,890 (3.0%) 615 627 2.0% EBITDA 404 481 19.2% 475 498 4.8% EBIT 264 360 36.4% 19 31 59.4% Income from…
  3. FIRST HALF 2007 RESULTS – Galp Energia – slide 3
    SIGNIFICANT INVENTORY EFFECT DUE TO INCREASE IN OIL PRICES H1 2007 EBITDA (M) H1 2007 Net Income (M) (142) (4) (118) 627 3 481 401 285 IFRS Inventory Non Adjusted IFRS Inventory Non Adjusted holding recurrent holding…
  4. FIRST HALF 2007 RESULTS – Galp Energia – slide 4
    PROFORMA ADJUSTED EBITDA INCREASED BY 36% E&P boosted due to block 14 sustained production and by higher crude prices R&M higher contribution driven by higher refining margins and larger marketing volumes Strong G&P performance driven…
  5. FIRST HALF 2007 RESULTS – Galp Energia – slide 5
    MARKET OVERVIEW
  6. FIRST HALF 2007 RESULTS – Galp Energia – slide 6
    STRONG GASOLINE CRACK DRIVEN BY STRONG DEMAND AND LOWER REFINING AVAILABILITY Rotterdam Cracking and Rotterdam Brent price (Usd/bbl) (Hydro + Aromatics)4 (Usd/bbl) 75 10 70 8 65 6 60 4 55 2 50 0 45 40 -2 Jan-06…
  7. FIRST HALF 2007 RESULTS – Galp Energia – slide 7
    OPPOSITE TRENDS IN THE OIL AND NATURAL GAS MARKET IN PORTUGAL Portuguese oil market affected by higher prices relatively to Spain due to tax effect Electrical natural gas consumption almost recovered despite stronger hydro this year…
  8. FIRST HALF 2007 RESULTS – Galp Energia – slide 8
    BUSINESS OVERVIEW
  9. FIRST HALF 2007 RESULTS – Galp Energia – slide 9
    STABLE E&P PRODUCTION UNTIL TOMBUA LNDANA START UP Production sustained by BBLT lighter crude production Lighter TL crude production offsetted decrease in heavy Kuito crude production Total Equity Production by Field (million…
  10. FIRST HALF 2007 RESULTS – Galp Energia – slide 10
    E&P DELIVERING GROWTH Strong EBIT qoq due to higher prices and subsequent operational leverage H1 07 EBIT already surpassed 2006 EBIT Proforma H1 06 EBIT affected by definition of accounting principles Adjusted EBIT (M) 285%1…
  11. FIRST HALF 2007 RESULTS – Galp Energia – slide 11
    GALP ENERGIA REFINING MARGIN UP 25% YOY Spread over benchmark of 1.7 Usd/bbl in first half of 2007 Premium to benchmark affected by lower utilization due to maintenance shutdown Galp Energia vs Benchmark Refining Margin…
  12. FIRST HALF 2007 RESULTS – Galp Energia – slide 12
    STRONGER BUSINESS PROFILE Increased Galp presence in Iberian market More valuable export product mix due to increase of gasoline export to the US Decrease in raw material processed due to maintenance shutdown Million tons H1 2006…
  13. FIRST HALF 2007 RESULTS – Galp Energia – slide 13
    SALES TO DIRECT CLIENTS SUPPORTED BY SPANISH OPERATIONS Sales to Galp Energia direct customers represented 65% of total raw materials processed Retail market share increasing in Portugal despite market decrease H1 2007 marketing…
  14. FIRST HALF 2007 RESULTS – Galp Energia – slide 14
    R&M EBIT BOOSTED BY Q2 REFINING MARGIN Reported EBIT positively impacted by inventory effect of 152 M Q2 adjusted EBIT almost double yoy, rose by 84% Adjusted EBIT up 55% yoy supported by higher marketing volumes and stronger…
  15. FIRST HALF 2007 RESULTS – Galp Energia – slide 15
    NATURAL GAS SALES UP BY 11% ON H1 2007 Consumption of power generators almost recovered despite strong hydro in Q1 Lower distribution and industrial volumes in Q2 due to seasonality effect, however offsetted by electrical and trading…
