China Petroleum & Chemical Corporation Class A · SSE:600028
China Petroleum & Chemical Corporation Class A — Q3 2023 Earnings Presentation
17 slides from China Petroleum & Chemical Corporation Class A's earnings presentation, Oct 27, 2023
Slide 1: 3Q 2023 Results Announcement
China Petroleum & Chemical Corporation 3Q 2023 Results Announcement October 27 2023 中国石油化工股份有限公司 S I N O P E C CORP.
Slide 2: Cautionary Statement
Cautionary Statement Financial data of the first three quarters contained in the presentation and presentation materials are unaudited. This presentation and the presentation materials distributed herein include forward-looking statements. All statements, other than statements of historical facts, t
Slide 3: Market Environment in The First Three Quarters of 2023
Market Environment in The First Three Quarters of 2023 China’s economy continued to recover, GDP grew by 5.2% in the first three quarters YoY International crude oil prices dropped in 1H, and rebounded in 3Q Domestic demand growth for natural gas kept stable, refined oil products demand reboun
Slide 4: Achieved Good Performance
Achieved Good Performance EBIT RMB million 1-9’22 1-9’23 YoY (%) RMB million 87,363 Revenue 2,453,322 2,469,941 0.7 84,946 EBIT 87,363 84,946 (2.8) Profit Attributable to 57,869 54,060 (6.6) Shareholders of 28,390 the Company 16,986 EPS (RMB) 0.478 0.451 (5.6) 1-9’22 1-9’23 3Q22 3Q23 中国石油化工股份有限公司 SI
Slide 5: Financial Position
Financial Position RMB million As of Dec. 31, 2022 As of Sep. 30, 2023 Total Assets 1,951,121 2,084,435 Short-term Interest-bearing 66,329 95,014 Debts Long-term Interest-bearing 107,961 198,793 Debts Total Equity Attributable to 787,600 798,152 Shareholders of the Company Liability-to-Asset Ratio 5
Slide 6: Cash Flow
Cash Flow RMB million 1-9’22 1-9’23 YoY (%) Net Cash Generated from Operating 59,244 98,309 65.9 Activities Net Cash Used in Investing (69,911) (120,662) - Activities Net Cash Generated from Financing 23,877 56,645 137.2 Activities RMB million As of Dec. 31, 2022 As of Sep. 30, 2023 Change (%) Cash
Slide 7: Progress of Share Buyback
Progress of Share Buyback To Promote the company's value and protect shareholders' interests, the Company continued to launch share buyback in A and H share markets, and all repurchased shares will be cancelled Resolution in relation to the share buyback program approved by the board meeting on
Slide 8: Upstream – New Achievements in Increasing Reserves, Stabilizing Oil Production
Upstream – New Achievements in Increasing Reserves, Stabilizing Oil Production, Boosting Gas Output and Cutting Costs Intensified efforts in high quality exploration, and achieved several oil and gas discoveries Efficient progress in oil and gas production capacity building Natural gas product
Slide 9: Upstream – Strong Profitability
Upstream – Strong Profitability Realized Price of Crude Oil Lifting Cost USD/bbl USD/bbl 94.2 16.6 15.3 75.7 1-9'22 1-9'23 1-9'22 1-9'23 Realized Price of Natural Gas E&P EBIT RMB Million USD/thousand cubic feet 7.5 46,245 7.1 41,620 1-9'22 1-9'23 1-9'22 1-9'23 * 1-9’23 USD 1=RMB 7.0148; 1-9’22 USD
Slide 10: Refining – Flexible Adjustment of Business Strategy
Refining – Flexible Adjustment of Business Strategy Vigorously increased facility utilization rate, refinery throughput increased by 7.6% The production of refined oil products increased by 14.0% Scaled up export volume and optimized export rhythm and structure Optimised the rhythm of conver
Slide 11: Refining – Profitability
Refining – Profitability Refining Margin EBIT of Refining USD/bbl RMB million 8.34 7.07 20,645 18,700 1-9'22 1-9'23 Cash Operating Cost USD/bbl 4.50 4.00 1-9'22 1-9'23 1-9'22 1-9'23 中国石油化工股份有限公司 SINOPEC CORP. 11
Slide 12: Marketing – Gave Full Play to Integration and Network Advantages
Marketing – Gave Full Play to Integration and Network Advantages Expanded the market and sales, and improved the quality of operations Promoted the development of EV charging and battery swapping services and explored hydrogen energy application scenarios Transformed into a comprehensive energ
Slide 13: Marketing – Achieved Increase in Profitability YoY
Marketing – Achieved Increase in Profitability YoY Profit of Non-fuel Business EBIT of Marketing RMB million 3,969 RMB million 3,473 26,528 23,154 1-9'22 1-9'23 Marketing Cash Operating Cost RMB/tonne 202 185 1-9'22 1-9'23 1-9'22 1-9'23 中国石油化工股份有限公司 SINOPEC CORP. 13
Slide 14: Chemicals – Strengthened Structural Adjustment
Chemicals – Strengthened Structural Adjustment Implemented profit-oriented optimization of raw materials, product slate and facilities utilization Steadily increased portion of high value-added products Vigorously expanded domestic and overseas market ’000 tonnes 1-9’22 1-9’23 YoY (%) Ethylene
Slide 15: Chemicals – Made Turnaround in 3Q
Chemicals – Made Turnaround in 3Q Chemical All-in Cost EBIT of Chemicals RMB/tonne RMB million 1,508 1,466 59 1-9'22 1-9'23 (1,061) Chemical Products Price Index (CPPI) (3,022) 160 (3,744) 130 100 (6,707) 70 40 1-9'22 1-9'23 1Q23 2Q23 3Q23 Jan-21 Jan-22 Jan-23 Index Spread CPPI Naphtha Price Index 中
Slide 16: Capital Expenditure
Capital Expenditure Capital expenditure in the first three quarters was RMB 108.2 Bn RMB billion 108.2 E&P: RMB 50.7 Bn 104.0 Mainly for construction of oil & gas capacity and logistic facilities Refining: RMB 10.5 Bn Mainly for refining structural adjustment projects in Yangzi Marketing & D
Slide 17: Contact Information
Contact Information Investor relations Beijing: Tel: (8610) 59960028 Fax: (8610) 59960386 Email: ir@sinopec.com Hong Kong: Fax: (852) 28243669 Email: ir.hk@sinopec.com www.sinopec.com 中国石油化工股份有限公司 SINOPEC CORP. 17
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