Prima Marine Public Company Ltd · SET:PRM
Prima Marine Public — Q1 2019 Earnings Presentation
17 slides from Prima Marine Public's earnings presentation, May 23, 2019
Slide 1: Operating Results Q1/2019
Operating Results Q1/2019 23 May 2019 0
Slide 2: Content
CONTENT 1 Q 1 / 2 0 1 9 Operating Results 2 Market Outlook 1
Slide 3: Q1/2019 Operating Results
1 Q1/2019 Operating Results 2
Slide 4: Domestic Oil and Petrochemical Tanker Business (Domestic Trading)
Domestic Oil and Petrochemical Tanker Business (“Domestic Trading”) Revenue Unit: MTHB ▪ National oil consumption continued to grow mainly from increase in automobile registrations and car owners gradually switching from using LPG to gasoline. 69 50.7% 64 65 Unit: Million Liters/Day 531.9 548.8 2017
Slide 5: International Oil and Petrochemical Tanker Business (International Trading)
International Oil and Petrochemical Tanker Business (“International Trading”) Revenue Unit: MTHB ▪ Global freight rate started to rebound since October 2018 and is expected to continue in 2019 due to the effect of the decline of available freight capacity following scrapping of number of old vessels
Slide 6: Floating Storage Unit (FSU) Business
Floating Storage Unit (“FSU”) Business Revenue Unit: MTHB ▪ FSU demand rebounded since December 2018 as international oil traders see opportunity to store and blend fuel oil to meet IMO -12.3% requirement on 0.5% bunker starting 2020. 498.9 ▪ As PRM chartered an FSU to an oil refinery and trading co
Slide 7: Floating Storage and Offshore Exploration Service (Offshore) Business
Floating Storage and Offshore Exploration Service (“Offshore”) Business Revenue Unit: MTHB ▪ 2 floating storage and off-loading vessels (FSO) continued on hired throughout Q1/19 under time charter contract. 40.8% ▪ The demand for Accommodation Work Barge (AWB) 130.9 increased in line with E&P licens
Slide 8: Ship Management (SM) Business
Ship Management (“SM”) Business Revenue Unit: MTHB ▪ PRM provides ship management services for 25 vessels of which 22 are owned vessels and 3 are third party vessels. -13.4% i.e. 2 VLCC vessels and 1 Aframax vessel. ▪ Lower revenue in Q1/19 VS Q4/18 was mainly from 97.0 89.1 84.0 expiration of the c
Slide 9: Consolidated P/L Statement
Consolidated P/L Statement Unit: MTHB Q4/2018 Q1/2018 Q1/2019 ▪ Other incomes increased by 2.6 million Baht primarily from demurrage charge and interest 1 Sales 1,159.2 1,018.5 1,188.7 received. 2 Gross Profit 252.3 240.8 344.4 ▪ Selling general and administrative expense 3 Share of P/L fr Assoc. 52
Slide 10: Consolidated Financial Position
Consolidated Financial Position As of As of 31 Dec 2018 31 Mar 2019 ▪ Non current assets increased by 1,578.8 million 535.1 825.8 1,744.5 Baht compared to 31 December 2018 from 1,286.1 1,546.8 57.1 acquisition of two VLCC vessels and one 549.7 54.1 domestic oil tanker with the size of 5,300 DWT. 2,7
Slide 11: Market Outlook
2 Market Outlook 10
Slide 12: All Business Potentially Grows
Strategies Supporting Investment in PRM 2019 2 International Oil & Petrochemical Tanker Business ▪ Positive sign of international freight “All Business ▪ Flexibility of contract changing ▪ Closely follow the market situation to see the investment Potentially Grows” opportunities 1 Domestic Oil & Pet
Slide 13: IMO2020 impact to Singapore bunkering hub: storing LSFO and HSFO
Market Outlook IMO2020 impact to the world biggest bunkering hub; Singapore, to store both LSFO and HSFO LSFO ▪ The gap price between LSFO and HSFO is quite broad, approximately 30% of variance. ▪ Operators started to operate LSFO. ▪ FSU is a customers’ strategic opportunity to increase volume for t
Slide 14: Investment Plan 2019
Investment Plan 2019 No. Delivered Vessels Size (DWT) Purpose Commence Period On-hired Domestic Trading Business (6 Vessels) 1 Jan/19 New-built 3,000 DWT LT Contract with Major Oil Mar/19 “SRI SURAT” 2 Feb/19 New-built 5,300 DWT Big Sea’s contract with Major Oil Apr/19 “BIG SEA 106” 3 Apr/19 New-bui
Slide 15: Investment Plan 2019
Investment Plan 2019 No. Delivered Vessels Size (DWT) Purpose Commence Period On-hired Floating Storage and Unit Business (2 Vessels) 8 Mar/19 1 Second Hand 300,000 DWT Additional business with an international oil May/19 VLCC trader for fuel oil storage and blending “AQUARIUS STAR” 9 Mar/19 1 Secon
Slide 16: Q&A Thank You
Q&A THANK YOU Contact Information Mr. Boonrux Leeprakobboon Mr. Pachara Rodsomboon www.primamarine.co.th Senior Investor Relations Manager Finance Manager Investor Relations Department Accounting and Finance Department primamarine Tel (66) 2 016 0190 Ext 517 Tel (66) 2 016 0190 Ext 601 Prima Marine
Slide 17: Disclaimer
Disclaimer The information contained in this presentation is strictly confidential and is provided by Prima Marine Public Company Limited (the "Company") to you solely for your information. Neither this presentation nor any part hereof may be (i) used or relied upon by any other party or for any oth
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