Rompetrol Rafinare Sa · BVB:RRC
Rompetrol Rafinare Sa — Investor Presentation (2007)
20 slides from Rompetrol Rafinare Sa's investor presentation, 2007
Slide 1: Rompetrol Rafinare Corporate Presentation 2007
ROMPETROL RAFINARE Corporate Presentation 2007 -1-
Slide 2: Table of Contents
Table of Contents Group Overview 9 History 9 Corporate Legal Structure Rompetrol Rafinare (“RRC”) 9 Shareholders 9 Operations * Refining * Petrochemicals * Marketing 9 Strategy 9 Stock Performance 9 Financials -2-
Slide 3: Significant Corporate Events (I)
Significant Corporate Events (I) 1974 - Established as the international operator of the Romanian oil industry 1993 - Privatized through a Management and Employee Buy Out (“MEBO”), turnover subsequently reduced to below $6 million by 1998 1998 - Control purchased by Dinu Patriciu and a group of loca
Slide 4: Significant Corporate Events (II)
Significant Corporate Events (II) 2005 - OMV sells its 25.1 percent stake in TRG back to the management of Rompetrol Holding 2005 - Record Financial results with net profit reaching $ 84 million on turnover of $2.35 billion. TRG starts operations in Albania and Georgia and opens a representative off
Slide 5: Simplified group structure
Simplified group structure The Rompetrol Group N.V. 100% Rompetrol France 99,6% DYNEFF SA 82,36% 72,22% 85 % 80 % 60% 60% 50,59% 70% 100 % 100 % 95% 51% 60% 60% 100% Rompetrol Rompetrol Rompetrol RP Albania RP Albania LLC Rompetrol Vector Rompetrol Rompetrol Rompetrol LLC Rompetrol Rompetrol Financi
Slide 6: Rompetrol Rafinare - Flow of Operations
Rompetrol Rafinare - Flow of Operations Russia & “Petromidia” Caspian refinery Region Logistics Retail Downstream Rom Oil Crude Logistic Wholesale Refining Oil Infrastructure Domestic Bulgaria Moldova Export Ukraine Turkey Petrochemicals Petrochemicals -6-
Slide 7: Rompetrol Rafinare – Petromidia
Rompetrol Rafinare – “Petromidia” Rompetrol Rafinare – “Petromidia"
Slide 8: Rompetrol Rafinare - Shareholders
Rompetrol Rafinare - Shareholders Name No. of shares (Billion) % The Rompetrol Group N.V. 16.04 76.0% and affiliates Funds/Financial 3.54 16.8% Institutions/Companies Individuals 0.86 4.1% TOP 200 20.44 96.9% Others 0.66 3.1% Total 21.10 100.0% Free float is concentrated to the first 200 shareholder
Slide 9: Rompetrol Rafinare - Refinery Assets
Rompetrol Rafinare - Refinery Assets z Built in 1976-79, was modernized in the early 1990s and can process a wide variety of crude oils, with different sulfur content and API z Capacity: 100,000 bbl/day or 5 mio. to/year z Has an unique location – Shores of the Black Sea in Navodari, 20 km north of
Slide 10: Rompetrol Rafinare - Crude Supply & Product Sales
Rompetrol Rafinare - Crude Supply & Product Sales CRUDE SUPPLY • Petromidia imports all its crude oil from Black Sea / Mediterranean Market • Petromidia Refinery benefits from processing only Ural crude which is traded at a differential compared to Brent crude • Brent–Ural average differential incre
Slide 11: Rompetrol Rafinare – Yields
Rompetrol Rafinare – Yields Kt; % 2007 2006 2005 Feedstock processed 3,827 3,695 3,259 Operational capacity utilisation rate 100% 92% 81% Gasoline 1,293 1,190 1,006 Diesel 1,410 1,374 1,201 Gasoline yield 33.8% 32.2% 30.9% Diesel yield 36.8% 37.2% 36.9% In 2007, we had the highest capacity utilisati
Slide 12: Rompetrol Rafinare - Refining Segment Margins
Rompetrol Rafinare - Refining Segment Margins USD/bbl or to; USD 2007 2006 2005 Gross cash refinery margin/t 56.7 59.7 75.8 Net cash refinery margin/t 19.5 22.5 41.9 Gross cash refinery margin/bbl 7.8 8.2 10.4 PVM Ural Cracking Margin/bbl (Benchmark 6.9 5.8 6.2 for Med refineries processing URAL) Di
Slide 13: Rompetrol Rafinare – Petrochemicals Assets
Rompetrol Rafinare – Petrochemicals Assets z PP (Polypropylene) - 80,000 mt/year (operating at capacity) – propylene is supplied by the refinery and by third parties z LDPE (Low Density Polyethylene) - 60,000 to/year – restarted in October 2006 after a 30 mUSD capital expenditure program; the main r
Slide 14: Rompetrol Rafinare – Petrochemicals Operations
Rompetrol Rafinare – Petrochemicals Operations Kt; %; mUSD 2007 2006 2005 Propylene processed 110 108 83 Ethylene processed 73 Production sales 170 96 84 Trading sales 15 30 44 Export 58% 51% 41% Domestic 42% 49% 59% EBITDA 4.6 6.3 8.7 - 14 -
Slide 15: Rompetrol Rafinare – Marketing Assets
Rompetrol Rafinare – Marketing Assets z Six depots owned in Romania with a total Capacity of 60 kcbm z Completely new network of COCO gas stations (115) built in the last 5 years and operating under Rompetrol Brand z Network of DODO gas stations (189) developed in the last 2 years operating under Ro
Slide 16: Marketing Segment – Operational & Margins
Marketing Segment – Operational & Margins Kt; USD/t 2007 2006 2005 Quantities sold – Retail 430 296 209 Quantities sold – Wholesale & Partners 807 746 733 Gross Margin – Retail 149 116 122 Gross Margin – Wholesale & Partners 47 37 30 EBITDA (*) 60 36 23 In the last 3 years, we have continuously incr
Slide 17: Rompetrol Rafinare – Strategy (Refining)
Rompetrol Rafinare – Strategy Rompetrol Rafinare strives to become, through organic growth and sensible low-cost acquisition that integrate with its existing operations, the leading low-cost provider of petroleum products in the Balkans • In Refining, we intend to: » Increase the operational capacit
Slide 18: Rompetrol Rafinare – Strategy (Retail & Marketing)
Rompetrol Rafinare – Strategy In Retail & Marketing we intend to double our presence in Romania in the next 5 years by: • Build or acquire additional retail sites up to a total of 149 COCO stations by the end of 2012. z Franchise network of 109 DODO stations by the end of 2012. z Innovate and captur
Slide 19: Rompetrol Rafinare – Stock Performance
Rompetrol Rafinare – Stock Performance - 19 -
Slide 20: Consolidated Audited Financials RRC
Consolidated Audited Financials RRC IFRS Million USD/% 2007 2006 2005 Net Revenues 2,610 2,106 1,683 Net Revenues increase 24% 25% 48% EBITDA 136 122 158 EBITDA Margin 5.21% 5.8% 9.4% Net result (116) (22) 74 Net result Margin -4.4% -1.0% 4.4% Basic EPS (US cents) (0.578) (0.132) 0.343 - 20 -