LyondellBasell Industries NV · NYSE:LYB
LyondellBasell Industries NV — Q4 2015 Earnings Presentation
18 slides from LyondellBasell Industries NV's earnings presentation, Feb 2, 2016
Slide 1: Fourth Quarter 2015 Earnings
Fourth Quarter 2015 Earnings February 2, 2016
Slide 2: Cautionary Statement
Cautionary Statement 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 ris
Slide 3: Information Related to Financial Measures
Information Related to Financial Measures This presentation makes reference to certain “non-GAAP” financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. The non-GAAP measures we have presented include income from continuing operations excluding LCM, di
Slide 4: LyondellBasell in 2015
LyondellBasell in 2015 SHAREHOLDER RETURN EARNINGS CASH FLOW RETURNS MEASURES Diluted EPS Cash from Dividends Return on ex. LCM(1) Operations $1.4 Billion Invested Capital $10.35 $5.8 Billion 3.6% Dividend Yield 34% Top 16% of the S&P 500 EBITDA ex. LCM Free Cash Flow Share Repurchases Total Shareho
Slide 5: LyondellBasell Safety Performance
LyondellBasell Safety Performance Safety - Injuries per 200,000 Hours Indexed Environmental Incidents Indexed Process Incidents Worked(1) 0.5 100% 100% 0.4 75% 75% 0.3 50% 50% 0.2 25% 25% 0.1 0.0 0% 0% 2009 2010 2011 2012 2013 2014 2015 2009 2010 2011 2012 2013 2014 2015 2009 2010 2011 2012 2013 201
Slide 6: Highlights
Highlights FY 2014 FY 2015 FY 2014 FY 2015 ($ in millions, except per share data) FY 2013 (1) (As Reported) (As Reported) (ex. LCM) (ex. LCM) EBITDA $6,311 $7,050 $7,533 $7,810 $8,081 Income from Continuing Operations $3,860 $4,172 $4,479 $4,655 $4,830 Diluted Earnings ($ / share) from Continuing Op
Slide 7: 2015 Accomplishments
2015 Accomplishments Financial Accomplishments Operating Accomplishments • Record earnings: EPS ex. LCM of • Strong Operations: • Growth Projects $10.35 – U.S. ethylene operating rate: 95% Completed 250 million pound per EU ethylene operating rate: 95%(1) year ethylene expansion • Generated $5.8
Slide 8: Key Volumes and Margins: 2012 - 2015
Key Volumes and Margins: 2012 - 2015 2012 2013 2014 2015 Ethylene Volumes Polyethylene Volumes Polypropylene Volumes I&D Chemical Volumes(1) HRO Crude Rates billion lbs billion lbs billion lbs billion lbs MBPD 10 12 300 15 10 (*) 8 10 240 12 8 6 7 9 6 180 4 5 6 4 120 2 3 2 2 60 0 0 0 0 0 US EU Index
Slide 9: Fourth Quarter 2015 and FY 2015 Segment EBITDA
Fourth Quarter 2015 and FY 2015 Segment EBITDA Fourth Quarter 2015 FY 2015 ($, millions) EBITDA Op. Income ($, millions) EBITDA Op. Income As Reported $1,394 $1,052 As Reported $7,533 $6,122 As Adjusted for LCM $1,678 $1,336 As Adjusted for LCM $8,081 $6,670 Fourth Quarter 2015 EBITDA FY 2015 EBITDA
Slide 10: Cash Flow
Cash Flow Q4 2015 FY 2015 USD, millions USD, millions 10,000 10,000 8,000 8,000 6,000 6,000 4,000 4,000 2,000 $3,524 2,000 $2,974 $2,375 $2,375 0 (1) (2) (3) (1) 0 4Q 2015 CF from Working Capex Dividends & Net Debt Other 4Q 2015 1Q 201 5 (1) CF from Working (2) Capex(3) Div idends & Net De bt Other
Slide 11: Strong Cash Generation, Share Repurchases & Dividends
Strong Cash Generation, Share Repurchases & Dividends Cash From Operations Dividends & Share Repurchases USD, millions USD, millions $7,000 $8,000 Capex Free Cash Flow Interim Dividends 6,000 Special Dividends Share Repurchases 6,000 5,000 4,000 4,000 3,000 2,000 2,000 1,000 2012 2013 2014 2015 2012
Slide 12: Olefins & Polyolefins – Americas Highlights and Business Drivers – 4Q'15
Olefins & Polyolefins – Americas Highlights and Business Drivers – 4Q’15 EBITDA Performance vs. 3Q’15(1) USD, millions EBITDA Margin Volume As Reported Excluding LCM $1,400 U.S. Olefins 1,200 • Ethylene margins down ~6 ¢/lb. 1,000 800 Polyethylene 600 • Margin up slightly 400 Polypropylene (includes
Slide 13: Olefins & Polyolefins – Europe, Asia, International Highlights and Business Drivers – 4Q'15
Olefins & Polyolefins – Europe, Asia, International Highlights and Business Drivers – 4Q’15 EBITDA Performance vs. 3Q’15(1) USD, millions EBITDA Margin Volume As Reported Excluding LCM EU Olefins $600 • Ethylene margin down ~13.5 ¢/lb. Volume up ~4% 500 Polyethylene 400 • Spread flat 300 • Volume up
Slide 14: Intermediates & Derivatives Highlights and Business Drivers – 4Q'15
Intermediates & Derivatives Highlights and Business Drivers – 4Q’15 EBITDA Performance vs. 3Q’15(1) USD, millions EBITDA Margin Volume As Reported Excluding LCM Propylene Oxide and Derivatives $600 • Margins lower due to sales mix 500 400 Intermediates • Lower Styrene and Methanol margin 300 • Volum
Slide 15: Refining Highlights and Business Drivers – 4Q'15
Refining Highlights and Business Drivers – 4Q’15 EBITDA Performance vs. 3Q’15(1) USD, millions EBITDA Margin Volume As Reported Excluding LCM Houston Refinery $200 • Maya 2-1-1: $18.55 per bbl, down 100 ~$4 from 3Q’15 • Crude throughput: 206 MBPD, down 43 MBPD from 3Q’15 -100 -200 -300 -400 4Q'14 1Q
Slide 16: Continued Strength Despite Macro Uncertainty
Continued Strength Despite Macro Uncertainty North America Spreads(1) Steady Growth in Global Polymer Demand ¢/Lb B Lbs 40 250 Ethylene Margin (Wtd. Average) PE Spread PP Spread PP PE 200 30 150 ’90 – ’14 PE: 4.4% 20 PP: 6.6% 100 10 ’11 – ’14 ’14 – ’15 50 PE: 3.4% PE: 4.4% PP: 4.3% PP: 5.0% 0 0 Q1'1
Slide 17: Fourth Quarter Summary and Outlook
Fourth Quarter Summary and Outlook Fourth Quarter Summary(1) Near-Term Outlook Ethylene industry conditions adjusted toward Volatility of oil and uncertainty of economic a balanced market picture makes forecasting difficult Planned maintenance during the quarter Crude oil price decline of th
Slide 18: Investor Reception 2016: Save the Date
Investor Reception 2016: Save the Date LyondellBasell will hold an Investor Reception on the evening of Wednesday March 16, 2016, after the first day of the IHS World Petrochemical Conference in Houston. This is a valuable opportunity to meet with members of our executive leadership team and have in
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