Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q1 2022 Earnings Presentation
40 slides from Siamgas & Petrochemicals Public's earnings presentation, Jun 1, 2022
Slide 1: 1Q/2022 Performance
1Q/2022 Performance SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED
Slide 2: 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 SGP, “shar
Slide 3: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 3
Slide 4: Major Shareholders
MAJOR SHAREHOLDERS 55.0% (Weeraborwornpong Group) Domestic Fund Foreign 0.1% 29.9% Retail 12.6% Thai NVDR 2.4% 45.0% PUBLIC Latest book closing : On 10 MAR 2022 4
Slide 5: Company history and acquisitions
Business acquisition (LPG Business) 1976 Founded the company 2013 • MYGAZ in Malaysia • CITYGAS NORTH in Vietnam 2004 Business acquisition – UNIQUEGAS Investment 2016 • 230 MW. COMBINE CYCLE 2005 Founded logistic service POWERPLANT in Myammar Investment • Listed in SET 2018 • 10 MW. DIESEL 2008 • Se
Slide 6: Thailand and Oversea businesses
THAILAND OVERSEA 1 LIQUEFIED PETROLEUM GAS (LPG) 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 3 • Myanmar 6 CONTAINER TERM
Slide 7: Thailand and overseas market highlights
THAILAND LPG market in Q1/2022 is steady compare to the same period last year due to Covid 19 situation. The Company’s sale in industrial sector increases strongly due to higher demand from auto part manufacture and poultry farm. LPG price was lifted Baht 1.00 per kg. from 1 APR 2022. OVERSEAS CP pr
Slide 8: LPG business / Other business
LPG business OTHER business 8
Slide 9: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 9
Slide 10: LPG Domestic
agqwiind ing _. om 4 alaky) uv LPG DOMESTIC
Slide 11: LPG distribution chain
SGP COMMERCIAL FILLING USERS PLANTS COOKING LPG RETAILERS AGENT GAS SEPARATION PLANTS HOUSEHOLD FILLING USERS PLANTS REFINERIES SGP INDUST. TERMINALS INDUSTRIAL & & USERS DEPOTS SGP AUTO-LPG AUTOMOTIVE STATIONS MOTORISTS AGENT AUTO-LPG STATIONS 11
Slide 12: SGP's network in Thailand
SGP’s: NET WORIGIN THAILAND Lampang Depot Nakornsawan Depot Nakornsawan Suksawat Terminal Samut Prakan Surat Thani Terminal 2 a Surat Thani ; r fe tL ; Se = of = Terminals — ae — z ml Surat Thani Terminal Surat Thani
Slide 13: LPG Sales Volume and market share
Yearly Quarterly LPG Sales Volume (‘000 tons) LPG Sales Volume (‘000 tons) YoY: Total +3.7% | SGP -0.4% 4,011 -5.3% 3,799 -10.8% 3,389 -0.5% 3,372 QoQ: Total -0.3% | SGP +0.3% 3,027 2,847 2,583 2,613 895 892 860 -3.3% 892 -15.4% -5.8% 661 697 693 984 952 805 759 693 199 199 198 199 2018 2019 2020 20
Slide 14: LPG Sales Volume: Cooking
Yearly Quarterly LPG Sales Volume (‘000 tons) LPG Sales Volume (‘000 tons) YoY: Total +0.1% | SGP -3.7% 2,164 -1.8% +0.8% 2,125 -4.4% 2,033 2,049 QoQ: Total -1.6% | SGP -1.3% 1,570 1,556 522 532 523 1,530 1,560 -4.2% -11.7% -2.6% 523 394 406 399 594 569 502 489 399 124 129 125 124 2018 2019 2020 202
Slide 15: LPG Sales Volume: Automotive
