Electricity Generating Public Co., Ltd. · SET:EGCO
Electricity Generating Public — 9M 2007 Earnings Presentation
39 slides from Electricity Generating Public's earnings presentation, November 2007
Slide 1: Corporate Presentation: Nine-Month Period Financial Results Ended 30 September 2007
Corporate Presentation Nine - Month Period Financial Results Ended 30 September 2007
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 • EGCO Group’s Overview • EGCO Group’s Investment • Financial Results • Appendices 3
Slide 4: EGCO Group's Overview
oO uss [- G C O Energy for life GROUP EGCO Group’s Overview
Slide 5: 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 5
Slide 6: EGCO Group's Strategic Direction
EGCO Group’s Overview EGCO Group’s Strategic Direction • 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 • Negotiate on REGCO & K
Slide 7: EGCO Group Investment
Corporate Overview EGCO Group Investment 7
Slide 8: EGCO Group's Investment
EGCO Group’s Investment • Projects under Construction • Future Projects
Slide 9: Projects under Construction: GPG (Kaeng Khoi 2)
Projects under Construction GPG (Kaeng Khoi 2) Location : Saraburi, Thailand Technology : Combined Cycle Power Plant Installed Capacity : 1,468 MW (Unit #2 - 734 MW) Type of Fuel : Natural Gas PPA : 25-year with EGAT COD : 1 March 2008 (unit #2) ( Unit #1 - 5 May 2007) EGCO Mitpower Estimated Projec
Slide 10: Projects under Construction: Nam Theun
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 EGCO LHSE* 25% Project Progress : Construction phase 25%
Slide 11: EGCO Group's Investment
EGCO Group’s Investment • Projects under Construction • Future Projects
Slide 12: Future Projects: Nam Theun Project
Future Projects Nam Theun 1 Project Location : Bolikhamxay, Laos Technology : Hydroelectric Power Plant Installed Capacity : 523 MW Type of Fuel : Hydro COD : 2013 Laos 20 % EGCO 40 % Project Progress EGCO signed Tariff MoU with EGAT Gamuda 40 % 12
Slide 13: 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 conduct a feasibility study WEGCO 20 % PTT 30 % 13
Slide 14: Future Projects: Waste-Powered Electricity Plant Project
Future Projects Waste – Powered Electricity Plant Project Location : Phuket, Thailand Capacity : 20 MW Cost of Project : 1,600 MM Baht SEPCO Asia 15% EGCO Project Progress 50% EGCO signed MoU with PTT and SEPCO- PTT Asia Group conduct a feasibility study 35% Note: Tentative por tion for investment 1
Slide 15: 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 EGCO 20 % PTT Project Progress 50% EGCO signed MoU with EGAT and PTT conduct a feasibility study LNG Receiving EGAT Terminal 30% Note: Tentative por tion for investment 1
Slide 16: Financial Results
2 "< EG C O Energy for life GROUP Financial Results
Slide 17: Operating Results - Net Profit and EBITDA
Financial Results Operating Results - Net Profit and EBITDA Ended September 30, 2007 and 2006 MM baht 9M07 9M06 9,974 7,810 7,390 5,054 609 99 -614 -456 -949 -835 -1,613 -1,581 EBITDA Interest Tax Depre & Amort Fx Gain (Loss) Net Profit after Fx, Tax 17
Slide 18: Segmental Operating Results, Ended September 30, 2007
Financial Results Segmental Operating Results Ended September 30, 2007 MM baht 18
Slide 19: Segmental Operating Results, Ended September 30, 2006
Financial Results Segmental Operating Results Ended September 30, 2006 MM baht 19
Slide 20: Cashflow
Financial Results Cashflow Ended September 30, 2007 and 2006 MM baht 20
Slide 21: Summary of Debt Structure
Financial Results Summary of Debt Structure Total Outstanding Balances Total Facilities 30 September 2007 USD 192 M. USD 48 M. JPY 1,260 M. JPY 873 M. Baht 20,287 M. Baht 11,775 M. • Total facilities and total outstanding balances of EGCO Group (Not in EGCO’s portion) • Total outstanding balances in
Slide 22: Financial Ratio Highlights
Financial Results Financial Ratio Highlights 22
Slide 23: Capital Expenditure from 2007-2009
Financial Results Capital Expenditure from 2007- 2009 MM baht 2007 Total (Jan - Sep) 2007 2008 2009 GPG (KK 2) 1,485 2,331 - - BLCP 7,903 7,903 - - NTPC (NT II) - - 903 1,510 NT I 67 248 391 - 23
