1 Supporting Material for First Quarter Results April
Notes This document contains forward-looking statements concerning the results of operations and businesses of Showa Shell Sekiyu K.K.. Forward-looking statements are statements of future expectations that are based on management s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements.
Highlights of 1Q / Crude oil price & Exchange 9 Results 9 Results Results Jan-Mar Jan-Mar Dubai crude oil price (US $/bbl) 61.9 44. 76. Exchange rate ( /US $) 9.6 9.8 9.7 Consolidated profit and loss 9 Results Results Jan-Mar Jan-Mar Changes vs. 9 (%) Sales proceeds million yen 498,1 6,61 + 11,7 +.% Operating income million yen -7,1,79 + 8,814 - Ordinary income million yen -71,8 1,77 + 8,4 - Net income million yen -4,41 8,1 + 1,49 - CCS operating income million yen 1,6 4,4-8,78-66.9% CCS ordinary income million yen 11,8 7,87-4,1-8.% Notes CCS ordinary income(ordinary income on Current Cost of Supply basis) :Ordinary income based on the cost excluding inventory valuation effects.
Key points for the first quarter of 4 The consolidated sales for this period amounted to 6.6 billon yen(a.% increase compared to the same period a year ago), and ordinary income was 1.7 billion yen (an increase of 8. billion yen compared to the same period a year ago). The consolidated CCS(ordinary profit excluding the impact of inventory valuation) was 7. billion yen. With regard to the sales of the oil products, the ordinary profit declined by 14. billion yen compared to the result of the same period a year ago due to the margin decrease. With regard to the petrochemical business, the ordinary profit increased by.7 billion yen compared to the result of same period a year ago due to the recovery of margin derived from the demand expansion in Asia especially in China. The sales volume of gasoline reached the same level as the previous year during this period. On the other hand, middle distillate volume decreased because of sales focusing on profitability. Export volume increased by 17% from the result of same period year ago. Cost transfer to the whole-sale price had been difficult during the first quarter, however this situation became better toward end of the period due to the improvement of supply-demand outlook derived from the reducing production policy implemented by oil industry.
Ordinary Income 9 1Q vs. 1Q (Unit:Billion Yen) Consolidated **Stock effect etc. Ordinary Profit +8 (CCS CCS) 46 *CCS 118 14 Margin (Main fuel etc.) +7 Margin (Chemical) +1 MF cost +1 M&A +1 Subsidiaries +6 +4 Non-ope. improvement *CCS 17 7 **Stock effect etc. 71 81 Unconsolidated* *including adjustments for consolidated results 9 1Q 1Q CCS: Current Cost of Supply Excluding the effect of inventory valuation
Crude oil refined and Sales volume 6 Crude oil refined & Utilization rate 6 7 8 9 Jan-Mar Crude oil refined (thousand KL) 7,4 8,41 6,784,84 6,778 Refinery utilization rate (%) 9.% 9.1% 89.4% 86.% 9.% Sales volume by products 9 Results Results Jan-Mar Jan-Mar VS 9(%) Gasoline (thousand KL),46,8 -.4% Jet Fuel (thousand KL) 499-6.7% Kerosines (thousand KL) 1,64 1,8-14.% Diesel Oil (thousand KL) 1,144 1,76 -.9% Fuel Oil A (thousand KL) 7 44-6.% Fuel Oil C (thousand KL) 46-4.1% Others (thousand KL) 1,44 1, -.7% Export (thousand KL) 491 1,116 + 17.% Total (thousand KL) 8,16 7,98-1.8% Notes Others excludes cargo trade (trading business was integrated to the Shell Group in August 7).
Forecast of full year results for 7 Same as a announcement of February. Crude oil price & Exchange rate 9 Results Forecast for Jan-Jun Jul-Dec Jan-Dec Dubai crude oil price (US $/bbl) 61.9 7 7 7 Exchange rate ( /US $) 9.6 9 9 9 Consolidated financial results 9 Results Forecast for changes vs. 9 (%) Sales proceeds million yen,,,7, + 47,48 +17.% Operating income million yen -7,14 4, + 61,14 - Ordinary income million yen -6,4, + 61,9 - Net income million yen -7,619 1, + 8,619 - CCS operating income million yen -1,78 4, + 16,78 - CCS ordinary income million yen -11,691, + 17,191 -
Data Book 8
Crude oil price 9 The Dubai crude oil price USD/bbl 1 8 9 116.7 $/bbl 1 91. $/bbl 11.6 $/bbl 9 7 7.4 $/bbl 76. $/bbl 67.8 $/bbl 9. $/bbl.8 $/bbl 44. $/bbl FY Ave. $94. FY Ave. $61.9 1 4 6 7 8 9 11 1 1 4 6 7 8 9 11 1 1
Exchange rates yen/usd 11 1 8.yen/$ 4.6yen/$ 7.7yen/$ 9 96.4yen/$ 97.4yen/$ 9.7yen/$ 9 9.8yen/$ 89.7yen/$ 9.7yen/$ 9 8 8 FY Ave.yen/$ FY Ave 9.6yen/$ 1 4 6 7 8 9 11 1 1 4 6 7 8 9 11 1 1
Domestic Market (1) : Regular gasoline 11 Crude & Products price /L Spread /L 1 8 9 4 8 Regular gasoline (Spot price) 6 4 CIF 1 Spread (Spot price-cif) - 8/1 4 6 7 8 9 11 1 9/1 4 6 7 8 9 11 1 /1
Domestic Market Market Conditions (): : Diesel oiloil 1 Crude & Products price /L Spread /L 1 8 9 4 8 Diesel oil (Spot price) 6 4 CIF 1 Spread (Spot price-cif) - 8/1 4 6 7 8 9 11 1 9/1 4 6 7 8 9 11 1 /1
Global Market (1) : Diesel Oil 1 $/bbl 1 8 9 Spread$/ bbl 6 Diesel oil (Asian Spot price) 4 Dubai Spread (Spot price Dubai) - 8/1 4 6 7 8 9 111 9/1 4 6 7 8 9 111 /1
Global Market () : Mixed Xylene 14 $/MT Spread$/MT 14 1 8 年 9 8 7 8 Mixed Xylene (Asian spot price) 6 4 6 4 Dubai Spread (Spot price Dubai) 8/1 4 6 7 8 9 11 1 9/1 4 6 7 8 9 11 1 /1