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September 2014 Investor Presentation – Repsol S.A.

Repsol S.A. · Sep 10, 2014 · 29 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. September 2014 Investor Presentation – Repsol S.A. – slide 1
    Strategic Plan 2012-2016 Investor Update September 2014
  2. September 2014 Investor Presentation – Repsol S.A. – slide 2
    Company Overview Repsol: A Transformation Story Strategic Plan 2012-2016 : Growing from our strengths Financial Outlook Environmental, Social & Governance Summary
  3. September 2014 Investor Presentation – Repsol S.A. – slide 3
    Norway Russia Canada Netherlands Ireland Italy Romania Spain Bulgaria USA Portugal Venezuela Tunisia Aruba Morocco Algeria Trinidad & Libya Tobago Mauritania Nicaragua Guyana Kurdistan Colombia Sierra Leone Ecuador…
  4. September 2014 Investor Presentation – Repsol S.A. – slide 4
    Total number of shares as of September 2014: 1,350.27 million. Updated September 3rd, 2014 Caixabank Sacyr Temasek Free Float (*) 11.89 11.89 9.05 9.05 6.14 6.14 Free Float 72.92 72.92 (*) On 11thNovember 2013…
  5. September 2014 Investor Presentation – Repsol S.A. – slide 5
    Results ( Million) FY2013 1Q 2013 1Q 2013 2Q 2014 Upstream 980 285 255 145 Downstream 1,003 123 290 162 Gas Natural Fenosa 458 128 123 159 Corporate and others (618) -135 -136 -76 ADJUSTED NET INCOME 1,823 401 532 390 Inventory…
  6. September 2014 Investor Presentation – Repsol S.A. – slide 6
    (4) Economic data ( Million) (1) FY2013 2Q 2013 1Q 2014 2Q 2014 EBITDA 6,230 872 1177 1025 EBIT 2,170 595 797 361 NET INCOME 195 267 807 520 CAPITAL EXPENDITURES 728 746 728 860 NET DEBT + PREFERENCE SHARES 4,722 6,320 4,722…
  7. September 2014 Investor Presentation – Repsol S.A. – slide 7
    Portfolio Management (4) Options to materialize value from our balance sheet through selective divestments (1) Accomplishing the transformation of Repsol Upstream into the Group's growth engine Very successful exploration…
  8. September 2014 Investor Presentation – Repsol S.A. – slide 8
    (1) FID (1) Start up (4) New areas of Exploration Norway GoM Alaska Brazil Sapinhoa Namibia Brazil Libya (Guar) Carioca I/R European (Lapa) Atlantic Cartagena Kurdistn Canada Angola Brazil Algeria Canaport Lubina-…
  9. September 2014 Investor Presentation – Repsol S.A. – slide 9
    High growth in Upstream Production growth 2011-16(1) : 7% CAGR(1) RRR(2) 2011-2016: 120% (+120% vs. average 2008-2011) Upstream average capex: 2.9bn/year(3) Maximize return on capital Downstream Downstream average Free Cash Flow:…
  10. September 2014 Investor Presentation – Repsol S.A. – slide 10
    Reserve Replacement Ratio 2010 131 % 2011 162 % 2013 U 1.1 Bn 2012 204 % Exploration Capex: 2014 (E) US 1.3 Bn 2013 275 % USD 1.0bn/year Including drilling, G&A and G&G RRR(2)110-120% 2013: 24 Additions to Proven Reserves:…
  11. September 2014 Investor Presentation – Repsol S.A. – slide 11
    2014 2015 Cruising (1) Maintaining speed Targeting +30 wells (includes contingencies, 30 wells, 2/3 wildcats, 1/3 appraisals from 40 in inventory) Around 1.5 billion barrels in working interest to Around 1.3 billion barrels in…
  12. September 2014 Investor Presentation – Repsol S.A. – slide 12
    Norway Alaska Russia Offshore Romania Canada Spain Kurdistan GoM Algeria Libya Offshore Mauritania Colombia Liberia Angola Brazil Namibia Operated Operated & non operated 31 wells to be spudded during 2014…
  13. September 2014 Investor Presentation – Repsol S.A. – slide 13
    Low risk of delivery: 7 projects already producing USA Mid-Continent Russia AROG (Russia) Africa & Europe Reggane (Algeria) Lubina- Montanazo 20 Kboed(1) 50 Kboed 48 Kboed (Spain) net production(1) WI: 49% 5 Kboed WI:…
  14. September 2014 Investor Presentation – Repsol S.A. – slide 14
    CAGR(1) 7% 2012-2016 Reserve Replacement Ratio(3) RRR 2013 275% Net Production Reserves 2013 1,515 Mboe 2012 332 kboed Contingent Resources 2013 346 kboed 2012 2.1 Bn boe (2) 2013 2.1 Bn boe 1Q14 342 Kboed (kboed) Production…
  15. September 2014 Investor Presentation – Repsol S.A. – slide 15
    Maximization of Integrated Margin in Downstream Refining Petrochemicals Reduce energy costs Maximize value of integration with refining. Fuel consumption & losses down by 6% Competitive Plan: at 2016 Higher-value applications…