Yearly Quarterly LPG Sales Volume (‘000 tons) LPG Sales Volume (‘000 tons) YoY: Total +7.3% | SGP -4.4% 1,170 -12.6% QoQ: Total +2.6% | SGP -0.2% 1,023 -26.4% 752 181 -14.4% 644 169 176 942 800 584 143 147 516 181 134 -2.3% -24.5% -24.2% 228 223 169 128 147 35 34 34 34 2018 2019 2020 2021 3M/2022 1Q
Slide 16: LPG Sales Volume: Industrial
Yearly Quarterly LPG Sales Volume (‘000 tons) LPG Sales Volume (‘000 tons) YoY: Total +10.8% | SGP +15.2% +12.4% 677 -3.8% 679 651 -7.2% QoQ: Total +0.7% | SGP +6.2% 604 515 537 186 188 491 169 469 -1.4% 188 -15.6% +5.4% 134 148 147 162 160 147 135 142 36 39 41 41 2018 2019 2020 2021 3M/2022 1Q'21 4
Slide 17: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 17
Slide 18: LPG Oversea
LPG OVERSEA
Slide 19: Butane, Propane and Brent oil prices
USD/TON JAN 577.5 920 1000 2020 2021 DEC 455.0 830 795 900 775 8 3 1 +7.5 Q1 +7.5 +155.0 750 710 895 800 Q2 -115.0 -82.5 665 870 655 620 595 800 590 795 585 700 Q3 +20.0 +137.5 775 545 740 530 530 525 600 Propane [C3] 480 475 Q4 +95.0 +107.5 460 665 660 440 625 620 605 500 Butane [C4] 380 2021 2022
Slide 20: Wholesale sale volume
3M/2022 Related party, Third party, 274,046 , 1,654,000 15.9% 21.4% 354,407 , 44% 56% Target growth success WHOLESALE YoY +5.2% QoQ -5.0% 1,434,873 1,426,789 1,241,420 373,005 354,407 337,015 942,946 24.8% of 2021 354,407 1Q|21 4Q|21 1Q|22 2018 2019 2020 2021 3M/2022 Sale volume (ton) (Quarterly) Sa
Slide 21: Oversea sale volume
•311,593 TON • 34,993 TON • 19,941 TON • 3,948 TON •YoY +57.4% •YoY -1.7% •YoY +46.5% •YoY +0.6% •QoQ +27.2% •QoQ -3.4% •QoQ +26.9% •QoQ +11.2% 1,196,000 8.7% 31.0% CHINA MALAYSIA VIETNAM SINGAPORE 84.1% 9.4% 5.4% 1.1% Target growth success YoY +47.6% 1,477,277 1,416,848 QoQ +23.3% 1,194,386 1,100,0
Slide 22: Oversea LPG sale volume
48.9% 43.0% 4.8% 2.8% 0.5% Trading 2,850,000 12.8% 25.4% China Malaysia Vietnam Singapore Target growth success 2,851,721 YoY +23.3% 2,435,806 2,526,815 2,420,223 QoQ +7.6% 724,882 673,530 28.7% 588,099 of 2021 724,882 1Q|21 4Q|21 1Q|22 2018 2019 2020 2021 3M/2022 Sale volume (ton) (Quarterly) Sale
Slide 23: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 23
Slide 24: Power Plant
POWER PLANT
Slide 25: Power plant annual sale volume (MW)
230 MW. COMBINE CYCLE 10 MW. DIESEL POWERPLANT POWERPLANT SELL TO GOVERNMENT >>> SELL TO HOUSEHOLD >>> ANNUALLY | SALE VOLUME (MW.) 1,358,415 YoY YoY 1,256,970 1,268,385 -5.9% -12.4% -18,652 MW. -210 MW. 24.5% 6,580 6,750 21.9% of 2021 4,964 QoQ of 2021 QoQ 310,879 +14.9% 1,479 -6.6% +40,285 MW. -10
Slide 26: Liquid Tank Farm and Deep Sea Port
LIQUID TANK FARM AND DEEP SEA PORT
Slide 27: Liquid tank farm and oil trading sale volume
LIQUID TANK FARM & OIL TRADING OVERSEA DEEP SEA PORT SERVICE BUSINESS UNIT CAPACITY OCCUPIED ANNUALY | SALE VOLUME (BARRELS) OCCUPIED AVALABLE YoY (MIL.LITRE) BY 1,969,494 -53.2% 4 15.27 2 2 2 -384,147 Barrel (avg. 3.82/unit) 17.2% 4 27.05 0 0 4 1,204,225 of 2021 QoQ (avg. 6.76/unit) 338,505 +116.4%
