Slide 1: Webcast – Conference Call: First Quarter 2020 Results
WEBCAST – CONFERENCE CALL First Quarter 2020 Results
Slide 2: Disclaimer
Disclaimer ALL RIGHTS ARE RESERVED © REPSOL, S.A. 2020 Given the COVID-19 spread, the disease caused by SARS-CoV-2 virus (commonly known as coronavirus), global economic growth is expected to be lower than 2019. If the coronavirus pandemic is short- lived, the economy is expected to approach recessi
Slide 3: Index
Index 01. Market Environment 02. Operational Highlights 03. Financial Results 04. Impact of COVID-19 05. Resilience Plan and outlook 2020 06. Repsol and Society 3
Slide 4: COVID-19 challenges the energy industry
COVID-19 challenges the energy industry Market Environment • Combined demand and supply shock caused by COVID-19 and oil price war • Repsol has taken rapid action and defined an ambitious Resilience Plan for 2020 Brent Henry Hub Refining margin indicator Exchange rate ($/bbl) ($/Mbtu) ($/bbl) ($/€)
Slide 5: New business segments aligned with strategic vision
New business segments aligned with strategic vision Operational Highlights Upstream Industrial Commercial and Hydrocarbon Exploration • Refining Renewables and Production • Chemicals • Mobility • Trading • Lubricants • Wholesale & Gas trading • LPG • Repsol Peru • Gas & Power Yield & Focus Yield & T
Slide 6: Upstream production increases Y-o-Y
Upstream production increases Y-o-Y Operational Highlights (Kboed) +52 -3 710 700 -13 -27 Europa & Latin North Asia, Africa America America Russia & Rest of the world 1Q19 1Q20 Higher volumes in Eagle Ford, Marcellus and the first oil in Buckskin in June 2019 partially offset by lower gas demand, ma
Slide 7: Exploration success in core areas
Exploration success in core areas Operational Highlights Alaska •Mitquq and Stirrup positive results Exploration Core •Flow tests exceeding Areas expectations • Gulf of Mexico • Alaska Gulf of Mexico Colombia • Indonesia •US – Monument (WR 272 block) •Mexico – Polok and Chinwol • Lorito (CPO-9 block
Slide 8: Resilient performance of Industrial businesses
Resilient performance of Industrial businesses Operational Highlights Refining • 4.7 $/bbl refining margin indicator Premium in the CCS unit margin despite volatile environment and lower utilization rates • 82% distillation utilization Chemicals • International margins improvement Cracker downtimes
Slide 9: Commercial and Renewables
Commercial and Renewables Operational Highlights Mobility • COVID-19 negatively impacting sales since mid-March • Robust performance: higher margins and international businesses Lubricants contribution • Negative impact from lower regulated bottle margins and a LPG mild winter • Growing retail clien
Slide 10: 1Q20 results
1Q20 results Financial Results Results (€ Million) Q1 2020 Q1 2019 Upstream 90 323 Industrial 288 271 Commercial and Renewables 121 137 Corporate and Others -52 -113 Adjusted Net Income 447 618 Net Income -487 (1) 608 Financial Data (€ Million) Q1 2020 Q1 2019 EBITDA 349 1,810 EBITDA CCS 1,455 1,803
Slide 11: Commitment to safeguard health and safety
Commitment to safeguard health and safety Impact of COVID-19 • Executive Committee monitors the situation and supports COVID-19 Coordination Committee • Continuity of Repsol’s industrial and commercial operations fully guaranteed Commercial and Industrial Upstream renewables Refining Mobility Explor
Slide 12: Tier-1 resilience plan and leadership in low cycle
Tier-1 resilience plan and leadership in low cycle Resilience Plan 2020 Public Domain Companies’ Cuts over 2019 CFFO Resilience Plan 2020(1) 73% Opex and WC • Opex €350 M 54% Capex Cuts • Capex €1,000 M (60% in Upstream) Buybacks Cuts • Working Capital €800 M Dividends Cuts 30% 29% 29% 26% Strengthe
Slide 13: Updated outlook for 2020
Updated outlook for 2020 Outlook 2020 FY2020 Production ~ 650 kboed • Value over volume. 630 Kboed without Libya. Operating metrics Ref. margin indicator ~ 4 $/bbl • Demanding macroeconomic environment Financial Net Debt (Dec’20) €4.2 Bn • Flat year-on-year outlook Dividend 0.55 €/share • Upcoming J
Slide 14: All Repsol's resources at the disposal of society
All Repsol’s resources at the disposal of society Repsol and Society Daily new COVID cases in Spain Repsol’s initiatives 10000 Novel Coronavirus daily new 9000 8000 40,000 liters of hydrogel 7000 Individual sports manufactured in Móstoles, Puertollano, cases (PCR+) 6000 outdoors and Cartagena and Si
Slide 15: Integrated model and portfolio flexibility to withstand crisis
Integrated model and portfolio flexibility to withstand crisis Conclusions Organic Free Cash Flow • Tier-1 Resilience Plan that stands out in the sector (€Bn) • 2020 self-finance commitment to face the crisis: Net Debt flat vs. Dec’2019 • Sustainable multi-energy project: decarbonization strategy re
Slide 16: Webcast – Conference Call: First Quarter 2020 Results
WEBCAST – CONFERENCE CALL First Quarter 2020 Results Repsol Investor Relations investorsrelations@repsol.com