Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q3 2025 Earnings Presentation
37 slides from Siamgas & Petrochemicals Public's earnings presentation, 2025
Slide 1: Investor Presentation 3Q/2025
Investor Presentation SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED 3Q/2025
Slide 2: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 2
Slide 3: Shareholding Structure
SHAREHOLDING STRUCTURE MAJOR SHAREHOLDERS : 55.7% (Weeraborwornpong Group) Public Shareholding 1,837.86 PUBLIC : 44.3% Million Shares Foreign 31.43% Retail 12.57% Thai 0.26% NVDR Latest book closing : On 14 MAR 2025 Domestic 0.04% 3
Slide 4: Milestones
MILESTONES 2013 ➢ Business Acquisition (LPG business) - MYGAZ in Malaysia - CITYGAS in Vietnam 1976 ➢ Founded the Company (LPG business) 2016 ➢ Investment (230 MW. Combine Cycle Powerplant) - SIAMGAS AND PETROCHMICALS PLC. - MLIPP in Myanmar 2004 ➢ Business Acquisition (LPG business) 2018 ➢ Investme
Slide 5: Business Operation
BUSINESS OPERATION THAILAND OVERSEA 1. LIQUEFIED PETROLEUM GAS (LPG) ➢ LIQUEFIED PETROLEUM GAS (LPG) (Singapore, China, Malaysia, Vietnam, Laos) 2. ROAD TRANSPORTATION ➢ COMBINE CYCLE POWERPLANT 3. MARINE TRANSPORTATION (Myanmar) 4. CYLINDER MANUFACTURING ➢ DIESEL POWERPLANT 5. OIL RETAIL BUSINESS (
Slide 6: Business Update
BUSINESS UPDATE THAILAND OVERSEA The Company imported LPG approximately 60,000 metric tons In CP price decreased USD 80.0 in Q3/2025. CP price decreased Q3/2025. The import amount is in line with the Company’s plan to substantially from Q2/2025 partially import LPG to domestic market. Sales vo
Slide 7: SGP's Presence
SGP’S PRESENCE Hai Phong, Vietnam South China, Shantou Mawlamying, Myanmar South China, Zhuhai Laos Anin, Myanmar Business Units Thailand LPG Retail Business LPG Trading Business Koh Si-Chang, Thailand Ho Chi Minh, Vietnam Oil Terminal & Deepsea port Powerplant West Malaysia East Malaysia Singapore
Slide 8: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 8
Slide 9: Value Chain
VALUE CHAIN Procurement Inbound SGP Terminal Outbound Customers Logistics & Depots Logistics Procure LPG from gas Transport gas from Storage at key Distribution of LPG to Serving Cooking, separation plants, receiving points to the locations such as various customer Automotive, and refineries, and co
Slide 10: Thailand LPG Market – All Sectors
THAILAND LPG MARKET – ALL SECTORS SALE VOLUME (‘000 TON) - YEARLY MARKET SHARE (%) 75.4 % of Y2024 9M/2025 590 2,777 -0.9% +1.7% 38.7% PTT 2024 782 3,700 +1.9% +0.4% 21.2% SIAMGAS 2023 790 3,639 +5.3% +7.4% WP 2022 775 3,626 12.3% Atlas oil -5.8% -0.5% Others 18.1% 9.6% Other 2021 759 3,372 (7 com.)
