Equinor Asa · OSL:EQNR
Equinor Asa — Statoil — Q1 2015 Earnings Presentation
11 slides from Equinor Asa's earnings presentation, 2015
Slide 1: 1st Quarter 2015
1st Quarter 2015 Torgrim Reitan, CFO
Slide 2: First quarter 2015
First quarter 2015 • Solid adjusted earnings and cash flow in a low price environment • IFRS results significantly impacted by impairments • Cautious price outlook reflecting market uncertainty • Strong operational performance and positive underlying cost trends • 1Q dividend of 1.80 NOK/share 2
Slide 3: Financial results
Financial results • Adjusted results materially impacted 1Q 2015 NOK bn by lower prices (35.4) (25.6) 48.5 22.9 (15.8) 7.0 − Solid operational performance >(100%) >(100%) (50%) (56%) across the company • IFRS results negatively impacted by quarter-specific items − Impairments as a result of more cau
Slide 4: Adjusted earnings by segment
Adjusted earnings by segment Statoil group 1) D&P Norway D&P International MPR Adjusted earnings Sustained solid Positive underlying cost Strong contributions from impacted by lower prices operational performance development marketing and trading Brent down 50% versus 1Q 2014 Valemon on stream Yeti:
Slide 5: Strong production performance
Strong production performance • Continued high production regularity Equity production mboe/d • Starting and ramping up new fields 2056 1978 1927 • 6% underlying growth1) Gas Liquids 5 1) Production change YoY adjusted for divestments
Slide 6: Cash flow 2015
Cash flow 2015 • Strong cash generation in 2015 YTD; NOK bn a low price environment • One NCS tax instalment paid in 1Q • Adjusted net debt to capital employed of 24% 6 1) Income before tax (-24) + Non cash adjustments (70)
Slide 7: Solid exploration performance continues
Solid exploration performance continues 2015 discoveries Efficient drilling Wells to watch • Norway: Roald Rygg and Bay du Nord Wall Julius Snefrid Nord gas follow-up discoveries strengthen Aasta Hansteen area Power Nap • US GoM: Yeti oil discovery Industry average after 2010- Statoil operated wells
Slide 8: Outlook 2015
Outlook 2015 Capex USD ~18 bn1) Production ~2% annual organic growth 45 mboe per day Maintenance 95 mboe per day in 2Q Exploration USD ~3.2 bn1) 8 1) Assuming NOK/USD of 7.00
Slide 9: Thank you
Thank you 9 Sesion
Slide 10: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements that involve risks and uncertainties. In some These forward-looking statements reflect current views about future events and are, by their nature, subject cases, we use words such as "ambition", "continue", "cou
Slide 11: Investor Relations in Statoil
Investor Relations in Statoil Main Desk: +47 22 97 20 42 E-mail: irpost@statoil.com Investor Relations Europe Peter Hutton Senior Vice President phutt@statoil.com +44 788 191 8792 Lars Valdresbråten IR Officer lava@statoil.com +47 40 28 17 89 Erik Gonder IR Officer ergon@statoil.com +47 99 56 26 11