Electricity Generating Public Co., Ltd. · SET:EGCO
Electricity Generating Public — Q1 2008 Earnings Presentation
43 slides from Electricity Generating Public's earnings presentation, Mar 31, 2008
Slide 1: Corporate Presentation: Quarterly Financial Results Ended 31 March 2008
Corporate Presentation Quarterly Financial Results Ended 31 March 2008
Slide 2: Disclaimer Statement
Disclaimer Statement This presentation was made from the analysis of reliable information in order to assist investment community to better understand the company's financial status and operation. It also supports the "Good Corporate Governance Project" of the Securities and Exchange Commission (SEC
Slide 3: Table of Contents
Table of Contents • Thailand’s Electricity Industry Overview • EGCO Group’s Overview • EGCO Group’s Investment • Financial Results • Appendices 3
Slide 4: Thailand's Electricity Industry Overview
Thailand’s Electricity Industry Overview
Slide 5: Current Electricity Supply Industry
Thailand’s Electricity Industry Overview : Current Electricity Supply Industry EGAT* INT. (2.14 %)* IPP (38.22%)* SPP (6.94%)* (52.71%) EGAT Transmission 2 Customers MEA PEA Direct End Users IPP : Independent Power Producer MEA : Metropolitan Electricity Authority EGCO’s IPPs have 11 % market share.
Slide 6: Historical Demand Growth
Thailand’s Electricity Industry Overview : Historical Demand Growth MW 22,586.10 MW or 21,064 MW or 7.23% increase 25,000 2.57% increase from the highest in 2006 from the highest in 2005 24,000 23,000 2008 22,000 21,000 2007 20,000 2006 19,000 2005 18,000 2004 17,000 2003 16,000 2002 15,000 14,000 J
Slide 7: Thailand's New Capacity from 2008-2014
Corporate Overview : Thailand’s New Capacity from 2008-2014 MW 4,500 4,000 3,500 3,000 SPP 200 MW Nam Ngum 3 Jana 440 MW 2,500 SPP+RPS 134 MW SPP 245 MW 710 MW Hongsa 1 South BKK # 2- 3 Theun Hinboun- Ex 220 MW 490 MW 2,000 SPP 200 MW 74+715 MW IPP (Coal) IPP (Coal) Nam Ngiep 261 MW 660 MW 540 MW 1,
Slide 8: EGCO Group's Overview
oO uss [- G C O Energy for life GROUP EGCO Group’s Overview
Slide 9: EGCO Vision Statement
EGCO Group’s Overview : EGCO Vision Statement To be the leading Thai integrated electric power Company with comprehensive energy services in Thailand and in the ASEAN region, with full commitment to environment protection and social development support 9
Slide 10: EGCO Group's Strategic Direction
EGCO Group’s Overview : EGCO Group’s Strategic Direction Vision Statement • Focus on IPP bidding • Develop or acquire IPP projects including increase stakes in existing IPP projects • Seek ASEAN region opportunities especially in neighboring countries with cross-border electricity sale to EGAT • Neg
Slide 11: EGCO Group Investment
EGCO Group’s Overview : EGCO Group Investment Recent mw addition come from BLCP & GEC-GPG (KK2) 11
Slide 12: EGCO Group's Investment
EGCO Group’s Investment • Projects under Construction • Future Projects
Slide 13: Projects under Construction: Nam Theun 2
Projects under Construction : Nam Theun 2 Location : Khammouane, Laos Technology : Hydroelectric Power Plant Installed Capacity : 1,070 MW Contracted capacity to EGAT : 920-995 MW Type of Fuel : Hydro PPA : 25-year with EGAT COD : December 2009 Project Progress : Construction phase EGCO LHSE 25% Est
Slide 14: EGCO Group's Investment
EGCO Group’s Investment • Projects under Construction • Future Projects
Slide 15: Future Projects: Nam Theun 1 Project
