Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q3 2018 Earnings Presentation
38 slides from Siamgas & Petrochemicals Public's earnings presentation, December 2018
Slide 1: Q3|2018 Performance Results
SliAtiscas Q3|2018 PERFORMANCE RESULTS GROUP PRESENTATION FOR INVESTOR & ANALYST
Slide 2: Disclaimer
The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Siamgas and Petrochemicals Public Company Limited (“SGP” and shares in SGP, “shar
Slide 3: Agenda
AGENDA () SIAMGAS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK * Q&A
Slide 4: Shareholder structure
61.3% MANAGEMENT Fund Thai NVDR 14.3% 6.5% Retail 17.9% 38.7% PUBLIC Latest book closing : On 31 AUG 2018 4
Slide 5: Company history and milestones
Business acquisition Invest in Vietnam | Supergas Business acquisition 10 MW. Power Plant Founded Founded Singapore | Singgas Vietnam | Citygas N. and transmission line the company Marine & land logistic China | Sinosiam Malaysia | Mygaz in Myanmar 1 2 2 2 2 9 0 0 0 0 7 0 1 1 1 6 5 0 3 8 2 2 2 2 0 0
Slide 6: Business operation
BUSINESS OPERATION THAILAND OVERSEA 1. LIQUEFIED PETROLEUM GAS (LPG) 1. LIQUEFIED PETROLEUM GAS (LPG) 2. ROAD TRANSPORTATION - SINGAPORE 3. MARINE TRANSPORTATION - CHINA 4. CYLINDER MANUFACTURING - MALAYSIA 5 OIL RETAIL BUSINESS - VIETNAM 6. CONTAINER TERMINAL SERVICE BUSINESS 2. COMBINE CYCLE POWER
Slide 7: Thailand and overseas expansion plans
Thailand The Company is expanding petrol with LPG station. Set up Siamgas LNG and plan to build LNG terminal. Overseas The Company is constructing terminal and filling plants in Myanmar. The Company is constructing filling plant in Penang Malaysia. The Company is reconditioning terminal in North por
Slide 8: LPG and other business locations
LPG business OTHER business SHANTOU, SOUTH CHINA | SOGEL HAIPHONG | CITYGAS NORTH ZHUHAI, SOUTH CHINA | SINOSIAMGAS MYANMAR, MAWLAMYING | MLIPP POWERPLANT 230 MW. MYANMAR, ANIN | SMD POWERPLANT & TRANSMISSION LINE 10 MW. HO CHI MINH | SUPERGAS THAILAND | SIAMGAS & UNIQUEGAS EAST MALAYSIA | MYGAZ MAL
Slide 9: Agenda
AGENDA () SIAMGRS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK ~ Q&A
Slide 10: LPG supply and distribution chain
SGP COMMERCIAL FILLING USERS PLANTS GAS SEPARATION COOKING LPG REFINERIES RETAILERS PLANTS AGENT & FILLING HOUSEHOLD USERS PLANTS SGP INDUST. TERMINALS INDUSTRIAL & USERS DEPOTS LPG IMPORT SGP AUTO-LPG AUTOMOTIVE SGP STATIONS MOTORISTS AGENT AUTO-LPG STATIONS 10
Slide 11: Terminals, filling plants and autogas stations
25 8 500 vessels terminals roadtankers 5.Lampang 6.Khonkaen 4.Nakornsawan 1.Bangkok Floating Storage 2.Samutprakan 3.Chachoengsao 7.Suratthani FILLING PLANT & AUTOGAS STATION 8.Songkhla Company Filling Plants x 43 Agent Filling Plants x 144 Company Autogas Stations x 44 Agent Autogas Stations x 521
Slide 12: LPG sales volume all sectors
