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Q2 2013 EARNINGS CALL – Eni S.P.A

Eni S.P.A · Aug 1, 2013 · 24 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. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 1
    interim update and Q2 results August 1st, 2013 eni.com
  2. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 2
    H1 was affected by volatility, economic headwinds Production disruptions Libya unrest, escalation of bunkering, volatility in Nigeria Libya security issues, labour disputes: ca. 20 kboe/d in H1 Nigeria flooding, bunkering, sabotage:…
  3. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 3
    ... but underlying progress was strong in E&P... E&P: strengthened building blocks of long-term growth Key start-ups: achieved 6 out of 8 scheduled for 2013 ((MLE,, CAFC,, El Merk,, Junin EP,, Abo Ph.3 & A-LNG)) Exploration:…
  4. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 4
    ... and we took more incisive steps to counter market weakness G&P: further strengthened renegotiation efforts Closed o d satisfactory a a o y agreements ag with some o major ajo suppliers upp Working on further significant…
  5. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 5
    ... whilst delivering a much improved balance sheet Net financial position (bn) 26.9 16 13 Q212 YE 2012 Q213 Pro forma* 0.55/share interim dividend proposal, in line with expectations *adjusted to include 3.5bn of…
  6. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 6
    market environment Average European Brent / exchange rate refining margin* /bbl /bbl /bbl /bbl 120 120 8 8 1,35 7 7 110 110 6 6 1,3 100 100 5 5 90 90 4 4 1,25 3 3 80 80 2 2 70 70 Q212 Q312 Q412 Q113 Q213 1 1…
  7. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 7
    Q2 consolidated results Adj. operating profit * Adj. net profit * Million Million 3,997 1,289 1,947 576 5 6 Q212 Q213 Q212 E&P G&P R&M E&C and Q2 13 Other *Figures exclude Snam contribution in Q2 2012 8
  8. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 8
    E&P performance Oil & gas production Adj. operating profit kboe/d Million 1,718 1,747 1,656 1,600 1,648 4,867 4,239 4 331 4,331 3,999 3,409 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Gas Oil 9
  9. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 9
    G&P performance Gas sales Adj. operating profit Bcm Million 29.5 42 24.4 19.6 18.8 18.4 -227 -304 -401 401 -436 436 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 International* Italy *…
  10. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 10
    R&M performance Process utilization index Adj. operating profit % Million 51 69 70 68 61 60 -7 -142 -152 -174 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 Q2 12 Q3 12 Q4 12 Q1 13 Q2 13 11
  11. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 11
    other businesses: adjusted operating profit million Q2 Q2 % 2012 2013 Versalis (25) (82) n.s. Engineering & Construction 389 (680) n.s. Other activities (57) (52) 9 Corporate (99) (76) 23 12
  12. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 12
    net debt evolution billion 2.2 0.1 16.5 16.0 2.0 2.8 2.4 Mar 2013 Operating Divestments Capex Dividends Others Jun 2013 cashflow 13
  13. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 13
    2013 Outlook 2013 production: E&P up 3% at 90/bbl, excluding Nigeria, Libya impact broadly flat at current prices, Libya and Nigeria at H1 levels 2013 results: lt G&P temporarily lower than guidance where benefits are deferred…
  14. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 14
    Appendix August 1st, 2013 eni.com
  15. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 15
    results of operations million Q2 12 Q2 13 H1 12 H1 13 % 30,063 28,111 Net sales from operations 63,203 59,276 2,791 1,459 Operating Profit 9,340 5,293 (43.3) 326 326 Exclusion of inventory holding (gains) losses (86) 336 3,117…
  16. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 16
    G&P: adjusted operating profit by activities million -8.7% (401) (436) 93 International Transport 21 Marketing -494 -457 Q2 12 Q2 13 3
  17. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 17
    unrealized intragroup profit eliminations million Q2 12 Q2 13 E&P vs R&M 107 42 E&P vs G&P (5) (28) E&C vs Eni Group (9) 16 Insurance vs Eni Group 0 8 Total 93 38 4
  18. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 18
    eni share of profit from investments million Q2 2012 2013 Equity method accounted for 167 135 Gas transportation abroad 5 4 EnBw (GVS) 50% 2 4 Union Fenosa 45 35 Blue Stream Pipeline Co BV 10 12 Others 105 80 Dividends 130…
  19. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 19
    G&P share of profit from associates million -28% 78 5 56 4 73 52 Q2 12 Q2 13 Marketing International Transport 6
  20. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 20
    main operating data Q2 12 Q2 13 H1 12 H1 13 % 1,656 1,648 Hydrocarbon prod. (kboe/d) 1,669 1,624 (2.7) 144.6 140.3 Production sold* (mmboe) 293.8 276.1 (6.0) Natural gas sales: 6.52 6.50 in Italy**(bcm) 18.67 19.03 1.9 13.03…
  21. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 21
    production by geographical area kboe/d -0.5% 1,656 1,648 337 332 120 120 110 110 106 105 333 322 573 598 187 181 Q2 12 Q2 13 Italy North Africa Sub-Saharan Africa Kazakhstan America RoW 8
  22. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 22
    oil & gas production kboe/d -0.5% 1,656 1,648 1,656 1,648 187 181 856 845 1,469 1,467 800 803 Q2 12 Q2 13 Q2 12 Q2 13 Abroad Italy Gas Liquids 9
  23. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 23
    capex million (6.7)% 128 3,015 2,812 166 151 126 231 57 53 2,437 2,563 Q2 12 Q2 13 -85 E&P G&P R&M E&C Other 10
  24. Q2 2013 EARNINGS CALL – Eni S.P.A – slide 24
    eni consolidated results 75% -58% 0.38 EPS 0.07 0.04 Euro per share* 0.16 Q2 12 Q2 13 Q2 12 Q2 13 Adjusted Adjusted 6% -18% 1.01 0.83 CFPS 0.70 0.74 Euro per share* Q2 12 Q2 13 Q2 12 Q2 13 Adjusted Adjusted *…

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