Equinor Asa · OSL:EQNR
Equinor Asa — Statoil — Q3 2015 Earnings Presentation
10 slides from Equinor Asa's earnings presentation, 2015
Slide 1: 3rd Quarter 2015
3rd Quarter 2015 Hans Jakob Hegge, CFO Photo credit: Aibel
Slide 2: Third quarter 2015
Third quarter 2015 • Consistent strong operational performance • Adjusted opex and SG&A down 15% YoY1) • Lowering 2015 capex guidance by USD 1 bn to USD 16.5 bn • Strong cash flow generation • Delayed schedule on Mariner and Aasta Hansteen • 3Q dividend of 0.2201 USD 2 1) All segments weighted in ma
Slide 3: Strong production performance
Strong production performance • Continued high production regularity Equity production mboe/d • Value over volume 1909 1829 1927 − Flex-gas moved from 2014 to 2015 and sold at higher prices • 7% underlying growth1) Gas − 10% on NCS Liquids 3 1) Production change YoY adjusted for divestments
Slide 4: Adjusted earnings by segment
Adjusted earnings by segment D&P Norway D&P International MMP • Strong operational performance give • Low realised prices lead to • Strong delivery continues solid adjusted earnings negative adjusted earnings • High reliability captured high • Higher European gas prices • Adjusted earnings impacted
Slide 5: Financial results
Financial results • Solid operational performance 3Q 2015 NOK bn • Strong results from MMP (2.8) 7.3 9.4 16.7 (13.0) 3.7 • Low oil prices resulting in negative N/A (57%) (46%) (60%) results in D&P International • Impairment of exploration assets and provision for redetermination impacts IFRS Net inc
Slide 6: Cash flow 2015
Cash flow 2015 • Strong cash generation 2015 YTD; NOK bn • High earnings after tax from MMP • Proceeds from divestments • Adjusted net debt to capital employed of 24% 6 1) Income before tax (7) + Non cash items (123)
Slide 7: Outlook 2015
Outlook 2015 Capex USD ~16.5 bn1) Production >3% annual organic growth 40 mboe per day Maintenance 15 mboe per day in 4Q Exploration USD ~3.0 bn1) 7 1) Assuming NOK/USD of 8.00
Slide 8: Thank you
Thank you 8 St satoi
Slide 9: Investor Relations in Statoil
Investor Relations in Statoil Main Desk: +47 22 97 20 42 E-mail: [email protected] Investor Relations Europe Peter Hutton Senior Vice President [email protected] +44 788 191 8792 Lars Valdresbråten IR Officer [email protected] +47 40 28 17 89 Erik Gonder IR Officer [email protected] +47 99 56 26 11
Slide 10: Forward-looking statements
Forward-looking statements This presentation contains certain forward-looking statements that involve risks and uncertainties. In some These forward-looking statements reflect current views about future events and are, by their nature, subject cases, we use words such as "ambition", "continue", "cou