LPG Sales Volume (‘000 tons) | ALL SECTORS 4,409 YoY: Total -3.1% | SGP -1.6% 4,177 4,108 -5.3% -1.6% QoQ: Total +2.0% | SGP +2.0% 3,009 3,370 3,171 3,107 2,270 -3.3% -0.4% 1,036 984 1,004 1,039 1,005 1,001 787 744 759 739 249 241 245 2015 2016 2017 9M|2018 3Q'17 2Q'18 3Q'18 SGP Group Others Total -
Slide 13: LPG sales volume cooking sector
LPG Sales Volume (‘000 tons) | COOKING SECTORS COOKING PORTION 2,094 2,110 2,151 +1.9% YoY: Total -0.03% | SGP -2.6% +0.8% 1,619 1,484 1,491 1,534 QoQ: Total +3.4% | SGP +2.4% 1,173 60% +1.4% 545 527 545 -0.4% 610 619 616 393 382 397 445 152 144 148 2015 2016 2017 9M|2018 3Q'17 2Q'18 3Q'18 SGP Group
Slide 14: LPG sales volume automotive sector
LPG Sales Volume (‘000 tons) | AUTOMOTIVE SECTORS 1,731 AUTOMOTIVE PORTION 1,466 1,319 YoY: Total -11.7% | SGP -0.4% -15.3% -10.0% 1,439 885 QoQ: Total -2.0% | SGP -0.5% 1,221 1,089 23% 713 326 294 288 -16.3% -5.9% 292 269 237 231 245 230 173 57 57 57 2015 2016 2017 9M|2018 3Q'17 2Q'18 3Q'18 SGP Gro
Slide 15: LPG sales volume industry sector
LPG Sales Volume (‘000 tons) | INDUSTRY SECTORS 638 INDUSTRY PORTION 584 600 +6.3% YoY: Total +3.9% | SGP +0.7% +2.8% 505 QoQ: Total +4.7% | SGP +3.9% 17% 483 448 459 384 +9.3% 165 164 171 +3.7% 124 124 130 137 142 155 121 41 39 41 2015 2016 2017 9M|2018 3Q'17 2Q'18 3Q'18 SGP Group Others Total Indu
Slide 16: LPG sales volume by sectors
LPG Sales Volume (‘000 tons) | By SECTORS Cooking Automobile Industrial |----------- 1,039 ------------| |----------- 1,005 ------------| |----------- 1,001 ------------| |------------- 739 ------------| 265 260 260 254 256 253 256 254 249 251 253 241 247 241 245 35 35 34 34 35 37 37 39 39 41 33 36
Slide 17: Agenda
AGENDA () SIAMGRS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK ~ Q&A
Slide 18: Regional LPG terminals
W ) SIAMNGAS co REGIONAL LPG WH e Siam Ocean Gas & Energy Ltd. ———— sews 100,000 Tons LPG Terminal SHANTOU tp) Sino Siam Gas & Petrochemicals Co,Ltd. 200,000 Tons LPG Terminal ZHUHAI — “ee ecceseet® —_ a J) \e) ts y FLOATING LPG TERMINAL — Semen : J oN = 45,000 DWT VLGC =— ay / == Siamgas and Petroc
Slide 19: Huge storage in China
HUGE STORAGE IN CHINA enour jamgas and Petrochemical Public Company Limited
Slide 20: Storage caverns
Total : 300,000 Tons Zhuhai : 200,000 Tons Shantou : 100,000 Tons Storage Caverns 20
Slide 21: LPG price changes
8 9 5 8 4 2006 4 2007 3 2008 7 2009 -46.5 +385.0 -535.0 +387.5 6 7 7 6 6 2010 6 2011 5 2012 5 2013 +200.0 -130.0 +185.0 +182.5 2 6 6 6 4 2 2014 10 2015 6 2016 6 2017 -602.5 -92.5 -67.5 +180.0 21
Slide 22: Propane, butane and Brent oil prices
USD/TON Propane [C3] Butane [C4] 700 635 600 600 595 580 580 570 570 600 560 570 495 490 500 505 505 600 460 575 575 590 590 465 470 560 555 580 500 510 525 390 390 500 480 365 480 480 475 400 2017 2018 435 430 420 385 385 300 345 Q1 +140.0 -107.5 200 Q2 -152.5 +87.5 Q3 +102.5 +57.5 100 6 4 2 +180.0
Slide 23: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 23
Slide 24: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 24
Slide 25: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 25
