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2016 Investor Update Presentation – Repsol S.A.

Repsol S.A. · Apr 1, 2016 · 47 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. 2016 Investor Update Presentation – Repsol S.A. – slide 1
    Investor Update 2016 Repsol Investor Relations 2016-2020 Value & Resilience
  2. 2016 Investor Update Presentation – Repsol S.A. – slide 2
    2016-2020 Value & Resilience 1. Company Overview 2. Key strategic lines 2016-2020 3. Upstream 4. Downstream 5. Gas Natural Fenosa 6. Financial Outlook 7. 2016 Outlook 8. 2015 Results
  3. 2016 Investor Update Presentation – Repsol S.A. – slide 3
    Company Overview 1
  4. 2016 Investor Update Presentation – Repsol S.A. – slide 4
    2016-2020 Value & Resilience Repsol today An integrated company operating across the entire value chain 2.4 billion boe Integrated Delivery on proved reserves business model commitments 700 kboepd Diversified and global…
  5. 2016 Investor Update Presentation – Repsol S.A. – slide 5
    2016-2020 Value & Resilience Repsols Shareholders 12.33% (*) Caixabank S.A. 8.48% Sacyr Vallehermoso, S.A. 4.95% Temasek Institutional Free Float Retail Free Float Investor 60.04% 14.20% Total number of shares as of…
  6. 2016 Investor Update Presentation – Repsol S.A. – slide 6
    Key strategic lines 2016-2020 2
  7. 2016 Investor Update Presentation – Repsol S.A. – slide 7
    2016-2020 Value & Resilience Key strategic lines 2016-2020 VALUE RESILIENCE Shift from growth to value Top tier resilience among integrated delivery, prepared companies for the next growth wave Self-financing strategy even in a…
  8. 2016 Investor Update Presentation – Repsol S.A. – slide 8
    2016-2020 Value & Resilience Key strategic lines 2016-2020 Shift from growth to value // Upstream production evolution // kboepd 1,000 Achieved critical mass in E&P business 800 x2 Extensive portfolio of assets and 600…
  9. 2016 Investor Update Presentation – Repsol S.A. – slide 9
    2016-2020 Value & Resilience Key strategic lines 2016-2020 Portfolio management achievement. Delivery of the 3.1 Bn target for 2016-2017 Sale of our offshore wind power business in the UK for 238 million euros After tax capital gain…
  10. 2016 Investor Update Presentation – Repsol S.A. – slide 10
    2016-2020 Value & Resilience Key strategic lines 2016-2020 Additional Investment reduction for 2016 and 2017 around 1.8Bn // Group annual Investment (1) // B 8 Capex optimization and implementation 46% 35% of our efficiency…
  11. 2016 Investor Update Presentation – Repsol S.A. – slide 11
    2016-2020 Value & Resilience Key strategic lines 2016-2020 Strict accountability on Efficiency Program Pre-tax cash savings // 2016 // // 2018 // Recurrent synergies target increased to Synergies 0.2 B 0.3 B 400M 50% of synergies…
  12. 2016 Investor Update Presentation – Repsol S.A. – slide 12
    2016-2020 Value & Resilience Key strategic lines 2016-2020 Synergies from Talisman integration are already being delivered // 250M in 2016 of which 200M already captured // M 450 400 M/y 400 350 M/y Finance: repurchase of…
  13. 2016 Investor Update Presentation – Repsol S.A. – slide 13
    2016-2020 Value & Resilience Key strategic lines 2016-2020 Breakevens // Group FCF breakeven after dividends and interests (2016-2017)(*) // /bbl 60 45 30 15 0 Strategic Update Plan (*) Scenario used to estimate…
  14. 2016 Investor Update Presentation – Repsol S.A. – slide 14
    2016-2020 Value & Resilience Key strategic lines 2016-2020 Repsol profits from a high Downstream/Upstream leverage // Avg 2010-15 R&M integrated margin (1) x 2015E // Avg 2010-15 R&M integrated margin (1) x 2015E Downstream /…
  15. 2016 Investor Update Presentation – Repsol S.A. – slide 15
