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January December and Q4 2013 – OMV

OMV · Feb 19, 2014 · 45 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. January December and Q4 2013 – OMV – slide 1
    OMV results January December and Q4 2013 February 19, 2014 OMV Aktiengesellschaft
  2. January December and Q4 2013 – OMV – slide 2
    Strategic highlights and 2013 full year results Gerhard Roiss, Chairman of the Executive Board and CEO OMV Aktiengesellschaft
  3. January December and Q4 2013 – OMV – slide 3
    Market environment 2013 Brent oil price in USD/bbl 12/2013 113 01/2013 110 Oil price: Decreasing to avg. USD 109/bbl (2012: USD 112/bbl) Operating environment: Instability in Middle East and North Africa ongoing Gas prices:…
  4. January December and Q4 2013 – OMV – slide 4
    Financial performance in 2013 Clean CCS EBIT in EUR mn Exploration and Production (26)% Production decrease to 288 kboe/d (2012: 303) mainly due to political unrest (Libya) and 3,407 stops/maintenance (UK, New Zealand) Brent price…
  5. January December and Q4 2013 – OMV – slide 5
    2013 investments funded by strong cash generation Cash generation and uses in 2013 in EUR bn 5.8 5.8 Debt NWC North Sea Highest cash generation and CAPEX acquisition in OMVs history Dividends Upstream Group CAPEX 2013 (incl.…
  6. January December and Q4 2013 – OMV – slide 6
    Strong operational performance Cash flow from operations incl. divestments in EUR bn 5 4 3 2011 2012 2013 6 OMV Group, Results January - December and Q4 2013
  7. January December and Q4 2013 – OMV – slide 7
    What we promised in 2011 Asset base in % We aim to be a focused, 45 Downstream integrated oil and gas 65 company with improved overall profitability and 35 55 Upstream strong growth in upstream OMV OMV target portfolio portfolio…
  8. January December and Q4 2013 – OMV – slide 8
    Transforming OMV: We are delivering ahead of schedule Portfolio shift to upstream Asset base in % 49 45 Downstream 65 51 55 Upstream 35 2010 2013 2014E From low-return downstream…
  9. January December and Q4 2013 – OMV – slide 9
    Downstream: Cash for upstream growth Strong free cash flow from downstream 1 in EUR bn Executed downstream divestments 2.0 Significant net working capital reduction 1.0 Strong operational performance in oil downstream (e.g.…
  10. January December and Q4 2013 – OMV – slide 10
    Net working capital significantly reduced Group net working capital on balance sheet, in EUR bn Net working capital reduction Improved inventory management Payment term management Supply chain financing 1.7 1,7 1,3 1.3 1,3…
  11. January December and Q4 2013 – OMV – slide 11
    Achieving upstream growth OMV production kboe/d Focus on delivery 400 300 320-340 2006 2008 2010 2012 2014 2016 11 OMV Group, Results January - December and Q4 2013
  12. January December and Q4 2013 – OMV – slide 12
    Results Q4/13 David C. Davies, Deputy Chairman of the Executive Board and CFO OMV Aktiengesellschaft
  13. January December and Q4 2013 – OMV – slide 13
    Q4/13 Highlights Clean CCS EBIT in EUR mn Production at 277 kboe/d, down by 8%; E&P sales volumes down by 14% 956 Average Brent price at USD 109/bbl; EUR/USD at 1.36 Higher exploration expenses 698 G&P supported by renegotiated…
  14. January December and Q4 2013 – OMV – slide 14
    Economic environment Oil price and EUR/USD Gas prices in EUR/MWh OMV indicator refining margin in USD/bbl 140 1.36 1.4 35 4.5 30 4.0 135 1.30 4.0 30 28 130 1.3 3.5 125 25 27 27 120 1.2 3.0 115 110 109 20 2.5 110 1.1 15 15…
  15. January December and Q4 2013 – OMV – slide 15
    Results in Q4/13 Clean CCS net income attributable in EUR mn Q4/13 Q4/12 to stockholders in EUR mn 1 EBIT 213 791 (73)% Financial result (194) (104) 86% Profit from ordinary activities 19 687 (97)% 393 Taxes 41 (284) n.m. Effective…
  16. January December and Q4 2013 – OMV – slide 16
