Electricity Generating Public Co., Ltd. · SET:EGCO

Electricity Generating Public — Non-Deal Roadshow (August 2012)

34 slides from Electricity Generating Public's roadshow presentation, Aug 29, 2012

  1. Slide 1: Corporate Presentation

    Corporate Presentation 29 August 2012 1

  2. Slide 2: Disclaimer

    Disclaimer This presentation was made from the analysis of reliable information in order to assist investment community to better understand the company's financial status and operation. It also supports the "Good Corporate Governance Project" of the Securities and Exchange Commission (SEC). However

  3. Slide 3: Agenda

    Agenda Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances • Thailand Electricity’s Overview • EGCO Group’s Overview • Financial Performances 3

  4. Slide 4: Current Electricity Supply Industry

    Current Electricity Supply Industry Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances IPP IMPORT SPP EGAT Regulators EGAT Transmission 2 Direct MEA PEA Customers End Users EGAT: Electricity Generating Authority of Thailand IMPOPRT: Purchasing from Laos & Malaysia IPP: Inde

  5. Slide 5: Thailand's Power Generation

    Thailand’s Power Generation Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances As of 30 June 2012, Thailand’s Power Installed Capacity was 31,451 MW. 7% 7% EGAT 15,010 MW IPP 12,082 MW 48% SPP 2,174 MW 38% IMPORT 2,185 MW 31,451 MW 5

  6. Slide 6: Peak Demand Comparison

    Peak Demand Comparison Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances 26,121.10 MW 28,000 (26 April 2012) + 9.3% 23,900.21 MW (24 May 2011) 23,000 18,000 January Februaary March April May June July August September October November December 2008 2009 2010 2011 2012 6

  7. Slide 7: Thailand's Power Generation (PDP 2010 Revision 3)

    Thailand’s Power Generation (PDP 2010 Revision 3) Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances 30 June 2012 PDP 2010 R. 3 2030* (31,451 MW) (55,130 MW) (70,686 MW) 7% 12% 12% 7% 48% 41% 42% 27% 24% 38% 19% 21% 7 * Including total retired plants of 15,894 MW

  8. Slide 8: New IPPs for the 3rd Round of IPP Bidding

    New IPPs for the 3rd Round of IPP Bidding Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances Six IPPs are expected to come into the system in 2021-2026. Total bidding capacity is set to be 5,400 MW (900 MW for each plant). Fuel type will solely be natural gas. Project MW SC

  9. Slide 9: Agenda

    Agenda Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances • Thailand Electricity’s Overview • EGCO Group’s Overview • Financial Performances 9

  10. Slide 10: EGCO's Shareholders

    EGCO’s Shareholders As of March 16, 2012 NDF* 50.11% EGAT 25.41% TEPCO 50% NVDR TEPDIA 10.43% Others 23.94% 49.89% Mitsu- bishi 50% Foreign Thai Investors Investors 20.87% 19.35% * Nuclear Damage Liability Facilitation Fund 10

  11. Slide 11: EGCO's Board of Directors

    EGCO’s Board of Directors Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances BOD EGAT TEPDIA Independent President Directors 4 seats 4 seats 6 seats 1 seat 11

  12. Slide 12: EGCO Group's Business Lines

    EGCO Group’s Business Lines Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances EGCO Group’s business lines can be categorized into 3 business groups: Power Business To develop and acquire power plants with multiple fuel types. Service Business To provide operation, maintena

  13. Slide 13: 2Q12 Highlights

    2Q12 Highlights Quezon New Khanom Accomplishment On 11 June 2012, On 19 June 2012, the EGCO completed the Cabinet approved EGCO acquisition of to build a new 900 MW additional 45.875% combined cycle power indirect ownership plant at the existing interest in Quezon, KEGCO site location. bringing EGCO

