Q1 2015 RESULTS – Turkiye Petrol Rafinerileri A.S
Turkiye Petrol Rafinerileri A.S ·
May 8, 2015 · 34 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
Results for 1Q 2015 Analyst Teleconference 08 May 2015 1
01 Market 02 Operation 03 Financials
2015 First Quarter Market Conditions Bearish Economic Development Low Seasonal Strong Price Demand Ratios Devaluation Geopolitic Risk Perception in TL Decreased Slightly Positive Excess Crude Heavy Crude Supply…
2 Month 2015 - Turkish Consumption (Million ton) Diesel Jet Fuel* 3,0 0,6 +13,8% +15,0% 2,5 0,5 2,0 0,4 1,5 0,3 2,37 2,70 0,56 1,0 0,49 0,2 0,5 0,1 0,0 0,0 2014 2015 2014 2015 Gasoline Fuel Oil 0,3 0,20 0,3 +7,4% 0,2…
Crude Differentials /Barrel 1,5 Ural Crude Differentials /Barrel 1,5 1,0 1,0 0,5 0,5 0,0 0,0 -0,5 -0,5 -1,0 -1,0 -1,5 -1,5 -2,0 -2,0 -2,5 -2,5 -3,0 2009-2012 Min/Max 2012 2014 2011 2013 2015 -3,0 -3,5 -3,5 -4,0 -4,0 Jan Feb…
Quarterly Price Ratios (product /bbl/Crude /bbl) 1,30 Gasoline 1,35 Diesel 1,29 1,25 1,24 1,30 1,20 1,25 1,20 1,15 1,14 1,15 1,21 1,10 1,07 1,10 1,19 1,15 1,15 1,16 1,15 1,15 1,16 1,15 1,15 1,17 1,15 1,13 1,13 1,14 1,13…
Product / Crude Price Ratio Effect on Tupras, 1q Product Ratio, Tpra Crack Margin bbl/bbl January-March Product 2014 2015 2014 2015 Yield % LPG 0,72 0,64 3,3% -1,0 -0,7 Gasoline 1,07 1,24 20,6% 1,6 2,7 Naptha 0,92 0,91 0,5% 0,0…
Fluctuation in Oil Price & Exchange Rate for 1Q 2015 2,65 63 62,0 2,62 2,63 Brent Crude Price 2,61 61 2,59 TL/Dollar 2,57 59 2,55 2,53 57 2,51 55,0 2,49 55 2,47 2,45 53 54,0 2,43 2,41 51 2,39 2,35 49 2,37 45,2…
Inventory Effect* Analysis 2014 1Q 2015 1Q million Crude Product Total Crude Product Total Jan 6,4 15,8 22,3 -41,7 -49,8 -91,4 Feb 5,0 21,9 26,9 10,0 2,5 12,5 Mar 0,4 0,3 0,7 -3,4 12,2 8,7 1st Quarter 11,8 38,1 49,9 -35,1 -35,1…
Med & Tpra Net Margins, /bbl 4th Quarter 1st Quarter 8,0 8,0 5,98 5,82 4,56 5,46 4,69 6,0 6,0 4,42 3,87 3,70 3,50 3,84 3,44 3,45 2,97 2,83 3,05 4,0 2,92 2,41 2,76 4,0…
Margin Comparison & Inventory Effect Tpra Gross Refining Inventory Tpra Clean Med Complex / bbl Margin Effect Gross Ref. Margin Margin 2014 1.Q 9,74 0,34 9,40 0,44 2015 1.Q 10,32 (0,79) 11,11 5,98 Tpra NET Refining Inventory…
Market Operations Financials 12
Production Capacity Utilisations (%) Quarterly Production Volumes (Mn Tons) 100 7 +17,9% 6,47 6,25 90 85,9 6,07 5,71 91,1 81,6 6 79,1 5,2 86,1 80 77,1 2,9 5,51 2,4 74,9 5,5 5,51 80,7 78,7 69,2 7,5 76,8 3,6…
Product Yields Middle Distillates Light Distillates 45,5% 47,4% 46,2% 23,8% 23,4% 50% 45,0% 43,6% 43,4% 44,9% 25% 22,6% 22,6% 21,7% 22,5% 22,4% 42,3% 42,5% 0,0% 21,2% 21,5% 0,5% 0,8% 0,0% 0,8% 0,4% 1,7% 1,2% 0,7% 40% 20% 27% 27%…
Domestic Sales, million tons 1,18 Gasoline Jet Fuel 1,11 0,54 1,01 0,53 0,98 0,52 1,2 0,92 0,91 0,6 0,49 0,47 0,86 0,46 0,45 0,84 0,44 0,44 0,81 0,81 0,43 1,0 0,76…
Opet Station Numbers 1.356 1.393 1.412 1.500 1.324 1.279 1.325 1.224 1.200 418 427 432 526 394 410 394 900 600 885 915 938 966 980 798 830 300 0 2009 2010 2011 2012 2013 2014 2015 Opet Sunpet Summary White Product…
RUP Progress As of the end of March: Total Completion has reached 100.0% Only the coker remains in test mode, the other units have successfully produced products. A total of 3.0 Billion has been spent on procurement and…
