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FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd.

Idemitsu Kosan Co.,Ltd. · May 7, 2015 · 49 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. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 1
    Presentation on Results for FY 2014 Idemitsu Kosan Co., Ltd. May 7, 2015
  2. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 2
    Table of Contents 1. FY 2014 Financials (1) Overview (2) Segment Information 2. Outlook for FY 2015 Performance (1) Overview (2) Segment Information 3. Progress on the Fourth Medium-term Management Plan 4. Reference Materials…
  3. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 3
    Crude Oil Price…
  4. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 4
    JPY/USD Exchange Rate (TTS)…
  5. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 5
    Overview
  6. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 6
    1. FY 2014 Financials
  7. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 7
    (1) Overview 1) Crude Oil / Exchange Rates (Units: /Bbl., /Ton, /) FY2013 FY2014 Change Crude Oil (DB FOB) 104.6 83.5 (21.1) (20.2%) Crude Oil (Brent) 108.7 99.0 (9.7) (8.9%) Naphtha Price (Customs) 939 817 (121) (12.9%) Exchange…
  8. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 8
    (2) Segment Information 1) Operating Income (Units: billions) FY2013 FY2014 Change Petroleum Products 16.8 (111.6) (128.5) (Excluding inventory impact) (24.2) 18.0 42.2 Petrochemical Products 36.5 (7.1) (43.6) (Excluding…
  9. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 9
    (2) Segment Information 2) Factors Causing Changes in Operating Income excluding inventory impact (YoY) (Units: billions) Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 7
  10. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 10
    2. Outlook for FY 2015 Performance
  11. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 11
    (1) Overview 1) Crude Oil / Exchange Rates (Units: /Bbl., /Ton, /) FY2014 Actual FY2015 Forecast Change Crude Oil (DB FOB) 83.5 60.0 (23.5) (28.1%) Crude Oil (Brent) 99.0 61.0 (38.0) (38.4%) Naphtha Price (Customs) 817 524 (293)…
  12. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 12
    (2) Segment Information 1) Operating Income (Units: billions) FY2014 Actual FY2015 Forecast Change Petroleum Products (111.6) 80.0 191.6 (Excluding inventory impact) 18.0 80.0 62.0 344.4% Petrochemical Products (7.1) 15.5 22.6…
  13. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 13
    (2) Segment Information 2) Factors Causing Changes in Operating Income excluding inventory impact (YoY) (Units: billions) Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 10
  14. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 14
    (3) Dividend Policy We consider the return of profits to shareholders as one of the most important management issues. We aim to provide stable dividends by achieving an optimal balance between strengthening existing operations,…
  15. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 15
    3. Progress on the Fourth Medium-term Management Plan
  16. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 16
    3.Progress on the Fourth Medium-term Management Plan (1) Management Indicators FY2014 FY2015 Unit billion Actual Medium-term Plan Forecast Change Y to Y Net Sales 4,629.7 4,640.0 4,350.0 (290.0) (279.7) Operating Income* (93.5) 150.0…
  17. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 17
    3.Progress on the Fourth Medium-term Management Plan (2) Progress on Challenges Faced in Each Strategic Category Track Record to Date Initiatives in FY 2015 Shut down Tokuyama Refinery, established structure Restructuring, secondary…
  18. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 18
    3.Progress on the Fourth Medium-term Management Plan (3) Status of Streamlining Efforts * Cost reduction targets and FY2013 FY2014 FY2015 FY2015 progress vs. FY2012 Initial Current Actual Actual Target Target Petroleum Products…
  19. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 19
    3.Progress on the Fourth Medium-term Management Plan (4) Investments (Units: billions) FY2013 FY2013 FY2013 FY2014 FY2015 -2015 -2015 Medium-term Plan Actual Actual Forecast Forecast vs. Plan Core 146.0 84.6 31.1 61.3 177.0 31.0…
  20. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 20
    4. References
  21. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 21
    Table of Contents 1. Financial Reporting 3. Sales and Production (1) FY 2014 Financials (vs. 2/3 forecasts) (1) Sales/Production Volume (2) Net Sales by Segment (2) Sales/Production Volume Forecast (3) Extraordinary Income/Loss 4.…
  22. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 22
    1. Financial Reporting (1) FY2014 Results (vs. 2/3 Forecasts) 1) Crude Oil / Exchange Rates (Units: /Bbl., /Ton, /) 2/3 Forecasts FY2014 Actual Change Crude Oil (DB FOB) 82.7 83.5 0.8 1.0% Crude Oil (Brent) 99.0 99.0 0.0 0.0%…
  23. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 23
    1. Financial Reporting (1) FY2014 Results (vs. 2/3 Forecasts) 3) Operating Profit by Segment (Units: billions) 2/3 Forecasts FY2014 Actual Change Petroleum Products (127.0) (111.6) 15.4 (Excluding inventory impact) 10.0 18.0 8.0…
  24. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 24
    1. Financial Reporting (2) 1. FY2014 Net Sales by Segment (Units: billions) FY2013 Actual FY2014 Actual Change Petroleum Products 4,074.7 3,693.9 (380.8) (9.3%) Petrochemical Products 675.1 639.0 (36.2) (5.4%) Resources 235.4…
  25. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 25
