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Results and Outlook February 2016 – Total SA

Total SA · Feb 11, 2016 · 27 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. Results and Outlook February 2016 – Total SA – slide 1
    Results & Outlook February 2016 Results & Outlook, February 2016
  2. Results and Outlook February 2016 – Total SA – slide 2
    Safety, a core value The cornerstone of operational efficiency Total Recordable Injury Rate for Total and peers* Safety and operational performance go hand in hand Per million man-hours 3 3 95% -12% per year 22 22 11…
  3. Results and Outlook February 2016 – Total SA – slide 3
    Resilient 2015 performance Safety, Delivery, Costs and Cash Benefiting from the integrated model 9.4% production growth 8 B Downstream cash generation Exceeded cost reduction targets Results & Outlook, February 2016 3
  4. Results and Outlook February 2016 – Total SA – slide 4
    2015 Results Patrick de La Chevardire Chief Financial Officer
  5. Results and Outlook February 2016 – Total SA – slide 5
    Steep decline in commodity prices One year into the cycle Brent (/b) and ERMI (/t) Gas (/Mbtu) 20 110 10 52 8 50 49 7 3 -10 2006 2015 2006 2015 Brent ERMI Asian proxy NBP HH 2015 liquids realizations: -47% 2015…
  6. Results and Outlook February 2016 – Total SA – slide 6
    Resilient 2015 results Strong Downstream contribution Adjusted net income Adjusted net income B % change 2015 vs 2014 for Total and peers** 10.5 B Brent Marketing & Services -15% Refining & -18% Chemicals -40% Upstream…
  7. Results and Outlook February 2016 – Total SA – slide 7
    Robust 2015 cash generation Leveraging the integrated business model Cash flow allocation Cash flow from operations B % change 2015 vs 2014 for Total and peers* 22.6 B Brent 0% Financing Net asset sales -20% 23.0 Organic…
  8. Results and Outlook February 2016 – Total SA – slide 8
    Portfolio management integrated into strategy On track to achieve 2015-17 sales program 2015-17 asset sale program B 10 B Delivering asset sales as planned 5 2016 target increased to 4 B Fort Hills in response to environment…
  9. Results and Outlook February 2016 – Total SA – slide 9
    Securing future with 107% reserve replacement ratio 20 years of proved and probable reserves Proved reserves Organic reserve replacement rate Bboe 3-year average Additions 11.5 11.6 118% Portfolio 93% Production 2014…
  10. Results and Outlook February 2016 – Total SA – slide 10
    Priority to strong balance sheet Lower gearing despite weaker environment Net debt-to-equity ratio % 31% 28% Access to financial markets on attractive terms Maintaining sufficient liquidity 5.4 B after-tax impairments in…
  11. Results and Outlook February 2016 – Total SA – slide 11
    Delivering on our commitments Building on a solid 2015 track record 2015 objectives Target Realized Capex 23-24 B 23.0 B Opex savings 1.2 B 1.5 B Exploration 1.9 B 1.9 B 2014 asset sales closed 4 B 3.5 B 2015 asset sales…
  12. Results and Outlook February 2016 – Total SA – slide 12
    Outperforming peer group in 2015 Strong performance across all segments Adjusted net income* Upstream production growth* 10% -20% 5% -45% 0% -70% -5% Cash flow from operations* Return on equity 10% -20% -50% 0%…
  13. Results and Outlook February 2016 – Total SA – slide 13
    2016 Outlook Patrick Pouyann Chairman and CEO
  14. Results and Outlook February 2016 – Total SA – slide 14
    Adapting 2016 Capex to lower oil price Increasing flexibility as projects start up Organic Capex 2016 Organic Capex B B New Energies Downstream 30% 26.4 B Exploration 23.0 B 19 B 17-19 B Upstream assets Upstream 2014…
  15. Results and Outlook February 2016 – Total SA – slide 15
