Ina-industrija Nafte D.d. · ZSE:INA
Ina-industrija Nafte D.d — INA Group — Debt Investor Presentation (November 2021)
31 slides from Ina-industrija Nafte D.d's debt investor presentation, November 2021
Slide 1: INA Group Investor Presentation - Bond Issuance INA-O-26CA
INA Group INVESTOR PRESENTATION Bond Issuance INA-O-26CA This is an unofficial translation of the Investor Presentation which has been prepared exclusively for informative purposes and should not be considered within investor’s decision-making process. The Issuer assumes no liability for accuracy an
Slide 2: Representatives
Representatives Gábor Horváth Chief Financial Officer Dragan Duspara Director of Treasury Ivan Kolar Investors Relations Chief Expert 2
Slide 3: Agenda
Agenda ABOUT INA GROUP BUSINESS SEGMENT OVERVIEW BOND ISSUANCE OVERVIEW 3
Slide 4: INA Group at a glance
INA Group at a glance Source: Company reports, 31 December 2020 4
Slide 5: INA Group key financial data
INA Group key financial data Further improvement in external environment as the main driver of growth The increase in revenues of 45% comparing to 9M 2020 is a strong Robust EBITDA growth mainly contributed by the E&P segment result close to the pre-crisis, 9M 2019 levels that benefited strongly fro
Slide 6: INA Group key financial data: Upstream remains main EBITDA generator
INA Group key financial data Upstream remains main EBITDA generator, with strong Retail contribution Refining and Marketing incl. Consumer Services and Retail generating the biggest revenue share … 25,000 21,420 21,530 15,856 20,000 14,153 HRK mn 10,809 15,000 10,000 4,187 3,745 1,829 2,137 2,188 1,
Slide 7: INA Group key financial data: Stable financial position
INA Group key financial data Stable finacial position alongside increased investments Investment activities increased in all segments compared to 9M 2020, while strategic investments also continue with Rijeka Refinery Upgrade being the main project 2500 2000 2,150 1500 1,817 1000 1,282 903 500 750 0
Slide 8: Agenda
Agenda ABOUT INA GROUP BUSINESS SEGMENT OVERVIEW BOND ISSUANCE OVERVIEW 8
Slide 9: INA Group business segments overview
INA Group business segments overview Three core business of an integrated oil and gas company EXPLORATION AND REFINING AND CONSUMER SERVICES PRODUCTION MARKETING AND RETAIL Engaged in exploration, Manages Rijeka refinery, Sisak site, lubricants Operates a regional network development and production,
Slide 10: Exploration and Production Overview
EXPLORATION AND PRODUCTION OVERVIEW
Slide 11: Exploration and Production: Maximizing Croatia portfolio cash generation
Exploration and Production Maximizing Croatia portfolio cash generation despite the production decline ▪ Domestic fields are mature in structure and production decline can be slowed down but not reversed ▪ Still, with its low unit production cost it remains healthy cash generating asset Key achievem
Slide 12: Exploration and Production: New exploration concession in Egypt
Exploration and Production New exploration concession to improve the sustainability of INA’s Egyptian operations ▪ Egypt is INA’s main international focus area (currently five concessions + Block 10) ▪ Selectively adding assets in Egypt remains mid- term goal in order to build up portfolio ▪ Key ach
Slide 13: Exploration and Production: Key focus points
Exploration and Production Key focus points • The Drava-02 exploration program already marked two discoveries, while the already performed and upcoming seismic acquisitions on the newly acquired blocks will be a strong base for future exploration activities Continue to utilize the full • Onshore Cro
Slide 14: Exploration and Production: The biggest cash generator
Exploration and Production The biggest cash generator in an environment of recovering oil&gas prices Natural decline remains constant factor, still the increase in average hydrocarbon price boosts the segment result 60.0 70 58 53 60 48 50.0 50 40.0 32 31 40 34.9 33.9 30.0 29.5 30 20.0 29.9 27.4 20 1
Slide 15: Exploration and Production: Main financial indicators
Exploration and Production Main financial indicators Price recovery driving the increase of revenues and EBITDA with revenues increasing by almost HRK 1bn during the 9M period in 2021 compared to the same period last year, while EBITDA reaching figures north of HRK 1.5bn 4,500 4,187 4,000 3,745 3,50
Slide 16: Refining and Marketing, Consumer Services and Retail Overview
