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H1 2015 Earnings Call – S.N.G.N. RomGaz S.A.

S.N.G.N. RomGaz S.A. · Aug 14, 2015 · 20 slides

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Slides

  1. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 1
    ROMGAZ August 2015
  2. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 2
    Company Overview Largest Reserve Holder, Producer and Supplier of Natural Gas in Romania Onshore mature natural gas reserves base1: 1P 62 bcm, 2P 75 bcm Gas 140 commercial gas fields, Significant onshore and offshore exploration…
  3. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 3
    Key Financials for 2012 H1/2015 Romgaz maintained strong profitability in H1/2015 Revenues in line with the budget, -12% y/y in H1 on lower gas sales (Romanian gas markets evolution and market structural changes after end-2014) and…
  4. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 4
    Factors with impact on financial results Regulated domestic gas production prices in Romania vs imports level 134 128 139 140 128 123 122 122 118 107 111 120 RON / MWh 100 89.4 89.4 89.4 80 63.4 68.3 72.0 55.3 53.3 53.3…
  5. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 5
    Financial Performance in H1/15 Profit and loss account Profitability remained elevated in H1/15, margins roughly flat y/y Selected P&L items RON RON mln 2012 2013 2014 H1/14 H1/15 Breakdown of Revenues Revenues - of which 3,838…
  6. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 6
    Financial Performance Balance Sheet Summary Robust Balance Sheet Structure, Debt-free in H1/15 as well Selected Balance Sheet Items Selected Cash Flow Items End- RON mln 2012 2013 2014 H1/15 RON mln 2012 2013 2014 H1/15 Total…
  7. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 7
    Key Financial Data Significant investments, Healthy FCF combined with a +50% Dividend Payout Ratio Capital Expenditures (RON mln) EBITDA Breakdown (RON mln) 197 +28% Equipment modernization, exploitation 1,000 drilling,…
  8. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 8
    Gas Resource Overview in the Country Mature Market With Long History of Production and Significant Upside Opportunities Total Gas Consumption in Romania 2006 H1/15 (bcm) 17.3 Brodina 16.4 15.5 13.8 14.2 5.2 13.1 13.5 4.8 12.5…
  9. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 9
    Romgaz: Reserves and Resources Sizeable reserve base with a signification portion proven developed Audited Reserves1 and Contingent Resources2 June 2013 (bcm, % of total) Revisions and New Discoveries Reserves Replacement Ratio (%)…
  10. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 10
    Exploration Overview Efforts undertaken to unlock significant resource potential Finalised 3D seismic acquisition. for period 2011-2016 Petroleum agreements for 9 onshore exploration blocks (about 17,650 km across the Transylvania,…
  11. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 11
    Production of Natural Gas Arresting Production Decline via Application of New Technologies Romgaz Annual Production Levels bcm (2000-H1/15) 1) Arresting Production Decline Enhanced Production from Selected Fields2) 0.4% 0.2%…
  12. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 12
    The Company: Business & Operations Natural Gas Production Successful production enhancement in some key fields Compressor added Compressor Compressoradded Compressor added added Compressor added Start of Start…
  13. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 13
    Commercialising the Gas Total Gas Supply and main Customers Largest Supplier of Gas in Romania (Domestic Production + Imports) Breakdown of volume gas sales: 60.0% to Households and thermal plants for the gas used for Households…
  14. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 14
    Storage and Power Romgaz is the Largest Owner and Operator of Gas Underground Storage Facilities in Romania Romgaz Entered the Power Segment with the Acquisition of Iernut Power Plant (CTE Iernut) Underground Gas Storage Electricity…
  15. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 15
    Main strategic goals Enhanced recovery and development of already discovered resources Increase of the gas resources - Extend the life of and the amounts recoverable from existing fields and reserves portfolio through - Appraisal of…
  16. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 16
    Management Agenda 2014-2015 Maintain the gas production decline below 1.5%/year Investments over Continue to 1.1 billion RON, increase the mainly in companys exploration and performance production Modernisation…
  17. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 17
    Key Achievements 2014 - 2015 Selected Events March 26, 2014 April 9, 2014 June 11, 2014 June-July, 2014 Govt issued Order no. 13 / ANRE issued Order no. 29/2014 Govt issued Ordinance no. 35 / 2014 The Ordinary Meetings of 2014 to…
  18. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 18
    19
  19. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 19
    Shareholder Structure and Stock Performance Current shareholding structure: the Romanian State (Ministry of Energy, SMEs and Business Environment) majority shareholder with a 70% stake; Property Fund (listed entity) - 10%; free float…
  20. H1 2015 Earnings Call – S.N.G.N. RomGaz S.A. – slide 20
    The Board: Balanced Team of Privatisation Experts, Legal & Fiscal Advisors and Industry Specialists Nominalization Audit & Remuneration Committee The Board of Directors Committee Aurora Negrut Chairperson Strategy Non-executive…

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