Cosmo Energy Holdings Co., Ltd. · TSE:5021
Cosmo Energy — Cosmo Oil — Q2 FY2013 Earnings Presentation
26 slides from Cosmo Energy's earnings presentation, Nov 6, 2013
Slide 1: Presentation on Results for Second Quarter of Fiscal 2013
Cosmo Oil Co., Ltd. Presentation on Results for Second Quarter of Fiscal 2013 November 6, 2013 President: Keizo Morikawa http://www.cosmo-oil.co.jp
Slide 2: Outline of Q2 Consolidated Operating Results for FY2013
Q2 Review for FY2013 (from April 1, 2013 to September 30, 2013) 1 Outline of Q2 Consolidated Operating Results for FY2013 Resumption of the full-scale operation of two toppers at Chiba refinery 1 in July to steadily regain earnings power Ordinary income was 18.4billion yen (up 40.1 billion yen year
Slide 3: Consolidated Income Statements - Changes from 2Q FY2012
[2Q FY2013 Results] 2 Consolidated Income Statements - Changes from 2Q FY2012 Unit: billion yen 2Q FY2013 2Q FY2012 Changes (Apr.-Sep.2013) (Apr.-Sep.2012) Net sales 1,653.5 1,449.2 204.3 Cost of sales 1,577.2 1,408.9 168.3 Selling, general and administrative expenses 60.6 59.0 1.6 Operating income
Slide 4: Outline of Consolidated Operating Results - Changes from 2Q FY2012
[2Q FY2013 Results] 3 Outline of Consolidated Operating results - Changes from 2Q FY2012 Unit: billion yen 2Q FY2013 2Q FY2012 Changes Consolidated ordinary income 18.4 -21.7 40.1 Impact of inventory valuation 6.4 -17.2 23.6 Consolidated ordinary income 12.0 -4.5 16.5 excluding impact of inventory v
Slide 5: Consolidated Ordinary Income Analysis of Changes from 2Q FY2012
[2Q FY2013 Results] Consolidated Ordinary Income 4 (Excluding impact of inventory valuation ) – Analysis of Changes from 2Q FY2012 Petroleum Business : Income increased after the resumption of the Chiba Refinery despite the weakness Main in the product market Factors for Petrochemical Business : Inc
Slide 6: Outline of Consolidated Cash Flows and Balance Sheets
[2Q FY2013 Results] Outline of Consolidated Cash Flows and Consolidated Balance Sheets 5 Unit: billion yen FY2013 FY2013 (As of Sep. 30, '13) (As of Mar. 31, '13) Cash flows from operating activities 39.5 -21.0 Cash flows from investing activities -34.3 -80.5 Cash flows from financing activities 2.0
Slide 7: Highlights of Consolidated Capital Investment
[2Q FY2013 Results] Highlights of Consolidated Capital Investment 6 Capital Expenditures, Depreciation, etc. Capital expenditures by Business Segment Unit: billion yen Unit: billion yen 2Q FY2013 Change from 2Q FY2013 2Q FY2012 Changes Results 2Q FY2012 Results Results Capital expenditures 14.0 -1.2
Slide 8: Key Points for the Revised Full-Year Earnings Forecast for FY2013
Key Points for the Revised Full-Year Earnings Forecast for FY2013 7 Revised Earnings Forecast Reviewed the full-year estimates taking into consideration the 1 sluggish market conditions for oil products and the sales quantity slide of Abu Dhabi Oil for FY2013 1H. Estimates for 2H FY2013 have not bee
Slide 9: Highlights of Consolidated Business Outlook Changes from Previous Announcement
[FY2013 Outlook] Highlights of Consolidated Business Outlook Changes from Previous Announcement 8 Unit: billion yen FY2013 Outlook Previous announcement Changes Consolidated ordinary income 54.0 61.0 -7.0 Impact of inventory valuation 7.0 0 7.0 Consolidated ordinary income excluding impact of invent
Slide 10: Consolidated Ordinary Income Analysis of Changes from Previous Announcement
[FY2013 Outlook] Consolidated Ordinary Income (Excluding impact of inventory valuation ) – Analysis of Changes from Previous announcement 9 Main Petroleum Business : Due to a failure to reach the estimated margin for 1H FY2013. Estimates Factors for for 2H FY2013 have not changed. the Change Oil E &
Slide 11: The 5th Consolidated Medium-Term Management Plan Basic Policy
The 5th Consolidated Medium-Term Management Plan's -Progress for 1H FY2013 and Policy for 2H FY2013- Basic Policy Regain profitability in the refining & marketing sector Secure stable income from investments made during the previous medium term management plan Further strengthen alliances with IPIC
Slide 12: Six Measures Progress - Measure 1: Stable Operation of Three Refineries
[The 5th Consolidated Medium-Term Management Plan's Six Measures Progress for 1H FY2013 and Policy for 2H FY2013] - Measure 1 - 10 - Among the six measures developed under the 5th consolidated medium-term management plan, “operation of two toppers at Chiba Refinery” and “closing down the Sakaide Ref
Slide 13: Six Measures Progress - Measures 2-3
