Equinor Asa · OSL:EQNR
Equinor Asa — Q1 2019 Earnings Presentation
11 slides from Equinor Asa's earnings presentation, May 3, 2019
Slide 1: 1st Quarter 2019 results
1st Quarter 2019 results Eldar Scetre President and Chief Executive Officer
Slide 2: First quarter 2019
First quarter 2019 Solid results across all segments * Higher after tax results, despite lower prices Strong cash flow * Net debt ratio reduced to 19.4% Dividend of 26 cents per share On track to deliver on guiding provided at the Capital Markets Update « Johan Sverdrup start-up in November
Slide 3: Safety
f equinor Safety Serious incidents per million work-hours 12-month rolling figures 2010 2011 2012 2013 2014 2015 2016 2017 2018 12019
Slide 4: Financial results
equinor Financial results 1Q 2019 Million USD 1712 4,732 (545) 4,187 (2,652) 1535 Higher adjusted earnings after tax Tax rate of 63% | Operating costs impacted by new fields Reduced depreciation mainly due to positive reserve revisions Reported results under IFRS16 Netincome ReportedNO! Adjustments
Slide 5: Solid adjusted earnings
equinor *: Solid adjusted earnings | MUL | Adjusted E&P Norway E&P International MMP earnings + Ramping up new fields + High production + Strong liquids trading results + Lower depreciation + High after tox results + Weak refinery margins Million USD Pre tax After tax Pre tax After tax Pre tax After
Slide 6: Production
equinor Production * Production according to expectation * Ramp-up of new fields, portfolio changes and increased well capacity * Higher international production Equity production mboe per day 2,180 2,180 2,178 2178 799 1381 112 1Q 2018 1Q 2018 1Q 2019 1Q 2019 mLiquids Gas mNCS_ minternational
Slide 7: Strong cash generation
Strong cash generation Strong cash flow from operations Net debt ratio! reduced from 22.2% to 19.4% + IFRS16: 25.8% * Organic capex USD 2.2 billion Continued strict capital discipline 1. Adjusted for tox payments on NCS and nom-accessible cash and cash equivalents 2019 YTD Cash flow USD million Cash
Slide 8: Outlook
Outlook Organic capex Exploration Production growth Maintenance 1. Based on USD/NOK exchange rate of 8:25, 2019 2019 2018-2019 2019-2025 2Q 2019 2019 Outlook HLL ms ~L7 ms Around same level ~ 35% cacr a 6 O mboe per day ~AO> move per day equinor *:
Slide 9: 1st Quarter 2019 results
1st Quarter 2019 results Eldar Scetre, President and Chief Executive Officer © Equinor ASA
Slide 10: Forward-looking statements
Forward-looking statements This presentation contains certain forword-Hooking statements that involve risks and uncertainties. In some cases, we use words such as ‘ambition’, ‘continue’, ‘could’ “estimate “expect’ ‘believe’, focus’, "ikely’, ‘may’ ‘outlook’, ‘plan’ ‘strategy’ ‘will, “guidonce" and s
Slide 11: Investor relations in Equinor
equinor *: Investor relations in Equinor E-mail: irpost@equinor.com Investor Relations Europe Peter Hutton Senior Vice President phutt@equinor.com +44 7881 918792 Lars Valdresbraten IR Officer lava@equinor.com +47 40 281789 Erik Gonder IR Officer ergon@equinor.com +4799 56 26 11 Ida Marie Fjellheim