Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q1 2018 Earnings Presentation
39 slides from Siamgas & Petrochemicals Public's earnings presentation, 2018
Slide 1: Q1|2018 Performance Results
SliahtitAas Q1|2018 PERFORMANCE RESULTS PRESENTATION FOR INVESTOR & ANALYST
Slide 2: Disclaimer
The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Siamgas and Petrochemicals Public Company Limited (“SGP” and shares in SGP, “shar
Slide 3: Agenda
AGENDA () SIAMGAS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A
Slide 4: Shareholder structure
61.3% MANAGEMENT Fund Thai NVDR 17.4% 5.5% Retail 15.8% 38.7% PUBLIC Latest book closing : On 9 MAR 2018 4
Slide 5: Company history and milestones
Business acquisition Invest in Vietnam | Supergas Business acquisition 10 MW. Power Plant Founded Founded Singapore | Singgas Vietnam | Citygas N. and transmission line the company Marine & land logistic China | Sinosiam Malaysia | Mygaz in Myanmar 1 2 2 2 2 9 0 0 0 0 7 0 1 1 1 6 5 0 3 8 2 2 2 2 0 0
Slide 6: Company structure
COMPANY STRUCTURE SGP | 918,931,500 BAHT SIAMGAS AND PETROCHEMICAL PCL. THAILAND 4 70 MB. Road Transportation >| 39.37% 447 NB. Marine Trasportation 14.77% uGP 105 MB. LPG in Thailand 70 MB. < Cylinder Manufacture - 400 MB. [Ethanol product 100 MB. Oil product 1 MB. L__“~__y»| Food & Beverage SUBSID
Slide 7: Business operation
BUSINESS OPERATION THAILAND OVERSEA 1. LIQUEFIED PETROLEUM GAS (LPG) 1. LIQUEFIED PETROLEUM GAS (LPG) 2. ROAD TRANSPORTATION - SINGAPORE 3. MARINE TRANSPORTATION - CHINA 4. CYLINDER MANUFACTURING - MALAYSIA 5. ETHANOL MANUFACTURING AND TRADING - VIETNAM 6. OIL RETAIL BUSINESS 2. COMBINE CYCLE POWER
Slide 8: Thailand and overseas updates
Thailand The Company signed MOU with EGATi for procurement and supply of LNG to domestic power plant. The Company is expanding petrol station both petrol station only and petrol with LPG station. Set up Siamgas LNG to support LNG business in the future. Overseas The Company is implementing construct
Slide 9: LPG and other business locations
LPG business OTHER business SHANTOU, SOUTH CHINA | SOGEL HAIPHONG | CITYGAS NORTH ZHUHAI, SOUTH CHINA | SINOSIAMGAS MYANMAR, MAWLAMYING | MLIPP POWERPLANT 230 MW. MYANMAR, ANIN | SMD POWERPLANT & TRANSMISSION LINE 10 MW. HO CHI MINH | SUPERGAS THAILAND | SIAMGAS & UNIQUEGAS EAST MALAYSIA | MYGAZ MAL
Slide 10: Agenda
AGENDA () SIAMGRS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK ~ Q&A
Slide 11: LPG supply chain and distribution
SGP COMMERCIAL FILLING USERS PLANTS GAS SEPARATION COOKING LPG REFINERIES RETAILERS PLANTS AGENT & FILLING HOUSEHOLD USERS PLANTS SGP INDUST. TERMINALS INDUSTRIAL & USERS DEPOTS LPG IMPORT SGP AUTO-LPG AUTOMOTIVE SGP STATIONS MOTORISTS AGENT AUTO-LPG STATIONS 11
Slide 12: Terminals, filling plants and autogas stations
24 8 500 vessels terminals roadtankers 5.Lampang 6.Khonkaen 4.Nakornsawan 1.Bangkok Floating Storage 2.Samutprakan 3.Chachoengsao 7.Suratthani FILLING PLANT & AUTOGAS STATION 8.Songkhla Company Filling Plants x 40 Agent Filling Plants x 151 Company Autogas Stations x 45 Agent Autogas Stations x 497
