Hibiscus Petroleum Bhd. · MYX:HIBISCS
Hibiscus Petroleum Bhd — Q4 FY2022 Earnings Presentation
23 slides from Hibiscus Petroleum Bhd's earnings presentation, Aug 24, 2022
Slide 1: Quarterly Results
Quarterly Results Highlights of the Financial Results for the Quarter Ended 30 June 2022 (Fourth financial quarter of financial year ended 30 June 2022) Briefing for Analysts and Fund Managers 24 August 2022
Slide 2: Disclaimer
Disclaimer The purpose of this presentation is to provide general information about Hibiscus Petroleum Berhad (the “Company”) to assist potential investors in making their own evaluation of the Company and does not purport to be all-inclusive or to contain all of the information that a prospective i
Slide 3: Content
Content Part 1: Key Messages Part 2: Main Updates • 4Q FY2022 Group Financials (vs. Previous Quarter) • Snapshot of Adjusted FY2022 Group Results vs FY2021 • Operational Highlights • Q1 FY2023 and Q2 FY2023 Oil & Condensate Offtake Schedule and Gas Sales • Reserves and Resources Update Part 3: Oil M
Slide 4: Part 1: Key Messages
Part 1 Key Messages 4 Hibiscus Petroleum Berhad Registration Number: 200701040290 (798322-P)
Slide 5: Key Messages
Key Messages Fully operated and producing portfolio fulfils expectations and meets Group’s FY2022 targets • Sold 1.4 MMbbl of oil and condensate and over 590,000 boe of gas in the current quarter from our producing assets • Achieved expectations for FY2022 selling a total of 4.6 MMboe of oil, conden
Slide 6: Part 2: Main Updates
Part 2 Main Updates • 4Q FY2022 Group Financials (vs. Previous Quarter) • Snapshot of Adjusted FY2022 Group Results vs FY2021 • Operational Highlights • Q1 FY2023 and Q2 FY2023 Oil & Condensate Offtake Schedule and Gas Sales • Reserves and Resources Update 6 Hibiscus Petroleum Berhad Registration Nu
Slide 7: 4Q FY2022 Group Financials (vs. Previous Quarter)
4Q FY2022 Group Financials (vs. Previous Quarter) 4Q FY2022 3Q FY2022 RM’000 Excludes (i) Negative Excludes Australia’s As disclosed in QR As disclosed in QR goodwill ** & (ii) impairment * Australia’s impairment * Revenue 868,367 868,367 297,060 297,060 Gross Profit 605,506 605,506 261,863 261,863
Slide 8: Snapshot of Adjusted FY2022 Group Results vs FY2021
Snapshot of Adjusted FY2022 Group Results vs FY2021 FY2022 RM’000 Adjustments FY2021 As reported in Less: Add: Adjusted QR Negative Australia’s goodwill impairment Revenue 1,696,521 - - 1,696,521 804,781 EBITDA 1,131,932 (317,319) 46,942 861,555 380,829 PAT 613,058 (317,319) 46,942 342,681 103,676 1
Slide 9: Operational Highlights
Operational Highlights Recently Acquired North Sabah Anasuria Cluster Total or Average Assets1 Average uptime % 85 61 91 - Average net oil & condensate production bbl/day 4,460 1,644 6,118 12,222 Average net gas export rate2 boe/day - 239 6,280 6,519 Average net oil, condensate and gas boe/day 4,460
Slide 10: Q1 FY2023 and Q2 FY2023 Oil & Condensate Offtake Schedule and Gas Sales
Q1 FY2023 and Q2 FY2023 Oil & Condensate Offtake Schedule and Gas Sales Total oil, condensate and gas sales volume (boe) Latest Estimate – Q1 FY2023 Latest Estimate – Q2 FY2023 July August September October November December Total Total 2022 2022 2022 2022 2022 2022 North Oil - @ 294,000 @@ - @@ 294
Slide 11: Reserves and Resources Update
Reserves and Resources Update • As of 1 July 2022, our net entitlement to 2P oil, condensate and gas reserves and 2C oil resources within the licenses in which we have interests are as follows: 100 Million Barrels of Oil Equivalent UK - Teal West UK - Marigold & Sunflower 75 70.2 4.0 Australia - VIC
Slide 12: Part 3: Oil Market Outlook
Part 3 Oil Market Outlook • Oil Market Balances • Brent Oil Price Outlook 12 Hibiscus Petroleum Berhad Registration Number: 200701040290 (798322-P)