    2016-2020 Value & Resilience Key strategic lines 2016-2020 Self-financed Strategic Plan even under the stress scenario B // Cash movements 2016-2020 // Reduction of our capex budget in 2016 below 35 4Bn 30 Investment reduction for…
  16. 2016 Investor Update Presentation – Repsol S.A. – slide 16
    Upstream 3
  17. 2016 Investor Update Presentation – Repsol S.A. – slide 17
    2016-2020 Value & Resilience UPSTREAM 3 core regions in the portfolio North America: Growth Production 2016: 180 kboepd Operatorship: 79% Gas production (2016): 71% Unconventional portfolio Latin America: FCF SouthEast…
  18. 2016 Investor Update Presentation – Repsol S.A. – slide 18
    2016-2020 Value & Resilience UPSTREAM An extensive pipeline of organic opportunities // Exploration // Contingent resources Unconventional North America Brazil: Campos-33, Sagitario Russia: Karabashky Colombia: CPO9 & Niscota…
  19. 2016 Investor Update Presentation – Repsol S.A. – slide 19
    2016-2020 Value & Resilience UPSTREAM Projects activity in 2016 NORTH AMERICA NORTH SEA ALGERIA Redevelopment Reganne & Mon-Arb and Sud-Est-Illizi Flyndre Cawdor Duvernay/G. Edson Marcellus Eagle Ford VIETNAM Red Emperor…
  20. 2016 Investor Update Presentation – Repsol S.A. – slide 20
    2016-2020 Value & Resilience UPSTREAM Portfolio management: Flexibility to optimize capital allocation // Upstream Investments(1) // (Billion ) 6.7 53% 1.9 44% 3.7 17% 1.0 3.1 (2) + 0.4 4.8 2.8 2.7 2014 2015 2016…
  21. 2016 Investor Update Presentation – Repsol S.A. – slide 21
    2016-2020 Value & Resilience UPSTREAM Portfolio management: Capex Capex optimization has no impact on production because we are benefiting from the end of the previous investment cycle from Repsol's legacy assets (Average RRR…
  22. 2016 Investor Update Presentation – Repsol S.A. – slide 22
    2016-2020 Value & Resilience UPSTREAM E&P Cost Efficiency Program // Levers // 1.1 B/y Business units Technical standardization savings Operational uptime increase (Opex & Operational Procurement & logistics optimization by 2018…
  23. 2016 Investor Update Presentation – Repsol S.A. – slide 23
    2016-2020 Value & Resilience UPSTREAM Examples of improvements in Talisman legacy assets UK MARCELLUS Improved Recovery Factor: Marcellus Fracking pricing: Develop a prioritized inventory of qualifying Marcellus frac cost per…
  24. 2016 Investor Update Presentation – Repsol S.A. – slide 24
    Downstream 4
  25. 2016 Investor Update Presentation – Repsol S.A. – slide 25
    2016-2020 Value & Resilience DOWNSTREAM Downstream to provide sustainable value Maximize Taking advantage of the integration between refining and performance marketing businesses with focus on reliability Discipline in capital…
  26. 2016 Investor Update Presentation – Repsol S.A. – slide 26
    2016-2020 Value & Resilience DOWNSTREAM Repsols refining margin indicator evolution Margins back to a mid cycle scenario Base Repsol Crack Index1 2005-2020 Repsol Refining margin index evolution (/bbl) (/bbl) 10 -28% 10 8.8 0.5…
  27. 2016 Investor Update Presentation – Repsol S.A. – slide 27
    2016-2020 Value & Resilience DOWNSTREAM Fundamentals support sustained Repsol refining margins Lower Opex Lower oil and gas prices Growing refined Average demand growth of 1.2% for 2016-2020 on top of strong 2015 demand products…
  28. 2016 Investor Update Presentation – Repsol S.A. – slide 28
    2016-2020 Value & Resilience DOWNSTREAM Downstream efficiency and margin improvement program 0.5 B/y from Downstream efficiency improvement in 2018 // Projects // // Levers // // EBIT increase by 2018 // Energy cost reduction…
  29. 2016 Investor Update Presentation – Repsol S.A. – slide 29
    2016-2020 Value & Resilience DOWNSTREAM 2016-2020 Downstream strategy Maximizing value and cash generation leveraged on fully invested assets // Sustainable value from quality assets // // Investment discipline // Repsol in leading…
