Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q4 2025 Earnings Presentation
37 slides from Siamgas & Petrochemicals Public's earnings presentation, 2026
Slide 1: Investor Presentation 4Q/2025
Investor Presentation SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED 4Q/2025
Slide 2: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY
Slide 3: Shareholding Structure
SHAREHOLDING STRUCTURE MAJOR SHAREHOLDERS : 55.7% (Weeraborwornpong Group) Public Shareholding 1,837.86 PUBLIC : 44.3% Foreign 31.71% Million Shares Retail 12.34% Shareholders Detail Latest book closing : On 28 AUG 2025 Thai 0.25% Rights Type : XD NVDR Free Float As of 19 Dec 2025 % Shares in Minor
Slide 4: Milestones
MILESTONES Building a Global Energy Infrastructure Network Evolving from a Domestic LPG Distributor into an International Energy Infrastructure Network 50+ Years Industry Experience 7 Countries of Operations Integrated LPG Value Chain Strategic Energy Infrastructure Assets 1976 2004-2008 2010-2013 2
Slide 5: Business Operations
BUSINESS OPERATIONS THAILAND OVERSEA LPG Distribution LPG Distribution (Singapore, China, Malaysia, Vietnam, Laos) Road Transportation Power Generation Marine Transportation • 230 MW. Combine Cycle Power Plant (Myanmar) • 10 MW. Diesel Power Plant (Myanmar) Cylinder Manufacturing Oil Trading Oil Ret
Slide 6: Business Update
BUSINESS UPDATE THAILAND OVERSEA Domestic LPG demand remained relatively stable in 4Q25, Global LPG market experienced moderate price volatility supported mainly by household and industrial consumption during the quarter, following fluctuations in crude oil prices despite a gradual decline in au
Slide 7: SGP Global Operational
SGP GLOBAL OPERATIONAL Integrated Energy Infrastructure Across Key Asian Energy Markets 50+ Years Industry Experience 7 Countries of Operations Integrated LPG Value Chain Strategic Energy Infrastructure Assets CHINA Hai Phong, Vietnam Shantou, South China CORE BUSINESS SEGMENTS Zhuhai, South China L
Slide 8: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY
Slide 9: Integrated LPG Value Chain
INTEGRATED LPG VALUE CHAIN End-to-end infrastructure enabling efficient LPG supply across Thailand Global Sourcing Import & Domestic Storage Distribution End-Use Markets Logistics Infrastructure Network LPG supply from Marine & Truck Strategic storage Nationwide LPG Household, Domestic and global tr
Slide 10: Thailand LPG Market – All Sectors
THAILAND LPG MARKET – ALL SECTORS SGP Sales volume Market Total Market Share (SGP Group) Q4/25 > 217,800 Tons +1.44% YoY Q4/25 > 955,708 Tons +0.63% YoY ~ 22.55% Stable / Slightly Up YTD > 841,692 Tons +2.29% YoY YTD > 3,732,556 Tons +0.92% YoY SGP GROUP continues to grow above overall market growth
Slide 11: Cooking Market
COOKING MARKET SGP Sales volume Market Total Market Share (SGP Group) Q4/25 > 125,129 Tons +0.87% YoY Q4/25 > 554,895 Tons +2.64% YoY ~ 22.60% Stable YTD > 481,719 Tons +1.56% YoY YTD > 2,131,112 Tons +2.04% YoY Cooking segment growth remains positive but below overall market expansion. LPG COOKING
Slide 12: Automotive Market
