Pt Medco Energi Internasional Tbk · IDX:MEDC
Pt Medco Energi Internasional Tbk — 9M 2020 Earnings Presentation
16 slides from Pt Medco Energi Internasional Tbk's earnings presentation, 2020
Slide 1: 9M 2020 Company Results
9M 2020 Company Results PT Medco Energi Internasional Tbk (IDX Ticker: MEDC)
Slide 2: Contents
Contents Performance Summary COVID 19 - MedcoEnergi Response 3 9M 2020 Executive Summary 4 9M 2020 Financial Summary 5 9M 2020 Operational Summary 6 Financial Highlights 7 Business Guidance 2020 Guidance 8 What to Expect 2020-2021 11 Appendix Active Portfolio Management 12 Asset Portfolio 13 Oil and
Slide 3: COVID 19 - MedcoEnergi Response
COVID 19 - MedcoEnergi Response Prioritizing Health and Safety of Workforce and Communities WORK FORCE SAFETY COMMUNITY SUPPORT • No business impact from COVID-19, US$8 mn spending to • Donations to hospitals, community health centers and maintain business continuity clinics with COVID-19 testing eq
Slide 4: 9M 2020 Executive Summary
9M 2020 Executive Summary Consolidated EBITDA US$422 mn, down by 5% y-o-y Oil and gas prices down 37% and 25% respectively y–o-y Oil & Gas: Production 100 mboepd, flat y-o-y Successful exploration drilling in Natuna Block B and Ijen Geothermal Capex US$194 mn (Oil & Gas US$147 mn and Power US$47 mn)
Slide 5: 9M 2020 Financial Summary
9M 2020 Financial Summary • Consolidated EBITDA US$422 mn, down 5% y-o-y, due to cost efficiencies and Ophir Energy synergies offsetting the impacts of low energy demand. Energy demand and commodity prices2 impacted by Covid-19 pandemic with 37% drop in oil price and 25% drop in gas price. • Oil pri
Slide 6: 9M 2020 Operational Summary
9M 2020 Operational Summary • Oil and gas production 100 mboepd, within guidance, though gas demand continues to be significantly below normal pre Covid-19 pandemic levels • Unit cash costs US$7.6/boe, within guidance, despite additional costs to maintain business continuity and employee safety duri
Slide 7: Financial Highlights
Financial Highlights Consolidated EBITDA Growth (US$ mn) • 2020 EBITDA down only 5% y-o-y 68 63 63 despite lower energy demand and 49 42 52 40 falling prices1 826 • Oil prices recovered in Q3, gas 241 prices continued to fall, due to 585 660 585 433 contractual lagging price linkage 225 265 2015 201
Slide 8: 2020 Guidance: Production
2020 Guidance: Production Liquids Gas Fixed Priced Gas Indexed Priced Gas 9M 2020 Actual 115 • Production 100 mboepd within revised 100 - 105 100% guidance 102 100 • Q3 gas demand at TOPQ, significantly 30% below capacity to deliver and below 74 normal pre Covid-19 levels 63 60 67 • Hedged 8% of 202
Slide 9: 2020 Guidance: Expenditure
2020 Guidance: Expenditure 9M20 Actual Cash Cost/Unit 1, US$/boe • 9M capex US$194 mn, US$147 mn in Oil & Gas 103 and US$47 mn in Power 2 87 85 100 • Unit cash costs US$7.6/boe, within guidance, 66 <10 below y-o-y despite low demand and spending 8.7 8.7 9.3 8.1 7.6 2.2 to maintain business continuit
Slide 10: Commitment to deleverage
Commitment to deleverage Gross Debt (US$ mn) • Issued Q1 US$650 mn Notes to settle 2022 Notes call and 2021 maturities 62.5 62.5 38.7 39.5 • Retired 2022 US$400 mn Notes via 1H Tender Offer and Q3 Call 3,307 3,195 3,041 2,920 • Restricted Group Gross Debt US$2.5 bn, 2,698 2,471 2,657 2,542 down 6% y
Slide 11: What To Expect 2020-2021
What To Expect 2020-2021 Covid-19 Focus: Prioritizing Health and Safety and minimize business disruption Prudent liquidity and liability management Disciplined capital investment and portfolio management Operating and procurement synergies, cash costs < US$10/boe Complete Riau IPP, Bali & Sumbawa PV
Slide 12: Active Portfolio Management
Active Portfolio Management Closed and Integrated Value Adding Acquisitions Acquisitions have added value through enhanced scale, control and organizational competence. Acquisition targets are screened to ensure: • Improved MedcoEnergi credit status and profitability • Risks are manageable (knowledg
Slide 13: Asset Portfolio
Asset Portfolio Sinphuhorm Tanzania Yemen Thailand Laos Bualuang Vietnam Cambodia Chim Sao and Dua Malaysia Bengara PM322 Bangkanai Block A South Natuna Sea Block B North Tarakan Sokang Simenggaris Mexico Libya Oman Geothermal Sarulla South Sokang Donggi Senoro West Bangkanai LNG Singapore Riau IPP
Slide 14: Oil and Gas Statistics
Oil and Gas Statistics YoY Metrics 9M19 9M20 ∆% Net 2P Reserves, MMBOE Net Contingent Resources, MMBOE Productionº Oil, MBOPD 332 1,163 1,123 38.2 40.6 6.3 Gas, MMSCFD 340.9 319.3 (6.3) 287 Lifting/Sales 163 Oil Liftingº, MBOPD 37.7 38.9 3.2 149 Gas Sales, BBTUPD 321.2 299.8 (6.7) 1,047 1,019 Oman S
Slide 15: Financial Statistics (9M19 vs 9M20)
Financial Statistics (9M19 vs 9M20) Average Revenue Gross Profit EBITDA Realized Price Oil Incl. Incl. Incl. Price US$39.5 37% MPI US$793 18% MPI US$288 29% MPI US$422 5% /bbl million million million Excl. Excl. Excl. Gas US$5.1 US$681 US$241 US$389 Price /MMBTU 25% MPI million 20% MPI million 35% M
Slide 16: Executive Summary
Executive Summary PT Medco Energi Internasional Tbk. The Energy Building 53rd Floor SCBD Lot 11A Jl. Jend. Sudirman, Jakarta 12190 Indonesia P. +62-21 2995 3000 F. +62-21 2995 3001 Email: investor.relations@medcoenergi.com Website : www.medcoenergi.com
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