Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP

Siamgas & Petrochemicals Public — Q3 2019 Earnings Presentation

37 slides from Siamgas & Petrochemicals Public's earnings presentation, November 2019

  1. Slide 1: Q3|2019 Performance Results

    Q3|2019 PERFORMANCE RESULTS PRESENTATION FOR INVESTOR & ANALYST

  2. Slide 2: Disclaimer

    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

  3. Slide 3: Agenda

    AGENDA • BUSINESS OVERVIEW • THAILAND BUSINESS • OVERSEA BUSINESS • FINANCIAL RESULTS • BUSINESS OUTLOOK • Q&A

  4. Slide 4: Shareholding Structure

    SHAREHOLDING STRUCTURE 55.0% MAJOR SHAREHOLDERS Fund 22.5% Retail 19.6% Thai NVDR 2.9% 45.0% PUBLIC Latest book closing : On 22 AUG 2019

  5. Slide 5: Milestones

    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 Malaysia | Mygaz China | Sinosiam in Myanmar SUSTAINABLE 1 2 2 2 2 GROWTH 9 0 0 0 0 7

  6. Slide 6: Business Operation

    BUSINESS OPERATION THAILAND OVERSEA LIQUEFIED PETROLEUM GAS (LPG) 1 LIQUEFIED PETROLEUM GAS (LPG) • Singapore 2 ROAD TRANSPORTATION • China 1 • Malaysia 3 MARINE TRANSPORTATION • Vietnam 4 CYLINDER MANUFACTURING COMBINE CYCLE POWER PLANT 2 • Myanmar 5 OIL RETAIL BUSINESS DIESEL POWER PLANT CONTAINER

  7. Slide 7: Business Update

    BUSINESS UPDATE Thailand Expand petrol with LPG stations. Currently opened 5 stations (Kaset-Nawamin, Phutthamonthon Sai 2, Bypass Cha-am Pranburi, Bypass Saraburi, Phuket and 3 stations in pipeline. Open 3 petrol stations which are Suksawat, Chiang Mai, and Ayudhaya. Invest in TPP shares which oper

  8. Slide 8: SGP's Presence

    SGP’s PRESENCE LPG business OTHER business SHANTOU, SOUTH CHINA | SOGEL HAIPHONG | CITYGAS NORTH ZHUHAI, SOUTH CHINA | SINOSIAMGAS MYANMAR, MAWLAMYING | MLIPP POWERPLANT 230 MW. KOH SRI-CHANG | TPP LIQUID TANK FARM MYANMAR, ANIN | SMD DIESEL POWERPLANT 10 MW. HO CHI MINH | THAILAND | SIAMGAS & SUPER

  9. Slide 9: Agenda

    AGENDA • BUSINESS OVERVIEW • THAILAND BUSINESS • OVERSEA BUSINESS • FINANCIAL RESULTS • BUSINESS OUTLOOK • Q&A

  10. Slide 10: Thailand Business Model

    THAILAND BUSINESS MODEL SGP COMMERCIAL FILLING USERS PLANTS COOKING LPG RETAILERS AGENT FILLING HOUSEHOLD GAS SEPARATION PLANTS USERS PLANTS REFINERIES SGP INDUST. TERMINALS INDUSTRIAL & & USERS DEPOTS SGP AUTO-LPG AUTOMOTIVE STATIONS MOTORISTS AGENT AUTO-LPG STATIONS

  11. Slide 11: SGP's Network in Thailand

    SGP’s NETWORK IN THAILAND 26 8 500 vessels terminals roadtankers 5.Lampang 6.Khonkaen 4.Nakornsawan 1.Bangkok 2.Samutprakan 3.Chachoengsao 7.Suratthani FILLING PLANT & AUTOGAS STATION Company Filling Plants x 44 Agent Filling Plants x 142 8.Songkhla Company Autogas Stations x 41 Agent Autogas Statio