  14. Slide 14: Post 2Q12 Highlight

    Post 2Q12 Highlight 16 August Acquired 40% stake in Manambang Muara Enim Coal Mine (MME) Type: Open-pit coal mine Reserve: 140 Million Tons Coal Type: Sub-bituminous (5,800 kCal/kg) Location: Muara Enim Regency , South Sumatra Republic of Indonesia COD: March 2010 MME Concession Time: 28 years start

  15. Slide 15: EGCO Group's Power Plants Portfolio

    EGCO Group’s Power Plants Portfolio As of 30 June 2012, EGCO Group’s portfolio comprised 20 operating power plants and 9 in development, bringing EGCO’s total portfolio to 6,191 MW. Operating Plants Under Development Plants Power Equity Power Equity Power Equity Plant MW Plant MW Plant MW Rayong 1,2

  16. Slide 16: EGCO Group's Capacity Growth 2012-2020

    EGCO Group’s Capacity Growth 2012-2020 MW 2,500 SK Cogen 125 MW XPCL NED Ex. 3 MW 161 MW 2,000 GPS 4 MW TP Cogen TWF 12 MW 125 MW YEH 28 MW 1,500 TJ Cogen 125 MW 161 125 125 1,000 125 Khanom 1,483 900 MW 500 900 - 47 16

  17. Slide 17: EGCO Group's Opportunities Outlook

    EGCO Group’s Opportunities Outlook SPP Renewable Strategic IPP Energy Develop Project Bidding -ment Development Acquisition Domestic & Acquisition Prospects Cross Border Projects IPP and Captive for Imported Power Power Projects International Quezon Projects in key ASEAN Prospects Expansion countrie

  18. Slide 18: Agenda

    Agenda Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances • Thailand Electricity’s Overview • EGCO Group’s Overview • Financial Performances 18

  19. Slide 19: 2Q11 VS 2Q12

    2Q11 VS 2Q12 Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances Net Profit Net Profit before FX Baht Million Baht Million 7,000 7,000 6,273 6,296 6,000 6,000 5,000 5,000 4,000 4,310 4,000 4,310 +214 or 3,000 3,000 12.24 % +222 or 1,749 1,963 1,764 12.59% 1,986 2,000 2,000 6

  20. Slide 20: Total Assets/ Total Liabilities/ Equity

    Total Assets/ Total Liabilities/ Equity Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances + 31,447 104,103 or 43% 72,956 37,152 14,423 104,103 72,956 66,951 58,533 2011 2Q12 Total Assets Total Liabilities Equity 20

  21. Slide 21: EGCO & Subsidiaries' Outstanding Loan

    EGCO & Subsidiaries’ Outstanding Loan Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances Total Outstanding Total Outstanding As of 31 Mar 2012 As of 30 Jun 2012 USD 109 M USD 673 M JPY 419 M JPY 419 M Baht 9,897 M Baht 11,596 M Total Outstanding (Baht Equivalent) Baht 13,42

  22. Slide 22: Debt/Equity

    Debt/Equity Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances Times (X) 0.70 Unit: Baht Million As of 30 June 2012 0.60 0.56 0.50 Total Liabilities Equity 0.40 0.37 37,152 66,951 0.30 0.26 0.25 0.25 0.25 0.25 0.22 0.21 0.21 0.27 0.20 0.10 0.00 1Q10 2Q10 3Q10 2010 1Q11 2Q11

  23. Slide 23: Historical Dividend Payment

    Historical Dividend Payment Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances Baht/ Share 6.00 5.25 5.25 5.25 5.00 5.00 4.75 4.00 4.00 2.75 2.75 2.75 3.25 2.50 2.50 3.00 3.00 2.75 2.00 2.75 2.25 2.50 1.50 1.75 2.00 1.25 1.50 1.25 2.50 2.50 2.50 2.50 2.75 1.00 2.00 2.25 1.2

