Dana Gas PJSC · ADX:DANA
Dana Gas PJSC — Q1 2021 Earnings Presentation
17 slides from Dana Gas PJSC's earnings presentation, May 10, 2021
Slide 1: Clean Energy for the Future: Q1 2021 Financial Results
Clean Energy for the Future Q1 2021 –Financial Results 10 May 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 – Q1 2021
Snapshot – Q1 2021 Operations Financials Group operations continued un-interrupted Net Profit of $24m – 41% higher (Q1’20: $17m) Q1 Group production 2% higher at 64,900 boepd Revenue of $106m – 2% higher (Q1’20: $104m) • Q1 KRI production up 9% to 35,300 boepd • Due to higher production in K
Slide 6: 3. Production & Country Performance
3. Production & Country Performance
Slide 7: Production (boepd) & Realized Prices ($/boe)
Production (boepd) & Realized Prices ( $/boe) Average production Q1 2021 Vs Q1 2020 Average production Q1 2021 Vs Q4 2020 2% 2% Q1 2020 Q4 2020 64,900 63,600 64,900 63,650 Q1 2021 Q1 2021 2% 6% 9% 5% 35,300 33,250 35,300 30,700 32,400 29,700 29,050 29,050 650 550 550 550 Group Egypt KRI EBGDCO Group
Slide 8: Egypt Update
Egypt Update Operations Production decreased 5% to 29,050 boepd in Q1 2021 (139 MMscf of gas; 3,650 bbl/d of condensate and 201 MTPD of LPG) Dana Gas terminated SPA for sale of onshore assets; arbitration initiated by IPR Energy in April 2021 Dana Gas to retain and operate its Egypt onshore as
Slide 9: KRI: Energising the country
KRI: Energising the country Ambitious programme to increase daily production to 940 MMscf and 35,000 bbl Operations Operations continued as normal Production rose 9% in Q1, averaging 35,300 boepd (DG share) Produced 439 MMscf of gas; 15,695 bbl/d of condensate and 1,018 MTPD of LPG in Q1 2021
Slide 10: Arbitration Update
Arbitration Update Sale of Egypt onshore assets Dana Gas exercised its right to terminate SPA to sell its Egypt onshore assets Since the signing of the SPA to sell its Egypt onshore assets, the completion of conditions precedent in the SPA were not realized to the satisfaction of both parties by
Slide 11: 2. Financial Update
2. Financial Update
Slide 12: Financial Highlights
Financial Highlights Gross Revenue ($mm) EBITDA ($mm) 120 Continued operations Discontinued operations Total 106 100 Continued operations Discontinued operations Total 104 100 75 80 52 50 65 50 61 60 35 45 27 25 39 25 15 40 20 0 Q1 2020 Q12021 Q1 2020 Q1 2021 Gross Profit ($mm) Net Profit ($mm) 60 C
Slide 13: CAPEX & OPEX
CAPEX & OPEX G&A / OPEX ($mm) CAPEX ($mm) G&A OPEX 13 12 15 13 43 26 23 4 4 13 3 3 8 Q1 2018 Q1 2019 Q1 2020 Q1 2021 Q1 2018 Q4 2018 Q1 2019 Q1 2020 Q1 2021 G&A / OPEX CAPEX Company continues to optimise costs $8mm in Egypt and $15mm in the KRI G&A maintained at similar levels in Q1 2021 refle
Slide 14: Cash Flow, Liquidity & Receivables
Cash Flow, Liquidity & Receivables Positive FCF - $24mm Free Cash Flow ($mm) $149mm of cash as of 31 March 2021 • Cash Dividend of $105mm – to be paid in May 450 • Decrease in finance cost due to lower borrowing 315 base at Corporate level in Q1 2021 253 245 • $39mm of cash currently held at Pea
Slide 15: 4. Summary
4. Summary
Slide 16: Summary
Summary Strong and resilient operational performance in Q1 2021 • Operations uninterrupted despite difficulty of working through the pandemic • Record production in the KRI on the back of successfully executed bypass projects last year Robust financial health and strong balance sheet. We will co
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