Galp Energia, Sgps S.a. Class B · EURONEXT:GALP
Galp Energia, Sgps S.a. Class B — Galp Energia — FY2015 Earnings Presentation
24 slides from Galp Energia, Sgps S.a. Class B's earnings presentation, Feb 8, 2016
Slide 1: Results 12 Months of 2015
1 08 February, 2016 RESULTS 12 MONTHS OF 2015 Integrated energy operator focused on exploration and production 12 months 2015 results
Slide 2: Disclaimer
DISCLAIMER 2 This presentation contains forward-looking statements about the activities and results of Galp Energia as well as some Company plans and objectives. The terms “anticipates”, “believes”, “estimates”, “expects”, “predicts”, “aims”, “plans” and other similar ones aim to identify such forwa
Slide 3: Agenda
AGENDA 3 MARKET OPERATIONAL DATA RESULTS 12 months 2015 results
Slide 4: Prices Fall, Volumes Increase
PRICES FALL, VOLUMES INCREASE 4 Refining margins vs. Brent price Iberian market growth ($/bbl) (kton, mmcm) 8,0 100 1.000 90 500 80 6,0 70 0 60 4,0 50 -500 40 -1.000 30 2,0 20 -1.500 10 -2.000 0,0 0 4T11 4T12 4T13 4T14 4T15 4Q14 1T15 2T15 3T15 4T15 Margem de refinação Benchmark benchmark refining ma
Slide 5: Portuguese Market Expands for the First Time Since 2005
PORTUGUESE MARKET EXPANDS FOR THE FIRST TIME SINCE 2005 5 Iberian Peninsula energy market Portugal Spain 12M2014 12M2015 Variação Variation 12M2014 12M2015 Variation Variação Diesel consumption maintains growth initiated 8.581 8.882 3,5% Oil products Produtos (1) petroliferos (1) 50.087 51.219 2,3%
Slide 6: Agenda
AGENDA 6 MARKET OPERATIONAL DATA RESULTS 12 months 2015 results
Slide 7: Production and Refining Hit Record
PRODUCTION AND REFINING HIT RECORD 7 Operational data 3T15 4T14 4T15 12M14 12M15 Increased production of FPSO Cidade de Paraty Average working Produção interest média production working interest mboepd 45,7 36,3 52,1 30,5 45,8 and FPSO Cidade de Mangaratiba underpin higher Angola mboepd 7,9 11,0 10,
Slide 8: Lula/Iracema: Productivity Supports Iracema Ramp-up
LULA/IRACEMA: PRODUCTIVITY SUPPORTS IRACEMA RAMP-UP 8 FPSO CIDADE DE MANGARATIBA (#3) FPSO CIDADE DE ITAGUAÍ (#4) (150 kbopd) (150 kbopd) Plateau production reached in 13 months, earlier than Start of production in July 2015, having reached initial forecas c.90 mbopd with three producer wells and th
Slide 9: Lula/Iracema: Imminent Entry of FPSO #5 into Production
LULA/IRACEMA: IMMINENT ENTRY OF FPSO #5 INTO PRODUCTION 9 FPSO CIDADE DE MARICÁ (#5) (150 kbopd) 10 wells already drilled in the Lula Alto area Unit expected to reach plateau production in 2017 Connection of the first producer well underway 12 months 2015 results
Slide 10: Lula/Iracema: Execution of FPSO #6 According to Plan
LULA/IRACEMA: EXECUTION OF FPSO #6 ACCORDING TO PLAN 10 FPSO CIDADE DE SAQUAREMA (#6) (150 kbopd) Final integration works of FPSO underway at the Brasa Start of production in the Lula Central area is expected to shipyard, in Brazil take place in the middle of the year 12 months 2015 results
Slide 11: De-risking Activities in Other Projects in Brazil
DE-RISKING ACTIVITIES IN OTHER PROJECTS IN BRAZIL 11 CARCARÁ BM-S-8 BM-S-24 POTIGUAR Carcará North and NW confirmed DoC1 of Sépia East submitted Pitú North well confirms extension discovery of light oil and extension in November 2015 of discovery of Pitú of discovery Sépia Leste subject to unitisati
Slide 12: Projects in Africa Proceed
