Electricity Generating Public Co., Ltd. · SET:EGCO
Electricity Generating Public — Q1 2007 Earnings Presentation
40 slides from Electricity Generating Public's earnings presentation, April 2007
Slide 1: Corporate Presentation: Quarterly Financial Results Ended 31 March 2007
Corporate Presentation Quarterly Financial Results Ended 31 March 2007 www.egco.com 1
Slide 2: Disclaimer Statement
Disclaimer Statement 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
Slide 3: Table of Contents
Table of Contents • Rebranding • Thailand’s Electricity Industry Overview • EGCO Group’s Investment • Financial Results • Operating Performance (REGCO & KEGCO) www.egco.com 3
Slide 4: Rebranding
| est Rebranding Energy for life www.egco.com
Slide 5: Changing of Company's Trading Symbol in SET
Changing of Company’s Trading Symbol in SET “เราไมหยุดนิ่งที่จะรวมสราง พลังงาน...เพื่อชีวิต” www.egco.com 5
Slide 6: Thailand's Electricity Industry Overview
Thailand’s Electricity Industry Overview www.egco.com 6
Slide 7: Current Electricity Supply Industry
Current Electricity Supply Industry National Energy Policy Council is the MOE’s primary committee in setting NEPC the country’s energy policies to be proposed to Cabinet for approval. MOE Ministry of Energy • Energy Policy and Planning Office is responsible for studying and analyzing energy policies
Slide 8: Historical Demand Growth
Historical Demand Growth 22,586.10 MW or 7.23% increase MW (as at 24 April 2007) 23,000 21,064 MW or 2.57% increase 22,000 21,000 2007 20,000 2006 19,000 2005 18,000 2004 17,000 2003 16,000 2002 15,000 14,000 January Fe bru ar y M ar ch Apr il M ay Jun e July Au gust Se ptemb er Octo ber Nov ember D
Slide 9: Thailand's New Capacity from 2006-2010
Thailand’s New Capacity from 2006-2010 New Allocated Power Plants Share of New Capacity by Company from 2006 - 2010 EGCO EGAT Other Players MW 4,500 4,143 4,143 3,875 4,000 3,508 OTHERS 3,500 22% EGCO 21% 3,000 2,416 Jana# 1 2,500 700 MW South BKK#3 746 MW J POWER 2,000 Ratchaburi 9% 1,500 Power#1-2
Slide 10: EGCO Group's Investment
EGCO Group’s Investment • Corporate Portfolio • 2007 COD Projects • Projects under Construction • Future Projects www.egco.com 10
Slide 11: Investment Map
Investment Map Bolikhamxay IPP Saraburi Nam Theun 1 SPP Gulf-GCC Laos Khammouane Gulf-NKCC Nam Theun 2 Gulf-GPG (Kaeng Khoi 2) Roi-Et Thailand Roi-Et Green Samutprakarn Gulf-SCC Cambodia Rayong REGCO Nakorn Sri Thammarat Chonburi BLCP KEGCO AEP TLP Cogen Philippines APBP Yala Mindanao Island Malaysi
Slide 12: EGCO Group Portfolio
EGCO Group Portfolio www.egco.com 12
Slide 13: EGCO: Group Structure
EGCO : Group Structure 4,143.4 Majority Owned Equally or Minority Owned EGCO EGCO 2,156.6 MW 1,986.8 MW 1,232.0 7.0 824.0 93.6 717.0 26.4 49.6 267.5 926.3 50% 100% 50% 99.1 25% 50% 1,852.5 100% 100% 100% EGCO JD REGCO BLCP EGCO BVI NT2 GEC KEGCO ESCO 1,070.0 1,232.0 824.0 1,434.0 40% 66.0 29.7% 49.0
Slide 14: EGCO Group's Investment: 2007 COD Projects
EGCO Group’s Investment • Corporate Portfolio • 2007 COD Projects • Projects under Construction • Future Projects www.egco.com 14
Slide 15: BLCP
BLCP Location : Rayong, Thailand Technology : Coal fired Power Plant Installed Capacity : 1,434 MW (2 units of 717 MW each) Type of Fuel : Coal PPA : 25-year with EGAT COD : 1 October 2006 (unit #1) 1 February 2007 (unit #2) EPC Contractor : Mitsubishi Heavy Industries 50% 50% Banpu EGCO www.egco.co
