Dana Gas PJSC · ADX:DANA
Dana Gas PJSC — H1 2020 Earnings Presentation
17 slides from Dana Gas PJSC's earnings presentation, Aug 17, 2020
Slide 1: Clean Energy for the Future: H1 2020 Financial Results
Clean Energy for the Future H1 2020 –Financial Results 17 August 2020
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 2020
Snapshot – H1 2020 Operations Financials Operations continued uninterrupted Net Profit to $18mm before one-off impairments despite Stringent health and safety protocols were put in place steep decline in energy prices across all assets • $37mm impairment charges; $30mm related to Egypt oil and
Slide 6: 3. Production & Country Performance
3. Production & Country Performance
Slide 7: Production (boepd) & Realized Prices (USD/boe)
Production (boepd) & Realized Prices ( USD/boe) Average production H1 2020 vs H1 2019 Average production Q2 2020 vs Q2 2019 67,700 68,200 H1 2019 62,800 Q2 2019 63,250 H1 2020 33,950 32,100 31,000 31,200 34,100 32,400 31,700 30,950 950 0 700 600 1,000* 0 700 600 Group Egypt KRI UAE EBGDCO Group Egyp
Slide 8: Egypt: Programme Overview
Egypt: Programme Overview Operations Operations continued as normal. Health and safety measures brought in; no COVID cases reported. Produced 30,950 boepd in H1 2020 (146 MMscf of gas; 4,240 bbl/d of condensate and 209 MTPD of LPG) Development Leases program South Faraskur Field compression
Slide 9: KRI: Energising the country
KRI: Energising the country Ambitious programme to increase daily production to 900 MMscf and 35,000 bbl by 2023 Operations Operations continued as normal Health and safety measures brought in; no COVID-19 cases reported Produced 31,700 boepd in H1 2020 (135 MMscf of gas; 5,200 bbl/d of conden
Slide 10: Arbitration Update
Arbitration Update UAE Gas Project In October 2017 Tribunal indicated final judgement on the amount of damages would likely be delivered in second half of 2018 To date no award has been made by the Tribunal and Dana Gas has not received any updates as to when this may happen A new Tribunal has
Slide 11: 2. Financial Update
2. Financial Update
Slide 12: Financial Highlights
Financial Highlights Gross Revenue ($mm) EBITDA ($mm) 250 242 2019 2020 2019 2020 400 200 181 300 150 123 205 200 100 77 137 100 77 50 25 0 0 H1 Q2 H1 Q2 Gross Profit ($mm) Net Profit ($mm) 2019 2020 74 2019 2020 150 140 80 105 60 39 52 40 34 50 18 24 20 6 H1 H1* Q2 Q2* -3 0 -19 H1 Q2 -50 * Normaliz
Slide 13: CAPEX & OPEX
CAPEX & OPEX G&A / OPEX ($mm) CAPEX ($mm) G&A OPEX 127 56 52 54 55 52 122 107 89 27 80 27 25 25 27 23 47 38 13 15 16 15 25 7 7 8 8 6 13 2015 2016 2017 2018 2019 H1 H1 H1 H1 H1 2016 2017 2018 2019 H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 2016 2017 2018 2019 2020 G&A / OPEX CAPEX Company continues to
Slide 14: Cash Flow, Liquidity & Receivables
Cash Flow, Liquidity & Receivables $366mm cash balance vs. $425mm FY’19; Free Cash Flow (mm$) excellent cash management • $58 mm of cash held at Pearl Petroleum • Cash Dividend of $104mm paid in May 465 450 413 • Sukuk buyback $18mm, profit payment $8mm 315 Positive FCF - $51mm 245 253 203 76
Slide 15: 4. Summary
4. Summary
Slide 16: Summary
Summary Strong and resilient financial and operational performance in H1 2020 Net profit $18mm (before impairments) Sustainable revenue through gas sales that account for 50% of income and are sold under long-term gas sale contracts with host government Collections of $90mm and 51mm of free
Slide 17: 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