Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q3 2010 Earnings Presentation
19 slides from Lyondellbasell Industries Nv's earnings presentation, Oct 29, 2010
Slide 1: Third-Quarter 2010 Earnings
Third-Quarter 2010 Earnings Jim Gallogly, Chief Executive Officer Kent Potter, Chief Financial Officer Sergey Vasnetsov, Senior Vice President - Strategic Planning and Transactions October 29, 2010
Slide 2: Disclaimer and Notice
Disclaimer and Notice The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management which are believed to be reasonable at the time made, and are subject to significant r
Slide 3: Third-Quarter Highlights
Third-Quarter Highlights Net income: $467 million; Earnings per share: $0.84 EBITDA: $1,230 million excluding $32 million Lower of Cost or Market (LCM) inventory valuation adjustment Generally steady business conditions Global Olefins & Polyolefins results in line with strong second quarter Net Debt
Slide 4: LyondellBasell Safety Performance 2003-2010
LyondellBasell Safety Performance 2003-2010
Slide 5: Third-Quarter and Year-to-Date 2010 Segment EBITDA(R)
LyondellBasell Third-Quarter and Year-to-Date 2010 Segment EBITDA(R) Year-to-Date 2010 EBITDA(R) YTD EBITDA(R) (2), (3) $3,273 ex LCM charge YTD Operating Income (2), (3) $2,100 million 3Q10 EBITDA (1) $1,230 million ex LCM charge 3Q10 Operating Income $988 million Third-Quarter 2010 EBITDA 1) EBITD
Slide 6: Third-Quarter Cash Flow
Third-Quarter Cash Flow 1) Includes inventories, accounts payable, and accounts receivable. 2) Includes capital and maintenance turnaround spending. (2) (1)
Slide 7: Working Capital and Liquidity
Working Capital and Liquidity Working Capital (1) Liquidity September 30 Statistics Liquidity: ~ $6.1 billion Net Debt: ~ $2.5 billion 1) Beginning in the second quarter 2010, working capital accounts reflect the impact of reorganization and fresh-start accounting adjustments.
Slide 8: Reduced Expenses Since Emergence
Interest Expense Depreciation Expense Cash Fixed Costs Pre-Chapter 11 2407 1911 4557 Post-Chapter 11 730 837 3500 ^= $1.7 billion ^= $1.1 billion (2) (3) (1) Reduced Expenses Since Emergence 1) Pre-chapter 11 refers to 2008 net interest expense. Post-chapter 11 refers to annualized May 2010 - Septem
Slide 9: Olefins & Polyolefins - Americas
Olefins & Polyolefins - Americas Year-to-Date 2010 EBITDA(R) YTD EBITDA(R) (2), (3) $1,377 million ex LCM charges YTD Operating Income (2), (3) $917 million 1) EBITDA excludes an LCM charge of $26 million. 2) Represents a combination of predecessor (January 1, 2010 - April 30, 2010) and successor (M
Slide 10: Olefins & Polyolefins - Americas Highlights and Business Drivers - 3Q10
Olefins & Polyolefins - Americas Highlights and Business Drivers - 3Q10 Indicative Margins (per CMAI) Third-Quarter 2010 Results $518 million EBITDA excluding $26 million LCM charge U.S. Olefins Margins declined as market balanced from Q2 tightness Ethane remained advantaged ~70% of ethylene from NG
Slide 11: Olefins & Polyolefins - Europe, Asia, International
(4) (5) Olefins & Polyolefins - Europe, Asia, International Year-to-Date 2010 EBITDA(R) YTD EBITDA(R) (2), (3) $703 ex LCM charges YTD Operating Income (2), (3) $460 million 3Q10 EBITDA (1) $294 million ex LCM charge 3Q10 Operating Income $231 million Third-Quarter 2010 EBITDA 1) EBITDA excludes an
Slide 12: Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 3Q10
Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 3Q10 Third-Quarter 2010 Results $294 million EBITDA excluding $5 million LCM charge Indicative Margins (per CMAI) EU Olefins Butadiene strength Competitor outages Polyethylene Higher volumes, slightly lower margins
Slide 13: Intermediates & Derivatives Highlights and Business Drivers - 3Q10
Intermediates & Derivatives Highlights and Business Drivers - 3Q10 Propylene Oxide and Derivatives Increased volumes and margins Strong derivative results Intermediates Negatively impacted by unplanned ethylene oxide plant downtime Year-to-Date EBITDA(R) (2), (3) $648 million ex LCM charge Operating
Slide 14: Refining & Oxyfuels
Refining & Oxyfuels Year-to-Date 2010 EBITDA(R) YTD EBITDA(R) (2), (3) $373 million ex LCM charge YTD Operating Loss (2), (3) $2 million 3Q10 EBITDA (1) $141 million ex LCM charge 3Q10 Operating Income $83 million Third-Quarter 2010 EBITDA (4) (5) 1) EBITDA excludes an LCM charge of $1 million. 2) R
Slide 15: Refining & Oxyfuels Highlights and Business Drivers - 3Q10
Refining & Oxyfuels Highlights and Business Drivers - 3Q10 Spreads (per Platts) Third-Quarter 2010 Results $141 million EBITDA excluding $1 million LCM charge Houston Refining Crude throughput: 261 MB/D Maya 2-1-1 spread: $16.14/bbl Increased volumes partially offset lower margins Berre Refining Cru
Slide 16: Technology Highlights and Business Drivers - 3Q10
Technology Highlights and Business Drivers - 3Q10 Continued strong catalyst volumes Improved licensing results Year-to-Date EBITDA(R) (1), (2) $168 million Operating Income (1), (2) $100 million Brindisi, Italy Third-Quarter 2010 Results $78 million EBITDA $38 million Operating Income 1) Represents
Slide 17: Third-Quarter Summary and Outlook
Third-Quarter Summary and Outlook Overall positive conditions continued into October Expect some seasonal decline Fourth quarter typically weaker than second and third quarters Operating Outlook French refinery and olefins facilities impacted in late October by national strikes Moderate impact from
Slide 18: Appendix
Appendix lyondelibasell.com ‘Third-Quarter 2010 Earnings lyondellbasel| 18
Slide 19: Reconciliations of non-GAAP Financial Measures
Reconciliations of non-GAAP Financial Measures For reconciliations of non-GAAP financial measures, please see Table No. 9 of our earnings release which is available on our website, www.lyondellbasell.com/investorrelations
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