  16. September 2014 Investor Presentation – Repsol S.A. – slide 16
    Competitive Downstream business, linked to quality assets and geographical situation Integrated R&M margin (Repsol vs. Sector) Presence in a premium market for refining Completion of expansion and conversion projects Integrated…
  17. September 2014 Investor Presentation – Repsol S.A. – slide 17
    Improved competitiveness of refining assets Oil pipeline Repsol Oil pipelines CLH % FCC equivalent CORUA 100% 1Q 2Q 3Q 4Q BILBAO 80% 60% TARRAGONA 40% 20% PUERTOLLANO CARTAGENA 0% 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14…
  18. September 2014 Investor Presentation – Repsol S.A. – slide 18
    Fully invested asset portfolio and portfolio management Refining margin to increase approx. 3 USD/bbl in 2016 due to new projects Leading middle-distillate yield in short neighboring markets Continue selective divestments of non-core…
  19. September 2014 Investor Presentation – Repsol S.A. – slide 19
    Downstream EBITDA Downstream CAPEX (bn/year) (bn/year) Higher margins largely derived from Downstream investment cycle expansion and conversion projects already finalized 25
  20. September 2014 Investor Presentation – Repsol S.A. – slide 20
    A liquid asset, with growth capabilities and a strong cash flow generator An European leading utility company with a strong footprint and Leading Utility growth in Latin America. Dividend Yield Strong cash stream for Repsol via…
  21. September 2014 Investor Presentation – Repsol S.A. – slide 21
    US 6.3 Billion obtained in the following transactions(1): Bond Date US Billion BONAR X 5/16/14 0.5 DISCOUNT 33 5/16/14 1.42 BODEN 15 05/16/14 - 05/27/14 0.3 BONAR 2024 5/13/14 2.81 YPF STAKE 1.31 11.86% Stake 5/7/14 1.26 0.48%…
  22. September 2014 Investor Presentation – Repsol S.A. – slide 22
    High Liquidity Sound Financial Position Liquidity Position Net Debt 11.2 Bn 5.4 3.1 Bn - 3 Bn Bn x 2.9 8.1 Bn 3.8 2.4 Bn Bn Short term Liquidity 2013 2Q14 maturities Financial Discipline: self-financed strategic plan…
  23. September 2014 Investor Presentation – Repsol S.A. – slide 23
    Positive Outlook Stable Outlook On May 15 Fitch upgraded Repsols Long-term rating from BBB- to BBB and S&P reviewed its outlook to Positive. On May 20 Moodys upgraded Repsols long-term rating to Baa2 from Baa3 and the short term…
  24. September 2014 Investor Presentation – Repsol S.A. – slide 24
    2,50 Dividend Yield = ( Gross Dividend during Year / average share price during year) (1) 2,00 (2) 1,50 1.00 1,00 (3) 0.48 0,50 0.96 0.48 - 2013 2014 (1) Dividend yield calculated with June 14 closing Price (2) On May…
  25. September 2014 Investor Presentation – Repsol S.A. – slide 25
    Capex 2013 = 3.1 bn Capex 2014(E) 3.6 bn Cumulative Capex(1) (2012-2016) - bn UPSTREAM LNG(3) DOWNSTREAM CORPORATION TOTAL Producing Assets 2.7 0.2 3.1 0.5 6.5 Growth projetcs & Future developments(2) & 12.0 0.6 12.6…
  26. September 2014 Investor Presentation – Repsol S.A. – slide 26
    Tracks & reports energy and carbon intensity KPIs. ENERGY & CARBON Strategy for reduction in our entire value chain. GHG emission reduction target. More than 2,5 million CO2eq emissions reduction in the period 2005-2012. Conduct…
  27. September 2014 Investor Presentation – Repsol S.A. – slide 27
    Lost-time injury frequency rate shows a decreasing trend. SOCIAL Corporate Regulation to assess potential impacts on human rights under the United Nations Protect, Respect and Remedy framework. Strong regulation on Relations with…
  28. September 2014 Investor Presentation – Repsol S.A. – slide 28
    Repsol led the Oil & Gas sector for two consecutive years, 2011 and 2012 (2nd position in 2013) the prestigious Dow Jones Sustainability Indexes. The company also leads the Oil & Gas sector on the European index (DJSI Europe).…
  29. September 2014 Investor Presentation – Repsol S.A. – slide 29
    Upstream as growth engine Positioned for Focus on exploration growth Delivery based on projects in development phase Balancing our capital employed: Diversification More OECD/non-OECD. More Oil vs Gas Maximize return on…

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