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3Q 2019 Earnings Presentation – Rosneft Oil Company

Rosneft Oil Company · Nov 6, 2019 · 25 slides

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Slides

  1. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 1
    Rosneft Oil Company IFRS Results Q3 2019 November 6, 2019
  2. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 2
    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…
  3. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 3
    Responsible Business is the Companys Core Value Rosneft-2022 The Guidelines for Strategy: enter the The Energy Saving Innovative Rosneft-2022 The social sphere Methane Emission first quartile of Program in force Development…
  4. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 4
    Navigating OPEC+ Environment Crude oil and condensate production in Russia Brent price 5.0 mmbpd 11.6 90 /bbl 000 Rub/bbl 6 total Russia (RHS) Rub Rosneft (LHS) entry level for the production cut production losses (constraints on…
  5. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 5
    Production Dynamics Hydrocarbon production 9M 2019 vs 9M 2018 kboed 41 (46) 41 Robust development of major greenfields (Kondinskoe, Srednebotuobinskoe, Yurubcheno-Tokhomskoe, Russkoe, E. Messoyakha) Production ramp up at…
  6. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 6
    Vostok Oil the New Oil Province in the North of the Krasnoyarsk Region Strong government support Strategically important new production area to satisfy growing East-Taymyr Khatanga future global oil demand E&A licenses Dikson Tax…
  7. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 7
    Refining Refining margins Refining economics in Q3 2019 Russia 1 Europe /bbl Refining margin in Q3 2019 exceeded the Q2 level mainly due to positive macro including falling Brent and growing wholesale gasoline prices 9.23…
  8. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 8
    Focus on Distribution Channels Development Netbacks for the main crude oil marketing channels Crude oil marketing breakdown Export, Asia Export, Europe mmt Refining in Russia . Domestic market 430 59.1 61.7 66.3 390…
  9. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 9
    Earnings Growth EBITDA Q3 vs Q2 2019 Rub bn (2) 14 4 6 (17) 7 42 (4) (11) 554 (2) 2 515 External factors: Internal and seasonal factors: Rub -15 bn; -2.1% Rub +54 bn; +10.6% Q2 2019 Exchange rate Excess profit tax Export…
  10. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 10
    Efficient Cost Control Lifting costs Refining costs in Russia Rub/boe Quarter Average LTM % YoY Rub/bbl Quarter Average LTM % YoY 202 201 215 213 206 191 195 203 183 193 205 180 23.8% 12.0% 8.9% 5.4% 5.7% 6.7% 6.1% 2.1%…
  11. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 11
    CAPEX CAPEX Rub bn 9M 2019 CAPEX was Rub 634 bn, down 7% YoY following drilling program optimization aimed at horizontal wells share increase to improve brownfields efficiency 936 CAPEX program priorities: 922 maintaining stable…
  12. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 12
    Sustainable Free Cash Flow Generation Free cash flow and crude oil price (LTM) FCF, Rub bn 4.50 4.38 4.48 Uras, '000 Rub/bbl 4.25 4.15 3.68 1,133 1,188 1,102 3.26 916 874 422 286 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2…
  13. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 13
    Financial Stability Debt evolution Reimbursement of prepayments received Cash, cash equivalents and liquid financial assets bn bn Reclassification Net debt IFRS 16 effect Net debt/EBITDA Principal amount 2.1 1.7 +2,0 1.5 1.4 1.5…
  14. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 14
    Appendix
  15. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 15
    Key Operational Highlights Indicator Q3 19 Q2 19 % 9M 19 9M 18 % Hydrocarbon production, incl. 5,740 5,710 0.5% 5,783 5,747 0.6% kboed Liquids 4,661 4,618 0.9% 4,674 4,633 0.9% kbpd Gas 1,079 1,092 1,109 1,114 (1.2)% (0.4)%…
  16. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 16
    Key Financial Highlights Indicator Q3 19 Q2 19 % 9M 19 9M 18 % EBITDA, Rub bn 554 515 7.6% 1,617 1,593 1.5% Net Income, Rub bn 225 194 16.0% 550 440 25.0% attributable to Rosneft shareholders Adjusted net income1, Rub bn 262 230…
  17. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 17
    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 /…
  18. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 18
    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…
  19. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 19
    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 condensate, 3 reserves (PRMS) LPG and oil 4.9 bcm of gas 9M 2019 production 1.02 mmt of…
  20. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 20
    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: c. 11 bcmpa3 Phase 1 (Senomanian)…
  21. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 21
    Calculation of Adjusted OCF Profit and Loss Statement Cash Flow Statement 9M 2019, 9M 2019, Indicator Indicator bn bn 9.6 Net income 1 Indicator 100.6 Adjustments to reconcile net income to 8.5 2 cash flow from operations,…
  22. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 22
    Finance Expenses, Rub bn Indicator Q3 19 Q2 19 % 9M 19 9M 18 % 1. Interest accrued1 70 71 (1.4)% 215 208 3.4% 2. Interest paid2 70 68 2.9% 211 202 4.5% 3. Change in interest payable (1-2) 3 (100.0)% 4 6 (33.3)% 4. Interest…
  23. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 23
    Sensitivity Analysis 9M 2019 EBITDA and net income sensitivity to 9M 2019 EBITDA and net income sensitivity to +/- 10% change in Urals price +/- 10% change in Rub/ exchange rate Rub bn Rub bn EBITDA EBITDA (239) 239 (288)…
  24. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 24
    Openness and transparency in information disclosure ESG ratings increases in the nine months of 2019 rating + 4 rating + 8 A- A 59 63 B (77) (85) 55 (63) 2016 2017 2018 2016 2017 2018 rating + 12 57 48 45 2016 2017…
  25. 3Q 2019 Earnings Presentation – Rosneft Oil Company – slide 25
    Q&A

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