Conpet Sa · BVB:COTE
Conpet Sa — Q1 2018 Earnings Presentation
22 slides from Conpet Sa's earnings presentation, May 16, 2018
Slide 1: Report Results 2018 Q1
CONPET © 115 YEARS OF EXPERIENCE REPORT RESULTS 2018 Q1 May 16, 2018
Slide 2: Annotations regarding the document
ANNOTATIONS REGARDING THE DOCUMENT •This presentation called “ Presentation of the financial results • This Presentation does not contain a complete and exhaustive Q1 2018” is prepared by CONPET S.A. (“CONPET”) with the financial or commercial analysis of CONPET, nor does it provide purpose of prese
Slide 3: Presentation of Financial Results 2018 Q1
Presentation of Financial Results 2018 Q1 page 1. Key indicators 4 2. Operating Results 5 3. Financial Results 6 4. Investments 11 5. Stock Market Performance 13 6. Annexes 17 3
Slide 4: 1. Key Indicators 2018 Q1 / 2017 Q1
1. KEY INDICATORS 2018 Q1 / 2017 Q1 • Upward revenues by 12.8% on the import 99.0 / 99.3 mRON ▼ 0.2% subsystem, but lower by 2.9% on the domestic OPERATING REVENUES, o/w: subsystem. • The higher revenues on the import subsystem 20.7 / 18.4 mRON ▲ 12.6% compensate the decrease on the domestic REVENUE
Slide 5: 2. Operating Results 2018 Q1 / 2017 Q1
2. OPERATING RESULTS 2018 Q1 / 2017 Q1 1,731 / 1,532 thousand tons ▲12.9% 2018 Q1 TOTAL QUANTITIES TRANSPORTED TO THE REFINERIES 261 864 / 887 thousand tons ▼ 2.6% QUANTITIES TRANSPORTED ON THE DOMESTIC SUBSYSTEM 30 573 867 / 645 thousand tons ▲ 34.3% 1,731 QUANTITIES TRANSPORTED ON THE DOMESTIC Tho
Slide 6: 3.1 Profitability of the Transport Subsystems
3. FINANCIAL RESULTS 3.1 PROFITABILITY OF THE TRANSPORT SUBSYSTEMS 2018 Q1 / 2017 Q1 mRON DOMESTIC IMPORT TOTAL SUBSYSTEM SUBSYSTEM SUBSYSTEMS 6.3 5.5 11.8 T1 2018 63.0 T1 2018 15.2 T1 2018 78.2 20.7 69.3 90.0 5.5 13.9 T1 2017 12.9 19.3 2017 Q1 57.5 18.4 T1 2017 70.5 71.4 89.8 0.0 50.0 100.0 0.0 50.
Slide 7: 3.2 Turnover per Clients
3. FINANCIAL RESULTS 3.2 TURNOVER PER CLIENTS 2018 Q1 / 2017 Q1 TURNOVER - CLIENTS (mRON) SHARE IN TURNOVER (%) Changes 2018 2017 2018/2017 CLIENTS 91.1 Q1 Q1 91.0 mRON % 140.0% 86.5% 79.3% 72.2 78.8 -6.6 ▼ 8.3% 120.0% 100.0% 80.0% 17.8 10.8 +7.0 ▲ 63.9% 60.0% 19.6% 11.9% 40.0% 20.0% 1.1% 1.6% 1.0 1
Slide 8: 3.3 Operating Revenues
3. FINANCIAL RESULTS 3.3 OPERATING REVENUES 2018 Q1/ 2017 Q1 Changes 2017 Indicators (mRON) 2018 2018/2017 Q1 Q1 mRON % Revenues from transport services on the Domestic subsystem 69.3 71.4 -2,1 ▼ 2.9% Revenues from transport services on the Import subsystem 20.7 18.4 +2,3 ▲ 12.6% Total revenues from
Slide 9: 3.4 Operating Expenses
3. FINANCIAL RESULTS 3.4 OPERATING EXPENSES 2018 Q1/ 2017 Q1 Changes 2018 2017 2018/2017 Indicators (mRON) Q1 Q1 mRON % Material expenses 1.6 1.5 +0.1 ▲ 6.8% Expenses with energy , gas and water 3.7 3.1 +0.6 ▲20.3% Personnel expenses 31.7 24.8 +6.9 ▲28.0% Expenses related to the amortization of 11.2
Slide 10: 3.5 Main Economic and Financial Indicators
3. FINANCIAL RESULTS 3.5 MAIN ECONOMIC ANF FINANCIAL INDICATORS 2018 Q1 / 2017 Q1 2018 2017 Indicators Q1 Q1 Sales gross margin 15.3% 25.4% Gross profit rate 13.9% 23.0% Return on equity 1.7% 2.5% Net profit per share(RON/share) 1.32 2.26 EBITDA margin 26.4% 36.4% 36.4% 25.4% 26.4% 23.0% 2018 Q1 15.
