Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q3 2020 Earnings Presentation
13 slides from Tipco Asphalt Public's earnings presentation, Nov 12, 2020
Slide 1: Tipco Asphalt 4-2020 Opportunity Day (Q3 2020 Operational Results)
Tipco Asphalt Public Company Limited (TASCO) 4-2020 Opportunity Day (Q3 2020 Operational Results) 12th November 2020
Slide 2: Disclaimer
Disclaimer This presentation material has been prepared solely for informational purposes only. TASCO is furnishing it solely for use by prospective investors / analysts in the proposed event. TASCO makes no representations or warranties as to the accuracy or completeness of such information. By acc
Slide 3: Agenda
Agenda 1 Q3 2020 Financial Performance 2 Q3 2020 Highlights 3 Outlook 4 Q&A
Slide 4: Sales & Services Revenue & Sales Volume
Sales & Services Revenue & Sales Volume Sales & Services Revenue • Sales and services stood at Baht 8,576 million, reflecting a decrease of Unit: Mil. THB 9.2% from the same period of last year due to reduction in total sales 36,893 volume, in particular our international market. 10,784 5,111 7,091
Slide 5: Operating Gross Profit
Operating Gross Profit Operating Gross Profit • The significantly improved gross profit margin was attributed mainly Unit: Mil. THB to the higher retail sales volume and average retail asphalt selling 2020 2019 4,174 price in Thailand, Malaysia, Vietnam and Cambodia. 2,504 2,567 1,168 916 1,076 1,01
Slide 6: EBITDA & Net Profit
EBITDA & Net Profit EBITDA Unit: Mil. THB • The Group’s cashflow generated from operations increased 3,953 substantially to Baht 2,361 million compared to Baht 939 million in 2,361 corresponding period in 2019 due to apparently improved performance 1,261 1,195 939 1,345 during Q3 2020 as compared to
Slide 7: Debt to Equity Ratio
Debt to Equity Ratio Debt/Equity Ratio 0.95 0.82 0.60 0.004 0.001 0.0005 Q3 2019 Q2 2020 Q3 2020 Total liabilities/Total equity LT debt/Total equity • The Group’s consolidated debt to equity ratio (D/E ratio) was 0.60 comparing to 0.95 in Q3 2019 due to the reduction of working capital financing for
Slide 8: Key Ratios and Historical Dividend
Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 2020 2019 2020 2019 18.0 25.0 24.2 15.6 21.1 11.6 10.3 13.5 17.8 15.4 12.6 8.2 6.6 7.7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1/ Return is based on sum of last 12 months net profit 2/ Return is based on sum of last 12 months ne
Slide 9: Expense relating to fire incident and insurance claim
Expense relating to fire incident and insurance claim • In October and November 2020, the refinery received the third partial payment of insurance claim approximately Baht 179 million Loss/(Gain) from the fire incident Q1 Q2 Q3 Oct / Nov 2018 2019 Total (Unit: Mil. THB) 2020 2020 2020 2020 Damaged A
Slide 10: Q3 2020 - Highlights
Q3 2020 - Highlights Refinery • KBC refinery still operated at high utilization rate at 87% to meet the tight supply in the market Domestic Market • Acceleration of 2020 government budget disbursement boosted strong demand in Thailand • Tight asphalt supply resulted in high asphalt selling price due
Slide 11: Asphalt Selling Price vs. Ice Brent Price
Asphalt Selling Price vs. Ice Brent Price Unit: USD/barrel Avg. asphalt selling price Avg. Ice Brent price 80.1 74.9 76.0 71.4 70.1 67.2 68.1 65.3 68.9 71.2 67.1 64.7 60.0 61.5 71.2 57.3 68.3 52.2 57.9 63.5 63.6 63.3 63.8 54.7 50.9 52.2 62.2 62.0 62.5 51.1 57.9 47.1 55.2 45.8 46.9 53.8 51.0 43.4 51.
Slide 12: Outlook
Outlook Refinery • With current crude inventory, it is sufficient for refinery to operate beyond Q1 2021 • The Company commits strictly to the winding down of crude oil procurement from Venezuela • The Company has identified several sources of alternative crude supply and in the midst of evaluation
Slide 13: Thank You
THANK YOU Any queries, please contact: At email: investors@tipcoasphalt.com Tel: 662-273-6642 www.tipcoasphalt.com
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