Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q2 2025 Earnings Presentation
37 slides from Siamgas & Petrochemicals Public's earnings presentation, 2025
Slide 1: 2Q/2025 Investor Presentation
SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED 2Q/2025 Investor Presentation
Slide 2: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 2
Slide 3: Shareholding Structure
SHAREHOLDING STRUCTURE Domestic Fund MAJOR SHAREHOLDERS 0.04% (Weeraborwornpong Group) PUBLIC Retail 55.7 12.57% % Foreign 814.32 31.43% Million Shares Thai NVDR 1,837.86 0.26% Million Shares PUBLIC 44.3 % 3 Latest book closing : On 14 MAR 2025
Slide 4: Milestones
MILESTONES 1976 » Founded the company aura 2016 » Investment ¢ 230 MW. COMBINE CYCLE POWER PLANT in Myanmar ] 200. > Business acqui + UNIQUEGAS a uy oe 2018 » Investment #10 MW. DIESEL, POWER PLANT in Myanmar 3 ion 2005 2008 > Founded marine and _» Listed in SET land logistic > Setup cylinder i manu
Slide 5: Business Operation
BUSINESS OPERATION THAILAND OVERSEA 1 LIQUEFIED PETROLEUM GAS (LPG) LIQUEFIED PETROLEUM GAS (LPG) • Singapore 2 ROAD TRANSPORTATION • China 1 • Malaysia 3 MARINE TRANSPORTATION • Vietnam • Laos 4 CYLINDER MANUFACTURING COMBINE CYCLE POWER PLANT 2 5 OIL RETAIL BUSINESS • Myanmar DIESEL POWER PLANT 3
Slide 6: Business Update
BUSINESS UPDATE THAILAND The Company imported LPG approximately 60,000 metric tons In Q2/2025. The import amount is in line with the Company’s plan to partially import LPG to domestic market. Domestic sales volume in Q2/2025 increased 1.9% compares to the same period last year due to increase in
Slide 7: SGP's Presence
SGP’s PRESENCE South China, Shantou LPG LPG Business SOGEL Vietnam, HaiPhong LPG SUPERGAS Other Business Myanmar, Mawlamying South China, Zhuhai MLIPP LPG Powerplant 230 MW. SINOSIAMGAS Laos Prasansack LPG LPG Business Myanmar, Anin Thailand SMD LPG SIAMGAS & UNIQUEGAS Diesel Powerplant 10 MW. Thail
Slide 8: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 8
Slide 9: Value Chain
VALUE CHAIN Customers / Procurement Inbound Logistics SGP Terminal & Depots Outbound Logistics Consumers LPG Transport LPG from separation plant by Fill in LPG cylinder for delivery. truck tanker to the Company’s Terminal COOKING and Depot. LPG AUTOMOTIVE Suksawat Terminal Transport LPG from refiner
Slide 10: Thailand LPG Market – All Sectors
THAILAND LPG MARKET – ALL SECTORS SALE VOLUME (TON) MARKET SHARE (%) 50.3% +7.4% +1.7% Of -0.5% +0.4% Y2024 3,626 3,700 3,372 3,639 38.6% 21.3% 1,845 Market -5.8% +5.3% +1.9% -0.9% Share 2 MARKET 759 775 790 782 12.5% 393 SIAMGAS Others 18.1% YEAR Unit : ‘000 tons 9.5% (7 com.) 2021 2022 2023 2024 6
Slide 11: Cooking Market
COOKING MARKET SALE VOLUME (TON) 50.4% +1.2% -0.05% +1.4% Of +0.8% 2,123 Y2024 2,049 2,094 2,095 1,062 -2.6% -0.3% -4.2% -2.6% 489 488 MARKET 467 474 239 SIAMGAS YEAR Unit : ‘000 tons 2021 2022 2023 2024 6M/2025 YoY: Total +2.7% | SGP +2.0% QoQ: Total -4.1% | SGP -7.0% MARKET SHARE (%) 47.0% 541.94
Slide 12: Automotive Market
AUTOMOTIVE MARKET SALE VOLUME (TON) -14.4% +25.4% +3.2% 50.6% 852 Of 799 825 -26.4% Y2024 644 414 -24.5% -24.2% +16.5% +6.2% MARKET 128 147 166 156 84 SIAMGAS YEAR Unit : ‘000 tons 2021 2022 2023 2024 6M/2025 YoY: Total -2.8% | SGP +3.7% QoQ: Total -1.5% | SGP -1.3% MARKET SHARE (%) 11.2% Others (6
Slide 13: Industry Market
