9M 2010 Financial Results (US GAAP) Leonid Fedun, Vice-President of LUKOIL November 2010
9M 2010 Financial Highlights Free Cash Flow 6,964 million ( 1,442 million in 9M 2009) Sales 76,272 million (+34.3% y-o-y) EBITDA 11,985 million (+17.1% y-o-y) Net Income 6,820 million (+ 29.0% y-o-y) Net Income per boe of…
Macroeconomic and Tax Environment 9M 2010 to 9M 2009 Urals; 34% Positive factors Negative factors R Diesel fuel (Europe); 32% E V Fuel oil (Europe); 37% E N Diesel fuel (Russia); 22% U E Gasoline (Russia); 28% Freight…
Main Operating Results 9M 2010 to 9M 2009 Oil production -1.4%; 1,952 th. boe per day Marketable gas production +25.8%; 297 th. boe per day Hydrocarbon production +1.6%; 2,249 th. boe per day Refinery throughput*…
LUKOIL Refinery Throughputs Are Steadily Growing Refinery throughputs reconciliation Refining margin of a Russian (y-o-y), th. barrels per day * cracking refinery, per barrel 40 1,400 3 7 5 -8 -10 2008 15 -13 1,334 35 85 2009…
Financial Results 3Q 2Q 9M 9M ,% million ,% 2010 2010 2010 2009 26,517 25,853 +2.6 Sales 76,272 56,802 +34.3 (2,192) (2,032) +7.9 OPEX (5,994) (5,015) +19.5 Taxes other than income tax (6,905) (7,031) -1.8 (20,594) (13,745)…
Sales Breakdown, million 76,272 75,000 Domestic market Other sales* 17% International market +37.0% Sales of petrochemicals in Russia 60,000 56,802 17% Sales of crude oil in Russia 45,000 +33.7% Sales of petroleum…
Operating expenses Lifting costs, per boe 6 In 9M 2010 operating expenses 5 4.3 4.3 increased by 19.5% y-o-y, which is 4 3.9 4.0 4.1 4.0 4.1 4.0 3.7 mainly explained by general increase in 3.1 3.4 3 operating expenses in the…
11 mln 0 3,000 6,000 9,000 12,000 15,000 18,000 Net income in 9M 2009 5,285 Net increase in revenue* 9,772 Change of the result from currency 236 transaction Increase in equity 65 share in…
12 mln 0 3,000 6,000 9,000 12,000 15,000 18,000 Cash at the beginning of 2010 2,274 Operating activities 11,632 Net movements in short- term debt 725 Proceeds from sale of property and interests in…
CAPEX Breakdown 3Q 2Q 9M 9M ,% million ,% 2010 2010 2010 2009 1,084 1,273 -14.8 Exploration and production 3,474 3,468 +0.2 874 976 -10.5 Russia 2,712 2,939 -7.7 210 297 -29.3 International 762 529 +44.0 311 304 +2.3 Refining…
International Projects of LUKOIL Group Marketable hydrocarbon production in international projects, th. boe per day 230 208 10.1% 189 20039M 2010 growth: +157% 178 180 142 137 130 Kazakhstan Azerbaijan 101…
LUKOIL in West Africa West Africa will become key factor of Company development abroad Deep water exploratory wells were drilled in Ghana and Cote dIvoire (sea depth of about 2,000 m) Total acreage of blocks is 10,500 km2 LUKOIL…
Strong Competitive Position in the Industry FCF in 9M 2010, bln % 18 16.2 ROA CE, % * 16 35 14 30 12 10 9.0 25 8 7.0 20 5.3 6 4.5 4 15 2.1 2.0 2 1.1 0.5 0.5 10 0 Repsol YPF LUKOIL Shell Conocohillips…
LUKOIL Achievements in Investor Relations in 2010 In the XIIIth Annual Contest of Annual Reports held by the RTS Exchange, LUKOIL was voted to be 1 in 2 nominations: Best information disclosure in the Annual Report among…
Conclusion Financial and Investment Policy Highlights: - Increasing free cash flow and Company value growth - Maintaining conservative financial policy, keeping access to domestic and international financial sources comfortable…
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