Dana Gas PJSC · ADX:DANA
Dana Gas PJSC — FY2020 Earnings Presentation
17 slides from Dana Gas PJSC's earnings presentation, Feb 11, 2021
Slide 1: Clean Energy for the Future: FY 2020 Financial Results
Clean Energy for the Future FY 2020 –Financial Results 11 February 2021 1
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo
Slide 3: Contents
Contents 1 Highlights 2 Operational Update 3 Financial Update 4 Summary 3
Slide 4: 1. Highlights
1. Highlights 4
Slide 5: Snapshot – FY 2020
Snapshot – FY 2020 Operations Financials Resilient operational performance in 2020 Net Profit of $36m before one-off impairments The sale of Egypt mature onshore assets to IPR despite steep decline in energy prices Energy in Q4 – Expected close in H1 • Including impairments, Net Loss of $376m
Slide 6: 2. Operation Update
2. Operation Update 6
Slide 7: Production (boepd) & Realized Prices (USD/boe)
Production (boepd) & Realized Prices ( USD/boe) Average production FY 2020 vs FY 2019 Average production Q4 2020 vs Q4 2019 FY 2019 62,200 63,600 Q4 2019 66,200 63,200 FY 2020 Q4 2020 33,250 31,000 29,700 30,600 33,000 31,500 32,250 30,300 600 650 1,000 0 700 650 Group Egypt KRI EBGDCO Group Egypt K
Slide 8: Egypt Update
Egypt Update Operations Operations continued as normal Health and safety measures brought in; no COVID cases reported. Production decreased 8% to 30,300 boepd in FY 2020 (143 MMscf of gas; 3980 bbl/d of condensate and 211 MTPD of LPG) Sale of Dana Gas onshore assets to IPR Energy Transaction
Slide 9: KRI: Energising the country
KRI: Energising the country Ambitious programme to increase daily production to 900 MMscf and 35,000 bbl Operations Operations continued as normal Reached record gas production of 440 MMscf following the completion of the bypass project at Kor Mor plant Production rose 9% in Q4, and 2% in FY 2
Slide 10: Arbitration Update
Arbitration Update UAE Gas Project In 2014 Arbitration Award was found in favor of Crescent Petroleum (Dana Gas partner) on all issues In October 2017 Tribunal indicated final judgement on the amount of damages (to cover the period from 2005-2014) would likely be delivered in second half of 2018
Slide 11: 3. Financial Update
3. Financial Update 11
Slide 12: Financial Highlights
Financial Highlights Gross Revenue ($mm) EBITDA ($mm) 500 459 341 300 400 349 300 200 146 200 245 96 295 87 102 100 69 227 35 46 100 77 16 19 27 19 122 164 59 64 0 28 38 0 FY 2020 FY 2019 Q4 2020 Q4 2019 FY 2020 FY 2019 Q4 2020 Q4 2019 Continued operations Discontinued operations Total Continued ope
Slide 13: CAPEX & OPEX
CAPEX & OPEX G&A / OPEX ($m) CAPEX ($m) G&A OPEX 56 54 234 52 55 52 55 122 127 106 23 56 15 16 15 47 13 12 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 G&A / OPEX CAPEX G&A and OPEX for the full year totaled $67m, a level 56% reduction in Capex below which costs have been maintain
Slide 14: Cash Flow, Liquidity & Receivables
Cash Flow, Liquidity & Receivables Year-end cash of $108m vs. $425m FY’19; Debt and Cash Balance (mm$) • $105m dividend payment in May 2020 • Sukuk buyback/repayment $397m(par value), profit 1000 871 897 930 920 861 856 payment $12m 815 748 803 723 800 • Sukuk fully redeemed 31 October • $39m of c
Slide 15: 4. Summary
4. Summary
Slide 16: Summary
Summary Strong and resilient operational performance in 2020 Operations uninterrupted despite difficulty of working through the pandemic Sustainable revenues through gas sales under long-term contracts with host governments Net profit of $36m (before non cash impairment) despite low commodit
Slide 17: Reach Us: Dana Gas PJSC
Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : mohammed.mubaideen@danagas.com Direct : +971 6 519 4401