  30. 2016 Investor Update Presentation – Repsol S.A. – slide 30
    Gas Natural Fenosa 5
  31. 2016 Investor Update Presentation – Repsol S.A. – slide 31
    2016-2020 Value & Resilience Gas Natural Fenosa Strong profitability with long term strategic vision (*) (*) Dividends received in 2012-2015 period 1.1 bn 32
  32. 2016 Investor Update Presentation – Repsol S.A. – slide 32
    Financial outlook 6
  33. 2016 Investor Update Presentation – Repsol S.A. – slide 33
    2016-2020 Value & Resilience Financial outlook Financial Strategic Plan 2016-2020 Sound track record Resilient Plan with Conservative in managing adverse stronger business profile financial policy conditions Commitment to…
  34. 2016 Investor Update Presentation – Repsol S.A. – slide 34
    2016-2020 Value & Resilience Financial outlook Cash available covers short term maturities (Billion ) 11.1 11.8 0.6 2.0 9.1 9.8 Operating committed 0.6 Credit Lines 5.7 7.9 6.0 5.7 Structural committed Credit Lines 2.0…
  35. 2016 Investor Update Presentation – Repsol S.A. – slide 35
    2015 FULL YEAR RESULTS FINANCIAL ASPECTS (Billion ) 16 12.0 (5.4) 14 4.7 (0.7) 0.5 (0.1) (1.0) 11.9 12 4.0 TALISMAN DEBT 10 8 6 8.0 1 Bn of cash flow generation for debt reduction 4 ACQUISITION PRICE 1.9 2 0 Net Debt…
  36. 2016 Investor Update Presentation – Repsol S.A. – slide 36
    2016 Outlook 7
  37. 2016 Investor Update Presentation – Repsol S.A. – slide 37
    2016-2020 Value & Resilience 2016 Outlook In July Repsol will pay a complementary dividend of 0.30 gross per share. 2016 Downstream business free cash flow 3 billion. Keep our production level at around 700,000 barrels per day in…
  38. 2016 Investor Update Presentation – Repsol S.A. – slide 38
    2015 Results 8
  39. 2016 Investor Update Presentation – Repsol S.A. – slide 39
    2015 FULL YEAR RESULTS MAIN EVENTS Integration of Talisman Strategic Plan 2016-2020: Value and Resilience Challenging macro scenario EBITDA CCS of 5Bn Cash Flow from operating activities of 5.4Bn Cash neutrality break-even…
  40. 2016 Investor Update Presentation – Repsol S.A. – slide 40
    2015 FULL YEAR RESULTS PRICES CONTINUED NEGATIVE TREND // 2015 Brent and Henry Hub // (/bbl) (/Mbtu) 100 Average 2014: 98.9 /bbl 5 90 4.5 Average 2014: 4.4 /MBtu 80 4 -47% 70 3.5 -39% 60 3 50 2.5 Average 2015: 2.7 /MBtu…
  41. 2016 Investor Update Presentation – Repsol S.A. – slide 41
    2015 FULL YEAR RESULTS STRONG CASH GENERATION IN A CHALLENGING SCENARIO // Maintaining EBITDA CCS 2015 vs. 2014 // EBITDA CCS FY 2015 / FY 2014 (%) // at much lower crude prices // Repsol EBITDA Excluding Talisman 106% CCS (B) 100%…
  42. 2016 Investor Update Presentation – Repsol S.A. – slide 42
    2015 FULL YEAR RESULTS SOURCES AND USES OF CASH // Sources and Uses of cash in 2015 // Repsol integrated model delivering strong Bn 7 results in difficult Upstream environment 6 Disposals Downstream acting counter-cycle…
  43. 2016 Investor Update Presentation – Repsol S.A. – slide 43
    2015 FULL YEAR RESULTS ADJUSTED NET INCOME AND NET INCOME BY BUSINESS SEGMENTS Note: Repsol Group made the decision in 2014, prompted by the business reality and in order to make its disclosures more comparable with those in the…
  44. 2016 Investor Update Presentation – Repsol S.A. – slide 44
    2015 FULL YEAR RESULTS ECONOMIC AND OPERATIONAL DATA 45
  45. 2016 Investor Update Presentation – Repsol S.A. – slide 45
    2015 FULL YEAR RESULTS OPERATING RESULT BY BUSINESS SEGMENTS AND GEOGRAPHICAL AREAS 46
  46. 2016 Investor Update Presentation – Repsol S.A. – slide 46
    2015 FULL YEAR RESULTS ADJUSTED NET INCOME BY BUSINESS SEGMENTS AND GEOGRAPHICAL AREAS 47
  47. 2016 Investor Update Presentation – Repsol S.A. – slide 47
    2015 FULL YEAR RESULTS EBITDA BY BUSINESS SEGMENTS AND GEOGRAPHICAL AREAS 48

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