Statoil Fuel & Retail capital markets day
(Thomson Reuters ONE) -
29 November 2011 - Statoil Fuel & Retail ASA ("Statoil Fuel & Retail", ticker:
SFR) hosts its Capital Markets Day in Oslo today. The presentation material will
be available at www.statoilfuelretail.com from 07:30 CET. A link to a live
webcast of the event will be posted on the same website at 08:00 CET.
A leader in transforming fuel retailing, Statoil Fuel & Retail has few peers
after becoming an independent stock listed company in October 2010.
"As a separately listed company from Statoil ASA, we are entirely focused on the
downstream customer business opportunity. We have made real progress over the
last twelve months -- optimising our complete fuel value chain, strengthening
our brand, developing a market leading convenience offering and maintaining
tight control over our costs" says Jacob Schram, CEO Statoil Fuel & Retail.
Highlights of today's presentation include:
One year after the IPO at Oslo stock exchange, the strategic direction of the
company remains the same. However, based on a strong operational excellence
track record, Statoil Fuel & Retail will strengthen its efforts within
innovation and sales in the years to come. Statoil Fuel & Retail has the
following strategic objectives:
* Grow the Statoil Fuel & Retail business and optimise shareholder value
* Be recognised by our customers as an innovative, European fuel retailer
* Become a leading European retailer within sales
* Create a culture of simplification, lean operations and cost efficiency
* Improve capital efficiency
* Attract, retain and develop passionate fuel and retail professionals
Statoil Fuel & Retail's leading brand and market presence in Scandinavia
provides an attractive exposure to a strong consumer base. The financial
performance in Scandinavia has improved through rationalisation of the service
station network, cost savings and micro market pricing. As reported in the third
quarter 2011, this has been accomplished even though competition has
intensified. Statoil Fuel & Retail will continue to strengthen its position with
new stations, covering attractive white spots. Development of the convenience
offer will continue, building on strong loyalty concepts and seeking further
improvement in the product mix and profitability.
The long term outlook for Central & Eastern Europe remains positive despite
depressed margins in the third quarter. Statoil Fuel & Retail has a robust
platform for further profitable growth in Central & Eastern Europe, aiming at
expanding the network presence. The company will meet the challenging market
conditions experienced over the last few quarters by continued focus on lean
operations, strong execution of micro market pricing and development of a
distinct product offering. During the past few weeks it has been noted that pump
prices in Poland are reflecting a more rational behaviour by the major players,
however the market situation remains challenging.
Statoil Fuel & Retail's medium term financial targets are as follows:
* After tax return on capital employed above 13 percent, to be achieved
through organic growth of 50-60 new stations per year of which 40-50 will be
in Central and Eastern Europe, delivering on the cost saving programme of
NOK 450 million and an ambition to reduce working capital by NOK 500
million.
* Maintain a capital structure in line with an investment grade profile.
Statoil Fuel & Retail targets the ratio of total debt to adjusted EBITDA in
the interval 1.5-2.5. The ratio may be higher or lower for limited periods
of time. Statoil Fuel & Retail aims to improve the debt structure by
utilising diversified financing sources and extending the maturity profile.
A variety of funding sources including asset backed loans, private
placements, bond markets and bank loans will be considered.
The real estate asset management project is progressing according to plan.
Indicative market valuations of the Scandinavian service stations, where both
the building and land are owned by the company, amount to NOK 6-7 billion. The
corresponding book value of these assets was approximately NOK 2 billion as of
31.12.2010.
Non-strategic assets with a book value of approximately NOK 100 million, and
indicative market value of NOK 400-500 million, will be optimised from a value
perspective and prepared for sale. Statoil Fuel & Retail will consider
appropriate measures for the terminals and remaining parts of the property
portfolio in 2012.
Statoil Fuel & Retail has the ambition of establishing a property holding
structure in 2014. The new holding structure will provide a flexible platform
for value creating transactions, such as sale-leaseback and/or co-investment
vehicles, within an investment grade profile.
Please find the Statoil Fuel & Retail capital markets day 2011 presentation at
the bottom of the page
For more information
Media: Karen Romer, SVP Communications, Statoil Fuel & Retail ASA, Tel :
+47 950 74 950,karrom(at)statoilfuelretail.com
Investor Relations: Mitra Hagen Negård, SVP Investor Relations, Statoil Fuel &
Retail ASA, Tel: +47 95 79 36 31,mine(at)statoilfuelretail.com
About Statoil Fuel & Retail
Statoil Fuel & Retail is a leading Scandinavian road transport fuel retailer
with over 100 years of operations experience in the region. The company has a
broad retail network across Scandinavia, Poland, the Baltics, and Russia with
approximately 2,300 full-service (fuel and convenience) or automated (fuel only)
stations.
Statoil Fuel & Retail's other products include stationary energy, marine fuel,
aviation fuel, lubricants and chemicals. In Europe, Statoil Fuel & Retail
operates 12 key terminals, approximately 400 road tankers and 50 depots in eight
countries. The company also delivers aviation fuel at 85 airports in nine
countries and produces and sells 750 different lubricant products.
Approximately 17,000 people work at Statoil Fuel & Retail's sites across Europe.
This includes employees at Statoil's branded franchise stations. About 2,400
people work in the corporate headquarters, eight national headquarters and at
terminals and depots.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
SFR CMD2011 presentation:
http://hugin.info/143728/R/1567211/486813.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Statoil Fuel & Retail ASA via Thomson Reuters ONE
[HUG#1567211]
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: hugin
" alt="International Enexco Commences Drilling at Contact Copper Project, NevadaDatum: 29.11.2011 - 07:31 Uhr
Sprache: Deutsch
News-ID 91710
Anzahl Zeichen: 7613
contact information:
Town:
OSLO
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 233 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Statoil Fuel & Retail capital markets day"
steht unter der journalistisch-redaktionellen Verantwortung von
Statoil Fuel & Retail ASA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
