Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q2 2017 Earnings Presentation
15 slides from Tipco Asphalt Public's earnings presentation, Aug 16, 2017
Slide 1: Tipco Asphalt Public Company Limited (TASCO) 3-2017 Analyst meeting
Tipco Asphalt Public Company Limited (TASCO) 3-2017 Analyst meeting 16th August 2017 บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited
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 Q2 2017 financial Performance 2 Q2 2017 Highlights 3 Q3 2017 Outlook 4 Q&A บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 2
Slide 4: Q2 2017 Financial Performance: Sales & Services Revenue vs. Sales Volume
Q2 2017 Financial Performance : Sales & Services Revenue vs. Sales Volume Sales & Services Revenue • Sales and services stood at Baht 8,211 Unit: Mil. THB million, reflecting an increase of 49.31% 8,350 8,211 from the same period of last year. 6,604 7,141 • Domestic and international selling price 5
Slide 5: Q2 2017 Financial Performance: Operating Gross Profit
Q2 2017 Financial Performance : Operating Gross Profit Operating Gross Profit • Cost of sales and services in the 2nd Unit: Mil. THB quarter 2017 stood at Baht 7,405 million or 90.18% (79.16% in corresponding quarter 1,641 1,594 1,571 in 2016) of sales and services before the allowance for diminutio
Slide 6: Q2 2017 Financial Performance: EBITDA & Net Profit
Q2 2017 Financial Performance : EBITDA & Net Profit EBITDA Unit: Mil. THB • The Group cash flow generated from 2,286 operations stood at Baht 850.41 million 1,811 compared to Baht 734.38 million in 1,233 corresponding period in 2016. This cash 850 735 flow reflects a robust cash generation 474 from
Slide 7: Q2 2017 Financial Performance: Debt to Equity Ratio
Q2 2017 Financial Performance : Debt to Equity Ratio Debt/Equity Ratio 0.55 0.60 0.47 0.15 0.06 0.06 Q2 2016 Q1 2017 Q2 2017 Total debt/Total equity LT debt/Total equity • The Group’s consolidated debt to equity ratio (D/E ratio) remained low at 0.47 comparing to 0.55 in corresponding period due to
Slide 8: Financial Performance: Key Ratios and Historical Dividend
Q2 2017 Financial Performance : Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 56.1 40.6 46.1 33.8 33.1 25.9 25.9 27.7 21.4 23.4 20.0 19.5 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 mont
Slide 9: Q2 2017 Highlights
Q2 2017 Highlights Crude • Average Brent price went down from USD 53.53 per barrel on 31 March 2017 to USD 48.77 per barrel 30 June 2017. • This resulted in hedging “mark to market loss” and a small provision of NRV. Refinery • High reliability at 99.8% • Production stoppage due to delay of loading
Slide 10: Highlights: Domestic and International Market
Q2 2017 Highlights: Domestic and International Market Domestic Market • Domestic selling price reduced due to the market price adjustment from the exceptional price hike during Q1 2017 • Exceptional demand experienced in Q1 2017 has returned to normal level after the Songkran holidays. International
Slide 11: Highlights: Asphalt Selling Price vs Ice Brent
Q2 2017 Highlights: Asphalt Selling Price vs Ice Brent Unit: USD/barrel 120.0 109.7 Avg. asphalt selling price Avg. Ice Brent 103.4 100.0 89.5 94.2 80.1 80.0 90.9 70.1 77.1 60.0 57.3 60.0 51.1 54.7 63.5 45.8 46.9 47.1 50.9 55.2 51.2 53.8 40.0 45.3 44.7 38.0 37.4 38.5 34.7 20.0 0.0 Q2 Q3 Q4 Q1 Q2 Q3
Slide 12: Highlights: Asphalt Volume & Asphalt Revenue Structure
Q2 2017 Highlights : Asphalt Volume & Asphalt Revenue Structure Asphalt sales volume concentration by market Unit: % Main International Markets Domestic International 0.53 0.44 0.60 Mil tons Mil tons Mil tons China 71% 72% 83% Indonesia 29% 28% 17% Q1 2017 Q2 2016 Q2 2017 Asphalt Revenue (Exc. Non a
Slide 13: Q3 2017 Outlook – Refinery and Marine
Q3 2017 Outlook – Refinery and Marine Crude • Long-term crude supply agreement until 2020 • The political in Venezuela is uncertain, but has no impact yet Refinery • The Group continued to enjoy high efficiency in fuel consumption and production cost • Maintain high reliability at 99.8% Marine • Big
Slide 14: Q3 2017 Outlook – Domestic & international market
Q3 2017 Outlook – Domestic & international market Domestic Market • Thailand Government Budget begins on 1 October, ending 30 September • 2018 road construction and maintenance budget is similar to 2017 budget and expected to be disbursed 1 October 2017 onwards International Market • JV company in S
Slide 15: Q&A
Q&A บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 14
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