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2Q 2019 Earnings Presentation – Repsol S.A.

Repsol S.A. · Jul 24, 2019 · 19 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. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 1
    WEBCAST CONFERENCE CALL Second Quarter 2019 Results 1
  2. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 2
    Index 01. Key messages and operational highlights 02. Financial results 03. Outlook 2019 04. Rationale of share capital reduction 05. Conclusions 3
  3. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 3
    Resilient results in a volatile environment Market environment BRENT PRICE REFINING MARGIN INDICATOR 7.2 /Bbl /Bbl 6.7 75.2 6.2 74.4 5.3 68.8 68.9 3.5 63.1 2Q18 3Q18 4Q18 1Q19 2Q19 2Q18 3Q18 4Q18 1Q19 2Q19 HENRY HUB…
  4. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 4
    Strong operating cash flow delivery Key messages Upstream Downstream Flat production vs 1Q19 Weaker EBITDA contribution from Refining CFFO increased 27% vs 2Q18 Improved results from Chemicals Capex increased 25% vs 2Q18 Good…
  5. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 5
    Production in line with 1Q19 Upstream highlights Kboed 700 -1% 694 Planned maintenance in T&T (factored in annual budget) Libya at plateau for full quarter (39 Kboed) Lower volumes in Peru due to unscheduled shutdown in…
  6. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 6
    Building an attractive pipeline in the Gulf of Mexico Upstream highlights Buckskin First Oil (June 14th 2019) Growing the future Last example of Repsol development strategy Joint development of Leon and Moccasin Breakeven Price 79…
  7. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 7
    Accelerating Alaska: long term growth platform Upstream highlights Nanushuk path to success Leveraging our capabilities Huge interests in prolific formation to build a new core region Pikka Unit 500 Mboe (2C) Gross Kboe/d FID…
  8. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 8
    Exploration Upstream highlights 7 exploratory and 2 appraisal wells were concluded (5 positive, 1 under evaluation) Gulf of Mexico The 2nd appraisal of Leon expected to start before year end Indonesia Guyana Brazil…
  9. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 9
    Indonesia: a value creation history since TLM acquisition Upstream highlights Largest discovery in 18 years in Indonesia(1) Indonesia new additional production 800 700 Gross MMscfd (2) Corridor extension 600 Sakakemang fast…
  10. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 10
    Challenging Refining. Improving Chemicals Downstream highlights REFINING PETROCHEMICHAL /Bbl Refining Margin Indicator Good set of quarterly results 7.2 6.7 Stable international environment 6.2 5.3 3.5 Cheaper feedstock,…
  11. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 11
    Downstream resilience Downstream highlights DW Resilience Better Performance R&M vs Peers Brent Cracking NWE R&M Integrated EBIT EBITDA CCS (B) [European Peers] 4 /Bbl 1 9,0 10 3 3.8 1 2 2 8 1 3.2 3.2 6 7.3 2019E 2 4…
  12. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 12
    2Q19 Results Financial highlights Resilient results under a volatile macro scenario.
  13. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 13
    2Q19 Results Upstream Results (M) 400 350 60 300 23 250 36 (129) 30 200 360 323 (57) 150 100 50 0 2Q18 Net price effect Volume effect Exploration Expenses Exchange rate Taxes Others 2Q19 14
  14. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 14
    2Q19 Results Downstream Results (M) 350 300 (1) 250 111 (205) 16 200 15 337 (8) 150 46 311 100 50 0 2Q18 Refining Petrochemicals Trading, Wholesales Mobility, Exchange rate Own use & Others 2Q19 15 and Gas…
  15. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 15
    On track to deliver 2020 CFFO objective Outlook 2019 2019E (B) +0.3 +0.33 +0.08 +0.133 +0.12 +0.06 +1.0 0.1 6.5 0.2 0.3 0.3 0.6 0.4 4.6 UPSTREAM DOWNSTREAM CORPORATION +1 B + 0.8 B + 0.1 B 2017 CFFO1 50 New RISE…
  16. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 16
    Digitalization & Efficiency Outlook 2019 CFFO impact (B) at 50/Bbl 0.9 Upstream Downstream Better maintenance, reduction of Improving integrated margin, logistics and decommissioning costs and initiatives in gas commercialization…
  17. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 17
    Rationale of share capital reduction Outlook 2019 Self-funded plan at 50 dollars Brent Strategic update for 2018-2020 Increase shareholder remuneration to 1 /share with scrip option and buy-back Increase Total Shareholder…
  18. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 18
    On track to deliver 2020 strategic objectives Conclusions 1. Increasing shareholders returns 2. Growing our portfolio profitability Dividend increase by 6% in 2019 to 0.95/share * Strong CFFO generation : on track to deliver 2020…
  19. 2Q 2019 Earnings Presentation – Repsol S.A. – slide 19
    Second Quarter 2019 Results Repsol Investor Relations investorsrelationsrepsol.com 20

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