Cosmo Energy Holdings Co., Ltd. · TSE:5021
Cosmo Energy — Cosmo Oil — H1 FY2005 Earnings Presentation
29 slides from Cosmo Energy's earnings presentation, Nov 16, 2005
Slide 1: Presentation on Progress Status of the New Consolidated Medium-Term Management Plan
Cosmo Oil Co., Ltd. Presentation on Progress Status of the New Consolidated Medium-Term Management Plan November 16, 2005 Yaichi Kimura, President Naomasa Kondo,Satoshi Miyamoto, Managing Director http://www.cosmo-oil.co.jp
Slide 2: Today's Presentation – Table of Contents
Today’s Presentation – Table of Contents Review of the Business Environment and the President Outline of the New Consolidated Medium- Pages 1-4 Term Management (NCMTM) Plan Yaichi Kimura Progress Being Made in the Outline of H1 2005 Pages 5-8 Results Managing Director Satoshi NCMTM Plan Outlook for
Slide 3: Review of the Business Environment - International Market Trends
Review of the Business Environment - 1. International Market Trends 1 Outlook Outlook for for Global Global Oil Oil Demand Demand by bythe the International International Energy Energy Agency Agency (IEA) (IEA) 120% (Figures (Figures reflecting reflecting year-on-year year-on-year changes changes ba
Slide 4: Review of the Business Environment - Domestic Market Trends
Review of the Business Environment - 2. Domestic Market Trends 2 55 Historical Historical Changes Changes in in Crude Crude Oil Oil and and ◆ Internationalization of the Japanese oil market Product 9.8yen/L environment Product Prices Prices in in Japan Japan and demand environment supply and ・ More
Slide 5: Outline of the New Consolidated Medium-Term Management Plan
Outline of the New Consolidated Medium-Term Management Plan 3 Establish Establish the the stable stable management management infrastructure infrastructure 1. 1. Enhance Enhance the the earnings earnings base: base: Basic Policy Shift Shift from from rationalization rationalization toward toward add
Slide 6: Outline of Results of the Initial Year of the Medium-Term Plan – Forecast for Earnings
Outline of Results of the Initial Year of the Medium-Term Management Plan – 4 Forecast for Earnings Crude oil prices (H2 FY2005) 原油価格（下期） ：５０$/B : 52$/B Foreign 為替（下期） exchange rate (H2 FY2005):¥110/$ ：１１０円/$ Selling volume of fuel oil in Japan 内需燃料油販売数量 Operating income: ¥62 bn 営業利益：６７０億円 (Full-yea
Slide 7: Results of First Six Months of FY2005 – Outline of Earnings
[H1 FY2005 Results] Results of First Six Months of FY2005 Ended 5 September 30, 2005 – Consolidated – Outline of Earnings (Unit: ¥100 million) Change from Actuals H1 FY2004 Sales 12,032 2,122 Operating Income 507 289 Ordinary Income 572 371 (Inventory valuation impact) 316 196 (Excluding inventory v
Slide 8: Consolidated Ordinary Income – Changes from H1 2004
[H1 FY2005 Results] Consolidated – Ordinary Income – Changes from H1 2004 6 (Unit: ¥100 million) Other subsidiaries: 24 Consolidated disposal and other charges: -21 Gains on investment on the equity method; 18 Balance between other non-operating income and loss; 52 Abu Dhabi Oil Co., Ltd.: 46 316 57
Slide 9: Results of Major Consolidated Subsidiaries and Equity Method Subsidiaries