    1. Financial Reporting (2) 2. FY2015 Net Sales Forecast by Segment (Units: billions) FY2014 Actual FY2015 Forecast Change Petroleum Products 3,693.9 3,560.0 (133.9) (3.6%) Petrochemical Products 639.0 460.0 (179.0) (28.0%) Resources…
  26. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 26
    1. Financial Reporting (3) Extraordinary Income/Loss (Units: billions) FY2013 FY2014 Change Gain on sales of fixed assets 1.2 7.4 6.3 Gain on sales of Investment securities 2.8 - (2.8) Insurance proceeds 20.5 - (20.5) Other 2.8…
  27. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 27
    1. Financial Reporting (4) Breakdown of Impairment loss on fixed assets The resources business reported impairment losses of 65.8 billion, which accounted for most of the 70.5 billion in total impairment losses. The breakdown of…
  28. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 28
    1. Financial Reporting (5) Consolidated Balance Sheet (Units: billions) 3/31/2014 3/31/2015 Change 3/31/2014 3/31/2015 Change Cash and Deposits 161.5 113.0 (48.6) Payables 438.6 366.6 (72.0) Receivables 418.9 321.7 (97.2) Short-term…
  29. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 29
    1. Financial Reporting (6) Consolidated Statement of Cash Flows (Units: billions) FY2013 FY2014 Change CF from Operating Activities 50.1 172.9 122.8 Net Income before Tax Adjustments 81.1 (177.1) (258.1) Depreciation and…
  30. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 30
    2. Sensitivity (1) Impact of a US1/bbl. Increase in Crude Oil Prices on FY Earnings Increase in refinery Petroleum (0.4 billion) fuel costs, etc. Products Inventory impact 2.6 billion 2.2 billion Oil Exploration & Production 1.2…
  31. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 31
    3Sales and Production (1)1.Sales Volume (Domestic Fuel Oil Sales Volume: Non-consolidated) KL,% Units:Thousand KL,% FY 2013 FY 2014 Change Gasoline 8,496 8,199 (297) (3.5%) (Premium-Unleaded) 987 903 (84) (8.5%) (Regular-Unleaded)…
  32. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 32
    3Sales and Production 12.Sales Volume (Petrochemical Products: Non-consolidated) tons, %) (Units:Thousand tons, %) FY 2013 FY 2014 Change Petrochemical Products-Total 3,248 3,143 (105) (3.2%) (Basic Chemicals) 3,191 3,096 (96)…
  33. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 33
    3Sales and Production 14.Oil Exploration & Production Production Volume (including Gas) d BOED Units:Thousand BOED FY 2013 FY 2014 Change Norway 24.3 26.2 1.9 7.7% United Kingdom 2.8 2.5 (0.3) (10.9%) Vietnam 0.4 0.4 0.0 7.5%…
  34. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 34
    3Sales and Production 21.Sales Forecasts (Domestic Fuel Oil Sales Volume: Non-consolidated) KL,% Units:Thousand KL,% FY 2014 FY 2015(E) Change Gasoline 8,199 8,300 101 1.2% (Premium-Unleaded) 903 910 7 0.8% (Regular-Unleaded)…
  35. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 35
    3Sales and Production 22.Sales Forecasts (Petrochemical Products: Non-consolidated) s, % ) (Units:Thousand tons, % ) FY 2014 FY 2015(E) Change Petrochemical Products-Total 3,143 3,350 207 6.6% (Basic Chemicals) 3,096 3,300 204…
  36. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 36
    3Sales and Production 24.Oil Exploration & Production Production Volume Forecasts (including Gas) Units:Thousand BOED FY 2014 FY 2015(E) Change Norway 26.2 33.8 7.7 29.3% United Kingdom 2.5 4.8 2.4 96.4% Vietnam 0.4 0.5 0.1…
  37. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 37
    4Foreign Exchange 1USD Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 32
  38. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 38
    4Foreign Exchange 2Norwegian Krone Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 33
  39. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 39
    4Foreign Exchange 3Norwegian Krone Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 34
  40. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 40
    4Foreign Exchange 4Australian Dollar Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 35
  41. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 41
    4Foreign Exchange 5Australian Dollar Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 36
  42. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 42
    5Market Conditions 1Crude Oil Prices (Dubai and Brent) Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 37
  43. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 43
    5Market Conditions 2Gasoline, Crude Oil CIF (Prices and Spreads) Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 38
  44. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 44
    5Market Conditions 3Diesel Oil Crude Oil CIF (Prices and Spreads) Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 39
  45. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 45
    5Market Conditions 4Paraxylene, Naptha (Prices and Spreads) Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 40
  46. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 46
    5Market Conditions 5Styrene Monomer, Naptha (Prices and Spreads) Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 41
  47. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 47
    6Capacity Utilization at Refineries Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 42
  48. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 48
    7Number of Service Stations Copyright2015 Idemitsu Kosan Co.,Ltd. All Rights Reserved. 43
  49. FULL YEAR 2014 RESULTS – Idemitsu Kosan Co.,Ltd. – slide 49

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