    Special items and CCS effect Q4/13 in EUR mn Q4/13 Q4/12 in EUR mn 444 Clean CCS EBIT 444 956 (43) CCS gains/(losses) (43) (37) (12) Clean EBIT 401 919 (165) Personnel related costs (12) (18) Unscheduled depreciation (165) (45)…
  17. January December and Q4 2013 – OMV – slide 17
    Cash flow 2013 in EUR mn 2013 2012 in EUR mn Net income 1,729 1,790 (3)% Depreciation and 2,253 2,036 11% (544) 673 amortization Other (544) (251) 117% 2,253 Sources of funds 3,437 3,576 (4)% Change in net working 1,729 673…
  18. January December and Q4 2013 – OMV – slide 18
    CAPEX and EBITD 2013 Key investments in Q4/13 in EUR mn 5,226 Asset acquisition from Statoil (UK and Norway) 4,891 Petrom drilling, workovers and redevelopment projects Field developments in Norway (Edvard Grieg and Aasta…
  19. January December and Q4 2013 – OMV – slide 19
    Mid-term guidance Production Group CAPEX kboe/d Group operating cash flow and planned divestments expected to 400 EUR 3.9 bn fund both the investment program as 320-340 well as dividends Dividend to increase in line with net…
  20. January December and Q4 2013 – OMV – slide 20
    Exploration and Production Clean EBIT in EUR mn Q4/13 vs. Q3/13 Q4/13 vs. Q4/12 698 6 578 (37) (261) (53) (143) (100) (39) (51) (49) 257 257 (35) Q3/13 Realization Volume Exploration DD&A Other Q4/13 Q4/12 Realization…
  21. January December and Q4 2013 – OMV – slide 21
    Exploration and Production Key Performance Indicators Hydrocarbon production (in kboe/d) Q4/13 vs. Q3/13 301 302 297 275 277 Production increased by 1% 159 163 159 138 First production in Norway (Gullfaks) 142 Security issues in…
  22. January December and Q4 2013 – OMV – slide 22
    Exploration and Production Petrom group Hydrocarbon production (in kboe/d) Q4/13 vs. Q3/13 183 183 184 182 181 Clean EBIT at EUR 286 mn down by 18%, 88 89 88 88 mainly due to 87 Higher production costs and royalties Lower oil…
  23. January December and Q4 2013 – OMV – slide 23
    Gas and Power Clean EBIT in EUR mn Q4/13 vs. Q4/12 (8) (2) (5) 36 80 59 Q4/12 Supply, Gas logistics Power Other Q4/13 marketing and trading Better EconGas result mainly due to improved gas supply Continuing…
  24. January December and Q4 2013 – OMV – slide 24
    Gas and Power Key Performance Indicators Gas sales and trading volumes in TWh Q4/13 vs. Q4/12 136 129 118 Gas sales volumes down by 17% 85 86 mainly due to weak industry demand low power plant demand Gas trading volumes down by…
  25. January December and Q4 2013 – OMV – slide 25
    Refining and Marketing Clean CCS EBIT in EUR mn Q4/13 vs. Q4/12 (91) 22 145 16 92 Q4/12 Fuels Petrochemicals Marketing Q4/13 Considerably lower OMV indicator refining margin Better petrochemicals margins Improved…
  26. January December and Q4 2013 – OMV – slide 26
    Refining and Marketing Key Performance Indicators Refining utilization rate in % Q4/13 vs. Q4/12 94 93 95 92 94 90 96 90 87 86 Overall refining utilization rate remained high Marketing sales volumes increased slightly Q4/12…
  27. January December and Q4 2013 – OMV – slide 27
    Key financial indicators Gearing ratio in % 30 26 15 15 12 Key financial principles Q4/12 Q1/13 Q2/13 Q3/13 Q4/13 Long-term gearing ratio target of 30% Payout ratio and DPS 1.20 1.25 Maintain a strong investment grade rating…
  28. January December and Q4 2013 – OMV – slide 28
    energize OMV update David C. Davies, Deputy Chairman of the Executive Board and CFO OMV Aktiengesellschaft
  29. January December and Q4 2013 – OMV – slide 29
    energize OMV: +2% points ROACE increase in 2014 on track ROACE impact Date of Progress since status end of 2013 finalization program start Stabilize production in Austria and 2014 Romania Accelerate production growth in Tunisia…
  30. January December and Q4 2013 – OMV – slide 30