Market Operations Financials 18
Profitability Indicators , 12 M 2013-2014 & 1Q-2014-15 2014 1Q 2015 1Q (%) 2013 2014 (%) 108,22 53,97 -50 Dtd.Brent Price, (/bbl) 108,7 98,99 -8,9 32,54 33,14 1,8 Processed Crude API 32,54 32,29 -0,8 71,27 72,84 1,6 White Product…
Financial Highlights (mn ) EBITDA Net Income 1.329,4 1.400 1200 1.200 272 1000 1.000 830 753,5 715 800 800 468 169 115 106 560 271 600 174 91 1.099 271 89 600 47 373 338 400 779 328 361 47 206 175 256 315 226 400 309 200…
Balance Sheet Analysis Cash & Equivalents (Billion ) Receivables (Billion ) 2,5 2,16 2,0 2,0 1,83 1,81 1,72 1,69 1,5 1,34 1,45 1,33 1,64 1,68 1,19 1,41 0,93 1,5 1,30 1,21 1,0 0,71 0,52 0,51 1,0 0,5 0,20 0,09 0,5 0,0 0,0 Dec.12…
FX Risk Exposure (31 March 2015 ) Consolidated Consolidated Assets Liabilities Million Cash Payables 82 1,157 Receivables* ST Financials 235 21 RUP 141 Stock LT Financials: 2,655 1,076 RUP Loans: 1,839 Eurobond: 700…
Cash Flow Hedge Accounting In order to deal with the foreign exchange risks associated with the RUP credit, we are implementing Cash Flow Hedge Accounting What does it do Focuses only on potential CASH losses in the current…
Income Statement 1Q 1Q 12 M % Diff. Million USD 12 M 2014 % Diff. 2014 2015 2013 21.594, 4.186,2 2.829,3 -32,4 Net Sales 18.164,9 -16 7 184,5 203,1 10,1 Gross Profit 774,5 577,5 -25 -71,3 -70,0 -1,8 Operating Expenses -367,8…
Tpra Balance Sheet-Assets % Million USD 31.03.2015 31.12.2014 Difference Difference Current Assets 2.778 3.015 -237 -8 Cash & C. Equivalents 1.206 1.681 -475 -28 Receivables 201 87 115 132 Derivatives 105 28 77 277 Inventories…
Tpra Balance Sheet-Liabilities % Million USD 31.03.2015 31.12.2014 Difference Difference Short Term Liabilities 3.044 3.692 -648 -18 Financial Loans 377 335 42 13 Payables 1.740 2.464 -724 -29 Derivatives 3,22 0,03 3,19 10.873…
Future Expectations Med Complex Margin We expect Med Complex margins to be 3.0-3.2 dollar per barrel band in 2015. Tupras Net Margin For Tupras net refinery margins, we expect this to be in the region of 3.7-4.5 dollars per barrel…
Extras 30
Import Product Profitability-1Q Fark Million TL 2014 2015 2015-2014 1Q 1,58 -1,59 -3,17 9
1st Quarter Product Yields 2014 2015 Asphalt Asphalt 9,3% 7,3% Gasoline Gasoline 20,6% 21,5% Light Fuel Oil Light Black Black Distil. 19,2% Distil. Prod. Naphtha Prod. Fuel Oil 21,7% 22,4% 28,2% 1,2% 26,5% Naphtha 18,9%…
1Q Sales (Thousand Tons) Domestic Sales Export Volumes 1.800 900 1.702 802 808 1.459 1.600 800 1Q 2014 1.400 1Q 2015 700 1Q 2014 1.200 600 1Q 2015 547 510 1.000 500 873 770 800 400 600 300 425 416…
1Q Trading Activities Finished Products Intermediates High Sulfur Diesel imports were Additional HVGO imported to stable but buy more ULSD increase Capacity Utilisation in High / Low sulphur diesel conversion units differentials were…
Monthly Price Ratios (product /bbl/Crude /bbl) 2014-BBL/BBL Jan Feb Mar Avg. LPG 0,80 0,70 0,66 0,72 Naptha 0,93 0,92 0,92 0,92 Gasoline 1,05 1,08 1,10 1,07 Jet Fuel 1,12 1,12 1,10 1,12 Diesel 10ppm 1,14 1,14 1,14 1,14 Diesel…
Thank You
Loading...