  12. Slide 12: Thailand LPG Market

    THAILAND LPG MARKET LPG Sales Volume (‘000 tons) | ALL SECTORS SGP’s market share in Thailand 23.6% 24.1% 24.4% 24.6% 24.9% YoY: Total -4.8% | SGP -2.2% 4,409 -5.3% 4,177 -1.6% 4,108 -2.4% 4,011 2,848 QoQ: Total +2.9% | SGP +3.8% 3,370 3,171 3,107 3,027 2,140 -3.3% -0.4% -1.7% 1,004 929 956 1,039 1,

  13. Slide 13: Cooking Market

    COOKING MARKET LPG Sales Volume (‘000 tons) | COOKING SECTORS SGP’s market share in Thailand 29.1% 29.3% 28.6% 27.5% 26.9% COOKING PORTION YoY: Total -0.8% | SGP -3.9% 2,094 +0.8% 2,110 +1.9% 2,151 +0.6% 2,164 1,584 QoQ: Total +5.6% | SGP +2.8% 1,484 1,491 1,534 1,570 60% 1,158 +1.4% -0.4% -3.5% 545

  14. Slide 14: Automotive Market

    AUTOMOTIVE MARKET LPG Sales Volume (‘000 tons) | AUTOMOTIVE SECTORS SGP’s market share in Thailand 16.9% 16.7% 17.5% 19.5% 21.0% AUTOMOTIVE PORTION 1,731 YoY: Total -12.4% | SGP +1.8% -15.3% 1,466 -10.0% 1,319 -11.3% 1,170 QoQ: Total -3.0% | SGP +6.6% 1,439 778 23% 1,221 1,089 942 -16.3% -5.9% -0.9%

  15. Slide 15: Industry Market

    INDUSTRY MARKET LPG Sales Volume (‘000 tons) | INDUSTRY SECTORS SGP’s market share in Thailand 23.4% 23.6% 24.3% 23.9% 24.5% INDUSTRY PORTION YoY: Total -4.7% | SGP -1.4% 677 638 +6.0% 584 600 +6.3% 17% +2.8% 487 QoQ: Total +3.7% | SGP +3.3% 483 515 448 459 367 171 157 163 +3.7% +9.3% +4.4% 155 162

  16. Slide 16: Agenda

    AGENDA • BUSINESS OVERVIEW • THAILAND BUSINESS • OVERSEA BUSINESS • FINANCIAL RESULTS • BUSINESS OUTLOOK • Q&A

  17. Slide 17: Oversea Network

    —_ 0 Refrigerated Cargo Me, OVERSEA NETWORK me Ww (W)) SIAMGAS \S/ GROUP ——— 2) Siam Ocean Gas & Energy Ltd. ee seers 100,000 Tons LPG Terminal SHANTOU | == <- nemo ®) Sino Siam Gas & Petrochemicals Co,Ltd. = r st @) 200,000 Tons LPG Terminal me FLOATING LPG TERMINAL di 45,000 DWT VLGC ee .

  18. Slide 18: Historical CP Price Movement

    HISTORICAL CP PRICE MOVEMENT 9 5 8 6 2007 3 2008 7 2009 4 2010 6 +385.0 -535.0 +387.5 +200.0 7 7 6 2 2011 5 2012 5 2013 6 2014 10 -130.0 +185.0 +182.5 -602.5 6 6 6 2 6 2 2015 6 2016 6 2017 4 2018 4 -92.5 -67.5 +180.0 -150.0

  19. Slide 19: Saudi Aramco CP vs Crude Oil

    SAUDI ARAMCO CP VS CRUDE OIL USD/TON 2017 2018 655 700 635 Q1 +140.0 -107.5 600600 595 580580570570 560570 Q2 -152.5 +87.5 600 505 505 655525 520535530 495 490 500 460 575575590590 465470 580 600 470 Q3 +102.5 +57.5 500 560555 420 435445 540415 415 510 390390 525 500 515525 Q4 +90.0 -187.5 480 365 4

