Operational Excellence Management System

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Suncor(SU) - 2025 Q2 - Earnings Call Presentation
2025-08-06 13:30
Financial Performance & Shareholder Returns - Suncor's market capitalization in Q2 2025 was $62 billion[5] - Net debt to AFFO for Q2 2025 TTM was 0.6x[5] - AFFO (Adjusted Funds From Operations) for Q2 YTD (Year-to-Date) was $5.7 billion[5] - Capital expenditures for Q2 YTD were $2.7 billion[5] - Free Funds Flow (FFF) for Q2 YTD was $2.9 billion[5] - Over the past 10 years, Suncor has returned >70% of its average market cap to shareholders[9] - Suncor is targeting 3-5% annual dividend growth[15] - Suncor is aiming for 1.0x Net Debt to AFFO at US$50 WTI[15] Operational Highlights - Upgrading capacity is 556 kbpd (thousands of barrels per day)[5] - Refining capacity is 466 kbpd[5] - Production to Market for Q2 YTD was 831 kbpd[5] - Refinery utilization for Q2 YTD was 99%[5] - Oil Sands reserve life index is 25 years (as of 2024)[5] - Upstream production is 825,000 bpd[18] - Refining capacity is 466,000 bpd[18] - Product sales are 570,000 bpd[18] - Suncor's total 2P Reserves (gross) were 7,315 million barrels at December 31, 2024[89, 96] 2025 Guidance - The 2025 capital budget is projected to be between $5.7 billion and $5.9 billion[44] - Oil Sands capital expenditure is projected to be between $3.775 billion and $3.850 billion, representing 40% of economic investment[46] - Exploration & Production (E&P) capital expenditure is projected to be between $725 million and $775 million, representing 100% of economic investment[46] - Downstream capital expenditure is projected to be between $1.175 billion and $1.250 billion, representing 30% of economic investment[46] - Corporate capital expenditure is projected at $25 million, representing 5% of economic investment[46] - Total bitumen production is guided between 880,000 and 920,000 kbpd[46] - Upgraded net SCO (Synthetic Crude Oil) and diesel production is guided between 485,000 and 495,000 kbpd[46] - Non-upgraded bitumen production is guided between 280,000 and 290,000 kbpd[46] - Total Oil Sands production is guided between 765,000 and 785,000 kbpd[46] - E&P production is guided between 45,000 and 55,000 kbpd[46] - Total Upstream Production is guided between 810,000 and 840,000 kbpd[46] - Refinery throughput is guided between 435,000 and 450,000 kbpd[46] - Refinery utilization is guided between 93% and 97%[46] - Refined product sales are guided between 555,000 and 585,000 kbpd[46]