Skip to main content Q1 2015 RESULTS – Saras S.p.A. Investor Presentation | Shale Experts
Loading...
Pm

Q1 2015 RESULTS – Saras S.p.A.

Saras S.p.A. · May 14, 2015 · 27 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 RESULTS – Saras S.p.A. – slide 1
    SARAS First Quarter 2015 results 14th May 2015 14 May 2015 Saras SpA 1
  2. Q1 2015 RESULTS – Saras S.p.A. – slide 2
    Highlights: Group Results EUR million Q1/15 Q1/14 Change % Q4/14 Reported EBITDA 135.6 (17.0) +898% (233.1) Reported Net Result 74.2 (51.7) +244% (135.1) Comparable 1 EBITDA 144.2 8.4 +1,625% 106.1 Adjusted 2 Net Result 54.5…
  3. Q1 2015 RESULTS – Saras S.p.A. – slide 3
    Highlights: Diesel and Gasoline Crack Spreads Med: Gasoline Crack spread vs Brent monthly averages 25 2015 2014 20 '10-'14 avg '10-'14 range 15 US/bl 10 5 0 -5 Jan Feb Mar Apr May Jun Jul Aug Sep Oct No v Dec Med:…
  4. Q1 2015 RESULTS – Saras S.p.A. – slide 4
    Highlights: Refining and Power Generation Margins 12.0 /bl 10.0 9.3 8.6 8.0 3.3 6.0 6.0 5.4 5.0 5.1 5.0 5.7 6.0 4.0 3.8 4.8 4.0 4.4 4.6 4.5 2.9 2.0 1.6 1.2 0.6 0.5 0.0 0.5 0.9 0.3 -0.5 -2.0 -1.2 -1.5 -1.9 -4.0 2013…
  5. Q1 2015 RESULTS – Saras S.p.A. – slide 5
    Segments Review
  6. Q1 2015 RESULTS – Saras S.p.A. – slide 6
    Segment Review: Refining Comparable EBITDA Q1/15 100 EUR m 83.3 Crude runs at 27.0 mbl (301 kbd), up 12% vs. Q1/14 80 Favourable market allowed to maximise throughput in Q1/15 60 Comparable EBITDA at EUR 83.3m, vs. EUR -50.0m in…
  7. Q1 2015 RESULTS – Saras S.p.A. – slide 7
    Segment Review: Refining Production and Crude Oil Slate PRODUCTION 2014 Q1/15 LPG Thousand tons 146 92 Yield 1.2% 2.5% NAPHTHA+GASOLINE Thousand tons 3,328 1,006 yield 26.8% 27.2% MIDDLE DISTILLATES Thousand tons 6,725 2,058…
  8. Q1 2015 RESULTS – Saras S.p.A. – slide 8
    Segment Review: Refining Fixed & Variable costs 2014 Q1/15 Refinery RUNS Million barrels 90.7 27.0 Exchange rate EUR/USD 1.33 1.13 Fixed costs EUR million 220 61 /bl 3.2 2.6 Variable costs EUR million 175 35 /bl 2.6…
  9. Q1 2015 RESULTS – Saras S.p.A. – slide 9
    Segment Review: Power Generation Comparable EBITDA Q1/15 100 EUR m 86.1 IFRS EBITDA at EUR 53.9m, vs. EUR 51.5m in Q1/14 80 Q1/15 results positively influenced vs. Q1/14, by the use of updated future scenarios for gas and oil…
  10. Q1 2015 RESULTS – Saras S.p.A. – slide 10
    Segment Review: Power Generation Fixed & Variable costs (IT GAAP) 2014 Q1/15 Refinery RUNS Million barrels 90.7 27.0 Power production MWh/1000 4,353 1,017 Exchange rate EUR/USD 1.33 1.13 Fixed costs EUR million 89 25 /bl…
  11. Q1 2015 RESULTS – Saras S.p.A. – slide 11
    Segment Review: Marketing Comparable EBITDA Q1/15 16 EUR m Consumption of oil products started to give small signals 12 of recovery in the Euro Zone during Q1/15 8.5 Comparable EBITDA at EUR -1.3m, vs. EUR -1.2m in Q1/14 Wholesale…
  12. Q1 2015 RESULTS – Saras S.p.A. – slide 12
    Segment Review: Wind Power Comparable EBITDA Q1/15 12 EUR m Comparable EBITDA at EUR 8.6m, in line with Q1/14 Q1/15 enjoyed higher power production (+12%, at 69,019MWh), as 10 8.6 8.6 well as higher values for the power tariff and…
  13. Q1 2015 RESULTS – Saras S.p.A. – slide 13
    Segment Review: Others Comparable EBITDA Q1/15 3.0 EUR m Comparable EBITDA at EUR -0.2m, vs. EUR -0.5m in Q1/14 2.2 2.0 1.8 1.0 0.0 -0.2 -0.2 -0.5 -1.0 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Comparable EBIT 3.0 EUR m 2.0 2.0…