  20. Slide 20: Trading Business Sale Volume

    TRADING BUSINESS >>> 9M/2019 >>> By SIAM GAS TRADING PTE. LTD. (100%) TARGET VOLUME 1,150,000 TONS GROWTH 22.0 % SUCCESS 89.4 % 1,027,802 122,198 9M | 2019 Remaining target QUARTERLY | SALE VOLUME (TONS) ANNUALLY | SALE VOLUME (TONS) 946,394 942,946 736,544 664,255 663,564 400,368 589,188 543,452 30

  21. Slide 21: Retail Business Singgas Sale Volume

    RETAIL BUSINESS >>> 9M/2019 >>> BY SINGGAS (LPG) PTE. LTD. (95%) TARGET VOLUME 22,500 TONS GROWTH 5.2 % SUCCESS 68.3 % 15,363 7,137 9M | 2019 Remaining target QUARTERLY | SALE VOLUME (TONS) ANNUALLY | SALE VOLUME (TONS) 25,683 24,375 21,396 21,041 21,401 21,772 21,866 5,353 5,458 17,872 4,935 8,793

  22. Slide 22: China Business Sale Volume

    RETAIL BUSINESS >>> 9M/2019 >>> BY 1. SINOSIAMGAS AND PETROCHEMICALS CO., LTD. (100%) TARGET VOLUME 1,300,000 TONS 2. SIAM OCEAN GAS & ENERGY LTD. (100%) GROWTH 1.7 % SUCCESS 69.4 % 902,715 397,285 9M | 2019 Remaining target QUARTERLY | SALE VOLUME (TONS) ANNUALLY | SALE VOLUME (TONS) 1,277,786 1,21

  23. Slide 23: Vietnam Business Sale Volume

    RETAIL BUSINESS >>> 9M/2019 >>> BY 1. SUPERGAS COMPANY LIMITED (100%) TARGET VOLUME 45,000 TONS 2. CITYGAS NORTH COMPANY LIMITED (70%) GROWTH 42.0 % SUCCESS 105.8 % 47,622 9M | 2019 Remaining target QUARTERLY | SALE VOLUME (TONS) ANNUALLY | SALE VOLUME (TONS) 185,274 166,814 143,628 17,745 13,931 67

  24. Slide 24: Mygaz Business Sale Volume

    RETAIL BUSINESS >>> 9M/2019 >>> BY MYGAZ SDN. BHD. (70% ) TARGET VOLUME 202,500 TONS GROWTH 38.3 % SUCCESS 51.9 % 105,019 97,481 9M | 2019 Remaining target QUARTERLY | SALE VOLUME (TONS) ANNUALLY | SALE VOLUME (TONS) 146,464 133,642 116,790 37,068 34,582 34,756 91,696 95,600 52,592 - - - 2010 2011 2

  25. Slide 25: Oversea Total Sale Volume

    9M/2019 >>> TARGET VOLUME 2,720,000 TONS GROWTH 12.4 % SUCCESS 77.2 % 2,098,522 621,478 9M | 2019 Remaining target 2,420,223 QUARTERLY | SALE VOLUME (TONS) ANNUALLY | SALE VOLUME (TONS) 2,156,314 2,025,809 1,782,877 736,324 649,069 645,946 1,428,978 1,307,220 797,880 629,177 78,079 2010 2011 2012 20

  26. Slide 26: Myanmar Power Plant Sale Volume

    230 MW. POWERPLANT SELL TO GOVERNMENT >>> BY MYANMAR LIGHTING (IPP) CO., LTD. (41.1%) QUARTERLY | SALE VOLUME (MW.) ANNUALLY | SALE VOLUME (MW.) 1,081,187 1,048,258 902,867 344,654 264,491 185,355 Y-2017 Y-2018 9M-2019 Q3/18 Q2/19 Q3/19 YoY -3.1 % YoY +42.7% QoQ -23.3%