Slide 13: Oil Market Balances
Oil Market Balances Global liquids supply and demand balances, Rystad base case million barrels per day million barrels per day 6 104 Implied stock change 5 Products Demand (rhs) 102 Liquids Supply (rhs) 4 100 3 98 2 96 1 2.2 94 1.7 1.9 2.0 0 0.0 0.3 0.7 92 -0.3 -0.9 -1.3 -1.4 -1.4 -1 -2.2 -2.2 -1.9
Slide 14: Brent Oil Price Outlook
Brent Oil Price Outlook Brent historical prices, latest futures curves and Rystad scenarios USD per barrel 180 Bull case 170 Brent Base Case 160 Brent futures curve (pre-invasion, 16 Feb) 150 Brent front month (historical) 140 Brent futures curve 127.98 130 Brent Bear Case Brent Bull Case 120 110 10
Slide 15: Part 4: Financial Highlights
Part 4 Financial Highlights • 4Q FY2022 Operating Segment Financials • Key Factors Affecting Kinabalu and Others’ 4Q FY2022 Financial Results • Key Factors Affecting PM3 CAA’s 4Q FY2022 Financial Results • Key Factors Affecting North Sabah’s 4Q FY2022 Financial Results • Key Factors Affecting United
Slide 16: Strong and Consistent EBITDA Margins
Strong and Consistent EBITDA Margins Flexibility to Navigate Industry Downturns • Operational control grants the ability to concentrate on operating efficiencies (cost control, production enhancement) when oil prices are low and shift to development mode when oil prices are high • Remained cash flow
Slide 17: 4Q FY2022 Operating Segment Financials
4Q FY2022 Operating Segment Financials (I) Group P&L by Segment Malaysia – Kinabalu Subtotal Malaysia Total and others United 1 RM’000 CAA Vietnam (PHSB – North Australia Others (HPB Kingdom Kinabalu Others Group) Sabah Group) Revenue 179,806 5,280 259,403 - 444,489 316,040 106,790 - 1,048 868,367 G
Slide 18: Key Factors Affecting Kinabalu and Others' 4Q FY2022 Financial Results
Key Factors Affecting Kinabalu and Others’ 4Q FY2022 Financial Results • Sales of crude oil generated revenue of RM185.1 million: ‒ Kinabalu – 350,236 bbls @ USD121.15/bbl Kinabalu: Others (PM305 & PM314): ‒ PM305 and PM314 – 10,382 bbls @ USD119.07/bbl Financials RM’000 Financials RM’000 • High gro
Slide 19: Key Factors Affecting PM3 CAA's 4Q FY2022 Financial Results
Key Factors Affecting PM3 CAA’s 4Q FY2022 Financial Results Financials RM’000 • The segment’s PAT was RM92.1 million, representing 42.8% of the Group’s total PAT. Revenue 259,403 • Revenue and gross profit achieved were RM259.4 million and RM191.2 Gross Profit 191,214 million respectively. Gross pro
Slide 20: Key Factors Affecting North Sabah PSC's 4Q FY2022 Financial Results
Key Factors Affecting North Sabah PSC’s 4Q FY2022 Financial Results Financials RM’000 • 4Q FY2022’s revenue (RM316.0 million) almost tripled when compared to 3Q FY2022 (RM113.1 million). 611,800 bbls of Revenue 316,040 crude oil in two cargoes were sold in 4Q FY2022 as compared to Gross Profit 219,0
Slide 21: Key Factors Affecting United Kingdom's 4Q FY2022 Financial Results
Key Factors Affecting United Kingdom’s 4Q FY2022 Financial Results • Revenue increased by 84% when compared to 3Q FY2022 due to higher volume of crude oil sold and higher oil price, partially offset by lower gas price. Revenue Financials RM’000 breakdown: Revenue 106,790 ‒ Crude oil: 4Q FY2022 - RM9
Slide 22: Highlights from the Group's Balance Sheet
Highlights from the Group’s Balance Sheet As at As at As at As at As at RM 30 June 2022 31 March 2022 31 Dec 2021 30 Sept 2021 30 June 2021 Total assets 5,508.9m 4,506.8m 3,099.6m 2,880.4m 2,788.0m Shareholders’ funds 2,160.5m 1,874.2m 1,553.0m 1,529.5m 1,473.9m Cash and bank balances 707.8m 437.8m
Slide 23: Thank You
Thank You For more information please contact: Investor Relations Team faq@hibiscuspetroleum.com 23 Hibiscus Petroleum Berhad Registration Number: 200701040290 (798322-P)
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