Pilatus Marine Public Company Limited · SET:PLT
Pilatus Marine Public — Q1 2025 Earnings Presentation
42 slides from Pilatus Marine Public's earnings presentation, May 27, 2025
Slide 1: Opportunity Day Presentation
OPPORTUNITY DAY PRESENTATION Pilatus Marine Public Company Limited Q1/2025 27 May 2025 10:15 am – 11:00 am (Online)
Slide 2: Agenda
Company Overview Agenda Business Operation Financial Performance Business Outlook Strategy for Growth Q&A 2
Slide 3: Company Overview
MARINE COMPANY OVERVIEW
Slide 4: Vision & Mission
COMPANY OVERVIEW Vision & Mission Mission To be the leading company in Vision Asia-Pacific region, with excellency of To achieve our vision, we strive to improve operations and services of shipment in line our logistics service to our partners with sustainable development approach and with high qual
Slide 5: Company's Structure
COMPANY OVERVIEW Company’s Structure Pilatus Marine Public Company Limited (PLT) Operator of liquefied petroleum gas (LPG) and petrochemical products (Olefins) transport. Registered capital: 480 million baht Paid-up capital: 480 million baht Par value: 0.50 baht per share 99.99% 99.99% World Wide Tr
Slide 6: Q1/2025 Recap
RECAP Q1/2025 Q1/2025 Recap Net Profit Performance excluding non-recurring items (Unit: Million Baht) Key Business Highlights Q1/2025 • Effective cost control and management were Normalized Net Profit achieved through improvements in the gross profit 17.18 +2.04% YoY +25.23% QoQ margin and a downwar
Slide 7: Q1/2025 Business Performance
RECAP Q4/2024 Q1/2025 Business Performance Revenue Trend: 2025 Continuous Revenue Growth (Unit: Million Baht) Q1/2025 Impacting Factors • PLT reported service revenue of THB 794.2 795.3 963.4 255.6 255.62 million (+11.23% YoY, +1.58% QoQ) 100 0.0 100 % 900 .0 90% • Time Charter’s (+92.60% YoY, +23.6
Slide 8: Key Events Updates
Key Events Updates Key Events Update: The AGM approved the dividend payment for the year and capital reduction. 1 2024 Dividend Payment Summary 2 Capital Reduction Total 0.03 baht/share 576 0.035 0.03 FROM 0.02* *The second dividend payment of 0.02 0.025 Million Baht 0.02 baht per share for 2024 and
Slide 9: Q1/2025 Business Outlook
Q1/2025 Business Outlook Ongoing global economic uncertainty and Thailand’s Economic Recovery in Q1/2025 remained uneven. As a company, we continue to operate in a high-risk environment in 2025, yet we see promising opportunities ahead. • Global economic growth in 2025, is expected to slow, with the
Slide 10: 2025 Outlook & Growth Drivers
Outlook 2025 2025 Outlook & Growth Drivers 2025 Revenue Target 15-20% 1. Expansion into Related Business Bulk Gas Station Project with more secure long-term revenue contract 2. Enhancing Marine Operational Margins Increasing both top-line growth & cost efficiencies through strategic business negotia
Slide 11: Business Operation
Pl LATOS BUSINESS OPERATION
Slide 12: Business Operation in Overview 1Q25
BUSINESS OPERATION Business Operation in Overview 1Q25 Revenue Contribution Fleet 17 vessels Fleet 2 vessel Marine (COA & Spot) Marine (Time Charter) Land 73 Trucks Capacity Capacity 18% 17,546 D.W.T. 7,714 D.W.T. (As of 31 Mar 2025) (As of 31 Mar 2025) (As of 31 Mar 2025) 13% 70% 1Q25 10% 14% 1Q24
Slide 13: Company's Value Chain
BUSINESS OPERATION Company’s Value Chain Comprehensive LPG transportation services by both maritime and land routes Auto Gas Refinery Household Filling Plant Industry Storage Tank 14
Slide 14: Transportation Routes
