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Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A.

S.N.G.N. RomGaz S.A. · May 14, 2015 · 21 slides

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Slides

  1. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 1
    ROMGAZ May 2015
  2. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 2
    Company Overview Largest Reserve Holder, Producer and Supplier of Natural Gas in Romania Onshore mature natural gas reserves base1: 1P 62 bcm, 2P 75 bcm Gas Exploration & Production: 1.44 bcm in Q1/15, -1.9% y/y (stabilised at…
  3. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 3
    Key Financials for 2012 Q1/2015 Romgaz maintained strong profitability in Q1/2015 Revenues from gas sales - domestic production (incl JV): +6.4% y/y on higher gas prices, total sales -5.8% y/y in Q1/15 EBITDA: -2.0% y/y to RON 842…
  4. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 4
    Factors with impact in Q1/15 vs Q1/14 Higher regulated gas production prices 144 134 128 140 128 123 122 122 118 107 111 120 RON / MWh 100 89.4 89.4 89.4 80 68.3 72.0 63.4 49.0 55.3 Non-households 60 45.7 48.5 49.8 50.6…
  5. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 5
    Favorable Financial Performance in Q1/15 Profit and loss account Romgaz continues to post elevated profitability in Q1/15 Selected P&L items RON RON mln 2012 2013 2014 Q1/14 Q1/15 Breakdown of Revenues Revenues - of which 3,838 3,894…
  6. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 6
    Financial Performance Balance Sheet Summary Robust Balance Sheet Structure, Debt-free in Q1/15 as well Selected Balance Sheet Items Selected Cash Flow Items RON mln 2012 2013 2014 End-Q1/15 RON mln 2012 2013 2014 Q1/15 Total…
  7. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 7
    Key Financial Data Healthy FCF combined with a +50% Dividend Payout Ratio Capital Expenditures (RON mln) EBITDA Breakdown (RON mln) Others 197 1,000 +28% 84 159 Exploitation drilling, putting well into 239 Upstream production,…
  8. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 8
    Gas Resource Overview in the Country Mature Market With Long History of Production and Significant Upside Opportunities Total Gas Consumption in Romania 2003-2014 (bcm) Brodina 18.3 17.7 17.6 17.3 16.4 15.5 5.4 5.0 13.8 14.2 5.2…
  9. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 9
    Romgaz: Reserves and Resources Sizeable reserve base with a signification portion proven developed Audited Reserves1 and Contingent Resources2 (bcm / % of total) Revisions and New Discoveries Reserves Replacement Ratio (%) 323 12…
  10. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 10
    Exploration Overview Significant Resource Upside Potential Petroleum agreements for 9 onshore exploration blocks (about 17,650 km Current exploration phase 2011-2016 with 3D/2D seismic data and 75 wells across the Transylvania,…
  11. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 11
    Production of Natural Gas Arresting Production Decline via Application of New Technologies Romgaz Annual Production 1991- Q1/2015 1) Arresting Production Decline Enhanced Production from Selected Fields2) 17.3 1992-1999 CAGR…
  12. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 12
    The Company: Business & Operations Natural Gas Production Successful production enhancement in some key fields Compressor added Compressor Compressoradded Compressor added added Compressor added Start of Start…
  13. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 13
    Commercialising the Gas Total Gas Supply and main Customers Largest Supplier of Gas in Romania (Domestic Production + Imports) Largest Producer with entire production sold locally Breakdown of volume sales: 56.1% Households…
  14. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 14
    Storage and Power Romgaz is the Largest Owner and Operator of Gas Underground Storage Facilities in Romania Romgaz Entered the Power Segment with the Acquisition of Iernut Power Plant (CTE Iernut) Underground Gas Storage Electricity…
  15. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 15
    Main strategic goals Enhanced recovery and development of already discovered resources Increase of the gas resources - Extend the life of and the amounts recoverable from existing fields and reserves portfolio through - Appraisal of…
  16. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 16
    Management Agenda 2014-2015 Maintain the gas production decline below 1.5%/year Investments over Continue to 1.1 billion RON, increase the mainly in companys exploration and performance production Modernisation…
  17. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 17
    Key Achievements 2014 - 2015 Selected Events March 26, 2014 April 9, 2014 June 11, 2014 June-July, 2014 Govt issued Order no. 13 / ANRE issued Order no. 29/2014 Govt issued Ordinance no. 35 / 2014 The Ordinary Meetings of 2014 to…
  18. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 18
    19
  19. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 19
    Shareholder Structure and Stock Performance Current shareholding structure includes: the Romanian State (Ministry of Energy, SMEs and Business Environment) majority shareholder with a 70% stake; Property Fund (listed entity) - 10%;…
  20. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 20
    The Board: Balanced Team of Privatisation Experts, Legal & Fiscal Advisors and Industry Specialists Nominalization Audit & Remuneration Committee The Board of Directors Committee Aurora Negrut Chairperson Non-executive Member…
  21. Q1 2015 EARNINGS CALL – S.N.G.N. RomGaz S.A. – slide 21
    Financial Calendar 2015 Romgaz IR: investor.relationsromgaz.ro Manuela Ogrinja, CFA May 14: Conference call with investors on the Q1/15 financial results Adina Stefanescu August 14: Release of the H1/Q2 Financial Results Brandusa…

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