  24. Slide 24: Thank You

    EGCO THANK YOU

  25. Slide 25: Appendix

    7% P EGC Energy for life Appendix 25

  26. Slide 26: New additional capacity (PDP 2010 Revision 3)

    New additional capacity (PDP 2010 Revision 3) Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances SPP VSPP Purchase From EGAT IPP / Private Players Cogeneration Cogeneration Renewable Neighboring Countries Year Project MW Project MW Project MW Project MW Project MW Project M

  27. Slide 27: New additional capacity (PDP 2010 Revision 3)

    New additional capacity (PDP 2010 Revision 3) Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances SPP VSPP Purchase From EGAT IPP / Private Players Renewable Year Cogeneration Cogeneration Neighboring Countries Project MW Project MW Project MW Project MW Project MW Project M

  28. Slide 28: Reserve Margins: (PDP 2010 Revision 3)

    Reserve Margins: (PDP 2010 Revision 3) Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances Average Reserve Margins during 2012-2030 are expected to be 16-17%. MW Reserve Margins 8,000 24.1% 25.0% 21.3% 7,000 19.5% 18.7% 18.1% 17.9% 20.0% 6,000 18.3% 17.6% 16.9% 16.1% 16.4%16

  29. Slide 29: Thailand's Power Generation classified by fuel type

    Thailand’s Power Generation classified by fuel type Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances Natural Gas is the primary source of fuel for Thailand’s Power Generation. 3% 12% NATURAL GAS 21,308 MW HYDRO 5,321 MW 17% 68% COAL 3,896 MW OTHERS* 926 MW 31,451 MW * * O

  30. Slide 30: EGCO Group's Power Plants Portfolio (1994-2020)

    EGCO Group’s Power Plants Portfolio (1994-2020) Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances 5,000 NTPC Khanom 2020: 4,126 MW 1994: 1,232 MW 4,500 Quezon 4,000 KK2 3,500 BLCP 3,000 2,500 KEGCO 2,000 1,500 Rayong 1,000 500 - 1994 1995 1996 1997 1998 1999 2000 2001 2002

  31. Slide 31: EGCO Group's Power Plants classified by Fuel Type

    EGCO Group’s Power Plants classified by Fuel Type GEC-GYG, Roi-Et Green Renewable NED, SPP2 2% SPP3, SPP4, GPS (#1-4), SPP5, TWF, YEH Coal Natural Gas 20% BLCP, Quezon 69% Rayong, KEGCO, GEC-GPG (KK2) Hydro EGCO Cogen, 8% GEC-GCC, GEC-NKCC NTPC (NT2), XPCL GEC-SCC, Khanom, TJ Cogen, TP Cogen, Diesel

  32. Slide 32: Historical Net Profit before FX & Net Profit

    Unit : Million Baht Historical Net Profit before FX & Net Profit Thailand Electricity’s Overview EGCO Group’s Overview Financial Performances Net Profit before FX & Net Profit 9,000 Baht Million 7,936 8,000 7,491 7,505 6,927 6,803 7,000 6,264 6,000 5,301 4,990 5,000 4,000 3,000 1,963 1,986 2,000 1,6

  33. Slide 33: EGCO's Financial Performances

    EGCO’s Financial Performances Total Assets/ Total Liabilities & Equity 90,000 Unit : Million Baht 80,000 70,000 60,000 50,000 60,319 58,533 40,000 55,328 51,094 72,956 76,255 45,542 41,996 67,040 30,000 62,920 58,330 53,600 20,000 10,000 12,788 14,423 15,936 11,604 11,826 11,712 - 2007 2008 2009 201

  34. Slide 34: Company Cash Flow Summary

    Company Cash Flow Summary 6M12 Beginning Balance of Cash and Cash Equivalents 5,674 Net Cash Received from (Payments in) Operating Activities Profit before corporate income tax 1,766 Depreciation 523 Dividend received from subsidiaries and JVs (1,827) Others (197) 266 Net Cash Received from (Payment

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