Fuji Oil Co. Ltd. · TSE:2607
Fuji Oil — AOC Holdings — FY2009 Earnings Presentation
20 slides from Fuji Oil's earnings presentation, May 2010
Slide 1: AOC Holdings, Inc. (TSE:5017)
AOC Holdings, Inc. 䠄TSE:5017) www.aochd.co.jp/e 1
Slide 2: Chapter I: Consolidated Financial Results for FY2009 and Forecast for FY2010
Chapter I Consolidated ConsolidatedFinancial FinancialResults Resultsfor forFY2009 FY2009andand Forecast Forecaston onConsolidated ConsolidatedFinancial FinancialResults Resultsfor forFY2010 FY2010 2 2
Slide 3: Consolidated Financial Results for FY2009 and FY2008
Consolidated ConsolidatedFinancial FinancialResults Resultsfor forFY2009 FY2009and andFY2008(April-March) FY2008(April-March) FY2009 FY2008 Change 䠄¥Billion䠅 $69.6/Bbl ￥93/$ $81.8/Bbl ￥101/$ - $12.2/Bbl -￥8/$ Down- Down- Down- Upstream stream Total Upstream stream Total Upstream stream Total (%) Net
Slide 4: Sales Volume and Prices of Crude Oils
Sales SalesVolume Volumeand andPrices PricesofofCrude CrudeOils Oils Sales Volume (Thousand Bbls/day) Sales Prices ($/Bbl) FY2009 FY2008 Change(%) FY2009 FY2008 Crude Oil Sales and Purchase Agreement 81.4 99.4 -18.1 Khafji crude oil 77.6 94.5 -17.9 68.17 77.68 Hout crude oil 3.8 4.9 -22.4 67.82 81.6
Slide 5: Sales Volume of Petroleum Products
Sales SalesVolume VolumeofofPetroleum PetroleumProducts Products （Thousand Kiloliters） FY2009 FY2008 Change(%) Gasoline 1,907 1,863 2.4 Naphtha 356 314 13.4 Jet fuel 1,137 1,323 -14.1 Kerosene 186 232 -19.8 Diesel fuel (Gas oil) 1,310 1,510 -13.2 Heavy fuel oil A 154 193 -20.2 Heavy fuel oil C 640 1
Slide 6: Net Sales and Operating Income by Segment
Net Netsales salesand andOperating OperatingIncome Incomeby bysegment segment FY2009 FY2008 Change 䠄¥Billion䠅 Oil / Gas Oil Oil / Gas Oil Oil / Gas Oil Development and Refinery and Development and Refinery and Development and Refinery and Sales Sales Sales Sales Sales Sales Net Sales 188.8 404.9 288
Slide 7: Breakdown of Non-operating Income/Expenses and Extraordinary Income/Loss
Breakdown BreakdownofofNon-operating Non-operatingIncome/Expenses Income/Expensesand and Extraordinary ExtraordinaryIncome/Loss Income/Loss Non-operating Income/Expenses (¥Million) FY2009 FY2008 Change Non-operating Income 1,296 6,182 -4,886 Interest and Dividends 667 2,534 -1,866 Equity in earnings
Slide 8: Increase and Decrease in Consolidated Balance Sheet
Increase Increaseand andDecrease Decreasein inConsolidated ConsolidatedBalance BalanceSheet Sheet Mar. 31, Mar. 31, 䠄¥Billion䠅 Change Factors of Increase / Decrease 2010 2009 Current assets 188.1 167.5 20.5 Accounts receivable-trade +27.2 Inventories +9.8 Noncurrent assets 188.0 185.3 2.6 Property,
Slide 9: Consolidated Statements of Cash Flows
Consolidated ConsolidatedStatements StatementsofofCash CashFlows Flows 䠄¥Billion䠅 FY2009 FY2008 Major Factors in FY2009 Depreciation +¥12.9 Loss before income tax -¥8.0 Net cash provided by (used in) operating Increase of accounts receivable-trade -41.0 19.7 activities -¥27.2 Increase of inventories
Slide 10: Forecast on Sales of Crude Oils and Petroleum Products for FY2010
Forecast Forecaston onSales SalesofofCrude CrudeOils Oilsand andPetroleum PetroleumProducts Productsfor forFY2010 FY2010 Crude Oil (Thousand Barrels/day) FY2010(Plan) FY2009(Actual) Change（%） Khafji crude oil 40.0 77.6 -48.4 Hout crude oil － 3.8 － Nanhai Medium crude oil － 0.4 － Norwegian North Sea