[The 5th Consolidated Medium-Term Management Plan‘s Six Measures Progress for 1H FY2013 and Policy for 2H FY2013] - Measure 2–3 - 11 - Rationalization has been progressing steadily as estimated for 1H FY2013. Extensive Rationalization shall mainly be promoted in the refining sector to ensure appropr
Slide 14: Six Measures Progress - Measures 4-6
[The 5th Consolidated Medium-Term Management Plan‘s Six Measures Progress for 1H FY2013 and Policy for 2H FY2013] - Measures 4–6 - 12 - The respective businesses subject to strategic investment under the previous medium-term management plan have been implemented as planned. - In the petrochemical bu
Slide 15: Measures to Strengthen Competitiveness in the Chiba Area
[Further Promotion of the 5th Consolidated Medium-Term Management Plan] - Measures to Strengthen Competitiveness in the Chiba Area - 13 -Conclusion of Memorandum to Discuss Collaboration Opportunities at Cosmo Oil Chiba Refinery (240,000 BD) and Kyokuto Petroleum Industries Chiba Refinery (175,000 B
Slide 16: Supplementary Information
Supplementary Information P14 ： [2Q FY2013 Results] Sales volume P15 ： [2Q FY2013 Results] Crude Oil Procurement Cost and Processing Volume, Topper Operating Ratios, Crude Oil Production Volume P16 ： [2Q FY2013 Results] Results by Business Segment – Changes from 2Q FY2012 P17 ： [2Q FY2013 Results] H
Slide 17: Sales volume
[2Q FY2013 Results] Sales volume 14 Unit: million litre FY2013 Full Year FY2013 Full outlook 2Q FY2013 2Q FY2012 Year outlook Changes Changes changes from Changes from Results Results previous announcement FY2012 Selling volume in Japan Gasoline 3,101 3,042 60 102.0% 102.0% 101.3% Kerosene 514 510 4
Slide 18: Crude Oil Procurement Cost, Processing Volume, Topper Operating Ratios
[2Q FY2013 Results] Crude Oil Procurement Cost and Processing Volume, 15 Topper Operating Ratios, Crude Oil Production Volume [1] Crude oil procurement cost, processing volume and topper operating ratios 2Q FY2013 2Q FY2012 Changes from 2Q FY2012 Purchased Crude oil (FOB) USD/BBL 104.23 109.40 -5.17
Slide 19: Results by Business Segment - Changes from 2Q FY2012
[2Q FY2013 Results] Results by Business Segment – Changes from 2Q FY2012 16 2Q FY2013 Results – Changes from 2Q FY2012 Unit: billion yen Ordinary Income ( excluding impact of Net Sales Operating Income Ordinary Income inventory valuation , cost or market method) Changes from Changes from Changes fro
Slide 20: Historical Changes in Employees, Oil Storage Depots, SSs and Cards
[2Q FY2013 Results] Historical Changes in the Number of Employees, Oil Storage 17 Depots, SSs and Cards in Force [1] Workforce size (No. of persons) FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 2Q FY2013 Cosmo Oil alone 1,916 1,957 2,064 2,180 2,135 2,025 1,899 1,870 Cosmo Oil Group 3,335 3,299
Slide 21: Outlook by Business Segment - Changes from Previous Announcement
[FY2013 Outlook] Outlook by Business Segment – Changes from previous 18 announcement and Highlights of Consolidated Capital Investment FY2013 Outlook – Changes from Previous announcement Unit: billion yen Ordinary Income ( excluding impact of Net Sales Operating Income Ordinary Income inventory valu
Slide 22: Outlook by Business Segment, Crude Oil Price Assumptions and Sensitivity
[FY2013 Outlook] Outlook by Business Segment, Assumption of Crude Oil Price and Exchange Rate, and Business Sensitivity thereto 19 Full-Year FY2013 Outlook, 2012 with Year-on-Year Changes Unit: billion yen Ordinary Income ( excluding impact of Net Sales Operating Income Ordinary Income inventory val
Slide 23: Consolidated Ordinary Income Analysis of Changes from FY2012
[FY2013 Outlook] Consolidated Ordinary Income (Excluding impact of inventory valuation ) – Analysis of Changes from FY2012 20 Consolidated ordinary income excluding Unit: billion yen impact of inventory valuation : Up ¥13.9 billion from FY2012 +1.7 -10.2 +23.3 +5.2 Price +10.4 -6.1 Volume -13.4 Othe
Slide 24: Diesel Fuel Export Results and Margin Environment
Diesel Fuel Export Results and Margin Environment 21 [KL] [yen/L] 3,500,000 25.0 3,000,000 20.0 2,500,000 15.0 2,000,000 10.0 1,500,000 5.0 1,000,000 0.0 500,000 - -5.0 2006 2007 2008 2009 2010 2011 2012 2013 Total diesel fuel export volume from Japan (left axis:KL) Diesel fuel - Japanese spot marke
Slide 25: Petrochemical Business Aromatic-Product Market Conditions
Petrochemical business Aromatic-Product Market Conditions 22 [USD/ ton] 1,400 800 600 1,200 400 200 1,000 0 [USD/ ton] 800 -200 -400 600 -600 -800 400 -1,000 -1,200 200 -1,400 0 -1,600 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Spread between PX and Naptha price (left axis) Spread b
Slide 26: 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