LyondellBasell Industries NV · NYSE:LYB
LyondellBasell Industries NV — Q1 2011 Earnings Presentation
14 slides from LyondellBasell Industries NV's earnings presentation, May 2, 2011
Slide 1: First-Quarter 2011 Earnings
First-Quarter 2011 Earnings Jim Gallogly, Chief Executive Officer Kent Potter, Chief Financial Officer Sergey Vasnetsov, SVP – Strategic Planning and Transactions Doug Pike, VP – Investor Relations May 2, 2011
Slide 2: Cautionary Statement
Cautionary Statement The information in this presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. Actual outcomes and resu
Slide 3: Information Related to Financial Measures
Information Related to Financial Measures We have included EBITDA in this presentation, which is a non-GAAP measure, as we believe that EBITDA is a measure commonly used by investors. However, EBITDA, as presented herein, may not be comparable to a similarly titled measure reported by other companie
Slide 4: Highlights
Highlights $, Million (except per share data) 1Q11 4Q10 1Q10 (1) EBITDA 1,402 762 640 Net Income 660 766 8 Diluted Earnings ($/share) 1.15 1.34 - (1) Net Debt / LTM EBITDA 0.4x 0.5x - QuarterlyEBITDA Quarterly EBITDAincrease increaseof of84% 84%from from4Q10, 4Q10,119% 119%from from1Q10 1Q10 Quarter
Slide 5: LyondellBasell Safety Performance
LyondellBasell Safety Performance 0.50 Injuries per 200,000 hours worked (Employees and Contractors) 0.40 0.30 0.20 0.10 0.00 2006 2007 2008 2009 2010 Mar-11 YTD • Overall safety performance is among the best in the industry • Contractor performance has improved significantly over the last two quart
Slide 6: First-Quarter 2011 and Last-Twelve-Months Segment EBITDA
LyondellBasell First-Quarter 2011 and Last- Twelve-Months (LTM) Segment EBITDA 1Q11 EBITDA LTM EBITDA (1), (2) $1,402 million $4,797 million ex $42 million LCM charge 1Q11 Operating Income LTM Operating Income (2), (3) $1,065 million $3,642 million First-Quarter 2011 EBITDA March 2011 LTM EBITDA 600
Slide 7: Cash Flow
Cash Flow First Quarter 2011 Since Emergence (May 1, 2010) 5,000 6,000 5,500 4,750 5,000 USD, millions USD, millions 4,500 4,383 4,500 4,383 4,000 4,222 3,500 4,250 3,000 2,711 4,000 2,500 1Q 11 C a s h F lo w Wo rk ing (1) D e bt C a pe x(2) O t he r 1Q 11 E nding May 1, 2010 Cash Flow Working(1) D
Slide 8: Working Capital and Liquidity
Working Capital and Liquidity Working Capital (1) Liquidity 7 6 8 5 USD, billion 6 4 USD, billion 4 3 2 2 1 0 0 1Q09 2Q 3Q 4Q 1Q10 2Q 3Q 4Q 1Q11 1Q09 2Q 3Q 4Q 1Q10 2Q 3Q 4Q 1Q11 -2 -4 Snapshot at Mar. 31, 2011 -6 Total WC Inventory AR AP Liquidity: ~ $6.3 billion Net Debt: ~ $1.7 billion 1) Beginnin
Slide 9: Olefins & Polyolefins – Americas
Olefins & Polyolefins – Americas Highlights and Business Drivers – 1Q11 EBITDA (1) Trend Performance vs. 4Q10 600 EBITDA Margin Volume U.S. Olefins 500 • Expanded ethylene margin • ~70% of ethylene from NGLs USD, million 400 Polyethylene 300 • Volume improvement from seasonally lower fourth quarter
Slide 10: Olefins & Polyolefins – Europe, Asia, International
Olefins & Polyolefins – Europe, Asia, International Highlights and Business Drivers – 1Q11 EBITDA (1) Trend Performance vs. 4Q10 350 EBITDA Margin Volume EU Olefins 300 • Margin recovery from crude oil based 250 squeeze in the fourth quarter USD, million • Butadiene remains strong 200 Polyethylene 1
Slide 11: Intermediates & Derivatives
Intermediates & Derivatives Highlights and Business Drivers – 1Q11 EBITDA (1) Performance vs. 4Q10 300 EBITDA Margin Volume Propylene Oxide and Derivatives • Slight margin compression on higher 200 raw material costs USD, millions • Seasonal deicer sales Intermediates • Increased EBITDA across most
Slide 12: Refining & Oxyfuels
Refining & Oxyfuels Highlights and Business Drivers – 1Q11 EBITDA (1) Trend Performance vs. 4Q10 EBITDA Margin Volume 250 Houston Refinery • Crude thruput: 258 MB/D 200 • Maya 2-1-1: $23.69 / bbl USD, million • Margin expansion, Houston FCCU 150 turnaround 100 Berre Refinery • Crude thruput: 101 MB/
Slide 13: Technology Highlights and Business Drivers – 1Q11
Technology Highlights and Business Drivers – 1Q11 First-Quarter 2011 Results $91 million EBITDA • Continued strong catalyst results • Licensing income from previous activity Lupotech Technology lyondellbasell.com First-Quarter 2011 Earnings 13
Slide 14: First-Quarter Summary and Outlook
First-Quarter Summary and Outlook First-Quarter Summary Near-term Outlook • Margin increases across most • Houston refinery operating with businesses despite raw material cost improved FCCU and strong industry pressures spreads • European cracker margin recovery • Channelview olefins plant turnaroun
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