First Quarter 2014 Results – Shell Midstream Partners Lp
Shell Midstream Partners Lp ·
Apr 30, 2014 · 17 slides
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Slides
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BALANCING GROWTH & RETURNS FIRST QUARTER 2014 RESULTS 30 APRIL 2014 ROYAL DUTCH SHELL PLC Copyright of Royal Dutch Shell plc 30 April, 2014 1
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SIMON HENRY CHIEF FINANCIAL OFFICER ROYAL DUTCH SHELL PLC Copyright of Royal Dutch Shell plc 30 April, 2014 2
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2014 PRIORITIES Q1 2014 DELIVERY CCS earnings 7.3 billion Improve our financial Cash flow from operations 14 billion performance Increasing our dividend: Q1 2014 0.47 per share, +4.4% Enhance our Taking hard choices on…
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PRICES & MARGINS Shell oil & gas realisations Industry refining margins Industry chemicals margins /barrel /mscf /barrel /tonne 8 12 1000 110 9 800 7 6 600 100 3 400 6 90 0 200 80 5 -3 0 Q113 Q213 Q313 Q413 Q114 Q113…
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Q1 2014 FINANCIAL HIGHLIGHTS Earnings Q1 2013 to Q1 2014 Earnings Q1 2013 to Q1 2014 billion Q1 Q1 2013 2014 billion 8 0.1 (0.3) (0.0) UPSTREAM 5.7 5.7 DOWNSTREAM (CCS) 1.8 1.6 6 CORPORATE & MINORITIES 0.0 0.0 CCS NET EARNINGS…
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Q1 2014 FINANCIAL DRIVERS Group earnings Q1 2013 to Q1 2014 billion Environment Choice 8 0.4 (0.3) 0.1 (0.1) 0.1 (0.2) (0.2) (0.1) 6 7.3 7.5 4 Underlying EPS -2% Broadly similar environment Q1 Q1 Earnings CCS basis,…
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INTEGRATED GAS PERFORMANCE Record earnings Q1 14 Shells LNG portfolio High operational availability + strong trading contribution Spain Sakhalin Cove Point Elba Repsol LNG business Baja QG-4 successfully integrated Altamira…
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UPSTREAM PERFORMANCE Q1 2014 Earnings + cash flow Exploration expense billion billion (pre-tax) 6 2 10 1 6 2 2 0 Q113 Q213 Q313 Q413 Q114 Q113 Q213 Q313 Q413 Q114 -2 -2 Upstream International Upstream International Upstream…
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DOWNSTREAM RESTRUCTURING OUR PORTFOLIO Addressing underperforming portfolio Updated view on macro: Growth in LRS Keep and grow Industry gasoline surplus Industry refinery overbuild Attractiveness 2.6 billion Q1 2014 impairment…
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DOWNSTREAM PERFORMANCE Q1 2014 Earnings Cash flow billion billion 2 4 2 1 0 Q113 Q213 Q313 Q413 Q114 0 -2 Q113 Q213 Q313 Q413 Q114 Oil Products Chemicals -4 CFFO excl w/c movements CFFO Working capital movements Availability…
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CASH PERFORMANCE + PAYOUT CFFO 12 months rolling Group 12 months cash performance billion billion billion 50 15 Uses 60 40 Sources 10 40 30 20 5 20 10 0 0 0 Q113 Q213 Q313 Q413 Q114 Upstream Corporate Free cashflow (RHS) CFFO…
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COMPETITIVE PERFORMANCE: BALANCING GROWTH AND RETURNS 4Q ROLLING Cash flow from operations Free cash flow billion, 4Q rolling billion 60 60 50 50 40 40 30 30 20 20 10 10 - 0 2010 2011 2012 2013 Q114 2010 2011 2012 2013…
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PORTFOLIO DEVELOPMENT Q1 2014 Divestment / Exploration/ option progress FID Start-ups (Project re-framing) Norway Italy Australia DOWNSTREAM Denmark Engines ENGINE ML South UPSTREAM ENGINE LNG Canada FEED (12 mtpa)…
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DELIVER NEW PROJECTS: START-UPS 2014 Majnoon (Shell 45%) Mars B February 2014 start-up (Shell 71.5%) 225 kboed 40 kboed 150 30 20 75 10 0 0 Nov-13 Oct-13 Dec-13 Feb-14 Mar-14 Apr-14 Jan-14 kboed J F M A…
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2014 PRIORITIES Q1 2014 DELIVERY CCS earnings 7.3 billion Improve our financial Cash flow from operations 14 billion performance Increasing our dividend: Q1 2014 0.47 per share, +4.4% Enhance our Taking hard choices on…
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QUESTIONS & ANSWERS FIRST QUARTER 2014 RESULTS Copyright of Royal Dutch Shell plc 30 April, 2014 17
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BALANCING GROWTH & RETURNS FIRST QUARTER 2014 RESULTS 30 APRIL 2014 ROYAL DUTCH SHELL PLC Copyright of Royal Dutch Shell plc 30 April, 2014 18
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