Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q3 2019 Earnings Presentation
15 slides from Tipco Asphalt Public's earnings presentation, Nov 13, 2019
Slide 1: Tipco Asphalt Public Company Limited (TASCO) 4-2019 Opportunity Day (Q3 2019)
Tipco Asphalt Public Company Limited (TASCO) 4-2019 Opportunity day (Q3 2019 Operational Results) 13th November 2019
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 1 Q3 2019 Financial Performance 2 Q3 2019 Highlights 3 Outlook 4 Q&A
Slide 4: Sales & Services Revenue & Sales Volume
Sales & Services Revenue & Sales Volume Sales & Services Revenue Unit: Mil. THB 27,632 • Sales and services stood at Baht 9,449.3 million, reflecting an increase of 34.38% from the corresponding period of 2018 10,784 9,449 9,571 attributed to consistent asphalt demand from Q2 2019 7,091 5,263 5,766
Slide 5: Operating Gross Profit
Operating Gross Profit Operating Gross Profit Unit: Mil. THB • Gross profit in Q3 2019 increased to Baht 1,076 million 2,364 compared to Baht 808 million in corresponding period Q3 2018 due to increase in sales volume and a hedging gain of Baht 1,168 1,076 140.4 million in this quarter attributable
Slide 6: EBITDA & Net Profit
EBITDA & Net Profit EBITDA Unit: Mil. THB 2019 2018 2,457 • The Group’s cashflow generated from operations stood at Baht 938.7 million compared to Baht 537.7 million in corresponding 1,195 1,169 588 939 period in 2018 due to the better operation performance in Q3 474 538 162 2019 as compared to corr
Slide 7: Debt to Equity Ratio
Debt to Equity Ratio Debt/Equity Ratio 1.13 0.91 0.95 0.02 0.004 0.004 Q3 2018 Q2 2019 Q3 2019 Total liabilities/Total equity LT debt/Total equity • The Group’s consolidated debt to equity ratio (D/E ratio) reached 0.95 comparing to 0.91 in corresponding period of 2018 due to increase in working cap
Slide 8: Key Ratios and Historical Dividend
Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 2019 2018 2019 2018 13.5 21.1 9.1 10.3 15.4 8.5 12.3 11.2 6.6 6.2 7.7 8.1 4.5 4.5 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 months net pro
Slide 9: Expense relating to fire incident and insurance claim
Expense relating to fire incident and insurance claim • In May 2019, the subsidiary received a partial payment pursuant to its insurance claim to MYR 60 million or approximately Baht 450 million • During the nine-month period ended 30 September 2019, the subsidiary had recorded additional net other
Slide 10: Status of crude storage of KBC refinery
Status of crude storage of KBC refinery Refinery crude storage Floating Storage Unit 2 repaired tanks 2 damaged tanks • 2 repaired tanks will resume normal operation in late-Nov 2019 • Rental period from mid-February 2019 to • New construction of 2 damaged tanks are underway according February 2020
Slide 11: Q3 2019 - Highlights
Q3 2019 - Highlights Refinery • Refinery was processing at high reliability rate • New construction and repair of crude storage tanks are underway according to plan Domestic Market • Despite low working season, Q3 2019 sales volume stood at 105,000 tons slightly below 4% from Q2 2019 • Government is
Slide 12: Asphalt Selling Price vs. Ice Brent Price
Asphalt Selling Price vs. Ice Brent Price Unit: USD/barrel 90.0 Avg. asphalt selling price Avg. Ice Brent price 80.1 80.0 74.9 76.0 70.1 71.4 68.9 67.2 68.1 65.3 70.0 61.5 71.2 60.0 57.3 60.0 63.6 68.3 63.5 54.7 50.9 52.2 62.2 63.3 63.8 62.0 50.0 55.2 45.8 46.9 47.1 51.1 57.9 51.2 53.8 40.0 45.3 48.
Slide 13: Highlights: Asphalt Volume & Asphalt Revenue Structure
Highlights : Asphalt Volume & Asphalt Revenue Structure Asphalt sales volume by market Main International Markets Unit: % Domestic International Q3 2018 Q2 2019 Q3 2019 China 76% 83% 83% 24% Indonesia 17% 17% Million tons Q30.38 2018 Q20.65 2019 Q30.62 2019 Asphalt Revenue (Exc. Non asphalt & servic
Slide 14: Outlook
Outlook Refinery • 2 repaired tanks will be resumed operation in Q4 2019 • Renewal of Floating Storage Unit until Feb 2020 • 2 new tanks construction will be scheduled to be completed in Q1 2020 Domestic Market • 2020 fiscal government budget delay from Q4 2019 to Q1 2020 International Market • Peak
Slide 15: THANK YOU
THANK YOU www.tipcoasphalt.com
Tipco Asphalt Public Company — Q3 2019 Earnings Presentation on 6ix