Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q4 2024 Earnings Presentation
35 slides from Siamgas & Petrochemicals Public's earnings presentation, March 2025
Slide 1: 4Q/2024 Performance
4Q/2024 Performance SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED
Slide 2: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 2
Slide 3: Shareholding Structure
SHAREHOLDING STRUCTURE Domestic Fund MAJOR SHAREHOLDERS 0.04% (Weeraborwornpong Group) PUBLIC Retail 55.7 12.57% Foreign 814.32 % 31.43% Million Shares Thai NVDR 1,837.86 0.26% Million Shares PUBLIC 44.3 % 3 Latest book closing : On 14 MAR 2025
Slide 4: Milestones
Biauestones ® 1976 » Founded the company aura 2016 » Invesment * 230 MW. COMBINE CYCLE POWER PLANT in Myanmar ] 200. » Business acqu * UNIQUEGAS a uy = 018 » Invesment #10 MW. DIESEL. POWER PLANT in Myanmar 3 ion © Oo 2005 2008 » Founded marine and » Listed in SET land logistic » Setup cylinder manu
Slide 5: Business Operation
BUSINESS OPERATION THAILAND OVERSEA 1 LIQUEFIED PETROLEUM GAS (LPG) LIQUEFIED PETROLEUM GAS (LPG) • Singapore 2 ROAD TRANSPORTATION • China 1 • Malaysia 3 MARINE TRANSPORTATION • Vietnam • Laos 4 CYLINDER MANUFACTURING COMBINE CYCLE POWER PLANT 2 5 OIL RETAIL BUSINESS • Myanmar DIESEL POWER PLANT 3
Slide 6: Business Update
BUSINESS UPDATE THAILAND The Company started import LPG to domestic market beginning from smaller volume and will increases gradually. Domestic sale volume in Q4/2024 increased 2.2% compares to the same period last year due to increased in demand from all three sectors which are cooking, automotive,
Slide 7: SGP's Presence
SGP’s PRESENCE South China, Zhuhai LPG LPG Business SOGEL Vietnam, HaiPhong LPG SUPERGAS Other Business Myanmar, Mawlamying South China, Zhuhai MLIPP LPG Powerplant 230 MW. SINOSIAMGAS Laos Prasansack LPG LPG Business Myanmar, Anin Thailand SMD LPG SIAMGAS & UNIQUEGAS Diesel Powerplant 10 MW. Thaila
Slide 8: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 8
Slide 9: Value Chain
VALUE CHAIN Customers / Procurement Inbound Logistics SGP Terminal & Depots Outbound Logistics Consumers LPG Transport LPG from separation plant by Fill in LPG cylinder for delivery. truck tanker to the Company’s Terminal COOKING and Depot. Sathupradit Terminal AUTOMOTIVE LPG Bangpakong Terminal Suk
Slide 10: Thailand LPG Market – All Sectors
THAILAND LPG MARKET – ALL SECTORS SALE VOLUME (TON) MARKET SHARE (%) +1.7% +7.4% +0.4% -10.8% -0.5% 3,389 3,372 3,626 3,639 3,700 38.6% 21.1% Market -0.9% Share 2 -15.4% -5.8% +5.3% +1.9% 782 MARKET 12.7% 805 759 775 790 SIAMGAS Others 18.6% (8 com.) 9.0% YEAR Unit : ‘000 tons 2020 2021 2022 2023 20
Slide 11: Cooking Market
COOKING MARKET SALE VOLUME (TON) +1.4% +1.2% -0.05% -4.4% +0.8% 2,033 2,094 2,123 2,095 2,049 -11.7% -2.6% -0.3% -4.2% +1.6% MARKET 502 489 488 467 474 SIAMGAS YEAR Unit : ‘000 tons 2020 2021 2022 2023 2024 YoY: Total +2.5% | SGP +3.0% 46.7% MARKET SHARE (%) 22.3% QoQ: Total +2.3% | SGP +4.1% Market
Slide 12: Automotive Market
