Slide 1: OMV Petrom Q3/19 Results
OMV Petrom Q3/19 Results Christina Verchere, CEO October 30, 2019 OMV Petrom S.A.
Slide 2: Legal Disclaimer
Legal Disclaimer This presentation does not, and is not intended to, constitute or form part of, This presentation may contain forward-looking statements. These statements and should not be construed as, constituting or forming part of, any actual reflect the Company’s current knowledge and its expe
Slide 3: Economic environment
Economic environment Oil price (USD/bbl) Gas prices (EUR/MWh) 75 69 69 63 62 25.9 25.1 25.0 74 23.7 68 69 22.1 63 62 19.5 24.5 22.6 15.5 4,22 4,25 4,17 11.2 4,08 4,00 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Avg Urals price in USD/bbl (left scale) Avg USD/RON (right scale) Avg Bre
Slide 4: Key messages Q3/19
Key messages Q3/19 performance Clean CCS Operating Clean CCS Financial Operating Cash Flow ROACE result RON 2.1 bn 14.7% RON 1.2 bn Upstream: Workovers and new wells and sidetracks partly compensated natural decline Operational highlights New shallow offshore drilling campaign progressing Well
Slide 5: Operational KPIs
Operational KPIs Upstream Downstream Oil Downstream Gas OPEX OMV Petrom Indicator Gas sales volumes (USD/boe) refining margin (USD/bbl) (TWh) 0% 0% +37% +37% -2% -2% 11,66 11,20 6,62 6,46 12,88 13,37 10,41 10,73 10,45 12,23 5,27 9,74 9,39 3,62 3,85 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q3/18 Q4/18 Q1/19 Q2/
Slide 6: CAPEX and E&A
CAPEX and E&A CAPEX incl. capitalized E&A Group CAPEX incl. capitalized E&A (RON bn) 9m/19 at RON 2.8 bn: 65 new wells and sidetracks drilled -7% -7% ~700 workovers performed 4.3 4.0 Shallow offshore drilling campaign started -10% -10% 3.1 Coker Closed Blowdown system 2.8 CCPP Brazi plan
Slide 7: OMV Petrom Q3/19 Results - Alina Popa, CFO
OMV Petrom Q3/19 Results Alina Popa, CFO October 30, 2019 OMV Petrom S.A.
Slide 8: Income Statement highlights
Income Statement highlights Clean CCS Operating Result (RON bn) +2% Q3/19 Clean CCS Operating Result reflects: 3.38 3.45 -27% ► Lower oil prices 1.68 1.23 ► Higher sales volumes of fuels, gas and power ► Favorable FX development and prices for natural gas and electricity Q3/18 Q3/19 9m/18 9m/19 Co
Slide 9: Clean CCS Operating Result
Clean CCS Operating Result Upstream (RON mn) Favourable FX 965 Higher realized gas prices -152 -91 -85 546 -91 Lower crude prices Sales volumes -5% Q3/18 Market Volume Exploration Other Q3/19 Higher exploration expenses effects Downstream 99% refining utilization rate (RON mn) 639 637 16
Slide 10: Cash Flow highlights
Cash Flow highlights Cash Flow from Operating Activities (RON bn) -10% 5,56 5,03 -12% Q3/19 Net working capital: cash inflow RON 238 mn 2,38 2,09 (Q3/18: RON 133 mn) Lower Operating Result Q3/18 Q3/19 9m/18 9m/19 Free Cash Flow (RON bn) +3% 2,43 2,51 +14% Q3/19 CFO1 -12% yoy 1,22 1,38 Q3/19
Slide 11: Outlook 2019
Outlook 2019 Assumptions/Targets Indicators Actual 2018 Actual 9m/19 2019 Brent oil price USD 71/bbl USD 64.59/bbl USD 65/bbl Refining margin USD 6.28/bbl USD 4.67/bbl USD ~5.00/bbl Production 160 kboe/d 152 kboe/d ~ -5% yoy 1 CAPEX RON 4.3 bn RON 2.8 bn RON 4.0 bn FCF after dividends RON 2.0 bn RON
Slide 12: Q&A
< ao i= S oO a > = fo) S ° ® oO > = O The energy for a better life.
Slide 13: Back-up
< ao i= S oO a > = fo) S ° ® oO > = O The energy for a better life.
Slide 14: Clean CCS Operating Result
Clean CCS Operating Result Upstream Favourable FX (RON mn) 2.430 Higher realized gas prices 119 -255 2.144 -95 -55 Clarification of a tax topic Lower crude prices 9m/18 Market Volume Exploration Other 9m/19 Sales volumes -5% effects Downstream (RON mn) 96% refining utilization rate 1,337