  16. FIRST HALF 2007 RESULTS – Galp Energia – slide 16
    PROFORMA EBIT UP BY 24% YOY Stable Q2 EBIT yoy despite unbundling effect due to higher volumes in electrical and trading that compensated usual seasonality of distribution activity during Q2 Proforma adjusted H1 EBIT up 24% driven by…
  17. FIRST HALF 2007 RESULTS – Galp Energia – slide 17
    FINANCIAL OVERVIEW
  18. FIRST HALF 2007 RESULTS – Galp Energia – slide 18
    ADJUSTED EPS INCREASED BY 71% TO 0.34 IFRS Adjusted H106 H107 % Ch. Million H106 H107 % Ch. 6,130 5,894 (3.9%) Sales 6,054 5,890 (3.0%) 615 627 2.0% EBITDA 404 481 19.2% 475 498 4.8% EBIT 264 360 36.4% 19 31 59.4% Income from…
  19. FIRST HALF 2007 RESULTS – Galp Energia – slide 19
    CONTROLLED COST STRUCTURE COGS down by 6% mainly due to lower crude and oil products prices Proforma supply and services increased 1%, despite stronger activity in E&P Proforma personnel costs decreased by 4% mainly due to corporate…
  20. FIRST HALF 2007 RESULTS – Galp Energia – slide 20
    E&P ACTIVITY RESPONSIBLE FOR 50% OF TOTAL CAPEX Development of Block 14 and exploration activities in Block 32 and Brazil Investment in refineries covering energy efficiency and environmental licensing Additional 370 kms of ng…
  21. FIRST HALF 2007 RESULTS – Galp Energia – slide 21
    NET DEBT IMPACTED BY DIVIDEND PAYMENT OF 252 M Balance Sheet Items (M) Change vs Change vs Dec. 2006 Mar. 2007 Jun. 2007 Dec. Mar. Fixed Assets 2,413 2,445 2,459 46 14 Strategic Stock 453 443 477 24 34 Other assets (liabilities)…
  22. FIRST HALF 2007 RESULTS – Galp Energia – slide 22
    FINAL REMARKS
  23. FIRST HALF 2007 RESULTS – Galp Energia – slide 23
    Q1 MAIN EVENTS E&P New oil discoveries in Block 32 and Block 14 Confirmation of Block BM-S-11 major discovery (Tupi) Agreement with the Portuguese State for oil exploration and production rights in Alentejos costs Approval of…
  24. FIRST HALF 2007 RESULTS – Galp Energia – slide 24
    Q2 MAIN EVENTS Start of appraisal well in Tupi Sul, 80 Km distant from Tupi E&P 2 commercial discoveries in Block 32: Louro-1 and Cominhos-1 Additions to portfolio: 4 blocks in Portugal, 5 blocks in Timor and 1 block in…
  25. FIRST HALF 2007 RESULTS – Galp Energia – slide 25
    SHORT TERM OUTLOOK E&P 7 wells to be executed in 2nd half of 2007 in blocks operated by Galp in onshore Brazil Conclusion of Tupi Sul appraisal well expected for the end of Q3 Definition with Petrobras of business plan for…
  26. FIRST HALF 2007 RESULTS – Galp Energia – slide 26
    GALP ENERGIA POSITIONED FOR GROWTH Adjusted EBITDA Proforma H1 06 Adjusted EBITDA H1 07 R&M 62% R&M 57% G&P G&P 26% 30% E&P E&P 8% 17% 354 M +36% 481 M Towards a more balanced portfolio Adjusted EBITDA proforma H1…
  27. FIRST HALF 2007 RESULTS – Galp Energia – slide 27
    GALP ENERGIA ORGANIC GROWTH DRIVERS Conversion Project 9 Oporto Cogeneration Facility 9 Oporto Cogeneration Facility 9 Wind Farms 9 Wind Farms 9 Strategic CCGT 2 9 CCGT 2 9 plan CCGT 1 9 CCGT 1 9 CCGT 1 9 under 9 9…
  28. FIRST HALF 2007 RESULTS – Galp Energia – slide 28
    1st Investor Day Lisbon, 22 October 2007 Save the date
  29. FIRST HALF 2007 RESULTS – Galp Energia – slide 29
    Investor Relations Tiago Villas-Boas Tel: +351 21 724 08 66 Fax: +351 21 724 29 65 E-mail: investor.relationsgalpenergia.com Website: www.galpenergia.com

From the store

Browse maps, data & reports in the Shale Experts store