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2010 EARNINGS CALL – LUKOIL

LUKOIL · Mar 10, 2011 · 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. 2010 EARNINGS CALL – LUKOIL – slide 1
    2010 Financial Results (US GAAP) Leonid Fedun, Vice-President of LUKOIL March 2011
  2. 2010 EARNINGS CALL – LUKOIL – slide 2
    2010 Financial Highlights Free Cash Flow 6,930 million 2,360 million in 2009) Earnings per share - 10.95 (+32.2% y-o-y) Net Income 9,006 million (+28.5% y-o-y) EBITDA 16,049 million (+19.1% y-o-y) Net income per boe of…
  3. 2010 EARNINGS CALL – LUKOIL – slide 3
    2010 Highlights Development and production agreement at the West Qurna-2 field in Iraq Commissioning of a catalytic cracking unit at the Nizhny Novgorod Refinery Developing of the Integrated Corporate R&D Centre Establishment…
  4. 2010 EARNINGS CALL – LUKOIL – slide 4
    Macroeconomic and Tax Environment 2010 to 2009 Positive factors Urals, 28% Negative factors R E Diesel fuel, 29% V E Fuel oil (Europe), 28% N U Diesel fuel (Russia), 21% E Gasoline (Russia), 22% Freight rates (crude…
  5. 2010 EARNINGS CALL – LUKOIL – slide 5
    Main Operating Results 2010 to 2009 Oil production -1.6%; 1,940 th. barrels per day Marketable gas production 24.5%; 299 th. boe per day Hydrocarbon production 1.2%; 2,239 th. boe per day Refinery throughput * +5.5%;…
  6. 2010 EARNINGS CALL – LUKOIL – slide 6
    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 1,380 30 +15 -12 2009 1,340 +6 -6 25 2010 +8 1,329…
  7. 2010 EARNINGS CALL – LUKOIL – slide 7
    Financial Results 4Q 4Q ,% million 2010 2009 ,% 2010 2009 28,684 24,281 +18.1 Sales 104,956 81,083 +29.4 (1,975) (2,109) -6.4 OPEX (7,969) (7,124) +11.9 Taxes other than income tax (including excise and export (7,262)…
  8. 2010 EARNINGS CALL – LUKOIL – slide 8
    Sales Breakdown, million 104,956 105,000 Domestic market Other sales* International market 17% 90,000 +31.0% 81,083 Sales of petrochemicals in Russia 75,000 17% Sales of crude oil in Russia 60,000 +29.1% Sales of…
  9. 2010 EARNINGS CALL – LUKOIL – slide 9
    Operating Expenses 4Q 2010 4Q 2009 , % million 2010 2009 , % 853 798 +6.9 Hydrocarbon lifting costs 3,241 2,787 +16.3 310 253 +22.5 Own refining expenses 1,088 923 +17.9 Refining expenses at third-party refineries, 190 220…
  10. 2010 EARNINGS CALL – LUKOIL – slide 10
    Operating Expenses Lifting costs, per boe 4.5 +16% In 2010 operating expenses increased by 4.1 4.1 11.9% compared to 2009, which is mainly 4.0 3.6 3.6 explained by real rouble appreciation, 3.5 increase in hydrocarbon…
  11. 2010 EARNINGS CALL – LUKOIL – slide 11
    Technological Evolution Average flow rate of LUKOIL wells, barrels per day High-tech production wells 1,200 1,050 1,000 920 800 700 600 470 400 220 200 110 77 0 Flow rate after Flow rate of Flow rate of…
  12. 2010 EARNINGS CALL – LUKOIL – slide 12
    SG&A and Transportation Expenses Transportation Expenses SG&A expenses, million (2010 to 2009) 4,000 3,860 3,558 -8% 3,500 3,306 6% 3,207 21% 3,000 2,885 -1% 2,500 23% -3% 2,000 2006 2007 2008 2009 2010 -30% -20%…
  13. 2010 EARNINGS CALL – LUKOIL – slide 13
    * 13 million 2,000 6,000 10,000 14,000 18,000 22,000 Net income in 2009 7,011 Net increase in revenue* 12,271 Increase in equity share in affiliates, increase in 715 interest and dividend income and…
  14. 2010 EARNINGS CALL – LUKOIL – slide 14
    14 million 0 3,000 6,000 9,000 12,000 15,000 18,000 Cash at the beginning of 2010 2,274 Cash flow from operating activities 13,541 Net movements of 248 long-term debt Sale of Company's stock…
  15. 2010 EARNINGS CALL – LUKOIL – slide 15
    Sources and Uses of Cash 15,000 Other proceeds Other acquisitions and purchases 12,000 Other proceeds Increase in net debt Other 9,000 Capital expenditures Cash flow from million and acquisition of operating…
  16. 2010 EARNINGS CALL – LUKOIL – slide 16
    CAPEX Breakdown 4Q 4Q ,% million 2010 2009 , % 2010 2009 1,459 1,219 +19.7 Exploration and production 4,933 4,687 +5.2 1,224 977 +25.3 Russia 3,936 3,916 +0.5 235 242 -2.9 International 997 771 +29.3 477 413 +15.5 Refining…
  17. 2010 EARNINGS CALL – LUKOIL – slide 17
    Conclusion Financial and Investment Policy Highlights: - Investment policy focuses on the development of E&P segment, increase of E&P share in total CAPEX - Continuing modernization of Russian refineries under new tax regime -…

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