Dana Gas PJSC · ADX:DANA
Dana Gas PJSC — H1 2023 Earnings Presentation
16 slides from Dana Gas PJSC's earnings presentation, Aug 9, 2023
Slide 1: Clean Energy for the Future: H1 2023 Financial Results
Clean Energy for the Future H1 2023 –Financial Results 9 August 2023
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo
Slide 3: Contents
Contents 1 Headlines 2 Production & Country Performance 3 Financial Update 4 Summary
Slide 4: 1. Headlines
1. Headlines —
Slide 5: Snapshot – H1 2023
Snapshot – H1 2023 Operations Financials ▪ Group existing operations continued uninterrupted ▪ H1 2023 Net Profit of $83mm – 25% decline due to • Pearl’s operations and production have lower realized prices and additional discount on continued without interruption since all its local condensate sale
Slide 6: 3. Production & Country Performance
3. Production & Country Performance
Slide 7: Production (boepd) & Realized Prices (USD/boe)
Production (boepd) & Realized Prices ( USD/boe) Average production H1 2022 vs H1 2023 (kboe/d) Average production Q2 2022 vs Q2 2023 (kboe/d) 61.08 59.83 59.80 56.76 6.90 6.18 8.09 7.75 7.81 34.49 36.42 7.25 33.60 34.14 4.48 26.59 4.09 26.20 23.40 22.61 5.19 2.42 5.34 5.04 4.98 46.10 2.10 45.90 2.77
Slide 8: KRI: Energising the country
KRI: Energising the country Operations ▪ Production operations continued as normal in the first half and the company continues to play an important role in enabling regional power generation despite challenging conditions ▪ Produced 36,400 boepd in H1 2023 (162 MMscf of gas; 5,335 bbl/d of condensat
Slide 9: Egypt: Operations Overview
Egypt: Operations Overview Operations ▪ Produced 23,400 boepd in H1 2023 (113 MMscf of gas; 2,411 bbl/d of condensate and 182 MTPD of LPG); 12% drop compared to H1 2022 as a result of limited investment and natural field declines ▪ The decline is lower than the 20-30% production decrease that is exp
Slide 10: 2. Financial Update
2. Financial Update
Slide 11: Financial Highlights
Financial Highlights 6M Revenue Breakdown ($mm) Quarterly Revenue Breakdown ($mm) 143 282 28.4 55.6 220 99 41.2 68 75 17.8 137 145 64.2 124.1 113 17.3 49 50 107 78.5 11.1 35.4 22.6 33.0 8.3 21.2 38.2 26.1 9.6 50.0 20.0 20.7 14.6 74.1 47.1 31.5 50.6 45.4 102.4 99.6 19.1 31.5 18.6 26.8 40.4 62.0 44.4
Slide 12: CAPEX & OPEX
CAPEX & OPEX G&A / OPEX ($mm) CAPEX ($mm) G&A OPEX G&A/boe ($/boe) Opex/boe ($/boe) 4.00 60 60 57 55 2.65 2.59 2.68 3.00 2.38 2.35 2.35 2.03 40 31 2.00 27 26 139 22 126 20 1.00 0.52 0.49 0.55 0.52 0.54 0.55 72 0.43 56 58 50 12 11 12 6 5 6 6 0 - 25 2020 2021 2022 H1 2020 H1 2021 H1 2022 H1 2023 2020
Slide 13: Cash Flow, Liquidity & Receivables
Cash Flow, Liquidity & Receivables ▪ $101mm cash balance vs. $151mm FY2022; Debt and Cash Balance ($mm) reflecting robust cash management • $82mm of cash held at Pearl Petroleum 1000 897 930 920 815 861 803 • Cash Dividend of $86mm (4.5 fils per share) paid to 800 748 723 the Company’s shareholders
Slide 14: 4. Summary
4. Summary
Slide 15: Summary
Summary ▪ Operational and financial results robust despite difficult macro environment • $83mm net profit highlights success in increasing production in KRI; supported by a 15% reduction in operating costs as bottom-line declines in line with energy prices • Recent increase in oil prices should have
Slide 16: Reach Us: Dana Gas PJSC
Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : mohammed.mubaideen@danagas.com Direct : +971 6 519 4401