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2018 Results and Outlook February 2019 – Total SA

Total SA · Feb 13, 2019 · 39 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. 2018 Results and Outlook February 2019 – Total SA – slide 1
    Results and Outlook February 2019
  2. 2018 Results and Outlook February 2019 – Total SA – slide 2
    Consistently delivering Delivering on objectives Outstanding production growth Capex and Opex discipline Best-in-class Profitability Strong cash flow growth underpins shareholder returns Integrating along the oil, gas and…
  3. 2018 Results and Outlook February 2019 – Total SA – slide 3
    Safety, Totals core value Cornerstone of operational efficiency Total Recordable Injury Rate for Total and peers* Saft (battery business) TRIR** Per million man-hours Per million man-hours 2 10 1 5 0.9 2013 2018 2016…
  4. 2018 Results and Outlook February 2019 – Total SA – slide 4
    Oil market volatility Supply-demand and OECD inventories Mb/d, days of demand cover +1.3 Mb/d demand 100 in 2018* Increasing demand but sensitive to price and emerging market growth Supply Demand Growing supply: opposing…
  5. 2018 Results and Outlook February 2019 – Total SA – slide 5
    Strong LNG demand growth driven by Asia Supportive government policies for natural gas 2015-30 LNG demand 2015-30 LNG supply Mt/y Mt/y 5% CAGR 500 Other 500 Needs to be Middle East sanctioned 9% CAGR Europe Demand Under…
  6. 2018 Results and Outlook February 2019 – Total SA – slide 6
    2018 results: consistently delivering
  7. 2018 Results and Outlook February 2019 – Total SA – slide 7
    Consistently delivering strong results Best-in-class profitability with ROACE and ROE at 12% Adjusted net income Return on average capital employed (ROACE) B % 15% +28% 13.6 B Marketing & Services 10.6 B Refining & Chemicals…
  8. 2018 Results and Outlook February 2019 – Total SA – slide 8
    Growing cash flow generation Increasing contribution from high margin new projects 2018 cash flow allocation Organic free cash flow B B 10 15 B CFFO 24.7 15.6 Capital investment 5 1.5 Buyback 2015 2016 7.7 2017 2018…
  9. 2018 Results and Outlook February 2019 – Total SA – slide 9
    Exploration delivery underway Budget 1.2 B in 2019 Discoveries in core area Opening a world-class play Novatek in Russia 2 operator in the North Sea in South Africa (Total, shareholder with 19.4%) 11B-12B Block NAMIBIA…
  10. 2018 Results and Outlook February 2019 – Total SA – slide 10
    M&A highgrading portfolio and renewing reserves Strong 2018 proved reserve replacement of 157% 2018 E&P M&A and License extensions Proved and probable reserves B Bboe Maersk Oil (shares & debt) +1.4 10 Bboe 20 5 Main…
  11. 2018 Results and Outlook February 2019 – Total SA – slide 11
    Downstream: best-in-class 25% ROACE Diversified portfolio generating stable cash flow Downstream CFFO 2018 Downstream CFFO B % 6.5 B Refining Chemicals 7 2016 2017 2018 Marketing & Services ERMI (/t) 34 41 32 Maintaining…
  12. 2018 Results and Outlook February 2019 – Total SA – slide 12
    Strong balance sheet Delivering on objective to maintain gearing < 20% Net-debt-to-capital IFRS 16 impact in 2019 % 22% 21% Gearing +3% 15.5% 12% Capital employed +5 to 6 B DACF +1 B Adjusted net income 0 2015 2016…
  13. 2018 Results and Outlook February 2019 – Total SA – slide 13
    Delivering on objectives 2018 objectives Target Realized Capital investment 16 B 15.6 B Cost reduction 4 B 4.2 B 5.5 5.7 Upstream Opex /boe /boe Production growth 6% 8% Downstream CFFO 7 B 6.5 B Dividend increase…
