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9M 2009 FINANCIAL RESULTS – LUKOIL

LUKOIL · Dec 10, 2009 · 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. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 1
    9M 2009 Financial Results (US GAAP) Leonid Fedun, Vice-President of LUKOIL December 2009
  2. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 2
    3Q 2009 Financial Highlights Sales 21,941 mln (+9.1% q-o-q) EBITDA 3,703 mln (-10.1%) Net income 2,056 mln (-11.5%) Net income per boe of production 10.1 per boe (11.5 per boe in 2Q 2009) Free cash flow 1,297 mln (-84 mln…
  3. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 3
    Macroeconomic and Tax Environment 3Q 2009 to 2Q 2009 Positive factors Negative factors Urals 16% Diesel fuel 13% (Europe) Fuel oil 23% (Europe) Diesel fuel 7% (Russia) Gasoline (Russia) 41% Pipeline trans-…
  4. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 4
    Macroeconomic and Tax Environment 9M 2009 to 9M 2008 Positive factors -48% Urals Negative factors R -50% Diesel fuel (Europe) E V -40% Fuel oil (Europe) E N -46% Diesel fuel (Russia) U E -34% Gasoline (Russia)…
  5. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 5
    Main Operating Results 9M 2009 to 9M 2008 (9M 2009 actual level) +3.3% Oil production (1,978 th. barrels per day) -13.9% Marketable gas production (236 th. boe per day) Marketable hydrocarbon +1.1% production (2,214 th.…
  6. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 6
    LUKOIL Refinery Throughputs Are Steadily Growing Group's refinery throughputs reconciliation Refining margin of a Russian (y-o-y), th. barrels per day* cracking refinery, per barrel 40 1,300 10 11 2007 11 1,250 35 123 2008 -29…
  7. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 7
    Non-economic Causes of Less Income Earned Group marketable gas production in Russia, bcm 12 -23.3% (2.3 bcm) Due to the limited gas 8 purchase volumes by Gazprom, LUKOIL earned 4 about 100 mln of pre-tax income less. 0 9M…
  8. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 8
    Financial Results 3Q 2Q 9M 9M ,% million ,% 2009 2009 2009 2008 21,941 20,116 +9.1 Sales 56,802 89,265 -36.4 (1,907) (1,876) +1.7 Operating expenses (5,015) (5,882) -14.7 Taxes other than income tax (5,745) (4,283) +34.1…
  9. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 9
    Operating Expenses 3Q 2Q 9M 9M ,% million ,% 2009 2009 2009 2008 722 665 +8.6 Hydrocarbon lifting costs 1,989 2,421 -17.8 235 233 +0.9 Own refining expenses 670 849 -21.1 Refining expenses at third-party refineries, 165 169…
  10. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 10
    LUKOIL Successfully Controls Operating Expenses Lifting costs, /boe 4.5 LUKOIL managed to decrease hydrocarbon 4.3 4.3 4.0 lifting costs by 19% (in 9M 2009 to 9M 2008) 4.0 3.7 3.7 3.9 3.7 3.6 to 3.39/boe thanks to : 3.5 3.3…
  11. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 11
    SG&A and Transportation Expenses Transportation expenses (1H 2009 to 1H 2008) SG&A expenses 30% 1,100 1,042 1,028 994 20% 16% 948 10% 878 4% 900 0% 800 796 796 791 -3% -2% 729 mln -10% 700 663 -20% -15% -30% -40%…
  12. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 12
    12 mln 0 5,000 10,000 15,000 20,000 25,000 30,000 Net income in 9M 2008 10,765 Decrease in taxes other than income tax (including excise and export tariffs) 13,721 Decrease in income tax 2,141…
  13. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 13
    13 mln 0 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 Cash at the beginning of 9M 2009 2,239 Operating activities 6,073 Net movements of long- term debt 1,683 Net movements…
  14. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 14
    CAPEX Breakdown 3Q 2Q 9M 9M ,% million ,% 2009 2009 2009 2008 1,227 1,123 +9.3 Exploration and production 3,468 6,151 -43.6 1,040 939 +10.8 Russia 2,939 5,439 -46.0 187 184 +1.6 International 529 712 -25.7 352 304 +15.8…
  15. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 15
    Strong Competitive Position in the Industry ROACE, % Net income per boe of production, /boe 40 36 32 3Q 2009: 35 28 LUKOIL 10.1 per boe 30 24 Russia av. 8.0 per boe 25 20 20 16 11.5 15 12 +31% 6.8 10 8 +116% 5 4 0 0…
  16. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 16
    LUKOIL Achievements in Investor Relations in 2009 In the XIIth Annual Contest of Annual Reports held by the RTS Exchange, LUKOIL was voted to be 1 in 3 nominations: The best information disclosure in the annual report among…
  17. 9M 2009 FINANCIAL RESULTS – LUKOIL – slide 17
    Conclusions The Company plans to develop dynamically thanks to: - Start of significant domestic tax burden decrease in 2009 - Optimizing and significantly reducing 2009 CAPEX and OPEX - Hydrocarbon production growth -…

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