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1Q 2019 Earnings Presentation – Rosneft Oil Company

Rosneft Oil Company · May 13, 2019 · 24 slides

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Slides

  1. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 1
    Rosneft Oil Company IFRS Results Q1 2019 May 13, 2019
  2. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 2
    Navigating OPEC+ Environment Crude oil and condensate production in Russia Brent price 5.0 11.6 90 6 total Russia (RHS) mmbpd /bbl 000 Rub/bbl Rub Rosneft (LHS) entry level for the production cut by the Company 4.8 11.2 75 5…
  3. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 3
    Production Dynamics Hydrocarbon production Q1 2019 vs Q1 2018 kboed (12) 56 31 34 36 Robust development of major greenfields 49 (Kondinskoe, Srednebotuobinskoe, Yurubcheno-Tokhomskoe) Strong operating performance at Yugansk…
  4. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 4
    Refining Efficiency Optimization Crude oil processing Q1 2019 results outside Russia mmt Reducing capacity utilization following a decrease in in Russia the current demand for petroleum products 2.7 Maintenance and recovery works at…
  5. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 5
    Focus on High-margin Distribution Channels Netbacks for the main crude oil marketing channels Crude oil marketing breakdown Export, Asia Export, West mmt Refining in Russia . Domestic market 55.4 61.1 60.0 450 400…
  6. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 6
    Efficient Control over the Costs Lifting costs Refining costs in Russia Rub/boe Quarter 12M average % YoY Rub/bbl Quarter 12M average % YoY 196 188 215 205 195 183 185 193 180 192 168 172 12.0% 10.1% 8.9% 3.8% 5.4% 2.1% 3.0%…
  7. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 7
    Earnings Recovery EBITDA Q1 2019 vs Q4 2018 Rub bn 14 (11) (1) 4 (1) 33 (4) (9) (5) 13 (9) 77 (40) (1) 548 488 Internal and seasonal factors : External factors : Rub +39 bn; +8.0% Rub +21 bn; +4.3% Q4 2018 Exchange rate…
  8. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 8
    Focused on Value and Growth CAPEX Rub bn Q1 2019 CAPEX was Rub 214 bn, nearly unchanged YoY (-4%) Rosneft CAPEX program priorities: 922 936 maintaining stable production at brownfields through successful drilling and wellworks while…
  9. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 9
    Sustainable Free Cash Flow Generation Free cash flow (LTM) Rub bn 1,133 1,188 916 The Companys free cash flow exceeded 18 bn for the last 12 month 422 286 Rosneft is one of the leaders globally in terms of free cash flow…
  10. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 10
    Financial Stability Debt evolution Reimbursement of prepayments received bn Cash, cash equivalents and other liquid financial assets bn Reclassification Net debt IFRS 16 effect Principal amount Net debt/EBITDA 2.1 1.7 +2,0 1.5…
  11. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 11
    Appendix
  12. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 12
    Key Operational Highlights Indicator Q1 2019 Q4 2018 % Q1 2019 Q1 2018 % Hydrocarbon production, incl. 5,902 5,938 (0.6)% 5,902 5,708 3.4% kboed Oil and liquids 4,744 4,792 (1.0)% 4,744 4,566 3.9% kbpd Gas 1,158 1,146 1,158…
  13. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 13
    Key Financial Highlights Indicator Q119 Q418 % Q119 Q118 % EBITDA, Rub bn 548 488 12.3% 548 385 42.3% Net Income, Rub bn 131 109 20.2% 131 81 61.7% attributable to Rosneft shareholders Adjusted net income1, Rub bn 242 185 30.9% 242…
  14. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 14
    Responsible Business is the Companys Core Value Rosneft-2022 Strategy: enter the The Energy Saving Innovative Rosneft-2022 The social sphere UN Global Compact first quartile of Program in force Development Strategy: investments…
  15. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 15
    Improving Rosnefts Investment Case through Effective ESG Communications On December 20, 2018 the Board of Directors approved Rosneft strategy related to commitment to the 17 Sustainable Development Goals of the United Nations1 Rosneft…
  16. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 16
    Projects Launched in 20162017 Indicator Suzun E. Messoyakha2 Location Krasnoyarsk Territory Yamal-Nenets Autonomous District 3 PRMS reserves1 82 mmtoe / 623 mmboe 248 mmtoe / 1,707 mmboe Commissioning year 2016 2016 Production in 2018 /…
  17. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 17
    Projects Launched in 2018 Indicator Tagul field Taas-Yuryakh (Srednebotuobinskoye field, Phase 2) Location Krasnoyarsk Territory The Sakha Yakutia Republic 3 PRMS reserves1 456 mmtoe/ 3,251 mmboe 281 mmtoe/ 2,053 mmboe Commissioning…
  18. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 18
    Progress on a Key Project: Rospan Major driver of the Company near-term production growth Indicator Value 891 bcm of gas, 207 mmt of gas 3 reserves (PRMS) condensate, LPG and oil 6.63 bcm of gas 2018 production 1.39 mmt of…
  19. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 19
    Gas Greenfield Development: Kharampur The most significant (after Rospan) project in terms of gas production growth1 Indicator Value 3 reserves (PRMS), gas 650 bcm2 Gas production plateau: Phase 1 c. 11 bcmpa3 (Senomanian)…
  20. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 20
    Calculation of Adjusted OCF Profit and Loss Statement Cash Flow Statement Q1 2019, Q1 2019, Indicator Indicator bn bn 2.3 Net income 1 1 Revenue, incl. 31.9 Adjustments to reconcile net income to 3.6 2 Reimbursement of…
  21. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 21
    Finance Expenses, Rub bn Indicator Q1 2019 Q4 2018 % Q1 2019 Q1 2018 % 1. Interest accrued1 74 73 1.4% 74 65 13.8% 2. Interest paid2 73 82 (11.0)% 73 61 19.7% 3. Change in interest payable (1-2) 1 (9) 1 4 (75.0)% 4. Interest…
  22. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 22
    Marginal Effect from IFRS 16 Leases Implementation Starting January 1, 2019 the new accounting standard IFRS 16 Leases came into effect. According to the standard operating leases previously taken to the profit and loss statement…
  23. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 23
    Sensitivity Analysis Q1 2019 EBITDA and net income sensitivity to Q1 2019 EBITDA and net income sensitivity to +/- 10% change in Urals price +/- 10% change in Rub/ exchange rate Rub bn Rub bn EBITDA EBITDA (83) 83 (93) 93…
  24. 1Q 2019 Earnings Presentation – Rosneft Oil Company – slide 24
    Q&A

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