  14. 2018 Results and Outlook February 2019 – Total SA – slide 14
    Outperforming peers in 2018 Production growth Downstream ROACE % % 30% 5% Group ROACE Net-debt-to-capital % -4% % 15% 20% 5% Peers: BP, Chevron, ExxonMobil, Shell based on public data 2018 Results and…
  15. 2018 Results and Outlook February 2019 – Total SA – slide 15
    Discipline and cash flow growth
  16. 2018 Results and Outlook February 2019 – Total SA – slide 16
    Delivering outstanding production growth Best-in-class 5% CAGR for 2017-22 Production* growth Mboe/d +9% 8 major start-ups in 2018-19 3 Egina, Kaombo North, Ichthys +8% and Yamal LNG ramp-ups Iara 1, Kaombo South, Culzean and…
  17. 2018 Results and Outlook February 2019 – Total SA – slide 17
    Capital investment discipline Capital investment* 2019 capital investment B % Downstream 15.6 15-16 15-17 iGRP: Exploration Integrated & Production Gas Renewables & Power 2018 2019 2020 Guidance Feb 2018 16 15-17…
  18. 2018 Results and Outlook February 2019 – Total SA – slide 18
    Maintaining discipline on Opex Competitive advantage on cost Opex savings vs. 2014 base Production costs (ASC 932) B /boe 5 B 4.7 B 4.2 B 15 Downstream & Corporate 9.9 10 Upstream 7.4 5.9 5.4 5.7 5 2018 2019 2020…
  19. 2018 Results and Outlook February 2019 – Total SA – slide 19
    Clear visibility on cash flow growth Debt adjusted cash flow (DACF)* B Strong contribution from 2018 project start-ups 30 70 /b 3 B in 2019** from Kaombo, Ichthys, Egina 26.1 60 /b 71 /b 22.2 Solid cash generation from…
  20. 2018 Results and Outlook February 2019 – Total SA – slide 20
    Clear priorities for cash flow allocation 2018-20 1 2 3 4 Capital Balance Share Dividend investment sheet buyback Maintain 15-17 B per year 10% increase gearing < 20% 5 B over 2018-20 over 2018-20 grade A credit rating…
  21. 2018 Results and Outlook February 2019 – Total SA – slide 21
    Preparing for future growth
  22. 2018 Results and Outlook February 2019 – Total SA – slide 22
    Integrating climate into strategy Taking into account anticipated market trends Global energy demand Mboe/d Focusing on IEA 2C oil projects scenario* with low breakeven 300 Renewables Nuclear Expanding along the Coal…
  23. 2018 Results and Outlook February 2019 – Total SA – slide 23
    Oil & Gas: Building on our strengths Leveraging expertise in 7 core areas 1 Deepwater 2 LNG 3 Petrochemicals 4 Retail & Lubricants Africa 5 Market leader Middle East & North Africa 6 Partner of choice North Sea 7 2…
  24. 2018 Results and Outlook February 2019 – Total SA – slide 24
    Countercyclical M&A creating value Acquisitions and divestments 2015-18 B E&P 2015-18 acquisitions Maersk Oil 20 (shares & debt) 7 Bboe of resources added at < 2.5 /boe 4 B/y CFFO at 60 /b from 2019 on average ROACE at 60 /b…
  25. 2018 Results and Outlook February 2019 – Total SA – slide 25
    Sanctioning high return projects for future growth Launching 700 kboe/d by 2020 Prod. growth Troll, Ekofisk Arctic LNG 2 2020-25 360 kboe/d, 21% average 600 kboe/d, 22%* 2%/y Energia Costa Azul 2.5 Mt/y, 17% Glendronach Johan…
  26. 2018 Results and Outlook February 2019 – Total SA – slide 26
    Delivering profitable short cycle developments Launching 400 Mboe by end-2019 Short cycle reserve split Short cycle projects launched in 2018 Bboe Average IRR Capex Sanctioned in 2018-19 20% < 7 /boe at 50 /b 1 Bboe…
  27. 2018 Results and Outlook February 2019 – Total SA – slide 27