AUTOMOTIVE MARKET SGP Sales volume Market Total Market Share (SGP Group) Q4/25 > 45,999 Tons +4.21% YoY Q4/25 > 185,478 Tons -5.93% YoY ~ 23.29% Improving YTD > 173,333 Tons +4.21% YoY YTD > 744,152 Tons -3.02% YoY Automotive segment outperforms declining market trend. LPG AUTOMOTIVE VOLUME (Tons) –
Slide 13: Industry Market
INDUSTRY MARKET SGP Sales volume Market Total Market Share (SGP Group) Q4/25 > 35,908 Tons +1.95% YoY Q4/25 > 159,950 Tons -0.05% YoY ~ 22.04% Stable YTD > 141,811 Tons +0.12% YoY YTD > 643,432 Tons +0.35% YoY Industrial segment remains stable amid flat market conditions. LPG INDUSTRIAL VOLUME (Tons
Slide 14: M.10
M.10 SGP Sales volume Market Total Market Share (SGP Group) Q4/25 > 10,764 Tons -4.65% YoY Q4/25 > 55,385 Tons +6.63% YoY ~ 20.96% Largely stable YTD > 44,829 Tons +10.58% YoY YTD > 213,860 Tons +6.22% YoY M10 segment delivers strong YTD growth, outperforming market expansion. LPG INDUSTRIAL VOLUME
Slide 15: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY
Slide 16: Comparative Trends of Gas and Oil Prices
Comparative Trends of Gas and Oil Prices USD/TON 1000 Propane (C3) Butane (C4) LPG 790 900 720 800 630 630 635 635 635 625 625 620 600 600 605 610 610 615 615 615 610 590 590 580 580 580 700 575 790 555 555 550 520 520 740 495 495 475 470 600 450 640 640 400 630 630 630 625 620 620 620 620 615 615 6
Slide 17: Global LPG Supply Routes & Delivery Lead Time
Global LPG Supply Routes & Delivery Lead Time Strategically located infrastructure supports efficient LPG distribution across regional and international markets. 30 USA 30 1.5 8 45 5.5 Middle East Floating Storage 5 7 12 3 LPG Supply Sources 2.5 Middle East 0.75 Australia USA Floating Storage Receiv
Slide 18: Offshore Trading Business
Offshore Trading Business TRADING VOLUME QUARTERLY PERFORMANCE CUSTOMER DISTRIBUTION Annual Trading Volume (Tons) 4Q25 Trading Volume Customer base diversified across Asia -20.9% 257,987 tons West Asia 36.0% QoQ -14.3% 2025 1,068,001 Southeast Asia 33.6% +2.1% YoY -23.0% East Asia 30.4% 2024 1,351,0
Slide 19: Retail Business
Retail Business ANNUAL SALES VOLUME (TONS) QUARTERLY PERFORMANCE RETAIL BUSINESS HIGHLIGHTS 4Q25 Retail Volume • 2025 retail sales increased +17.6% 2025 1,243,881 380,584 tons 17.6% YoY to 1.24 million tons, -28.4% driven by stronger demand across QoQ +7.6% 2024 1,057,520 key markets. YoY +61.9% +6.
Slide 20: Total Overseas LPG Sales
Total Overseas LPG Sales ANNUAL SALES VOLUME (TONS) QUARTERLY PERFORMANCE OVERSEAS BUSINESS HIGHLIGHTS -4.0% 4Q25 Total LPG Volume • Total overseas LPG sales reached 2025 2,311,882 638,571 tons 2.31 million tons in 2025, -14.0% decreasing 4.0% YoY mainly due to QoQ -2.5% 2024 2,408,549 lower trading
Slide 21: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY
Slide 22: Power Plant Business
POWER PLANT BUSINESS SIAMGAS
Slide 23: Other Business: Power Plant
OTHER BUSINESS : POWER PLANT 230 MW. COMBINE CYCLE POWER PLANT 10 MW. DIESEL POWER PLANT SELL TO GOVERNMENT SELL TO HOUSEHOLD 100% of electricity generated is sold to the Government of 100% of electricity generated is supplied to villages and industrial Myanmar under a 30-year PPA (COD: 30 Apr 2014)
Slide 24: Liquid Tank Farm and Deepsea Port
LIQUID TANK FARM AND DEEPSEA PORT SIAMGAS
