Dana Gas PJSC · ADX:DANA
Dana Gas PJSC — FY2019 Earnings Presentation
17 slides from Dana Gas PJSC's earnings presentation, Feb 12, 2020
Slide 1: Clean Energy for the Future: FY 2019 Financial Results
Clean Energy for the Future FY 2019 –Financial Results 12 February 2020 1
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 Highlights 2 Operational Update 3 Financial Update 4 Summary 3
Slide 4: 1. Highlights
1. Highlights 4
Slide 5: FY 2019: Highlights
FY 2019: Highlights Production: Group output 66,200 boepd – up 5% Y-o-Y Operations Kurdistan Regin of Iraq: production up 18% to 31,500boepd, driven by full year production from debottlenecking project (Q418); new 20yr GSA signed to support 2nd phase gas train production expansion, facilitate pr
Slide 6: 2. Operation Update
2. Operation Update 6
Slide 7: Average Production & Average Realized Prices
Average Production & Average Realized Prices Production (boepd) FY 2019 Vs FY 2018 Production (boepd) Q4 19 Vs Q4 18 65,450 66,200 62,200 63,050 FY 2018 Q4 2018 FY 2019 Q4 2019 34,450 34,500 33,000 31,000 30,600 31,500 29,200 26,650 1,100 700 1,200 1,000 700 700 0 600 Group Egypt KRI UAE EBGDCO Grou
Slide 8: Egypt: Programme Overview
Egypt: Programme Overview Strategic Review Possible sale of our assets – bids received; evaluation underway Quality of assets excellent – producing onshore; material exploration potential offshore Matter of portfolio management – if the price is not right we remain committed to operate the ass
Slide 9: KRI: Expansion plans underway
KRI: Expansion plans underway 10%+ increase in 2P reserves Recent certification of reserves has increased the Company’s 2P reserves by 10% to 1,087 mmboe Future Growth Plans Signed a 20-year Gas Sales Agreements with the KRG to facilitate the production and sale of an additional 250 MMscf/d Tw
Slide 10: Arbitration Update
Arbitration Update UAE Gas Project To date no damages claim award has been made by the Tribunal and Dana Gas has not received any updates as to when this may happen Crescent Petroleum commenced a new arbitration to address damage claims from 2014 until the end of the contract in 2030 MOL (Pearl
Slide 11: 3. Financial Update
3. Financial Update 11
Slide 12: Financial Highlights
Financial Highlights Gross Revenue ($mm) Like-for-like profit ($mm) 600 500 470 459 2019 2018 400 Adjusted Profit before one off 115 64 items 300 2018 200 Impairment (66) (250) 2019 100 Earn out and deferred income 108 - 0 Reported Net Profit /(Loss) 157 (186) Gross Profit ($mm) Net Profit ($mm) 150
Slide 13: CAPEX & OPEX
CAPEX & OPEX G&A / OPEX ($m) CAPEX ($m) G&A OPEX 56 54 234 52 55 52 122 127 106 23 15 16 15 47 13 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 G&A / OPEX CAPEX G&A and OPEX for the full year totaled $70m, a level $70m in Egypt and $57m in KRI below which costs have been maintained since 201
Slide 14: Liquidity & Receivables
Liquidity & Receivables Year-end cash of $425m – 4% higher $105m dividend payment in May 2019 Egypt Receivables (mm $) Billing 200% $8m in share- and $7m in Sukuk- buyback 225 Collection % 173% Collected $285m in FY 2019 111% 129% 127% 150% • $138m in Egypt 150 121% 64% $mm 100% • $139m in K
Slide 15: 4. Summary
4. Summary
Slide 16: Summary
Summary • We delivered a strong set of financials for the year • Net profit is $157 million; and like-for-like is $115 million – 80% higher 1 • Our profits is at their highest level in 7 years. • Launched a Strategic Review, which may lead to the sale of the Egypt assets • Decision is a matter of po
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