Pilatus Marine Public Company Limited · SET:PLT
Pilatus Marine Public — Q2 2024 Earnings Presentation
41 slides from Pilatus Marine Public's earnings presentation, Aug 21, 2024
Slide 1: Opportunity Day Presentation Q2/2024
OPPORTUNITY DAY PRESENTATION Pilatus Marine Public Company Limited Q2/2024 21 August 2024 11:15 am – 12:00 pm (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 Timeline
COMPANY OVERVIEW 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 maritim
Slide 6: Independent/Audit Directors and Executive Directors
COMPANY OVERVIEW Independent/Audit Directors and Executive Directors Chaiwat Damrongmongkolgul Surapong Rongsirikul Chaiwat Sakouwjit Adm.Pichet Tanaset Proud Limpongpan • Chairman • Independent Director • Independent Director • Independent Director • Independent Director • Independent Director • Ch
Slide 7: 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 8: Business Operation
Pl LATOS BUSINESS OPERATION
Slide 9: Business Operation in Overview
BUSINESS OPERATION Business Operation in Overview Fleet 18 vessels Fleet 1 vessel Revenue Contribution 2Q/24 Marine (COA & Spot) Marine (Time Charter) Land Capacity Capacity 73 18,592.54 D.W.T. 3,544.49 D.W.T. Trucks (As of 30 June 2024) (As of 30 June 2024) (As of 30 June 2024) 11% 14% 75% Revenue
Slide 10: 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 10
Slide 11: Transportation Routes (Domestic)
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 12: Transportation Routes (International)
BUSINESS OPERATION Transportation Routes International Japan China South Korea Taiwan India Thailand Vietnam Philippines Malaysia Singapore Indonesia 12
Slide 13: 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 14: 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 Ships Company Number of Ships (Vessels) D.W.T Business Characteristics (Years) 20 26,307 30.23 LPG and Chemicals (Olefins) transportation both domestically and internation
Slide 15: Financial Performance
Pl LATOS FINANCIAL PERFORMANCE
Slide 16: Financial Highlights 6M/24
FINANCIAL PERFORMANCE FINANCIAL HIGHLIGHTS 6M/24 Operating Revenue Revenue Contribution 6M-24 OPERATING REVENUE Marine (COA & Spot) Marine (Time Charter) Land 458.08 million baht Marine (COA & Spot) Marine (Time Charter) Land 10% +18.81% YoY 14% 76% EBITDA 458.08 138.42 million baht 385.56 63.96 24.
Slide 17: Financial Highlights 2Q/24
FINANCIAL PERFORMANCE FINANCIAL HIGHLIGHTS 2Q/24 Operating Revenue Revenue Contribution 2Q-24 OPERATING REVENUE Marine (COA & Spot) Marine (Time Charter) Land 228.27 million baht Marine (COA & Spot) Marine (Time Charter) Land 11% +23.54% YoY 14% 75% EBITDA 229.81 228.27 68.22 million baht 184.77 31.
Slide 18: Revenue & Volume: YoY
FINANCIAL PERFORMANCE Revenue & Volume : 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. Unit: million THB Unit: million tons Marine (COA & Spot) Marine
Slide 19: Revenue & Volume: QoQ
FINANCIAL PERFORMANCE Revenue & Volume : QoQ 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. Unit: million THB Unit: million tons Marine (COA & Spot) Marine
Slide 20: COGS & SG&A YoY & QoQ
FINANCIAL PERFORMANCE COGS & SG&A YoY & QoQ COGS & SG&A Unit: million THB Cost of services SG&A Cost of services SG&A 48.53 60.21 14.68 14.70 14.45 45.6 14.08 16.58 14.86 650.62 664.25 29.15 192.19 188.56 188.81 545.08 30.66 158.43 153.91 159.72 377.38 312.34 2021 2022 2023 6M-23 6M-24 1Q-23 2Q-23 3
Slide 21: Cost Breakdown YoY & QoQ
FINANCIAL PERFORMANCE Cost Breakdown YoY & QoQ(%) COGS % Proportion (YoY) 4% 6% 5% 6% 6% 5% 6% 6% 6% 6% 5% 9% 8% 8% 8% 9% 9% 8% 10% 10% 10% 10% 23% 21% 25% 21% 22% 21% 21% 21% 23% 21% 22% 43% 42% 43% 38% 35% 44% 43% 42% 38% 38% 39% 23% 22% 20% 21% 21% 21% 22% 21% 22% 22% 22% 2021 2022 2023 6M-23 6M-
