Presentation on theme: "China Petroleum & Chemical Corporation Q1-Q3 2005 Results Announcement 28 October 2005."— Presentation transcript:
China Petroleum & Chemical Corporation Q1-Q3 2005 Results Announcement 28 October 2005
2005-10-28 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.
2005-10-28 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
2005-10-28 4 RMB million Turnover and other operating revenues 592,588439,65234.79 EBITDA70,01769,7490.38 EBIT47,17646,3941.69 Profit for the period 30,63531,145-1.64 - Minority interests 2,3863,605-33.81 - Attributable to equity holders of the parent 28,24927,5402.57 EPS (RMB)0.3260.3182.57 Q1-Q3 ‘05Q1-Q3 ‘04Change % EBIT by Segment (RMB million ） Operating Results
2005-10-28 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. 2004 Q1-Q3 ‘05
2005-10-28 6 E & P Operating Summary Crude Production (million tonnes)29.19 28.80 1.35 Gas Production (billion cubic meters)4.53 4.31 5.10 Crude Realized Price (USD/bbl) 43.33 31.63 36.99 Gas Realized Price (USD/’000 cubic feet) 2.27 2.07 9.66 Lifting Cost (USD/bbl)7.29 6.35 14.80 EBIT (RMB million)31,836 17,432 82.63 Q1-Q3 ‘04Change % Q1-Q3 ‘05 Note: 1 tonne = 7.1 barrel ， 1 cubic meter = 35.31 cubic feet Prices for Q1-Q3 2004 were converted at USD 1=RMB 8.28, while for Q1-Q3 2005 were at weighted average rate.
2005-10-28 12 Chemicals Segment Performance EBIT of Chemicals Segment Chemicals Price Spread (1990 - Oct. 2005) RMB million USD/tonne
2005-10-28 13 Capital Expenditure E & P – RMB 15.013 bn, newly added crude production capacity of 2.98 million tonnes/year and gas production capacity of 570 million cubic meters/year Refining – RMB 6.839 bn upgrading capacity expansion projects were on schedule some of which already in operation Marketing – RMB 9.182 bn, construction of oil pipeline in south-western China is close to completion, newly added 742 self-owned stations Chemicals – RMB 4.777 bn, revamping projects incl. Maoming ethylene progressing smoothly Corporate & Others – RMB 0.672 bn In addition, RMB 2.313 bn invested in Shanghai- Secco, BASF-YPC and other JV projects Q1-Q3 2005 Capex: RMB36.483 bn Q1-Q3 2005 Capex Breakdown
2005-10-28 14 For Further Information Investor Relations Beijing:Tel: (8610) 64990060 Fax: (8610) 64990489 Email: firstname.lastname@example.org Hong Kong:Tel: (852) 28242638 Fax: (852) 28243669 Email: email@example.com New York:Tel: (212) 759 5085 Fax: (212) 759 6882 Email: firstname.lastname@example.org Media Relations Tel: (8610) 64990092 Fax: (8610) 64990093 Email: email@example.com http://www.sinopec.com