Slide 28: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 28
Slide 29: Financial Report 1Q/2022
FINANCIAL REPORT 1Q/2022
Slide 30: Revenue breakdown Thailand vs Oversea
3M/2022 Thailand 16.3% 3M/2021 Oversea 83.7% Thailand 24.0% Oversea 76.0% Offshore 37.8% Offshore 37.6% Oversea Thailand business Oversea 15.4% 45.8% Thailand business 22.0% 38.4% Other Other (Service & (Service & Other & Logistic Other & Dividend) Dividend) Logistic 0.7% 0.2% 1.6% 0.4% 30
Slide 31: Consolidated revenue Bt.9,477 m, +54.4% YoY
3M/2022 Consolidated revenue of Bt.9,477 m shows a +54.4% yoy growth YoY QoQ Unit : Million Baht +54.4% +12.0% 79,511 +9,477 M.Baht +2,875 M.Baht 69,103 1,491 67,442 840 607 TOTAL 55,641 26,907 REVENUE 24,032 1,123 33.8% 242 OTHER 20,010 248 of 2021 17,429 18,039 357 26,907 339 547 22,520 OVERSEA 19
Slide 32: Consolidated EBITDA Bt.1,713 m, -17.4% YoY
3M/2022 Consolidated EBITDA of Bt.1,713 m shows a -17.4% yoy decline EBITDA EBITDA MARGIN YoY QoQ Unit : Million Baht -17.4% -2.4% -362 M.Baht -42 M.Baht 7,000 6,633.99 15% 2,500 15% 6,000 13% 2,075 2,075 13% 25.8% 1,755 2,000 11% 1,713 11% 11.90% 5,000 4,326.89 of 2021 9% 1,500 10.37% 9% 3,314.92 4
Slide 33: Consolidated net profit Bt.989 m, -25.2% YoY
3M/2022 Consolidated NET PROFIT of Bt.989 m shows a -25.2% yoy decline NET PROFIT NET PROFIT MARGIN YoY QoQ -25.2% -0.3% Unit : Million Baht -333 M.Baht -2 M.Baht 4,000 3,809 8% 26.0% 3,500 7% 1,400.00 1,322 1,321 9.00% of 2021 3,000 6% 8.00% 1,200.00 992 989 7.00% 7.59% 2,500 5% 2,062 1,000.00 4.79
Slide 34: Assets, liabilities, equity and debt
ASSET (THB Million) LIABILITIES (THB Million) EQUITY (THB Million) Cash & Equivalents Inventory Short term loan Current liabilities Total Equity Other asset PP&E Long term Debt Non current liabilities +1.8% 51,831 50,894 2,611 3,014 +0.1% +5.4% 34,101 34,139 17,692 11,153 10,488 16,793 9,213 5,506 1
Slide 35: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 35
Slide 36: LPG sales volume forecast 2022
LPG Sales Volume (Tons) SALE VOLUME FORECAST 2022 Sales volume (TONs) 2019 2020 2021 Outlook 2022 3M|2022 % Success SGP - Thailand SGP Offshore Trading SGP - Thailand 983,246.31 811,385.58 759,967.81 800,000.00 199,734.83 25.0% China Vietnam Offshore Trading 1,434,872.89 1,241,419.64 1,426,789.43 1,
Slide 37: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 37
Slide 38: Dividend policy and historical dividend payment
DIVIDEND POLICY HISTORICAL DIVIDEND PAYMENT The Company has established the policy to 2021 0.20 0.80 pay dividends to the shareholders at the 2020 0.10 0.40 rate of not less than 40% of the net profit 2019 0.10 0.25 after corporate income tax, accumulated 2018 0.25 0.20 loss brought forward (if any)
Slide 39: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 39
Slide 40: Questions are welcomed!
QUESTIONS ARE WELCOMED ! 40
Siamgas and Petrochemicals Public Company — Q1 2022 Earnings Presentation on 6ix