Slide 11: Cooking Market
COOKING MARKET SALE VOLUME (‘000 TON) - YEARLY 75.3 % of Y2024 MARKET SHARE (%) 9M/2025 357 1,603 -2.6% +1.4% 2024 474 2,123 -4.2% -0.05% 2023 467 2,094 46.9% -0.3% +1.2% 22.3% 2022 488 2,095 -2.6% +0.8% 2021 489 2,049 SIAMGAS MARKET 5.5% 4.0% 21.3% Others (7 com.) SALE VOLUME (‘000 TON) - QUARTERLY
Slide 12: Automotive Market
AUTOMOTIVE MARKET SALE VOLUME (‘000 TON) - YEARLY 76.5 % of Y2024 MARKET SHARE (%) 9M/2025 127 617 +6.9% +3.3% 2024 166 852 +6.2% +3.2% Others 11.1% 2023 156 825 (7 com.) 20.6% 23.9% +14.7% +24.1% 2022 147 799 -24.2% -14.4% 2021 128 644 15.8% SIAMGAS MARKET 28.6% SALE VOLUME (‘000 TON) - QUARTERLY 3
Slide 13: Industry Market
INDUSTRY MARKET SALE VOLUME (‘000 TON) - YEARLY 89.4 % of Y2024 MARKET SHARE (%) 9M/2025 127 617 -15.1% +0.6% 2024 142 725 +18.8% -1.6% 2023 167 721 45.4% 19.0% -1.0% +7.9% 2022 140 732 +5.4% +12.4% 2021 142 679 11.7% SIAMGAS MARKET 4.7% 19.2% Others (7 com.) SALE VOLUME (‘000 TON) - QUARTERLY 3Q'25
Slide 14: M.10
M.10 SALE VOLUME (‘000 TON) - YEARLY 209.8 % of Y2024 MARKET SHARE (%) 9M/2025 127 617 +98.5% +33.3% Others 2024 41 201 (7 com.) -17.1% +14.6% 15.5% 2023 20 151 6.3% 21.5% 2022 25 132 25.9% 2021 0 SIAMGAS MARKET 30.8% SALE VOLUME (‘000 TON) - QUARTERLY 3Q'25 12 53 PTT SIAMGAS WP Atlas oil Other COMP
Slide 15: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 15
Slide 16: Comparative Trends of Gas and Oil Prices
Comparative Trends of Gas and Oil Prices USD/TON 1000 Propane (C3) Butane (C4) LPG 790 900 720 800 635 635 635 630 630 625 625 620 615 615 615 610 610 610 605 600 600 590 590 580 580 580 575 700 790 555 555 550 520 520 740 600 470 450 640 640 400 630 630 630 625 620 620 620 620 615 615 605 605 605 5
Slide 17: Shipping Lead Time
SHIPPING LEAD TIME 30 30 USA 1.5 8 45 5.5 Floating Storage 5 Middle East 7 3 12 0.75 2.5 Supply from Middle East Supply from Australia Floating Storage Supply from USA 7 Receiving and distribution point 1 Delivery time Australia 17
Slide 18: Offshore Trading Business
Offshore Trading Business SALE VOLUME (TON) - YEARLY OUTLOOK 2025 60.0 % of Y2024 9M/2025 810,014 TARGET 1,500,000 TON +2.1% 2024 1,351,030 GROWTH 11% -6.6% 2023 1,323,806 -0.7% % SUCCESS % REMAINING 2022 1,416,870 54% 46% +14.9% 2021 1,426,789 CUSTOMER PORTION SALE VOLUME (TON) - QUARTERLY West ASI
Slide 19: Retail Business
Retail Business SALE VOLUME (TON) - YEARLY OUTLOOK 2025 81.0 % of Y2024 9M/2025 863,297 TARGET 1,163,500 TON +2.1% 2024 1,057,520 GROWTH 10% -6.6% 2023 1,476,970 -0.7% % SUCCESS % REMAINING 2022 1,382,207 74% 26% +14.9% 2021 1,100,025 PORTION SALE VOLUME (TON) - QUARTERLY China Malaysia Vietnam Sing
Slide 20: Total Sales Oversea
Total sales oversea SALE VOLUME (TON) - YEARLY OUTLOOK 2025 69.5 % of Y2024 9M/2025 1,673,311 TARGET 2,663,500 TON -14.0% 2024 2,408,549 GROWTH 10.6% +0.1% 2023 2,800,776 +10.8% % SUCCESS % REMAINING 2022 2,799,077 63% 37% +3.7% 2021 2,526,815 PORTION SALE VOLUME (TON) - QUARTERLY China Malaysia 40%
Slide 21: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 21
Slide 22: Power Plant
TS POWER PLANT
Slide 23: Other Business: Power Plant
