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1Q 2020 Earnings Presentation – Repsol S.A.

Repsol S.A. · May 8, 2020 · 39 slides

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Slides

  1. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 1
    Investor Update May 8th, 2020 0
  2. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 2
    1. Company overview 2. Resilience plan 2020 3. Operational highlights 1Q20 4. Net zero emissions 2050 5. Upstream 6. Industrial 7. Commercial and Renewables 8. Outlook 2020 9. Historic data book
  3. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 3
    1 Company overview
  4. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 4
    Repsol: a unique, integrated global position Company Overview Upstream Industrial Commercial and Renewables Upstream Refining Chemical Mobility Gas&Power Installed Refineries Total production Service stations Production…
  5. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 5
    Worldwide presence Company Overview 8.2% Sacyr 91.8% Free Float Upstream Downstream Both 23% of retail shareholders 30% of institutional shareholder base managed under ESG criteria 5
  6. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 6
    Integrated model and portfolio flexibility to withstand crisis Company Overview Tier-1 Resilience Plan that stands out in 2020 self-finance commitment to face the the sector crisis: Net Debt flat vs. Dec2019 Sustainable…
  7. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 7
    Increasing shareholder remuneration and full buyback of scrip Company Overview Dividend per share based on disbursement year CAGR +8% /share 0.80 (1) 0.95 (1) 1.00 0.90 (1) Historic cash dividend Buybacks Historic scrip…
  8. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 8
    2 Resilience plan 2020
  9. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 9
    Expected savings of 2.2 B in a challenging macro scenario Resilience plan 2020 Public Domain Companies Cuts over 2019 CFFO Resilience Plan 2020(1) 73% Opex and WC Opex 350 M 54% Capex Cuts Capex 1,000 M (60% in Upstream) Buybacks…
  10. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 10
    Through capex, opex cuts and working capital release Resilience plan 2020 1 Capex Savings of 1 B in 2020 2020 2020 New Reduction 2 Budget budget WC Savings of 0.8 B in 2020 Company capex 3.8 B 2.8 B -26% Change in payment…
  11. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 11
    Solid financial position that covers obligations beyond 2024 Resilience plan 2020 As of March 2020 Total liquidity (B) Debt Maturities covers 1.6x 8.1 short-term Committed Credit Lines 2.7 debt maturities and long term beyond…
  12. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 12
    3 Operational highlights 1Q20
  13. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 13
    Upstream production increases Y-o-Y Operational highlights 1Q20 (Kboed) +52 -3 710 700 -13 -27 Europa & Latin North Asia, Africa America America Russia & Rest of the world 1Q19 1Q20 Higher volumes in Eagle Ford,…
  14. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 14
    Resilient performance of Industrial businesses Operational highlights 1Q20 Refining 4.7 /bbl refining margin indicator Premium in the CCS unit margin despite volatile environment and lower utilization rates 82% distillation…
  15. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 15
    Commercial and Renewables Operational highlights 1Q20 Mobility COVID-19 negatively impacting sales since mid-March Robust performance: higher margins and international businesses Lubricants contribution Negative impact from…
  16. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 16
    1Q20 results Operational highlights 1Q20 Results ( Million) Q1 2020 Q1 2019 Upstream 90 323 Industrial 288 271 Commercial and Renewables 121 137 Corporate and Others (52) (113) Adjusted Net Income 447 618 Net Income (487) (1)…
  17. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 17
    4 Net zero emissions 2050
  18. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 18
    Strategy towards achieving net zero emissions in 2050 Net zero emissions 2050 New emissions reduction objectives of Carbon Our challenge: Intensity Indicator1 Lead the Energy transition in line with the objective of the Paris…
  19. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 19
    Natural gas and energy efficiency as main levers Net zero emissions 2050 1 Natural Gas role 2 Energy efficiency 3 Low Carbon 4 Technological developments 64% of our production Reduce our Energy Generation and Capture, usage…
  20. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 20
