Sk Innovation Co., Ltd · KRX:096770
Sk Innovation — Q1 2005 Earnings Presentation
28 slides from Sk Innovation's earnings presentation, Apr 28, 2005
Slide 1: 2005 Q1 Earnings Results
2005 1 2005. 4. 28. SK
Slide 2: 2005 · . ,
2005 1 · . , 1
Slide 3: Contents and Appendix
1. 2005 1 2. 2005 1 [ ] Appendix 2
Slide 4: 1. 2005 Q1 Results
1. 2005 1 3
Slide 5: Q1 results summary
(1 ) ’04 1Q ’05 1Q (%) 41,790 47,639 +5,849 (14%) 4,384 3,834 -550 (-13%) 1,501 1,538 +37 (3%) 5,885 5,372 -513 (-9%) 4
Slide 6: Revenue by segment
’04 1Q ( ) ’05 1Q ( ) (%) 29,980 (72%) 33,199 (70%) 3,219 (11%) 9,345 (22%) 11,616 (25%) 2,271 (24%) 1,181 (3%) 1,304 (3%) 123 (10%) 494 (1%) 760 (1%) 266 (54%) 790 (2%) 760 (1%) -30 (-4%) 41,790 (100%) 47,639 (100%) 5,849 (14%) 5
Slide 7: Operating income by segment
’04 1Q ( ) ’05 1Q ( ) (%) 2,521 (8.4%) 961 (2.9%) -1,560 (-62%) 1,232 (13.2%) 2,078 (17.9%) 846 (69%) 203 (17.2%) 200 (15.3%) -3 (-1%) 409 (82.8%) 541 (71.2%) 132 (32%) 19 (2.4%) 54 (7.1%) 35 (184%) 4,384 (10.5%) 3,834 (8.0%) -550 (-13%) 6
Slide 8: Non-operating income and net income
’04 1Q ’05 1Q - 634 - 468 166 761 266 - 495 1,908 1,977 69 - 534 - 237 297 1,501 1,538 37 * ’05 : - 19.5/U$ ( 1,043.8/U$ 1,024.3/U$ ) ** ’05 : SK (273 ), SK (237 ) 7
Slide 9: Assets, debt and financial ratios
’04.12 ’05. 3 148,600 158,441 9,841 81,753 89,872 8,119 (45,446) (45,907) (461) 66,847 68,569 1,722 ( 6,506 ) (6,506) (-) 122.3 % 131.1 % 8.8 % 73.6 % 65.2 % - 8.4 % 8
Slide 10: Debt and net debt changes
’04.12 ’05. 3 11,977 12,712 735 33,469 33,195 - 274 (a) 45,446 45,907 461 7,231 4,450 - 2,781 52,677 50,357 - 2,320 (c) 3,505 5,629 2,124 (a+b-c) 49,172 44,728 - 4,444 * ’05. 3 : ABS Factoring (4,450 ) 9
Slide 11: 2. 2005 Outlook
2. 2005 1 10
Slide 12: Refining margin trends
1 (US$/B) 8 45 - ( 40% ) 7 - 40 6 - 5 - B-C (19% ) 35 4 3 * 30 (U$/B) 2 25 1 0 20 -1 15 -2 -3 10 -4 ’05.3 '04.1 3 5 7 9 11 '05.1 3 Positive Source : Company 11
Slide 13: Crude oil price and Dubai
( ) (FOB , US$/B) Dubai (US$/B) / Time-lag - Risk * M/M : – M-1/M : – - Source : Company 12
Slide 14: Refining margin comparison by company
( ) 3%, 11% (’04.1Q vs ’05.1Q) ( ) 20 18 16 14 12 10 8 6 4 2 0 G04 G05 K04 K05 J04 J05 D04 D05 B04 B05 Source : Company 13
Slide 15: Petrochemical spreads
Tight Ethylene / BZ - Naphtha Spread (US$/Ton) 900 900 Tight 800 800 Spread 700 700 - , Start- Up 600 600 - 500 500 - 400 400 ( : ) 300 300 200 200 ’ ’ ’ ’ 100 100 0 0 '04.01 3 5 7 9 11 '05. 1 3 spread PP spread spread Source : Merrill Lynch Estimates Source : ICIS 14
Slide 16: Downstream and polymer operations
Mode ( ) '04.1Q '05.1Q 220 200 ; , 180 160 140 - Downstream 120 100 80 60 Polymer 40 20 0 Ethylene PX PE/PP Source: Company 15
Slide 17: Source: Company
1,000 ( ) 809 800 - 600 495 400 - 200 200 - / 0 Source: Company 16
Slide 18: E&P and LNG project
/ ( ) (US$/B) 800 55 2005 33 11 19 2005 11 19 700 48.2 45 600 - : 24,000 / 32.1 35 - : 6 500 / 400 25 - BM-C- 8 11 541 494 409 760 300 15 200 - 5 LNG Project 100 - 6.7 / LNG / 0 -5 - SK : 7.2% '04 1Q '05 1Q (LHS) (LHS) Brent (RHS) 17
Slide 19: 18
18
Slide 20: Appendix contents
Appendix; 1. ( ) 2. / PLANT 3. ( / ) 4. / 19
Slide 21: Product price and import data
1. ( ) Unit: bbl / Mon Diesel Diesel Kero B-C B-C Kero Gasoline Gasoline Source: KNOC 20
Slide 22: Plant capacity
2. / Plant (SK Corp) Plant – CDU * 810mb/d Plant ’ ’ ’ ’ ’ ’ ’ ’ 21
Slide 23: 3-A
3- A. 22
Slide 24: 3-B
3- B. 23
Slide 25: 4-A Quarterly operating income
4-A. ( : ) ’04 1Q ’04 4Q ’04 1Q ’04 4Q ’04 ’05 1Q 1Q 41,790 35,013 6,777 4,384 4,563 16,205 3,834 -550 -729 3,753 6,672 15,845 3,447 -306 -3,225 2,252 2,917 9,191 1,909 -343 -1,008 5,885 8,318 22,859 5,372 -513 -2,946 24
Slide 26: 4-B Quarterly results
4-B. – ( : ) ’04 1Q ’04 4Q ’04 1Q ’04 4Q '04 '04 4Q ’05 1Q 25
Slide 27: 4-C Quarterly results
4-C. – ( : ) ’04 1Q ’04 4Q ’04 1Q ’04 4Q '04 '04 4Q ’05 1Q 26
Slide 28: 4-D E&P quarterly results
4-D. – /E&P/ ( : ) E&P ’04 1Q ’04 4Q ’05 1Q ’04 1Q ’04 4Q ’05 1Q ’04 1Q ’04 4Q ’05 1Q 27