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ANNUAL REPORT 2014 – Maersk Oil

Maersk Oil · Feb 25, 2015 · 18 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. ANNUAL REPORT 2014 – Maersk Oil – slide 1
    Annual Report 2014 25 February 2015 - Conference call 9.30am CET webcast available at www.maersk.com
  2. ANNUAL REPORT 2014 – Maersk Oil – slide 2
    page 3 Strategic Highlights 2014 We have created value and strengthened our competitive positions. We shared the value creation through increased dividends and our first share buy-back Major portfolio optimisation initiatives…
  3. ANNUAL REPORT 2014 – Maersk Oil – slide 3
    page 4 Financial Highlights 2014 Group Financial Highlights Group profit reached USD 5.2bn, highest USDm 2013 2014 result to date and an increase of 38% on the 6,000 2013 result (USD 3.8bn) 5,195 5,000 Group ROIC reached 11.0%…
  4. ANNUAL REPORT 2014 – Maersk Oil – slide 4
    page 5 Financial Highlights Q4 2014 Group Financial Highlights The Group increased the underlying profit USDm Q4 2013 Q4 2014 for Q4 by 68% to USD 1bn mainly driven 1,400 by strong performance in Maersk Line 1,200 1,025 The Group…
  5. ANNUAL REPORT 2014 – Maersk Oil – slide 5
    page 6 APMM to divest the 20% ownership stake in Danske Bank and to dividend the proceeds of around USD 5.5bn* out as cash A.P. Mller Mrsk (APMM) has today announced the plan to distribute the value of its 20% ownership share in…
  6. ANNUAL REPORT 2014 – Maersk Oil – slide 6
    page 7 Maersk Line results Q4 Q4 FY FY (USD million) 2014 2013 2014 2013 Highlights Q4 2014 Revenue 6,912 6,450 27,351 26,196 Maersk Line delivered a profit of USD 655m, the strongest fourth quarter to date and more than double…
  7. ANNUAL REPORT 2014 – Maersk Oil – slide 7
    page 8 Delivering further cost reductions Unit cost including VSA income (USD/FFE) Highlights Q4 2014 3,200 3,092 3,097 Total cost increased by 1.9% (USD 116m) 3,012 3,010 against a volume increase of 9.8% 3,000 2,871 2,742…
  8. ANNUAL REPORT 2014 – Maersk Oil – slide 8
    page 9 Maersk Oil results Q4 Q4 FY FY (USD million) 2014 2013 2014 2013 Highlights Q4 2014 Revenue 1,843 2,492 8,737 9,142 Maersk Oils underlying profit decreased by 50% 210 278 765 1,149 to USD 150m, mainly due to 30% lower oil…
  9. ANNUAL REPORT 2014 – Maersk Oil – slide 9
    page 10 Adapting to lower oil price The Al Shaheen field, Qatar OPEX Double-digit percentage cut on Maersk Oils OPEX level Production portfolio reviewed with potential impact on high opex fields and wells Negotiating terms…
  10. ANNUAL REPORT 2014 – Maersk Oil – slide 10
    page 11 APM Terminals results Q4 Q4 FY FY 2014 2013 2014 2013 Highlights Q4 2014 Revenue 1,124 1,102 4,455 4,332 Profit decreased to USD 117m (USD 222m) due EBITDA 229 231 1,010 892 to an impairment of USD 102m after tax related…
  11. ANNUAL REPORT 2014 – Maersk Oil – slide 11
    page 12 Maersk Drilling results Q4 Q4 FY FY (USD million) 2014 2013 2014 2013 Highlights Q4 2014 Revenue 635 473 2,102 1,972 Maersk Drillings profit decreased by 37% to USD 53m, driven by a USD 74m after tax EBITDA 286 165 903…
  12. ANNUAL REPORT 2014 – Maersk Oil – slide 12
    page 13 APM Shipping Services results Q4 Q4 FY FY (USD million) 2014 2013 2014 2013 Highlights Q4 2014 Revenue 1,455 1,602 5,926 6,438 APM Shipping Services reported a loss of USD 454m (loss of USD 66m) and ROIC of negative…
  13. ANNUAL REPORT 2014 – Maersk Oil – slide 13
    page 14 Continued focus on performance Invested ROIC % ROIC % ROIC % Development in invested capital since Q2 Business capital 2012 Q4 2014* Q4 2013* FY 2014 (USDm) Group 49,927 2.3% 7.8% 11.0% Maersk Drilling 94% Maersk…
  14. ANNUAL REPORT 2014 – Maersk Oil – slide 14
    page 15 A strong financial framework Well capitalised position Active portfolio management Net debt reduction of USD 3.9bn since Q4 2013 and USD 7.6bn Cash flow from divestments has been USD 11.3bn with divestment since Q4 2011…
  15. ANNUAL REPORT 2014 – Maersk Oil – slide 15
    page 16 Consolidated Financial Information Income statement (USD million) Q4 2014 Q4 2013 Change FY 2014 FY 2013 Change Revenue 11,715 11,984 -2.2% 47,569 47,386 0.4% EBITDA 2,618 2,647 -1.1% 11,919 11,372 4.8% Depreciation, etc.…
  16. ANNUAL REPORT 2014 – Maersk Oil – slide 16
    page 17 Guidance for 2015 The Group expects an underlying result slightly below APM Shipping Services expects the underlying result for USD 4bn (USD 4.1bn) excluding Danske Bank. Gross cash 2015 to be above the 2014 result (USD…
  17. ANNUAL REPORT 2014 – Maersk Oil – slide 17
    page 18 Final remarks Maersk Line vessel calling Namibia The Group reported strong financials for 2014. We will continue to create value through; Profitable growth Creating winning businesses Portfolio optimisation…
  18. ANNUAL REPORT 2014 – Maersk Oil – slide 18
    Q&A - To ask a question please press * then 01

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