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China Petroleum & Chemical Corporation Q1-Q3 2005 Results Announcement 28 October 2005.

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Presentation on theme: "China Petroleum & Chemical Corporation Q1-Q3 2005 Results Announcement 28 October 2005."— Presentation transcript:

1 China Petroleum & Chemical Corporation Q1-Q Results Announcement 28 October 2005

2 Disclaimer As required by the CSRC, financial statements of the first three quarters of Sinopec Corp. (the “Company”) were prepared under PRC Accounting Rules and Regulations. The Company has adjusted part of the financial data in accordance with the International Financial Reporting Standards hereby for the reference of international investors. Financial data of the first three quarters contained in the presentation and presentation materials are unaudited. The presentation and presentation materials include forward-looking statements. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects or anticipates will or may occur in the future (including but not limited to projections, targets, estimates and business plans) are forward-looking statements. The Company's actual results or developments may differ materially from those indicated by these forward-looking statements as a result of various factors and uncertainties, including but not limited to price fluctuations, actual demand, exchange rate fluctuations, exploration and development outcomes, estimates of proved reserves, market shares, competition, environmental risks, changes in legal, financial and regulatory frameworks, international economic and financial market conditions, political risks, project delay, project approval, cost estimates and other risks and factors beyond the Company’s control. In addition, the Company makes the forward-looking statements referred to herein as of today and undertakes no obligation to update these statements.

3 Market Environment in Q1-Q3 China’s economy maintained steady growth with GDP up 9.4% in Q3 Domestic demand for refined oil products and chemical products maintained growth Crude oil price experienced a record high Price control on refined oil products remained in effect Prices of petrochemical products stayed at high level

4 RMB million Turnover and other operating revenues 592,588439, EBITDA70,01769, EBIT47,17646, Profit for the period 30,63531, Minority interests 2,3863, Attributable to equity holders of the parent 28,24927, EPS (RMB) Q1-Q3 ‘05Q1-Q3 ‘04Change % EBIT by Segment (RMB million ) Operating Results

5 Financial Highlights RMB million Short-term debt36,10332,307 Long-term debt76,49460,822 Equity attributable to equity holders of the parent210,885193,040 Cash flow from operating activities 40,759 Cash flow for investing activities-44,443 Cash flow from financing activities2,546 Cash & cash equivalents - ending balance15,228 As of 30 Sep. 2005As of 31 Dec Q1-Q3 ‘05

6 E & P Operating Summary Crude Production (million tonnes) Gas Production (billion cubic meters) Crude Realized Price (USD/bbl) Gas Realized Price (USD/’000 cubic feet) Lifting Cost (USD/bbl) EBIT (RMB million)31,836 17, Q1-Q3 ‘04Change % Q1-Q3 ‘05 Note: 1 tonne = 7.1 barrel , 1 cubic meter = cubic feet Prices for Q1-Q were converted at USD 1=RMB 8.28, while for Q1-Q were at weighted average rate.

7 Refining Operating Summary (million tonnes) Crude Oil Throughput Gasoline Production Diesel Production Light Chemical Feedstock Production Kerosene Production Light Yield (%) bps Refining Yield (%) bps Q1-Q3 ‘04Change % Q1-Q3 ‘05

8 Refining Segment Performance Refining Margin/ Cash Operating Cost Refining Segment EBIT (RMB million) (USD/bbl)

9 Marketing Operating Summary Domestic sales of refined oil product (million tonnes) Incl. Retail (million tonnes) Distribution (million tonnes) Total number of gas stations (site)30,58331, % Incl. Self-operated stations (site)27,04825, % Franchised stations (site) 3,5355, % Annualized throughput of self-operated stations (tonnes/station) 2,2772, % Q1-Q3 ‘04Change % Q1-Q3 ‘05

10 Marketing Segment Performance RON #90 Gasoline Guidance Price #0 Diesel Guidance Price RMB/Tonne (RMB million) EBIT of Marketing Segment

11 Chemicals Operating Summary (thousand tonnes) Ethylene 3,849 2, Synthetic Resins5,547 4, Incl. Performance Compound2,559 2, Synthetic Rubber Synthetic Fiber Monomer & Polymer4,929 4, Synthetic Fiber1,161 1, Incl. Differential Fiber Urea 1,450 2, Q1-Q3 ‘04Change % Q1-Q3 ‘05

12 Chemicals Segment Performance EBIT of Chemicals Segment Chemicals Price Spread ( Oct. 2005) RMB million USD/tonne

13 Capital Expenditure E & P – RMB bn, newly added crude production capacity of 2.98 million tonnes/year and gas production capacity of 570 million cubic meters/year Refining – RMB bn upgrading capacity expansion projects were on schedule some of which already in operation Marketing – RMB bn, construction of oil pipeline in south-western China is close to completion, newly added 742 self-owned stations Chemicals – RMB bn, revamping projects incl. Maoming ethylene progressing smoothly Corporate & Others – RMB bn In addition, RMB bn invested in Shanghai- Secco, BASF-YPC and other JV projects Q1-Q Capex: RMB bn Q1-Q Capex Breakdown

14 For Further Information Investor Relations Beijing:Tel: (8610) Fax: (8610) Hong Kong:Tel: (852) Fax: (852) New York:Tel: (212) Fax: (212) Media Relations Tel: (8610) Fax: (8610)


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