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Q1 2014 EARNINGS CALL – S-Oil Corporation

S-Oil Corporation · Apr 1, 2014 · 17 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 EARNINGS CALL – S-Oil Corporation – slide 1
    1Q 2014 Earnings Release April 2014
  2. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 2
    DISCLAIMER Financial results for 1Q 2014 are provisional and accordingly subject to change according to the outside independent auditors review. This presentation contains forward-looking statements that are based on our current…
  3. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 3
    1Q 2014 Performance 1Q 2014 Financial Result 4 Financial Status 5 Capital Expenditure 6 Major Business Index 7 Performance by Business Segment Financial Result by Business Segment 8 Market Trend and the Companys Action 9…
  4. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 4
    1Q 2014 Financial Result Revenue Operating Income Income before Tax (Unit: bil. Won) 326.8 (Unit: bil. Won) (Unit: bil. Won) 8,013.7 8,125.6 8,044.6 260.2 7,602.2 6,974.7 4.1% 193.2 59.7 60.4 56.8 57.5 99.9 51.5 47.2 1.4% 25.1…
  5. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 5
    Financial Status Financial Status Assets Liabilities & Equities (Unit: bil. Won) (Unit: bil. Won) 13,203 12,497 11,921 12,237 13,203 12,497 11,921 12,237 908 991 821 866 4,234 3,621 3,005 3,360 7,257 6,679 488 673 520 519 6,399…
  6. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 6
    Capital Expenditure CAPEX 2014 CAPEX would increase upon preparation for a new major project and acquisition of the KNOC land. Basic Engineering for Residue Upgrading Expansion is the preceding process for a final decision-making. FY…
  7. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 7
    Major Business Index Utilization Rate 2013 & 2014 T/A (Unit: k bpd, %) Capacity 4Q 13 1Q 14 2013 2014 CDU 669.0 93.9% 95.7% 1 & 3 CDU CDU - CFU HYC FH 76.5 95.0% 100.2% RFCC, HYC FH Refining 1 & 2 RHDS RFCC 73.0 97.1% 98.5% 1 & 2…
  8. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 8
    Financial Result by Business Segment Refining Revenue (Unit: bil. Won) 1Q 13 YoY 4Q 13 QoQ 1Q 14 +8,045 +7,602 +471 Revenue 6,532.3 5.4% 6,579.4 6.1% 6,178.6 +994 +529 +6,579 +895 +6,179 Operating Income 131.0 - -253.8 - -52.2…
  9. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 9
    Market Trend and the Companys Action Refining Petrochemical Lube Base Oil Singapore market margin (/bbl) Product Spread (/ton) Product Spread (/ton) [ GRM Variable Cost ] 649 5.0 379 559 353 541 336 2.7 319 2.3 1.6 1.4 451 461…
  10. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 10
    2Q 2014 Outlook Refining Asian refining business in 2Q is expected to continue a recovery upon lower supply and stable demand. (Unit: k bpd) 2Q Outlook : Positive -90 Oil supply in Asia/Middle East would decrease significantly upon…
  11. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 11
    2Q 2014 Outlook Petrochemical & Lube Base Oil Petrochemical (Unit: k ton) +740 Para-Xylene 2Q Outlook : Positive Market conditions are expected to improve from the severe margin collapse in March, driven by higher utilization rates of…
  12. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 12
    2H 2014 Outlook Refining Asian refining business would continue to improve in 2H 2014 on the back of a decent supply-demand balance supported by firm demand growth in the Middle East and the capacity closures in Asia. (Unit: k bpd) 2H…
  13. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 13
    2H 2014 Outlook Petrochemical & Lube Base Oil Petrochemical (Unit: k ton) +1,578 +1,653 Para-Xylene 2H Outlook : Neutral Market conditions are not likely to change much from the soft 1H 14 as a demand growth from PTA capacity…
  14. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 14
    Appendix 1 Roadmap for Future Growth Petrochemical Integration THE MOST PROFITABLE AND Residue Upgrading Expansion INTEGRATED ENERGY COMPANY Lube Base Oil Expansion 2012 Beyond 2018 Var. Upgrading Ratio* 41% 46% 5%P -…
  15. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 15
    Appendix 2 Summarized Income Statement (Unit: bil. Won) 1Q 13 YoY 4Q 13 QoQ 1Q 14 Revenue 8,013.7 5.1% 8,044.6 5.5% 7,602.2 Operating Income 326.8 85.5% -85.8 - 47.2 (Margin) (4.1%) - (-1.1%) - (0.6%) Finance & Other Income…
  16. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 16
    Appendix 3 Margin Trend Singapore Refining Margin (/bbl) Petrochemical Product Spread (/ton) [ GRM Variable Cost ] 502 3.2 2.9 447 434 2.8 397 371 2.1 2.2 341 397 386 320 357 335 317 0.9 256 251 0.6 Oct '13 Nov '13 Dec…
  17. Q1 2014 EARNINGS CALL – S-Oil Corporation – slide 17
    Thank You S-OIL IR Team

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