Bangchak Corporation Public Company Ltd · SET:BCP
Bangchak Corporation Public — Q2 2021 Earnings Presentation
29 slides from Bangchak Corporation Public's earnings presentation, Aug 17, 2021
Slide 1: Analyst Meeting Q2/2021
ANALYST MEETING Q2/2021 August 17, 2021
Slide 2: From Last Quarter until Now: Awards & Recognitions
From Last Quarter until Now … EXCELLENT CG We have been entitled with SCORING at 98% Awards & Recognitions ASIA RESPONSIBLE ENTERPRISE AWARDS 2021 Investment in People Category BEST SUSTAINABLE INNOVATION STRATEGY (Thailand) 2
Slide 3: From Last Quarter until Now: Social Responsibilities and Initiations
From Last Quarter until Now … We have been doing We have worked on Initiations Social Responsibilities The First for Thailand to promote carbon credit trading to reduce greenhouse gases Helping with Kingkaew fire NT & Bangchak partnership to enhance 5G business capability 3
Slide 4: Consolidated Performance Q2/2021
Consolidated Performance Q2/2021 Global oil price continued to improve, but at a lower pace followed with national outbreaks and lockdowns led to slightly dropped in overall performance Accounting EBITDA (MB) Net Profit1/ (MB) 9,006 EPS (1.50) 1.59 1.21 (5.02) 2.80 (THB/Share) 5,455 4,737 4,048 4,26
Slide 5: Table of Content
TABLE OF CONTENT 01 Q2/2021 Business Performance 02 Financial Performance 03 Business Update and Going Forward 5
Slide 6: Q2/2021 EBITDA by Business Group
Q2/2021 EBITDA by Business Group 1/ Operating Net Profit 1,765 MB EBITDA 4,269 MB 2/ 3,059 MB EBITDA Accounting EBITDA Operating EBITDA (Unit: MB) 2,411 1,976 887 970 827 979 997 676 698 372 422 296 31 276 Q1/21 Q2/21 Q1/21 Q2/21 Q1/21 Q2/21 Q1/21 Q2/21 Q1/21 Q2/21 Refinery & Trading Marketing Power
Slide 7: Refinery and Trading Business: GRM Performance
Refinery and Trading Business: Q2/2021 EBITDA 1,976 MB GRM Performance ($/BBL) Crude run Operating GRM Hedging Inventory Gain/Loss Product Yield 10.00 140.0 89% 12.26 130.0 74% 90% 2% 2% 2% 5.00 0.001 3.81 LPG 120.0 Production Profile 70% 3.93 3.24 4.18 110.0 54% 19% 20% 20% Gasoline 0.00 100.0 107.
Slide 8: Marketing Business: Q2/2021 EBITDA 827 MB
Marketing Business: Q2/2021 EBITDA 827 MB Total Sales Volume (ML/Mo) Sale Volume by Product (ML) o Sales volume lowered by 5% QoQ, as the retail market was pressured HSD by the escalation of COVID-19 cases, while the industrial sales remained Retail 800 715 708 731 746 748 713 364 359 365 368 367 40
Slide 9: Power Plant Business: Q2/2021 EBITDA 997 MB
Power Plant Business: Q2/2021 EBITDA 997 MB Electricity Sales (Million kWh) Performance remained strong. Laos hydropower and Japan Laos JP TH solar were the main leader, added with higher share of profit Electricity sales +20% QoQ 189 151 157 o Laos hydropower sales +50% as high season started in la
Slide 10: Bio-based Products Business: Q2/2021 EBITDA 296 MB
Bio-based POWER PLANTProduct BUSINESS Business: Q2/2021 EBITDA 296 MB Biodiesel Production & Sales Volume (Million Litres) Ethanol Production & Sales Volume (Million Litres) Production Sales volume Production Sales volume 60 62 63 65 63 63 56 50 47 44 42 34 Q2/20 Q1/21 Q2/21 Q2/20 Q1/21 Q2/21 Source
Slide 11: Natural Resources Business: Q2/2021 EBITDA 276 MB
Natural Resources Business: Q2/2021 EBITDA 276 MB Production Volume - Net to OKEA (kboe/d) 16.0 16.6 BCPR holds 46.09 % in OKEA ASA 9.0 13.2 7.8 5.8 Gjoa OKEA: 7.9 7.2 7.1 • Total net production was lowered to 13.2 kboe/d mainly from 31-days Draugen planned maintenance at Gjøa Ivar Aasen Q2/20 Q1/21
Slide 12: Table of Content
TABLE OF CONTENT 01 Q2/2021 Business Performance 02 Financial Performance 03 Business Update and Going Forward 12
Slide 13: Event Highlights
Event Highlights BCP’s dividend payment of 0.40 ฿/share for 2020 performance, totaling 543 MB April 2021 BCP sold all shares in BCP Energy International Pte.Ltd. (“BCPE”) to Sacgasco Limited, a company listed in Australian Securities Exchange. AS a result, BCP has no interest in Nido Petroleum Pty L
Slide 14: Q2 Consolidated Statement of Income
Q2 Consolidated Statement of Income Statement of Income (Unit:MB) Q1/2021 Q2/2021 Revenue 41,230 43,775 Cost of goods sold (36,626) (40,032) Gross profit decreased 19% QoQ mainly caused by lower inventory gain Gross Profit 4,604 3,744 (2,474 MB in Q1 vs. 1,299MB in Q2) as the global oil price incr
Slide 15: 1H Consolidated Statement of Income
