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Q2 2015 Earnings Call – Petrobras

Petrobras · Aug 7, 2015 · 21 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 2015 Earnings Call – Petrobras – slide 1
    RESULTS ANNOUNCEMENT 2nd Quarter 2015 Conference Call / Webcast August, 7th 2015
  2. Q2 2015 Earnings Call – Petrobras – slide 2
    Exchange Rate 3,60 3.60 1H14 FX Rate End of Period 41% 1H15 FX Rate - End of Period 3,40 3.40 R 2.20 R 3.10 3,20 3.20 3,00 3.00 R / US 2,80 2.80 2,60 2.60 2,40 2.40 2,20 2.20 2,00 2.00 FX (R/US) 1Q4 2Q14…
  3. Q2 2015 Earnings Call – Petrobras – slide 3
    Oil Prices - Brent 140 1H14 Average Brent -47% 1H15 Average Brent 130 US 108.93 US 57.95 120 110 100 US / bbl 90 80 70 60 50 40 Average Brent 1Q4 2Q14 3Q14 4Q14 1Q15 2Q15 R 256.48 244.47 231.20 193.73 154.89 190.09…
  4. Q2 2015 Earnings Call – Petrobras – slide 4
    1H15 Net Result: R 5.9 Billion R Billion 1H15 1H14 % Lower prices, especially of exports Sales Revenues 154.3 163.8 Decrease of oil products sales volume Cost of Sales -106.3 -125.9 Gross Profit 48.0 38.0 26 Lower import costs…
  5. Q2 2015 Earnings Call – Petrobras – slide 5
    2Q15 Net Result: R 0.5 Billion R Billion 2T15 1T15 % Higher export volumes at higher prices Sales Revenues 79.9 74.4 Higher sales volumes of oil products Cost of Sales -54.4 -51.9 Gross Profit 25.6 22.4 14 Government take…
  6. Q2 2015 Earnings Call – Petrobras – slide 6
    Highlights Higher oil, NGL and natural gas production (9%, 218 kboed) Operation start-up of Bzios extended well test 1H15 Higher volumes of oil exports (107%, 178 kbpd) Highlights Lower costs of imports and government take…
  7. Q2 2015 Earnings Call – Petrobras – slide 7
    Impairment R 1,580 million US million Fertilizer Plant - UFN V 585.0 Oil and Gas Fields in Brazil and Asset Sales 245.1 Transfer and Export Offshore Unit (UOTE) 198.3 Others 551.4 Allocated on operational expenses: R…
  8. Q2 2015 Earnings Call – Petrobras – slide 8
    Exploration and Production Oil and Gas Production - Brazil and Abroad 1H14 Average +9% 1H15 Average 2,566 2,784 kboed -1% 2,746 2,799 2,803 2,765 2,796 2,531 2,600 96 106 90 100 87 89 95 119 102 Natural Gas Abroad 91 118 122…
  9. Q2 2015 Earnings Call – Petrobras – slide 9
    Exploration and Production Connection of New Wells in Brazil 87 Injectors Producers 72 26 51 42 39 17 12 33 11 61 30 34 28 2012 2013 2014 1H15 2H15 10
  10. Q2 2015 Earnings Call – Petrobras – slide 10
    Downstream Oil Products Output in Brazil kbpd 1H14 Average -6% 1H15 Average 2,152 2.031 +7% 2,180 2,204 2,171 2,124 2,098 1,964 827 832 814 Others 819 790 745 483 496 507 490 437 Gasoline 423 Diesel 822 857 865…
  11. Q2 2015 Earnings Call – Petrobras – slide 11
    Downstream Sales Volume in Brazil kbpd 1H14 Average -7% 1H15 Average 2,407 2,239 2,533 2,487 +1% 2,371 2,443 2,230 2,250 868 833 825 Others 823 750 790 619 616 644 Gasoline 601 573 537 Diesel 947 999 1,049 1,010…
  12. Q2 2015 Earnings Call – Petrobras – slide 12
    Downstream Balance: Oil and Oil Products Balance Evolution (kbpd) (kbpd) Exports Imports Balance 862 447 621 496 291 336 344 166 415 330 170 152 53 -281 -178 -27 -125 -222 -225 -245 -417 -390 -526 -633 1H14…
  13. Q2 2015 Earnings Call – Petrobras – slide 13
    Operating Income Evolution per Segment 1H14 x 1H15 +39% R Billion -19.2 30.7 0.3 -0.3 -4.1 -0.9 22.8 16.4 1H14 Downstream Exploration Gas and Power Others* Corporate Elimination 1H15 Operating and Operating Income…
  14. Q2 2015 Earnings Call – Petrobras – slide 14
    Operating Income Evolution 1H14 x 1H15 R Billion -43% -3.6 10.4 -10.6 19.5 5.9 -9.5 -1.2 0.9 1H14 Sales Revenues COGS Operating Financial Tax Others 1H15 Net Income Expenses Results Net Income 15
  15. Q2 2015 Earnings Call – Petrobras – slide 15
    Operating Income Evolution per Segment 1Q15 x 2Q15 -29% -1.5 -0.2 R Billion 13.3 3.7 -1.4 -2.8 -1.7 9.5 1Q15 Downstream Exploration Gas and Power Others* Corporate Elimination 2Q15 Operating and Operating Income…
  16. Q2 2015 Earnings Call – Petrobras – slide 16
    Operating Income Evolution 1Q15 x 2Q15 R Billion -90% -2.4 -7.0 5.6 5.3 -0.4 0.4 -0.9 0.5 1Q15 Sales Revenues COGS Operating Financial Tax Others 2Q15 Net Income Expenses Results Net Income 17
  17. Q2 2015 Earnings Call – Petrobras – slide 17
    Costs Evolution +1% +17% 38.13 38.49 38.31 32.30 32.71 Real devaluation and higher Lifting Cost* expenses with well intervention and subsea maintenance 14.57 13.27 12.71 14.36 12.99 2Q14 1Q15 2Q15 1H14 1H15 -2% +24% 8.16…
  18. Q2 2015 Earnings Call – Petrobras – slide 18
    Indebtedness Indebtedness Indebtedness (R Billion) 06/30/2015 12/31/2014 Short-term Debt 44,7 31.6 Long-term Debt 370.9 319.5 Total Indebtedness 415.5 351.0 (-) Cash and Cash Equivalents 91.6 68.9 = Net Debt 324.0 282.1…
  19. Q2 2015 Earnings Call – Petrobras – slide 19
    Financial Ratios - Indebtedness 8,0 60% 52% 51% 7,0 48% 50% 43% 40% 6,0 40% 5,0 30% 5,0 4,8 4,8 4,6 4,0 20% 4,1 3,0 10% 2,0 0% 2Q14 3Q14 4Q14 1Q15 2Q15 Net Debt / LTM Adjusted EBITDA Net Debt / EBITDA 1) As of…
  20. Q2 2015 Earnings Call – Petrobras – slide 20
    2015 Cash Flow US Billion 26 -22 13 -12 -10 * 13 * * -28 -16 12 2 26 11 * 2* 20 -12 * 3 3 0.2 * 2015 Initial Operating Interests, Investments Divestments Rollovers Funding Needs 2015 Final Cash Position Cash…
  21. Q2 2015 Earnings Call – Petrobras – slide 21
    RESULTS ANNOUNCEMENT 1ST Quarter 2015

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