  27. Slide 27: Myanmar Diesel Power Plant Sale Volume

    10 MW. DIESEL POWERPLANT SELL TO HOUSEHOLD >>> BY SOUTHERN MYANMAR DEVELOPMENT CO., LTD. (33.0%) COD In QUARTERLY | SALE VOLUME (MW.) ANNUALLY | SALE VOLUME (MW.) July 2018 3,558 1,158 1,313 1,262 402 Y-2018 9M-2019 Q3/18 Q2/19 Q3/19 YoY +214.3% QoQ -3.8%

  28. Slide 28: Financial Results

    * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A LLL! ae. ay aa

  29. Slide 29: Revenue Breakdown by Business

    Thailand Offshore 31.8% Oversea business 31.6% Logistic 35.9% Other (Service & Other & Dividend) 0.5% 0.3% 26.8% 30.2% 41.9% 0.8% 0.4%

  30. Slide 30: Revenue

    +15.9% -20.6% -2.7% -8.8% 69,103 62,157 840 58,339 59,629 980 51,176 886 757 49,773 48,378 594 401 19,246 684 47,329 17,927 17,756 36,903 16,742 34,661 38,403 111 246 160 15,274 27,902 35,132 105 33,652 136 13,807 12,197 12,294 11,489 9,869 24,274 22,921 19,792 20,340 20,934 15,451 15,720 5,328 5,48

  31. Slide 31: EBITDA and EBITDA Margin

    EBITDA EBITDA MARGIN EBITDA EBITDA MARGIN EBITDA EBITDA MARGIN 1,400 10% 6,000 12% 1,223 5,193 1,200 3,500 10% 1,050 8% 5,000 10% 3,093 1,000 3,000 6.35% 8.71% 5.91% 6% 8% 800 4,000 8% 2,500 600 4% 2,860 6.04% 6% 2,836 2,651 6% 2,000 334 3,000 5.91% 1,681 400 297 2.19% 2% 4.86% 1,500 200 4% 2,000 4%

  32. Slide 32: Net Profit and Margin

    1,500 11% 4,947 3,000 7% 5,000 10% 2,751 1,227 9% 6% 1,007 8.36% 2,500 4,000 8% 1,000 6.40% 5.42% 7% 738 5.71% 5% 3,037 2,891 2,000 560 3,000 6.00% 2,811 6% 5% 2,260 1,656 500 346 5.23% 1,605 4% 304 4.71% 1,500 3.84% 2.27% 3% 2,000 4% 3.34% 3.15% 1.82% 3.14% 3.30% 3% 1,119 - 1,116 Q3|2018 Q4|2018 Q1

  33. Slide 33: Assets, Liabilities & Equity

    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 Total Equity 38,020 38,020 35,804 35,804 2,495 1.63 1.52 2,849 3,824 6,909 1.34 1.37 4,818 9,337 1.17 1.14 6,263 1.05 0.95 1

  34. Slide 34: Business Outlook

    * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A Ln a. ar Ta

  35. Slide 35: LPG Sales Volume Outlook

    Sales volume (TONs) 2017 2018 OUTLOOK 2019 9M|2019 % Success LPG Sales Volume (Tons) SGP - Thailand 1,030,660.58 1,010,383.14 1,050,000.00 733,379.64 69.8% SGP - Thailand SGP Offshore Trading* 736,544.45 942,945.98 1,150,000.00 1,027,802.10 89.4% SGP Offshore Trading China 1,219,476.64 1,277,786.33

  36. Slide 36: Dividend History

    2019 0.10- 2018 0.25 0.20 2017 0.50 1.00 2016 0.15 0.35 2015 0.20 0.30 2014 0.15 0.20 2013 0.10 0.50 2012 0.15 0.25 2011 0.15 0.30 2010 0.20 0.30 2009 0.20 0.30 Interim Final 2008 0.15 0.25 SGP split par from Bt1.00 to Bt 0.50 in May 2018

  37. Slide 37: Questions Are Welcomed

    ° @ @ QUESTIONS ARE WELCOMED !

Siamgas and Petrochemicals Public Company — Q3 2019 Earnings Presentation on 6ix