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3Q 2019 Earnings Presentation – Galp Energia

Galp Energia · Oct 22, 2019 · 18 slides

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Slides

  1. 3Q 2019 Earnings Presentation – Galp Energia – slide 1
    3Q19 Results & Strategy Update October 22, 2019
  2. 3Q 2019 Earnings Presentation – Galp Energia – slide 2
    3Q19 Key Highlights Robust cash flow generation despite weak contribution from refining 9M19 FCF of 694 m, covering FY dividends Corporate paid to shareholders Galp reconfirmed as an industry leader in the Dow Jones Sustainability…
  3. 3Q 2019 Earnings Presentation – Galp Energia – slide 3
    3Q19 Operational performance
  4. 3Q 2019 Earnings Presentation – Galp Energia – slide 4
    Downstream contribution impacted by weak refining performance Refining & Marketing Gas & Power Planned maintenance activities and additional restrictions in Stable contribution after strong September 1H19 3Q Implementation of…
  5. 3Q 2019 Earnings Presentation – Galp Energia – slide 5
    Upstream performance supported on ramp-up progression 3Q Outlook Overview WI Production of 126 kboepd, 4Q19 production to continue benefiting from the ramp-up in benefiting from units ramp-up, with Brazil and Angola, with…
  6. 3Q 2019 Earnings Presentation – Galp Energia – slide 6
    3Q19 Financial performance
  7. 3Q 2019 Earnings Presentation – Galp Energia – slide 7
    Operational results driven by upstream despite lower contribution from downstream Profit & Loss (m) 3Q18 2Q19 3Q19 3Q19 w/o IFRS 16 IFRS 16 IFRS 16 w/o IFRS 16 RCA Ebitda 642 615 619 571 E&P 396 408 469 434 Upstream performance…
  8. 3Q 2019 Earnings Presentation – Galp Energia – slide 8
    Solid cash generation 9M19 FCF of c.0.7 bn FCF 9M19 (m) IFRS 16 (389) 1,445 (23) 141 (141) 9M19 FCF of 694 m, covering full (46) year dividends paid to shareholders 1,856 (564) 3Q19 CFFO of 435 m, up 92 m (107) YoY, reflecting…
  9. 3Q 2019 Earnings Presentation – Galp Energia – slide 9
    Strategy update
  10. 3Q 2019 Earnings Presentation – Galp Energia – slide 10
    Capital allocation guidelines Balanced investments supporting long-term value creation Investment strategy Financial discipline Shareholder distribution Investing in sustainable growth Adding value while maintaining a Commitment to…
  11. 3Q 2019 Earnings Presentation – Galp Energia – slide 11
    Strengthening portfolio for resilience and long-term growth Sources and Uses 2020-22 (bn) 8 Develop upstream business for value 60/bbl flat Dividends to shareholders Adapt refining system, increasing asset Current…
  12. 3Q 2019 Earnings Presentation – Galp Energia – slide 12
    Unique Selective Attractive asset base growth Returns Increase portfolio resilience and competitiveness Investment for growth along the energy value chain Focus on project returns and financial discipline Balance net…
  13. 3Q 2019 Earnings Presentation – Galp Energia – slide 13
    Appendix
  14. 3Q 2019 Earnings Presentation – Galp Energia – slide 14
    3Q19 E&P Higher production offsetting lower oil price environment Main E&P data 3Q18 2Q19 3Q19 3Q19 w/o IFRS 16 IFRS 16 IFRS 16 w/o IFRS 16 Working interest production kboepd 103.8 111.8 125.5 Production up QoQ, with Brazil Oil…
  15. 3Q 2019 Earnings Presentation – Galp Energia – slide 15
    3Q19 R&M Performance impacted by refining operations Main R&M data 3Q18 2Q19 3Q19 3Q19 w/o IFRS 16 IFRS 16 IFRS 16 w/o IFRS 16 Galp refining margin USD/boe 5.8 3.0 3.9 Maintenance and operational Refining cost USD/boe 1.9 2.3 3.0…
  16. 3Q 2019 Earnings Presentation – Galp Energia – slide 16
    3Q19 G&P Normalised contribution from G&P activities Main G&P data 3Q18 2Q19 3Q19 3Q19 w/o IFRS 16 IFRS 16 IFRS 16 w/o IFRS 16 NG/LNG total sales volumes mm 3 2,024 1,887 1,803 Lower NG/LNG sales to Sales to direct clients mm3…
  17. 3Q 2019 Earnings Presentation – Galp Energia – slide 17
    Keeping a solid financial position Balance sheet (m) 31 Dec. 30 Jun., 30 Sep., 2018 2019 2019 Net fixed assets1 7,340 7,424 7,437 Cash generation during the first nine months leads to net debt Rights of use (IFRS 16) - 1,240…
  18. 3Q 2019 Earnings Presentation – Galp Energia – slide 18
    galp.com

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