IR Supplement

BP PLC 7 August 2001 BP p.l.c. Group Results Second Quarter and Half Year 2001 London 7 August 2001 INVESTOR RELATIONS SUPPLEMENT REPLACEMENT COST OPERATING PROFIT ADJUSTED FOR SPECIAL ITEMS(a) AND ACQUISITION AMORTIZATION(b) BY SEGMENT Second First Second Quarter Quarter Quarter First Half 2000 2001 2001 2001 2000 ======================= ============= $ million Exploration and Production 972 1,183 1,009 UK 2,192 2,060 185 226 190 Rest of Europe 416 373 1,463 2,517 1,620 USA 4,137 2,654 1,007 1,210 1,099 Rest of World 2,309 1,767 ----------------------- -------------- 3,627 5,136 3,918 9,054 6,854 ----------------------- -------------- Gas and Power 4 12 39 UK 51 (1) 11 62 34 Rest of Europe 96 66 47 35 96 USA 131 61 52 3 4 Rest of World 7 130 ----------------------- -------------- 114 112 173 285 256 ----------------------- -------------- Refining and Marketing 148 8 10 UK 18 181 159 162 241 Rest of Europe 403 195 996 695 1,357 USA 2,052 1,405 91 129 154 Rest of World 283 197 ----------------------- -------------- 1,394 994 1,762 2,756 1,978 ----------------------- -------------- Chemicals (30) (50) (33) UK (83) (61) 119 80 19 Rest of Europe 99 197 242 13 (1) USA 12 410 39 38 24 Rest of World 62 83 ----------------------- -------------- 370 81 9 90 629 ----------------------- -------------- Other businesses and corporate (10) (78) (46) UK (124) (121) 17 (19) 9 Rest of Europe (10) 26 (162) (68) (72) USA (140) (276) 6 38 (19) Rest of World 19 11 ----------------------- -------------- (149) (127) (128) (255) (360) ----------------------- -------------- 5,356 6,196 5,734 11,930 9,357 ======================= ============== (a) The special items refer to non-recurring charges and credits. The special items for the quarter and half year comprise, in Refining and Marketing, Burmah Castrol integration costs and rationalization costs in the European commercial business. (b) Acquisition amortization refers to depreciation and amortization relating to the fixed asset revaluation adjustment and goodwill consequent upon the ARCO and Burmah Castrol acquisitions. ACQUISITION AMORTIZATION BY SEGMENT Second First Second Quarter Quarter Quarter First Half 2000 2001 2001 2001 2000 ======================= ============= $ million Exploration and Production 26 29 39 UK 68 26 313 392 406 USA 798 313 10 35 32 Rest of World 67 10 ----------------------- ------------- 349 456 477 933 349 ----------------------- ------------- Refining and Marketing - 104 98 UK 202 - 70 84 78 USA 162 70 ----------------------- ------------- 70 188 176 364 70 ----------------------- ------------- 419 644 653 1,297 419 ======================= ============= SPECIAL ITEMS BY SEGMENT (PRE-TAX) Second First Second Quarter Quarter Quarter First Half 2000 2001 2001 2001 2000 ======================= ============= $ million Exploration and Production 70 - - UK - 70 - - - Rest of Europe - - 152 - - USA - 152 37 - - Rest of World - 61 ----------------------- ------------- 259 - - - 283 ----------------------- ------------- Gas and Power - - - UK - - - - - Rest of Europe - - - - - USA - - - - - Rest of World - - ----------------------- ------------- - - - - - ----------------------- ------------- Refining and Marketing - 15 28 UK 43 - 29 26 64 Rest of Europe 90 29 112 4 4 USA 8 112 - 8 13 Rest of World 21 - ----------------------- ------------- 141 53 109 162 141 ----------------------- ------------- Chemicals 3 - - UK - 3 1 - - Rest of Europe - 1 46 - - USA - 46 - - - Rest of World - - ----------------------- ------------- 50 - - - 50 ----------------------- ------------- Other businesses and corporate 19 - - UK - 19 - - - Rest of Europe - - 131 - - USA - 147 - - - Rest of World - - ----------------------- ------------- 150 - - - 166 ----------------------- ------------- 600 53 109 Total special items before interest 162 640 - 10 50 Interest - bond redemption charges 60 - ----------------------- ------------- 600 63 159 Total 222 640 ======================= ============= ENVIRONMENTAL INDICATORS Second First Second Quarter Quarter Quarter First Half 2000 2001 2001 2001 2000 ======================= ============= Average oil realizations(a)($/bbl) 26.24 25.04 26.58 UK 25.78 26.23 23.77 24.79 23.58 USA 24.18 24.18 24.64 23.52 23.93 Rest of World 23.72 25.41 24.98 24.80 24.74 BP Average 24.77 25.30 ======================= ============= 26.88 25.75 27.39 Brent oil price 26.57 26.89 28.96 28.71 27.88 West Texas Intermediate oil price 28.30 28.91 ======================= ============= Average natural gas realizations ($/mcf) 1.99 3.53 2.85 UK 3.23 2.12 3.01 7.13 4.35 USA 5.73 2.73 2.20 3.37 2.58 Rest of World 2.97 2.00 2.51 4.96 3.43 BP Average 4.21 2.33 ======================= ============= 3.44 7.08 4.66 Henry Hub gas price(b)($/mmBtu) 5.86 2.98 ======================= ============= Global Indicator Refining Margin(c) ($/bbl) 4.26 2.35 3.35 NWE 2.85 3.16 5.22 6.69 7.71 USGC 7.21 3.95 6.00 10.94 9.11 USWC 10.02 6.17 0.63 0.70 0.96 Singapore 0.83 1.53 4.69 4.25 5.78 BP Average 5.02 3.56 ======================= ============= 132 106 103(e)Chemicals Indicator Margin(d)($/te) 104(e) 123 ======================= ============= (a) Crude oil and natural gas liquids. (b) Henry Hub First of Month Index. (c) The Global