Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q1 2016 Earnings Presentation
16 slides from Tipco Asphalt Public's earnings presentation, May 16, 2016
Slide 1: Tipco Asphalt Public Company Limited (TASCO) Q1 2016 Opportunity Day
Tipco Asphalt Public Company Limited (TASCO) Q1 2016 Opportunity Day 16th May 2016 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 Q1 2016 Financial performance 2 Q1 2016 Highlight 3 Q2 2016 Outlook บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 2
Slide 4: Financial Performance: Sales & Services Revenue vs. Sales Volume
Q1 2016 Financial Performance : Sales & Services Revenue vs. Sales Volume Sales & Services Revenue Unit: Mil. Baht • Sales and services stood at Baht 6,604 10,487 8,264 9,290 9,096 million, reflecting a decrease of 20% from 6,604 the same period of last year. • This decrease was mainly attributable
Slide 5: Financial Performance: Operating Gross Profit
Q1 2016 Financial Performance : Operating Gross Profit Operating Gross Profit • Cost of sales and services in the 1st quarter Unit: Mil. THB 2016 stood at Baht 5,211 million or 78.90% 2,055 1,969 (85.34% for corresponding quarter in 2015) 1,908 of sales and services before allowance for 1,657 diminu
Slide 6: Financial Performance: EBITDA & Net Profit
Q1 2016 Financial Performance : EBITDA & Net Profit EBITDA Unit: Mil. THB • Group cashflow generated from operations 2,286 improved significantly to Baht 2,286 million 1,902 1,796 compared to Baht 1,346 million in 1,346 1,331 corresponding period in 2015. The main increase was from the unrealised he
Slide 7: Financial Performance: Debt to Equity Ratio
Q1 2016 Financial Performance : Debt to Equity Ratio Debt/ Equity Ratio Total debt/Total equity LT Debt/ Total equity 0.97 0.97 0.71 0.60 0.60 0.42 0.36 0.20 0.26 0.23 Q1 2016 Q1 2015 Q2 2015 Q3 2015 Q4 2015 • Group consolidated debt to equity ratio (D/E ratio) remained at 0.60, lower than D/E ratio
Slide 8: Financial Performance: Key Ratios and Historical Dividend
Q1 2016 Financial Performance : Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 62.4 40.6 40.8 56.1 58.7 50.3 31.8 23.9 34.0 15.2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2015 2016 2015 1/ Return is based on sum of last 12 months net profit 1/ Return is based on profit be
Slide 9: Highlights
Q1 2016 Highlights Crude • Brent price increased from USD36 from January to USD40 per barrel at the end of March Refinery • High refining utilization and 99.8% reliability • Import asphalt from KBC refinery to serve Thailand market Marine • 9 owned and 3 long term chartered-in asphalt vessels • Tota
Slide 10: Highlights: Domestic and International Market
Q1 2016 Highlights: Domestic and International Market Domestic Market • 12% sales volume growth compared to Q1 2015 was due to strong domestic demand • Healthy gross profit margin was driven by high margin PMA and Asphalt Emulsion sales International Market • 53% sales volume growth as compared with
Slide 11: Highlights: Acquisition of Hermes Update
Q1 2016 Highlights: Acquisition of Hermes Update • This acquisition was approved by shareholders in the EGM held on 5th January 2016 • The company managed to complete the acquisition for Raycol, HR Group, and ABS on the 12th January 2016, 25th February 2016, and 28th March 2016, respectively • The p
Slide 12: Highlights: Asphalt Selling Price vs Ice Brent
Q1 2016 Highlights: Asphalt Selling Price vs Ice Brent Unit: USD/barrel 120.0 107.9 109.7 Avg. asphalt selling price Avg. Ice Brent 103.4 100.0 89.5 99.7 94.2 90.9 80.1 80.0 70.1 77.1 60.0 57.3 60.0 63.5 45.8 55.2 40.0 51.2 44.7 34.7 20.0 0.0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q
Slide 13: Highlights: Total Sales Volume by Market
Q1 2016 Highlights : Total Sales Volume by Market Sales volume concentration by market Unit: % Domestic International 0.60 0.43 0.66 0.60 0.60 Mil tons Mil tons Mil tons Mil tons Mil tons 71% 64% 85% 83% 84% 29% 36% 15% 17% 16% Q1 2016 Q1 2015 Q2 2015 Q3 2015 Q4 2015 • Domestic played important role
Slide 14: Highlights: Asphalt Volume & Asphalt Revenue Structure
Q1 2016 Highlights : Asphalt Volume & Asphalt Revenue Structure Asphalt sales volume concentration by market Main International Markets Unit: % Domestic International 0.60 0.43 0.66 0.60 0.60 China Mil tons Mil tons Mil tons Mil tons Mil tons 71% 64% 85% 83% 84% Australia 29% 36% 15% 17% 16% Q1 2016
Slide 15: Q2 2016 Outlook
Q2 2016 Outlook Refinery: Maintain high reliability at 99.8% Marine: Full utilization of 9 owned and 3 chartered-in asphalt vessels Domestic: Fiscal budget allocation still continue for special products such as Para AC and Para AE International: • China demand will pick up due to working season • Ex
Slide 16: Q&A
Q&A บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 15
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