BUSINESS OPERATION Transportation Routes Domestic Marine Land Route : Thailand Thailand - Bangkok Thailand - Bang Pa Kong Thailand – Samut Songkhram Thailand - North Rayong Thailand - North East Thailand – Map Ta Phut Sriracha West Central East Thailand – Surat Thani Thailand – Nakhon Si Thammarat T
Slide 15: Transportation Routes
BUSINESS OPERATION Transportation Routes International Japan China South Korea Taiwan India Thailand Vietnam Philippines Malaysia Singapore Indonesia 16
Slide 16: Company's Strength
BUSINESS OPERATION Company’s Strength An operator of liquefied petroleum gas (LPG) and petrochemical products (Olefins) transport, recognized by global business operators for its efficient transportation management and international safety management Comprehensive Transportation Largest in Terms of
Slide 17: Company's Strength
BUSINESS OPERATION Company’s Strength The company's fleet has the lowest average age of marine fleet in Thailand. Average Age of Company Number of Ships (Vessels) D.W.T Business Characteristics Ships (Years) LPG and Chemicals (Olefins) transportation 19 25,260 29.19 both domestically and internation
Slide 18: Financial Performance
Pl LATOS FINANCIAL PERFORMANCE
Slide 19: Financial Highlights 1Q25
FINANCIAL PERFORMANCE FINANCIAL HIGHLIGHTS 1Q25 (Unit: Million Baht) Revenue Contribution Service Revenue SERVICE REVENUE Marine (COA & Spot) Marine (Time Charter) Land 256 +11.2% Marine (COA & Spot) Marine (Time Charter) Land 252 256 18% MB YoY 230 32 33 13% 32 EBITDA 36 45 1Q25 23 74 +5.6% 70% MB
Slide 20: Revenue & Volume: QoQ & YoY
FINANCIAL PERFORMANCE Revenue & Volume : QoQ & YoY The main contributors to revenue growth are the Time Charter services and Truck transportation, and the company has targeted this growth Shipping and trucking volumes trajectory to continue. Marine (COA & Spot) Marine (Time Chater) Land Marine Trans
Slide 21: Cost Breakdown: QoQ (%)
FINANCIAL PERFORMANCE Cost Breakdown : QoQ (%) COGS % Proportion (QoQ) 2% 2% 2% 3% 1% Others 6% 5% 5% 7% 6% 10% 9% 14% 11% 14% Maintenance 22% 23% 21% 22% 23% Transportation Depreciation & Amortization 38% 38% 36% 35% 34% Fuels 22% 22% 22% 22% 21% Employees 1Q24 2Q24 3Q24 4Q24 1Q25 22
Slide 22: Gross Profit & Net Profit: QoQ & YoY
FINANCIAL PERFORMANCE Gross Profit & Net Profit : QoQ & YoY Gross Profit & Net Profit (YOY) Gross margin (%) EBIT margin (%) Net profit margin (%) 18.2% 18.0% 16.0% Compared Net Profit (Excluding Impairment) 10.2% 9.6% 17 17 11.6% 5.5% 5.0% 14 4 7.3% (Unit: Million Baht) 47 13 41 40 1Q24 4Q24 1Q25 2
Slide 23: EBITDA & EBITDA Margin: QoQ & YoY
FINANCIAL PERFORMANCE EBITDA & EBITDA Margin : QoQ & YoY EBITDA (QoQ & YoY) EBITDA Margin 30.6% 29.7% 29.0% (Unit: Million Baht) 75 74 70 1Q24 4Q24 1Q25 24
Slide 24: Financial Position 2024 – Q1/2025
FINANCIAL PERFORMANCE Financial Position 2024 – Q1/2025 Balance Sheet (2023-2024) ROA Total Assets Total Liabilities Total owner's equity D/E 6.8% 1.00 5.4% 0.92 1Q24 1Q25 873 886 ROE 875 819 1,748 1,705 6.8% 4.9% 2024 1Q25 1Q24 1Q25 25
Slide 25: Business Outlook
MARINE BUSINESS OUTLOOK
Slide 26: Supported from Industry Trend
BUSINESS OUTLOOK Supported from Industry Trend Seaborne LPG Trade (Source: Refinitiv vessel tracking data) 27
Slide 27: Supported from Industry Trend
BUSINESS OUTLOOK Supported from Industry Trend Growing Olefin Market Trend LPG Market Trend 28
Slide 28: Gas is Transition Fuel
BUSINESS OUTLOOK Gas is Transition Fuel Source: Exxon Gobal Outlook 2024 29
Slide 29: Supported from Industry Trend
