Commentary - Santos

More documents

Recommendations

Info

Operating and financial highlights Production 52.1 mmboe Ç10% Sales Revenue $3,220 million Ç18% EBITDAX (excluding asset sales) $1,869 million Ç17% 2012 2011 % change Production volume (mmboe) 52.1 47.2 10 Sales volume (mmboe) 61.0 58.7 4 Sales revenue ($million) 3,220 2,721 18 EBITDAX (excluding asset sales) ($million) 1,869 1,597 17 Net profit after tax ($million) 519 753 (31) Underlying net profit after tax ($million) 606 453 34 Operating cash flow ($million) 1,658 1,253 32 Earnings per share (cents) 54.4 84.8 (36) Dividends declared per ordinary share (cents) 30 30 - Proved and probable reserves (mmboe) 1,406 1,364 3 PRODUCTION VOLUME 52.1 mmboe 54.4 54.4 2008 2009 49.9 47.2 2010 2011 Production increased 10%, driven by new producing assets combined with strong Cooper oil production. 52.1 2012 SALES VOLUME 61.0 mmboe 55.8 60.1 59.2 58.7 61.0 2008 2009 2010 2011 2012 Sales volumes increased 4%, with higher equity production offsetting lower third-party gas sales. 2
Operating cash flow $1,658 million Net profit after tax $519 million Underlying net profit after tax $606 million Ç32% È31% Ç34% OPERATING CASH FLOW $1,658 million 1,658 NET PROFIT AFTER TAX $519 million UNDERLYING NET PROFIT AFTER TAX $606 million 1,385 1,155 1,273 1,253 1,650 434 500 753 519 548 257 376 453 606 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 Operating cash flow increased 32%, due to higher sales receipts and lower taxes paid, partially offset by higher operating costs. Net profit after tax was 31% lower, as the prior year included $408 million from the sale of interests in GLNG and Evans Shoal. Underlying net profit increased by 34%, with higher liquids volumes and gas prices partially offset by higher production costs. SALES REVENUE $3,220 million EARNINGS & DIVIDENDS PER SHARE 54.4 cents SAFETY PERFORMANCE 5.0 total recordable case frequency rate (per million hours worked) 2,762 2,181 2,228 2,721 3,220 251 5.8 3.6 3.3 3.3 5.0 2008 2009 2010 2011 2012 42 52 42 2008 2009 85 60 54 37 30 30 2010 2011 2012 2008 2009 2010 2011 2012 Earnings per share Dividends declared per share Sales revenue increased by 18%, driven by a 33% increase in crude oil production and higher gas prices. The total 2012 dividend of 30 cents per share is in line with the prior year. The rate of low severity injuries increased in 2012, reflecting a record 19 million work hours, however the overall injury severity decreased. <strong>Santos</strong> Annual Report 2012 3
Page 1 and 2: Annual Report 2012 The energy to de
Page 3 and 4: World of Santos Ref Location Site/A
Page 5: Contents Overview 2 Operating and f
Page 9 and 10: Review by Peter Coates and David Kn
Page 11 and 12: Our vision and strategy Our vision
Page 13 and 14: Production and sales Santos continu
Page 15 and 16: RESERVES (SANTOS SHARE) mmboe Year-
Page 17 and 18: NET PROFIT AFTER TAX $million AVAIL
Page 19 and 20: 2012 key statistics GREENHOUSE GAS
Page 21 and 22: Eastern Australia Positioned for gr
Page 23 and 24: On board the Mutineer-Exeter FPSO,
Page 25 and 26: GLNG Construction well underway on
Page 27 and 28: Pipelay underway at the Dua oil pro
Page 29 and 30: Jane Sharman Hemstritch BSc (Hons),
Page 31 and 32: DAVID KNOX Chief Executive Officer
Page 33 and 34: Principle 4 - Safeguard integrity i
Page 35 and 36: DEFINING REQUIRED SKILLS AND EXPERI
Page 37 and 38: Internal Board Review process Imple
Page 39 and 40: 2.2 Indemnity, access to informatio
Page 41 and 42: Regular meetings held with auditors
Page 43 and 44: 4.3 Examples of business risks Exam
Page 45 and 46: 4.4 Independence of auditors and no
Page 47 and 48: The Company remains committed to at
Page 49 and 50: Organisation chart BOARD COMMITTEES
Page 51 and 52: As at 31 December 2003 2004 2005 20
Page 53 and 54: Directors’ Report The Directors p
Page 55 and 56: Principal Activities The principal
Page 57 and 58:
Asia Pacific Asia Pacific Business
Page 59 and 60:
Dividends On 22 February 2013, the
Page 61 and 62:
Shares Issued on the Exercise of Op
Page 63 and 64:
The Company believes that the addit
Page 65 and 66:
Remuneration Governance People and
Page 67 and 68:
Long-term Incentives (“LTI”) Th
Page 69 and 70:
Long-term Incentives How much annua
Page 71 and 72:
Senior Executive Remuneration Overv
Page 73 and 74:
Table 7: Non-executive Directors’
Page 75 and 76:
Table 9 contains details of the num
Page 77 and 78:
Details of the fees and other benef
Page 79 and 80:
Long-term incentives How are long-t
Page 81 and 82:
Index A Announcements 173 Annual G
Page 83 and 84:
Major announcements made in 2012 13
show all

Commentary - Santos

Create successful ePaper yourself

Delete template?

Save as template?