Electricity Generating Public Co., Ltd. · SET:EGCO
Electricity Generating Public — H1 2007 Earnings Presentation
38 slides from Electricity Generating Public's earnings presentation, 2007
Slide 1: Corporate Presentation: Six-Month Period Financial Results Ended 30 June 2007
Corporate Presentation Six - Month Period Financial Results Ended 30 June 2007
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 • EGCO Group’s Portfolio • Financial Results • Operating Performance (REGCO & KEGCO) • Appendices 3
Slide 4: EGCO Group's Portfolio
EGCO Group’s Portfolio • Corporate Overview • Projects under Construction • Future Projects
Slide 5: EGCO Shareholding Structure as of April 2007
EGCO Shareholding Structure as of 2 April 2007 EGAT OneEnergy Thailand Ltd. (owned by One Energy which is jointly 25.41% 22.42% owned 50% each by CLP Holding and Mitsubishi Corporation) • Foreign investors including those investing in foreign board (22.39%) and Non-Voting Depository Receipts “NVDR”
Slide 6: EGCO Board of Directors
EGCO Board of Directors EGCO President EGAT Directors • Mr. Visit Akaravinak • Chairman of the Board (Mr. Sanit Rangnoi) • Mr. Chamnong Wongsawarng • Mr. Sombat Sarntijaree • Mr. Narongsak Vichetpan Board of Directors CLP Directors Independent Directors • Mr. Richard McIndoe • Mr . Aswin Kongsiri •
Slide 7: 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 Mindanao Island Yala Malaysi
Slide 8: EGCO Group Portfolio
Energy for life Power Plant ProvincelCountry Fuel Type wv EGCO Share “Mi Ny mm) % of Total CoD REGCO Rayong Natural Gas 1,232.0 100.00% 1,232.0 1,232.0 29.73% 7 Dec 94 KEGCO Nakorn SriThammarat Natural Gas 824.0 — 100.00% 824.0 824.0 19.89% 19 Jun 96 JD-AEP Chonburi Natural Gas 165.0 14.85% 24.5 24.
Slide 9: EGCO: Group Structure
EGCO : Group Structure 4,143.6 Majority Owned Equally or Minority Owned EGCO EGCO 2,156.6 MW 1,987.0 MW 1,232.0 7.0 824.0 93.6 717.0 26.4 49.6 267.5 926.5 50% 100% 50% 99.1 25% 50% 1,853.0 100% 100% 100% EGCO JD REGCO BLCP EGCO BVI NT 2 GEC KEGCO ESCO 1,232.0 1,434.0 1,070.0 824.0 40% 66.0 29.7% 49.
Slide 10: EGCO Group's CSR Projects
EGCO Group’s CSR Projects Nationwide 1. Forest : The Circle of Life (Forest Planting at Doi Inthanond) 2. School Network for Global Warming Reduction 3. Thai conservation of Forest Youth Camp 4. Power of Books : Power of Learning Local 5. Cleaner Canal : Better Living 10. School Fresh-water Fish Far
Slide 11: EGCO Group's Portfolio: Projects under Construction
EGCO Group’s Portfolio • Corporate Overview • Projects under Construction • Future Projects
Slide 12: GPG (Kaeng Khoi 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) ( Unit #1 - 5 May 2007) Estimated Project Cost : USD 930 Million EGCO Mitpower (Th
Slide 13: 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 : December 2009 Project Progress : Construction phase EGCO LHSE* Estimated Project Cost : USD 1.2-1.3
Slide 14: EGCO Group's Portfolio: Future Projects
EGCO Group’s Portfolio • Corporate Overview • Projects under Construction • Future Projects
Slide 15: IPP Bidding Expected Capacity
IPP Bidding Expected Capacity New Additional Capacity 2012-2014 Allocated to EGAT 2,100 IPP Bidding (Round I ) 3,200 Neighboring Countries 1,444 SPP 600 Total 7,344 New Additional Capacity 2015-2017 Allocated to EGAT 3,500 IPP Bidding (Round II ) 4,200 Neighboring Countries 890 SPP 600 Total 9,190 S
Slide 16: IPP Bidding Schedule
IPP Bidding Schedule Deadline for Announcement of Announcement of RFP Available bid submission Stage 2, 3 Bidders finalization of PPA Jun-07 Oct-07 9, 16 Nov-07 Jun-08 Amount Cumulative Amount Capacity Addition Period (MW) (MW) August 2011 – March 2012 800 800 August 2012 – March 2013 800 1,600 Augu
