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H1 2016 Results – PGNiG

PGNiG · Aug 12, 2016 · 29 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. H1 2016 Results – PGNiG – slide 1
    PGNiG Group H1 2016 Results August 12th, 2016
  2. H1 2016 Results – PGNiG – slide 2
    Results of E&P and T&S under pressure of oil prices. Significant Distribution share in the EBITDA Segments contribution to Groups EBITDA Groups EBITDA excluding impairments Generation Exploration & 14% H1 2016 Production 16%…
  3. H1 2016 Results – PGNiG – slide 3
    A significant drop in hydrocarbon prices impacts results Revenue Operating costs EBITDA EBIT Net profit -15% -13% -22% -31% -32% 0 0% 17 349 -1 20 390 0 15 555 17 781 -2 0 -3 0 3 131 -4 0 1 794…
  4. H1 2016 Results – PGNiG – slide 4
    Performance drivers Stronger USD i EUR 9 month average oil price down versus PLN yoy in Q2 2016 by 46% yoy and 18% qoq PLN USD/bbl 4,5 120 4,37 +4.1% 100 4,09 +6,9% 4,0 3,87 78 --46% 80 3,70 +4,6% +6.2% 62 -26% 60 3,5 46…
  5. H1 2016 Results – PGNiG – slide 5
    Performance drivers Average tariff price of gas fuel in Poland and the price of gas on the PPE PLN/MWh 120 117 115 112 106 105 102 100 94 80 60 40 20 PPE (day ahead market) Average regulated price of gas sold by the PGNiG…
  6. H1 2016 Results – PGNiG – slide 6
    Segments results
  7. H1 2016 Results – PGNiG – slide 7
    Exploration & Production results under pressure of low oil prices Crude oil sales yoy Natural gas production yoy 720 / 734 thou. tons 2.3 / 2.3 bn m3 +1.9% no change Revenue Operating cost EBITDA EBIT PLN 680 m of impairments…
  8. H1 2016 Results – PGNiG – slide 8
    Discount policy and lower tariffs responsible for lower revenue in Trade & Storage Gas sales volume yoy Gas inventory levels yoy Half-year operating margin yoy 12.5 / 12.7 bn m3 1.80 / 1.61 bn m3 +1% / +1% +1.6% -10.6% no change…
  9. H1 2016 Results – PGNiG – slide 9
    Increase of distributed gas volume improve Distribution results yoy Distributed gas volume yoy 5,280 / 5,538 m m3 +4.9% Revenue Operating cost EBITDA EBIT 3% -8% 17% 24% 0 0 2 462 0 -1 2 394 0 -2 1 494 1 423…
  10. H1 2016 Results – PGNiG – slide 10
    Solid operating results of Generation Heat sales yoy Electricity sales yoy 20,864 / 21,504 TJ 2,024 / 1,981 GWh +3.1% -2.2% Revenue Operating cost EBITDA EBIT 9% 9% 9% 9% 0 0 1 123 -1 0 -2 1 032 849 -3…
  11. H1 2016 Results – PGNiG – slide 11
    Significant impact of one-offs compensated by drop in cost of purchased gas in H1 2016 Cost of Depreciation & Employee Operating costs Other purchased gas amortization benefits -13% -20% -4% -8% 17% 0 0 15 555 17 781 -1…
  12. H1 2016 Results – PGNiG – slide 12
    Trade
  13. H1 2016 Results – PGNiG – slide 13
    SMEs dynamic aqcuisition of new and returning clients Positive market results effect of a Growth in new sales volumes new and shift in operating on a competitive returning clients market Focus on a match between 358…
  14. H1 2016 Results – PGNiG – slide 14
    Households stable customer base Stable share in retail market an effect Stable position in retail market of credibility -0.1% Competitors focus on acquiring business 6 446 accounts (given relatively high acquisition cost vs low…
  15. H1 2016 Results – PGNiG – slide 15
    Wholesale market PGNiG SA is an active player on the gas market at the time of its deregulation, consistently seeking to enhance and expand its commercial offering. Its increasingly competitive offerings help PGNiG SA win new…
  16. H1 2016 Results – PGNiG – slide 16
    Questions & Answers
  17. H1 2016 Results – PGNiG – slide 17
  18. H1 2016 Results – PGNiG – slide 18
    Appendices
  19. H1 2016 Results – PGNiG – slide 19
    Q2 2016 financial results
  20. H1 2016 Results – PGNiG – slide 20
    PGNiG Groups results in Q2 Revenue Operating costs EBITDA EBIT Net profit -19% -9% -56% -92% -119% 0 0 0 -1 7 895 6 369 6 296 6 948 0 -2 0 -3 0 -4 1 670 738 947 621 0 -5 73 0 -6…
  21. H1 2016 Results – PGNiG – slide 21
    Exploration & Productions results for Q2 Crude oil sales yoy Natural gas production yoy 372 / 336 thou. tons 1.1 / 1.1 bn m3 -9.7% No change Revenue Operating cost EBITDA EBIT -17% 46% -119% -245% 0 0 1 506 0 -1 1 094 1…
  22. H1 2016 Results – PGNiG – slide 22
    Trade & Storages results for Q2 Gas sales volume yoy Gas inventory levels yoy Half-year operating margin yoy 4.8 / 4.7 bn m3 0.91 / 1.61 bn m3 -3% / -2% -2.1% +76.9% +1 p.p. Revenue Operating cost EBITDA EBIT -21% -19% -46%…
  23. H1 2016 Results – PGNiG – slide 23
    Distributions results for Q2 Distributed gas volume yoy 2,024 / 2,050 m m3 +1.3% Revenue Operating cost EBITDA EBIT -1% 5% -4% -9% 0 0 - 0 1 065 - 1 077 0 - 665 630 - 696 0 435 601 476 -…
  24. H1 2016 Results – PGNiG – slide 24
    Generations results for Q2 Heat sales yoy Electricity sales yoy 5,810/ 5,352 TJ 674/ 591 GWh -7.9% -12.5% Revenue Operating cost EBITDA EBIT 11% 17% -15% -69% 0 0 -1 -2 381 373 -3 0 344 320 -4…
  25. H1 2016 Results – PGNiG – slide 25
    Operating costs in Q2 2016 Cost of Depreciation & Employee Operating costs Other purchased gas amortization benefits -9% -29% -8% 10% 53% 0 0 -1 -2 0 6 297 6 948 -3 3 126 4 420 -4 1 867 0 -5 1…
  26. H1 2016 Results – PGNiG – slide 26
    Other
  27. H1 2016 Results – PGNiG – slide 27
    Impact of segments operating results on PGNiG Groups EBITDA EBITDA E&P T&S Distribution Generation Other EBITDA H1 2015 H1 2016 0 +205 3 996 +38 0 -7 3 131 0 -1 047 -54 0 0 0 0 0 0…
  28. H1 2016 Results – PGNiG – slide 28
    Operating data Gas output and crude oil output Gas sales volume and gas inventory levels 000 bcm tonnes bcm 1,6 600 10 6.8 7.7 8 6.5 1.2 1.2 1.2 1.1 1.1 1.1 1.1 1.1 1,2 1.1 450 7,5 4.8 3.9 3.6 4.7 3.3 386 367 358 0,8 348…
  29. H1 2016 Results – PGNiG – slide 29
    Efficiency Improvement Programme almost PLN 1bn in savings by 2017 The Programme aims to Programme objectives: permanently reduce the To set efficiency improvement targets for the individual segments and entities within manageable…

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