Earnings Research - Statoil

LONDON, March 10, 2015 /PRNewswire/ --

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Investor-Edge.com has issued free earnings research on Statoil A.S.A. (NYSE: STO). On February 06, 2015, the company reported its Q4 FY14 and preliminary full-year FY14 results (period ended December 31, 2014). Click on http://get.Investor-Edge.com/pdf/?c=Statoil&d=10-Mar-2015&s=STO to read our free earnings review on Statoil ASA (Statoil). During Q4 FY14 and FY14, the company's IFRS net operating income was NOK 9.0 billion and NOK 109.5 billion, respectively. Statoil also reported adjusted earnings of NOK 26.9 billion for Q4 FY14 and NOK 136.1 billion for full-year FY14. Our free coverage report can be accessed at:

http://get.Investor-Edge.com/pdf/?c=Statoil&d=10-Mar-2015&s=STO

Earnings Overview 

During Q4 FY14, Statoil's total revenues and other income stood at NOK 152.6 billion compared with NOK 157.1 billion in Q4 FY13. The company's IFRS net operating income declined by NOK 34.9 billion Y-o-Y in Q4 FY14 from NOK 43.9 billion in Q4 FY13. Statoil's Q4 FY14 adjusted earnings fell 36% Y-o-Y, primarily due to significant drop in the liquids

This number was already mentioned in the report.

prices. Furthermore, net loss attributable to equity holders of the company was NOK 8.9 billion, or NOK 2.80 loss per diluted share, in Q4 FY14 compared with net income attributable to equity holders of the company of NOK 14.8 billion, or NOK 4.64 per diluted share, in Q4 FY13. Free research on STO can be downloaded in PDF format at:

http://get.Investor-Edge.com/pdf/?c=Statoil&d=10-Mar-2015&s=STO

Statoil total equity liquids and gas production increased by 8% to 2,103 million barrels of oil equivalent (mboe) per day in Q4 FY14 from 1,945 mboe per day in Q4 FY13. Additionally, the company reported cash flow from operations before taxes paid and working capital items of NOK 40.9 billion in Q4 FY14 compared to NOK 57.3 billion in Q4 FY13.

For FY14, Statoil reported total revenues and other income of NOK 622.7 billion compared to NOK 634.5 billion in FY13. The company's FY14 total revenues and other income missed Bloomberg analysts' expectation of NOK 628.5 billion. The company's IFRS net operating income fell by NOK 46.0 billion Y-o-Y in FY14 from NOK 155.5 billion in FY13. Moreover, Statoil's FY14 adjusted earnings fell 17% Y-o-Y

This number was already repeated in the report.

. Furthermore, net income attributable to equity holders of the company stood at NOK 21.9 billion, or NOK 6.87 per diluted share, in FY14 compared to NOK 39.9 billion or NOK 12.50 per diluted share, in FY13. Bloomberg analysts had expected Statoil to report net income attributable to equity holders of the company of NOK 44.8 billion, or NOK 14.1 per diluted share, in FY14. Sign up and read the free analyst's notes on STO at:

http://get.Investor-Edge.com/pdf/?c=Statoil&d=10-Mar-2015&s=STO

During FY14, Statoil's total equity liquids and gas production was 1,927 mboe per day compared with 1,940 mboe per day in FY13. Furthermore, the company reported cash flow from operations before taxes and working capital items of NOK 208.8 billion in FY14 compared to NOK 218.8 billion in FY13.

President and CEO of Statoil, Eldar Sætre, said that the company's underlying performance and cash flows were solid in 2014, supported by profitable growth, strong operational improvements, and solid marketing- and trading results. The company's financial position is robust, and Statoil maintains a stable dividend, he added. He also asserted that through Statoil's significant flexibility in its investment programme the company is well prepared for continuous market weakness and uncertainty.

Statoil's return on average capital employed after tax (ROACE) for the 12-month period ended December 31, 2014 was 2.7%, compared to 11.3% for the 12-month period ended on December 31, 2013. The company has proposed Q4 FY14 dividend of 1.80 NOK per share, with the intention to maintain a flat dividend for the first three quarters of FY15.

Regarding its  outlook, Statoil expects to deliver efficiency improvements with pre-tax cash flow effects of around $1.7 billion from 2016. Organic capital expenditures for 2015 are estimated at around $18 billion. Statoil also intends to maintain ROACE at 2013 level adjusted for price and currency level, and to keep unit of production cost in the top quartile of peer group. Additionally, for the period 2014-2016, the company expects organic production growth to come from new projects resulting in around 2% Compound Annual Growth Rate from a 2014 level rebased for divestments. Visit Investor-Edge and access the latest research on STO at:

http://get.Investor-Edge.com/pdf/?c=Statoil&d=10-Mar-2015&s=STO

Stock Performance  

On the day of the earnings release, February 06, 2015, Statoil's stock ended the session at $18.53, up 0.43%. Since then, the stock has moved both ways. On the last close, Monday, March 09, 2015, shares of the company finished at $17.97, down 1.91%, after vacillating between $17.96 and $18.28. A total of 3.09 million shares were traded which was below their three months average volume of 3.57 million shares. Over the previous three trading sessions and last one month, the company's shares have fallen by 3.13% and 7.56%, respectively. However, the company's stock has advanced 2.86% over the past three months. Shares in Statoil closed below their 50-day and 200-day moving averages of $17.98 and $24.36, respectively.

Sneak Peek to Corporate Insider Trading  

In the last one month, Statoil has not reported any share transactions by insiders to the U.S. Securities and Exchange Commission (SEC). Complimentary in-depth research on STO is available at:

http://get.Investor-Edge.com/pdf/?c=Statoil&d=10-Mar-2015&s=STO

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