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Q1 2013 EARNINGS CALL – Maersk Oil

Maersk Oil · May 17, 2013 · 29 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. Q1 2013 EARNINGS CALL – Maersk Oil – slide 1
  2. Q1 2013 EARNINGS CALL – Maersk Oil – slide 2
    Forward-looking Statements This presentation contains forward-looking statements. Such statements are subject to risks and uncertainties as various factors, many of which are beyond A.P. Mller - Mrsk A/S control, may cause actual…
  3. Q1 2013 EARNINGS CALL – Maersk Oil – slide 3
    Executing on Group strategy Q1 2013 Profit was USD 790m and ROIC was 8.0% Maersk Line reduced unit costs mainly through vessel network efficiencies and increased rates enabled through active capacity adjustments Maersk Oil executed…
  4. Q1 2013 EARNINGS CALL – Maersk Oil – slide 4
    Group Financial Highlights Q1 2013 Group Financial Highlights Group Financial Highlights USD million Q1 2012 Q1 2013 Reported profit was USD 790m (versus USD 1.2bn in 1,500 Q1 2012). Profit excluding one-offs improved to USD 1,175…
  5. Q1 2013 EARNINGS CALL – Maersk Oil – slide 5
    Maersk Line Q1 Q1 FY Highlights Q1 2013 (USD million) Change 2013 2012 2012 Maersk Line profit of USD 204m (USD -599m) Revenue 6,313 6,312 1 27,117 Unit cost decreased by 7.1% (-221 USD/FFE vs. Q1 2012) EBITDA 631 -162 793 2,179…
  6. Q1 2013 EARNINGS CALL – Maersk Oil – slide 6
    Maersk Line Recent Developments Maersk Line has reduced the number of slots offered on the Asia-Europe trade as a consequence of the declining market Maersk Lines GRI initiative to lift reefer rates to a sustainable level has had a…
  7. Q1 2013 EARNINGS CALL – Maersk Oil – slide 7
    Maersk Oil Q1 Q1 FY Highlights Q1 2013 (USD million) Change 2013 2012 2012 Revenue 2,381 2,538 -157 10,154 Profit of USD 346m (USD 1,293m) negatively impacted by lower production share and lower oil prices. The profit for Q1 2012…
  8. Q1 2013 EARNINGS CALL – Maersk Oil – slide 8
    Maersk Oils Key Projects 2013-2014 Sanctioned development projects Project (Country) First Working Net Capex Plateau Production Production Interest (USD Billion) (Entitlement, boepd) El Merk (Algeria) On stream 11% 0.5 15,000 Dunga…
  9. Q1 2013 EARNINGS CALL – Maersk Oil – slide 9
    Maersk Oils portfolio Exploration Resources Project Maturation Process Reserves Production Prospects in Initiate & the pipeline Discoveries Assess Select Define Execute Assets Diamante Torvastad Dunga III Farsund Denmark Mangesh…
  10. Q1 2013 EARNINGS CALL – Maersk Oil – slide 10
    Reserve and resource base (million boe) End 2011 End 2012 Proved reserves (1P) 443 410 Probable reserves (2Pincrement) 151 209 Proved and Probable reserves (2P) 594 619 Contingent resources (2C) 790 740 Reserves &…
  11. Q1 2013 EARNINGS CALL – Maersk Oil – slide 11
    APM Terminals Q1 Q1 FY Highlights Q1 2013 (USD million) Change 2013 2012 2012 Revenue 1,040 1,065 -25 4,206 Profit of USD 166m (USD 226m). Excluding gains, restructuring and impairments the profit was USD 161m EBITDA 201 222 -21…
  12. Q1 2013 EARNINGS CALL – Maersk Oil – slide 12
    Maersk Drilling Q1 Q1 FY Highlights Q1 2013 (USD million) Change 2013 2012 2012 Revenue 480 433 47 1,683 Profit increased by 18.7% to USD 146m (USD 123m). The improvement was mainly due to general higher operational EBITDA 238 211…
  13. Q1 2013 EARNINGS CALL – Maersk Oil – slide 13
    Opportunistic core businesses Profit by activity* Profit from Opportunistic core businesses was USD 73m (USD 55m) due to a comparatively smaller loss for Maersk Tankers USD million Q1 2012 Q1 2013 Maersk Supply Service Profit…
  14. Q1 2013 EARNINGS CALL – Maersk Oil – slide 14