[H1 FY2005 Results] Consolidated Subsidiaries - Results of Major 7 Consolidated Subsidiaries and Subsidiaries Owned on the Equity Method (Unit: ¥100 million) <Major Consolidated Subsidiaries – Ordinary Income> Change from H1 FY2005 H1 FY2004 Description for key factors affecting results 1. Crude oil
Slide 10: Outline of Consolidated Cash Flows and Balance Sheets
[H1 FY2005 Results] Outline of Consolidated Cash Flows and Balance Sheets 8 (Unit: ¥100 million) Change from H1 FY2005 March 31, 2005 Cash flow from operating activities -205 - Cash flow from investing activities -280 - Cash flow from financing activities 562 - Cash and cash equivalents at end of th
Slide 11: Revisions in Forecast for Consolidated Results of FY2005 – 1
[Forecast for Full-Year Results of FY2005] Revisions in Forecast for Consolidated Results of FY2005 Ending March 31, 2006 - 1 9 (Unit: ¥100 million) Change from Forecast result FY2004 Sales 25,500 3,954 Operating Income 860 203 Ordinary Income 930 298 (Inventory valuation impact) 240 114 (Excluding
Slide 12: Revisions in Forecast for Consolidated Results of FY2005 – 2
[Forecast for Full-Year Results of FY2005] Revisions in Forecast for Consolidated Results of 10 FY2005 – 2 — Consolidated Ordinary Income in Comparison with Full Year Results of FY2004 Other subsidiaries: 10 (Unit: ¥100 million) Impact by market conditions: -170 Consolidated disposal and other charg
Slide 13: Overview of Progress Being Made in the New Consolidated Medium-Term Plan
[Progress Status in the Current Management Plan] Overview of Progress Being Made in the New Consolidated Medium-Term Management Plan (at Cosmo Oil Alone) 11 (Unit: ¥100 million) Supply Sales & Marketing Other Value creation 29 38 １ full- 当初計画 plan Initial full-year plan: 88 通期 Initial year Supply Ot
Slide 14: Progress Being Made by the Supply Segment of Cosmo Oil
[Progress Status in the Current Management Plan] Overview of Progress Being Made by the Supply Segment of Cosmo Oil 12 Forecasted full-year results of FY2005: ¥5.2 billion) (at 114% in achievement) Major items of <Value creation> <Rationalization> actions ・ Profitability improvement ・ Refining cost
Slide 15: Basic Plan for the Sales and Marketing Segment of Cosmo Oil
[Progress Status in the Current Management Plan] 13 Basic Plan for the Sales and Marketing Segment of Cosmo Oil Basic Basic Policy Policy Improve distribution and oil Outlook for full-year improvement of product structures and further FY2005: enhance the mass sales channel ¥5.1 billion Targets to en
Slide 16: Progress Being Made by the Sales and Marketing Segment of Cosmo Oil
[Progress Status in the Current Management Plan] Overview of Progress 14 Being Made by the Sales and Marketing Segment of Cosmo Oil Historical Changes in the Share of 14% Self-Service Self-Service SSs Self-Service SS SS Business Business 11.8% 12% 10.3% H1 FY2005: 10% 8.1% No. of new additions to SS
Slide 17: Progress by the Oil Exploration and Production Segment
[Progress Status in the Current Management Plan] Overview of Progress Being Made 15 by the Oil Exploration and Production Segment – Review of the Business Plan Basic Basic Policy Policy for for Oil Oil Exploration Exploration and and Production Production 1. Investment in lower-risk properties 2. Op
Slide 18: Petrochemical Business: CM Aromatics Co., Ltd.