BUSINESS OUTLOOK Supported from Industry Trend High vessel scrapping during the COVID pandemic have led to a Low new build for small LPG tanker supply shortage of LPG tankers in the market. 30
Slide 30: Total Number of Pressurize Gas Carrier in the World
BUSINESS OUTLOOK Total Number of Pressurize Gas Carrier in the World Total Number of Pressurize Gas Carrier in the World 2024 2025 2026 406 415 415 176 176 176 132 137 138 1 0 0 8 5 1 12 9 0 Pressurize (3,500 CBM) Newbuilds Total Number of Pressurize vessels Pressurize (5,000 CBM) Newbuilds Total Nu
Slide 31: LPG Carrier Time Charter Rate – Last 10 Years
BUSINESS OUTLOOK LPG Carrier Time Charter Rate – Last 10 Years 32
Slide 32: Strategy for Growth
PILATUS MARINE. STRATEGY FOR GROWTH
Slide 33: Increase Fleet Capacity
STRATEGY FOR GROWTH Increase Fleet Capacity 2023 2024 2025 2027 Expand the Fleet by 1 Vessel 1 Vessel 1 Vessel 1 Vessel Fleet Name Pilatus 65 Pilatus 66 - - Approximately Approximately Fleet Capacity (CBM) 3,544 3,666 5,000 5,000 PLT’s Total Capacity (CBM) 38,653 42,319 47,319 52,319 34
Slide 34: Increase Fleet Capacity
STRATEGY FOR GROWTH Increase Fleet Capacity 2023 : 1 Vessel 2024 : 1 Vessel Name : PILATUS 65 Name : PILATUS 66 Build : November 2009 Build : February 2012 Flag : Panama Flag : Panama Cargo Tank : 3,544 CBM. Cargo Tank : 3,666 CBM. Tank. Type : Fully Pressurize Tank. Type : Fully Pressurize Trading.
Slide 35: Expansion to International Market
STRATEGY FOR GROWTH Expansion to International Market Contract Terms : Time charter Japan Storage Tank Olefins Product: B-1, C3, Mix South Korea (Cargo) : C4, Propylene, LPG, BD China Service Area : North – South Asia Taiwan India Thailand Philippines Certified by : Approval by SIRE and CDI Vietnam
Slide 36: Pl LATOS
Pl LATOS
Slide 37: Fleet List Detail (Vessel)
Appendix Appendix Fleet List Detail (Vessel) No. Vessel Name Type CBM D.W.T Year Built Flag 1 PILATUS 14 Gas Carrier 12,467.63 950 1996 Thai 2 PILATUS 18 Gas Carrier 1,454.87 1,104.63 1986 Thai 3 PILATUS 33 Gas Carrier 1,307.85 1,162.00 1995 Thai 4 PILATUS 35 Gas Carrier 1,502.83 988.13 1990 Thai 5
Slide 38: Fleet List Detail (Vessel)
Appendix Appendix Fleet List Detail (Vessel) No. Vessel Name Type CBM D.W.T Year Built Flag 10 PILATUS 45 Gas Carrier 1,247.14 950 1992 Thai 11 PILATUS 46 Gas Carrier 1,245.44 905 1994 Thai 12 PILATUS 50 Gas Carrier 1,245.82 943 1994 Thai 13 PILATUS 51 Gas Carrier 1,501.24 1,040.48 1990 Thai 14 PILA
Slide 39: Fleet List Detail (Truck)
Appendix Appendix Fleet List Detail (Truck) Number of Truck Number of Gas Tank Capacity Type (Plate Registered) (No. of Car) (tons per tank) 6-Wheeled Truck 3 3 4 10-Wheeled Truck 59 59 8-10 Trailer Truck 11 11 15-16 Prime Mover 12 - - Total 85 73 40
Slide 40: Company's Timeline
Appendix Company’s Timeline High-Standard Fleet with average lowest ship ages to Meet Growing Demand in Asia and Worldwide. Pilatus Marine Co., Ltd. Transition the company was incorporated. Restructure the group of companies to eliminate to a Public Company Limited. • Engaging in the maritime The Co
Slide 41: Important Disclaimer
Important Disclaimer The information contained in this document has been compiled from various sources, and Pilatus Marine Public Company Limited (“the Company”) makes no representations or warranties, express or implied, as to the accuracy, completeness, sufficiency, or freedom from defects of such
Slide 42: Pilatus Marine Public Company Limited
Pilatus Marine Public Company Limited Tel. 02-9301801-10 Email: contact@pilatusmarine.co.th
Pilatus Marine Public Company — Q1 2025 Earnings Presentation on 6ix