Dana Gas PJSC · ADX:DANA

Dana Gas PJSC — FY2024 Earnings Presentation

20 slides from Dana Gas PJSC's earnings presentation, Feb 7, 2025

  1. Slide 1: FY 2024 – Financial Results

    FY 2024 – FINANCIAL RESULTS 7 February 2025 CLEAN ENERGY FOR THE FUTURE

  2. Slide 2: Contents

    CONTENTS I. Headlines II. Operational Performance III. Financial Update IV. Summary 2

  3. Slide 3: Disclaimer

    DISCLAIMER This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo

  4. Slide 4: Headlines

    © jLé dla DANAGAS HEADLINES

  5. Slide 5: Snapshot – FY 2024

    SNAPSHOT – FY 2024 FINANCIALS OPERATIONS  Net Profit of $151mm – 6% decline compared to $160mm in 2023, due to  Group production down 7% at 54,850 boepd vs 58,700 in 2023; production drop in Egypt and lower realized prices;  KRI production up 4% driven by increased demand from local power  Reven

  6. Slide 6: Operational Performance

    © jc d_ila DANAGAS OPERATIONAL PERFORMANCE

  7. Slide 7: KRI: Energising the Country

    KRI: ENERGISING THE COUNTRY OPERATIONS  Production operations remained strong and grew throughout the year. Khor Mor continues to play an important role in enabling regional power generation.  4% increase in net production 38,400 boepd in 2024 (173 MMscf of gas; 5,246 bbl/d of condensate and 371 M

  8. Slide 8: Egypt: Operations Overview

    EGYPT: OPERATIONS OVERVIEW OPERATIONS  Produced 16,450 boepd during full year 2024 (80 MMscf of gas; 1550 bbl/d of condensate and 132 MTPD of LPG); 25% drop compared to full year 2023 as a result of natural field declines  Over the past few years, successfully managed to slow production declines t

  9. Slide 9: Production (boepd)

    PRODUCTION (BOEPD) AVERAGE PRODUCTION FY 2023 VS FY 2024 (KBOE/D) AVERAGE PRODUCTION Q4 2023 VS Q4 2024 (KBOE/D) 55.7 53.5 58.7 54.8 7.1 38.9 6.6 7.5 36.1 36.9 38.4 6.8 5.2 21.8 5.2 5.2 5.3 19.5 45.0 16.4 42.4 14.6 41.2 2.2 42.1 27.3 28.8 1.6 1.9 29.3 17.7 26.5 1.4 13.3 15.8 11.9 KRI Egypt Group KRI

  10. Slide 10: Realized Prices (USD/boe)

    REALIZED PRICES ( USD/BOE) AVERAGE REALIZED PRICE - CONDENSATE (USD/BBL) AVERAGE REALIZED PRICE - LPG (USD/BOE) FY 2023 FY 2024 FY 2023 FY 2024 $83 $81 $83 $81 $74 $73 $51 $50 $50 $44 $41 $35 $35 $34 $28 $29 Brent Dana Gas KRI Egypt Brent Dana Gas KRI Egypt 10

  11. Slide 11: Financial Update

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  12. Slide 12: Revenue Highlights

    REVENUE HIGHLIGHTS YEARLY REVENUE BREAKDOWN ($MM) QUARTERLY REVENUE BREAKDOWN ($MM) 419 441 158 75 19 81 101 25 107 96 218 201 140 225 216 7 20 8 44 47 28 49 57 37 41 47 31 66 12 114 80 60 259 12 8 86 198 16 15 17 112 147 45 94 104 24 28 21 KRI Egypt Total KRI Egypt Total KRI Egypt Total KRI Egypt T

  13. Slide 13: Profit Highlights

    PROFIT HIGHLIGHTS GROSS PROFIT ($MM) NET PROFIT ($MM) 350 2023 2024 200 2023 2024 300 160 257 263 151 150 250 216 200 190 100 150 100 88 75 50 34 39 56 50 37 0 0 FY - Gross Profit Q4 - Gross profit FY-EBITDA Q4 - EBITDA FY Q4  Net profit decreased 6% in 2024 due to lower realized prices and lower p

  14. Slide 14: G&A / Opex Highlights

    G&A / OPEX HIGHLIGHTS G&A / OPEX ($MM) G&A OPEX G&A/boe ($/boe) Opex/boe ($/boe) 60 57 60 55 57 53  Company OPEX and G&A costs remain extremely 2.85 3.00 2.65 2.59 competitive on an industry wide basis 2.38 2.47  OPEX and G&A costs below $3.5/boe and remains 40 within industry’s top quartile 2.00

  15. Slide 15: Capex Highlights

    CAPEX HIGHLIGHTS CAPEX ($MM)  Total $73mm in 2024 vs $145mm reflecting lower investment activates in both jurisdictions  $56mm in the KRI driven down by the suspension of the KM250 project  Capex expected to increase following the resumption of KM 250 138 145  Capex requirements for the KM250 pr

  16. Slide 16: Cash Flow, Liquidity & Receivables

    CASH FLOW, LIQUIDITY & RECEIVABLES DEBT AND CASH BALANCE ($MM)  $317mm cash balance vs. $131mm at FY2023;  $235mm of cash balance held at Pearl Petroleum 400  Cash was boosted due to the successful placing of Pearl’s bond  As of year-end 2024, Company’s total borrowings stands at 317 300 252 255

  17. Slide 17: Cash Flow, Liquidity & Receivables

    CASH FLOW, LIQUIDITY & RECEIVABLES BILLINGS AND COLLECTIONS ($MM) Egypt collection KRI collection  Collected $326mm in 2024; realization realization  $261mm, Company’s share of Pearl’s collections in the KRI 116%  Company’s share of KRI trade receivables down to $67mm ($103mm at YE 2023) with a c

  18. Slide 18: Summary

    © jLé dla DANAGAS SUMMARY

  19. Slide 19: Summary

    SUMMARY  STRONG OPERATIONAL AND FINANCIAL PERFORMANCE  Revenue increased 5% YoY to $445mm, supported by improved fiscal terms in Egypt and higher KRI production.  Net profit of $151mm, after a one-off $33mm impairment in Egypt. Excluding this, net profit was $184mm, a 15% YoY increase.  37% incr

  20. Slide 20: Reach Us

    REACH US: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : mohammed.mubaideen@danagas.com Direct : +971 6 519 4401 20

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