    Strategic investments and other Profit by activity* Dansk Supermarked USD million Q1 2012 Q1 2013 The strategic transformation programme of Danske Supermarked initiated in 2012 is on track and the first results of the projects have…
  15. Q1 2013 EARNINGS CALL – Maersk Oil – slide 15
    Consolidated Financial Information Income statement (USD million) Q1 2013 Q1 2012 Change FY 2012 Revenue 14,047 14,327 -2.0% 59,089 EBITDA 2,890 2,467 17.2% 12,252 Depreciation, etc. 1,080 1,220 -11.5% 5,211 Gain on sale of…
  16. Q1 2013 EARNINGS CALL – Maersk Oil – slide 16
    Cash flow and debt The Group reduced its net interest-bearing debt by USD 1.1bn to USD 13.4bn compared to end-2012 Cash flow from operating activities improved to USD 2.4bn (USD 1.1bn) Cash flow used for capital expenditure was USD…
  17. Q1 2013 EARNINGS CALL – Maersk Oil – slide 17
    Outlook for 2013 The Group still expects a result for 2013 below the 2012 result (USD 4.0bn). Sensitivities for the remainder of 2013 The net result is expected to be in line with 2012 (USD 2.9bn) excluding impairment losses, divestment…
  18. Q1 2013 EARNINGS CALL – Maersk Oil – slide 18
  19. Q1 2013 EARNINGS CALL – Maersk Oil – slide 19
  20. Q1 2013 EARNINGS CALL – Maersk Oil – slide 20
    Consolidated Financial Information Income statement (DKK million) Q1 2013 Q1 2012 Change FY 2012 Revenue 79,324 81,311 -2.4% 342,363 EBITDA 16,318 14,004 16.5% 70,986 Depreciation, etc. 6,103 6,931 -12.0% 30,193 Gain on sale of…
  21. Q1 2013 EARNINGS CALL – Maersk Oil – slide 21
    Group Business Drivers Q1-13 Q4-12 Q1-12 Change vs Change vs Comment previous quarter previous year to Q1 (vs Q1 2012) Transported container 2.1 2.0 2.2 5% -4% volumes, mill FFE Average container freight 2,770 2,846 2,646 -3% +5% rate,…
  22. Q1 2013 EARNINGS CALL – Maersk Oil – slide 22
    Return on Invested Capital Group ROIC 2005-Q1 2013 Breakdown of ROIC by business Business Invested ROIC % ROIC % capital Q1 2013 Q1 2012 USDm 18% 15.9% 16% A. P. Moller 53,086 8.0 10.2 14% Maersk Group 12.2% 12% Maersk Line…
  23. Q1 2013 EARNINGS CALL – Maersk Oil – slide 23
    Capital is focused on our core growth business Invested capital Our portfolio strategy towards 2017 Maersk Line Maersk Oil APM Terminals Maersk growth strategy continues with invested capital Maersk Drilling Other growing 1.6%…
  24. Q1 2013 EARNINGS CALL – Maersk Oil – slide 24
    Maersk Line EBIT margin gap to peers EBIT-margin, % EBIT-margin, pp 25% 25% 20% 20% 15% 12.8% 15% 10.4% 10% 7.3% 7.0% 6.4% 10% 4.8% 4.6% 5.1% 5.6% 4.9% 5.4% 5% 2.9% 3.6% 2.8% 3.7% 5% 0.7% 1.1% 1.3% 0.9% 0% 0% -0.4% -5%…
  25. Q1 2013 EARNINGS CALL – Maersk Oil – slide 25
    Maersk Oils Share of Production and Exploration Costs Maersk Oils share of production (000 boepd) 350 300 250 200 150 100 50 0 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2011* 2011* 2011* 2012* 2012* 2012 2012 2013 DK UK Qatar Algeria…
  26. Q1 2013 EARNINGS CALL – Maersk Oil – slide 26
    APM Terminals financials including pro-rata share of joint ventures and associates (USD million) Q1 2013 Q1 2012 Share of JVs & Share of JVs & Consolidated Total Consolidated Total ass. ass. Revenue 1,040 275 1,315 1,065 223 1,288…
  27. Q1 2013 EARNINGS CALL – Maersk Oil – slide 27
    Impact from IFRS 11 Joint Arrangements Revenue Restated in APM Terminals and SVITZER Reported accordance with (USD million) Change Several joint ventures 2012 IFRS 2012 Revenue 59,036 59,089 53 Maersk Drilling APM Terminals 4,780…
  28. Q1 2013 EARNINGS CALL – Maersk Oil – slide 28
    Impact from IFRS 11 Joint Arrangements Profit and loss* Restated in Changes are due to financial items and Reported accordance with tax related to these, which are now (USD million) Change 2012 IFRS stated in the net result from the…
  29. Q1 2013 EARNINGS CALL – Maersk Oil – slide 29

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