Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — FY2020 Earnings Presentation
15 slides from Tipco Asphalt Public's earnings presentation, Feb 23, 2021
Slide 1: Tipco Asphalt Public Company Limited (TASCO) 1-2021 Opportunity Day
Tipco Asphalt Public Company Limited (TASCO) 1-2021 Opportunity Day (FY2020 Operational Results) 23rd February 2021
Slide 2: Disclaimer
Disclaimer This presentation material has been prepared solely for informational purposes only. TASCO is furnishing it solely for use by prospective investors / analysts in the proposed event. TASCO makes no representations or warranties as to the accuracy or completeness of such information. By acc
Slide 3: Agenda
Agenda 01 FY2020 Financial Performance 02 2020 Highlights 03 Outlook 04 Q&A
Slide 4: Sales & Services Revenue & Sales Volume
Sales & Services Revenue & Sales Volume Sales & Services Revenue Unit: Mil. THB 36,893 Sales and services stood at Baht 26,155 26,155 million, reflecting a decrease of 29.11% from last year due to significant decrease in sales 5,111 7,091 6,542 10,784 8,576 9,450 5,926 9,568 volume in our internatio
Slide 5: Operating Gross Profit
Operating Gross Profit Operating Gross Profit Unit: Mil. THB The improvement in of gross profit margin 5,554 2020 2019 from 11.3% to 21.2% was mainly due to the 4,174 higher retail sales volume together with an 2,504 2,567 increase in average retail asphalt selling price 1,168 916 1,076 1,137 1,014
Slide 6: EBITDA & Net Profit
EBITDA & Net Profit EBITDA Unit: Mil. THB 5,591 The Company’s cashflow generated from 3,940 operations stood at Baht 5,591 million compared 2,361 to the Baht 3,940 million in 2019 due to 1,590 1,341 1,261 1,193 935 improved performance in this year as compared 379 472 to last year’s Q1 Q2 Q3 Q4 Year
Slide 7: Debt to Equity Ratio
Debt to Equity Ratio Debt/Equity Ratio 0.86 0.60 0.42 Q4 2019 Q3 2020 Q4 2020 Total liabilities/Total equity The Company’s consolidated debt to equity ratio (D/E ratio) was at 0.42 comparing to 0.86 in 2019 due to the reduction of working capital financing and better operating performance in 2020 4
Slide 8: Key Ratios and Historical Dividend
Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 2020 2019 2020 2019 25.0 25.4 24.2 21.1 18.0 19.3 17.8 15.6 15.4 13.5 12.6 11.6 10.3 7.7 8.2 6.6 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1/ Return is based on sum of last 12 months net profit 2/ Return is based on sum of last 12
Slide 9: Highlight – insurance claim
Highlight – insurance claim 2018 2019 2020 Total Key events July 2018: Fire Feb 2019: Floating May 2020: Incident at refinery’s storage unit rental • 2 new crude tanks tanks Nov 2019: operated Maintenance tanks • Insurance cover resumed to operate expiration Damaged Assets written off 289.9 - - 289.
Slide 10: 2020 Highlight – Domestic and International market
2020 Highlight – Domestic and International market Domestic Market • Strong Domestic market sales volume due to delay of the government budget disbursement from 2019 to 2020. China • The high demand in Q2-Q3 2020 created shortage of supply pushing up the retails price. India Vietnam International ma
Slide 11: Asphalt Selling Price vs. Ice Brent Price
Asphalt Selling Price vs. Ice Brent Price Unit: USD/barrel Avg. asphalt selling price Avg. Ice Brent price 80.1 74.9 76.0 71.4 70.1 67.2 68.1 65.3 68.9 71.2 67.1 64.7 62.9 60.0 61.5 71.2 57.3 68.3 52.2 63.5 63.6 63.3 63.8 54.7 50.9 52.2 62.2 62.0 62.5 51.1 57.9 47.1 55.2 45.8 46.9 53.8 51.0 43.4 45.
Slide 12: Outlook – Refinery and Domestic market
Outlook – Refinery and Domestic market • Turnaround for statutory inspection in during 15 Jan 2021 to 24 Feb 2021 Refinery • The refinery remain at high productivity level in Q1 2021 Road related budget of DOH and DOR • Sustainable Domestic growth due to strong (Unit: Bil. THB) government budget 155
Slide 13: Outlook - International
Outlook - International China Shifting from wholesale to retail • Strategic move from wholesale to retail India Vietnam due to higher alternative crude cost Low impact from Lao Covid-19 Thailand Philippines • Expected sales to improve in Indonesia and Philippines after the vaccine of Cambodia Covid-
Slide 14: Outlook – Strengthen the Domestic market through acquisition
Outlook – Strengthen the Domestic market through acquisition Procure Refine Produce Transport Customer Construction Acquisition of Thai Slurry Seal from 25% to 62.50% Pavement Specialist • The Company has benefited from integrated the 62.5% construction group as marketing arms to introduce new value
Slide 15: THANK YOU
THANK YOU Any queries, please contact: At email: investors@tipcoasphalt.com Tel: 662-273-6642 www.tipcoasphalt.com
Tipco Asphalt Public Company — FY2020 Earnings Presentation on 6ix