Shai Even Senior Vice President & Chief Financial Officer June 2015
Alon USA Energy - Overview Alon is an independent refiner and marketer of petroleum products with 217,000 barrels per day of refining capacity focused on growth and innovation to meet both the energy and environmental needs of today,…
Strategically Located Assets Refining Richmond Beach Washington Refinery 217,000 bpd of capacity Exchange Terminal Retail Alon USA Terminal Oregon 294 stores in Central and West Texas and Third-Party Terminal New Mexico…
Alon USAs Strategic Focus Reduced net debt by over 500 million since the start of 2012 to Strengthening Balance Sheet, 361 million at the end of 1Q 2015 Increasing Returns to Increased regular dividend by 67% to 0.10 per share per…
Where We Are Heading Expect an accretive logistics MLP transaction using existing assets across our businesses Expect to drop down Krotz Springs at accretive terms for both ALDW and ALJ After reducing net debt by over 500 million…
Sustainable Feedstock Advantage WTI-based crudes and light sweet Gulf Coast crudes (LLS) are expected to trade at a discount to Brent, providing a sustainable feedstock advantage for Big Spring and Krotz Springs LLS discounts narrow…
Big Spring: In the Heart of the Permian Basin Several rigs concentrated in the proximity of the refinery Permian oil production still increasing; EIA forecasts a small sequential increase in July production1 most think Permian…
Big Spring Refinery Overview Refinery Operating Margin1 Big Spring refinery: 73,000 bpd (26 MMbbl/year) sour crude cracking refinery 10.5 Nelson Complexity Processes 100% Midland-priced crude n Big Spring Operating Margin Gulf…
How Big Spring Made Money - 2014 Product Yields Crude / Blendstocks Refining Operating Margin1 Per bbl Per bbl Per bbl Gasoline 7.75 15.54 Gasoline Sour 49.9% Crude 101.86 45.9% Jet 1.13 27.03 Jet 111.72 4.4% Diesel…
Organic Growth Opportunities at Big Spring Evaluating low-risk projects with payback periods of less than two years to enhance the refinerys gross margin, focused on: LPG recovery, increased aromatics recovery, producing…
Krotz Springs Refinery Overview Refinery Operating Margin 74,000 bpd sweet crude residual cracking refinery 8.3 Nelson Complexity Historically processed a mix of LLS and HLS type crudes n Krotz Springs Operating Margin Gulf Coast 211…
How Krotz Springs Made Money - 2014 Product Yields Crude / Blendstocks Refining Operating Margin1 Per bbl Per bbl Per bbl Gasoline 5.09 2.38 WTI Gasoline 40.3% Jet 102.85 46.8% 2.72 15.79 Diesel Jet 3.06 11.63 113.54…
Improving Value Proposition of Krotz Springs Evaluating projects with less than two-year paybacks focused on: Increasing LPG value Organic Growth Projects Improving distillate recovery Enhancing gasoline blending Processing…
California Refining Assets Overview In 4Q 2012, ceased refining operations due to unfavorable economics Focused on reducing operating expenses; leveraging logistics assets Terminal Current Permitted Rail Capacity Status Long Beach…
Physically Integrated Retail Network Largest 7-Eleven licensee in the U.S. with 294 stores (50% fee owned) in Central/West Texas and New Mexico Locations in High Growth Markets1 Remodel program continues to progress Location Total…
Improving the Asphalt Business In 2014, U.S. asphalt demand was down 40% from the peak in 2005; PADD V demand was down 52% from 20051 Asphalt demand is largely driven by federal, state and local spending The countrys highways and…
Alons Strategic Advantages Strategically located refineries with advantageous sources of crude Existing assets have significant logistics EBITDA to support a logistics MLP market transaction; Bakersfield provides significant logistics…
Growth Initiatives & Operational Improvements Opportunities to implement low-risk, high-return projects Refining Increasing high margin distillate production Evaluating potential to increase throughput at Big Spring Expanding…
Financial Summary 20
Key Financial Metrics Adjusted EBITDA1 Net Leverage (Net Debt/Adjusted EBITDA)2 millions millions Capital Expenditures & Turnarounds Increase in capital expenditures in 2014 and 2015 relates to the turnaround and vacuum…
Guidance and RINs Information Throughput at Big Spring is expected to average 73,000 bpd in 2Q 2015 and 72,000 bpd for full-year 2015 Throughput at Krotz Springs is expected to average 76,000 bpd in 2Q 2015 and 69,000 bpd for…
Adjusted EBITDA Reconciliation (in 000's) 2012 2013 20141 1Q 20152 Net income available to stockholders 79,134 22,986 38,457 26,939 Net income attributable to non-controlling interest 11,463 25,129 31,411 7,116 Income tax expense 49,884…
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