Petronas Chemicals Group Bhd. · MYX:PCHEM
Petronas Chemicals Group Bhd — Petronas Gas Berhad — Q1 2020 Earnings Presentation
23 slides from Petronas Chemicals Group Bhd's earnings presentation, May 20, 2020
Slide 1: Analyst Briefing for Quarter Ended 31 March 2020
Analyst Briefing for Quarter Ended 31 March 2020 Wednesday, 20 May 2020 5:30 – 6:30 p.m. (GMT+8) © 2020 Petroliam Nasional Berhad (PETRONAS) All rights reserved. No part of this document may be reproduced in any form possible, stored in a retrieval system, transmitted and/or disseminated in any form
Slide 2: Disclaimer
Disclaimer © 2020 Petroliam Nasional Berhad (PETRONAS) |
Slide 3: PGB Management
PGB Management Kamal Bahrin Ahmad Shariza Sharis Abdul Razak Izan Hajar Ishak M Yusof Saim Managing Director/ Head, Business Chief Executive Chief Financial Development & Head, Investor Officer Officer Commercial Relations © 2020 Petroliam Nasional Berhad (PETRONAS) | 3
Slide 4: Presentation Outline
Presentation Outline 01 HIGHLIGHTS 02 OPERATIONAL PERFORMANCE 03 FINANCIAL PERFORMANCE 04 UPDATES © 2020 Petroliam Nasional Berhad (PETRONAS) | 4
Slide 5: Highlights
HIGHLIGHTS
Slide 6: Q1 2020 Highlights
Q1 2020 HIGHLIGHTS Excellent Plant Performance Operations High plant reliability sustained Achieved performance incentives IBR Implementation Commercial TPA Gas Transportation and Regasification businesses RP1 tariffs effective 1 January 2020 until 31 December 2022 Bunkering & LNG Truck Loading New
Slide 7: Q1 2020 Highlights
Q1 2020 HIGHLIGHTS Q1 2020 Q4 2019 Q1 2019 Revenue RM1.40 billion 2% 2% Gross Q1 2020 Q4 2019 Q1 2019 Profit RM610 million 6% 2% Profit Q1 2020 Q4 2019 Q1 2019 After Tax RM348 million 29% 34% © 2020 Petroliam Nasional Berhad (PETRONAS) | 7
Slide 8: Operational Performance
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Slide 9: Gas Processing
GAS PROCESSING Strong OEE, demonstrating commitment in ensuring system reliability and sustenance of performance incentives OEE (%) C1 C2 World Class Reliability 99.7 100 100 99.7 99.7 YTD 98.7 Salesgas 100% Q1 Q4 Q1 Q1 Q4 Q1 2019 2019 2020 2019 2019 2020 Performance Incentives RM20.5 mil OEE : Over
Slide 10: Gas Transportation & Regasification
GAS TRANSPORTATION & REGASIFICATION GT sustained commitment in ensuring security of gas supply to the nation, Regasification maintained strong performance Transportation Regasification Reliability (%) OEE (%) Average Salesgas RGTSU RGTP Delivery YTD 100 100 100 100 100 100 100 100 100 Salesgas 2,110
Slide 11: Utilities
UTILITIES Sustained sales volume across all products on the back of customer demand Electricity Steam Industrial Gases GWh kMt Product Delivery Mil Nm3 Reliability YTD 1,032 991 969 493 474 Electricity 100% 403 155 159 153 Steam 100% Industrial 100% Q4 Q1 Electricity Q1 Q4 Q1 Steam Q1 Q1 Q4 Q1 gases
Slide 12: Financial Performance
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Slide 13: Financial: Gas Processing
FINANCIAL: GAS PROCESSING Higher revenue and gross profit on the back of higher plant efficiencies QoQ YTD 2020 2% RM Mil UT 0.4% 424 429 431 Group Revenue Revenue GP Regas RM1,396 mil 31% GT Q1 Q4 Q1 2019 2019 2020 RM Mil 14% Regas UT 8% Group Gross 223 206 Gross Profit 196 GP Profit RM610 mil 37%
Slide 14: Financial: Gas Transportation
FINANCIAL: GAS TRANSPORTATION Higher RP1 tariff mitigated lower revenue from transfer of Sarawak operations and assets QoQ YTD 2020 RM Mil 1% GP 6% 290 293 Group Revenue 277 GT Revenue RM1,396 mil 21% UT Regas Q1 Q4 Q1 2019 2019 2020 RM Mil 6% GP 3% Group Gross 200 183 189 Gross Profit UT GT Profit
Slide 15: Financial: Regasification
FINANCIAL: REGASIFICATION Higher revenue and gross profit in line with IBR tariffs QoQ YTD 2020 14% RM Mil GT 10% 345 302 314 Group Revenue GP Revenue Regas RM1,396 mil 25% UT Q1 Q4 Q1 2019 2019 2020 GT RM Mil 4% 18% Group Gross 158 165 Gross Profit 140 Regas Profit RM610 mil 27% GP UT Q1 Q4 Q1 2019
Slide 16: Financial: Utilities
FINANCIAL: UTILITIES Lower revenue and gross profit mainly due to lower electricity demand QoQ YTD 2020 7% RM Mil Regas 7% 352 353 328 Group UT Revenue Revenue 25% GT RM1,396 mil GP Q1 Q4 Q1 2019 2019 2020 Regas RM Mil 28% 25% GT Group Gross Gross Profit UT RM610 mil 5% Profit 46 44 33 GP Q1 Q4 Q1 2
Slide 17: Financial: Group
FINANCIAL: GROUP Higher contribution to gross profit from Gas Processing and Regasification, lower PAT on currency translation Revenue Gross Profit Profit After Tax RM Mil RM Mil RM Mil 2% 2% 2% 34% 6% 1,368 1,372 1,396 29% 599 574 610 531 493 348 Q1 Q4 Q1 Q1 Q4 Q1 Q1 Q4 Q1 2019 2019 2020 2019 2019
Slide 18: Total Assets
TOTAL ASSETS Robust asset base supported by healthy cash balance as well as property, plant and equipment Total Assets Segmental Assets (RM Mil) (RM Mil) 19,584 19,394 2,315 Other Assets 2,237 GT 2,758 Cash & Cash 19% 4,022 3,962 Equivalents GP 4,294 Regas 29% 6,414 Property, Plant 43% 13,247 & Equi
Slide 19: Dividends
DIVIDENDS Maximising shareholders return through sustained dividend payments Dividend Payout Ratio 84% 72% Dividend per share (sen) 82 16 10 Special 22 Q4 Quarterly Dividend Payment 18 Q3 16 Q2 16 Q1 16 31-Dec-19 31-Mar-20 © 2020 Petroliam Nasional Berhad (PETRONAS) | 19
Slide 20: Updates
UPDATES
Slide 21: Maintaining stable operations during challenging times
Maintaining stable operations during challenging times Our Focus in 2020 01 Stable operations and earnings from Operational favourable GPA charges Excellence 02 Stable operations and earnings from regulated businesses Commercial Excellence 03 Stable operations of utilities and preservation of custom
Slide 22: Q&A
Q&A
Slide 23: Contact Us
Contact Us Izan Hajar Ishak +6 03 2331 9366 www.petronasgas.com (Head, Investor Relations) @ ir.petronasgas@petronas.com