Future Projects : Nam Theun 1 Project Location : Bolikhamxay, Laos Technology : Hydroelectric Power Plant Installed Capacity : 523 MW Type of Fuel : Hydro COD : 2014 Project Progress Laos 20 % EGCO 40 % EGCO signed Tariff MoU with EGAT in 2006 Gamuda 40 % 15
Slide 16: Future Projects: Wind Power Project
Future Projects : Wind – Power Project Location : The Southern coast of Thailand Capacity : 30-35 MW Feasibility Study : 18 Months Cost of Project : 1,800 MM Baht Eurus 20 % EGCO 30 % Project Progress EGCO signed MoU with PTT, WEGCO and EURUS to conduct a feasibility study in 2007 WEGCO 20 % PTT 30
Slide 17: Future Projects: Waste-Powered Electricity Plant Project
Future Projects : Waste – Powered Electricity Plant Project Location : Phuket, Thailand Capacity : 20-25 MW Cost of Project : 1,600 MM Baht SEPCO Asia 15% Project Progress EGCO EGCO signed MoU with PTT 50% and SEPCO-Asia Group to conduct a feasibility study PTT in 2007 35% Note: Tentative por tion f
Slide 18: Future Projects: LNG Receiving Terminal Project
Future Projects : LNG Receiving Terminal Project Location : Rayong, Thailand Capacity : Phase 1 - 5 MTA Phase 2 - 10 MTA COD : 2011 Project Progress EGCO signed MoU with EGAT and PTT to conduct a feasibility in 2007 18
Slide 19: New Investment Project: Koh Kong
New Investment Project : Koh Kong Koh Kong Location : Cambodia Technology : Coal Power Plant Installed Capacity : 3,660 MW Type of Fuel : Coal Expected COD : 2016 Project Progress EGCO signed MoU to study for investment in 2008 19
Slide 20: Financial Results
2 "< EG C O Energy for life GROUP Financial Results
Slide 21: Operating Results – One Line vs Proportionate
Financial Results : Operating Results – One Line VS Proportionate Ended March 31, 2008 and 2007 MM baht One Line Proportionate 1Q08 1Q07 % Diff 1Q08 1Q07 % Diff Revenues 2,881 2,922 -1% 8,613 6,685 29% Share of profit from JVEs 1,875 1,530 23% 15 (10) NA Expenses (1,988) (1,986) 0% (6,485) (4,591) 4
Slide 22: Operating Results - Net Profit and EBITDA
Financial Results : Operating Results - Net Profit and EBITDA Ended March 31, 2008 and 2007 MM baht 5,000 4,000 3,660 3,350 2,817 3,000 2,531 2,000 1,000 -551 -528 -192 -163 -165 -176 48 64 0 -1,000 EBITDA Interest Tax Depre & Amort Fx Gain Net Profit after -2,000 Fx, Tax -3,000 -4,000 1Q08 1Q07 22
Slide 23: IPP Operating Results Ended March 31, 2008 & 2007
Financial Results : IPP Operating Results Ended March 31, 2008 & 2007 MM baht 23
Slide 24: Cashflow Ended March 31, 2008 and 2007
Financial Results : Cashflow Ended March 31, 2008 and 2007 MM baht 1Q08 1Q07 Beginning Balance of Cash and Cash Equivalent 3,750 5,602 Net Cash Receipts from Operating Activities 655 1,021 Net Cash Receipts (Payments) from Investing Activities 792 (7,850) Net Cash Receipts (Payments) from Financing
Slide 25: Capital Expenditure from 2008-2009
Financial Results : Capital Expenditure from 2008- 2009 MM baht 2008 2009 NTPC (NT II) 890 1,513 NT I 391 - Total 1,281 1,513 25
Slide 26: Financial Ratio Highlights
Financial Results : Financial Ratio Highlights Low D/E ratio with solid cash flows 26
Slide 27: Summary of Debt Structure
Financial Results : Summary of Debt Structure Total Outstanding Balances Total Facilities 31 March 2008 USD 192 M. USD 32 M. 8.64% JPY 1,260 M. JPY 823 M. 2.24% Baht 16,287 M. Baht 10,437 M. 89.12% • Total facilities and total outstanding balances of EGCO Group (Not in EGCO’s portion) • Total outsta
Slide 28: Dividend Policy
