Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q4 2010 Earnings Presentation
19 slides from Lyondellbasell Industries Nv's earnings presentation, Feb 18, 2011
Slide 1: Fourth-Quarter 2010 Earnings
Fourth-Quarter 2010 Earnings Jim Gallogly, Chief Executive Officer Kent Potter, Chief Financial Officer Sergey Vasnetsov, SVP – Strategic Planning and Transactions February 18, 2011
Slide 2: Cautionary Statement
Cautionary Statement The information in this presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. Actual outcomes and resu
Slide 3: Information Related to Financial Measures
Information Related to Financial Measures In this presentation, we have used non-GAAP financial measures, as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. These non-GAAP financial measures should be considered as a supplement to, and not as a substitute for, or sup
Slide 4: Highlights
Highlights $, Million (except per share data) 4Q10 2010 (1) EBITDA(R) 762 4,035 Net income 874 10,192 Diluted Earnings ($/share) 1.54 Debt repayment 1,233 Full-YearEBITDA(R) Full-Year EBITDA(R)Increase Increaseof of80%, 80%,4Q10 4Q10Year-on-Year Year-on-YearIncrease Increaseof of45% 45% Quarterly EB
Slide 5: LyondellBasell Safety Performance
LyondellBasell Safety Performance 0.50 Injuries per 200,000 hours worked Employees and Contractors 0.40 0.30 0.20 0.10 0.00 2009 2010 4Q10 • Employee full year injury rate declined 41% from 2009 • Contractor safety performance has improved following mid-year meetings - 4Q10 rate: 0.39 • December 201
Slide 6: 2010 Accomplishments
2010 Accomplishments Finance and Legal Manufacturing Commercial • Smooth emergence from Chapter 11 • Increased NGL flexibility resulting in • Expanded ethane supply and flexibility • $3 billion cash generation since ability to run more advantaged • JV highlights emergence ethane China PO successfu
Slide 7: Key Volumes and Margins – 2008 - 2010
Key Volumes and Margins – 2008 - 2010 HRO Volumes Ethylene Volumes PE Volumes PP Volumes PO&D Volumes 244 10 12 4 250 236 10.5 12 222 10.3 3.4 8.4 9.8 8.0 8.1 10 9.6 9.6 10 3.0 3 r d P a r ty S a le s ( b illio n lb s ) 3 r d P a r ty S a le s ( b illio n lb s ) 8 C ru d e Th ru p u t (M B P D ) 200
Slide 8: Fourth-Quarter and Full-Year 2010 Segment EBITDA(R)
LyondellBasell Fourth-Quarter and Full-Year 2010 Segment EBITDA(R) 4Q10 EBITDA (1) 2010 EBITDA(R) (2), (3) $762 million ex $323 million LCM $4,035 million ex $42 million charge reversal LCM charge 4Q10 Operating Income 2010 Operating Income (2), (3) $844 million $2,944 million Fourth-Quarter 2010 EB
Slide 9: Cash Flow Since Emergence
Cash Flow Since Emergence 6,000 5,500 5,000 USD, millions 4,500 4,222 4,000 3,500 3,000 2,711 2,500 (1) (2) May 1, 2010 Cash Flow from Working Capital Debt Repaym ent Capex Other (Asset 4Q10 Ending Cash Beginning Cash Operations sales, FX) Balance Balance excluding Working Capital 1) Includes invent
Slide 10: Working Capital and Liquidity
Working Capital and Liquidity Working Capital (1) Liquidity 7 8 6 6 5 USD, billion 4 USD, billion 4 3 2 2 1 0 0 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 1Q 09 2Q 09 3Q 09 4Q 09 1Q 10 2Q 10 3Q 10 4Q 10 -2 -4 Total WC Inventory AR AP Snapshot at Dec. 31, 2010 Liquidity: ~ $6.1 billion Net Debt:
Slide 11: Olefins & Polyolefins – Americas