REFINING AND MARKETING CONSUMER SERVICES AND RETAIL OVERVIEW 16
Slide 17: Refining and Marketing: Dominant position in Croatia and region
Refining and Marketing Dominant position in Croatia and region; Rijeka Refinery main supplier ▪ No. 1 position* in: ▪ Croatia – market share 71% ▪ B&H – market share 48% ▪ Slovenian market – expected share and volume increase following OMV Slovenia transaction and Rijeka Refinery upgrade 17 Note: *W
Slide 18: Refining and Marketing: Operations in 2020 burdened by external environment
Refining and Marketing Operations in 2020 burdened by external environment and demand drop Key achievements in 2020 & 9M 2021 ▪ Start-up of Propane-Propylene Splitter Unit in the Rijeka Refinery ▪ Stable market supply throughout the whole year liquid depots despite the challenges ▪ Despite the COVID
Slide 19: Refining and Marketing: Key focus points
Refining and Marketing Key focus points Transforming the business segment through its INA Downstream 2023 New Course program towards a financially sustainable future, turning a cash negative segment to cash positive and profitable segment. The main contributors are: • Focus on captive markets (Croat
Slide 20: Consumer Services and Retail: Key focus points
Consumer Services and Retail Key focus points Number of retail locations* Objectives: ▪ Provide an even better and more complete service to our customers ▪ Profitably expand our business in the region ▪ Retain current customers and attract new ones Priorities: ▪ New growth locations (Greenfield, acq
Slide 21: Consumer Services and Retail: Key achievements
Consumer Services and Retail Key achievements Source: Company reports, 31 December 2020 21
Slide 22: Processing levels adjusted to market conditions
Refining and Marketing incl. Consumer Services and Retail Processing levels adjusted to market conditions Refining Processing (kt) 4500 4000 3500 4,189 3000 2500 3,136 2000 2,737 1500 2,284 2,225 1000 500 0 2018 2019 2020 9M 2020 9M 2021 Refining Processing (kt) Refined product sales by country Refi
Slide 23: Consumer Services and Retail: Main volumetric and financial indicators
Consumer Services and Retail Main volumetric and financial indicators Retail sales volumes amounted to 811 kt, 14% above 9M 2020 Coffee cups sold increased over 37% in 9M 2021 (vs. 9M 2020) driven realisation by expanded non-fuel offering, Fresh Corner roll-out and better sales (kt) 29 6.500 29 1,20
Slide 24: Refining and marketing incl. Consumer services and Retail: Main financial indicators
Refining and marketing incl. Consumer services and Retail Main financial indicators Both total retail sales as well as CCS EBITDA increased compared to 9M 2020 (47% and 60% respectively) supported by visible trend of market recovery, expanded offering and improved tourist consumption in Croatia 1400
Slide 25: Response to Climate Change Overview
RESPONSE TO CLIMATE CHANGE OVERVIEW 25
Slide 26: Response to Climate Change
Response to Climate Change ENHANCED OIL SOLAR POWER PLANTS HYDROGEN PROJECT BIOREFINERY PROJECT OTHER RENEWABLE SOURCES RECOVERY PROJECT Further development of solar power Development of project with Planned construction by 2026, Offshore wind and gas cluster CCUS project, since implementation more
Slide 27: Agenda
Agenda ABOUT INA GROUP BUSINESS SEGMENT OVERVIEW BOND ISSUANCE OVERVIEW 27
Slide 28: Indicative terms & conditions
Indicative terms & conditions Issuer INA – INDUSTRIJA NAFTE, d.d. Ranking Non-subordinated and unsecured bond Repayment of Principal Bullet, at maturity Target Market Professional investors and eligible counterparties Maturity 5 years Targeted Nominal Amount of the Issue Up to HRK 2,000,000,000 Deno
Slide 29: Timeline: Indicative timeline of the bond issuance
Timeline Indicative timeline of the bond issuance Planned for / Targeted for Roadshow activities 16 - 25 November 2021 Public announcement of Invitation to subscribe bonds 29 November 2021 Offering day/ Pricing / Allocation 1 December 2021 Publication of the notice of the determined price and the to
Slide 30: Disclaimer
Disclaimer By accessing to, reviewing and/or listening to this presentation you confirm that you are aware of the restrictions set out below and that you accept them. This presentation is not intended for distribution outside the Republic of Croatia, nor for use by any person with registered seat or
Slide 31: Thank you!
Click to edit Master title style THANK YOU!
INA Group — Debt Investor Presentation (November 2021) on 6ix