Financial Results : Dividend Policy Baht/Share 5.00 4.75 4.50 4.00 4.00 3.25 3.50 2.50 3.00 3.00 2.75 2.00 2.50 2.50 2.25 1.50 1.75 2.00 1.50 1.25 1.50 1.25 1.00 2.00 2.25 1.25 1.25 1.50 1.50 0.50 1.00 0.00 Year 2001 2002 2003 2004 2005 2006 2007 Interim Final “In the absence of unforeseen circumsta
Slide 29: Appendices
Appendices • Corporate Overview • Segmental Operating Results • Operating Performance
Slide 30: EGCO Shareholding Structure as of April 2008
Corporate Overview : EGCO Shareholding Structure as of 1 April 2008 EGAT OneEnergy Thailand Ltd. (owned by OneEnergy which is jointly owned 50% 25.41% 22.42% each by CLP Holding and Mitsubishi Corporation) • Foreign investors including those investing in foreign board (22.39%) and Non-Voting Deposit
Slide 31: EGCO Board of Directors
Corporate Overview : EGCO Board of Directors EGAT Directors EGCO President • Mr.Sanit Rangnoi • Mr. Visit Akaravinak (Chairman of the Board) • Mr. Sombat Sarntijaree • Mr. Narongsak Vichetpan • Mr. Vinit Tangnoi OneEnergy Directors Independent Directors • Mr. Peter Albert Littlewood • Mr . Aswin Kon
Slide 32: EGCO Group Structure
Corporate Overview : EGCO Group Structure EGCO Group 4,094.0 MW Majority Owned 50%Minority Owned or less ow ned-JVs 2,156.6 MW 1,937.4 1,937.4 MW MW ESCO REGCO EGCO Green EGCO Co gen KEGCO GEC BL CP NT2 EGCO BVI 1,232.00 9.40 117.00 824.00 1,853.00 1,434.00 1,070.00 26.40 100.0% 100.0% 74.0% 80.0% 1
Slide 33: EGCO Group's CSR Projects
Corporate Overview : EGCO Group’s CSR Projects Nationwide 1. Forest : The Circle of Life (Forest Planting at Doi Inthanond) 2. School Network for Global Warming Reduction 3. Thai conservation of Forest Youth Camp 4. Power of Books : Power of Learning Local 5. Cleaner Canal : Better Living 10. School
Slide 34: Appendices
Appendices • Corporate Overview • Segmental Operating Results • Operating Performance
Slide 35: Segmental Operating Results: Ended March 31, 2008
Segmental Operating Results : Ended March 31, 2008 MM baht 35
Slide 36: Segmental Operating Results: Ended March 31, 2007
Segmental Operating Results : Ended March 31, 2007 MM baht 36
Slide 37: Appendices
Appendices • Corporate Overview • Segmental Operating Results • Operating Performance
Slide 38: Annual Net Generation & Electricity Sales 2003-2007
Operating Performance (IPPs) : Annual Net Generation & Electricity Sales for the Year 2003-2007 Net Generation GWh 9,723 7,269 6,133 6,393 6,274 5,811 5,975 5,837 6,006 5,349 3,895 3,397 - - - - - - - - 2003 2004 2005 2006 2007 Electricity Sales 20,104 MM Baht 7,164 5,947 5,448 5,392 5,273 5,039 4,2
Slide 39: Major Maintenance Expenses for the Year 2008
Operating Performance (IPPs) : Major Maintenance Expenses for the Year 2008 MM Baht 39
Slide 40: Major Maintenance Expenses for the Year 2007
Operating Performance (IPPs) : Major Maintenance Expenses for the Year 2007 MM Baht 40
Slide 41: Equivalent Availability Factor
Operating Performance (IPPs) : Operating Performance Equivalent Availability Factor 41
Slide 42: Net Generation and Fuel Consumption
Operating Performance (IPPs) : Net Generation and Fuel Consumption 42
Slide 43: IR Contacts
IR Contacts : ELECTRICITY GENERATING Jiraporn Rungsrithong PUBLIC COMPANY LIMITED Vice President - IR Tel: 66-2998-5145 EGCO Tower, 222 Moo 5 Vibhavadi Rangsit Road Pawuth Chaladyam Tungsonghong, Laksi Assistant Vice President - IR Bangkok 10210 Thailand Tel: 66-2998-5146 www.egco.com Suthatip Moras
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