Slide 1: OMV Petrom Q1/19 Results
OMV Petrom Q1/19 Results Christina Verchere, CEO May 3, 2019 OMV Petrom S.A.
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation does not, and is not intended to, constitute or form part of, This presentation may contain forward-looking statements. These statements and should not be construed as, constituting or forming part of, any actual reflect the Company’s current knowledge and its expe
Slide 3: Economic environment
Economic environment Oil price (USD/bbl) Gas prices (EUR/MWh)1 25.1 25.0 25.9 74 75 20.5 21.3 24.5 74 69 22.6 73 20.9 67 68 18.2 63 16.7 65 63 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Avg Urals price in USD/bbl Avg Brent price in USD/bbl BRM future deliveries 2 CEGH 3 Power prices
Slide 4: Romanian environment
Romanian environment Macroeconomic environment Fiscal framework Provisional 2018 GDP growth1: +4.1% yoy; GEO 114/2018 amended by GEO 19/2019: Q4/18 GDP growth1: +4.0% yoy • gas price cap for CPI annual inflation: Q1/19: households5: RON 68/MWh 2.1%; Mar 19/Mar 18: 4.0% • regulated power price for ho
Slide 5: Key messages Q1/19
Key messages Q1/19 performance Clean CCS Financial Operating Operating result Clean CCS Cash Flow ROACE RON 1.2 bn RON 1.5 bn 15.2% Portfolio optimization: Milestones Transfer of 9 marginal fields to Mazarine Energy Romania closed in March Strategic Divestment process for further fields ongoing
Slide 6: Operational KPIs
Operational KPIs Upstream Downstream Oil Downstream Gas OPEX OMV Petrom Indicator Gas sales volumes (USD/boe) refining margin (USD/bbl) (TWh) -2% -2% -45% -14% -14% -45% 11.89 11.67 11.66 14.20 10.41 10.73 6.56 6.72 6.62 12.88 12.23 5.27 10.51 9.74 3.62 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q1/18 Q2/18 Q3/1
Slide 7: CAPEX and E&A
CAPEX and E&A Group CAPEX incl. capitalized E&A CAPEX incl. capitalized E&A (RON bn) Q1/19 at RON 0.8 bn: 21 new wells and sidetracks drilled -14% 4.3 244 workovers performed 3.7 compliance projects in refining 2019E RON ~3.7 bn: Drilling ~100 wells and sidetracks -2% 0.8 0.8 Maintain a
Slide 8: OMV Petrom Q1/19 Results - Alina Popa, CFO
OMV Petrom Q1/19 Results Alina Popa, CFO May 3, 2019 OMV Petrom S.A.
Slide 9: Income Statement highlights
Income Statement highlights Clean CCS Operating Result (RON bn) +28% 1.43 Clean CCS Operating Result reflects: 1.23 0.96 ► Favorable commodities prices and FX development ► Higher sales volumes of fuels and electricity Q1/18 Q4/18 Q1/19 ► Lower exploration expenses Co&O and Cons Downstream Upstrea
Slide 10: Clean CCS Operating Result
Clean CCS Operating Result Upstream Higher realized gas prices (RON mn) 825 Favourable FX 645 161 -73 13 79 Clarification of a tax topic Lower exploration expenses Q1/18 Market Volume Exploration Other Q1/19 Sales volumes -5% effects Downstream (RON mn) 378 96% refining utilization rate
Slide 11: Cash Flow highlights
Cash Flow highlights Operating Cash Flow (RON bn) -16% -16% 1.80 1.82 1.51 Q1/19 Net working capital: cash outflow RON 188 mn Higher cash outflow for profit tax yoy, RON ~160 mn Q1/18 Q4/18 Q1/19 Free Cash Flow (RON bn) -9% 0.73 0.69 0.67 Q1/19 OCF1 -16% yoy Q1/19 CAPEX -2% yoy Q1/19 CFI2
Slide 12: Outlook 2019
Outlook 2019 Indicators Actual 2018 Assumptions/Targets 2019 Brent oil price USD 71/bbl USD 65/bbl USD <6.00/bbl Refining margin USD 6.28/bbl (previously USD ~6.28/bbl) Production 160 kboe/d ~ -5% yoy 1 CAPEX RON 4.3 bn RON 3.7 bn FCF after dividends RON 2.0 bn positive 1 Not including portfolio opt
Slide 13: Q&A
< 1a f= S oO a > = fo) E 2 @ at > = O The energy for a better life.