Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q4 2013 Earnings Presentation
16 slides from Lyondellbasell Industries Nv's earnings presentation, Jan 31, 2014
Slide 1: Fourth-Quarter 2013 Earnings
S E I Z E T H E M O M E N T S ECURING THE FUTURE January 31, 2014 Fourth-Quarter 2013 Earnings Jim Gallogly, Chief Executive Officer Karyn Ovelmen, Chief Financial Officer Sergey Vasnetsov, SVP - Strategic Planning and Transactions Doug Pike, VP - Investor Relations lyondellbasell.com
Slide 2: Cautionary Statement
Cautionary Statement The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant ris
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) FY 2013 FY 2012 FY 2011 EBITDA(1) $6,311 $5,808 $5,469 Income from Continuing Operations $3,860 $2,858 $2,472 Diluted Earnings ($ / share) from Continuing Operations $6.76 $4.96 $4.32 FY 2013 EPS Growth ~ 36% vs. 2012 and 56% vs. 2011 ($ in millions)
Slide 5: Health, Safety and Environmental Performance
Health, Safety and Environmental Performance Safety - Injuries per 200,000 Hours Indexed Environmental Incidents Indexed Process Incidents Worked(1) 0.60 100% 100% 0.45 75% 75% 0.30 50% 50% 0.15 25% 25% 0.00 0% 0% 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 2009 2010 2011 2012 2013 1) Includes
Slide 6: 2013 Accomplishments
2013 Accomplishments Overall Finance Operations • Record earnings • Generated $4.8 billion cash • Increased NGL cracking to • Construction underway on from operations account for ~ 90% of North two of our ethylene • 45% total stock return vs. • Repurchased 27.4 million American ethylene expansion pr
Slide 7: Key Volumes and Margins: 2011 - 2013
Key Volumes and Margins: 2011 - 2013 Ethylene Volumes Polyethylene Volumes Polypropylene Volumes I&D Chemical HRO Crude Oil Rates billion lbs billion lbs 10 billion lbs billion lbs 15 Volumes(1) MBPD 300 15 10 9.1 9.0 9.0 8.9 8.9 8.4 263 255 253(*) 8 8 12 240 12 10.6 10.5 10.6 10.4 10.5 10.5 232 6 6
Slide 8: Fourth Quarter 2013 and FY 2013 Segment EBITDA
Fourth Quarter 2013 and FY 2013 Segment EBITDA Q4’13 EBITDA FY 2013 EBITDA $1,543 million $6,311 million Q4’13 Operating Income FY 2013 Operating Income $1,264 million $5,102 million ($ in millions) ($ in millions) $1000 $3,750 Fourth Quarter 2013 EBITDA FY 2013 EBITDA 800 3,000 600 2,250 400 1,500
Slide 9: Cash Flow
Cash Flow ($ in millions) FY 2013 May 2010 – December 2013 $10,000 $20,000 8,000 16,000 6,000 12,000 $8,384 $3,076 4,000 8,000 $4,450 2,000 $2,732 4,000 $4,450 $2,711 0 Jan 2013 (1) CF from Working (2) Capex (3) Div idends & Net De bt Other Dec 2013 (1) 0 (1) (2) (3) (1) Beginning Operations Capita
Slide 10: Key Financial Statistics
Key Financial Statistics Indexed Cash Fixed Cost(1) Capital Expenditures (Indexed to 2008) ($ in millions) 100% $1,600 75% 1,200 50% 800 25% 400 0 2008 2009 2010 2011 2012 2013 2011 2012 2013 Base Growth Free Cash Flow(2) 2011 – 2013 Cash Deployment ($ in millions) ($ in millions) $6,000 $15,000 4,5
Slide 11: Olefins & Polyolefins - Americas Highlights and Business Drivers - 4Q'13
Olefins & Polyolefins - Americas Highlights and Business Drivers - 4Q’13 (2) EBITDA Performance vs. 3Q’13 ($ in millions) EBITDA Margin Volume $1000 U.S. Olefins • Margins and volumes relatively 800 unchanged • Inventory build ahead of La Porte turnaround 600 • Metathesis unit running 400 Polyethyle
Slide 12: Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 4Q'13
Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 4Q’13 (2) EBITDA Performance vs. 3Q’13 ($ in millions) EBITDA Margin Volume $400 EU Olefins • Margin compression – higher naphtha and LPG prices 300 • Operating rate ~ 85% Polyethylene 200 • Spread down ~ 1¢/lb • V
Slide 13: Intermediates & Derivatives Highlights and Business Drivers - 4Q'13
Intermediates & Derivatives Highlights and Business Drivers - 4Q’13 EBITDA Performance vs. 3Q’13(2) ($ in millions) EBITDA Margin Volume $500 Propylene Oxide and Derivatives 400 • Higher deicer sales 300 Intermediates • Lower styrene margins 200 • Methanol restart Oxyfuels 100 • Seasonal volume and
Slide 14: Refining Highlights and Business Drivers - 4Q'13
Refining Highlights and Business Drivers - 4Q’13 (2) EBITDA Performance vs. 3Q’13 ($ in millions) EBITDA Margin Volume $200 Houston Refinery • Crude throughput: 239 MBPD 160 • Maya 2-1-1: $24.32 bbl • RINs cost down $24 million 120 80 40 4Q'12 1Q'13 2Q'13 3Q'13 4Q'13 Refining Spreads (per Platts)(1)
Slide 15: Projects Annual Potential Values & Completion Timeline
Projects Annual Potential Values & Completion Timeline Annual Potential Value(1) ($ Million/ yr) $1,200 Q4 1,000 800 Q1 Q2 600 Completed 400 Q4 Q1 200 Q2 BD Methanol PE La Porte Channelview Corpus Expansion Restart Debottleneck Expansion Expansion Christi Expansion 2013 2014 2015 1) Annual potential
Slide 16: Fourth-Quarter Summary and Outlook
Fourth-Quarter Summary and Outlook Fourth-Quarter Summary Near-Term Outlook – Continued strength in O&P – – U.S. NGL advantage continues Americas results – La Porte turnaround and expansion • Building inventory in preparation for scheduled to begin in late Q1’2014, La Porte turnaround estimate ~ 80
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