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Galp Energia — Earnings Release 2019
Apr 15, 2019
1908_iss_2019-04-15_142d733e-667a-4624-a07f-165301191c5e.pdf
Earnings Release
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This trading update aims to provide estimated macroeconomic, operational and trading conditions experienced by Galp during the first quarter of 2019.
galp (6) energy creates energy
The margins, prices, production and other data referred to below are averages for the period and currently provisional. All such data is subject to change and may differ from the final numbers, which will be reported on April 29.
Market Indicators
| 1018 | 4Q18 | 1019 | Var. YoY | Var. QoQ7 | |
|---|---|---|---|---|---|
| Exchange rate (EUR/USD) | 1.23 | 1.14 | 1.14 | (8%) | (0%) |
| Dated Brent price (USD/bbl) | 66.8 | 68.8 | 63.1 | (6%) | (8%) |
| Japan/Korea Marker LNG price (USD/mmbtu) | 9.4 | 10.0 | 6.6 | (30%) | (34%) |
| lberian MIBGAS natural gas price (EUR/MWh) | 22.2 | 26.0 | 21.3 | (4%) | (18%) |
| Dutch TTF natural gas price (EUR/MWh) | 21.4 | 24.8 | 18.4 | (14%) | (26%) |
Source: Platts/MIBGAS
Exploration & Production
| 1018 | 4Q18 | 1019 | Var. YoY | Var. QoQ7 | |
|---|---|---|---|---|---|
| Working interest production (kboepd) | 104.1 | 113.1 | 112.6 | 8% | (0%) |
| Oil production (kbpd) | 91.6 | 99.8 | 99.5 | 9% | (0%) |
| Net entitlement production (kboepd) | 102.6 | 111.7 | 110.8 | 8% | (1%) |
| Angola (kbpd) | 5.6 | 8.9 | 8.7 | 56% | (2%) |
| Brazil (kboepd) | 97.1 | 102.9 | 102.1 | 5% | (1%) |
Refining & Marketing
| 1018 | 4Q18 | 1Q19 | Var. YoY | Var. QoQ7 | |
|---|---|---|---|---|---|
| Raw materials processed (mmboe) | 25.2 | 19.3 | 22.6 | (10%) | 17% |
| Galp refining margin (USD/boe) | 3.3 | 4.3 | 2.3 | (30%) | (46%) |
| Refined product sales (mton) | 4.1 | 3.6 | 3.6 | (11%) | 1% |
| Sales to direct clients (mton) | 2.0 | 2.2 | 2.1 | 4% | (2%) |
Gas & Power
| 1018 | 4Q18 | 1019 - - | Var. YoY | / Var. QoQ 7 | |
|---|---|---|---|---|---|
| NG/LNG total sales volumes (mm²) | 1,975 | 1,725 | 1,971 / | (0%) | 14% |
| Sales to direct clients (mm²) | 1,225 | 1,181 | 1,157 | (6%) | (2%) |
| Trading (mm²) | 750 | 544 | 814 | 9% | 50% |
Results presentation
The 1Q19 results will be disclosed to the market on April 29, before the opening of Euronext Lisbon.
The conference call will take place on April 29, at 11:00 a.m. (UK time). To listen to the conference call, please dial in 10 minutes before the scheduled time to ensure your registration. The conference call and webcast details are as follows:
Hosted by
- Carlos Gomes da Silva (CEO)
- . Filipe Silva (CFO)
- =
- =
Dial-in numbers
- =
- Portugal: +351800 812 274
Webcast
▪ https://edge.media-server.com/m6/p/obbs4kz5 (audio stream)
Galp Energia, SGPS, S.A. Investor Relations
Pedro Dias, Head Otelo Ruivo, IRO Cátia Lopes João G. Pereira João P. Pereira Teresa Rodrigues Contacts: Tel: +351 21 724 08 66 Fax: +351 21 724 29 65
Address: Rua Tomás da Fonseca, Torre A, 1600-209 Lisboa, Portugal Website: www.galp.com Email: [email protected]
galp (6) energy creates energy
Reuters: GALP.LS Bloomberg: GALP PL
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