Slide 16: APBP-Expansion (Amata Power Bang Pakong Expansion)
APBP-Expansion (The Amata Power Bang Pakong Exp.) Location : Chonburi, Thailand Technology : Gas Turbine Expansion Capacity : 55 MW Type of Fuel : Natural Gas PPA : Industrial User COD : 28 April 2007 EGCO JD, 30.00% Amata Power, 70.00% Amata Power EGCO JD www.egco.com 16
Slide 17: GPG (Kaeng Khoi 2) Unit 1
GPG (Kaeng Khoi 2) Location : Saraburi, Thailand Technology : Combined Cycle Power Plant Installed Capacity : 1,468 MW (Unit #1- 734 MW) Type of Fuel : Natural Gas PPA : 25-year with EGAT COD : 5 May 2007 (unit #1) EGCO Mitpower (Thailand) 50% 1% . J. Pow er 49% J. Power EGCO Mitpower (Thailand) www
Slide 18: EGCO Group's Investment: Projects under Construction
EGCO Group’s Investment • Corporate Portfolio • 2007 COD Projects • Projects under Construction • Future Projects www.egco.com 18
Slide 19: GPG (Kaeng Khoi 2) Unit 2
GPG (Kaeng Khoi 2) Location : Saraburi, Thailand Technology : Combined Cycle Power Plant Installed Capacity : 1,468 MW (Unit #2 - 734 MW) Type of Fuel : Natural Gas PPA : 25-year with EGAT COD : 1 March 2008 (unit #2) EGCO Mitpower (Thailand) 50% 1% . J. Pow er 49% J. Power EGCO Mitpower (Thailand)
Slide 20: Nam Theun 2
Nam Theun 2 Location : Khammouane, Laos Technology : Hydroelectric Power Plant Installed Capacity : 1,070 MW Contracted capacity to EGAT : 920-995 MW Type of Fuel : Hydro PPA : 25-year with EGAT COD : November 2009 Project Progress : Construction phase EGCO LHSE* 25% 25% ITD 15% EDFI 35% EDFI EGCO L
Slide 21: EGCO Group's Investment: Future Projects
EGCO Group’s Investment • Corporate Portfolio • 2007 COD Projects • Projects under Construction • Future Projects www.egco.com 21
Slide 22: IPP Bidding Expected Capacity
IPP Bidding Expected Capacity MW Allocated to EGAT 2,100 Available for IPP bidding 3,000 2012-2014 Purchases from Neighboring countries 963 Total 6,063 MW Allocated to EGAT 4,200 Available for IPP bidding 4,200 2015-2017 Purchases from Neighboring countries 1,370 Total 9,770 www.egco.com 22
Slide 23: Nam Theun 1 Project
Nam Theun 1 Project Location : Bolikhamxay, Laos Technology : Hydroelectric Power Plant Installed Capacity : 523 MW Type of Fuel : Hydro COD : 2013 Laos 20 % EGCO 40 % Project Progress EGCO signed Tariff MoU with EGAT Gamuda 40 % www.egco.com 23
Slide 24: Wind Power Project
Wind – Power Project Location : The Southern coast of Thailand Capacity : 30-35 MW Feasibility Study : 18 Months Cost of Project : 1,800 MM Baht Eurus 20 % EGCO 30 % Project Progress EGCO signed MoU with PTT, WEGCO and EURUS conduct a feasibility study WEGCO 20 % PTT 30 % www.egco.com 24
Slide 25: LNG Receiving Terminal Project
LNG Receiving Terminal Project Location : Rayong, Thailand Capacity : Phase 1 - 5 MTA Phase 2 - 10 MTA COD : 2011 EGCO 20 % Project Progress PTT 50% EGCO signed MoU with EGAT and PTT conduct a feasibility study LNG Receiving Terminal EGAT 30% Note: Tentative por tion for investment www.egco.com 25
Slide 26: Financial Results
Financial Results www.egco.com 26
Slide 27: Operating Results - Net Profit and EBITDA