Slide 13: LPG sales volume - all sectors
LPG Sales Volume (‘000 tons) | ALL SECTORS 4,730 YoY: Total -1.2% | SGP -0.6% 4,409 4,177 4,108 -6.8% -5.3% -1.6% QoQ: Total -1.3% | SGP +0.7% 3,609 3,370 3,171 3,107 -7.3% -3.3% -0.4% 1,032 1,034 1,020 1,121 1,039 1,005 1,001 778 783 767 254 251 253 2014 2015 2016 2017 1Q'17 4Q'17 1Q'18 SGP Group O
Slide 14: LPG sales volume - cooking sector
LPG Sales Volume (‘000 tons) | COOKING SECTORS COOKING PORTION 2,188 2,110 2,151 2,094 +1.9% YoY: Total +2.3% | SGP -3.7% -4.3% +0.8% 1,545 1,484 1,491 1,534 QoQ: Total -0.8% | SGP -1.1% 61% +1.4% 535 552 547 -5.1% -0.4% 643 610 619 616 376 397 394 159 155 153 2014 2015 2016 2017 1Q'17 4Q'17 1Q'18 S
Slide 15: LPG sales volume - automotive sector
LPG Sales Volume (‘000 tons) | AUTOMOTIVE SECTORS 1,974 1,731 AUTOMOTIVE PORTION -12.3% 1,466 YoY: Total -11.0% | SGP +4.0% -15.3% 1,319 -10.0% 1,624 1,439 QoQ: Total -4.5% | SGP +3.6% 1,221 1,089 23% -16.5% 341 317 303 -16.3% -5.9% 350 292 284 261 244 245 230 57 57 59 2014 2015 2016 2017 1Q'17 4Q'1
Slide 16: LPG sales volume - industry sector
LPG Sales Volume (‘000 tons) | INDUSTRY SECTORS 638 584 600 INDUSTRY PORTION 568 +6.3% YoY: Total +8.5% | SGP +5.6% +2.8% +2.8% QoQ: Total +3.0% | SGP +3.4% 16% 483 448 459 440 +9.3% 156 165 170 +3.7% +7.0% 118 125 129 128 137 142 155 39 39 41 2014 2015 2016 2017 1Q'17 4Q'17 1Q'18 SGP Group Others T
Slide 17: LPG sales volume by sector
LPG Sales Volume (‘000 tons) | By SECTORS Cooking Automobile Industrial |----------- 1,039 ------------| |----------- 1,005 ------------| |----------- 1,001 ------------| |------------- 253 ------------| 265 260 260 254 256 253 256 254 249 251 253 241 247 35 35 34 34 35 37 37 39 39 41 33 36 41 75 72
Slide 18: Agenda
AGENDA () SIAMGRS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK ~ Q&A
Slide 19: Regional LPG terminals
W ) SIAMNGAS co REGIONAL LPG WH e Siam Ocean Gas & Energy Ltd. ———— sews 100,000 Tons LPG Terminal SHANTOU tp) Sino Siam Gas & Petrochemicals Co,Ltd. 200,000 Tons LPG Terminal ZHUHAI — “ee ecceseet® —_ a J) \e) ts y FLOATING LPG TERMINAL — Semen : J oN = 45,000 DWT VLGC =— ay / == Siamgas and Petroc
Slide 20: Huge storage in China
HUGH STORAGE IN CHINA GROUP jamgas and Petrochemical Public Company Limited
Slide 21: Storage caverns
Total : 300,000 Tons Zhuhai : 200,000 Tons Shantou : 100,000 Tons Storage Caverns 21
Slide 22: 2006 2007 2008 2009 -46.5 +385.0 -535.0 +387.5 6 7 7 6 6 2010
8 9 5 8 4 2006 4 2007 3 2008 7 2009 -46.5 +385.0 -535.0 +387.5 6 7 7 6 6 2010 6 2011 5 2012 5 2013 +200.0 -130.0 +185.0 +182.5 2 6 6 6 4 2 2014 10 2015 6 2016 6 2017 -602.5 -92.5 -67.5 22
Slide 23: Propane, butane and Brent crude prices
USD/TON Propane [C3] Butane [C4] 700 600 600 580 580 570 570 600 560 495 490 500 505 505 575 575 590 590 465 470 500 460 560 510 525 390 390 500 480 365 480 480 475 400 435 2017 2018 430 420 385 385 300 Q1 +140.0 -107.5 345 2 2 2 200 Q2 -152.5 +87.5 100 6 4 2 Q3 +102.5 +180.0 -20.0 Q4 +90.0 0 USD/BA
