Petkim Petrokimya Holding Anonim Sirketi · BIST:PETKM
Petkim Petrokimya Holding Anonim Sirketi — Petkim Petrokimya Holding A.Ş. — Q1 2017 Earnings Presentation
15 slides from Petkim Petrokimya Holding Anonim Sirketi's earnings presentation, May 8, 2017
Slide 1: 1Q17 Results - Investor Presentation
1Q17 Results - Investor Presentation PETKİM PETROCHEMICAL HOLDING CORPORATION 08 May 2017
Slide 2: Ethylene – Naphtha spread averaged US$ 574/ton in 1Q17
Ethylene – Naphtha spread averaged US$ 574/ton in 1Q17 • There was an increase in the ethylene-naphtha spreads from average of US$ 447/ton in the 4Q16 to US$ 574/ton in the 1Q17. • Naphtha cracker margins in the first quarter of 2017 were particularly strong and much higher than the first quarter of
Slide 3: PLATT's Index averaged US$ 991 per ton in 1Q17
PLATT’s Index averaged US$ 991 per ton in 1Q17 • PLATT’s index increased to $991 per ton in 1Q17 from $862 per ton in 4Q16. • Upward trend in global petrochemical pricing index. Monthly Average Platts Index 1.029 994 962 950 913 USD/tonne 879 880 874 862 858 852 835 831 825 758 731 Jan-16 Feb-16 Mar
Slide 4: Feedstock vs. Product Prices in 1Q17
• Feedstock vs. Product Prices in 1Q17 Petkim - Thermoplastics & Naphtha Spread Strong performance through operational and commercial improvements. Remarkably high CUR as % 98,4. 1.263 1.230 1.232 1.263 1.241 1.230 1.293 1.235 1.284 1.305 1.197 1.181 1.117 1.138 In 1Q17, production was 22kton higher
Slide 5: Costs and Operational Efficiency in 1Q17
Costs and Operational Efficiency in 1Q17 Plant Cost Base Breakdown 1Q17 Ethylene Facility Capacity Utilization Rate 3,3% 5,0% 98,6% 102,3% 100,0% 98,0% 99,4% 97,4% 98,0% 99,2% 98,1% 96,3% 92,2% 93,6% 7,7% Raw material Energy Labor Other 51,4% 83,9% Ma r-16 Apr-16 May-16 Jun-16 Jul -16 Aug-16 Sep-16
Slide 6: In 1Q17 Petkim recorded TL 1.774mn sales via 492k ton volume
• In 1Q17 Petkim recorded TL 1.774mn sales via 492k ton volume Sales Volume (ton k)- 1Q17 Revenue (TL mn)- 1Q17 1Q17 Volume: 492k ton 1Q17 Revenue: TL 1.774mn 458 97 89 251 43 41 148 34 37 127 128 130 126 29 110 111 25 28 23 71 16 16 16 35 51 29 PVC LDPE HDPE PP ACN MEG PTA Benzene PY-Gas C4 P-X Kos
Slide 7: PETKIM 1Q17 Income Statement
• PETKIM 1Q17 Income Statement TL mn 1Q15 1Q16 Sales 1.108,5 1.766,2 Cost of sales (897,5) (1.298,0) Gross Profit 211,0 468,3 Gross profit % 19,0% 26,5% Marketing and sales expenses (10,8) (13,2) General admin. Expenses (39,9) (52,5) R&D Expenses (2,3) (3,1) Operating profit 158,0 399,5 Other income
Slide 8: PETKIM 1Q17 Balance Sheet
• PETKIM 1Q17 Balance Sheet TL mn 12M16 3M17 Cash and cash equivalents 1.267,2 2.018,1 Trade receivables 674,5 745,5 Inventory 604,3 644,2 Other receviables 30,8 39,2 Other current assets 83,2 132,8 Current assets 2.659,9 3.579,8 Non current assets 3.608,6 3.711,7 Total Assets 6.268,5 7.291,5 Short
Slide 9: PETLIM – Operations Commenced in December 2016
PETLIM – OperationsCommenced in December 2016 • PETLIM Port Project has 1.5 million TEU container handling capacity, 42 hectare main port area, 8 hectare off-dock service area terminal port. • APMT and Petkim’s 70% subsidiary PETLIM has a revenue sharing agreement for the 28 years (+4 years option)
Slide 10: Petkim - Wind Power Plant
Petkim - Wind Power Plant • Petkim is setting up a wind power plant with a total capacity of 51MW at the Petkim Peninsula. • The WPP is planned to generate 200GWh electricity per annum. • PETKİM signed an agreement with ALSTOM RENOVABLES ESPAÑA S.L.U and ALSTOM Power ve Ulaşım A.Ş (Alstom Türkiye) c
Slide 11: STAR Refinery
STAR Refinery • STAR Refinery will have 10 million tons /year crude oil refining capacity. • Petkim signed a 20-year off-take agreement with STAR Rafineri A.Ş to offtake 270,000 tonnes mixed-xylene and 1,600,000 tonnes naphtha annually. • Naphtha price will be set as the Platts’ FOB MED spot market
Slide 12: Appendix 1. Petrochemical Complex Flow Chart
Appendix 1. Petrochemical Complex Flow Chart LDPE Bag, greenhouse covers, film, cable, toys, pipes, bottles, hose, (350.000 ton/year) packaging Ethylene Plant HDPE Construction and water pipes, packaging film, toys, bottles, (96.000ton/year) soft drink crates, barrels MEG Polyster fiber, polyester f
Slide 13: Appendix 2. PETKIM's Ownership Structure
Appendix 2. PETKIM’s Ownership Structure State Oil Company of Azerbaijan Goldman Sachs Republic Petkim Stock Performance 87% Th Unit 100% Refinery Holding 160 150000 SOCAR Turkey Energy (RHAŞ) 150 125000 140 130 100000 120 75000 100% 110 100 50000 SOCAR Turkey Yatırım A.Ş. (RHAŞ 60%) 90 25000 (MED 4
Slide 14: Investor Relations
Investor Relations We welcome your questions, comments and suggestions. Our corporate headquarters office address is: Petkim Petrochemical Holding Corp. PO. Box.12 Aliağa, 35800 İzmir/ TURKEY To contact us with respect to shareholding relations for individual and corporate investors, please call dir
Slide 15: Disclaimer
Disclaimer This presentation is confidential and does not constitute or form part of, and should not be construed as, an offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Petkim Petrokimya Holding A.Ş. (the “Company”) or any member of its group nor should it or
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