INDUSTRY MARKET SALE VOLUME (TON) +8.8% -1.6% +0.6% 49.3% +12.4% 725 Of 679 732 721 Y2024 370 +5.4% +14.7% +18.8% -15.1% MARKET 142 167 140 142 70 SIAMGAS YEAR Unit : ‘000 tons 2021 2022 2023 2024 6M/2025 YoY: Total +5.4% | SGP +8.0% QoQ: Total -5.3% | SGP -5.1% MARKET SHARE (%) 45.5% 19.0% 189.79 1
Slide 14: M.10
M.10 SALE VOLUME (TON) 53.6% +33.3% Of 201 Y2024 +14.6% 151 132 106 +98.5% MARKET -17.1% 41 25 20 22 SIAMGAS YEAR Unit : ‘000 tons 2021 2022 2023 2024 6M/2025 YoY: Total +1.9% | SGP +2.6% Others QoQ: Total -2.8% | SGP -8.2% (7 com.) MARKET SHARE (%) 7.5% 12.8% 20.1% 51.07 53.55 52.05 Market 24.3% Sh
Slide 15: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 15
Slide 16: Saudi Aramco CP vs Crude Oil
SAUDI ARAMCO CP vs CRUDE OIL USD/TON 1000 790 Propane (C3) Butane (C4) LPG 900 720 635 635 635 630 630 625 625 620 800 605 600 600 615 615 615 610 610 610 590 590 580 580 580 555 555 550 790 700 740 470 600 450 400 640 640 630 630 630 625 620 620 620 620 615 615 605 605 605 595 590 500 585 570 570 5
Slide 17: Lead Time
LEAD TIME USA 30 1.5 30 5 45 Middle East 5.5 8 12 Supply from Middle East 7 3 Supply from Australia 2.5 Supply from USA 0.75 Receiving and distribution point 1 Delivery time Australia 7 Floating Storage 17
Slide 18: Offshore Trading Business
OFFSHORE TRADING BUSINESS SALE VOLUME (TON) -0.7% YoY -22.6% +2.1% -6.6% 1,416,870 37.7% 1,323,806 1,351,030 of QoQ -13.9% Y2024 304,391 509,102 273,547 235,555 YEAR UNIT : ‘000 TONS QUARTER 2022 2023 2024 6M/2025 2Q|24 1Q|25 2Q|25 OUTLOOK West ASIA East ASIA Southeast ASIA 1,500,000 2025 Target CUS
Slide 19: Retail Business
RETAIL BUSINESS SALE VOLUME (TON) +25.6% +6.9% 51.8% of 1,476,970 YoY -22.9% Y2024 1,382,207 -28.4% QoQ -20.0% 1,057,521 293,771 283,111 509,517 226,406 YEAR UNIT : ‘000 TONS QUARTER 2022 2023 2024 6M/2025 2Q|24 1Q|25 2Q|25 O 1,163,500 Target U PORTION T 10.0% L growth CHINA MALAYSIA VIETNAM SINGAPO
Slide 20: Total Sales Oversea
TOTAL SALES OVERSEA SALE VOLUME (TON) 42.3% YoY -22.8% +25.7% +0.1% of Y2024 -14.0% QoQ -17.0% 2,799,077 2,800,776 2,408,550 598,162 556,658 1,018,619 461,961 YEAR UNIT : ‘000 TONS QUARTER 2022 2023 2024 6M/2025 2Q|24 1Q|25 2Q|25 TRADING O 2,663,500 50.0% Target U T 10.6% L growth CHINA O 36.8% O 38
Slide 21: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 21
Slide 22: Power Plant
wey, POWER PLANT
Slide 23: Other Business
OTHER BUSINESS SELL TO HOUSEHOLD >>> SELL TO GOVERNMENT >>> SELL TO HOUSEHOLD >>> 230 MW. COMBINE CYCLE POWERPLANT 10 MW. DIESEL POWERPLANT ANNUALLY | SALE VOLUME (MW.) ANNUALLY | SALE VOLUME (MW.) +4.1% +6.3% 49.2% -10.8% 1,252,470 of YoY YoY 1,177,949 Y2024 -16.9% -6.4% 48.8% 1,131,506 +0.9% -7.3%
Slide 24: Liquid Tank Farm and Deep-Sea Port
LIQUID TANK FARM AND DEEP-SEA PORT
Slide 25: Other Business
OTHER BUSINESS LIQUID TANK FARM & DEEPSEA PORT SERVICE OIL TRADING OVERSEA BUSINESS Total Number ANNUALLY | SALE VOLUME (BARRELS) Capacity of Liquid Utilized No. (Mil.Liter) Tank As 30 JUNE 2025 Available 1 15.27 4 +30.9% YoY 2 2 (avg. 3.82/unit) 819,890 -51.0% -68.2% 41.8% 2 27.05 4 4 -123,723 Barr
Slide 26: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 26
Slide 27: Revenue Portion 6M/2025
REVENUE PORTION 6M/2025 Thailand 34.4% (Thailand LPG, Logistic & Other) REVENUE PORTION by PRODUCT LPG Oversea 65.6% LPG Oversea, (Offshore Trading & Retail Oversea Business) Domestic, 65.3% 25.6% 19,703 Million Baht Offshore Thailand 32.7% 32.0% Oversea Other, business 6.1% 33.2% OIL, 3.0% Other 0.
