China Petroleum & Chemical Corporation Class A · SSE:600028
China Petroleum & Chemical Corporation Class A — Q1 2022 Earnings Presentation
16 slides from China Petroleum & Chemical Corporation Class A's earnings presentation, Apr 28, 2022
Slide 1: 1Q 2022 Results Announcement
China Petroleum & Chemical Corporation 1Q 2022 Results Announcement April 28 2022 中国石油化工股份有限公司 S I N O P E C C O R P.
Slide 2: Cautionary Statement
Cautionary Statement Financial data of the first quarter contained in the presentation and presentation materials are unaudited. This presentation and the presentation materials distributed herein include forward-looking statements. All statements, other than statements of historical facts, that add
Slide 3: Market Environment in 1Q 2022
Market Environment in 1Q 2022 China’s major economic indicators kept within the appropriate range GDP grew by 4.8% YoY International oil prices increased sharply Domestic demand for natural gas, refined oil products and chemical products maintained growth Movement of International Crude Oil
Slide 4: Strong Profitability
Strong Profitability RMB million 1Q 2020 1Q 2021 1Q 2022 YoY Change % Turnover and Other Revenues 554,482 576,559 771,386 33.8 EBIT (25,932) 33,390 36,643 9.7 Profit Attributable to (19,229) 18,774 23,338 24.3 Shareholders of the Company EPS(RMB) (0.159) 0.155 0.193 24.5 Y o Y Change in EBIT RMB mil
Slide 5: Stable Financial Position
Stable Financial Position RMB million As of Dec. 31, 2021 As of Mar. 31, 2022 Total Assets 1,889,255 2,014,107 Short-term Interest-bearing Debt 38,125 87,544 Long-term Interest-bearing Debt 91,990 106,802 Total Equity Attributable to 774,182 793,396 owners of the Company Liability to Asset Ratio (%)
Slide 6: Cash Flow
Cash Flow RMB million 1Q 2020 1Q 2021 1Q 2022 YoY Change % Net Cash Generated from/ (Used in) (67,970) (15,188) (46,781) - Operating Activities Net Cash Generated from/ (Used in) (14,548) (24,214) (38,080) - Investing Activities Net Cash Generated from/ (Used in) 97,658 50,886 58,780 15.5 Financing
Slide 7: Upstream – Positive Progress in Maintaining Oil Production, Increasing Gas Output
Upstream – Positive Progress in Maintaining Oil Production, Increasing Gas Output and Improving Profitability Promoted high-quality exploration Enhanced profit-oriented development , and accelerated capacity building of key oil & gas projects Reinforced optimization of natural gas value chain,
Slide 8: Upstream – Significant Improvement in Profitability
Upstream – Significant Improvement in Profitability Realised Price of Crude Oil Lifting cost USD/bbl USD/bbl 17.95 89.02 15.66 15.94 49.15 54.89 1Q 2020 1Q 2021 1Q 2022 1Q 2020 1Q 2021 1Q 2022 Realised Price of Natural Gas Upstream EBIT 勘探及开发板块息税前利润 USD/thousand cubic feet 单位：人民币百万元 RMB Million 8.14
Slide 9: Refining – Operating Close to the Market
Refining – Operating Close to the Market Optimized allocation of crude oil resources and enhanced inventory management to reduce cost Steadily shifted from refined oil products to chemical feedstock and refining specialties, and kept a high utilization rate Sped up the construction of advanced
Slide 10: Refining – Earnings Achieved Record High in the Same Period
Refining – Earnings Achieved Record High in the Same Period Refining Margin EBIT of Refining USD/bbl RMB million 11.72 13.10 22,919 19,894 (3.67) 1Q 2020 1Q 2021 1Q 2022 Cash Operating Cost USD/bbl 4.32 3.83 3.51 (26,474) 1Q 2020 1Q 2021 1Q 2022 1Q 2020 1Q 2021 1Q 2022 中国石油化工股份有限公司 10 S IN O PE C C
Slide 11: Marketing – Leveraged Integration and Network Advantage
Marketing – Leveraged Integration and Network Advantage Enhanced synergy of production & marketing, and made efforts to expand market and sales and improve profitability Promoted the construction of comprehensive service station, integrated with refined oil products, natural gas, hydrogen, EV ch
Slide 12: Marketing – Sustained Increase in Profitability
Marketing – Sustained Increase in Profitability Profit of Non-fuel Business EBIT of Marketing RMB million 1,349 RMB million 1,163 8,993 8,550 623 1Q 2020 1Q 2021 1Q 2022 Marketing Cash Operating Cost RMB/tonne 202.68 191.16 179.43 (1,235) 1Q 2020 1Q 2021 1Q 2022 1Q 2020 1Q 2021 1Q 2022 中国石油化工股份有限公司
Slide 13: Chemicals – Strengthened Structural Optimisation
Chemicals – Strengthened Structural Optimisation Fine-tuned chemical feedstock mix and reduced feedstock cost Optimised utilisaiton rate and product structure, and increased the portion of high value-added products Accelerated construction of advanced production capacity ’000 tonnes 1Q 2020 1Q
Slide 14: Chemicals – Profitability Remains Resilient
Chemicals – Profitability Remains Resilient Chemical Products Price Index EBIT of Chemicals (CPPI) 250 RMB million 9,234 200 150 100 1,890 50 0 (1,764) Jan-20 Jan-21 Jan-22 1Q 2020 1Q 2021 1Q 2022 Index Spread CPPI Naphtha Price Index 中国石油化工股份有限公司 14 S IN O PE C C O R P.
Slide 15: Capital Expenditure
Capital Expenditure Capital expenditure in the first quarter was RMB 25.4 billion Upstream: RMB 15.3 Bn RMB Billion Mainly for capacity building of oil and gas, and LNG projects 25.4 Refining: RMB 6.0 Bn 23.0 Mainly for construction of Anqing and Yangzi refinery structural adjustment proje
Slide 16: Contact Information
Contact Information Investor relations Beijing: Tel: (8610) 59960028 Fax: (8610) 59960386 Email: ir@sinopec.com Houston: Tel: (832) 834 2431 Fax: (713) 544 8878 Email: alpinewu@sinopec.com www.sinopec.com
China Petroleum & Chemical — Q1 2022 Earnings Presentation on 6ix