[Progress Status in the Current Management Plan] Review of What Is 16 Going on in the Petrochemical Business: CM Aromatics Co., Ltd. ●July 2005: • Established on: April 1, 2005 • Capital: ¥100 million To acquire, from Maruzen Petrochemical Co., Ltd., the mixed • Invested by: xylene manufacturing uni
Slide 19: Outline of the Plan for Equity Finance and How to Use the Fund Raised
Outline of the Plan for Equity Finance and How to Use the Fund Raised 17 <Outline of Equity Finance> Capital Increase through Public offering (37,000,000 common shares) Total amount of fund raised Capital Increase through Private Placement (approx.) (3,000,000 common shares) JPY38.8 billion Issuance
Slide 20: Supplementary Information
Supplementary Information ・ [H1 & Full-Year 2005] Actual and Forecast Results of the Oil Business (Non- consolidated) and Assumptions for Forecast ・ [H1 & Full-Year 2005] Overview of Progress Being Made by the Oil Business (non-consolidated) in the Medium-Term Management Plan ・ [H1 Results] Overview
Slide 21: Actual and Forecast Results of the Oil Business and Assumptions
Supplementary Information – 1 [H1 & Full-Year 2005] Actual and Forecast Results of 18 the Oil Business (Non-consolidated) and Assumptions for Forecast Change from Assumptions for H1 FY2005 H1 FY2004 Forecast * The estimated crude Purchased price of Crude oil (FOB) USD/BBL 51.84 16.62 52.00 oil price
Slide 22: Progress Being Made by the Oil Business in the Medium-Term Plan
Supplementary Information – 2 [H1 & Full-Year 2005] Overview of Progress Being 19 Made by the Oil Business (Non-consolidated) in the Medium-Term Management First Half Second Half Full Year Item Departm ent Revised Plan Achievement Achievement Achievement (announced Original Plan Results (vs. Origina
Slide 23: Overview of H1 2005 Results by Subsidiary and Business Segment
Supplementary Information – 3 [H1 Results] Overview of H1 2005 Results by Major 20 Consolidated Subsidiary and Business Segment (Vs. H1 2004 Results) <Operating highlights by major consolidated subsidiary> subsidiary> (Unit: ¥100 million) Net Sales Operating Income Ordinary Income Net Income Change
Slide 24: Outlook for Full-Year FY2005 by Subsidiary and Business Segment
Supplementary Information – 4 [Full-Year Forecast] Outlook for Full-Year Results of FY2005 21 by Major Consolidated Subsidiary and Business Segment (Vs. Full-Year 2004 Results) <Operating highlights by major consolidated subsidiary> subsidiary> (Unit: ¥100 million) Net Sales Operating Income Ordinar
Slide 25: Outlook for Ordinary Income of Full-Year 2005 vs Previous Forecast
Supplementary Information – 5 [Full-Year Forecast] Outlook for Ordinary Income 22 (Consolidated) of Full-Year 2005 (Vs. Revised Forecast Announced on May 17, 2005) Impact by market conditions: -170 Other subsidiaries and consolidated disposal (Unit: ¥100 million) Impact by timing difference: -30 cha
Slide 26: Full-Year 2005 Outlook by Subsidiary and Segment vs Revised Forecast
Supplementary Information – 6 [Full-Year Forecast] Outlook for Results of Full-Year 2005 by Major 23 Consolidated Subsidiary and Business Segment (Vs. Revised Forecast Announced on May 17, 2005) <Operating highlights by major consolidated subsidiary> subsidiary> (Unit: ¥100 million) Net Sales Operat
Slide 27: Historical Changes in EBITDA after Inventory Valuation Adjustments
Supplementary Information – 7 [Full-Year Forecast] 24 Historical Changes in EBITDA after Inventory Valuation Adjustments (Unit: ¥100 million) 1200 1000 Historical Changes in EBITDA (Consolidated) 904 780 800 722 284 636 583 249 600 535 546 375 468 365 400 235 236 400 247 297 240 620 234 531 200 347
Slide 28: Changes in Number of Employees, Oil Storage Depots and SSs
Supplementary Information – 8 25 Changes in the Number of Employees, Oil Storage Depots and SSs Workforce size (No. of persons) Mar 31, ‘98 Mar 31, ‘99 Mar 31, ‘00 Mar 31, ‘01 Mar 31, ‘02 Mar 31, ‘03 Mar 31, ‘04 Mar 31, '05 Sept. 30, '05 Cosmo Oil alone 3,109 2,677 2,048 1,970 1,892 1,837 1,764 1,72
Slide 29: Cautionary Statement Regarding Forward-Looking Scenarios
Cautionary Statement Regarding Forward-Looking Scenarios This presentation contains statements that constitute forward-looking scenarios. While such forward-looking scenarios may include statements based on a variety of assumptions and relating to our plans, objectives or goals for the future, they