Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q1 2015 Earnings Presentation
11 slides from Tipco Asphalt Public's earnings presentation, May 26, 2015
Slide 1: Q1/2015 Analysts Meeting
Tipco Asphalt Public Company Limited Q1/2015 Analysts Meeting 26th May 2015 บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 1
Slide 2: Agenda
Agenda 1 Q1/2015 Highlight 2 Performance Highlights 3 Q2/2015 Outlook บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 2
Slide 3: Q1/2015 Highlights: Total sales volumes
Q1/2015 Highlights: Total sales volumes Sales volumes by quarters Sales volumes concentration by market Unit: Mil tons Unit: % Domestic International 2.03 64% 84% 84% 84% 0.52 0.49 0.43 36% 16% 16% 16% Q1/2014 Q4/2014 Q1/2015 2014 Q1/2014 Q4/2014 Q1/2015 2014 • Although Q1/2015 total asphalt volume
Slide 4: Q1/2015 Highlights: International asphalt market selling price vs Ice Brent
Q1/2015 Highlights: International asphalt market selling price vs Ice Brent USD/Barrel 120.0 108 Avg. asphalt selling price 109 108 109 109 112 106 103 Ice Brent 100.0 95 86 80.0 70 67 63 60.0 58 55 53 92.3 87.5 86.2 86.7 87.0 86.6 40.0 85.6 85.4 86.9 87.7 87.2 81.6 57.8 53.2 57.1 62.0 20.0 0.0 • Th
Slide 5: Performance Highlights: Sales & Services Revenue
Performance Highlights: Sales & Services Revenue (Unit : THB Million) Sales & services Revenue • Sales and services stood at Baht 8,264 million 45,727 reflecting a decrease of almost 31% from the same period last year. • This decrease in revenue was mainly attributable to an abruptly drop in selling
Slide 6: Performance Highlights: Operating Gross Profit
Performance Highlights: Operating Gross Profit (Unit : THB Million) Operating Gross Profit(Inc. hedging & NRV) • The significantly improvement of overall gross profit margin was mainly due to the increase in asphalt prices arising from strong demand in both export and domestic market, and also a sta
Slide 7: Performance Highlights: SG&A & EBITDA
Performance Highlights: SG&A & EBITDA (Unit : THB Million) 797 • Selling and administrative expenses stood at Baht 38 million SG&A and Baht 154 million representing 0.46%, and 1.86% of sales and services, respectively. Comparatively, these expenses in the same period 2014 stood at Baht 34 million an
Slide 8: Performance Highlights: Net Profit After Tax
Performance Highlights: Net Profit After Tax (Unit : THB Million) 222 Finance Cost • Financial expense in 1st quarter 2015 was Baht 54 million, similar to financial expense in the same period of 2014 of Baht 55 million. 55 59 54 Q1 2014 Q4 2014 Q1 2015 Year 2014 (Unit : THB Million) Net Profit After
Slide 9: Performance Highlights: Debt to Equity Ratio
Performance Highlights: Debt to Equity Ratio ST loan vs Current asset Unit: THB million ST loan Current asset • The Group’s consolidated current ratio has improved to 13,862 1.6 due to decrease in crude price and improved “crude to cash conversion cycle” in 1st quarter 2015 as 8,409 compared to 2014
Slide 10: Q2/2015 Operations outlook
Q2/2015 Operations outlook • Crude: Expect to see volatility in Brent price but stay within $60-$70 price range in Q2. Nevertheless, we will manage this by effective hedging strategy • Refinery: • With almost 100% refining process volume, the Group continued to enjoy high efficiency in fuel consumpt
Slide 11: Q2/2015 Market outlook
Q2/2015 Market outlook • Domestic market: • Expect disbursement of Baht 40,000 million of government budget in Q2/2015 and also Q3/2015 • Substantially increase in usage of natural rubber modified asphalt products • International market • Strong demand especially in Indonesia due to government roadm
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