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9M 2011 FINANCIAL RESULTS – LUKOIL

LUKOIL · Nov 25, 2011 · 19 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 2011 FINANCIAL RESULTS – LUKOIL – slide 1
    9M 2011 Financial Results (US GAAP) November 2011
  2. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 2
    9M 2011 Financial Highlights EBITDA 15,316 million (+28%) Net income 9,012 million (+32% to 9M 2010) Basic earning per share 11.55 (+42%) Net Income per boe of production 15.4 per boe (+39%) Free Cash Flow 7,712 million…
  3. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 3
    Macroeconomic and Tax Environment 9M 2011 to 9M 2010 Brent crude; 45.1% Positive factors R Urals; 43.9% Negative factors E Diesel fuel (Europe); V 43.4% E Gasoline (Europe); 39.6% N U Fuel oil (Russia); 39.5% E Fuel oil…
  4. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 4
    Main Operating Results 9M 2011 to 9M 2010 Crude oil sales (Russia); 22.2% Refined products sales (Russia); 7.4% Refinery throughputs*, throughputs , -1.0% Petroleum p product exports; -4.2% Hydrocarbon…
  5. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 5
    LUKOIL Increases Production of High-Octane Gasoline Refinery throughputs reconciliation Refining margin of a Russian (y-o-y), th. barrels per day* cracking refinery, per barrel 1370 25 +11 +2 -2 -2 -35 2010 1350 +1 1,334 20…
  6. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 6
    Financial Results 3Q 3Q , % million 9M 2011 9M 2010 , % 2011 2010 34,563 26,517 30 Sales 99,101 76,272 30 (2 280) (2,280) (2 131) (2,131) 7 OPEX (6 858) (6,858) (6 165) (6,165) 11 Taxes other than income tax (including…
  7. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 7
    Sharp Increase in Income Tax One-Off Event Income before tax and income tax, million 4,070 LUKOIL subsidiaries in Russia increased accounts 4 000 3,508 receivable and issued loans nominated in US dollars Income tax without 3 500…
  8. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 8
    Quarterly Net Income Reconciliation 3 500 568 3,251 340 3 000 196 32 273 million 2 500 m 166 2,244 2 000 1 500 Net income for 2Q Tax on currency Revaluation of rouble Effect of rouble Increase in…
  9. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 9
    Operating Expenses 3Q 3Q , % million 9M 20119M 2010 , % 2011 2010 889 804 11 Hydrocarbon lifting costs 2,666 2,388 12 383 269 42 Own refining expenses 1 069 1,069 801 34 Refining expenses at third-party 228 183 25 655 534 23…
  10. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 10
    Operating Expenses Lifting costs, per boe 6 9M 2011 operating expenses increased by 5 4.37 4.52 4.93 4.76 4 07 4.07 4 07 4.07 4 08 4.08 11.2% y-o-y. 4 3.97 Lifting costs increased in 3Q 2011 by 3 10.6% y-o-y 2 1 0…
  11. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 11
    SG&A and Transportation Expenses Transportation expenses (9M 2011 to 9M 2010) SG&A expenses, million 1,100 -16% 1,043 ,0 3 1,001 977 908 902 -27% 878 900 853 825 802 791 9% 700 -1% 15% 500 -3% 300 -70% -50% -30%…
  12. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 12
    12 mln * 2 500 5 000 7 500 10 000 12 500 15 000 17 500 20 000 0 Net inc come in 9M 2010 0 6,820 Net incrrease in revenue e 10,773 Net loss attributable to 91 noncontrrolling interests Change…
  13. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 13
    13 mln 3 000 6 000 9 000 12 000 15 000 0 Cash at the begin ninning of 2011 2,368 Cash flow from operating es activitie 13,299 Acquisition of su ubsidiaries and non-conttrolling interests (inc cluding…
  14. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 14
    LUKOIL Continues to Increase Free Cash Flow Free cash flow, mln 8,000 2,998 7,712 2,701 6,930 7,000 2,500 2,013 6,000 1,500 1q 2011 2q 2011 3q 2011 5,000 4,000 3,775 3,000 2 360 2,360 2,115 2,000 1,555…
  15. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 15
    CAPEX Breakdown 3Q 3Q ,% million 9M 2011 9M 2010 ,% 2011 2010 1,565 1,080 45 Exploration and production 4,489 3,458 30 1,146 870 32 Russia 3,581 2,696 33 419 210 100 I International i l 908 762 19 354 311 14 Refining and…
  16. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 16
    Robust Financial Position Total debt and net debt, bln 12,000 10,653 -9% 9,719 10 000 10,000 8,000 6,576 5,278 LUKOIL net debt decreased by 1.3 bln 6,000 in 9M 2011 (-25%) 4,000 2,000 4,077 4,441 0 30.06.2011…
  17. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 17
    LUKOIL Shows the Best Financial Results in the Russian Oil Industry EBITDA* per boe, per boe Net income per boe, per boe 28 0 28.0 26 2 26.2 15.4 24.6 15.0 24.0 13.5 21.2 20.4 20.2 12.7 12.5 19.5 20.0 10.8 11.1 15.3 16 0…
  18. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 18
    Robust Competitive Position in the Industry Net income per boe, per boe Lifting costs per boe, per boe 15 40 35 12 30 25 9 20 15 6 10 3 5 0 2003 2004 2005 2006 2007 2008 2009 2010 9M 2011 0 2006 2007 2008 2009 2010…
  19. 9M 2011 FINANCIAL RESULTS – LUKOIL – slide 19
    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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