OTHER BUSINESS : POWER PLANT 230 MW. COMBINE CYCLE POWER PLANT 10 MW. DIESEL POWER PLANT SELL TO GOVERNMENT SELL TO HOUSEHOLD 1,252,470 1,131,506 1,177,949 5,610 5,251 867,282 4,870 3,530 2022 2023 2024 9M/2025 2022 2023 2024 9M/2025 YoY -6.8% (-63,230 MW.) YoY -2.9% (-106 MW.) 9M represents 69.2% o
Slide 24: Liquid Tank Farm and Deepsea Port
LIQUID TANK FARM AND DEEPSEA PORT
Slide 25: Other Business
OTHER BUSINESS LIQUID TANK FARM & DEEPSEA PORT SERVICE OVERSEA OIL TRADING ANNUALLY SALE VOLUME (BARRELS) Capacity Number Utilized 819,890 No. Available (Mil.Liter) of Tank As 30 Sep 2025 626,122 1 15.27 4 2 2 2 27.05 4 4 0 284,907 3 187.14 4 3 1 0 136,350 4 116.25 2 2 0 2022 2023 2024 9M/2025 TOTAL
Slide 26: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 26
Slide 27: Revenue Portion (9M/2025)
REVENUE PORTION (9M/2025) REVENUE BY GEOGRAPHY REVENUE BY PRODUCT 25.20% Thailand (31.6%) 55,445 Offshore (32.1%) Oversea business (33.9%) 6.40% 65.70% Million Baht Logistic (1.6%) 2.70% Other (0.8%) LPG Domestic (25.2%) LPG Oversea (65.7%) Thailand 33.9% OIL (2.7%) (Thailand LPG, Logistic & Other)
Slide 28: Revenue
REVENUE 9M/2025 consolidated revenue of Bt 55,445 m shows a 13.9% YoY decline. Unit : Million Baht CP Price (Yearly Avg.) YEARLY 9 MONTH QUARTERLY CP Price (Half-year Avg.) CP Price (Quarterly Avg.) 735.63 REVENUE 638.75 629.17 620.00 608.96 598.33 576.04 580.56 602.22 584.17 523.33 +29.8% 580.56 10
Slide 29: EBITDA
EBITDA 9M/2025 consolidated EBITDA of Bt1,630 m shows a 47.9% YoY decline. Unit : Million Baht CP Price (Change in 12M) YEARLY 9 MONTH QUARTERLY CP Price (Change in 9M) 317.50 32.50 CP Price (Change in 3M) 27.50 -15.00 EBITDA 17.50 -35.00 -22.50 -25.00 EBITDA MARGIN -122.50 -127.50 +53.3% -127.50 70
Slide 30: Net Profit
NET PROFIT 9M/2025 consolidated NET PROFIT of Bt -659 m shows a 163.9% YoY decline Unit : Million Baht NET PROFIT YEARLY 9 MONTH QUARTERLY NET PROFIT MARGIN +84.7% 400 0 3,809 8.0 0% 350 0 300 0 1,046 +4,158.9% 3.0 0% 600 421 100 0 1.9 0% -35.1% 6.0 0% 250 0 1.62% 800 2.11% 273 -54.2% 1.4 0% 2.0 0%
Slide 31: Financial Position
FINANCIAL POSITION DEBT PORTION 56,890 ASSET (-7.4%) 52,678 3,749 Cash & Equivalents 10,183 3,436 5,467 13,876 12,663 Inventory LOAN (40%) Other asset 9,411 M.Baht PP&E 29,081 31,113 DEBENTURE (60%) 31-Dec-24 30-Sep-25 13,974 M.Baht 39,768 37,319 LIABILITIES (-6.2%) 8,395 Non current liabilities 8,5
Slide 32: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 32
Slide 33: Sale Performance vs. Outlook
SALE PERFORMANCE vs. OUTLOOK HISTORICAL SALES VOLUME (TONS) SALE PERFORMANCE 9M/2025 SGP - Thailand SGP Offshore Trading Sales volume (TONs) 2023 2024 9M/2024 Outlook 2025 9M|2025 % Success % YoY China Vietnam SGP - Thailand 812,853.54 825,538.66 610,167.34 900,000 635,178.93 70.6% 4.1% Malaysia & S
Slide 34: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 34
Slide 35: Dividend Payment
DIVIDEND PAYMENT DIVIDEND POLICY HISTORICAL DIVIDEND PAYMENT 2025 0.10 The Company has established the policy to pay 2024 0.15 0.20 Interim Final dividends to the shareholders at the rate of not 2023 0.10 0.15 less than 40% of the net profit after corporate 2022 0.20 0.20 income tax, accumulated los
Slide 36: Q&A
Q&A 36
Slide 37: 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 — Q3 2025 Earnings Presentation on 6ix