Saudi Arabian Oil Co. · TADAWUL:2222
Saudi Arabian Oil — Q1 2023 Earnings Presentation
13 slides from Saudi Arabian Oil's earnings presentation, May 9, 2023
Slide 1: Q1 2023 Results
Q1 2023 Results May 9, 2023 Saudi Aramco Q1 2023 Results | ‹#› Saudi Aramco: Company General Use
Slide 2: Cautionary notes
Cautionary notes This presentation may contain certain forward-looking statements with respect to The Saudi Arabian Oil Company’s ("Aramco" or the "Company" or "we") financial position, results of operations and business and certain of its plans, intentions, expectations, assumptions, goals and beli
Slide 3: Amin Nasser, President & CEO
Amin Nasser President & CEO Saudi Aramco Q1 2023 Results | ‹#› Saudi Aramco: Company General Use
Slide 4: Strong Q1 2023 performance
Strong Q1 2023 performance Continued high reliability, focus on costs and ability to react to market conditions Strong earnings, cash flows and balance sheet Confident in mid to long‐term oil demand; continuing to see industry under-investment in supply Strategy on track; good progress achieving oil
Slide 5: Ziad Al-Murshed, Executive Vice President & CFO
Ziad Al-Murshed Executive Vice President & CFO Saudi Aramco Q1 2023 Results | ‹#› Saudi Aramco: Company General Use
Slide 6: Investing in growth and capturing unique opportunities
Investing in growth and capturing unique opportunities Upstream oil and gas development • Upstream expansion plans on track • Haradh and Hawiyah compression projects progressed commissioning • Hawiyah gas plant expansion expected to be onstream in 2023 Downstream expansion and liquids-to-chemicals g
Slide 7: Q1 2023 operational and financial highlights
Q1 2023 operational and financial highlights Operational Financial Hydrocarbon production Net income Capital expenditure 1 mmboed $Bn $Bn 12.8 31.9 11.3 Q1 2022: 13.0 Q1 2022: 39.5 Q1 2022: 7.6 Supply reliability2 Dividends paid Free cash flow3 $Bn $Bn 99.7% 19.5 30.9 Q1 2022: 99.9% Q1 2022: 18.8 Q1
Slide 8: Financial results: Q1 2023 versus Q1 2022
Financial results: Q1 2023 versus Q1 2022 $Bn, unless otherwise indicated Q1 2022 Q1 2023 Key drivers Realized oil prices ($/bbl) 97.7 81.0 Lower crude oil prices Hydrocarbon production (mmboed1) 13.0 12.8 Stronger refining margins Weaker chemical margins Upstream EBIT 70.3 57.4 Downstream EBIT 10.2
Slide 9: Cash flow allocation priorities
Cash flow allocation priorities $ Sustaining capex R Sustainable and progressive dividend $ Growth investments Deleveraging and/or additional distributions Saudi Aramco Q1 2023 Results | 9‹#› Saudi Aramco: Company General Use
Slide 10: Introducing a mechanism for performance-linked dividends
Introducing a mechanism for performance-linked dividends1 Sustainable and progressive base dividend – increasing from $75bn to $78bn Features of performance-linked dividends • To be targeted in the amount of 50 – 70% of Aramco’s annual free cash flow, net of the base dividend and other amounts inclu
Slide 11: Maximizing shareholder value
Maximizing shareholder value Sustainable and progressive dividend provides long-term shareholder value Performance-linked dividends provide mechanism for additional distributions for years of strong performance Strong reinvestment in business combined with distributions to shareholders ‹#› Saudi Ara
Slide 12: Questions & Answers
Questions & Answers Saudi Aramco Q1 2023 Results | ‹#› Saudi Aramco: Company General Use
Slide 13: aramco
aramco
Saudi Arabian Oil Company (Aramco) — Q1 2023 Earnings Presentation on 6ix