Slide 24: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 24
Slide 25: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 25
Slide 26: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 26
Slide 27: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 27
Slide 28: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 28
Slide 29: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 29
Slide 30: Agenda
AGENDA () SIAMGRS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK ~ Q&A
Slide 31: Revenue by region
Thailand 18.4% Offshore 31.8% Oversea business 48.4% Logistic Q1|2017 Other (Servuce & Other) Thailand 37.0% Oversea 63.0% 1.0% 0.4% 22.6% Q1|2018 Thailand 33.2% 35.4% Oversea 66.8% 40.4% 0.7% 0.9% 31
Slide 32: Q1|2018 consolidated revenue of Bt.15,743 M
Q1|2018 Consolidated revenue of Bt.15,743 M shows a 9.1% yoy growth yoy +23.3% yoy +9.1% 65,746 qoq -10.1% 62,157 1,438 59,627 980 58,334 883 752 48,371 17,516 678 227 15,743 14,432 217 Other 14,151 13,527 230 175 251 40,822 36,903 34,661 Oversea 27,902 38,403 9,093 8,274 8,921 12,115 10,521 Local T
Slide 33: Q1|2018 consolidated EBITDA of Bt.588 M
Q1|2018 Consolidated EBITDA of Bt.588 M a decline of 66.1% yoy EBITDA EBITDA MARGIN 6,000 12% 2,000 EBITDA EBITDA MARGIN 16% 5,193 1,733 1,800 1,690 14% 5,000 10% 1,600 12.01% 12% 8.71% 1,400 1,321 4,000 8% 10% 1,200 9.65% 2,860 9.33% 2,786 2,836 3,000 5.91% 6% 1,000 8% 4.86% 800 6% 4.24% 2,000 4% 5
Slide 34: Gross profit and net profit
YEARLY QUARTERLY 1 4,947 1,800 14% 5,000 12% 1,706 1,643 1,600 2 12% 10.27% 10% 11.46% 4,000 1,400 1,307 10% 9.82% 3,037 8% 1,200 1,143 9.29% 3,000 2,891 3 2,811 7.92% 8% 2,339 1,000 6.00% 6% 889 845 5.23% 2,000 800 5.97% 6% 1,602 4.71% 4 4% 5.07% 3.60% 1,116 1,119 600 1 469 4% 1,000 834 2.44% 2.31%
Slide 35: Assets, liabilities, equity and debt
ASSET (THB Million) LIABILITIES & EQUITY (THB Million) Cash & Equivalents Inventory Short term loan Current liabilities Other asset PP&E Long term Debt Non current liabilities Interest Bearing Debt (Times) Total Equity 1.20 31,458 31,458 30,634 30,634 1.14 1.07 1.08 2,590 1.06 2,179 4,084 4,084 1.03
Slide 36: Agenda
AGENDA () SIAMGRS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK ~ Q&A
Slide 37: LPG sales volume and 2018 outlook
LPG Sales Volume (Tons) Sales volume (TONs) 2016 2017 Outlook 2018 3M|2018 % Success SGP - Thailand 1,016,965.56 1,030,660.58 1,100,000.00 259,111.42 23.6% Malaysia & Singapore SGP Offshore Trading* 543,451.66 736,544.45 820,000.00 166,138.08 20.3% Vietnam China 1,200,167.37 1,219,476.64 1,350,000.0
Slide 38: Dividend policy and historical payments
• Dividend Policy The Company has established the policy to pay dividends to the shareholders at the rate of not less than 40% of the net profit after corporate income tax, accumulated loss brought forward (if any)and appropriation of statutory reserve in accordance with the Company’s separate finan
Slide 39: Questions are welcomed!
QUESTIONS ARE WELCOMED !
Siamgas and Petrochemicals Public Company — Q1 2018 Earnings Presentation on 6ix