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Q1 2014 RESULTS – PGNiG

PGNiG · May 9, 2014 · 15 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 2014 RESULTS – PGNiG – slide 1
    PGNiG Group's Financial Performance in Q1 2014 May 9th 2014
  2. Q1 2014 RESULTS – PGNiG – slide 2
    Financial highlights Q1 2014 (PLNm) Q1 2013 Q1 2014 % Revenue 10 255 9 537 -7% The temperature-related decline in sales (-7%) was lower than the reduction of operating Operating expenses (excl. D&A) (8 279) (7 356) -11% expenses…
  3. Q1 2014 RESULTS – PGNiG – slide 3
    Factors contributing to financial performance Stable average FX rates Lower crude oil prices 4,5 PLN 450 PLN/boe 4,0 4.19 400 4.16 345 328 3,5 350 3,0 3.15 300 3.06 2,5 250 01'13 04'13 07'13 09'13 12'13 03'14 01'13 04'13…
  4. Q1 2014 RESULTS – PGNiG – slide 4
    Business segments EBITDA Higher oil and gas production from fields in Norway Contribution Higher depreciation/amortisation expense by (PLNm) Q1 2013 Q1 2014 % to Group's over PLN 90m result Exploration and Production 912 1 126 23%…
  5. Q1 2014 RESULTS – PGNiG – slide 5
    Segments Exploration and Production +PLN 161m (+30%) yoy growth in revenue from sale of crude oil and condensate, with sales volume up from (PLNm) Q1 2013 Q1 2014 % 207 thousand tonnes to 287 thousand tonnes Higher inter-segment…
  6. Q1 2014 RESULTS – PGNiG – slide 6
    Segments Trade and Storage (1) Depressed gas prices on European exchanges brought down the cost attributable to volumes driven by those (PLNm) Q1 2013 Q1 2014 % markets. This allowed the PGNiG Group to report a +3% Revenue 8 579 7…
  7. Q1 2014 RESULTS – PGNiG – slide 7
    Segments Trade and Storage (2) Gas inventory levels (bcm) Gas inventory levels at storage facilities at the 3 end of March 2014: 1.26 bcm 2,5 2 2.48 Gas imports down year on year by over 0.9 2.09 1,5 1.89 bcm (2.54 bcm vs 3.46…
  8. Q1 2014 RESULTS – PGNiG – slide 8
    Segments Distribution Gas distribution volume and revenue down year on year by -17% and -12%, respectively, (PLNm) Q1 2013 Q1 2014 % i.e. over PLN 170m, due to mild weather conditions in Q1 2014 (the average air Revenue 1 420 1 264…
  9. Q1 2014 RESULTS – PGNiG – slide 9
    Segments Generation Revenue from heat sale down PLN 25m, despite a 9% rise in heat tariff as of July 2013 Revenue from electricity sale down PLN 67m, (PLNm) Q1 2013 Q1 2014 % to PLN 230m (of which PLN 214m from own generation…
  10. Q1 2014 RESULTS – PGNiG – slide 10
    Operating expenses Gas sales volume down -12% year on year The effect of cost of gas being partially linked to exchange prices, which were (PLNm) Q1 2013* Q1 2014 % down approx. -6% year on year Cost of gas sold (6 389) (5 253)…
  11. Q1 2014 RESULTS – PGNiG – slide 11
    Debt and sources of financing Financing sources at March 31st 2014 (PLNm) 9 000 available funds used funds Optimisation of financing sources 6 000 Available financing programmes for PLN 13.6bn, including PLN 8.4bn 8,430 2,000…
  12. Q1 2014 RESULTS – PGNiG – slide 12
    12
  13. Q1 2014 RESULTS – PGNiG – slide 13
    Appendix 13
  14. Q1 2014 RESULTS – PGNiG – slide 14
    Production and sales volumes NATURAL GAS PRODUCTION (mcm) Q1 2014 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) 479 1 890 483 481 484 443 1…
  15. Q1 2014 RESULTS – PGNiG – slide 15
    Expenses by segment SEGMENTS (in mPLN) Exploration and 1Q 2014 Trade and storage Distribution Generation Total* production Sales to external customers 1 144 7 874 37 422 9 537 Intercompany sales 473 75 1 227 229 - Total segment…

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