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FY 2015 Financial and Operating Results – Gazprom Neft

Gazprom Neft · Mar 2, 2016 · 26 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. FY 2015 Financial and Operating Results – Gazprom Neft – slide 1
    FY2015 IFRS FINANCIAL AND OPERATING RESULTS March 2, 2016, Saint-Petersburg
  2. FY 2015 Financial and Operating Results – Gazprom Neft – slide 2
    Agenda Highlights, Alexey Yankevich Financials Member of the Management Board, CFO Upstream Alexander Mikheev Head of Economics and Investment Department, Exploration and Production Division Downstream Vladimir Konstantinov…
  3. FY 2015 Financial and Operating Results – Gazprom Neft – slide 3
    Highlights FY2015 Financial Performance: Sales: RUB 1,656 bln (-2.1% Y-o-Y) EBITDA*: RUB 405 bln (+18.2% Y-o-Y) Net Income: RUB 110 bln (-10.2% Y-o-Y) reflects significant negative FX effect in 2015 Operational Progress in…
  4. FY 2015 Financial and Operating Results – Gazprom Neft – slide 4
    Exploration and Production Hydrocarbon production volumes continue to rise as focus remains on cost management and efficiency Gazprom Neft 5
  5. FY 2015 Financial and Operating Results – Gazprom Neft – slide 5
    Key exploration and production results Hydrocarbon production rose by 20% y-o-y Maintained production levels at mature fields Reached planned production levels for 2015 at major projects: Novy Port 0.35 MMToe Prirazlomnoye 0.87…
  6. FY 2015 Financial and Operating Results – Gazprom Neft – slide 6
    High reserves replacement ratio due to acquisitions and organic growth despite lower crude price Change in PRMS (SPE) proved reserves*, Reserves revisions, MMToe MMToe 196% reserves replacement ratio *Data does not include NIS…
  7. FY 2015 Financial and Operating Results – Gazprom Neft – slide 7
    Highest production growth in Russia amongst peers Hydrocarbon production, Hydrocarbon production growth in Russia MMToe (2015 vs. 2014) CAGR 8.6% *Joint operations: proportionally consolidated companies (Tomskneft, SPD) Source:…
  8. FY 2015 Financial and Operating Results – Gazprom Neft – slide 8
    Successful implementation of key projects and acquisitions drives hydrocarbon production growth Hydrocarbon production: 2015 vs. 2014, MMToe 20.3% Liquid hydrocarbons +3.61 MMTonnes Gas +9.83 MMToe *JVs refer to…
  9. FY 2015 Financial and Operating Results – Gazprom Neft – slide 9
    Controlling OPEX despite reserves depletion, higher watercut and inflationary pressures +6% +1% 1,582 1,472 1,492 REVEX +13% Lifting costs +4% Note: The chart above takes into account the following projects: NNG, MN,…
  10. FY 2015 Financial and Operating Results – Gazprom Neft – slide 10
    Novy Port: ready to lift transportation challenge Completed summer and winter crude oil shipment programs: 293 thousand tons were exported in 2015 As a result of exploration, 2P reserves (PRMS) rose by 38% up to 176 MMtoe First…
  11. FY 2015 Financial and Operating Results – Gazprom Neft – slide 11
    Solidifying Yamal production cluster January February March April May June July August September October November December Gazprom Neft Launched Yaro- Yaro-Yakhinskoye field achieved Arcticgas obtained non-recourse achieved…
  12. FY 2015 Financial and Operating Results – Gazprom Neft – slide 12
    New project developments Prirazlomnoye Messoyakha Badra Kurdistan (Iraq) Approved technological scheme Built 71km of trunk pipeline, Completed three production Began commercial production for field development assembled…
  13. FY 2015 Financial and Operating Results – Gazprom Neft – slide 13
