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ANNUAL GENERAL MEETING – Mol Group

Mol Group · Apr 25, 2013 · 16 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. ANNUAL GENERAL MEETING – Mol Group – slide 1
    ANNUAL GENERAL MEETING 25 April 2013
  2. ANNUAL GENERAL MEETING – Mol Group – slide 2
    2012 WAS A DIFFICULT BUT SUCCESSFUL YEAR USD 2.5 BN CLEAN EBITDA GENERATION IN 2012 50% FROM INTERNATIONAL OPERATION, 70% FROM UPSTREAM GROUP NEGATIVE CHANGES OF THE REGULATORY ENVIRONMENTS FURTHER STRENGTHENED FINANCIAL…
  3. ANNUAL GENERAL MEETING – Mol Group – slide 3
    FULL YEAR CCS RESULTS ARE ONLY SLIGHTLY BELOW 2011, DESPITE THE LACK OF SYRIAN REVENUE (IFRS), in HUF billion FY 2011 (1) FY 2012 Ch. % EBITDA 603 540 (10) EBITDA excl. special items(2) 645 587 (9) o/w Upstream 484 417 (14) o/w…
  4. ANNUAL GENERAL MEETING – Mol Group – slide 4
    UPSTREAM EBITDA* DECREASED DUE TO THE LACK OF SYRIAN REVENUES EBITDA* (HUF bn) Negative effects of: 14% 75 Lack of Syrian revenues (HUF 75 in 2011) 409 417 - Lower production mainly in the CEE region FY 2011 FY 2012 EBITDA*…
  5. ANNUAL GENERAL MEETING – Mol Group – slide 5
    DOWNSTREAM CLEAN* R&M EBITDA WAS THE BEST SINCE 2008 Clean* R&M EBITDA Group (HUF bn) Results improvement was due to: Improving crack spreads and stronger USD +106% 168 Better product slate + New Downstream programs efficiency…
  6. ANNUAL GENERAL MEETING – Mol Group – slide 6
    FURTHER DECREASE OF REGIONAL PRODUCT DEMAND, EVEN IN DIESEL Demand of motor fuels decreased in the CEE Permanently high price & worsening economic outlook Our motor fuel sales volumes were better than the market average due to…
  7. ANNUAL GENERAL MEETING – Mol Group – slide 7
    GAS MIDSTREAM RESULTS DESREASED EBITDA* (HUF bn) Positive contribution of FGSZ & MMBF due to 33% higher international transit revenues higher condensate sales from MMBF 86 + 58 were more than offset by Croatian Gas trading…
  8. ANNUAL GENERAL MEETING – Mol Group – slide 8
    CONSERVATIVE CAPEX POLICY OPERATING CF COVERED ALL THE CAPEX Operating Cash flow vs Total CAPEX Organic CAPEX: HUF 254 bn +2% +22% +5% 12% Hungary 11% 31% Croatia 454 Slovakia 373 13% kurdistan 275 289 16% Russia 17%…
  9. ANNUAL GENERAL MEETING – Mol Group – slide 9
    CONTINUOUSLY STRENGTHENING FINANCIAL POSITION Covenants Gearing (%) 3,5 5 40 36 Limit of net debt to EBITDA 3 35 33 4 31 30 28 2,5 3,0 25 3 25 2 2,5 (%) 2,4 2,2 20 2,0 1,5 2 15 1 10 1 0,5 5 0 0 0 2 008 2…
  10. ANNUAL GENERAL MEETING – Mol Group – slide 10
    Outlook for the period of 20132014 11
  11. ANNUAL GENERAL MEETING – Mol Group – slide 11
    KEY CHALLENGES AND TASKS OF 20132014 UPSTREAM TO MITIGATE THAN STOP THE PRODUCTION DECLINE, SECURING FIRM OPERATING CASHFLOW BASE TO EXPLORE AND DERISK THE HYDROCARBON POTENTIAL ENSURING MID TERM GROWTH WITH SPECIAL FOCUS ON THE…
  12. ANNUAL GENERAL MEETING – Mol Group – slide 12
    PRODUCTION SHOULD STABILIZE AT AROUND 110 MBOEPD Production outlook* 115 mboepd 110 mboepd Other Pakistan Russia mboepd Croatia Upstream Hungary In 2014/15, gradually increase within the range of 110120…
  13. ANNUAL GENERAL MEETING – Mol Group – slide 13
    CEE: MAXIMIZE RECOVERY RATES FROM EXISTING FIELDS HUNGARY AND CROATIA Our aim is to mitigate the natural decline rate to below 5%... with large scale investment programs Further exploration activities to exploit the remaining…
  14. ANNUAL GENERAL MEETING – Mol Group – slide 14
    KEY SOURCE OF GROWTH ARE THE INTERNATIONAL ASSETS KURDISTAN REGION OF IRAQ Three discoveries (Bijell, Bakrman, Shaikan) Derisk 725 MMboe recoverable resource potential* (WI) in the next years Reserve bookings in the next two…
  15. ANNUAL GENERAL MEETING – Mol Group – slide 15
    IMPROVING OPERATION IN A CHALLENGING ENVIORONMENT KEY CHALLENGES / TRENDS RESPONSES New Downstream program efficiency Refinery margins remain under improvement pressure 600 500550 mn USD 500 Still falling motor fuel demand…
  16. ANNUAL GENERAL MEETING – Mol Group – slide 16
    USD 1.5 BN ORGANIC CAPEX PLAN (2013) WITH STRONG UPSTREAM FOCUS Historic CAPEX CAPEX in 2013 1,6 DOWNSTREAM 1,4 Strict control on sustain CAPEX 1,2 1,0 Growth investments (50%) 0,8 New DS Program efficiency 0,6 Retail, Logistics and…

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