Indicator Refining Margin (GIM) is the average of seven regional indicator margins weighted for BP's crude refining capacity in each region. Each regional indicator margin is based on a single representative crude with product yields characteristic of the typical level of upgrading complexity. (d) The Chemicals Indicator Margin (CIM) is a weighted average of externally-based product margins. It is based on market data collected by Chem Systems in their quarterly market analyses, then weighted based on BP's product portfolio. While it does not cover our entire portfolio, it includes a broader range of products than our previous indicator. Among the products and businesses covered in the CIM are olefins and derivatives, aromatics and derivatives, linear alpha olefins, acetic acid, vinyl acetate monomer and nitriles. Not included are fabrics and fibres, plastic fabrications, poly alpha olefins, anhydrides, engineering polymers and carbon fibres, speciality intermediates, and the remaining parts of the solvents and acetyls businesses. (e) Provisional. The data for the second quarter is based on two months' actual and one month of provisional data. PER SHARE AMOUNTS Second First Second Quarter Quarter Quarter First Half 2000 2001 2001 2001 2000 ======================= ============= Ordinary shares outstanding at 22,628 22,484 22,479 period end (million) 22,479 22,628 3,771 3,747 3,747 - ADS equivalent (million) 3,747 3,771 n/a 22,474 22,448 Average ordinary shares (million) 22,461 20,728 n/a 3,746 3,741 - ADS equivalent (million) 3,744 3,455 ----------------------- ------------- Replacement cost profit after 2,811 3,542 3,131 exceptional items ($m) 6,673 5,364 13.10 15.76 13.95 cents/ordinary share 29.71 25.88 0.79 0.95 0.83 dollars/ADS 1.78 1.55 ----------------------- ------------- Replacement cost profit before 2,791 3,437 3,032 exceptional items ($m) 6,469 5,468 12.60 15.29 13.51 cents/ordinary share 28.80 26.38 0.76 0.92 0.81 dollars/ADS 1.73 1.58 ----------------------- ------------- Pro forma result adjusted 3,610 4,126 3,799 for special items 7,925 6,317 16.54 18.36 16.92 cents/ordinary share 35.28 30.47 0.99 1.10 1.02 dollars/ADS 2.12 1.83 ----------------------- ------------- EARNINGS ADJUSTED ON TO A QUASI CASH BASIS (PRE-EXCEPTIONAL ITEMS) Second First Second Quarter Quarter Quarter First Half 2000 2001 2001 2001 2000 ======================= ============= $ million 4,337 5,499 4,972 Replacement cost operating profit 10,471 8,298 Earnings from joint ventures (535) (331) (282) and associates (613) (988) Dividends from joint ventures 475 122 213 and associated undertakings 335 701 1,933 2,140 2,103 Depreciation and amounts provided(a)4,243 3,128 168 169 81 Exploration expense 250 299 (344) (361) (384) Interest paid (745) (568) (953) (139) (2,382) Tax paid (2,521) (1,490) Dividends paid to (6) - (5) minority shareholders (5) (8) ----------------------- -------------- 5,075 7,099 4,316 11,415 9,372 ----------------------- -------------- 24.48 31.59 19.23 cents/ordinary share 50.82 45.21 1.47 1.90 1.15 dollars/ADS 3.05 2.71 ======================= ============== Includes post tax charges for 2.13 0.16 0.35 special items (cents per share) 0.51 2.28 ======================= ============== (a) All periods include acquisition amortization RETURN ON AVERAGE CAPITAL EMPLOYED Second First Second Quarter Quarter Quarter First Half 2000 2001 2001 2001 2000 ======================= ============= $ million Replacement cost basis 2,791 3,437 3,032 RC profit before exceptional items 6,469 5,468 403 446 441 Interest 887 699 (5) 11 21 Minority shareholders' interest 32 63 ----------------------- -------------- 3,189 3,894 3,494 7,388 6,230 ======================= ============== 94,599 94,343 94,862 Average Capital Employed 95,710 n/a 13.5% 16.5% 14.7% ROACE 15.4% n/a ----------------------- ------------- Pro forma and special items adjustments 377 644 653 Acquisition amortization 1,297 377 442 37 78 Special items (post tax) 115 472 Average capital employed 18,079 20,953 20,305 acquisition adjustment 20,627 n/a ROACE - Pro forma basis 21.0% 24.9% 22.7% adjusted for special items 23.4% n/a ----------------------- ------------ Historical cost basis Historical cost profit 3,024 3,304 3,171 after exceptional items 6,475 6,109 403 446 441 Interest 887 699 (5) 11 21 Minority shareholders' interest 32 63 ----------------------- -------------- 3,422 3,761 3,633 7,394 6,871 ======================= ============== 14.5% 16.0% 15.3% ROACE 15.5% n/a NET DEBT RATIO - NET DEBT: NET DEBT + EQUITY Second First Second Quarter Quarter Quarter First Half 2000 2001 2001 2001 2000 ======================= ============= $ million 19,187 18,788 20,498 Gross debt 20,498 19,187 5,929 2,147 1,666 Cash and current asset investments 1,666 5,929 ----------------------- -------------- 13,258 16,641 18,832 Net debt 18,832 13,258 ======================= ============= 74,128 74,707 75,730 Equity 75,730 74,128 15% 18% 20% Net debt ratio 20% 15% ----------------------- -------------- 17,920 20,631 19,978 Acquisition adjustment 19,978 17,920 ----------------------- -------------- 19% 24% 25% Net debt ratio - pro forma basis 25% 19% ======================= ==============

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