WEBCAST CONFERENCE CALL Second Quarter 2014 Results July 24th, 2014 Repsol Investor Relations www.repsol.com
Second Quarter 2014 Results 1. Closing of the Agreement with the Republic of Argentina 2. Operational Activity and Main highlights 3. Quarterly Results 4. Conclusions 3
Closing of the Agreement with the Republic of Argentina 1 4
Closing of the Agreement with the Republic of Argentina Sale of the Distribution of Closing of the Sale of the 12.34 Argentinean an extraordinary Agreement % stake of YPF sovereign bonds dividend The Republic of Repsol sold…
Credit Rating Agencies Upgrades of Repsols rating. Moody's upgraded Repsol's long-term rating to Baa2 from Baa3 with stable outlook. Fitch upgraded Repsols long-term rating from BBB- to BBB with positive outlook. Standard &…
Operational Activity and Main Highlights 2 7
Operational Activity 2Q 2014: Upstream Exploration USA (Alaska) Kurdistan Mauritania Namibia Six wells have been concluded in 2Q 2014 of which two were positive in Alaska 8
Operational Activity: Upstream Latest news from Exploration Russia Successful winter campaign Trinidad & Tobago* Brazil Seat 2 well found a 300 meters good quality hydrocarbon column Positive news from our…
Operational Activity: Upstream Currently drilling USA (Alaska) USA Libya Colombia Liberia Brazil Angola We continue with an intensive drilling activity 10
Main Highlights of 2Q 2014 Production Increased our production -6% year-on-year in Brazil, the Unites States, Russia, Bolivia and Peru 359 338 Kboed Kboed Stoppage in Libya 2Q2013 2Q2014 Maintenance work in Trinidad &…
Main Highlights of 2Q 2014 Key Growth Projects: Brazil Sapinho Brazil Carioca-Lapa Brazil 4th producing well started production on July 7th The development Wells productivity at about 30,000 bpd plan has been Reached 120,000…
Main Highlights of 2Q 2014 Key Growth Projects: USA Mississippian USA Lime Development production ramp- up ongoing 13
Main Highlights of 2Q 2014 Key Growth Projects : Venezuela Venezuela Cardn IV Development as planned 14
Main Highlights of 2Q 2014 Key Growth Projects : Algeria Reggane Algeria Recently awarded the EPC contract 15
Main Highlights of 2Q 2014 Downstream Refining Margin Indicator Petrochemicals businesses 2Q 2013 2.6 Efficiency and product enhancement 2Q 2014 3.1 programs helped to 0 1 2 3 deliver positive results /bbl Utilization rates…
Quarterly Results 3 17
Results Summary 2Q 2014 2Q 2013 2Q 2014 % Variation Adjusted Net Income 401 390 -2.7% Net Income 267 520 +95% Million 1S 2014 1S 2013 1S 2014 % Variation Adjusted Net Income 925 922 -0.3% Net Income 901 1,327 +47%…
2Q 2014 Upstream Results Adjusted Net Income 285 Absence of production in M Libya -49% Increased production ex 145 Libya M Higher crude and gas prices 2Q13 2Q14 Higher exploration costs 19
2Q 2014 Upstream Results Adjusted Net Income 2Q 2013 2Q 2014 % Variation Adjusted Net Income 285 145 -49% Million 20
2Q 2014 Downstream Results Adjusted Net Income 32% Refining: Resilient margins 162 M despite tough environment 123 2.2 dollars per barrel of M premium margin Petrochemicals: Efficiency programs implemented Commercial…
2Q 2014 Downstream Results Adjusted Net Income 2Q 2013 2Q 2014 % Variation Adjusted Net Income 123 162 32 % Million 22
2Q 2014 Gas Natural Fenosa Results Adjusted Net Income 24% 159 M 128 M 2Q13 2Q14 23
Quarterly Results Financial Situation (Figures Ex Gas Natural) Net financial Debt 5.4 bn -3 bn 2.4 bn 2013 2Q14 Liquidity remains healthy at more than 11 billion euros 24
Conclusions UPSTREAM More than 30 Kboed added from our key growth projects year-on-year. Sapinhoa first phase completed successfully. DOWNSTREAM Our business showed again its capacity to weather the current adverse situation.…
Q&A Session Second Quarter 2014 Results
WEBCAST CONFERENCE CALL Second Quarter 2014 Results July 24th, 2014 Repsol Investor Relations www.repsol.com