AUTOMOTIVE MARKET SALE VOLUME (TON) +3.2% +3.3% +25.4% -26.4% 799 825 852 752 -14.4% 644 -24.5% +6.9% -24.2% +16.5% +6.2% MARKET 169 128 147 156 166 SIAMGAS YEAR Unit : ‘000 tons 2020 2021 2022 2023 2024 Others (7 com.) 12.1% YoY: Total +1.3% | SGP +10.1% MARKET SHARE (%) 25.6% 19.2% QoQ: Total +1.5
Slide 13: Industry Market
INDUSTRY MARKET SALE VOLUME (TON) +8.8% +0.6% -1.6% +12.4% -7.2% 732 721 725 604 679 -15.6% +5.4% +14.7% +18.8% -15.1% MARKET 135 167 142 142 140 SIAMGAS YEAR Unit : ‘000 tons 2020 2021 2022 2023 2024 YoY: Total +2.4% | SGP -14.7% 46.2% 19.7% MARKET SHARE (%) QoQ: Total -2.0% | SGP -0.5% Market 2 Sh
Slide 14: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 14
Slide 15: Saudi Aramco CP vs Crude Oil
SAUDI ARAMCO CP vs CRUDE OIL 940 USD/TON LPG 895 Propane [C3] Butane [C4] 850 1000 790 775 750 740 900 725 720 960 670 920 650 650 635 635 630 630 800 625 620 605 615 600 860 610 610 610 590 590 590 580 580 580 555 555 550 790 700 775 750 740 725 470 710 450 600 400 660 650 640 640 630 630 630 630 6
Slide 16: Lead Time
LEAD TIME USA 30 1.5 30 5 45 Middle East 5.5 8 12 Supply from Middle East 7 3 Supply from Australia 2.5 Supply from USA 0.75 Receiving and distribution point 1 Delivery time Australia 7 Floating Storage 16
Slide 17: Offshore Trading Business
OFFSHORE TRADING BUSINESS SALE VOLUME (TON) YoY +11.5% +2.1% -0.7% QoQ +5.9% -6.6% 1,351,030 YoY +3.5% -1.1% -5.2% +11.5% QoQ +31.3% -22.9% +4.0% +5.9% 335,244 1,416,870 1,323,806 300,704 316,591 394,804 304,391 316,591 335,244 Yearly Quarterly 2022 2023 2024 1Q|24 2Q|24 3Q|24 4Q|24 4Q|23 3Q|24 4Q|2
Slide 18: Retail Business
RETAIL BUSINESS SALE VOLUME (TON) Unit : tons +25.7% +6.9% -28.4% YoY -31.9% YoY -20.6% -19.6% -38.9% -31.9% 1,057,521 QoQ -24.0% +11.9% -9.4% -11.7% QoQ -11.7% 1,476,970 345,164 1,382,207 266,214 235,120 262,415 293,771 266,214 235,120 Yearly Quarterly 2022 2023 2024 1Q|24 2Q|24 3Q|24 4Q|24 4Q|23 3
Slide 19: Total Sales Oversea
TOTAL SALES OVERSEA SALE VOLUME (TON) Unit : tons -14.0% +25.7% +0.1% YoY -11.7% 2,408,550 YoY -7.7% -11.2% -24.3% -11.7% QoQ +1.8% -9.0% -2.6% -2.1% QoQ -2.1% 2,800,776 2,799,077 570,364 645,867 582,805 657,219 598,162 582,805 570,364 Yearly Quarterly 2022 2023 2024 1Q|24 2Q|24 3Q|24 4Q|24 4Q|23 3Q
Slide 20: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 20
Slide 21: Power Plant
wey, POWER PLANT
Slide 22: Other Business
OTHER BUSINESS SELL TO GOVERNMENT >>> SELL TO HOUSEHOLD >>> SELL TO HOUSEHOLD >>> 230 MW. COMBINE CYCLE POWERPLANT 10 MW. DIESEL POWERPLANT ANNUALLY | SALE VOLUME (MW.) ANNUALLY | SALE VOLUME (MW.) -6.6% YoY YoY +6.3% +2.6% -10.8% +4.1% +6.3% -16.9% -6.4% -7.3% -7.3% 1,268,385 1,252,470 6,750 1,131,
Slide 23: Liquid Tank Farm and Deep Sea Port
LIQUID TANK FARM AND DEEP SEA PORT
Slide 24: Other Business
OTHER BUSINESS LIQUID TANK FARM & DEEPSEA PORT SERVICE OIL TRADING OVERSEA BUSINESS No. Total Number of Utilized ANNUALLY | SALE VOLUME (BARRELS) Capacity Liquid Tank As 31 DEC 2024 (Mil.Liter) +63.5% YoY 1 15.27 4 (avg. 3.82/unit) 2 2 1,969,494 -65.3% +30.9% -534,983 Barrel 2 27.05 4 4 -68.2% (avg.
