Dana Gas PJSC · ADX:DANA
Dana Gas PJSC — 9M 2021 Earnings Presentation
17 slides from Dana Gas PJSC's earnings presentation, Nov 14, 2021
Slide 1: Clean Energy for the Future: 9M 2021 Financial Results
Clean Energy for the Future 9M 2021 –Financial Results 14 November 2021
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo
Slide 3: Contents
Contents 1 Headlines 2 Production & Country Performance 3 Financial Update 4 Summary
Slide 4: 1. Headlines
1. Headlines —
Slide 5: Snapshot – 9M 2021
Snapshot – 9M 2021 Operations Financials Group operations continued uninterrupted Net Profit $279m versus $379m loss 9M20 9M avg. production 63,200 boepd Profit includes other income, reversals and impairments • 9M KRI production up 7% to 34,000 boepd Net profit excluding one-off items $99
Slide 6: 3. Production & Country Performance
3. Production & Country Performance
Slide 7: Production (boepd) & Realized Prices (USD/boe)
Production (boepd) & Realized Prices ( USD/boe) Average production 9M 2020 vs 9M 2021 Average production Q3 2020 vs Q3 2021 9M 2020 62,750 62,500 Q3 2020 63,000 63,200 9M 2021 Q3 2021 32,400 33,300 29,600 29,200 31,900 34,000 30,500 29,200 750 0 600* 0 Group Egypt KRI EBGDCO Group Egypt KRI EBGDCO F
Slide 8: Egypt: Programme Overview
Egypt: Programme Overview SPA with IPR Wastani - termination Agreed to sell onshore assets to IPR Wastani in Oct 2020 Board decided to terminate agreement in April 2021 in the best interest of the Dana Gas shareholders IPR initiated arbitration at LCIA, – Tribunal decision overwhelmingly in fa
Slide 9: KRI: Energising the country
KRI: Energising the country Ambitious programme to increase daily production to 900 MMscf and 35,000 bbl Operations Operations continued as normal Health and safety measures in place; high levels of vaccination Produced 34,000 boepd in 9M 2021 (148 MMscf of gas; 5,250 bbl/d of condensate and 3
Slide 10: Arbitration Update
Arbitration Update UAE Gas Project At the end of Q3, the Company received an update from Crescent Petroleum regarding the issuance of the final award for damages in the first arbitration against NIOC which was initiated in 2009, pursuant to which a merit liability award on liability was already ma
Slide 11: 2. Financial Update
2. Financial Update
Slide 12: Financial Highlights
Financial Highlights Gross Revenue ($mm) Gross Profit and EBITDA ($mm) 350 334 2020 2021 2020 2021 300 200 179 262 250 146 200 110 150 100 118 69 81 54 55 100 33 50 15 0 0 9M Q3 9M EBITDA 9M Gross Profit Q3 EBITDA Q3 Gross Profit Adjusted Net Profit ($mm) Net Profit ($mm) 300 279 Q3 2021 9M 2021 202
Slide 13: CAPEX & OPEX
CAPEX & OPEX G&A / OPEX (million USD) CAPEX (million USD) G&A OPEX 56 52 54 55 52 55 127 123 41 41 45 107 91 23 63 15 16 15 56 13 12 11 9 47 7 37 2015 2016 2017 2018 2019 2020 9M 9M 9M 2019 2020 2021 2017 2018 2019 2020 9M 18 9M 19 9M 20 9M 21 G&A / OPEX CAPEX Company continues to optimise costs
Slide 14: Cash Flow, Liquidity & Receivables
Cash Flow, Liquidity & Receivables Positive FCF - $135mm Free Cash Flow (mm$) 9M cash balance of $200mm vs. $108mm FY’20; excellent cash management • Cash Dividend of $105mm paid in May 450 • $123mm of cash held at Pearl Petroleum 135 315 Secured $90mm credit facility at favorable terms 245 25
Slide 15: 4. Summary
4. Summary
Slide 16: Summary
Summary One of the strongest sets of financial results • Revenue, gross profit and net profit significantly higher, driven by rising oil prices and improved operational performance. • The 9m Net Profit of $279 million is a Company record • Financial performance is supported by consistent levels of
Slide 17: Reach Us: Dana Gas PJSC
Reach Us: Dana Gas PJSC P. O. Box 2011, Sharjah, UAE www.danagas.com E-mail : [email protected] Direct : +971 6 519 4401