Omv Petrom Sa · BVB:SNP
Omv Petrom Sa — Q2 2021 Earnings Presentation
29 slides from Omv Petrom Sa's earnings presentation, Jul 28, 2021
Slide 1: OMV Petrom Q2/21 Results Conference Call
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Christina Verchere Chief Executive Officer and President of the Executive Board Alina Popa Chief Financial Officer The spoken word applies. Check against delivery. Page 1 of 29
Slide 2: Intro
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Christina Verchere – OMV Petrom – CEO Slide 1 – Intro Good afternoon, ladies and gentlemen, and a warm welcome from my side. Thank you for joining our call. I hope you and your families are all safe and healthy. Page 2 of 29
Slide 3: Legal Disclaimer
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 2 – Legal Disclaimer Please let me first draw your attention to our Legal Disclaimer, which you can read in detail on slide 2. Page 3 of 29
Slide 4: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 4 of 29
Slide 5: Improving economic environment
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 3 – Improving economic environment Let me start with some highlights regarding commodity prices and main currencies in the second quarter of 2021. The oil prices, both Brent and Urals, increased during the quarter by more than 12 percent,
Slide 6: OMV Petrom Q2/21 Results Conference Call, July 28, 2021 CO2 prices, which saw a
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 CO2 prices, which saw a steep increase, in the context of reduction in the number of CO2 allowances. Page 6 of 29
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OMV Petrom Q2/21 Results Conference Call, July 28, 2021 This page was left blank intentionally. Page 7 of 29
Slide 8: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 8 of 29
Slide 9: Romanian environment recovered to pre-COVID levels
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 4 – Romanian environment recovered to pre-COVID levels Now looking at the Romanian environment, the state of alert was prolonged, but with restrictions gradually eased. This loosening, in the context of reduced number of new COVID cases a
Slide 10: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 10 of 29
Slide 11: Key messages Q2/21
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 5 – Key messages Q2/21 On slide 5, we present the key highlights for the quarter. When making the year-on-year comparisons, we should remember that the second quarter of 2020 was extremely challenging for our industry, due to the outbreak
Slide 12: OMV Petrom Q2/21 Results Conference Call, July 28, 2021 energy security. And LNG represents
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 energy security. And LNG represents a cleaner solution for the mobility sector. In May, we announced an electric mobility partnership with Renovatio to install at least 40 fast and ultra-fast recharging stations in the OMV and Petrom filling st
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OMV Petrom Q2/21 Results Conference Call, July 28, 2021 This page was left blank intentionally. Page 13 of 29
Slide 14: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 14 of 29
Slide 15: Operational performance reflects recovering, yet challenging market environment
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 6 – Operational performance reflects recovering, yet challenging market environment On slide 6, I would like to present the operational performance and I will start with Upstream. The hydrocarbon production decreased by 6.6 percent year-o
Slide 16: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 16 of 29
Slide 17: CAPEX and E&A – Cautious approach maintained in a volatile market
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 7 – CAPEX and E&A – Cautious approach maintained in a volatile market Moving now to slide 7, total organic CAPEX amounted to 1.2 billion RON in the first half of 2021, 23 percent lower year-on-year. The majority was directed to Upstream,
Slide 18: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 18 of 29
Slide 19: Income Statement: results supported by improved commodity prices
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 9 – Income Statement: results supported by improved commodity prices Thank you, Christina, and good afternoon also from my side. I will continue the presentation with slide 9, starting with some highlights from the Income Statement, with
Slide 20: OMV Petrom Q2/21 Results Conference Call, July 28, 2021 The reported Net income attributable
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 The reported Net income attributable to stockholders was 406 million RON, 90 percent up year-on-year. Page 20 of 29
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OMV Petrom Q2/21 Results Conference Call, July 28, 2021 This page was left blank intentionally. Page 21 of 29
Slide 22: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 22 of 29
Slide 23: Clean CCS Operating Results: improved commodity prices and refining margins
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 10 – Clean CCS Operating Results: improved commodity prices and refining margins Let me go on to slide 10, which shows the major building blocks for the development of the Clean CCS Operating Result in the second quarter of 2021. I will s
Slide 24: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 24 of 29
Slide 25: Cash Flow: higher commodity prices impact net working capital
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 11 – Cash Flow: higher commodity prices impact net working capital On slide 11, I would like to continue with the highlights of our cash flow statement. In the second quarter of 2021, we achieved an operating cash flow of 1.5 billion RON,
Slide 26: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 26 of 29
Slide 27: Outlook: 2021 oil price estimate revised upwards
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Slide 12 – Outlook: 2021 oil price estimate revised upwards Let me conclude our presentation with the Outlook, on slide 12. We increased our forecast regarding Brent oil price in 2021 to a range between 65 and 70 dollars per barrel, reflecting
Slide 28: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 28 of 29
Slide 29: OMV Petrom Q2/21 Results Conference Call, July 28, 2021
OMV Petrom Q2/21 Results Conference Call, July 28, 2021 Page 29 of 29