Olefins & Polyolefins – Americas 4Q10 EBITDA (1) 2010 EBITDA(R) (2), (3) $342 million ex $163 million LCM $1,719 million ex $34 million charge reversal LCM charge 4Q10 Operating Income 2010 Operating Income (2), (3) $446 million $1,363 million Fourth-Quarter 2010 EBITDA 2010 EBITDA(R) 300 1,500 200
Slide 12: Olefins & Polyolefins – Americas: Highlights and Business Drivers – 4Q10
Olefins & Polyolefins – Americas Highlights and Business Drivers – 4Q10 Fourth-Quarter 2010 Results Indicative Margins (per CMAI) 25 $342 million EBITDA excluding 20 $163 million LCM charge reversal (cents/pound) 15 U.S. Olefins 10 • Margins relatively unchanged 5 • ~75% of ethylene from NGLs 0 -5 4
Slide 13: Olefins & Polyolefins – Europe, Asia, International
Olefins & Polyolefins – Europe, Asia, International 4Q10 EBITDA (1) 2010 EBITDA(R) (2), (3) $115 million ex $10 million LCM charge reversal $818 million 4Q10 Operating Income 2010 Operating Income (2), (3) $66 million $526 million Fourth-Quarter 2010 EBITDA 2010 EBITDA(R) 300 75 250 200 50 USD, mill
Slide 14: Olefins & Polyolefins – Europe, Asia, International: Highlights and Business Drivers
Olefins & Polyolefins – Europe, Asia, International Highlights and Business Drivers – 4Q10 Fourth-Quarter 2010 Results Indicative Margins (per CMAI) 25 $115 million EBITDA excluding n 20 $10 million LCM charge reversal n 15 (cents/pound) 10 EU Olefins 5 • Margin compression on rising 0 naphtha costs
Slide 15: Intermediates & Derivatives: Highlights and Business Drivers – 4Q10
Intermediates & Derivatives Highlights and Business Drivers – 4Q10 Fourth-Quarter 2010 Results 300 2010 Quarterly EBITDA(R) $211 million EBITDA (1) $196 million Operating Income 200 USD, millions Propylene Oxide and Derivatives 100 • Lower volumes driven by seasonality and turnaround activity • Stea
Slide 16: Refining & Oxyfuels
Refining & Oxyfuels 4Q10 EBITDA (1) 2010 EBITDA(R) (2), (3) $79 million ex $133 million LCM charge reversal $452 million 4Q10 Operating Income 2010 Operating Income (2), (3) $144 million $142 million Fourth-Quarter 2010 EBITDA 2010 EBITDA(R) 150 400 125 100 300 USD, million 75 USD, million 200 50 10
Slide 17: Refining & Oxyfuels: Highlights and Business Drivers – 4Q10
Refining & Oxyfuels Highlights and Business Drivers – 4Q10 Fourth-Quarter 2010 Results Spreads (per Platts) 25 $79 million EBITDA excluding $133 million LCM charge reversal 20 (US$/bbl) 15 Houston Refining 10 • Crude throughput: 233 MB/D • Maya 2-1-1 spread: $18.38/bbl 5 • Unplanned refinery and cok
Slide 18: Technology Highlights and Business Drivers – 4Q10
Technology Highlights and Business Drivers – 4Q10 Brindisi, Italy Fourth-Quarter 2010 Results $44 million EBITDA $8 million Operating Income • Seasonally lower catalyst volumes and licensing results • Results negatively impacted by $17 million LIFO inventory adjustment 2010 EBITDA(R) (1), (2) $212 m
Slide 19: Fourth-Quarter Summary and Outlook
Fourth-Quarter Summary and Outlook 2010 Summary 2011 Outlook • $4 billion EBITDA(R) • Continued advantaged U.S. ethane - 80% increase from 2009 position » Olefins & Polyolefins – Americas: +131% • European olefins prices have risen; » Olefins & Polyolefins – EAI: +140% re-establishing mid-2010 margi
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