    Downstream Strategic investments result in higher product quality and rising market share Gazprom Neft 14
  14. FY 2015 Financial and Operating Results – Gazprom Neft – slide 14
    Crude and product mix reflects shifting regulatory and price environment Crude price and average netbacks, /bbl Crude mix, MMTonnes Brent Crude export Crude to CIS & Russia Refining netback Crude export netback…
  15. FY 2015 Financial and Operating Results – Gazprom Neft – slide 15
    Refining highlights: 2015 Omsk: Increased condensate processing to 1.4 MMTonnes (+0.8 MMTonnes vs. 2014) Began developing Gazprom Neft catalyst production project Introduced new oil products: MTBE, light gasoil for bunkering,…
  16. FY 2015 Financial and Operating Results – Gazprom Neft – slide 16
    High-quality product yield continues to rise Refining throughput, MMTonnes Product yield, Share of high-octane MMTonnes gasoline, % -1.3% +2.2pp 41.6 41.1 97.5 95.4 Mozyr Other NIS NIS Fuel oil Jet fuel Yaroslavl Yaroslavl…
  17. FY 2015 Financial and Operating Results – Gazprom Neft – slide 17
    Retail sales increase amidst market challenges Retail achievements in 2015: Retail sales in 2015: Russia 8.1 MMTonnes +1% Y-o-Y International 2.1 MMTonnes +7% Y-o-Y Throughput per station in Russia stood at 19.1 tpd Acquired 11…
  18. FY 2015 Financial and Operating Results – Gazprom Neft – slide 18
    Domestic and global expansion via premium channels continues Sales in Russia, Market share GPN total premium Aviation MMTonnes in Russia sales*, MMTonnes 9.4 -10% 8.5 Presence in 210 airports 26.3% Company-owned refueling…
  19. FY 2015 Financial and Operating Results – Gazprom Neft – slide 19
    Premium channel growth continues, at home and abroad Sales in Russia, Market share GPN total premium Lubricants MTonnes in Russia sales*, MTonnes 775 -5% 736 Opened 13 branded G-Energy service stations (5 in Russia, 3 in 17.1…
  20. FY 2015 Financial and Operating Results – Gazprom Neft – slide 20
    Financials Strategic focus in challenging macroeconomic environment Gazprom Neft 21
  21. FY 2015 Financial and Operating Results – Gazprom Neft – slide 21
    Macro environment and duty lag negatively affected 4Q Sales decreased y-o-y by 2.1% due to 1,691 1,656 declining global oil and oil products prices Sales partially offset by increase of volumes and realization prices at domestic…
  22. FY 2015 Financial and Operating Results – Gazprom Neft – slide 22
    EBITDA reconciliation FY2015 vs. FY2014 EBITDA Y2015 vs. Y2014, RUB bln Group share in JVs EBITDA External factors = 12,4 Internal factors = 49,8 2014 2015 Gazprom Neft 23
  23. FY 2015 Financial and Operating Results – Gazprom Neft – slide 23
    EBITDA reconciliation 4Q15 vs. 3Q15 EBITDA 4Q15 vs. 3Q15, RUB bln Group share in JVs EBITDA Gazprom Neft 24
  24. FY 2015 Financial and Operating Results – Gazprom Neft – slide 24
    Balanced cash flow in volatile price environment FY2015 cash flows, RUB mln * Projects not consolidated under IFRS Gazprom Neft 25
  25. FY 2015 Financial and Operating Results – Gazprom Neft – slide 25
    Upstream capex growth driven by increased brownfield activities, greenfield development Investments, RUB mln 29% Y-o-Y increase in IFRS capex 2% Y-o-Y lower brownfield capex (adjusted for Priobskoye field to brownfield…
  26. FY 2015 Financial and Operating Results – Gazprom Neft – slide 26
    Proactive management of robust financial structure Debt maturity profile at the end of FY2015 Debt structure by currencies at the end FY2015 16% 11% EUR USD RUB LPN 73% Debt structure by currencies at the end FY2014 17%…

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