    Upstream: cash generator in challenging price scenarios Net zero emissions 2050: Upstream Upstream Portfolio improvement Capex and Exploration Energy Transition Assets Unconventional investment flexibility Emission reductions…
  21. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 21
    Industrial: circularity and emission reduction Net zero emissions 2050: Industrial Refining Chemical First quartile of European refining Raw materials Optimization and digitization Flexibility Emission reduction Increasing…
  22. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 22
    Commercial and G&P: customer centric, multi-energy offer Net zero emissions 2050: Commercial and Gas & Power Commercial Gas & Power Customer centric and integrated energy offer 7.5 GW low carbon generation target by 2025 Actual…
  23. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 23
    New business segments aligned with strategic vision Net zero emissions 2050 Upstream Industrial Commercial and Hydrocarbon Exploration Refining Renewables and Production Chemicals Mobility Trading Lubricants Wholesale & Gas…
  24. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 24
    5 Upstream
  25. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 25
    4 core regions in the portfolio Upstream North America Europe & Africa Unconventional portfolio, operatorship and High margin barrels, key development valuable midstream positions projects from exploration succes 182 kboe/d 121…
  26. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 26
    Exploration success in core areas Upstream Gulf of Mexico Alaska Colombia 6 discoveries in 2020 with US: Monument (WR 272 block) Mitquq and Stirrup positive Positive results of the Lorito combined gross resources of Mexico: Polok and…
  27. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 27
    6 Industrial
  28. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 28
    Top quartile position among European peers Industrial: Refining 5 refineries optimized as a single system Top quartile position among European peers (1) CORUA % FCC Equivalent BILBAO 100% TARRAGONA 1Q 2Q 3Q 4Q 80% 60%…
  29. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 29
    Competitive positioning in Chemicals Industrial: Chemical Strong and Integrated position in Spain and Portugal High flexibility of feedstocks Feedstock to crackers LPGs (%) 60% 50% TARRAGONA 40% (3,050 kT/y) PUERTOLLANO Total…
  30. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 30
    7 Commercial & Renewables
  31. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 31
    Multi-energy offer with 3 GW installed capacity of clean energy Commercial and Renewables More than 4,900 service stations in 5 countries International expansion in Lubricants Repsol's market share Spain Leadership in Spain…
  32. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 32
    Accelerated delivery of 2025 objectives in Low Carbon Commercial and Renewables: Gas & Power 700 MW Hydro Installed 1,650 MW CCGT capacity + 600 MW Cogeneration 3 GW WindFloat Atlantic: 5 MW Generation Delta: 335 MW PI: 255…
  33. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 33
    8 Outlook 2020
  34. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 34
    Preserving the balance sheet and investment grade Outlook 2020 FY2020 Operating Production 650 kboed Value over volume. 630 Kboed without Libya metrics Ref. margin indicator 4 /bbl Demanding macroeconomic environment Financial…
  35. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 35
    9 Historic data book
  36. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 36
    Environment and Repsol group Historic data book MACRO ENVIRONMENT International References Unit 2017 2018 2019 Spreads vs. Brent (/bbl) 2017 2018 2019 Brent (/Bbl) 54.2 71.3 64.2 Maya - Brent [9.7] [10.6] [11.1] WTI (/Bbl) 50.9…
  37. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 37
    Upstream Historic data book Production Proven reserves Kboe/d Mboe 2017 2018 2019 2017 2018 2019 Main figures (M) 2017 2018 2019 Europe 51 60 61 59 102 88 Adjusted Net Income 632 1,325 1,050 Latin America 348 342 333 1,490 1,419…
  38. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 38
    Downstream Historic data book Downstream Assets Refining capacity Refining (kbbl/d) Converson index (%) Businesss Unit 2017 2018 2019 Spain 896 63 Refining Bilbao (Petronor) 220 63 Distillation utilization Tarragona 186 44 Spain %…
  39. 1Q 2020 Earnings Presentation – Repsol S.A. – slide 39
    Investor Update May 8th, 2020 Repsol Investor Relations investorsrelationsrepsol.com 39

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