Operating Results - Net Profit and EBITDA Ended 31 March, 2007 and 2006 MM baht 1Q07 1Q06 3,355 2,824 2,538 2,070 388 64 -191 -163 -337 -286 -528 -520 EBITDA Interest Tax Depre & Amort Fx Gain (Loss) Net Profit after Fx, Tax www.egco.com 27
Slide 28: Segmental Operating Results Ended March 31, 2007
Segmental Operating Results Ended March 31, 2007 MM baht www.egco.com 28
Slide 29: Segmental Operating Results Ended March 31, 2006
Segmental Operating Results Ended March 31, 2006 MM baht www.egco.com 29
Slide 30: Cashflow Ended March 31, 2007 and 2006
Cashflow Ended March 31, 2007 and 2006 MM baht www.egco.com 30
Slide 31: Summary of Debt Structure
Summary of Debt Structure Total Facilities Total Outstanding Balances 31 March 2007 USD 192 M. USD 61 M. JPY 1,260 M. JPY 921 M. Baht 20,287 M. Baht 12,743 M. • Total facilities and total outstanding balances of EGCO Group (Not in EGCO’ s portion) • Total outstanding balances in Baht and Baht equiva
Slide 32: Financial Ratio Highlights
Financial Ratio Highlights www.egco.com 32
Slide 33: Dividend Policy
Dividend Policy Baht/Share 4.5 4.00 4 3.5 3.25 3.00 3 2.75 2.00 2.50 2.5 2.25 1.75 2.00 2.00 2.00 1.50 2 1.50 1.25 1.5 1.25 1.27 1.00 1 2.00 1.25 1.25 1.50 1.50 0.5 - 1.00 0 Year 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Annual Dividend Interim Final In the absence of unforeseen ci
Slide 34: Operating Performance (REGCO & KEGCO)
Operating Performance (REGCO & KEGCO) www.egco.com 34
Slide 35: Annual Net Generation & Electricity Sales 2002-2006
Annual Net Generation & Electricity Sales for the Year 2002-2006 Net Generation Electricity Sales Million Baht GWh 7,269 6,201 6,133 6,393 6,274 5,975 5,947 5,811 5,837 5,528 5,448 5,392 5,273 5,349 5,039 4,605 4,358 4,339 4,224 3,796 2002 2003 2004 2005 2006 2002 2003 2004 2005 2006 REGCO KEGCO • E
Slide 36: Major Maintenance Expenses for the Year 2007
Major Maintenance Expenses for the Year 2007 Million Baht REGCO Quarter 1 2 3 4 Total Actual Budget Budget Budget Spare Parts 68.98 26.94 23.70 57.88 177.50 Service Charge 52.39 26.48 70.65 93.60 243.12 Total 121.37 53.42 94.35 151.48 420.62 KEGCO Quarter 1 2 3 4 Total Actual Budget Budget Budget Sp
Slide 37: Major Maintenance Expenses for the Year 2006
Major Maintenance Expenses for the Year 2006 Million Baht REGCO Quarter 1 2 3 4 Total Actual Actual Actual Actual Spare Parts 37.67 36.04 34.22 43.15 151.08 Service Charge 37.72 26.15 78.28 21.11 163.26 Total 75.39 62.19 112.50 64.26 314.34 KEGCO Quarter 1 2 3 4 Total Actual Actual Actual Actual Spa
Slide 38: Operating Performance Equivalent Availability Factor
Operating Performance Equivalent Availability Factor For the 1st Quarter of 2007 and 2006 REGCO 1Q07 1Q06 Plant Type Target EAF (%) Actual EAF (%) Target EAF (%) Actual EAF (%) CCGT #1 99.68 99.87 88.48 89.45 CCGT #2 98.81 98.13 98.55 98.75 CCGT #3 97.94 99.63 97.68 98.91 CCGT #4 71.33 74.53 84.66 8
Slide 39: Net Generation and Fuel Consumption
Net Generation and Fuel Consumption For the 1st Quarter of 2007 and 2006 R EG C O CCG T #1- 4 1Q 07 1Q 06 N e t G e ne ra tion - B y N a tura l G a s (G Wh ) 812 1 ,7 2 0 - B y S e c o nd a ry F ue l (G W h ) 0.34 0 .4 9 F ue l C o n s um ptio n - B y N a tura l G a s (M M B TU ) 6 ,969, 558 14,487,
Slide 40: Q & A
| eat O&A Energy for life www.egco.com 40
Electricity Generating Public Co., Ltd. (EGCO) — Q1 2007 Earnings Presentation on 6ix