    Expected ROACE impact in 2014 Impact of energize OMV on ROACE in 2014 (in % points) Major achievements 2013: Target 2% Successful field redevelopment projects in Pakistan (Mehar and Latif) brought around 4,000 boe/d by in 2014 end…
  31. January December and Q4 2013 – OMV – slide 31
    Upstream Key achievements 2013 Stabilize production in Romania Accelerate production growth in Ongoing development and and Austria Tunisia and Pakistan operational excellence in rest of world Facilities debottlenecked Accelerate…
  32. January December and Q4 2013 – OMV – slide 32
    Downstream Key achievements 2013 Reduce working capital Optimize marketing Improve refining Optimize G&P portfolio National stockholding Benefits of EUR 55 mn Benefits of EUR 93 mn Cost reduction for 2013: business in Austria: EUR…
  33. January December and Q4 2013 – OMV – slide 33
    Exploration and Production Jaap Huijskes, Executive Board member responsible for E&P OMV Aktiengesellschaft
  34. January December and Q4 2013 – OMV – slide 34
    We deliver Strong project pipeline World class exploration Clear growth path to 2016 and beyond Creating a sustainable business 34 OMV Group, Results January - December and Q4 2013
  35. January December and Q4 2013 – OMV – slide 35
    E&P project update Q4/13 Exploration only Exploration and Production Continuous strong project pipeline Wisting (1bn boe) Rosebank 550 mn boe under appraisal Wisting oil discovery FRD Madulari New FRDs FRDs Romania (Bacea,…
  36. January December and Q4 2013 – OMV – slide 36
    Major projects under development New ventures Exploration Appraisal Development Execution Production Peak Project Working Project Country Type 2P reserves Operated start production investments interest primary year mn boe kboe/d EUR…
  37. January December and Q4 2013 – OMV – slide 37
    Major projects under appraisal New ventures Exploration Appraisal Development Execution Production Cumulative Working Project Country Type Operated start production interest primary year mn boe % FRD Romania Oil/Gas 2014-2017…
  38. January December and Q4 2013 – OMV – slide 38
    Our path to 400 kboe/d Production kboe/d 2010 318 2011 288 Impacted by 2012 303 political Production 2013 288 unrest 1 Project Country Type 2 FID start Norway FRDs Romania Oil/Gas 2013-2015 Tunisia FRDs Austria Oil/Gas…
  39. January December and Q4 2013 – OMV – slide 39
    Exploration update Q4/13 Exploration only Around the world: Exploration and Production Seismic: Wisting Central Bonna Wisting Main Bulgaria: 7,700 km2 3D seismic (finished in January Cambo-5 2014) Newly secured acreage: Gabon…
  40. January December and Q4 2013 – OMV – slide 40
    Drilling up to 17 high impact wells 1 (2014/15) Exploration only Spud Working Well Country Basin/Block Type 2 Operated Exploration and Production date 3 interest Atlantis High impact well Apollo Jupiter Byrkje NO Barents Sea E…
  41. January December and Q4 2013 – OMV – slide 41
    2014 production guidance confirmed Pakistan: Additional production from Mehar and Latif New Zealand: Resumed production following the successful repair of Raroa 2014 production guidance Norway: Gullfaks production as per plan;…
  42. January December and Q4 2013 – OMV – slide 42
    Outlook Gerhard Roiss, Chairman of the Executive Board and CEO OMV Aktiengesellschaft
  43. January December and Q4 2013 – OMV – slide 43
    Outlook 2014 Oil price above USD 100/bbl G&P markets remain highly challenging Refining margins remain under pressure Marketing volumes remain under pressure Production in the range of 320-340 kboe/d CAPEX EUR 3.9 bn (80%…
  44. January December and Q4 2013 – OMV – slide 44
    Transforming OMV: Profitable growth Value generation ROACE target 1st wave 2nd wave Execute projects and Portfolio shift from increase value of up- down to upstream and downstream portfolio 44 OMV Group, Results January -…
  45. January December and Q4 2013 – OMV – slide 45
    OMV Aktiengesellschaft

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