Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q3 2018 Earnings Presentation
16 slides from Tipco Asphalt Public's earnings presentation, Nov 30, 2018
Slide 1: 4/2018 Opportunity Day (Q3/2018 Operational Result)
Tipco Asphalt Public Company Limited (TASCO) 4/2018 Opportunity Day (Q3/2018 Operational Result) 30th November 2018
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 2018 Financial Performance 2 Q3 2018 Highlights 3 Q4 2018 Outlook 4 Q&A
Slide 4: Financial Performance: Sales & Services Revenue & Sales Volume
Q3 2018 Financial Performance : Sales & Services Revenue & Sales Volume Sales & Services Revenue Unit: Mil. THB • Sales and services stood at Baht 7,032 million, reflecting an 28,260 increase of 36.2% from the same period of last year • This increase was mainly attributable to the increase of sellin
Slide 5: Financial Performance: Operating Gross Profit
Q3 2018 Financial Performance : Operating Gross Profit Operating Gross Profit • Cost of sales and services in the 3rd quarter 2018 Unit: Mil. THB stood at Baht 6,160 million or 87.6% (88.0% in 3,478 corresponding quarter in 2017) of sales and services before the allowance for diminution in value of
Slide 6: Financial Performance: EBITDA & Net Profit
Q3 2018 Financial Performance : EBITDA & Net Profit EBITDA • The Group’s cashflow generated from operations stood at Unit: Mil. THB Baht 538 million compared to Baht 730 million in 4,514 corresponding period in 2017 due to the higher operating 1,811 cost arising from the fire incident and decrease i
Slide 7: Financial Performance: Debt to Equity Ratio
Q3 2018 Financial Performance : Debt to Equity Ratio Debt/Equity Ratio 0.91 0.51 0.68 0.05 0.03 0.02 Q3 2017 Q2 2018 Q3 2018 Total liabilities/Total equity LT debt/Total equity • The Group’s consolidated debt to equity ratio (D/E ratio) remained low at 0.91 comparing to 0.51 in corresponding period
Slide 8: Financial Performance: Key Ratios and Historical Dividend
Q3 2018 Financial Performance : Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 2018 2017 2018 2017 25.9 23.4 24.3 20.0 19.5 19.9 20.3 15.6 12.3 11.2 9.1 8.5 6.2 8.1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1/ Return is based on sum of last 12 months net profit 2/ Return is ba
Slide 9: Q3 2018 - Refinery
Q3 2018 - Refinery Crude Storage • On 4th September 2018, all crude tanks were cleared after integrity test except for 3 tanks damaged by fire • In additions, there is 1 crude tank taken out for routine maintenance • Currently, 4 out of 8 tanks are available which accounts for capacity of 1,316,380
Slide 10: Q3 2018 - Highlights
Q3 2018 - Highlights Crude • 3 crude cargoes have been received during the Q3 in accordance with the Crude Supply contract Domestic Market • Q3 2018 sales volume remain strong despite end of 2018 government budget • In addition, average selling price increased in with crude price • Competition is st
Slide 11: Q3 2018 Recognitions
Q3 2018 Recognitions 1 TASCO achieved 5-Star for Corporate Governance Report of Thai Listed Companies 2018 (CGR) 2 TASCO was qualified in Thailand Sustainability Investment (THSI) 3 Fitch reaffirmed TASCO at 'A-(tha)'/Stable (until December 2018)
Slide 12: Asphalt Selling Price vs. Ice Brent Price
Asphalt Selling Price vs. Ice Brent Price Unit: USD/barrel 120.0 Avg. asphalt selling price Avg. Ice Brent price 103.4 100.0 89.5 80.1 80.0 90.9 70.1 74.9 76.0 67.2 77.1 60.0 57.3 61.5 60.0 50.9 52.2 71.2 63.5 45.8 46.9 47.1 51.1 54.7 62.2 63.6 55.2 53.8 57.9 40.0 51.2 45.3 48.2 44.7 38.0 37.4 38.5
Slide 13: Highlights: Asphalt Volume & Asphalt Revenue Structure
Highlights : Asphalt Volume & Asphalt Revenue Structure Asphalt sales volume by market Unit: % Main International Markets Domestic International 0.37 0.34 0.38 China Mil tons Mil tons Mil tons 74% 72% 76% 26% 28% 24% Vietnam Q3 2017 Q2 2018 Q3 2018 Asphalt Revenue (Exc. Non asphalt & service income)
Slide 14: Q4 2018 Outlook – Crude & Refinery
Q4 2018 Outlook – Crude & Refinery Crude • Confirmed another 3 cargoes for Q4 • Total 9 crude cargos in 2018 Refinery • Refinery has been running as normal • Awaiting insurer to complete their investigation in December 2018 • Contracts to rebuild and repair the fire damaged 3 tanks have been awarded
Slide 15: Q4 2018 Outlook – Domestic & International market
Q4 2018 Outlook – Domestic & International market Domestic Market • Q4 sales will benefit from high 2019 government budget disbursement • However, potential price reduction is expected due to strong competition International Market • International market sales continually remain strong due to the av
Slide 16: Thank You
THANK YOU www.tipcoasphalt.com
Tipco Asphalt Public Company — Q3 2018 Earnings Presentation on 6ix