  14. Q1 2015 RESULTS – Saras S.p.A. – slide 14
    Financials
  15. Q1 2015 RESULTS – Saras S.p.A. – slide 15
    Financials: Key Income Statement Figures KEY INCOME STATEMENT (EUR m) Q1/14 Q2/14 Q3/14 Q4/14 2014 Q1/15 EBITDA (17.0) 32.6 (19.5) (233.1) (237.0) 135.6 Comparable EBITDA 8.4 6.0 18.5 106.1 139.0 144.2 D&A(*) (48.5) (49.4) (50.0)…
  16. Q1 2015 RESULTS – Saras S.p.A. – slide 16
    Financials: Income Statement Adjustments EBITDA Adjustment (EUR m) Q1/14 Q2/14 Q3/14 Q4/14 2014 Q1/15 EBITDA (17.0) 32.6 (19.5) (233.1) (237.0) 135.6 (LIFO FIFO) inventories 24.3 (24.3) 46.8 357.9 404.7 (13.3) Non-recurring items…
  17. Q1 2015 RESULTS – Saras S.p.A. – slide 17
    Financials: Key Balance Sheet Figures EUR million Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Current assets 2,210 2,216 2,175 2,241 2,112 CCE and financial assets held for trading 540 493 536 669 707 Other current assets 1,670 1,724 1,639…
  18. Q1 2015 RESULTS – Saras S.p.A. – slide 18
    Financials: CAPEX CAPEX BY SEGMENT Q1/14 Q2/14 Q3/14 Q4/14 2014 Q1/15 (EUR million) REFINING 18.1 16.4 48.4 41.9 124.9 19.1 POWER GENERATION 4.5 0.2 0.3 1.9 6.8 3.2 MARKETING 0.6 1.0 0.6 0.9 3.0 0.2 WIND 0.2 0.1 0.0 0.3 0.6…
  19. Q1 2015 RESULTS – Saras S.p.A. – slide 19
    Financials: Key Ratios Leverage1 (%) ROACE2 (%) 25% 10% 5% 5% 20% 14% 0% 15% -5% 10% 5% 6% 5% -10% -8% -8% -8% -8% 5% -15% 0% 0% -20% 1. Leverage = NFP/(NFP+Equity) 2. After tax, quarterly figures are 1 year rolling…
  20. Q1 2015 RESULTS – Saras S.p.A. – slide 20
    Outlook & Strategy
  21. Q1 2015 RESULTS – Saras S.p.A. – slide 21
    Outlook & Strategy Q2/15 is unfolding positively and refining margins are holding broadly in line with Q1/15, notwithstanding a certain recovery in crude oil quotations (EMC Benchmark margin at +3.6 /bl in Q2/15-to-date), thanks to the…
  22. Q1 2015 RESULTS – Saras S.p.A. – slide 22
    Additional Information
  23. Q1 2015 RESULTS – Saras S.p.A. – slide 23
    Additional information: 2015 Maintenance Schedule Q2/15 Q3/15 Q4/15 2015 Q1/15 expected expected expected expected REFINERY Tons (m) 3.7 3.6 3.8 3.4 3.6 3.6 3.8 14.3 14.9 Refinery runs Bbls (m) 27.0 26.3 27.7 24.8 26.3 26.3 27.7…
  24. Q1 2015 RESULTS – Saras S.p.A. – slide 24
    Additional information: Refining EUR million Q1/14 Q2/14 Q3/14 Q4/14 2014 Q1/15 EBITDA (75.7) (29.9) (81.3) (309.4) (496.3) 68.3 Comparable EBITDA (50.0) (57.9) (43.3) 11.1 (140.1) 83.3 EBIT (104.4) (58.6) (111.6) (366.1) (640.7)…
  25. Q1 2015 RESULTS – Saras S.p.A. – slide 25
    Additional information: Power Generation EUR million Q1/14 Q2/14 Q3/14 Q4/14 2014 Q1/15 Comparable EBITDA 51.5 52.4 50.4 86.1 240.4 53.9 Comparable EBIT 35.1 36.0 33.9 69.7 174.7 30.2 EBITDA IT GAAP 32.6 29.5 37.5 48.3 147.9 35.9…
  26. Q1 2015 RESULTS – Saras S.p.A. – slide 26
    Additional information: Marketing EUR million Q1/14 Q2/14 Q3/14 Q4/14 2014 Q1/15 EBITDA (0.9) 4.0 8.5 (16.5) (4.9) 5.1 Comparable EBITDA (1.2) 5.4 8.5 2.2 14.9 (1.3) EBIT (3.0) 3.3 6.5 (21.5) (14.7) 3.3 Comparable EBIT (3.3) 3.4…
  27. Q1 2015 RESULTS – Saras S.p.A. – slide 27
    Additional information: Wind and Others Wind (EUR million) Q1/14 Q2/14 Q3/14 Q4/14 2014 Q1/15 Comparable EBITDA 8.6 4.3 3.1 4.5 20.5 8.6 Comparable EBIT 7.4 3.2 2.0 3.3 15.9 7.3 POWER PRODUCTION MWh 61,546 36,880 34,302 38,929…

From the store

Browse maps, data & reports in the Shale Experts store