    Company fully mobilized on Opex reduction 2015 Opex savings target surpassed 2015-17 Opex reduction Contribution to operating results* - B 3 B 2.4 B Corporate Downstream 1.5 B 1.2 0.8 Upstream Initial Revised Achieved…
  16. Results and Outlook February 2016 – Total SA – slide 16
    Driving down E&P Opex by 35% Lowest technical costs among peers Operating costs (ASC932) Technical costs (ASC932) for Total and peers* /boe /boe 9.9 -35% 40 -19% 7.4 2014-15 6.5 20 2014 2015 2016 2010 2011 2012 2013…
  17. Results and Outlook February 2016 – Total SA – slide 17
    Strong production growth Exceeded 2015 target Production Production Mboe/d % change 2015 vs 2014 for Total and peers* +5% per year 3 2014-19 +4% +9.4% 10% 2.35 2.15 5% 1 0% 2014 2015 2016 2017 2019 -5% *…
  18. Results and Outlook February 2016 – Total SA – slide 18
    Five major projects starting up in 2016 Ramping up nine 2015 start-ups Laggan-Tormore, UK Production from new start-ups Total 60% op., 90 kboe/d* kboe/d 300 Angola LNG Total 13.6%, 150 kboe/d* Laggan-Tormore 200 Vega Pleyade…
  19. Results and Outlook February 2016 – Total SA – slide 19
    Focused exploration program starting to deliver results 2016 budget of 1.5 B Vaca Muerta Ukot South, Owowo West Shwe Yee Htun Argentina Nigeria Myanmar 11 blocks, Total 24-45% Total 18-20% Total 40% Exploration Appraisal…
  20. Results and Outlook February 2016 – Total SA – slide 20
    Harvesting benefits of Downstream restructuring Strong contribution expected in 2016 Downstream adjusted CFFO Downstream ROACE for Total and peers* B % 32% 7 B 8 ROACE 30% 0% 2011 2012 2013 2014 2015 2016 2011 2015 ERMI…
  21. Results and Outlook February 2016 – Total SA – slide 21
    More than 500 M/y additional cash from R&C projects 20% European capacity reduction achieved by end-2016 Lindsey Antwerp Reducing capacity Starting new by 50% 4Q16 conversion unit 3Q16 La Mde SATORP Converting to Capacity creep…
  22. Results and Outlook February 2016 – Total SA – slide 22
    M&S generating close to 2 B of cash flow from operations Growing retail and lubricants by 4% per year Retail network sales Retail network Mt/y European repositioning Lubricants +6% 2014-15 Increasing market share in 35 key…
  23. Results and Outlook February 2016 – Total SA – slide 23
    Reducing cash flow breakeven Maintaining scrip dividend in 2016 Free cash flow* Organic free cash flow** B B 13 80 /b 10 5 1 Cash dividend -3 -1 2015 2016 2017 2019 Brent 52 /b 50 /b 40 /b Brent 60 /b 60 /b ERMI…
  24. Results and Outlook February 2016 – Total SA – slide 24
    Committed to shareholder return 100% cash dividend at 60 /b from 2017 Pay-out ratio Total shareholder return ranking* % As of December 31, 2015 - 60% 58% 1 50% 2 3 1 year 1 2 3 2 years 1 2 3 2013 2014 2015 3…
  25. Results and Outlook February 2016 – Total SA – slide 25
    Lower prices jeopardizing global oil supply 1/3 of new supply needed for 2020 at risk Oil supply and demand Mb/d 5-10 Mb/d unidentified Decline accelerating 100 Reducing activity in North America 5% decline New supply…
  26. Results and Outlook February 2016 – Total SA – slide 26
    Group strategy integrating 2C roadmap Sustainable business model Global energy demand Mboe/d IEA 2C scenario* Focusing on oil projects with low breakevens 300 Solar / Wind Bio-energy Hydro Nuclear Prioritizing gas projects…
  27. Results and Outlook February 2016 – Total SA – slide 27
    Ramping up response to 2016 environment Staying the course to reduce breakeven Safety, a core value Delivering in all segments Project execution Operational efficiency Reducing 2016 costs Capex decreased to 19 B Opex savings…

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