Kunlun Energy Co. Ltd. · HKEX:135
Kunlun Energy — H1 2019 Earnings Presentation
30 slides from Kunlun Energy's earnings presentation, August 2019
Slide 1: 2019 Interim Results Company Presentation
2019 Interim Results Company Presentation August 2019 1
Slide 2: Contents
目 Contents 录 1 Chairman Speech 2 Financial Highlights 3 Business Review & Outlook
Slide 3: Business Highlights
昆 侖 能 源 KunLun Energy Business Highlights Synergistic Effects Gradually Manifest Steady Growth in Financial Results Total Sales Volume of Natural Gas12.6bcm Total Revenue RMB 53.54 bn 1 1 Year-on-year growth 20.3% Year-on-year growth 8.0% Volume of LNG Processing & Terminal 10.44bcm Profit Before In
Slide 4: High-Quality & Steady Development
昆 侖 能 源 High-Quality & Steady Development KunLun Energy Focusing on development Deepening reform and of core business improving quality & efficiency To enhance the natural gas To enhance development drive value chains and vitality Expanding openness and Reinforcing the foundation partnership for dev
Slide 5: Contents
目 Contents 录 1 Chairman Speech 2 Financial Highlights 3 Business Review & Outlook
Slide 6: Income Statement
昆 侖 能 源 KunLun Energy Income Statement （RMB 100 mn） 2019/06/30 2018/06/30 Change Revenue 535.4 495.9 8.0% Profit before Income Tax 76.7 72.3 6.1% Expense Profit Attributable to Owners 31.4 30.9 1.6% of The Company EBITDA 111.8 107.6 3.9% Basic EPS (RMB cents/share) 38.9 38.3 1.6% 6
Slide 7: Revenue Breakdown
昆 侖 能 源 KunLun Energy Revenue Breakdown RMB 100mn （RMB 100 mn） 2019/06/30 2018/06/30 Change 8.0% Total Revenue 535.4 495.9 8.0% 1.9% 1.9% 10.2% 9.7% 6.5% 7.3% Gas Sales 434.1 403.8 7.5% Natural Gas Sales 307.7 261.3 17.8% Connection Fee 14.2 11.9 19.3% 81.4% 81.1% LPG Sales 112.2 130.6 (14.1%) LNG P
Slide 8: Dollar Margin Analysis
昆 侖 能 源 KunLun Energy Dollar Margin Analysis （RMB 100 mn） 2019/06/30 2018/06/30 Change Average Gas Tariff 2.54 2.43 0.11 Average Cost 2.02 1.87 0.15 Weighted Average Dollar 0.52 0.56 (0.04) Margin ( RMB/m3) The decrease in the dollar margin is due to: The upstream price increase pushed up the purcha
Slide 9: Profit Before Income Tax Breakdown
昆 侖 能 源 KunLun Energy Profit Before Income Tax Breakdown RMB 100 mn 6.1% （RMB 100 mn） 2019/06/30 2018/06/30 Change 8.2% 9.0% 39.6% Gas Sales 23.8 23.3 2.1% 37.0% 23.0% 22.6% LNG Processing and Terminal 18.2 17.3 5.2% 31.0% 29.6% Natural Gas Pipeline 31.9 27.8 14.7% 1H 2018 1H 2019 Exploration & Prod
Slide 10: Profit Before Income Tax Analysis
昆 侖 能 源 KunLun Energy Profit Before Income Tax Analysis 23.8 18.2 31.9 6.6 10
Slide 11: Balance Sheet
昆 侖 能 源 KunLun Energy Balance Sheet （RMB 100 mn） 2019/06/30 2018/12/31 Change Total Asset 1396.0 1405.9 (0.7%) Bank Balance and Cash 178.5 204.7 (12.8%) Total Interest Liabilities 366.6 387.4 (5.4%) -- Current Liabilities 122.4 105.3 16.2% -- Non-current Liabilities 244.2 282.1 (13.4%) Equities 441.