1H Consolidated Statement of Income: Statement of Income (Unit:MB) 1H/2020 1H/2021 Revenue 69,665 85,006 Cost of goods sold (70,323) (76,658) 1H/2021 performance improved significantly compared to 1H/2020, Gross Profit (658) 8,348 as petroleum related business have recovered from peaked crude oil
Slide 16: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position Unit: MB Unit: MB 31 Dec 20 30 Jun 21 Change 31 Dec 20 30 Jun 21 Cash & Equivalents Total Assets 148,323 147,367 <1% 21,651 13,372 Trade and Other Total Liabilities 90,007 83,834 7% 7,859 Current Receivables 6,402 Total Equity 58,316 63,533 9% 17,104 Inve
Slide 17: Consolidated Statement of Cash Flow
Consolidated Statement of Cash Flow As of Jan 21 Beginning Cash Sources of Cash Uses of Cash 21,651 MB 7,577 (13,269) Unit: MB Cash movement (5,692) MB (8,033) Debt Service Interest & Dividend 208 Short Term Deposit received &Others (3,025) MB Debenture 1,300 LT loan from 1,664 financial institution
Slide 18: Table of Content
TABLE OF CONTENT 01 Q2/2021 Business Performance 02 Financial Performance 03 Business Update and Going Forward 18
Slide 19: Refinery Business: Focus More on High Value Products
Refinery Business: Focus More on High Value Products 1H/2021 2H/2021E 2021E Crack Spread: ($/BBL) 1H/2021 2H/2021E Crude run: KBD 86.1 110-115 95-100 10.5-11.0 DB: $/BBL 63.6 75-80 65-70 8.5 7.0-7.5 7.7 7.0-7.5 5.0 Customized Products: 3% 2% 95/DB GO/DB LSFO/DB LPG 20% 20% 7.5-8.0 Gasoline 2021E: 9.
Slide 20: FAST+ Refinery process optimization
Refinery process optimization to save cost and increase efficiency FAST+ F ocus A nalysis S uccess T ransform + Expected 2021 benefit of 1,300 MB Some of the initiatives: Increase diesel yield from catalyst optimization • Heat recovery Recovery energy in UCO production • Reduce steam and fuel VS. Ef
Slide 21: Greenovative Destination: Service Station Network Expansion
Greenovative Destination Expand network and new products to maximum customers satisfaction Food Truck Service station Network Expansion 2/10 stations 1,247 2020 2021 in 2021 as of Jun 2021 1,233 1,310 Standard Type 636 sites stations stations COOP Type 611 sites Focus on: Standard type and JV type C
Slide 22: Inthanin is Growing Vibrantly
Inthanin is Growing Vibrantly New Business Partner 2/12 Stores in 2021 711 stores as of Jun 2021 Sales through Online Delivery 474 sites in S/S 237 sites out S/S Platform + 90% QoQ 2021 Target 800 stores Q2/2021 Sales Performance: Total cups/Day +37% YoY +7% QoQ Q2/20 Q1/21 Q2/21 The finest selectio
Slide 23: Other Non-oil Businesses
Other Non-oil Businesses EV Chargers on Major Routes across The Country in 152 Bangchak Stations You can also look for… Metropolitan Service Areas Lotus Vending Machine MG SUPER CHARGE 2/50 2021 Target: 50 stations units First run in October in 2021 2021 Target: 7 stations Domestic Lubricant Market
Slide 24: BBGI's High-value Biobased Products are Underway
BBGI’s High-value Biobased Products are Underway Filing within Q3/2021 & IPO in Q1/2022 • BBGI imported product Astaxanthin ingredients for B2B customer since June, with the plan for B2C in the name “B Nature Plus” • BBGI with the Department of Biochemistry, Chulalongkorn University, funded by Organ
Slide 25: LNG: New Business from Our Long Term Aspiration
LNG: New Business from Our Long Term Aspiration To move towards our greener portfolio LNG is one of the cleanest fuel in the context of energy transition, which represents an Registered capital 200 MB excellent alternative to reduce greenhouse gas emissions and help 51% 49% combat global warming Col
Slide 26: Business Update
Business Update 24 MUSD investment in VRB Energy, utility-scale Yme: first oil in 2H2021 production of energy storage business • average 5,600 boepd net to OKEA in the first-year Hydropower plants Q3/2021 performance may • 7,500 boepd net to OKEA at plateau improve both YoY and QoQ from expect
Slide 27: All time high 1H performance
Amidst the Economic Turbulence, Every Business Contribution Strengthen BCP Group 1H EBITDA 9,006 MB 1H Net Profit 4,048 MB All time high 1H performance Net profit attributable to the owners of parent 27
Slide 28: Q&A Session
Q&A Session Please tell us your feedback THANK YOU ir@bangchak.co.th Tel. +66 2335 4370 / 8518 www.bangchak.co.th
Slide 29: Thank You
THANK YOU Please tell us your feedback ir@bangchak.co.th Tel. +66 2335 4370 / 8518 www.bangchak.co.th Disclaimer The information contained herein is being furnished on a confidential basis for discussion purposes only and only for the use of the recipient, and may be subject to completion or amendme
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