Petronas Chemicals Group Bhd. · MYX:PCHEM
Petronas Chemicals Group Bhd — Petronas Gas Berhad — Q2 2020 Earnings Presentation
25 slides from Petronas Chemicals Group Bhd's earnings presentation, Aug 21, 2020
Slide 1: Analyst Briefing Q2 2020, 21 Aug 2020
Friday, 21 Aug 2020 9:00 – 10:00 a.m. (GMT+8) © 2020 Petroliam Nasional Berhad (PETRONAS) |
Slide 2: Disclaimer
Disclaimer © 2020 Petroliam Nasional Berhad (PETRONAS) |
Slide 3: PGB Management
PGB Management Kamal Bahrin Ahmad Shariza Sharis Abdul Razak Izan Hajar Ishak M Yusof Saim Managing Director/ Head, Business Chief Executive Chief Financial Development & Head, Investor Officer Officer Commercial Relations © 2020 Petroliam Nasional Berhad (PETRONAS) | 3
Slide 4: Presentation Outline
Presentation Outline 01 HIGHLIGHTS 02 OPERATIONAL PERFORMANCE 03 FINANCIAL PERFORMANCE 04 UPDATES © 2020 Petroliam Nasional Berhad (PETRONAS) | 4
Slide 5: Highlights
HIGHLIGHTS
Slide 6: New Norms
NEW NORMS Maintaining stable operations during challenging times © 2020 Petroliam Nasional Berhad (PETRONAS) | 6
Slide 7: Q2 2020 Highlights
Q2 2020 HIGHLIGHTS COVID-19 & MCO did not significantly impact the Group’s overall performance Excellent Plant Performance Operations High plant reliability sustained Achieved performance incentives IBR for Regulated Businesses Commercial TPA Higher RP1 tariffs with inclusion of IGC recovery RP1 tar
Slide 8: Q2 2020 Highlights
Q2 2020 HIGHLIGHTS COVID-19 & MCO did not significantly impact the Group’s overall performance Revenue Q2 2020 Q1 2020 Q2 2019 H1 2020 H1 2019 RM1.40 bn 0.3% 1% RM2.80 bn 2% Gross Profit Q2 2020 Q1 2020 Q2 2019 H1 2020 H1 2019 RM675 mil 11% 4% RM1.28 bn 3% Profit After Tax Q2 2020 Q1 2020 Q2 2019 H1
Slide 9: Operational Performance
. stot etotetetere *. ** ©@©@e@@ @ @ < gta ee @.0.@ ¢ . @ @ » + 2 saMs* ee @@ seeeee OPERATIONAL oy a ee PERFORMANCE a. *.°onen Bes * oa °©e@@0@86@ © @ @ @ : * s © ae A @ rztmonas P . ° ee @
Slide 10: Gas Processing
GAS PROCESSING Strong OEE, demonstrating commitment in ensuring system reliability and sustenance of performance incentives OEE (%) C1 C2 99.9 100 100 99.7 99.7 98.9 World Class Reliability YTD Salesgas 100% Q2 Q1 Q2 Q2 Q1 Q2 2019 2020 2020 2019 2020 2020 99.7 100 99.7 99.0 Performance Incentives YT
Slide 11: Gas Transportation & Regasification
GAS TRANSPORTATION & REGASIFICATION GT sustained commitment in ensuring security of gas supply to the nation, Regasification maintained strong performance Transportation Regasification Reliability (%) OEE (%) RGTSU RGTP 100 99.91 100 100 100 100 100 100 100 Average Salesgas Delivery YTD Salesgas 1,9
Slide 12: Utilities
UTILITIES Sustained sales volume across all products on the back of customer demand Electricity Steam Industrial Gases GWh kMt Mil Nm3 1,023 971 Product Delivery 926 Reliability YTD 471 403 388 160 159 163 Electricity 100% Q2 Electricity Q1 Q2 Q2 Q1 Q2 Q2 Q1 Q2 Steam 100% 2019 2020 2020 2019 2020 20
Slide 13: Financial Performance
. stot etotetetere *. ** ©@©@e@@ @ @ < gee *. ee@@ @.0.e@ ¢ . e@ @ » + 2 saMs* ee @@ seeeee FINANCIAL oy a ee PERFORMANCE a. *.°onen Bes * oa °©e@@0@86@ © @ @ @ : * s © ae A @ rztmonas P . ° ee @
