Galp Energia, Sgps S.a. Class B · EURONEXT:GALP
Galp Energia, Sgps S.a. Class B — Galp Energia — Debt Investor Presentation (May 2009)
9 slides from Galp Energia, Sgps S.a. Class B's debt investor presentation, May 28, 2009
Slide 1: Funding Strategy
FUNDING STRATEGY MAY 28 2009 Extending success into new challenges Investor Relations
Slide 2: Maintain a strong capital structure and continue executing transformational projects
MAINTAIN A STRONG CAPITAL STRUCTURE AND CONTINUE EXECUTING TRANSFORMATIONAL PROJECTS DECISIONS TAKEN IMPACT 2009-13 CAPEX ▪ Rescheduling/redefining some projects, mainly in Refining & Marketing and Biodiesel €200 Mln businesses ▪ Cancellation of some acquisitions in the Gas €100 Mln downstream busin
Slide 3: Maintain a strong capital structure and continue executing transformational projects (cont.)
MAINTAIN A STRONG CAPITAL STRUCTURE AND CONTINUE EXECUTING TRANSFORMATIONAL PROJECTS (CONT.) DECISIONS TAKEN IMPACT 2009-13 SHAREHOLDERS ▪ Revise dividend policy to €0.20 per share €500 Mln ▪ Create a legal entity in the natural gas ADDITIONAL _ FLEXIBILITY distribution business that will hold and m
Slide 4: Cash allocation prioritization to stick to a strong capital structure
CASH ALLOCATION PRIORITIZATION TO STICK TO A STRONG CAPITAL STRUCTURE AVOIDED NET CASH OUTFLOW (2009-13) ▪ Capex cut up-front and focused in first 3 years ▪ New financing scheme through project financing, which significantly improves debt exposure ▪ Still paying an annual dividend to signal Capex Ac
Slide 5: Optimization will reduce capex by €0.9 Bln
OPTIMIZATION WILL REDUCE CAPEX BY €0.9 BLN CAPEX (2009-13) G&P € Bln R&M E&P ▪ All transformational 5.2 projects being executed 1.1 4.3 0.4 ▪ E&P projects with no changes 2.2 2.0 ▪ Growth pattern maintained despite capex release of 1.9 1.9 around €0.9 Bln Previous New Business Business Plan Plan (0.
Slide 6: Double digit growth maintained
DOUBLE DIGIT GROWTH MANTAINED EBITDA CAGR (2008-13) ≈ 15% ▪ Impact on EBITDA CAGR ≈ 12% 2008-13 of around 3 p.p. ▪ No relevant impact on Net Profit due to equity method consolidation of power projects Previous New Business Business Plan Plan (3 p.p.) 6 Funding Strategy Investor Relations
Slide 7: Funding in place to support transformational projects
FUNDING IN PLACE TO SUPPORT TRANSFORMATIONAL PROJECTS CAPEX 2009 capex below €1 Bln 1 LIQUIDITY Liquidity position of €1.7 Bln FUNDING NEEDS Decisions taken to avoid net cash outflow of €1.2 Bln CAPITAL STRUCTURE Maintain a capital structure in line with investment grade rating ADDITIONAL Natural ga
Slide 8: Disclaimer
DISCLAIMER Matters discussed in this presentation may constitute forward-looking statements. Forward-looking statements are statements other than in respect of historical facts. The words “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” "continue," “should” and similar expres
Slide 9: Financing Strategy
FINANCING STRATEGY MAY 28 2009 Tiago Villas-Boas Investor Relations Officer tiagovb@galpenergia.com T: +351 21 724 08 66 Extending success into new challenges www.galpenergia.com F: +351 21 724 29 65