Slide 1: OMV Petrom Q2/18 Results
Chapter divider slide: Design must be alike to chosen cover style (28pt) OMV Petrom Q2/18 Results August 2, 2018 Christina Verchere, CEO
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation does not, and is not intended to, constitute or form part of, This presentation may contain forward-looking statements. These statements and should not be construed as, constituting or forming part of, any actual reflect the Company’s current knowledge and its expe
Slide 3: Key messages Q2/18
Key messages Q2/18 performance Clean CCS Financial Operating Operating result Clean CCS Cash Flow ROACE RON 735 mn RON 1.4 mn 9.5% Production 160 kboe/d, -5% yoy OPEX USD 11.7/boe, +12% yoy Operational drivers Petrobrazi turnaround successfully completed Retail sales volumes +1% yoy; non-retail sale
Slide 4: Economic environment
Economic environment Oil price (USD/bbl) Gas prices1 (EUR/MWh) 74 67 21.3 61 20.5 50 52 73 19.5 65 48 51 61 18.2 16.9 16.8 16.7 3.90 18.1 4.14 3.90 3.92 15.8 16.2 3.79 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Avg Urals price in USD/bbl (left scale) Avg USD/RON (right scale) Avg Br
Slide 5: CAPEX and E&A
CAPEX and E&A Group CAPEX incl. capitalized E&A CAPEX incl. capitalized E&A (RON bn) 6m/18 at RON 2.1 bn: 45 new wells and sidetracks drilled 3.7 ~470 workovers performed Refinery turnaround Brazi power plant partial shut-down 2.1 2018E maintained at RON 3.7 bn: Drilling >100 developme
Slide 6: OMV Petrom Q2/18 Results (CFO)
Chapter divider slide: Design must be alike to chosen cover style (28pt) OMV Petrom Q2/18 Results August 2, 2018 Stefan Waldner, CFO
Slide 7: Cash Flow highlights
Cash Flow highlights Operating Cash Flow (RON bn) +7% Q2/18 OCF1 down due to lower Operating Result -19% 2.98 3.18 1.71 1.39 Q2/18 NWC2: cash outflow RON 76 mn Q2/17 NWC2: cash inflow RON 275 mn Q2/17 Q2/18 6m/17 6m/18 Free Cash Flow (RON bn) -36% 1.88 Q2/18 CAPEX more than double yoy -61% 1
Slide 8: Income Statement highlights
Income Statement highlights Clean CCS Operating Result Clean CCS Operating Result reflects: (RON bn) +2% ► Favorable commodities prices 1.69 -18% 1.66 ► Petrobrazi turnaround 0.89 0.74 ► RON 73 mn insurance revenues booked in Q2/17 ► Consolidation reflects mainly crude oil stocks Q2/17 Q2/18 6m/17
Slide 9: Upstream Clean Operating Result
Upstream Clean Operating Result (RON mn) -109 820 -34 19 498 447 Higher realized oil prices Lower total production costs Q2/17 Market Volume Exploration Other Q2/18 effects Negative FX development (RON mn) Sales volumes -6% 1,465 -229 704 -15 98 Higher exploration expenses 907 6m/17 Market
Slide 10: Downstream Clean CCS Operating Result
Downstream Clean CCS Operating Result (RON mn) 431 -4 -58 Higher Brazi power plant availability -148 221 395 Positive realized contribution from forward 195 contracts 36 26 Q2/17 Market Operational Petrobrazi Q2/18 effects effects turnaround effect Lower refining margins Lower refined produc
Slide 11: Outlook 2018
Outlook 2018 Indicators Actual 2017 Assumptions/Targets 2018 Brent oil price USD 54/bbl USD 70/bbl (previous: USD 68/bbl) Refining margin USD 7.75/bbl <USD 7.75/bbl Production 168 kboe/d ~ -4% yoy1 CAPEX RON 3.0 bn RON 3.7 bn FCF after dividends RON 2.7 bn positive 1 Not including portfolio optimiza
Slide 12: Q&A
Q&A OMV Petrom
Slide 13: Backup
Backup OMV Petrom
Slide 14: Operational KPIs
Operational KPIs Upstream Downstream Oil Downstream Gas OPEX OMV Petrom Indicator Gas sales volumes (USD/boe) refining margin (USD/bbl) (TWh) +12% +12% -11% -11% -21% -21% 12.44 11.89 11.67 8.75 13.41 14.20 10.42 8.51 11.79 10.23 10.70 10.51 6.56 6.72 6.16 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q2/17 Q3/17 Q