Slide 25: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 25
Slide 26: Revenue Portion
REVENUE PORTION 2024 Thailand 29.1% (Thailand LPG, Logistic & Other) REVENUE PORTION by PRODUCT Oversea 70.9% (Offshore Trading & Retail Oversea Business) LPG Oversea, 70.3% 84,561 LPG Million Baht Domestic, 21.8% Offshore Thailand 39.4% 27.8% Oversea Other, business 5.0% OIL, 31.5% 2.9% Other 0.8%
Slide 27: Revenue
REVENUE REVENUE (MILLION BAHT) 2024 Consolidated REVENUE of Bt.84,561 m shows a -7.2% yoy decline YEARLY QUARTERLY Unit : Million Baht YoY Unit : Million Baht YoY QoQ -7.2% -11.2% +1.2% CP Price (Yearly Average) CP Price (Quarterly Avg.) -6,545 M.Baht -2,548 M.Baht +240 M.Baht 735.63 638.75 631.67 6
Slide 28: EBITDA & EBITDA Margin
EBITDA & EBITDA MARGIN 2024 Consolidated EBITDA of Bt.4,144 m shows a +7.9% yoy growth EBITDA (MILLION BAHT) & EBITDA MARGIN (%) YEARLY QUARTERLY EBITDA EBITDA MARGIN YoY YoY QoQ +7.9% CP Price (Change in CP) -36.6% -16.5% CP Price (Change in CP) +4,144 M.Baht -586 M.Baht -200 M.Baht 317.5 60 +53.3%
Slide 29: Net Profit & Net Profit Margin
NET PROFIT & NET PROFIT MARGIN NET PROFIT (MILLION BAHT) & NET PROFIT MARGIN (%) 2024 Consolidated NET PROFIT of Bt.1,319 m shows a +29.6% yoy growth YEARLY QUARTERLY NET PROFIT YoY YoY QoQ NET PROFIT MARGIN +29.6% -136% -35.1% +1,319 M.Baht -485 M.Baht -148 M.Baht +84.7% 4,000.00 3,809 10.00% -38.4
Slide 30: Financial Position
FINANCIAL POSITION ASSET (THB Million) LIABILITIES (THB Million) EQUITY (THB Million) PP&E Other asset Shot term loan Current liabilities Total Equity Inventory Cash & Equivalents Long term Debt Non current liabilities +7.7% 56,890 52,845 3,749 5,378 10,183 39,768 36,930 +7.7% +7.6% 17,122 9,826 15,
Slide 31: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 31
Slide 32: 2024 Sale Volume vs 2025 Outlook
2024 SALE VOLUME vs 2025 OUTLOOK SALE VOLUME 2024 & OUTLOOK 2025 LPG Sales Volume (Tons) Sales volume (TONs) 2022 2023 2024 % 24 / 23 Outlook 2025 % Growth SGP - Thailand SGP Offshore Trading SGP - Thailand 803,542.25 812,853.54 825,538.66 1.6% 900,000 9.0% China Vietnam SGP Offshore Trading* 1,416,
Slide 33: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 33
Slide 34: Dividend Payment
DIVIDEND PAYMENT DIVIDEND POLICY HISTORICAL DIVIDEND PAYMENT 2024 0.15 0.20 The Company has established the policy to Interim 2023 0.10 0.15 pay dividends to the shareholders at the rate Final 2022 0.20 0.20 of not less than 40% of the net profit after 2021 0.20 0.80 corporate income tax, accumulate
Slide 35: Thank You
THANK YOU 02-120-9999 # 3611,3612 sgp_ir@ugp.co.th www.siamgas.com 553 The Palladium Building 30th Floor, Ratchaprarop Road, Makkasan, Ratchathewi, Bangkok 10400 Thailand.
Siamgas and Petrochemicals Public Company — Q4 2024 Earnings Presentation on 6ix