Slide 26: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 26
Slide 27: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 27
Slide 28: Quarterly and annual sale volume
ANNUALLY | SALE VOLUME (TONS) QUARTERLY | SALE VOLUME (TONS) 28
Slide 29: Agenda
AGENDA () SIAMGRS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK ~ Q&A
Slide 30: Revenue by Thailand, offshore and overseas business
Thailand 18.4% Offshore Oversea business 31.8% 48.4% Logistic 9M|2017 Other (Service & Other) Thailand 37.6% Oversea 62.4% 1.0% 0.4% 20.2% 9M|2018 36.0% Thailand 31.4% 42.2% Oversea 68.6% 0.8% 0.7% 30
Slide 31: 9M|2018 consolidated revenue of Bt.51,176 m
9M|2018 Consolidated revenue of Bt.51,176 m shows a 21.5% yoy growth yoy +36.0% yoy yoy +23.3% +21.5% qoq +18.9% 65,746 1,438 62,157 59,627 980 58,334 51,176 883 752 594 48,371 19,246 42,112 678 17,517 111 Other 658 16,186 228 15,744 14,153 265 218 177 40,822 36,903 34,661 27,902 38,403 26,288 35,13
Slide 32: 9M|2018 consolidated EBITDA of Bt.3,093 m
9M|2018 Consolidated EBITDA of Bt.3,093 m a decline of 11.7% yoy 6,000 EBITDA EBITDA MARGIN 14% EBITDA EBITDA MARGIN EBITDA EBITDA MARGIN 5,193 12% 4,000 11% 5,000 1,800 14% 3,503 1,690 3,500 10% 9% 1,600 3,093 12% 4,000 8.32% 3,000 1,400 1,321 8.71% 1,282 8% 1,223 10% 7% 9.65% 2,500 1,200 9.33% 2,8
Slide 33: Gross profit and net profit margins
YEARLY 9 MONTH QUARTERLY 6,000 15% 1,800 15% 3,500 9% 1,706 4,947 3,241 5,000 1,600 12% 8% 3,000 7.76% 2,751 1 12% 7% 1,400 1,307 4,000 2,500 1,227 9% 6% 1,200 9.82% 8.36% 2 1,055 3,037 5.42% 9% 2,891 2,811 2,000 1,922 1,000 9.29% 3,000 5% 889 4.54% 845 766 1,605 3 738 6.00% 6% 4% 800 1,500 5.97% 6.
Slide 34: Assets, liabilities, equity and debt
ASSET (THB Million) LIABILITIES & EQUITY (THB Million) Cash & Equivalents Inventory Short term loan Current liabilities Other asset PP&E Long term Debt Non current liabilities Interest Bearing Debt (Times) Total Equity 38,045 38,045 1.34 1.20 1.14 2,562 0.99 1.06 0.97 1.03 1.08 1.05 31,458 31,458 0.
Slide 35: Agenda
AGENDA () SIAMGRS * BUSINESS OVERVIEW * THAILAND BUSINESS * OVERSEA BUSINESS * FINANCIAL RESULTS * BUSINESS OUTLOOK ~ Q&A
Slide 36: LPG sales volume outlook 2018
LPG Sales Volume (Tons) % Sales volume (TONs) 2016 2017 Outlook 2018 9M|2018 Success Malaysia & Singapore SGP - Thailand 1,016,965.56 1,030,660.58 1,100,000.00 755,713.62 68.7% Vietnam SGP Offshore Trading 543,451.66 736,544.45 820,000.00 730,504.22 89.1% China China 1,200,167.37 1,219,476.64 1,350,
Slide 37: Dividend policy and historical dividend payment
Dividend Policy Historical dividend payment The Company has established the policy to pay dividends to the 2018 0.25 shareholders at the rate of not less 2017 0.50 1.00 than 40% of the net profit after 2016 0.15 0.35 corporate income tax, accumulated loss brought forward (if any) and 2015 0.20 0.30
Slide 38: Questions are welcomed!
QUESTIONS ARE WELCOMED !
Siamgas and Petrochemicals Public Company — Q3 2018 Earnings Presentation on 6ix