Slide 12: Debt Structure
昆 侖 能 源 KunLun Energy Debt Structure Debt Currency Long & Short Term （RMB 100 mn） Amount Structure （RMB 100 mn） Amount Debt Structure Less than 1 year 87.0 14.9% 0.3% RMB 199.9 Less than RMB 16.7% 26.6% 1 year 1-2 years 1-2 years 8.6 USD USD 77.0 2.6% 23.6% 61.2% HKD 2-5 years 2-5 years 176.4 Others
Slide 13: Cash Flow
昆 侖 能 源 KunLun Energy Cash Flow Operating Cash Flow Free Cash Flow RMB 100 mn RMB 100 mn 75.3 75.6 57.8 34.6 23.8 -3.5 1H 2017 1H 2018 1H 2019 1H 2017 1H 2018 1H 2019 1H 2017 1H 2018 1H 2019 1H 2017 1H 2018 1H 2019 13
Slide 14: CAPEX
昆 侖 能 源 KunLun Energy CAPEX RMB 100 mn 51.8 42.0 16.3 Investment in the pressure pumping 8.2 project of Shaanxi-Beijing pipelines 4.9 and its related connected lines 35.5 28.9 Fully develop natural gas business through more investment in natural 1H 2018 1H 2019 gas projects LNG Processing and Te
Slide 15: Contents
目 Contents 录 1 Chairman Speech 2 Financial Highlights 3 Business Review & Outlook
Slide 16: Part One: Gas Sales
PART ONE Gas Sales City Gas、CNG、LNG、LPG 16
Slide 17: National Layout
昆 侖 能 源 KunLun Energy National Layout Natural Gas business: 31 provinces, autonomous regions and municipalities City Gas Projects: 340 Entering Provincial capital cities such as Harbin, Kunming and Lanzhou Prefecture-level cities such as Changde, Daqing and Suqian Put in Operation CNG stations and L
Slide 18: Natural Gas Sales Volume
昆 侖 能 源 KunLun Energy Natural Gas Sales Volume bcm Natural Gas Sales Volume Breakdown （bcm） 2019/06/30 2018/06/30 Change 20.3% 1.3% Natural Gas 12.60 10.47 20.3% 10.9% 3.0% 16.4% City Gas 9.00 7.19 25.2% 11.8% 16.5% LNG 2.06 1.73 19.1% 71.4% CNG 1.37 1.24 10.5% 68.7% Others 0.17 0.31 (45.2%) 1H 2018
Slide 19: City Gas Sales Volume
昆 侖 能 源 KunLun Energy City Gas Sales Volume bcm City Gas Sales Volume (bcm) 2019/06/30 2018/06/30 Change Breakdown 25.2% City Gas 9.00 7.19 25.2% 30.0% Industrial Users 3.86 3.02 27.0% 27.8% 13.3% 13.7% 13.5% Commercial Users 1.21 1.24 (2.4%) 17.3% 42.9% Residential Users 1.20 0.99 21.2% 42.0% Distr
Slide 20: Customer Base
昆 侖 能 源 KunLun Energy Customer Base 2019/06/30 2018/12/31 2019/06/30 Accumulated Accumulated Change New Users Users Users Total 327 thousand 10,138 thousand 9,811 thousand 3.3% Residential Users 324 thousand 10,085 thousand 9,761 thousand 3.3% Industrial Users 245 5,247 5,002 4.9% Commercial Users 2
Slide 21: LPG Sales Volume
昆 侖 能 源 KunLun Energy LPG Sales Volume 10,000 tonnes LPG LPG Sales Volume Upstream Midstream Downstream End Users Vaule Chain Breakdown LPG Import Depot Bottling Stations Chemical 348.3 PetroChina Logistics LPG Stations Enterprises Industrial Users 311.8 Domestic Distribution Oth
Slide 22: Part Two: LNG Processing & Terminal
PART TWO LNG Processing & Terminal LNG Terminals、LNG Plants 22
Slide 23: LNG Terminals
昆 侖 能 源 KunLun Energy LNG Terminals bcm Gasification & Entrucking Dalian Volume of LNG terminals 6 mn tonnes/year 12.0% 11.7% Jingtang 6.5 mn tonnes/year Jiangsu 6.5 mn tonnes/years 88.0% 88.3% （bcm） 2019/06/30 2018/06/30 Change LNG Terminal 9.45 9.44 0.1% LNG Gasification Volume 8.34 8.31 0.4% LNG
Slide 24: LNG Plants
昆 侖 能 源 KunLun Energy LNG Plants bcm Processing Volume 2019/06/30 2018/06/30 Change of LNG Plants 61.0% 0.99 LNG Processing Volume 0.99 0.62 61.0% （bcm） 0.62 Number of LNG Plants in 12 12 - Operation Average Utilization Rate 43.9% 23.0% 20.9ppt 1H 2018 1H 2019 1H 2018 1H 2019 Adjusted the manageme
Slide 25: Part Three: Natural Gas Pipeline
PART THREE Natural Gas Pipeline Shaanxi-Beijing Pipelines、Other Pipelines 25
Slide 26: Natural Gas Pipeline
昆 侖 能 源 KunLun Energy Natural Gas Pipeline Map: Shaanxi-Beijing Pipelines Transmission Volume of Gas Pipeline bcm 7.6% 28.27 26.27 1.81 1.64 26.46 24.63 1H 2018 1H 2019 Shaanxi-Beijing Pipeline Other Pipeline （bcm） 2019/06/30 2018/06/30 Change Transmission Volume of Gas Pipeline 28.27 26.27 7.6% Sha
Slide 27: Part Four: Exploration & Production
PART FOUR Exploration & Production Crude Oil Exploration & Production 27
Slide 28: Exploration & Production
昆 侖 能 源 KunLun Energy Exploration & Production Distribution of Projects Sales Volume of Crude Oil 10,000Barrels 3% Kazakhstan Liaohe 680.4 Azerbaijan 660.6 Oman Thailand Petu 1H 2018 1H 2019 2019/06/30 2018/06/30 Change Sales Volume of Crude Oil 680.4 660.6 3% （10,000 Barrels) ASP of Crude Oil (USD/
Slide 29: Business Outlook
昆 侖 能 源 KunLun Energy Business Outlook 01 Exploiting Markets to achieve a homogeneous increase in quantity & effect of natural gas terminal retail business 02 Accelerating the construction of strategic and key branch pipeline 03 Continuing to promote the integrated implementation of LNG business 04
Slide 30: Disclaimer
昆 侖 能 源 KunLun Energy Disclaimer This presentation of Kunlun Energy includes historical facts and forward-looking statements. Forward-looking statements are based on assumptions and expectations, management experience, assessments and observations on historical trends, current conditions, predictabl
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