Estimation of selected operating data of the UNIPETROL Group for the second quarter 2008
UNIPETROL’s Management Board (“UNIPETROL”) hereby announces its estimates of the selected financial and operational data of UNIPETROL Capital Group for the second quarter 2008.
| Macroeconomic data | unit | 2Q 07 | 3Q 07 | 4Q 07 | 1Q 08 | 2Q 08 | Q/Q | Y/Y |
| Average Brent crude oil price | USD/b | 68.76 | 74.75 | 88.46 | 96.72 | 121.19 | 25.3% | 76.3% |
| Average Ural crude oil price | USD/b | 65.04 | 71.98 | 85.42 | 93.36 | 117.47 | 25.8% | 80.6% |
| URAL/Brent differential | USD/b | 3.72 | 2.77 | 3.04 | 3.36 | 3.72 | 10.7% | 0% |
| UNIPETROL model refining margin 1 | USD/b | 10.66 | 6.85 | 7.63 | 6.84 | 11.65 | 70.3% | 9.3% |
| UNIPETROL model petrochemical olefin margin 2 | EUR/t | 376.02 | 354.33 | 278.11 | 324.24 | 279.87 | -13.7% | -25.6% |
| UNIPETROL model petrochemical polyolefin margin 3 | EUR/t | 355.15 | 355.25 | 323.07 | 279.59 | 242.02 | -13.4% | -31.9% |
| CZK/EUR 4 | CZK | 28.26 | 27.92 | 26.82 | 25.56 | 24.82 | -3% | -12.2% |
| CZK/USD 4 | CZK | 20.97 | 20.33 | 18.51 | 17.05 | 15.88 | -7% | -24.3% |
1) UNIPETROL model refining margin = revenues from products sold (95.5% Products = Premium Unleaded 23.4%, Regular Unleaded 15.5%, Jet/Kerosene 8.3%, Diesel 33.3%, 1% Sulphur Fuel Oil 12.9%, Propane 1.5%, Butane 0.3%, Sulphur 0.4%) minus costs (100% input = Brent Dated);; products prices according to quotations.
2) UNIPETROL model petrochemical olefin margin = revenues from products sold (100% Products = 50% Ethylene + 50% Benzene) minus costs (100% Naphtha); products prices according to quotations.
3) UNIPETROL model petrochemical polyolefin margin = revenues from products sold (100% Products = 60% HDPE + 40% Polypropylene) minus costs (100% input = 60% Ethylene + 40% Propylene); products prices according to quotations.
4) Quarterly average foreign exchange rates in accordance to the Czech National Bank.
Source: ICIS, PLATTS, FERTWEEK, THOMSONREUTERS
Operating data:
| Sales in UNIPETROL Group | unit | 2Q 07 | 3Q 07 | 4Q 07 | 1Q 08 | 2Q 08 | Q/Q | Y/Y |
| Petrochemicals volume: of which | th t | 412 | 342 | 251 | 407 | 422 | 3.7% | 2.4% |
| - ethylene | th t | 51* | 32 | 23 | 38 | 43 | 13.2% | -15.7% |
| - benzene | th t | 52* | 41 | 18 | 43 | 50 | 16.3% | -3.8% |
| - polyethylene | th t | 69 | 70 | 58 | 73 | 95 | 30.1% | 37.7% |
| - polypropylene | th t | 52 | 48 | 36 | 49 | 55 | 12.2% | 5.8% |
Operating data:
| Sales in UNIPETROL Group | unit | 2Q 07 | 3Q 07 | 4Q 07 | 1Q 08 | 2Q 08 | Q/Q | Y/Y |
| Motor fuels wholesale | th t | 745 | 676 | 631 | 665 | 753 | 13.2% | 1.1% |
| Retail sales | th t | 129 | 132 | 128 | 114 | 129 | 13.2% | 0% |
| Petrochemical sales | th t | 412 | 342 | 251 | 407 | 422 | 3.7% | 3.7% |
* Kaucuk (Synthos) as external in 2Q 2007 for comparison reasons
Source: UNIPETROL data and estimates
Management Board statement regarding preliminary operating and macroeconomic data for the second quarter 2008: “Further grow of crude oil prices continued impacting UNIPETROL results in both refining and petrochemical segments. The performance of our petrochemical segment (mainly benzene, ethylene and polyolefins) suffered by low margins and ongoing strengthening of CZK versus EUR in the second quarter 2008.”
UNIPETROL Management Board estimates that reported EBIT of UNIPETROL Group in the second quarter 2008 is likely to be at the comparable level as the EBIT reported by UNIPETROL Group in the first quarter 2008.
All information published in this report is an estimate and the values may differ from the values which are to be published on 13 August 2008 in UNIPETROL consolidated financial statements and/or presentation for the second quarter 2008.
In Prague, 18 July 2008
Management Board of UNIPETROL
Reg. Announc. No. 018/2008
18 Jul 2008
