PGNiG Group's Full-Year Results for 2013 March 5th 2014
Factors contributing to the financial result Stable average USD/PLN and EUR/PLN FX rates Lower crude oil prices 4,5 PLN 450 PLN/boe 4,0 4.19 4.11 400 3,5 345 334 350 3,0 3.18 3.07 2,5 300 01'12 03'12 06'12 08'12 11'12 02'13…
Key financial data 2013 (PLNm) 2012 2013 % Revenue 28,730 32,120 12% Revenue from sale of products grew in 2013: Operating expenses (excl. D&A) (24,121) (26,508) 10% High-methane gas +PLN 1,231m EBITDA 4,609 5,612 22% Nitrogen-rich…
Business segments EBITDA 2013 PLN +1.5bn yoy growth in revenue from crude oil and condensate sales in 2013 PLN -437m yoy D&A and PLN -266m of Contribution created write-offs and provisions (PLNm) 2012 2013 % to Group's result Cost…
Segments Exploration and Production +PLN 1,494m (+118%) yoy growth in revenue from crude oil and condensate sales in 2013 Crude sales volume up +128% on 2012 (+621,000 tonnes) (PLNm) 2012 2013 % Rise in inter-segment sales of gas…
Segments Trade and Storage (1) Tariff not sufficient to cover costs: in 2013 Group E gas margin of -2% (PLNm) 2012 2013 % PST's contribution: PLN 1.7bn in revenue from gas Revenue 23,714 25,659 8% sales in 2013 vs PLN 0.4bn in 2012…
Segments Trade and Storage (2) Gas inventory levels (bcm) Record high gas inventory at end of 2013: 2.09 3 bcm (including test injections of 0.4 bcm at PMG Wierzchowice and 0.06 bcm at PMG 2,5 Kosakowo) 2.48 2 2.09 1,5 1.89 1.79…
Segments Distribution Higher revenue and costs following changes in the Distribution and Transmission Grid Codes (PLNm) 2012 2013 % (neutral to operating profit/loss) Revenue 3,584 4,250 19% Cost of transmission service in 2013:…
Segments Generation 9% rise in heat tariff as of July 2013 Segment's revenue from electricity sales up PLN 113m, to PLN 916m (of which PLN 705m from own production) (PLNm) 2012 2013 % Segment's revenue from sale of certificates of…
Operating expenses In Q4 2012, retroactive effect of annex to the Yamal contract reduced cost of gas (PLNm) 2012 2013 % +9% growth in gas sales volume Cost of gas sold (15,713) (17,208) 10% Other raw material and consumables used…
Debt and sources of financing Financing sources as at December 31st 2013 (PLNm) 9 000 available funds used funds Optimisation of financing sources 6 000 Available financing programmes for 1,000 PLN 12.2bn, including PLN 8.2bn 8,200…
Key achievements in 2013 Record high production of crude oil and condensate Norway: 283,000 tonnes (incl. 94,000 tonnes in Q4 2013) LMG: 348,000 tonnes (incl. 96,000 tonnes in Q4 2013) Total: 1.1m tonnes, i.e. 3,000 bbl/day (in Q4…
Appendix 13
Segments EBITDA Q4 2013 PLN -304m yoy in recognised impairment losses and provisions Contribution Revenue from crude oil and condensate sales: (PLNm) Q42012 Q42013 % to Group's +PLN 667m yoy result In Q4 2012, retroactive effect of…
Production and sales volumes NATURAL GAS PRODUCTION, PGNiG Group (mcm) FY 2013 Q4 2013 Q3 2013 Q2 2013 Q1 2013 FY 2012 Q4 2012 Q3 2012 Q2 2012 Q1 2012 FY 2011 Q4 2011 Q3 2011 Q2 2011 Q1 2011 HIGH-METHANE GAS (E) 1,890 483.1 481.2…
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