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2Q16 Conference Call Results – OMV Group

OMV Group · Aug 10, 2016 · 25 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. 2Q16 Conference Call Results – OMV Group – slide 1
    OMV Q2/16 conference call Rainer Seele Chairman of the Executive Board and CEO August 10, 2016 OMV Aktiengesellschaft
  2. 2Q16 Conference Call Results – OMV Group – slide 2
    Disclaimer This document does not constitute a recommendation, an offer or invitation, or solicitation of an offer, to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis…
  3. 2Q16 Conference Call Results – OMV Group – slide 3
    Key messages Positive free cash flow after dividends 2016 CAPEX guidance reduced to EUR 2.2 bn Cost reduction ahead of schedule Rebalancing of the Upstream portfolio well on track: Sale agreement for a 30% stake in the Rosebank…
  4. 2Q16 Conference Call Results – OMV Group – slide 4
    HSSE Safety is our top priority Safety record Sustainability highlights LTIR OMV Group 1 Major accident prevention policy implemented across the Group Specific training programs to raise 0.7 awareness of road and electrical…
  5. 2Q16 Conference Call Results – OMV Group – slide 5
    Development of economic environment Oil price Brent OMV indicator refining margin in USD/bbl in USD/bbl 80 8 7.8 7.8 60 6 62 5.9 40 50 4 5.1 44 46 4.7 20 34 2 0 0 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Gas…
  6. 2Q16 Conference Call Results – OMV Group – slide 6
    Financial performance Q2/16 Key financials Q2/16 Q2/15 (%) in EUR mn Clean CCS EBIT 214 375 (43) Clean CCS net income 222 364 (39) attributable to stockholders Clean CCS 0.7 1.1 (39) Earnings Per Share (EPS), in EUR Cash flow from…
  7. 2Q16 Conference Call Results – OMV Group – slide 7
    Financial performance 6m/16 Clean CCS EBIT Clean CCS net income Free cash flow in EUR mn attributable to stockholders in EUR mn in EUR mn 708 406 600 27 381 396 (421) (950) 6m/15 6m/16 6m/15 6m/16 6m/15 6m/16 58 40…
  8. 2Q16 Conference Call Results – OMV Group – slide 8
    Portfolio developments Rosebank Sale agreement for a 30% stake in Rosebank field signed Initial payment of USD 50 mn on closing and up to USD 165 mn on FID Gazprom / OMV asset swap Negotiations regarding swap assets continuing…
  9. 2Q16 Conference Call Results – OMV Group – slide 9
    2016 CAPEX guidance reduced to EUR 2.2 bn Group CAPEX Well on track to reduce CAPEX incl. capitalized E&A, in EUR bn Focus on profitable barrels and sustainable reduction of unit CAPEX (21)% cost 2.7 Main investments in 6m/16: 2.4…
  10. 2Q16 Conference Call Results – OMV Group – slide 10
    26% reduction of E&A expenditure in 2016 E&A expenditure EUR 450 mn of E&A expenditure in in EUR mn 2016 confirmed Lower activities across the portfolio (26)% Focus on low cost regions and near- 607 field opportunities 450 Main…
  11. 2Q16 Conference Call Results – OMV Group – slide 11
    Ahead of schedule to reduce the cost base Operating cost 1 reduction in EUR mn 150 Delivery of EUR 100 mn 150 New target already in 2016E 50 mn EUR 100 100 100 Original target 50 100 mn EUR 0 Baseline 2015 Dec. 2016…
  12. 2Q16 Conference Call Results – OMV Group – slide 12
    OMV Q2/16 conference call Reinhard Florey Chief Financial Officer August 10, 2016 OMV Aktiengesellschaft
  13. 2Q16 Conference Call Results – OMV Group – slide 13
    Income statement summary in EUR mn Q2/16 Q2/15 (%) Clean CCS net income attributable to stockholders EBIT (300) 222 n.m. in EUR mn Financial result 72 92 (21) 364 Thereof Borealis 111 127 (12) Taxes 111 (23) n.m. 222 Net…
  14. 2Q16 Conference Call Results – OMV Group – slide 14
    Cash flow in EUR mn Q2/16 Q1/16 Q2/15 Net income (117) 136 292 Depreciation, amortization and impairments 1,157 538 835 Change in net working capital components 345 (73) (137) Other (349) (21) (131) Cash flow from operating…
  15. 2Q16 Conference Call Results – OMV Group – slide 15
    Market environment puts pressure on Q2/16 results Key financials Q2/16 Q2/15 (%) Special items and CCS effect in EUR mn Q2/16 in EUR mn Clean CCS EBIT 214 375 (43) 94 214 Thereof Upstream 0 116 n.m. Downstream 250 269 (7)…
  16. 2Q16 Conference Call Results – OMV Group – slide 16
    Upstream Q2/16 vs. Q2/15: Lower costs partly offset difficult pricing environment Clean EBIT Q2/16 vs. Q2/15 in EUR mn Realized oil price down by 32% and 116 realized gas price down by 19% Positive change in stock effect in…
  17. 2Q16 Conference Call Results – OMV Group – slide 17
    Upstream Key performance indicators Hydrocarbon production Main operational developments in kboe/d 307 292 309 312 316 Production increased by 3% vs. Q2/15 mainly due to 154 154 161 161 148 Edvard Grieg being brought on stream in…
  18. 2Q16 Conference Call Results – OMV Group – slide 18
    Downstream showed solid performance Clean CCS EBIT Q2/16 vs. Q2/15 in EUR mn Oil 269 Lower OMV indicator refining margin 250 Gas Decreased petrochemical margins +89 72 Turnaround activities at refineries in Oil Austria and…
  19. 2Q16 Conference Call Results – OMV Group – slide 19
    Downstream Oil Key performance indicators OMV indicator refining margin Main operational developments in USD/bbl OMV indicator refining margin 7.8 7.8 down by 40% vs. Q2/15 5.9 5.1 4.7 Refining utilization rate down to 72% due to…
  20. 2Q16 Conference Call Results – OMV Group – slide 20
    Downstream Gas Key performance indicator Natural gas sales volumes in TWh 32.5 28.7 24.4 23.1 20.4 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 OMV Trading and EconGas OMV Petrom OMV Turkey 20 OMV Group, results presentation…
  21. 2Q16 Conference Call Results – OMV Group – slide 21
    OMV Petrom Group: Positive Upstream result on the back of successful cost reduction measures Key financials Q2/16 Q2/15 (%) Q2/16 vs. Q2/15 in EUR mn Positive, but lower Upstream result due to negative impact of lower prices and…
  22. 2Q16 Conference Call Results – OMV Group – slide 22
    Targeting a long-term gearing ratio of 30% Net debt development Strong liquidity position as of Q2/16 in EUR bn Cash position at EUR 1.3 bn 5 4.04 4.18 3.99 Committed revolving credit facilities of 4 EUR 3.6 bn (undrawn) 3…
  23. 2Q16 Conference Call Results – OMV Group – slide 23
    Financial priorities in a nutshell Improve shareholder return Focus on cash flow Maintain strong balance sheet 23 OMV Group, results presentation Q2/16
  24. 2Q16 Conference Call Results – OMV Group – slide 24
    Outlook for the full year 2016 Brent oil price: Annual average of USD 40/bbl expected H2/16 margins expected to be below H1/16 level; Refining: Utilization rate 90% in H2/16 European gas markets: Oversupply continues; H2/16 prices…
  25. 2Q16 Conference Call Results – OMV Group – slide 25
    OMV Aktiengesellschaft

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