19 slides from Lyondellbasell Industries Nv's earnings presentation, Apr 29, 2014
Slide 1: First-Quarter 2014 Earnings
Exhibit 99.2 First-Quarter 2014 Earnings Jim Gallogly, Chief Executive Officer Karyn Ovelmen, Chief Financial Officer Sergey Vasnetsov, SVP – Strategic Planning and Transactions Doug Pike, VP – Investor Relations
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 We have included EBITDA in this presentation, which is a non-GAAP measure, as we believe that EBITDA is a measure commonly used by investors. However, EBITDA, as presented herein, may not be comparable to a similarly titled measure reported by other companie
Slide 4: Highlights
Highlights ($ in millions, except per share data) 1Q'14 4Q'13 1Q'13 EBITDA $1,668 $1,543 $1,585 Income from Continuing Operations $943 $1,177 $906 Diluted Earnings ($ / share) from Continuing Operations $1.72 $2.11 $1.56 LTM EBITDA - $6,394 million LTM EPS – $6.93 per share ($ in millions) EBITDA In
Slide 5: LyondellBasell Safety Performance
LyondellBasell Safety Performance Safety - Injuries per 200,000 Hours Worked(1) 0.5 0.4 0.3 0.2 0.1 0.0 2009 2010 2011 2012 2013 Q1' 2014 1) Includes employees and contractors. lyondellbasell.com 5
Slide 6: First Quarter 2014 and Last Twelve Months (LTM) Segment EBITDA
First Quarter 2014 and Last Twelve Months (LTM) Segment EBITDA Q1’14 EBITDA LTM March 2014 EBITDA $1,668 million $6,394 million Q1’14 Operating Income LTM March 2014 Operating Income $1,340 million $5,175 million ($ in millions) ($ in millions) $1000 $3,750 First Quarter 2014 EBITDA LTM March 2014 E
Slide 7: Cash Flow
Cash Flow ($ in millions) Q1 2014 LTM March 2014 $8,000 $8,000 6,000 6,000 4,000 4,000 $4,379 $4,379 $4,450 2,000 2,000 $2,879 0 0 (1) Jan 2014 (1) CF from Working (2) Capex (3) Dividends & Net Debt Other Mar 2014(1) Apr 2013 CF from Working (2) Capex (3) Dividends & Net Debt Other Mar 2014 (1) Begi
Slide 8: Sustained Cash Generation: Share Repurchases & Dividends
Sustained Cash Generation: Share Repurchases & Dividends Cash From Operations Dividends & Share Repurchases ($ in millions) ($ in millions) $5,000 $5,000 4,000 4,000 3,000 3,000 2,000 2,000 1,000 1,000 2011 2012 2013 LTM March 2011 2012 2013 Q1' 2014 Capex Free Cash Flow 2014 Interim Dividends Speci
Slide 9: Cold U.S. Weather Created First-Quarter Pressure
Cold U.S. Weather Created First-Quarter Pressure Henry Hub Natural Gas Prices ($/MMBTU) 6.0 5.5 5.0 U.S. Cost of Ethylene Production 4.5 (cents/lb) 4.0 25 3.5 20 3.0 Oct'13 Nov'13 Dec'13 Jan'14 Feb'14 Mar'14 Apr'14 15 10 U.S. NGL Prices 5 (cents/gal) 180 160 0 Oct'13 Nov'13 Dec'13 Jan'14 Feb'14 Mar'
Slide 10: Olefins & Polyolefins – Americas Highlights and Business Drivers – 1Q’14
Olefins & Polyolefins – Americas Highlights and Business Drivers – 1Q’14 (2) EBITDA Performance vs. 4Q’13 ($ in millions) EBITDA Margin Volume $1000 U.S. Olefins • Impacts from maintenance and NGL price volatility 800 • Inventory build ahead of La Porte turnaround 600 • Metathesis unit adding to mar
Slide 11: Olefins & Polyolefins – Europe, Asia, International Highlights and Business Drivers – 1Q’14
Olefins & Polyolefins – Europe, Asia, International Highlights and Business Drivers – 1Q’14 (2) EBITDA Performance vs. 4Q’13 ($ in millions) EBITDA Margin Volume $400 EU Olefins • Margin expansion – increased cracking of advantaged feedstocks 300 • Operating rate ~ 93% Polyethylene 200 • Volumes up
Slide 12: Intermediates & Derivatives Highlights and Business Drivers – 1Q’14
Intermediates & Derivatives Highlights and Business Drivers – 1Q’14 (2) EBITDA Performance vs. 4Q’13 ($ in millions) EBITDA Margin Volume $500 Propylene Oxide and Derivatives 400 • Higher deicer sales 300 Intermediates • Higher methanol volumes and margins 200 • Lower styrene and EG margins 100 Oxyf
Slide 13: Refining Highlights and Business Drivers – 1Q’14
Refining Highlights and Business Drivers – 1Q’14 (2) EBITDA Performance vs. 4Q’13 ($ in millions) EBITDA Margin Volume $200 Houston Refinery • Crude throughput: 247 MBPD 150 • Maya 2-1-1: $28.26 per bbl • Coker outage • Increased costs of natural gas and 100 RINs 50 1Q'13 2Q'13 3Q'13 4Q'13 1Q'14 Ref
Slide 14: Projects Annual Potential Values & Completion Timelines
Projects Annual Potential Values & Completion Timelines Annual Potential Value (1) ($ Million/ yr) $1,200 Q4 1,000 800 Q1 Q3 600 Completed 400 Q4 Q1 200 Q2 BD Methanol PE La Porte Channelview Corpus Expansion Restart Debottleneck Expansion Expansion Christi Expansion 1) Annual potential values are b
Slide 15: Methanol Restart Last Review Now
Methanol Restart Last Review Now lyondellbasell.com 15
Slide 16: Channelview Ethylene Expansion Last Review Now
Channelview Ethylene Expansion Last Review Now lyondellbasell.com 16
Slide 17: La Porte Ethylene Expansion Last Review Now
La Porte Ethylene Expansion Last Review Now lyondellbasell.com 17
Slide 18: Projects Completed and Active
Projects Completed and Active Cost Potential Pre-Tax Earnings Project Start-up ($Million) ($ Million/year) Increase Ethane Capability and ~$50 2012 $150 - $180 Midwest Debottlenecks EU Butadiene Expansion ~$100 Mid 2013 $40 - $50 Methanol Restart ~$180 Late 2013 $250 - $260 PE Debottleneck ~$20 Earl
Slide 19: First Quarter Summary and Outlook
First Quarter Summary and Outlook First-Quarter Summary Near-Term Outlook – Impact on O&P – Americas from – La Porte turnaround started in late maintenance, NGL volatility, and Q1’2014, estimate ~ 80 days weather related delays – O&P – EAI is expected to benefit from – Europe olefins and polyolefins