Slide 25: Other Business
OTHER BUSINESS TANK FARM CAPACITY OVERVIEW OVERSEA OIL TRADING Annually sale volume (barrels) TOTAL CAPACITY 345.7 Mil. Liters 819,890 626,122 TOTAL TANKS 14 Tanks 284,907 293,731 UTILIZATION (As of 31 Dec 2025) 2022 2023 2024 2025 Utilized (SGP group) 7 Utilized (Oil trader) 5 Available 2 YoY +3.1%
Slide 26: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY
Slide 27: Revenue Portion (FY2025)
REVENUE PORTION (FY2025) REVENUE BY GEOGRAPHY REVENUE BY PRODUCT 25.3% Thailand (31.8%) 74,335 Offshore (30.3%) Oversea business (35.0%) 7.1% 64.4% Million Baht Logistic (1.6%) 3.2% Other (1.3%) LPG Domestic (25.3%) LPG Oversea (64.4%) Thailand 34.8% OIL (3.2%) (Thailand LPG, Logistic & Other) Other
Slide 28: Revenue
REVENUE 2025 consolidated revenue of Bt 74,335 m shows a 12.1% YoY decline. Key Highlights : • Gas price declined from USD 608.96/ton to USD 555.63/ton. • Overseas sales volume decreased from 2.41 million tons to 2.31 million tons, representing a decline of approximately 4%. 735.63 629.17 620.00 638
Slide 29: EBITDA
EBITDA 2025 consolidated EBITDA of Bt3,143 m shows a 24.2% YoY decline. Key Highlights : • FY2025 EBITDA declined 24.2% YoY to Bt3,143 million. • EBITDA margin softened to 4.23% (vs. 4.90% last year), primarily due to lower gas prices and reduced sales volume. • Quarterly performance rebounded stron
Slide 30: Net Profit
NET PROFIT 2025 consolidated NET PROFIT of Bt +8.51 m shows a 99.4% YoY decline Key Highlights : • FY2025 net profit declined 99.4% YoY to Bt8.5m, mainly pressured by weaker market conditions. • Profitability improved significantly in Q4/2025, turning from a loss of Bt224m to a profit of Bt667m (+Bt
Slide 31: Financial Position
FINANCIAL POSITION DEBT PORTION Key Highlights 56,890 ✓ Balance sheet strengthened with 50,587 3,749 10,183 3,487 3,814 ASSET (-11.1%) LOAN (37%) liabilities reduced by 12.4% YoY, 8,041 M.Baht reflecting proactive deleveraging. 13,876 12,363 Cash & Equivalents Inventory DEBENTURE (63%) ✓ Solid capit
Slide 32: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY
Slide 33: Sale Performance vs. Outlook
SALE PERFORMANCE vs. OUTLOOK HISTORICAL SALES VOLUME (TONS) SALE PERFORMANCE 2025 & OUTLOOK 2026 Thailand Offshore Trading % compare Sales volume (TONs) 2023 2024 2025 Outlook 2026 % Growth 2024/2025 China Vietnam SGP - Thailand 812,853.54 825,538.66 869,493.99 +5.3% 910,000 4.7% Malaysia & Singapor
Slide 34: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 GLOBAL LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY
Slide 35: Dividend Payment
DIVIDEND PAYMENT DIVIDEND POLICY HISTORICAL DIVIDEND PAYMENT 2025 0.10 0.10 The Company has established the policy to pay 2024 0.15 0.20 Interim Final dividends to the shareholders at the rate of not 2023 0.10 0.15 less than 40% of the net profit after corporate 2022 0.20 0.20 income tax, accumulate
Slide 36: Q&A
Q&A
Slide 37: Contact details
02-120-9999 # 3611,3612 sgp_ir@ugp.co.th www.siamgas.com 553 The Palladium Building 30th Floor, Ratchaprarop Road, Makkasan, Ratchathewi, Bangkok 10400 Thailand.
Siamgas and Petrochemicals Public Company — Q4 2025 Earnings Presentation on 6ix