Slide 14: Financial: Gas Processing
FINANCIAL: GAS PROCESSING Higher revenue and gross profit on the back of higher plant efficiencies QoQ H1 2020 0.7% RM Mil 0.2% UT 427 431 430 Group Revenue Revenue GP Regas RM2,796 mil 31% RM860 mil GT Q2 Q1 Q2 2019 2020 2020 RM Mil 15% UT Regas 12% Group Gross 250 Gross Profit GP 223 RM472 mil Pro
Slide 15: Financial: Gas Transportation
FINANCIAL: GAS TRANSPORTATION Higher RP1 tariff mitigated lower revenue from transfer of Sabah-Sarawak operations and Sarawak assets QoQ H1 2020 RM Mil 0.3% GP 0.3% 293 293 292 Group Revenue Revenue GT RM585 mil RM2,796 mil 21% UT Regas Q2 Q1 Q2 2019 2020 2020 RM Mil 4% GP 10% 215 Group 207 Gross 18
Slide 16: Financial: Regasification
FINANCIAL: REGASIFICATION Higher revenue and gross profit in line with IBR tariffs QoQ H1 2020 14% RM Mil GT 1% 345 350 308 Group Revenue GP Revenue Regas RM695 mil RM2,796 mil 25% UT Q2 Q1 Q2 2019 2020 2020 6% GT RM Mil 2% Group Gross 158 165 168 Gross Profit Regas Profit RM1,284 mil 26% RM333 mil
Slide 17: Financial: Utilities
FINANCIAL: UTILITIES Lower revenue and gross profit mainly due to lower electricity demand QoQ H1 2020 7% RM Mil Regas 352 328 328 Group Revenue GT Revenue UT 23% RM656 mil RM2,796 mil GP Q2 Q1 Q2 2019 2020 2020 Regas RM Mil 15% 52% GT Group UT Gross 59 Gross Profit 6% RM83 mil 50 RM1,284 mil Profit
Slide 18: Financial: Group
FINANCIAL: GROUP Higher contribution to gross profit from Gas Processing and Regasification, lower H1 PAT on unrealised currency translation Revenue Gross Profit Profit After Tax RM Mil 1% RM Mil RM Mil 4% 11% 0.3% 11% 65% 1,380 1,396 1,400 651 675 574 610 515 348 Q2 Q1 Q2 Q2 Q1 Q2 Q2 Q1 Q2 2019 202
Slide 19: Total Assets
TOTAL ASSETS Robust asset base supported by healthy cash balance as well as property, plant and equipment Total Assets Segmental Assets NBV (RM Mil) (RM Mil) 19,584 19,603 2,315 Other Assets 2,259 GT Regas Cash & Cash 2,793 4,022 4,255 6,273 Equivalents 14% 32% GP RM19,603 4,290 UT Property, Plant 2
Slide 20: Dividends
DIVIDENDS Maximising shareholders return through sustained dividend payments Dividend Payout Ratio 84% 72% Dividend per share (sen) 82 82 Special 10 Special Q4 22 Quarterly Dividend 50 Payment Q3 18 Q2 16 16 Q2 Q1 16 16 Q1 31-Dec-19 30-Jun-20 © 2020 Petroliam Nasional Berhad (PETRONAS) | 20
Slide 21: Updates
UPDATES
Slide 22: Updates: Projects progressing with revised timeline
UPDATES Projects progressing with revised timeline H2 2020 H2 2020 2021 © 2020 Petroliam Nasional Berhad (PETRONAS) | 22
Slide 23: Updates: Third Party Access
UPDATES Third Party Access is now available up to 100 mmscfd or equivalent to 20% of RGTSU’s capacity LNG RGTSU PGU Regasification Transportation Service Service RGTSU PGU Definition of Quantity of gas that can Send out capacity Capacity flow through PGU Maximum Capacity 500 mmscfd 3500 mmscfd Booke
Slide 24: Q&A
Q&A
Slide 25: Contact Us
Contact Us 3 Izan Hajar Ishak +6 03 23319366 @ www.petronasgas.com (Head, Investor Relations) *“2© 0© @e@@@@ 86 @ | @ ir.petronasgas@petronas.com -2© 0e @@@8686 @ ®@ e©ee@ee@ee@ G rermonas "3 "e's ee es ee