Slide 22: Gross Profit & Net Profit YoY
FINANCIAL PERFORMANCE Gross Profit & Net Profit YoY Gross Profit & Net Profit (YOY) Gross Profit EBIT Net Profit 143.54 131 120.26 88.58 95.81 72.63 73.22 80.7 55.07 62.21 43.95 44.66 29.17 50.64 31.56 2021 2022 2023 6M-23 6M-24 Gross margin (%) EBIT margin (%) Net profit margin (%) 18.99% 18.07% 18
Slide 23: Gross Profit & Net Profit QoQ
FINANCIAL PERFORMANCE Gross Profit & Net Profit QoQ Gross Profit & Net Profit (QoQ) Gross Profit EBIT Net Profit 42.37 41.24 39.46 30.85 31.26 28.67 27.04 26.68 23.96 20.1 15.98 15.5 16.84 14.72 9.07 12.48 7.15 7.63 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 Gross profit margin (%) EBIT margin (%) Net prof
Slide 24: EBITDA & EBITDA Margin YoY & QoQ
FINANCIAL PERFORMANCE EBITDA & EBITDA Margin YoY & QoQ EBITDA (YoY) EBITDA (QoQ) EBITDA EBITDA 230.35 248.49 219.54 70.2 68.22 62.82 58.71 138.42 50.04 47.97 112.86 2021 2022 2023 6M-23 6M-24 1Q-23 2Q-23 3Q-23 4Q-23 1Q-24 2Q-24 EBITDA Margin EBITDA Margin 34.62% 31.27% 30.22% 29.27% 31.29% 30.55% 29
Slide 25: Financial Position 2021 – 2Q24
FINANCIAL PERFORMANCE Financial Position 2021 – 2Q24 Balance Sheet (2021-2Q24) Total Assets Total Liabilities Total owner's equity D/E 1.08 0.96 0.74 0.68 0.68 820.2 837.04 851.76 603.33 570.04 578.37 394.34 411.55 1423.53 1407.08 1430.13 427.81 396.98 822.15 808.53 2021 2022 2023 1Q-24 2Q-24 25
Slide 26: Financial Ratio 2021-2Q24
FINANCIAL PERFORMANCE Financial Ratio 2021-2Q24 ROA (2021-2Q24) ROE (2021-2Q24) 7.63% 15.44% 13.88% 6.24% 3.94% 7.14% 3.25% 2.87% 5.54% 4.91% 2021 2022 2023 1Q-24 2Q-24 2021 2022 2023 1Q-24 2Q-24 26
Slide 27: Business Outlook
MARINE BUSINESS OUTLOOK
Slide 28: Supported from Industry Trend
BUSINESS OUTLOOK Supported from Industry Trend Growing Demand of An increase in petrochemical and Petrochemical & LPG Market LPG seaborne trade in recent years 28
Slide 29: Supported from Industry Trend
BUSINESS OUTLOOK Supported from Industry Trend Low new build LPG tanker supply and high vessel scrapping during the Increase Freight Rate for SGC & Price COVID pandemic have led to a shortage of LPG tankers in the market. for LPG Tanker in Second Market 29
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 vesseis Pressurize (5,000 CBM) Newbuilds Total Nu
Slide 31: Strategy for Growth
PILATUS MARINE. STRATEGY FOR GROWTH
Slide 32: 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) 27,407.16 31,073.16 36,073.16 41,073.16 32
Slide 33: 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 34: Expansion to International Market
STRATEGY FOR GROWTH Expansion to International Market Contract Terms : Time charter Japan Storage Tank Olefins Product: B-1, C3, Mix C4, Propylene, South Korea (Cargo) : LPG, BD China Taiwan Service Area : North – South Asia India Thailand Philippines Certified by : Approval by SIRE and CDI Vietnam
Slide 35: CAPEX
STRATEGY FOR GROWTH Investment Plan Capital THB 132 – 147 m. CAPEX THB 875 – 975 m. Financing THB 743 – 828 m. 35
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 22 Gas Carrier 1,502.18 1,036.34 1989 Thai 4 PILATUS 33 Gas Carrier 1,307.85 1,162.00 1995 Thai
Slide 38: Fleet List Detail (Vessel)
Appendix Appendix Fleet List Detail (Vessel) No. Vessel Name Type CBM D.W.T Year Built Flag 11 PILATUS 45 Gas Carrier 1,247.14 950 1992 Thai 12 PILATUS 46 Gas Carrier 1,245.44 905 1994 Thai 13 PILATUS 50 Gas Carrier 1,245.82 943 1994 Thai 14 PILATUS 51 Gas Carrier 1,501.24 1,040.48 1990 Thai 15 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 39
Slide 40: 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 41: Pilatus Marine Public Company Limited
Pilatus Marine Public Company Limited Tel. 02-9301801-10 Email: contact@pilatusmarine.co.th
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