PROJECTS IN AFRICA PROCEED 12 ANGOLA MOZAMBIQUE Lianzi initiated production in October 2015 Development of a robust and competitive FLNG solution for the Coral field Drilling activities underway at the Kaombo area Unitisation agreement with reference to the Mamba and Focus on reduction of costs and
Slide 13: Downstream and Gas: Solid Performance
DOWNSTREAM AND GAS: SOLID PERFORMANCE 13 R&M G&P Refining base with high availability and reliability Sales to direct clients stable, benefiting from higher during 2015 demand from the electricity sector Business performance benefited from market Robust trading activity, supported by structured GNL
Slide 14: Agenda
AGENDA 14 MARKET OPERATIONAL INFORMATION RESULTS 12 months 2015 results
Slide 15: Integrated Business and Exports Support EBITDA of €1,564 Million
INTEGRATED BUSINESS AND EXPORTS SUPPORT EBITDA OF €1,564 MILLION 15 Income Statement (€ Million) 3T15 4T14 4T15 12M14 12M15 Operating results benefited from improved European refining margins and distribution activity and from Volume Turnover de Negócios 3.906 4.470 3.435 17.904 15.517 the growth of
Slide 16: International Activity Accounts for More Than Half of the Results
INTERNATIONAL ACTIVITY ACCOUNTS FOR MORE THAN HALF OF THE RESULTS 16 Ebitda generated abroad More than half of Ebitda generated outside of Iberia Oil production is the main source of international 47% growth 53% 12M2015 Iberia International 12 months 2015 results
Slide 17: Exports Drive Results
EXPORTS DRIVE RESULTS 17 Evolution of exports (€ Million) 4.500 9% 10% Exports increase 37% in volume 4.000 3.500 7% 8% 7% 7% Exports of oil products 3.000 2.500 5% 6% 6% represent 7% of national total 2.000 4% 4% 1.500 4.153 3.230 3.198 Diesel, gasoline and fuel were the most exported 1.000 1.253 1
Slide 18: E&P Absorbs 86% of Total Investment
E&P ABSORBS 86% OF TOTAL INVESTMENT 18 Investment allocation profile (€ Million) More than 90% of the investment in E&P is applied 1.161 1.283 to development activities – construction of FPSO 4 7 65 units and development of the Lula/Iracema fields, 29 110 108 in Brazil, and block 32, in Angola Inves
Slide 19: Financial Structure Suited to Growth Programme
FINANCIAL STRUCTURE SUITED TO GROWTH PROGRAMME 19 Balance Sheet (€ Million) Dez 2014 Set 2015 Dez 2015 vs dez 14 vs set 15 Investments underway responsible for more Ativoassets Fixed fixo 7.599 7.638 7.877 278 239 than 20% of fixed assets Fixed assets in em Imobilizado progress curso 1.768 2.093 2.0
Slide 20: Brand Repositioning Campaign
20 Brand Repositioning Campaign 12 months 2015 results
Slide 21: Revealing a New Galp
21 REVEALING A NEW GALP Objectives To align brand strategy with the company's strategy Ensure change in brand perceptions : • Integrated energy operator from Upstream to Lifestream • From a national origin, to a global brand • Close to its consumers and the communities where it is present Align the
Slide 22: Visual Identity and Positioning
22 VISUAL IDENTITY AND POSITIONING A new brand image Respect the past and launch the future Add innovation, contemporaneity, enthusiasm and dynamics to the brand Further develop a visual discourse on the exploration of new thematic universes 12 months 2015 results
Slide 23: Energy Creates Energy
23 VISUAL IDENTITY AND POSITIONING A new positioning energy creates energy 12 months 2015 results
Slide 24: Media Relations
24 Media Relations +351 217 242 680 +351 961 773 444 (24 hours) http://press.galpenergia.com galp.press@galpenergia.com 12 months 2015 results