Slide 28: Revenue
REVENUE REVENUE (MILLION BAHT) 6M/2025 Consolidated REVENUE of Bt.36,383 m shows a -18.1% yoy decline YEARLY HALF–YEAR QUARTERLY Unit : Million Baht CP Price (Yearly Avg.) CP Price (Half-year Avg.) CP Price (Quarterly Avg.) YoY QoQ -20.6% -15.3% YoY -4,324 M.Baht -3,023 M.Baht -18.1% 735.63 -8,040 M
Slide 29: EBITDA & EBITDA Margin
EBITDA & EBITDA MARGIN 6M/2025 Consolidated EBITDA of Bt.1,075 m shows a -44.0% yoy decline EBITDA (MILLION BAHT) & EBITDA MARGIN (%) YEARLY HALF–YEAR QUARTERLY EBITDA CP Price (Change in CP) CP Price (Change in CP) CP Price (Change in CP) EBITDA MARGIN YoY YoY QoQ 317.5 -44.0% -74.3% -83.2% -844 M.
Slide 30: Net Profit & Net Profit Margin
NET PROFIT & NET PROFIT MARGIN NET PROFIT (MILLION BAHT) & NET PROFIT MARGIN (%) 6M/2025 Consolidated NET PROFIT of Bt.-435 m shows a -169.5% yoy growth YEARLY HALF–YEAR QUARTERLY NET PROFIT YoY YoY QoQ NET PROFIT MARGIN -169.5% -5,503.4% -547.6% -1,060 M.Baht -549 M.Baht -685 M.Baht 4,500.00 10.00%
Slide 31: Financial Position
FINANCIAL POSITION ASSET (THB Million) LIABILITIES (THB Million) EQUITY (THB Million) PP&E Other asset Shot term loan Current liabilities Total Equity Inventory Cash & Equivalents Long term Debt Non current liabilities 56,890 -2.3% 55,600 3,749 2,999 +0.1% 10,183 8,533 39,768 39,824 17,122 -7.9% 15,
Slide 32: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 32
Slide 33: 2025 Sale Volume vs Outlook
2025 SALE VOLUME vs OUTLOOK LPG Sales Volume (Tons) SALE VOLUME FORECAST 2025 Sales volume (TONs) 2023 2024 1H/2024 Outlook 2025 1H/2025 % Success % YoY SGP - Thailand SGP Offshore Trading SGP - Thailand 812,853.54 825,538.66 401,319.64 900,000 418,845.83 46.5% +4.4% China Vietnam Offshore Trading 1
Slide 34: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 34
Slide 35: Dividend Payment
DIVIDEND PAYMENT DIVIDEND POLICY HISTORICAL DIVIDEND PAYMENT 2025 0.10 The Company has established the policy to Interim 2024 0.15 0.20 pay dividends to the shareholders at the rate Final 2023 0.10 0.15 of not less than 40% of the net profit after 2022 0.20 0.20 corporate income tax, accumulated los
Slide 36: Q&A
Q&A 36
Slide 37: Thank You
THANK YOU 02-120-9999 # 3611,3612 sgp_ir@ugp.co.th www.siamgas.com 553 The Palladium Building 30th Floor, Ratchaprarop Road, Makkasan, Ratchathewi, Bangkok 10400 Thailand.
Siamgas and Petrochemicals Public Company — Q2 2025 Earnings Presentation on 6ix