Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q3 2013 Earnings Presentation
17 slides from Lyondellbasell Industries Nv's earnings presentation, Oct 29, 2013
Slide 1: Third-Quarter 2013 Earnings
Exhibit 99.2 October 29, 2013 Third-Quarter 2013 Earnings Jim Gallogly, Chief Executive Officer Karyn Ovelmen, Chief Financial Officer Sergey Vasnetsov, SVP - Strategic Planning and Transactions Doug Pike, VP - Investor Relations
Slide 2: Cautionary Statement
Cautionary Statement The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made and are subject to significant ris
Slide 3: Information Related to Financial Measures
Information Related to Financial Measures We have included EBITDA in this presentation, which is a non-GAAP measure, as we believe that EBITDA is a measure commonly used by investors. However, EBITDA, as presented herein, may not be comparable to a similarly titled measure reported by other companie
Slide 4: Highlights
Highlights ($ in millions, except per share data) 3Q'13 2Q'13 3Q'12 EBITDA(1) $1,531 $1,652 $1,589 Income from Continuing Operations(1) $854 $923 $851 Diluted Earnings ($ / share) from Continuing Operations $1.51 $1.60 $1.47 LTM EBITDA - $6,033 million LTM EPS - $5.80 per share ($ in millions) (1) E
Slide 5: LyondellBasell Safety Performance
LyondellBasell Safety Performance Injuries per 200,000 Hours Worked(1) 0.5 0.4 0.3 0.2 0.1 0.0 2009 2010 2011 2012 2013 Q3 YTD 1) Includes employees and contractors. lyondellbasell.com 5
Slide 6: Third Quarter 2013 and Last-Twelve-Months (LTM) Segment EBITDA
Third Quarter 2013 and Last-Twelve-Months (LTM) Segment EBITDA Q3’13 EBITDA LTM September 2013 EBITDA $1,531 million $6,033 million Q3’13 Operating Income LTM Operating Income $1,207 million $4,797 million ($ in millions) ($ in millions) $1000 $3,750 Third Quarter 2013 EBITDA September 2013 LTM EBIT
Slide 7: Cash Flow
Cash Flow ($ in millions) Third Quarter 2013 LTM September 2013 $5,000 $10,000 4,000 8,000 3,000 6,000 $4,414 2,000 4,000 $3,233 $4,414 $3,527 1,000 2,000 0 (1) (3) (1) 0 Q2'13 CF from Working (2) Capex Dividends & Net Debt Other Q2'13 Ending Q3'12 (1) CF from Working (2) Capex (3) Dividends & Net D
Slide 8: Sustained Cash Generation: Share Repurchases & Dividends
Sustained Cash Generation: Share Repurchases & Dividends Cash From Operations Dividends & Share Repurchases ($ in millions) ($ in millions) $6,000 $3,000 5,000 2,500 4,000 2,000 3,000 1,500 2,000 1,000 1,000 500 May - Dec 2010 2011 2012 LTM Sept 2013 May - Dec 2010 2011 FY2012 2013 Q3 YTD Capex Free
Slide 9: Olefins & Polyolefins - Americas Highlights and Business Drivers - 3Q'13
Olefins & Polyolefins - Americas Highlights and Business Drivers - 3Q’13 EBITDA(1) Performance vs. 2Q’13 ($ in millions) EBITDA Margin Volume $1000 U.S. Olefins • Clinton olefin and polyolefins turnaround 800 • Limited spot sales; Metathesis unit up • Contract price down ~ 1¢/lb 600 Polyethylene 400
Slide 10: Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 3Q'13
Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 3Q’13 EBITDA Performance vs. 2Q’13 ($ in millions) EBITDA Margin Volume $400 EU Olefins • Margin compression – higher naphtha and lower co-products prices 300 • Operating rate ~ 90% Polyethylene 200 • Spread up ~ 2
Slide 11: Intermediates & Derivatives Highlights and Business Drivers - 3Q'13
Intermediates & Derivatives Highlights and Business Drivers - 3Q’13 EBITDA Performance vs. 2Q’13 ($ in millions) EBITDA Margin Volume $500 Propylene Oxide and Derivatives 400 • Absence of Q2 turnaround impacts 300 Intermediates • Increased volumes post Q2 200 turnarounds • Improved styrene margins 1
Slide 12: Refining Highlights and Business Drivers - 3Q'13
Refining Highlights and Business Drivers - 3Q’13 EBITDA Performance vs. 2Q’13 ($ in millions) EBITDA Margin Volume $200 Houston Refinery • Crude throughput: 250 MBPD 160 • Maya 2-1-1: $23.22 bbl • RINs cost down $12 million 120 • Realized margins declined due to • Maintenance 80 • Crude price volati
Slide 13: Projects Completed and Active
Projects Completed and Active Cost Potential Pre-Tax Earnings Project Start-up ($Million) ($ Million/year) Increase Ethane Capability ~$25 2012 $120 - $140 Midwest Debottlenecks ~$25 2012 $30 - $40 EU Butadiene Expansion ~$100 Mid 2013 $40 - $50 Methanol Restart ~$170 Late 2013 $250 - $260 PE Debott
Slide 14: Upcoming Projects Update: Methanol Re-start, La Porte Expansion
Upcoming Projects Update Methanol Re-start La Porte Expansion • Location: Channelview, TX • Location: LaPorte, TX • Scope: 780 KT Methanol • Scope: 800 million lbs Ethylene • Start-up: Q4’2013 • Start-up: Q2’2014 • Cost: ~ $170 million • Cost: ~ $420 million • Potential Growth Value (1): ~$250 - 260
Slide 15: Upcoming Projects Update: Corpus Christi NGL Fractionator, Channelview Expansion
Upcoming Projects Update Corpus Christi TexStar NGL Channelview Expansion Fractionator (1) • Location: Corpus Christi, TX • Location: Channelview, TX • Start-up: Q4’2013 • Scope: 250 million lbs Ethylene • Benefit: Increased supply flexibility of • Start-up: Early 2015 NGLs to the site • Cost: ~ $20
Slide 16: Projects Annual Potential Values & Completion Timeline
Projects Annual Potential Values & Completion Timeline Annual Potential Value (1) ($ Million/ yr) $1,200 Q4 1,000 800 Q1 Q2 600 400 Q4 Q1 200 Q2 BD Methanol PE La Porte Channelview Corpus Expansion Restart Debottleneck Expansion Expansion Christi Expansion 1) Annual potential values are based on LTM
Slide 17: Third-Quarter Summary and Outlook
Third-Quarter Summary and Outlook Third-Quarter Summary Near-Term Outlook – Continued strength in O&P – – Overall, trends continue with typical Americas results seasonal slow-down in select products • Impact from scheduled Clinton olefin and polyolefins turnaround – O&P – Americas continues to benef
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