Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q2 2011 Earnings Presentation
16 slides from Lyondellbasell Industries Nv's earnings presentation, Jul 29, 2011
Slide 1: Second-Quarter 2011 Earnings
Second-Quarter 2011 Earnings Jim Gallogly, Chief Executive Officer Kent Potter, Chief Financial Officer Sergey Vasnetsov, SVP - Strategic Planning and Transactions Doug Pike, VP - Investor Relations July 29, 2011
Slide 2: 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 3: Cautionary Statement
Cautionary Statement The information in this presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues, earnings, business strategies, competitive position or other aspects of our operations or operating results. Actual outcomes and resu
Slide 4: Highlights
Highlights 1Q09 2Q09 3Q09 4Q09 1Q10 May - June 2010 3Q10 4Q10 1Q11 2Q11 East 390 537 783 526 640 955 1230 762 1403 1553 EBITDA(2) May 2010 - June 2011 1) All EBITDA figures include joint venture dividends. 2) May-June 2010, 3Q10 and 4Q10 EBITDA figures exclude LCM inventory charges of $333 million,
Slide 5: LyondellBasell Safety Performance
LyondellBasell Safety Performance Overall safety performance remains among the best in the industry
Slide 6: Second-Quarter 2011 and Year-to-Date 2011 Segment EBITDA
LyondellBasell Second-Quarter 2011 and Year-to- Date 2011 Segment EBITDA June 2011 YTD EBITDA June 2011 YTD EBITDA $2,955 million June 2011 YTD Operating Income $2,330 million 2Q11 EBITDA $1,553 million 2Q11 Operating Income $1,265 million Second-Quarter 2011 EBITDA
Slide 7: Cash Flow
Cash Flow 1) Includes inventories, accounts payable and accounts receivable. 2) Includes capital and maintenance turnaround spending. 3) 2Q11 ending cash balance includes cash, cash equivalents and restricted cash. (2) Second Quarter 2011 Since Emergence (May 1, 2010) (2) (1) (1) (3) (3)
Slide 8: Working Capital and Liquidity
Working Capital and Liquidity Working Capital (1) Liquidity Snapshot at June 30, 2011 Liquidity: ~ $7.1 billion Net Debt: ~ $0.9 billion Cash: ~ $4.9 billion 1) Figures depicted represent end-of-quarter balances.
Slide 9: Joint Venture Valuation
Joint Venture Valuation Joint Venture Statistics JV Financial Performance Annualized 1H '11 JV Valuations Annualized 1H '11 LTM LTM
Slide 10: Olefins & Polyolefins - Americas
2Q 10 1Q 11 2Q 11 Jul-11 Olefins & Polyolefins - Americas Highlights and Business Drivers - 2Q11 U.S. Olefins Expanded ethylene margin Channelview OP-2 turnaround ~80% of ethylene from NGLs Polyethylene Margin compression on higher ethylene price Polypropylene (includes Catalloy) Volume recovery fro
Slide 11: Olefins & Polyolefins - Europe, Asia, International
Olefins & Polyolefins - Europe, Asia, International Highlights and Business Drivers - 2Q11 EU Olefins Ethylene plant and butadiene margin expansion Polyethylene Relatively unchanged Polypropylene (includes Catalloy) Relatively unchanged JV dividends Ethylene Chain Margins (per CMAI) EBITDA (1) Trend
Slide 12: Intermediates & Derivatives
Intermediates & Derivatives Highlights and Business Drivers - 2Q11 1) LCM charges of $25 million and $(17) million are excluded for May-June 2010 and 4Q10, respectively. EBITDA (1) Propylene Oxide and Derivatives Lower volumes on end of seasonal aircraft deicer sales Intermediates Increased acetyls
Slide 13: Refining & Oxyfuels
Refining & Oxyfuels Highlights and Business Drivers - 2Q11 Houston Refinery Crude thruput: 263 MB/D Maya 2-1-1: $25.78 / bbl Margin expansion, advantaged crudes Berre Refinery Crude thruput: 85 MB/D Urals 4-1-2-1: $7.71 / bbl Oxyfuels Seasonal improvements Refining Spreads (per Platts) (2) EBITDA (1
Slide 14: Technology
Technology Highlights and Business Drivers - 2Q11 Continued strong catalyst results Reduced licensing income, as anticipated Second-Quarter 2011 Results $42 million EBITDA Spherilene Technology
Slide 15: Second-Quarter Summary and Outlook
Second-Quarter Summary and Outlook Asian market improvement Upcoming industry maintenance turnarounds in Asia and U.S. July ethylene chain margins are below Q2 levels, but remain good Houston refinery operating with revamped FCCU and favorable industry spreads Near-term Outlook Margin increases over
Slide 16: Looking Ahead
Looking Ahead Continued capacity creep and efficiency improvements - attention to detail and low-cost projects U.S. olefins feedstock optimization - continue to lighten the mix U.S. "brownfield" expansions Ethylene Polyethylene "Condo" cracker participation consideration Propylene oxide expansion Ch
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