Q1 2014 EARNINGS CALL – Turkiye Petrol Rafinerileri A.S

Turkiye Petrol Rafinerileri A.S · May 9, 2014 · 31 slides

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Slides

Results for 1Q 2014 Analyst Teleconference 9 May 2014
Market Operations Financials 2 www.tupras.com.tr
1Q 2014 Market Conditions Bearish Economic Development Weakening Turkish Lira & Higher interest rate Weak product Narrowed demand growth Heavy Crude in EM & Spreads Capacity additions Poor Increasing WTI / Brent…
1Q 2014 - Turkish Consumption (Million ton) Diesel Jet Fuel* 4,0 +7,8% 0,8 3,5 +13,1% 0,8 3,0 2,5 0,7 2,0 3,4 3,7 0,7 0,77 1,5 0,6 0,68 1,0 0,6 0,5 2013 2014 0,5 2013 2014 Gasoline Fuel Oil 0,5 0,20 -1,0% +4,6%…
Crude Differentials /Barrel 1,5 Ural Crude Differentials /Barrel 2,0 1,0 0,5 1,0 0,0 -0,5 0,0 -1,0 -1,0 -1,5 -2,0 -2,0 -2,5 -3,0 2009-2012 Min/Max 2012 2014 2011 -3,0 -3,5 2013 -4,0 -4,0 Jan Feb Mar Apr May Jun Jul Aug…
Quarterly Price Ratios (product /bbl/Crude /bbl) 1,16 Gasoline 1,20 Diesel 1,14 1,18 1,12 1,17 1,10 1,11 1,11 1,16 1,16 1,15 1,15 1,08 1,08 1,15 1,14 1,19 1,18 1,13 1,17 1,06 1,12 1,12 1,12 1,16 1,17 1,15 1,15 1,15 1,15…
Med Complex & Tpra Net Margins, /bbl 1st Quarter 2nd Quarter 5,0 8,0 6,28 3,86 6,13 3,70 5,73 3,50 3,44 4,89 4,0 2,97 2,83 6,0 4,34 2,41 3,65 3,55 3,0 1,96 1,72 1,57 2,63…
Margin Comparison & Inventory Effect Inventory Med Complex / bbl Tpra Clean Gross Margin Effect Margin 2013 1.Q (0,45) 9,86 2,83 2014 1.Q 0,34 9,40 0,39 Inventory Med Complex / bbl Tpra Clean NET Margin Effect Margin 2013…
Internal Factors Drivers of Tupras in 1st Quarter 2014 Higher CUR Inventory Gain Lower Unit costs Higher CUR lowered per barrel costs, Depreciation of TL helped to decrease TL based fixed costs Lower Energy & Labor cost…
Market Operations Financials 10 www.tupras.com.tr
Production Capacity Utilisations (%) Quarterly Production Volumes (Million Tons) 100 7 6,47 6,25 90 93,2 6,07 90,7 91,1 87,2 79,9 81,6 79,1 6 5,63 86,1 77,1 5,51 80 2,9 2,4 +3.4% 5,83 5,5 69,2 7,5 78,7 76,8 68,0 70 74,4…
Product Yields Middle Distillates Light Distillates 23,0% 22,3% 23,8% 50% 45,0% 43,6% 45,5% 43,4% 25% 22,8% 22,6% 22,6% 21,7% 41,0% 40,3% 41,4% 41,3% 42,3% 21,2% 0,0% 21,2% 3,1% 0,4% 0,2% 1,4% 0,8% 0,4% 1,7% 1,2% 40% 20% 30% 27%…
Growing Domestic Sales, million tons Gasoline Jet Fuel 1,11 1,01 0,53 0,53 0,52 0,52 1,2 0,92 0,49 0,6 0,47 0,46 0,45 0,45 0,84 0,83 0,44 0,44 0,44 0,81 0,81 0,79 0,76 0,76…
Opet A Strong Performance Station Numbers 1.500 1.324 1.325 1.356 1.361 1.224 1.279 1.200 418 416 526 394 410 394 900 600 830 885 915 938 945 798 300 0 2009 2010 2011 2012 2013 2014 Opet Sunpet Summary White Product…
RUP Progress March 2014 The project continues on track A total of 2.3 Billion has been spent on procurement and construction As of the end of March: The progress in engineering reached 99.83% Construction continued to plan and…
Market Operations Financials 16 www.tupras.com.tr