Slide 17: 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 % 17
Slide 18: 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 % 18
Slide 19: LNG Receiving Terminal Project
LNG Receiving Terminal Project Location : Rayong, Thailand Capacity : Phase 1 - 5 MTA Phase 2 - 10 MTA COD : 2011 EGCO 20 % PTT Project Progress 50% EGCO signed MoU with EGAT and PTT EGAT conduct a feasibility study LNG Receiving 30% Terminal Note: Tentative por tion for investment 19
Slide 20: Financial Results
2 "< EG C O Energy for life GROUP Financial Results
Slide 21: Operating Results - Net Profit and EBITDA
Operating Results - Net Profit and EBITDA Ended June 30, 2007 and 2006 MM baht 1H07 1H06 6,672 5,445 5,025 3,652 491 103 -412 -273 -668 -569 -1,066 -1,047 EBITDA Interest Tax Depre & Amort Fx Gain (Loss) Net Profit after Fx, Tax 21
Slide 22: Segmental Operating Results Ended June 30, 2007
Segmental Operating Results Ended June 30, 2007 MM baht 22
Slide 23: Segmental Operating Results Ended June 30, 2006
Segmental Operating Results Ended June 30, 2006 MM baht 23
Slide 24: Cashflow Ended June 30, 2007 and 2006
Cashflow Ended June 30, 2007 and 2006 MM baht 24
Slide 25: Summary of Debt Structure
Summary of Debt Structure Total Facilities Total Outstanding Balances 30 June 2007 USD 192 M. USD 48 M. JPY 1,260 M. JPY 921 M. Baht 20,287 M. Baht 11,814 M. • Total facilities and total outstanding balances of EGCO Group (Not in EGCO’ s portion) • Total outstanding balances in Baht and Baht equival
Slide 26: Financial Ratio Highlights
Financial Ratio Highlights 26
Slide 27: 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 1.50 1.75 2.00 2.00 2.00 2 1.50 1.25 1.5 1.25 1.27 1.00 2.00 1 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 c
Slide 28: Operating Performance (REGCO & KEGCO)
Operating Performance (REGCO & KEGCO)
Slide 29: 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 30: Major Maintenance Expenses for the Year 2007
Major Maintenance Expenses for the Year 2007 Million Baht REGCO Quarter 1 2 3 4 Total Actual Actual Budget Budget Spare Parts 68.98 63.13 23.70 57.88 213.69 Service Charge 52.39 22.33 70.65 93.60 238.97 Total 121.37 85.46 94.35 151.48 452.66 KEGCO Quarter 1 2 3 4 Total Actual Actual Budget Budget Sp
Slide 31: 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 32: Operating Performance Equivalent Availability Factor
Operating Performance Equivalent Availability Factor for the 1st & 2nd Quarter of 2007 and 2006 REGCO 2007 2006 1Q07 2Q07 1Q06 2Q06 Plant Type Target EAF (%) Actual EAF (%) Target EAF (%) Actual EAF (%) Target EAF (%) Actual EAF ( %) Target EAF (%) Actual EAF (%) CCGT #1 99.68 99.87 74.58 77.04 88.4
Slide 33: Net Generation and Fuel Consumption
Net Generation and Fuel Consumption for the 1st & 2 nd Quarter of 2007 and 2006 RE GC O 2 00 7 2 00 6 CCG T #1- 4 1Q 07 2Q07 1Q 06 2Q 06 N e t G e n e r a tio n - B y N a t u r a l G a s (G W h ) 812 1,190 1 ,7 2 0 1,777 - B y S e c o n d ar y F u e l (G W h ) 0 .3 4 - 0 .4 9 - F u e l C o n su m p
Slide 34: Appendices: Thailand's Electricity Industry Overview
Appendices • Thailand’s Electricity Industry Overview
Slide 35: 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 36: Historical Demand Growth
Historical Demand Growth 22,586.10 MW or MW 7.23% increase (as at 24 April 2007) 21,064 MW or 23,000 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 Febr uary March Apr il M ay Jun e Ju ly August Septembe r October No vember De cemb
Slide 37: 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 38: Thank You
uO iS FE G C O Energy for life GROUP Thank You
Electricity Generating Public Co., Ltd. (EGCO) — H1 2007 Earnings Presentation on 6ix