Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — FY2016 Earnings Presentation
15 slides from Tipco Asphalt Public's earnings presentation, Feb 22, 2017
Slide 1: Tipco Asphalt Public Company Limited (TASCO) 1/2017 Opportunity Day
Tipco Asphalt Public Company Limited (TASCO) 1/2017 Opportunity Day (FY/2016 Operational Results) 22nd February 2017 บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited
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 Q4 2016 financial Performance 2 2016 Highlight 3 2017 Outlook บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 2
Slide 4: Q4 2016 Financial Performance: Sales & Services Revenue vs. Sales Volume
Q4 2016 Financial Performance : Sales & Services Revenue vs. Sales Volume Sales & Services Revenue Unit: Mil. Baht 37,137 • Sales and services stood at Baht 24,038 million, reflecting a decrease of 35% from 24,038 last year. This decrease was mainly attributable to the significant drop in asphalt se
Slide 5: Q4 2016 Financial Performance: Operating Gross Profit
Q4 2016 Financial Performance : Operating Gross Profit • Cost of sales and services in 2016 stood at Operating Gross Profit 7,504 Baht 19,949 million or 82.99% (82.51% in Unit: Mil. THB 2015) of sales and services before the allowance for diminution in value of inventory that had been adequately hed
Slide 6: Q4 2016 Financial Performance: EBITDA & Net Profit
Q4 2016 Financial Performance : EBITDA & Net Profit EBITDA Unit: Mil. THB • The Group’s cash flow generated from 6,375 operations stood at Baht 4,728 million (USD 134 million1/) compared to the 4,728 exceptional Baht 6,375 million in 2015 and the Group cash position is further strengthened 1,796 1,2
Slide 7: Q4 2016 Financial Performance: Debt to Equity Ratio
Q4 2016 Financial Performance : Debt to Equity Ratio Debt/Equity Ratio Total debt/Total equity LT debt/Total equity 0.60 0.56 0.59 0.24 0.13 0.10 Q4 2015 Q3 2016 Q4 2016 • The Group’s consolidated debt to equity ratio (D/E ratio) improved slightly to 0.59 from 0.60 after prepayment of long-term loan
Slide 8: Q4 2016 Financial Performance: Key Ratios and Historical Dividend
Q4 2016 Financial Performance : Key Ratios and Historical Dividend Return on Equity Return on Asset2/ Unit: % Unit: % 62.41/ 40.81/ 27.7 21.4 21.4 17.2 8.8 6.0 2013 2014 2015 2016 2013 2014 2015 2016 1/ Exceptional year 2/ Return is based on profit before interest and tax Historical Dividend Unit: B
Slide 9: 2016 Highlights
2016 Highlights Crude • Daily Brent price increased from USD 36.50 per barrel from January to USD 56.56 per barrel at the end of December. Our hedging strategy mitigates the risk of sudden increase in the crude price. Refinery • High reliability at 99.8%. The feasibility study of plant double capaci
Slide 10: 2016 Highlights: Domestic and International Market
2016 Highlights: Domestic and International Market Domestic Market • Asphalt product volume rose by 9% as compared to 2015. Major factor was 2017 fiscal budget was expedited during Q4 2016 • Domestic market performance was very well mainly because of AE and PMA International Market • Asphalt product
Slide 11: 2016 Highlights: Asphalt Selling Price vs Ice Brent
2016 Highlights: Asphalt Selling Price vs Ice Brent Unit: USD/barrel 120.0 107.9 109.7 Avg. asphalt selling price Avg. Ice Brent 103.4 100.0 89.5 99.7 94.2 80.1 90.9 80.0 70.1 77.1 60.0 57.3 60.0 55.5 63.5 46.9 51.1 45.8 47.1 55.2 49.3 40.0 51.2 44.7 38.0 37.4 38.5 34.7 20.0 0.0 Q1 Q2 Q3 Q4 Q1 Q2 Q3
Slide 12: 2016 Highlights: Asphalt Volume & Asphalt Revenue Structure
2016 Highlights : Asphalt Volume & Asphalt Revenue Structure Asphalt sales volume concentration by market Unit: % Main International Markets Domestic International 1.25 1.99 2.29 2.07 China Mil tons Mil tons Mil tons Mil tons 74% 84% 78% 74% Indonesia 26% 16% 22% 26% 2013 2014 2015 2016 Asphalt Reve
Slide 13: 2017 outlook – Refinery and marine
2017 outlook – Refinery and marine Crude • Crude price is expected to fluctuate in the range due to OPEC limit supply • Long-term crude supply agreement until 2020 Refinery • High refining capacity utilization, the Group continued to enjoy high efficiency in fuel consumption and production cost • Ma
Slide 14: 2017 outlook – Domestic and International Market
2017 outlook – Domestic and International Market Domestic Market • Continue to enjoy exceptional high sales volume as in 2016 International Market • The international asphalt price has recovered to above 300 USD per ton (49 USD per barrel) • Outlook of International market is positive บริ ษทั ทิปโก้
Slide 15: Q&A
Q&A บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 14
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