Slide 11: Forecast on Consolidated Profit and Loss for FY2010
Forecast Forecaston onConsolidated ConsolidatedProfit Profitand andLoss Lossfor forFY2010 FY2010 FY2010 FY2009 Change 䠄¥Billion䠅 $75.0/Bbl ￥90/$ $69.6/Bbl ￥93/$ $5.4/Bbl -￥3/$ Down- Down- Down- Upstream stream Total Upstream stream Total Upstream stream Total (%) Net Sales 101.0 456.0 557.0 189.8 40
Slide 12: Chapter II: The Medium-Term Business Plan (FY2010-FY2012)
Chapter Ⅱ The TheMedium-Term Medium-TermBusiness BusinessPlan Plan (FY2010-FY2012) (FY2010-FY2012) 12
Slide 13: Basic Policy for Medium-Term Business Plan
Basic BasicPolicy Policyfor forMedium-Term Medium-TermBusiness BusinessPlan Plan Business Environment Crude oil and petroleum product prices will stay steady Petroleum product demand is firm in Asia while domestic demand is on a declining trend Management Vision ・Revitalizing the business and restru
Slide 14: Business Plan for Upstream
Business BusinessPlan Planfor forUpstream Upstream Reestablish profit base by effective utilization of technological capabilities and human resources developed through overseas operations Revitalize its business and restructure the base of profitability by means of utilizing to the maximum extent
Slide 15: Business Plan for Downstream
Business BusinessPlan Planfor forDownstream Downstream Flexible and agile utilization of state-of- the-art facilities Continuing improvement of systems for safe operation and environment preservation Reinforce profit base by flexible and agile operation of state-of-the-art facilities Improve sys
Slide 16: Investment Plan
Investment InvestmentPlan Plan Upstream ¥25 Billion （¥Billion） FY2010 FY2011 FY2012 Subtotal FY2013-2014 Total Planed Projects 6.5 5.5 3.5 15.5 0.0 15.5 Norway 5.5 1.0 1.5 8.0 0.0 8.0 Egypt 1.0 4.5 2.0 7.5 0.0 7.5 New Projects 0.5 2.5 2.5 5.5 4.0 9.5 Total 7.0 8.0 6.0 21.0 4.0 25.0 Downstream ¥6 Bil
Slide 17: Forecast on Sales of Crude Oils and Petroleum Products
Forecast Forecaston onSales SalesofofCrude CrudeOils Oilsand andPetroleum PetroleumProducts Products Crude Oil (Thousand Barrels/day) FY2010 FY2011 FY2012 FY2013 FY2014 Khafji Crude Oil 40.0 40.0 40.0 40.0 40.0 Equity Crude Oil 1.6 5.2 5.3 5.6 4.8 Norway 1.5 4.7 3.5 2.9 2.1 Egypt - - 0.8 1.2 1.1 New
Slide 18: Forecast on Consolidated Financial Results (FY2010-FY2012)
Forecast Forecaston onConsolidated ConsolidatedFinancial FinancialResults Results(FY2010-FY2012) (FY2010-FY2012) ～Over 10 billion yen ordinary income in FY2012 Over ～ FY2012～ (¥Billion) FY2010 FY2011 FY2012 Crude Oil (Dubai） $75.0/Bbl ￥90/$ $75.0/Bbl ￥90/$ Differential (AL-AH) $3.0/Bbl $ 4.0/Bbl Up
Slide 19: Forecast on Consolidated Cash Flows (FY2010-FY2012)
Forecast Forecaston onConsolidated ConsolidatedCash CashFlows Flows(FY2010-FY2012) (FY2010-FY2012) Debt for Capex in Upstream -12.0 Repayment of debt in \Billion 120.0 Downstream 74.0 Changes in working 100.0 capital 28.5 Decrease of interest-bearing debt 80.0 62.0 Depreciation 60.0 49.0 Capital inv
Slide 20: AOC Holdings, Inc.
AOC AOCHoldings, Holdings,Inc. Inc. 䠄TSE:5017) 䠄TSE:5017) 䕔 Cautions with respect to Forward-Looking Statement 䕔 The financial forecasts, management targets, and any other estimates and projections of the Company presented in this report are based on information available to the management as of the