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Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft

Gazprom Neft · May 19, 2015 · 22 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. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 1
    1Q 2015 IFRS FINANCIAL AND OPERATING RESULTS May 19, 2015, Saint-Petersburg
  2. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 2
    Agenda Highlights, Alexey Yankevich Financials Member of the Management Board, CFO Upstream Mikhail Zhechkov Head of Economics and Investment Department, Exploration and Production Division Downstream Vladimir Konstantinov…
  3. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 3
    Highlights 1Q 2015 Financial Performance: Revenue: RUB 328 bln (+2.6% Y-o-Y) EBITDA*: RUB 93 bln (+11.1% Y-o-Y) Net Income: RUB 39 bln (+3.5% Y-o-Y) Operational Progress in 1Q 2015 : Hydrocarbon production up 14.9% Y-o-Y…
  4. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 4
    Exploration and Production Major projects and acquisitions drive production growth Gazprom neft 5
  5. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 5
    Delivering on 2015 growth plans Major achievements in 1Q 2015: Plans for 2015: Legacy fields Increased hydrocarbon production 14.9% Achieve 10% hydrocarbon production Y-o-Y growth Y-o-Y Started production at Kulginskoye field (part…
  6. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 6
    Production growth advancing strategic objectives Average daily hydrocarbon production, Hydrocarbon production, MMtoe 000 toe/day *Joint operations: proportionally consolidated companies (Tomskneft, SPD) ** Joint Ventures:…
  7. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 7
    Major projects and acquisitions have driven hydrocarbon production growth Hydrocarbon production 1Q 2015 to 1Q 2014, MMtoe 14.9% Liquid hydrocarbon +0.78 MMtonnes Gas +1.58 MMtoe (Arcticgas) (Arcticgas) *JVs refer to…
  8. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 8
    The Y-o-Y increase in unit operating costs due to production intensification Brownfield OPEX reconciliation, RUB/toe +8% +5% +4% Note: The chart above takes into account the following projects: NNG, MN, Khantos, Vostok…
  9. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 9
    Developing new production cluster in Yamal-Nenets region Arcticgas Successful pilot commercial Launched third train of Launched Yaro- development of oil rim Samburgskoye gas Yakhinskoye gas (exceeded plan by an processing facility…
  10. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 10
    Novoport: Winter shipping and marine transport of crude 1 Tanker loading at CODAP February 2015, Mys Kamennyi: first winter shipment of (Mys Kamennyi) Novy Port crude Total seasonal shipments*: 7 tankers totaling 112,000 Tanker…
  11. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 11
    Downstream Optimizing crude & product mix, expanding premium channel sales Gazprom neft 12
  12. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 12
    Refinery modernization drives rising output of premium products Major achievements in 1Q 2015: Plans for 2015: Refining Refining throughput 10.4 MMTonnes Moscow: Startup of gas fractionation plant at Active construction phase of…
  13. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 13
    Adapting crude and product mix to economic and price environment Crude price and average netbacks, /bbl Crude mix, MMTonnes Brent Crude export Crude to CIS & Russia NIS Yaroslavl Refining netback Moscow Crude export…
  14. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 14
    Optimizing value added to crude via throughput and refining mix Refining throughput, MMTonnes Depth of refining, % 1Q15 vs. +1.5 75.6 74.1 1Q14 NIS NIS Yaroslavl Moscow Slavneft Omsk Moscow Light products yield, % 61.8…
  15. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 15
    Domestic and global expansion via premium channels Growth in premium sales Average throughput of RF service stations 17.8 1Q15 vs. 1Q14 tonnes/day Increased network to 1,825 (+16 vs. 1Q 2014) Increased revenue from non-fuel sales by…
  16. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 16
    Financials Continued growth and operational performance drive higher Y-o-Y revenue, EBITDA and net income Gazprom neft 17
  17. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 17
    Increased production and premium sales driving Y-o-Y revenue, EBITDA and net income growth Revenue increased 2.5% Y-o-Y on expanded hydrocarbon production and sales volumes, particularly via premium Net revenues channels, despite…
  18. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 18
    EBITDA reconciliation 1Q15 vs. 1Q14 EBITDA 1Q15 vs 1Q14, RUB bln Group share in JVs EBITDA Duty lag (2,539) FX 23,968 Urals in MET 41,821 Urals in export duty 22,693 Prices (69,983) external factors = (5,430) internal…
  19. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 19
    EBITDA reconciliation 1Q15 vs. 4Q14 EBITDA 1Q15 vs 4Q14, RUB bln Duty lag 12,084 FX 9,683 Urals in MET 25,953 Urals in export duty 19,798 Group share in JVs Prices (26,009) EBITDA external factors = 27,735 internal…
  20. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 20
    Active greenfield development drives FCF to negative Cash flow reconciliation 1Q 2015, RUB mln 59,792 Advances provided to Messoyakha * Projects not consolidated under IFRS (included advances provided to Messoyaha) Gazprom…
  21. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 21
    Upstream capex grows on greenfield development Investments, RUB mln 34% increase in IFRS capex 67% Y-o-Y higher brownfield capex reflects reclassification of Priobskoye fields to brownfield category Increased greenfield capex…
  22. Q1 2015 IFRS FINANCIAL AND OPERATING RESULTS – Gazprom Neft – slide 22
    Commitment to strong and proactive capital management Debt maturity profile at the end of 1Q15 Debt structure at the end of 1Q15, RUB mln 600,513 138,707 other bonds Cash & cash equivalents Short-term deposits LPN bank…

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