Petroleo Brasileiro Sa · BMFBOVESPA:PETR3
Petroleo Brasileiro Sa — Q4 2024 Earnings Presentation
17 slides from Petroleo Brasileiro Sa's earnings presentation, Feb 27, 2025
Slide 1: Performance in 2024
FPSO Marechal Duque de Caxias 1st oil in October 2024 Performance in 2024 — Webcast February 27, 2025
Slide 2: Disclaimer
Disclaimer — The presentation may contain forward- political, economic and social developments, looking statements about future events that receipt of governmental approvals and are not based on historical facts and are not licenses and our ability to obtain financing. assurances of future results.
Slide 3: CEO Message
CEO Message — FPSO Almirante Tamandaré 1st oil in February 2025 3
Slide 4: 2024 Financial Highlights
2024 Financial Highlights — Fernando Melgarejo CFO Revap
Slide 5: Financial health and commitment to investments
Financial health and commitment to investments — Petrobras showed strong cash generation, commitment to investments, and the lowest financial debt since 2008 OCF 2024 EBITDA 2024 US$ 38.0 US$ 40.4 billion billion INVESTMENTS 2024 NET INCOME 2024 US$ 16.6 US$ 7.5 billion billion FINANCIAL DEBT2024 US
Slide 6: Three main factors led to the decrease in profit this year
Three main factors led to the decrease in profit this year — Impact of FX variation, external environment and tax transaction Results without One-off Events US$ billion 25.9 Results without One-off 1.0 Events1 19.4 One-off Events -10.9 -10,9 One-off Net Profit 11.9 Events1 24.9 24,9 -6,5 -6.5 -2.7 -
Slide 7: Exchange rate variation: an accounting event, with no cash and equity effect
Exchange rate variation: an accounting event, with no cash and equity effect — The result was primarily affected by expenses related to exchange rate variation on debts between Petrobras and its oversees subsidiaries DEBT BETWEEN END OF PERIOD COMPANIES IN THE REASONS WHY EXCHANGE RATE PETROBRAS SYS
Slide 8: External environment
External environment — Depreciation of Brent and diesel crack Average Brent Average Crackspread Diesel US$/bbl US$/bbl -2% 40 35.53 80 82.62 80.76 -39% 70 30 21.74 60 20 2023 2024 2023 2024 8
Slide 9: The tax transaction agreement was positive for Petrobras
Edifício Senado The tax transaction agreement was positive for Petrobras — Impact of US$2.7 billion on the result • Exclusive event of Q2 2024 • Decision that ended legal disputes amounting to R$ 45 billion, that posed great uncertainty to the company’s cash position • Relatively minor effect on cas
Slide 10: Lowest level of financial debt since 2008
Replan Lowest level of financial debt since 2008 — US$ billion 75.5 63.2 62.6 60.3 Leasing 58.7 21.7 53.8 47.6 44.7 Financial Debt 41.5 23.0 52.2 23.8 33.8 Net Debt 37.1 Gross Debt 53.9 35.7 30.0 28.8 23.2 2020 2021 2022 2023 2024 Average debt maturity 11.7 13.4 12.1 11.4 12.5 (anos) Spread to the U
Slide 11: Commitment to Capex projection and production curve
Commitment to Capex projection and productin curve — CAPEX US$ billion 31% increase 15% higher than Petrobras expected Alignment of +31% 16.6 compared to 2023, the August 2024 the reduction of this incentives is crucial 12.6 driven by pre-salt guidance, due to mismatch for the start of projects such
Slide 12: Commitment to distributing the results generated
Commitment to distributing the results generated — We keep the financial sustainability of the Company with gross debt under control and within the Business Plan range SHAREHOLDER REMUNERATION DIVIDENDS + INTEREST 2024 SHARE BUYBACK* (45% x FCF) ON CAPITAL R$ 75.8 billion R$ 1.9 billion R$ 73.9 bill
Slide 13: Contribution to society in 2024
Contribution to society in 2024 — • Petrobras invested R$ 91 billion (Capex US$ 16.6 billion) • These investments were responsible for sustaining 250,000 jobs • Petrobras' investment represented 5% of Brazilian investment • OPEX for 2024 was R$ 350 billion, supporting more than 2 million jobs • We p
Slide 14: Our Vision for 2025
OUR Vision for 2025 — Cenpes
Slide 15: Vision 2025
Vision 2025 — Three new production system in 2025: FPSO Almirante Tamandaré (Búzios), FPSO Alexandre de Gusmão (Mero) and P-78 (Búzios), with a total added capacity of 585 kbpd Ramp up of the two systems that started at the end of 2024: FPSO Maria Quitéria and FPSO Mal Duque de Caxias Production cur
Slide 16: Vision 2025
Vision 2025 — Increase in capacity and improvement in quality: Revamp of Rnest’s Train 1: +15kbpd of processing capacity New HDT Replan: +63 kbpd of Diesel S-10 2nd module of the UPGN at Boaventura Complex: +10.5 million m3/day Fleet expansion We are expanding our fleet of ships and Maritime Support
Slide 17: Q&A Session
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