Dana Gas Pjsc · ADX:DANA
Dana Gas Pjsc — FY2022 Earnings Presentation
17 slides from Dana Gas Pjsc's earnings presentation, Feb 8, 2023
Slide 1: Clean Energy for the Future: FY 2022 Financial Results
Clean Energy for the Future FY 2022 –Financial Results 8 February 2023 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 2022
Snapshot – FY 2022 Operations Financials ▪ Group existing operations continued uninterrupted ▪ FY Net Profit $182mm vs $317mm 2021 ▪ FY Group production at 60,200 boepd ▪ FY adjusted Net Profit (excluding one-off items) • 3% down vs FY 2021 $196mm vs $128mm, up 53%, which reflects • KRI production 1
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 2021 vs FY 2022 Average production Q4 2021 vs Q4 2022 FY 2021 Q4 2021 62,100 59,000 58,600 60,200 FY 2022 Q4 2022 33,300 34,000 33,800 34,300 28,300 25,700 24,600 25,900 Group Egypt KRI Group Egypt KRI FY15 VS FY 16 Average Realiz
Slide 8: KRI: Energising the country
KRI: Energising the country Operations ▪ Operations continued as normal ▪ Produced 34,300 boepd in FY 2022 (148 MMscf of gas; 5,100 bbl/d of condensate and 375 MTPD of LPG) ▪ Completed a plant debottlenecking project that increased current plant capacity by 50 MMscf/d ▪ Khor Mor plant produced recor
Slide 9: Egypt: Operations Overview
Egypt: Operations Overview Operations ▪ Produced 25,900 boepd in 2022 (125 MMscf of gas; 2,757 bbl/d of condensate and 206 MTPD of LPG); 8% drop compared to FY 2021 as a result of limited investment and natural field declines ▪ The decline is lower than the 20% production decrease that is expected f
Slide 10: Arbitration Update
Arbitration Update UAE Gas Project ▪ Following the notification by Crescent Petroleum of the positive outcome of the long-standing case against the National Iranian Oil Company, an amount of $607.5 million will be payable to Dana Gas due to the arbitration award on 27 September 2021 relating to the
Slide 11: 3. Financial Update
3. Financial Update 11
Slide 12: Financial Highlights
Financial Highlights Gross Revenue ($mm) Gross Profit and EBITDA ($mm) 600 529 2021 2022 2021 2022 400 500 452 332 400 300 269 249 300 195 200 200 118 114 90 91 100 100 49 47 0 0 FY Q4 FY EBITDA FY Gross Profit Q4 EBITDA Q4 Gross Profit Adjusted Net Profit ($mm) Net Profit ($mm) Item FY 2021 FY 2022
Slide 13: CAPEX & OPEX
CAPEX & OPEX G&A / OPEX ($mm) CAPEX ($mm) G&A OPEX G&A/boe ($/boe) Opex/boe ($/boe) 2.6 2.6 2.4 2.3 2.4 2.3 2.1 2.1 56 54 55 234 52 55 60 57 52 1.0 139 122 127 126 0.7 0.6 106 0.6 0.5 0.5 0.5 0.5 23 56 13 15 16 15 47 12 11 12 2015 2016 2017 2018 2019 2020 2021 2022 2015 2016 2017 2018 2019 2020 2021
Slide 14: Cash Flow, Liquidity & Receivables
Cash Flow, Liquidity & Receivables ▪ Year-end 2022 cash of $151mm vs. $185mm FY Debt and Cash Balance ($mm) 2021; • $172mm dividend payment in 2022 1000 871 897 930 920 861 815 • $88mm of cash currently held at Pearl Petroleum 800 748 803 723 600 456 151 414 Group’s total borrowings stands at $216mm
Slide 15: 4. Summary
4. Summary
Slide 16: Summary
Summary ▪ Delivered a solid set of financial results • Produced some of the Company’s strongest yearly results • Adjusted Net Profit $196mm, up 53% • Revenue over $500m+ due to higher realized prices • $172mm total dividend paid in 2022 for H2 2021 and H1 2022 (4.5 fils each) • Maintaining collectio
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