Slide 24: Dividend Policy
Financial Results Dividend Policy Baht/Share 4.50 4.00 4.00 3.50 3.25 3.00 3.00 2.75 2.00 2.50 2.50 2.25 1.75 1.50 2.00 1.50 1.25 1.50 1.25 1.00 2.25 2.00 1.50 1.50 0.50 1.00 1.25 1.25 0.00 Year 2001 2002 2003 2004 2005 2006 2007 Interim Final “In the absence of unforeseen circumstances, the company
Slide 25: Appendices
Appendices • Thailand’s Electricity Industry Overview • Corporate Overview • Operating Performance (REGCO & KEGCO)
Slide 26: Thailand's Electricity Industry Overview: Current Supply Industry
Thailand’s Electricity Industry Overview Current Electricity Supply Industry National Energy Policy Council is the MOE’s primary committee in setting the NEPC country’s energy policies to be proposed to Cabinet for approval. MOE Ministry of Energy • Energy Policy and Planning Office is responsible f
Slide 27: Thailand's Electricity Industry Overview: Historical Demand Growth
Thailand’s Electricity Industry Overview Historical Demand Growth 22,586.10 MW or 7.23% increase MW (as at 24 April 2007) 23,000 21,064 MW or 22,000 2.57% increase 21,000 2007 20,000 2006 19,000 2005 18,000 2004 17,000 2003 16,000 2002 15,000 14,000 27 January February M arch April M ay June July Au
Slide 28: Appendices
Appendices • Thailand’s Electricity Industry Overview • Corporate Overview • Operating Performance (REGCO & KEGCO)
Slide 29: EGCO Shareholding Structure as of September 2007
Corporate Overview EGCO Shareholding Structure as of 10 September 2007 EGAT OneEnergy Thailand Ltd. (owned by One Energy 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 Dep
Slide 30: EGCO Board of Directors
Corporate Overview EGCO Board of Directors EGAT Directors EGCO President • Chairman of the Board • Mr. Visit Akaravinak (Mr. Sanit Rangnoi) • Mr. Chamnong Wongsawarng • Mr. Sombat Sarntijaree • Mr. Narongsak Vichetpan Board of Directors OneEnergy Directors Independent Directors • Mr. Richard McIndoe
Slide 31: EGCO Group Structure
Corporate Overview EGCO Group Structure 4,143.6 Majority Owned EGCO EGCO Equally or Minority Owned 2,156.6 MW 1,987.0 MW 1,232.0 7.0 824.0 93.6 717.0 26.4 49.6 267.5 926.5 50% 100% 50% 99.1 25% 50% 1,853.0 100% 100% 100% EGCO JD REGCO BLCP EGCO BVI NT 2 GEC KEGCO ESCO 1,232.0 1,434.0 1,070.0 824.0 4
Slide 32: Thailand's New Capacity from 2006-2010
Corporate Overview Thailand’s New Capacity from 2006-2010 New Allocated Power Plants Share of New Capacity by Company from 2006 - 2010 EGCO EGAT Other Players MW 4,500 4,143 4,143 3,875 OTHERS 4,000 3,508 22% EGCO 21% 3,500 3,000 2,416 Jana# 1 2,500 J POWER 700 MWSouth BKK#3 9% 2,000 746 MW Ratchabu
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 F
Slide 34: Appendices
Appendices • Thailand’s Electricity Industry Overview • Corporate Overview • Operating Performance (REGCO & KEGCO)
Slide 35: Annual Net Generation & Electricity Sales 2002-2006
Operating Performance (REGCO & KEGCO) Annual Net Generation & Electricity Sales for the Year 2002-2006 Net Generation Electricity Sales MM Baht 7,269 GWh 6,201 6,133 6,393 6,274 5,975 5,947 5,811 5,837 5,528 5,448 5,392 5,273 5,349 5,039 4,605 4,358 4,339 4,224 3,796 2002 2003 2004 2005 2006 2002 20
Slide 36: Major Maintenance Expenses for the Year 2007
Operating Performance (REGCO & KEGCO) Major Maintenance Expenses for the Year 2007 MM Baht 36
Slide 37: Major Maintenance Expenses for the Year 2006
Operating Performance (REGCO & KEGCO) Major Maintenance Expenses for the Year 2006 MM Baht 37
Slide 38: Equivalent Availability Factor, 1st-3rd Quarter 2007 and 2006
Operating Performance (REGCO & KEGCO) Operating Performance Equivalent Availability Factor for the 1st – 3rd Quarter of 2007 and 2006 38
Slide 39: Net Generation and Fuel Consumption, 1st-3rd Quarter 2007 and 2006
Operating Performance (REGCO & KEGCO) Net Generation and Fuel Consumption for the 1st - 3rd Quarter of 2007 and 2006 39
Electricity Generating Public Company Limited (EGCO) — 9M 2007 Earnings Presentation on 6ix