Fluctuation in Oil Price & Exchange Rate for 1Q 2014 112 Brent Crude Price 2,3470 TL/Dollar 2,35 111,3 111 110,2 110 2,30 109 108,0 2,2410 2,25 108 107 2,20 106,8 106,0 106 2,1830 2,1757 2,1596 105 2,15 17…
Profitability Indicators , Q1 2013-2014 & 12 Months 2012-2013 2013 1Q 2014 1Q (%) 2012 12M 2013 12M (%) 112,55 108,22 -3,9 Dtd.Brent Price, (/bbl) 111,6 108,66 -2,6 33,06 32,54 -1,6 Processed Crude API 32,22 32,54 1,0 71,4 71,3…
Financial Highlights (mn ) EBITDA Net Income 1.329,4 1200 1.400 1.200 272 1000 817 1.000 830 740 753,5 715 800 800 468 629 169 174 271 115 106 560 600 490 47 600 998 1.081 1.099 271 89 47 206 400 328 373 361 400 309 779 230…
Balance Sheet Analysis Cash & Equivalents (Billion ) Receivables (Billion ) 2,5 2,16 2,5 1,89 1,99 2,0 2,0 1,72 1,83 1,81 1,72 1,69 1,5 1,34 1,45 1,33 1,41 1,19 1,5 0,93 1,0 0,71 1,0 0,67 0,5 0,5 0,0 0,0 Dec 11Sep 12Dec.12Mar.13…
FX Risk Exposure (31 March 2014 ) Consolidated Consolidated Assets Liabilities Million Cash: 930 Payables: 1.717 Recievables & Short Term Loans: Others: 29 245 Financial Loans: Stock 1.948 2.651 +143 FX Risk with…
Disclaimer This presentation contains forward-looking statements that reflect the Company managements current views with respect to certain future events. Although it is believed that the expectations reflected in these statements are…
Income Statement 1Q 1Q 12 M 12 M % Diff. Million USD % Diff. 2013 2014 2012 2013 4.622,2 4.186,2 -9,4 Net Sales 23.677,3 21.595,2 -9 130,4 184,5 41,4 Gross Profit 943,4 774,5 -18 -84,9 -71,3-16,0 Operating Expenses -371,5 -367,8 -1…
Tpra Balance Sheet-Assets % Million USD 31.03.2014 31.12.2013 Difference Difference Current Assets 4.717 4.575 142 3 Cash & C. Equivalents 1.690 1.716 -26 -2 Receivables 713 935 -222 -24 Inventories 1.953 1.619 333 21 Pre-paid…
Tpra Balance Sheet-Liabilities Million USD 31.03.2014 31.12.2013 Difference % Difference Short Term Liabilities 5.076 4.871 205 4 Financial Loans 884 504 381 76 Payables 3.104 3.218 -114 -4 Deferred Incomes 0 5 Provisions 171 170…
Extras 26 www.tupras.com.tr
1st Quarter Product Yields 2013 2014 Asphalt Asphalt 8,7% 9,3% Gasoline Gasoline 20,6% 23,8% Light Black Light Black Distil. Distil. Fuel Oil Fuel Oil Prod. Prod. 21,7% 23,8% 18,9% 19,1% 27,8% 28,2% Naphtha 1,2% Other…
1Q Sales (Thousand Tons) Domestic Sales Export Volumes 750 1.630 1.800 683 1Q 2013 1Q 2013 1.460 1.600 618 1Q 2014 1Q 2014 1.400 547 510 1.200 500 1.000 770 715 800 600 250 416 389 360 341 400…
1Q Trading Activities Finished Products Intermediates Diesel imports down 52% due to No ASRFO import due to the low product optimization process in the CUR and heavier crude processed refineries Product Imports, Ton*000…
Monthly Price Ratios (product /bbl/Crude /bbl) 2014-BBL/BBL Jan Feb March 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 31 www.tupras.com.tr

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