15 slides from Lyondellbasell Industries Nv's earnings presentation, Jul 27, 2012
Slide 1: Second-Quarter 2012 Earnings
Exhibit 99.2 Second-Quarter 2012 Earnings Jim Gallogly, Chief Executive Officer Karyn Ovelmen, Chief Financial Officer Sergey Vasnetsov, SVP - Strategic Planning and Transactions Doug Pike, VP - Investor Relations July 27, 2012
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 ($ in millions, except per share data) (1) 2Q'12 1Q'12 2Q'11 EBITDA $1,774 $1,228 $1,593 Income from Continuing Operations $768 $594 $851 Diluted Earnings ($ / share) from Continuing Operations $1.33 $1.03 $1.46 Net Debt / LTM EBITDA 0.4x 0.4x NA Quarterly EBITDA increase of 44% from 1Q’1
Slide 5: LyondellBasell Safety Performance
LyondellBasell Safety Performance Injuries per 200,000 Hours Worked(1) 0.5 0.4 0.3 0.2 0.1 0.0 2009 2010 2011 2012 YTD • Continued good safety results • Significant first half 2012 contractor activity related to maintenance turnarounds 1) Includes employees and contractors. YTD as of June 2012. lyon
Slide 6: Second-Quarter 2012 and Last-Twelve-Months Segment EBITDA
Second-Quarter 2012 and Last-Twelve-Months (LTM) Segment EBITDA (1) (1) Q2’12 EBITDA LTM June EBITDA $1,774 million $5,574 million Q2’12 Operating Income LTM Operating Income $1,449 million $4,321 million ($ in millions) ($ in millions) $900 Second-Quarter 2012 EBITDA $3,000 June 2012 LTM EBITDA 750
Slide 7: Cash Flow
Cash Flow ($ in millions) Second-Quarter 2012 LTM June 2012 $3,000 $10,000 2,250 7,500 $1,964 $1,679 $4,937 1,500 5,000 750 2,500 $1,964 0 0 (1) (3) (1) (1) (2) (3) (1) Q3'11 CF from Working (2) Capex Dividends Net Debt Other Q2'12 Q2'12 CF from Working Capex Dividends Net Debt Other Q2'12 Begin. Op
Slide 8: Working Capital and Key Financials Statistics
Working Capital and Key Financials Statistics Working Capital(1) Key Statistics ($ in billions) $8 Snapshot at June 30, 2012 Liquidity: $4.4 billion $6 Debt: $4.4 billion Cash: $2.0 billion Net Debt/LTM EBITDA: 0.4x $4 $2 $0 2Q'11 3Q'11 4Q'11 1Q'12 2Q'12 ($2) ($4) ($6) Total WC Inventory AR AP 1) Fi
Slide 9: Olefins & Polyolefins - Americas Highlights and Business Drivers - 2Q'12
Olefins & Polyolefins - Americas Highlights and Business Drivers - 2Q’12 EBITDA(1) Performance vs. 1Q’12 ($ in millions) $1,000 U.S. Olefins EBITDA Margin Volume • Ethylene price down 6¢/lb 800 • Cost of Ethylene down 13¢/lb • ~85% of ethylene from NGLs 600 • Hurricane Ike insurance settlement • Cha
Slide 10: Olefins Benchmark Margins
Olefins Benchmark Margins Indexed Commodity Prices Cost of Ethylene Production (cents/lb) 120 70 60 100 50 40 80 30 20 60 10 40 0 Jan-12 Feb-12 Mar-12 Apr-12 May-12 Jun-12 Jul-12 NE Asia Naphtha U.S. Naphtha U.S. Propane U.S. Ethane Brent Ethane Propane Butane 2Q11 1Q12 2Q12 U.S. Gulf Coast Ethylene
Slide 11: Ethane and Propane Production and Inventories at Historic Highs
Ethane and Propane Production and Inventories at Historic Highs U.S. Ethane Production U.S. Propane Production 800 1,200 700 1,000 600 800 500 600 400 400 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec U.S. Ethane Inventory U.S. Propane Inventory 40 8
Slide 12: Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 2Q'12
Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 2Q’12 EBITDA Performance vs. 1Q’12 ($ in millions) EBITDA Margin Volume $400 EU Olefins • Margin expansion for light Olefins and butadiene 300 Polyethylene • Volumes down 14% 200 Polypropylene (includes Catalloy) •
Slide 13: Intermediates & Derivatives Highlights and Business Drivers - 2Q'12
Intermediates & Derivatives Highlights and Business Drivers - 2Q’12 EBITDA Performance vs. 1Q’12 ($ in millions) EBITDA Margin Volume $500 Propylene Oxide and Derivatives • Steady underlying businesses results 400 • First China JV dividend 300 Intermediates • Improved PO co-products margins 200 Oxyf
Slide 14: Refining Highlights and Business Drivers - 2Q'12
Refining Highlights and Business Drivers - 2Q’12 EBITDA Performance vs. 1Q’12 ($ in millions) EBITDA Margin Volume $450 Houston Refinery • Q2 crude throughput: 267 MBPD • Maya 2-1-1: $23.16/ bbl 300 • Hurricane Ike insurance settlement Berre refinery discontinued operations 150 2Q'11 3Q'11 4Q'11 1Q'
Slide 15: Second-Quarter Summary and Outlook
Second-Quarter Summary and Outlook Second-Quarter Summary Near-Term Outlook – Strong Olefins results – O&P Americas chain margin remains advantaged • Feedstock cost decline outpaced price declines • Continued U.S. NGL advantage – European olefins/polyolefins weaken, – Channelview turnaround complete