    Fully integrated along the oil value chain Investing through the cycle and resilient in a volatile market 1.6 Mb/d 1.9 Mb/d 1.8 Mb/d Production Refining Marketing & Services Note: 2018 data 2018 Results and Outlook 27
  28. 2018 Results and Outlook February 2019 – Total SA – slide 28
    Expanding high return petrochemicals Leveraging world class integrated platforms Petrochemical projects US: Total Borealis Nova JV South Korea: Hanwha Total JV New ethane cracker Propane cracker expansion PE capacity increase PE &…
  29. 2018 Results and Outlook February 2019 – Total SA – slide 29
    Marketing & Services targeting large growing markets Expanding worldwide network of 14,000 service stations Marketing & Services CFFO 2018 M&A and partnerships B Mexico India Alliance with local partners JV with Adani +100 M per…
  30. 2018 Results and Outlook February 2019 – Total SA – slide 30
    iGRP: investing for growth Capturing the value of integrated gas and low carbon electricity Capital Investments CFFO B* B 4 4 70 /b 60 /b 2 2 71 /b 2018 2019-20 2018 2019 2020 Accelerating integrated LNG growth CFFO…
  31. 2018 Results and Outlook February 2019 – Total SA – slide 31
    Growing world-class LNG portfolio Priority to low cost, brownfield projects Integrated LNG CFFO B* New LNG projects in key supply regions 3 Pre-FID projects Equity Project capa. Arctic LNG 2 Russia 22%** 20 Mt/y Energia Costa…
  32. 2018 Results and Outlook February 2019 – Total SA – slide 32
    Building a profitable low carbon electricity business Integrated approach: production, trading and marketing Renewables project value creation Nominal IRR % Gas to electricity Renewables to electricity Europe Worldwide 15% 3 GW* by…
  33. 2018 Results and Outlook February 2019 – Total SA – slide 33
    Strategy contributing to tackle climate change Reducing the carbon intensity of our energy sales Carbon intensity Base 100 in 2015 (75 gCO2/kbtu) Further improving efficiency of our operations 100 IEA NPS Growing in natural…
  34. 2018 Results and Outlook February 2019 – Total SA – slide 34
    Total, the Responsible Energy Major Balancing added value distribution among stakeholders 2010-18 added value, 50 B/y B Net Salaries 100,000 employees investments & benefits Working in 130 countries worldwide 450,000…
  35. 2018 Results and Outlook February 2019 – Total SA – slide 35
    Consistently delivering Delivering on objectives Outstanding production growth Capex and Opex discipline Best-in-class Profitability Strong cash flow growth underpins shareholder returns Increasing dividend by 3.1% in 2019…
  36. 2018 Results and Outlook February 2019 – Total SA – slide 36
    Appendix
  37. 2018 Results and Outlook February 2019 – Total SA – slide 37
    2018-20 major start-ups Delivering 600 kboe/d by 2020 kboe/d Share Country Yamal LNG T1 150 29.7% Russia Fort Hills 180 24,5% Canada Vaca Muerta 100 41% Op. Argentina 2018 Timimoun 30 38% Algeria Yamal LNG T2 150 29.7% Russia…
  38. 2018 Results and Outlook February 2019 – Total SA – slide 38
    Well positioned for new IMO regulation Positive for E&P and R&C, a new opportunity for M&S Crude Oil Products value Alternative fuel Low sulfur crude value increasing HSFO decreasing, distillates increasing Development of LNG for…
  39. 2018 Results and Outlook February 2019 – Total SA – slide 39
    Disclaimer This document may contain forward-looking information on the Group (including objectives and trends), as well (ii) Inventory valuation effect as forward-looking statements within the meaning of the Private Securities…

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