China Petroleum & Chemical Corporation Class A · SSE:600028
China Petroleum & Chemical Corporation Class A — Q1 2024 Earnings Presentation
16 slides from China Petroleum & Chemical Corporation Class A's earnings presentation, Apr 29, 2024
Slide 1: 1Q 2024 Results Announcement
China Petroleum & Chemical Corporation 1Q 2024 Results Announcement April 29, 2024 中国石油化工股份有限公司 S I N O P E C CORP.
Slide 2: Cautionary Statement
Cautionary Statement Financial data of the first quarter contained in the presentation and presentation materials are unaudited. This presentation and the presentation materials distributed herein include forward-looking statements. All statements, other than statements of historical facts, that add
Slide 3: Market Environment in 1Q 2024
Market Environment in 1Q 2024 China’s economy continued to pick up, with GDP up by 5.3% International crude oil prices fluctuated with an upward trend Domestic demand for refinery and chemical products kept growing year on year Demand for natural gas grew rapidly Demand for refined oil pro
Slide 4: Achieved Good Results
Achieved Good Results EBIT RMB million 1Q 2023 1Q 2024 YOY(%) Unit: RMB million 32,424 30,261 Revenues 791,331 789,967 (0.2) EBIT 32,424 30,261 (6.7) Profit Attributable to Shareholders of 20,740 18,721 (9.7) the Company EPS (RMB) 0.173 0.156 (9.8) 1Q 2023 1Q 2024 中国石油化工股份有限公司 4 SINOPEC CORP.
Slide 5: Solid Financial Position
Solid Financial Position RMB million As of Dec. 31, 2023 As of Mar. 31, 2024 Total Assets 2,024,696 2,091,935 Short-term Interest-bearing Debts 70,971 126,637 Long-term Interest-bearing Debts 187,860 171,234 Total Equity Attributable to Shareholders 802,989 831,188 of the Company Liability-to-Asset
Slide 6: Cash Flow
Cash Flow RMB million 1Q 2023 1Q 2024 YoY(%) Net Cash Used in Operating Activities (18,397) (13,755) - Net Cash Used in Investing Activities (54,289) (43,082) - Net Cash Generated from Financing Activities 82,285 45,931 (44.2) RMB million As of Dec. 31, 2023 As of Mar. 31, 2024 Change(%) Cash and Ca
Slide 7: Upstream – New Achievements in Increasing Reserves, Boosting Production and Increasing Profitability
Upstream – New Achievements in Increasing Reserves, Boosting Production and Increasing Profitability Enhanced high quality exploration, and achieved a number of oil and gas discoveries Domestic crude oil production grew by 2.0% Natural gas production increased by 6.0% 1Q 2023 1Q 2024 YoY(%) Oi
Slide 8: Upstream – Profitability Further Improved
Upstream – Profitability Further Improved Realized Price of Crude Oil Lifting Cost USD/bbl USD/boe 75.2 75.4 15.5 15.2 17.0 16.2 15.1 1Q 2023 1Q 2024 1Q 2023 2021年 2022年 1Q 2024 2023年 Realized Price of Natural Gas E&P EBIT 勘探及开发板块息税前利润 USD/thousand cubic feet 单位：人民币百万元 RMB Million 14,823 8.7 13,357
Slide 9: Refining – Optimisation based on Market Needs
Refining – Optimisation based on Market Needs Increased production of marketable products according to market need Scaled up export volume and optimised export arrangement Optimised the rhythm of “oil to chemicals” and “oil to specialties” projects mm tonnes 1Q 2023 1Q 2024 YoY(%) Refinery Thr
Slide 10: Refining – Focused on Cost Reduction
Refining – Focused on Cost Reduction Refining Margin EBIT of Refining USD/bbl RMB million 8.66 7.15 10,459 1Q 2023 1Q 2024 6,887 Cash Operating Cost USD/bbl 4.03 3.83 1Q 2023 1Q 2024 1Q 2023 1Q 2024 中国石油化工股份有限公司 10 SINOPEC CORP.
Slide 11: Marketing – Gave Full Play to Network Advantages
Marketing – Gave Full Play to Network Advantages Adhered to customer-centered and domestic refined oil products sales volume further increased The quality and profitability for the non-fuel business further improved Transformed into a comprehensive energy service provider of Petro-Gas-Hydrogen
Slide 12: Marketing – Profitability Steadily Increased
Marketing – Profitability Steadily Increased Profit of Non-fuel Business EBIT of Marketing RMB million 1,486 RMB million 1,404 8,678 8,475 1Q 2023 1Q 2024 Marketing Cash Operating Cost RMB/tonne 187.80 181.48 1Q 2023 1Q 2024 1Q 2023 1Q 2024 中国石油化工股份有限公司 12 SINOPEC CORP.
Slide 13: Chemicals – Strengthened Structural Adjustment
Chemicals – Strengthened Structural Adjustment Strengthened cost control Optimised feedstock, facilities and product slate Increased proportion of high value-added products thousand tonnes 1Q 2023 1Q 2024 YoY(%) Ethylene Production 3,347 3,279 (2.0) Synthetic Resin Production 4,816 4,837 0.4 S
Slide 14: Chemicals – Focused on Cost Reduction
Chemicals – Focused on Cost Reduction Unit All-in Cost EBIT of Chemicals RMB/tonne RMB million 1,528 1,370 1Q 2023 1Q 2024 Chemical Product Price Index (1,609) (CPPI) 200 150 100 50 (3,022) 0 Jan-22 Jun-22 Nov-22 Apr-23 Sep-23 Feb-24 Index difference CPPI Naphtha Index 1Q 2023 1Q 2024 中国石油化工股份有限公司 1
Slide 15: Capital Expenditure
Capital Expenditure Capital expenditure in the first quarter was RMB 20.5 Bn E&P: RMB 13.5 Bn Unit: RMB Billion Mainly for crude oil & gas production capacity building and construction of storage and 23.4 transportation facilities 20.5 Refining: RMB 4.1 Bn Mainly for construction of refining b
Slide 16: Contact Information
Contact Information Investor relations Beijing: Tel: (8610) 59960028 Fax: (8610) 59960386 Email: ir@sinopec.com Hong Kong: Fax: (852) 28243669 Email: ir.hk@sinopec.com www.sinopec.com 中国石油化工股份有限公司 16 SINOPEC CORP.
China Petroleum & Chemical — Q1 2024 Earnings Presentation on 6ix