Slide 11: 4.1 Evolution of the Investments Achieved
4. INVESTMENTS 4.1 EVOLUTION OF THE INVESTMENTS ACHIEVED 2018 Q1/ 2017 Q1 TOTAL INVESTMENTS mRON 13.0 10.6 6.6 4.6 T1 2018 T1 2017 Programat Realizat PUBLIC DOMAIN OPERATING DOMAIN mRON mRON 12.6 1.8 9.3 1.3 1.2 4.8 3.4 0.4 T1 2018 T1 2017 T1 2018 T1 2017 Programat Realizat Programat Realizat 11
Slide 12: 4.2 Investments Program 2018-2020
4. INVESTMENTS 4.2 INVESTMENTS PROGRAM 2018-2020 The value of the expenses related to the investment objectives proposed in 2018-2020 Investments Program is: -2018 - 76.6 mRON -2019 - 80.1 mRON -2020 - 79.6 mRON The investment program for 2018, in total amount of 76.6 mRON, includes: Pipeline repl
Slide 13: Stock Market Performance: Latest Progress and Corporate Events
4. STOCK MARKET PERFORMANCE 4.1 LATEST PROGRESS AND CORPORATE EVENTS The evolution of COTE share (RON) vs. BET index (rebased) January - March 2018 130 90000 Stock performance within the first 3 months of 2018: 125 CONPET: +12.16% 80000 BET : +10.16% 70000 120 60000 115 50000 110 40000 105 30000 100
Slide 14: Evolution of COTE Share vs. Stock Market Indices
4. STOCK MARKET PERFORMANCE 4.2 EVOLUTION OF COTE SHARE VS. STOCK MARKET INDICES (REBASED) WHERE IT IS INCLUDED 125 120 115 110 105 100 COTE BET-BK (rebased) BET-NG (rebased) BETPlus (rebased) 95 BET-TR (rebased) BET-XT (rebased) BET-XT-TR (rebased) 90 Dividend Yield Top dividends distributed by the
Slide 15: 5.3 Recent and Future Events
5. STOCK MARKET PERFORMANCE 5.3 RECENT AND FUTURE EVENTS March 03, 2017 November 9, 2017 April 26, 2018 The Bucharest Stock Exchange CONPET S.A. wins the prize for The Ordinary General Meeting of informed that the company the highest dividend yield at the Shareholders approved the allocation CONPET
Slide 16: 6. Annexes
6. ANNEXES
Slide 17: Profit & Loss Account and Financial Standing
PROFIT & LOSS ACCOUNT FINANCIAL STANDING 2018 2017 VARIATION March 31, March 31, Indicators (mRON) Indicators (mRON) Q1 Q1 mRON 2018/2017 2018 2017 Sales revenues 91.0 91.1 -0.1 ▼ 0.1% Tangible assets 409.3 407.3 Other operating revenues 8.0 8.2 -0.2 ▼ 1.8% Non-tangible assets 1.2 1.4 out of which r
Slide 18: Comparison with 2018 Q1 Budget
COMPARISON WITH 2018 Q1 BUDGET QUARTER I Achieved Achieved Achieved Achieved Budgeted vs. Budgeted Indicators (mRON) 2018 vs. 2017 2018 2017 2018 2018 mRON % mRON % Operating revenues Turnover revenues 91.0 91.1 88.6 -0.1 ▼ 0.1% +2.4 ▲ 2.7% Other revenues 8.0 7.3 7.8 +0.7 ▲ 10.6% +0.2 ▲ 3.8% proceed
Slide 19: CONPET Business
CONPET BUSINESS Company’s Brief Overview Transport Network Overview Operator of the national crude oil, rich gas and condensate CONPET S.A. operates 3,800 km of pipelines with a transport network; total transport throughput of 18.1 million tons/year, the Natural monopoly position on the Romani
Slide 20: The National Transport Network Operated by CONPET
SISTEMUL NATIONAL DE TRANSPORT OPERAT DE CONPET S.A. JO CONPET THE NATIONAL TRANSPORT NETWORK OPERATED BY CONPET $F Rampa titei ara Rampé gazolina Statie gazolina @ ‘Stale pompare Moldova mea © Sate automatzata Domestic crude oil i fitel Import fe) loading depot U n g aria e apes Rich gas : loading
Slide 21: The Board of Administration
THE BOARD OF ADMINSTRATION STAN - OLTEANU Manuela Petronela VĂDUVA Constantin Jurist Economist Chairman Member IACOB Constantin Ciprian Jurist POPA Claudiu Member Aurelian Jurist Member BUGICĂ Radu Economist Member LEFTER Răzvan Ștefan Economist MATEI Ion Cristian Member Inginer Member 21
Slide 22: Thank you for your kind attention!
2015 CALENDAR FINANCIAR Thank you for your kind attention! www.conpet.ro