Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q4 2010 Earnings Presentation
19 slides from Lyondellbasell Industries Nv's earnings presentation, Feb 18, 2011
Slide 1: Fourth-Quarter 2010 Earnings
Fourth-Quarter 2010 Earnings Jim Gallogly, Chief Executive Officer Kent Potter, Chief Financial Officer Sergey Vasnetsov, SVP - Strategic Planning and Transactions February 18, 2011
Slide 2: Cautionary Statement
2 Fourth-Quarter 2010 Earnings Cautionary Statement The information in this presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating re
Slide 3: Information Related to Financial Measures
3 Fourth-Quarter 2010 Earnings Information Related to Financial Measures In this presentation, we have used non-GAAP financial measures, as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. These non-GAAP financial measures should be considered as a supplement to, and
Slide 4: Highlights
4 Fourth-Quarter 2010 Earnings Highlights 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 East 390 537 783 526 640 1403 1230 764 Quarterly EBITDA(R) (2) Jan 2009 - Dec 2010 1) Represents a combination of predecessor (January 1, 2010 - April 30, 2010) and successor (May 1, 2010 - December 31, 2010) periods.
Slide 5: LyondellBasell Safety Performance
5 Fourth-Quarter 2010 Earnings LyondellBasell Safety Performance Employee full year injury rate declined 41% from 2009 Contractor safety performance has improved following mid-year meetings 4Q10 rate: 0.39 December 2010: Best monthly safety performance since January 2008
Slide 6: 2010 Accomplishments
6 Fourth-Quarter 2010 Earnings Smooth emergence from Chapter 11 $3 billion cash generation since emergence Streamlined corporate structure SEC registration and NYSE listing Supervisory Board formed $1.2 billion debt repayment ahead of expected timeline Finance and Legal 2010 Accomplishments Increase
Slide 7: Key Volumes and Margins - 2008 - 2010
7 Fourth-Quarter 2010 Earnings Key Volumes and Margins - 2008 - 2010 HRO Volumes PE Volumes PP Volumes Maya 2-1-1 Spreads PE Spreads PP Spreads Ethylene Volumes Ethylene Plant Cash Margins 2008 2009 2010 PO&D Volumes Intermediates Volumes
Slide 8: Fourth-Quarter and Full-Year 2010 Segment EBITDA(R)
8 Fourth-Quarter 2010 Earnings LyondellBasell Fourth-Quarter and Full-Year 2010 Segment EBITDA(R) 2010 EBITDA(R) 2010 EBITDA(R) (2), (3) $4,035 million ex $42 million LCM charge 2010 Operating Income (2), (3) $2,944 million 4Q10 EBITDA (1) $762 million ex $323 million LCM charge reversal 4Q10 Operat
Slide 9: Cash Flow Since Emergence
9 Fourth-Quarter 2010 Earnings Cash Flow Since Emergence 1) Includes inventories, accounts payable, and accounts receivable. 2) Includes capital and maintenance turnaround spending. (2) (1)
Slide 10: Working Capital and Liquidity
10 Fourth-Quarter 2010 Earnings Working Capital and Liquidity Working Capital (1) Liquidity Snapshot at Dec. 31, 2010 Liquidity: ~ $6.1 billion Net Debt: ~ $1.9 billion 1) Beginning in the second quarter 2010, working capital accounts reflect the impact of reorganization and fresh-start accounting a
Slide 11: Olefins & Polyolefins - Americas
11 Fourth-Quarter 2010 Earnings Olefins & Polyolefins - Americas 2010 EBITDA(R) 2010 EBITDA(R) (2), (3) $1,719 million ex $34 million LCM charge 2010 Operating Income (2), (3) $1,363 million 1) EBITDA excludes reversal of $163 million of prior period LCM charges. 2) Represents a combination of prede
Slide 12: Olefins & Polyolefins - Americas Highlights and Business Drivers - 4Q10
12 Fourth-Quarter 2010 Earnings Olefins & Polyolefins - Americas Highlights and Business Drivers - 4Q10 Fourth-Quarter 2010 Results $342 million EBITDA excluding $163 million LCM charge reversal U.S. Olefins Margins relatively unchanged ~75% of ethylene from NGLs Polyethylene Seasonal demand decline
Slide 13: Olefins & Polyolefins - Europe, Asia, International
13 Fourth-Quarter 2010 Earnings 1) EBITDA excludes reversal of $10 million of a prior period LCM charge. 2) Represents a combination of predecessor (January 1, 2010 - April 30, 2010) and successor (May 1, 2010 - December 31, 2010) periods. 3) For periods prior to May 1, 2010, operating income and EB
Slide 14: Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 4Q10
14 Fourth-Quarter 2010 Earnings Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 4Q10 Fourth-Quarter 2010 Results $115 million EBITDA excluding $10 million LCM charge reversal Indicative Margins (per CMAI) EU Olefins Margin compression on rising naphtha costs Pol
Slide 15: Intermediates & Derivatives Highlights and Business Drivers - 4Q10
15 Fourth-Quarter 2010 Earnings Intermediates & Derivatives Highlights and Business Drivers - 4Q10 Propylene Oxide and Derivatives Lower volumes driven by seasonality and turnaround activity Steady raw material margins Intermediates Lower margins due to rising raw material costs Sale of Flavors & Fr
Slide 16: Refining & Oxyfuels
16 Fourth-Quarter 2010 Earnings Refining & Oxyfuels 2010 EBITDA(R) 2010 EBITDA(R) (2), (3) $452 million 2010 Operating Income (2), (3) $142 million 4Q10 EBITDA (1) $79 million ex $133 million LCM charge reversal 4Q10 Operating Income $144 million Fourth-Quarter 2010 EBITDA (4) 1) EBITDA excludes $13
Slide 17: Refining & Oxyfuels Highlights and Business Drivers - 4Q10
17 Fourth-Quarter 2010 Earnings Refining & Oxyfuels Highlights and Business Drivers - 4Q10 Spreads (per Platts) Fourth-Quarter 2010 Results $79 million EBITDA excluding $133 million LCM charge reversal Houston Refining Crude throughput: 233 MB/D Maya 2-1-1 spread: $18.38/bbl Unplanned refinery and c
Slide 18: Technology Highlights and Business Drivers - 4Q10
18 Fourth-Quarter 2010 Earnings Technology Highlights and Business Drivers - 4Q10 Seasonally lower catalyst volumes and licensing results Results negatively impacted by $17 million LIFO inventory adjustment 2010 EBITDA(R) (1), (2) $212 million Operating Income (1), (2) $108 million Brindisi, Italy F
Slide 19: Fourth-Quarter Summary and Outlook
19 Fourth-Quarter 2010 Earnings Fourth-Quarter Summary and Outlook Continued advantaged U.S. ethane position European olefins prices have risen; re-establishing mid-2010 margins SEPC JV initiated dividend payment Recovery of oxyfuel margins from seasonal winter lows Improving operations at the Houst
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