Financial outlook Claudio De Marco Chief Financial Officer Capital Markets Day - March 6th 2012
Financial slack successfully achieved Capital allocation towards upstream Project delivery enhancing cash generation Committed to a sound capital structure New sustainable dividend policy Final remarks Appendix 2 Capital…
Solid foundations built over years of demanding capex Gearing evolution Downstream transformational 1,800 150% projects responsible for financial effort 1,200 High potential upstream projects being developed 600 Gearing level…
A cash in of 5.2 bln Galp Energias Brazilian portfolio Sinopec to hold 30% of Petrogal Brasil1, after the subscription of the capital increase Partnership with one of the largest energy groups worldwide Development of Brazilian…
Transaction executed in a challenging market environment Galp Energias Brazilian assets Financial environment deteriorated Several interested parties in the Basin projects % Galp Energia Operator deal, but few committed bidders…
Flexibility to manage extra-cash at the holding level Sinopec Brazilian transaction ending a period 4.8 bln of stretched balance sheet 10% to 20% of 4.8 bln to be 0.4 bln Petrogal Brasil1 retained to fund short-term capex…
Control and full consolidation maintained Petrogal Brasils Board of Directors to be appointed proportionally by Galp Energia and Sinopec Full consolidation of operations by Galp Energia Net profit at the holding level impacted by…
Financial slack successfully achieved Capital allocation towards upstream Project delivery enhancing cash generation Committed to a sound capital structure New sustainable dividend policy Final remarks Appendix 8 Capital…
Capital allocation reflects the Companys strategic path Upstream Downstream Reinforcing exploration budget to address Absorbing only maintenance capex new opportunities Developing world class projects Investing towards higher…
2012: a year of capital allocation shift towards upstream Capex by segment 2011 2012 2013 - 2016 1bln 1 - 1.2bln c.1.2bln/year E&P R&M G&P 10 Capital Markets Day - March 6th 2012
Strengthening and diversifying our exploration portfolio E&P capex 2012 exploration capex Brazil Mozambique 2011 2012 Exploration Development Angola Other and new ventures 11 Capital Markets Day - March 6th 2012
Financial slack successfully achieved Capital allocation towards upstream Project delivery enhancing cash generation Committed to a sound capital structure New sustainable dividend policy Final remarks Appendix 12 Capital…
Strong cash generation from projects already implemented Upstream Downstream Earnings growth by developing upstream Stable contribution from R&M business projects uplifted by upgrade project Oil price exposure increasing on cash…
Strategy path to be materialized in earnings from 2012 onwards Ebitda by segment 2011 2012 2016 0.8 Bln 0.9 1.1Bln CAGR1 25% E&P R&M G&P Ebitda growth supported by upstream production ramp up 1 CAGR 2011-2016 14…
Exposure to Iberian economic environment will decrease going forward Ebitda 2011 vs 2016 60%
Financial slack successfully achieved Capital allocation towards upstream Project delivery enhancing cash generation Committed to a sound capital structure New sustainable dividend policy Final remarks Appendix 16 Capital…
Free cash flow consistently increasing Cash flow profile Downstream assets cash flow positive 2012 onwards Brazil self-financed and cash flow positive after 2016 Current portfolio development fully funded 2011 2012E 2013E…
Sustainable and balanced capital structure going ahead Net debt to equity 119%…
Financial management to ensure a sound and flexible capital structure Building up Enabling new Mitigating Rewarding companys venture execution risk shareholders flexibility opportunities Start of a new growth era with a…
Financial slack successfully achieved Capital allocation towards upstream Project delivery enhancing cash generation Committed to a sound capital structure New sustainable dividend policy Final remarks Appendix 20 Capital…
Rewarding shareholders through a consistent growing dividend 0.32/ share 0.20/ share 2007-2008 2009-2011 2012E 2013E 2014E 2015E 2016E Dividend policy to be driven by an era of progressive earnings growth 21 Capital…
Financial slack successfully achieved Capital allocation towards upstream Project delivery enhancing cash generation Committed to a sound capital structure New sustainable dividend policy Final remarks Appendix 22 Capital…
Commitment to maintain a sound financial position is a key strategic foundation The start of a new growth era with a solid balance sheet Execution risk mitigated and enhanced flexibility in project development Cash flow from world…
Financial slack successfully achieved Capital allocation towards upstream Project delivery enhancing cash generation Committed to a sound capital structure New sustainable dividend policy Final remarks Appendix 24 Capital…
2012-2016 Business plan assumptions Mid-cycle assumptions 2010 2011 Average 2012-2016 Oil price /bbl 79.5 111 95 Benchmark refining margin /bbl1 2.66 1.33 2.41 EUR:USD 1.33 1.39 1.40 1 New post-upgrade benchmark refining…
Acronyms Number GWh Gi ga Wa tt hour Uni ted States dol l a r HSE Hea l th, Sa fety a nd Envi ronment % Percentage IPO Ini tia l Publ i c Offeri ng 2D Two di mens i ona l s ei s mi c Kboepd Thous a nd ba rrel s of oi l equi va l ent…
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