Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q3 2017 Earnings Presentation
16 slides from Tipco Asphalt Public's earnings presentation, Nov 15, 2017
Slide 1: Tipco Asphalt Public Company Limited (TASCO) 4-2017 Analyst meeting
Tipco Asphalt Public Company Limited (TASCO) 4-2017 Analyst meeting 15th November 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 Q3 2017 financial Performance 2 Q3 2017 Highlights 3 Q4 2017 Outlook 4 Q&A บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 2
Slide 4: Q3 2017 Financial Performance: Sales & Services Revenue vs. Sales Volume
Q3 2017 Financial Performance : Sales & Services Revenue vs. Sales Volume Sales & Services Revenue • Sales and services stood at Baht 5,164 Unit: Mil. THB million, reflecting an increase of 7.74% 8,350 8,212 from the same period of last year, was 6,604 7,141 mainly attributable to the increase of 5,
Slide 5: Q3 2017 Financial Performance: Operating Gross Profit
Q3 2017 Financial Performance : Operating Gross Profit Operating Gross Profit • Cost of sales and services in the 3rd quarter Unit: Mil. THB 2017 stood at Baht 4,543 million or 87.97% (91.30% in corresponding quarter 1,641 1,594 in 2016) of sales and services before the 1,571 allowance for diminutio
Slide 6: Q3 2017 Financial Performance: EBITDA & Net Profit
Q3 2017 Financial Performance : EBITDA & Net Profit EBITDA Unit: Mil. THB • The Group’s cashflow generated from 2,286 operations stood at Baht 730 million 1,811 compared to Baht 474 million in 1,233 corresponding period in 2016. This 850 735 cashflow reflects robust cash generation 730 474 ability f
Slide 7: Q3 2017 Financial Performance: Debt to Equity Ratio
Q3 2017 Financial Performance : Debt to Equity Ratio Debt/Equity Ratio 0.56 0.51 0.47 0.13 0.06 0.05 Q3 2016 Q2 2017 Q3 2017 Total liabilities/Total equity LT debt/Total equity • The Group’s consolidated debt to equity ratio (D/E ratio) remained low at 0.51 comparing to 0.56 in corresponding period
Slide 8: Financial Performance: Key Ratios and Historical Dividend
Q3 2017 Financial Performance : Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 2017 2016 2017 2016 56.1 46.1 40.6 33.8 33.1 25.9 25.9 24.3 27.7 20.0 19.9 21.4 23.4 19.5 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1/ Return is based on sum of last 12 months net profit 2/ Return i
Slide 9: Fitch Rating: Key rating drivers
Fitch Rating National long term : A- (tha), since 2015 National short term : F2 (tha) Key rating drivers • Strong credit Metrics • Strong market position • Geographical diversification • Narrowing profit margin • Exposure to volatile oil บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Comp
Slide 10: Q3 2017 Highlights
Q3 2017 Highlights Crude • Brent price increased from USD47.92 per bbl at the end of last quarter to USD57.54 per bbl. There was a delay of crude delivery in September into October. Refinery • High reliability at 99.8% • Production stoppage of due to delay of loading of crude vessel บริ ษทั ทิปโก้แอ
Slide 11: Highlights: Domestic and International Market
Q3 2017 Highlights: Domestic and International Market Domestic Market • Sales volume was close to Q2 2017 but higher than corresponding period by 6.32% • Domestic selling price stabilized as compared to Q2 2017 International Market • Asphalt product volume dropped by 44% as compared to Q3 2016 • Slo
Slide 12: Highlights: Asphalt Selling Price vs Ice Brent
Q3 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 50.9 52.2 63.5 45.8 46.9 47.1 55.2 51.2 53.8 40.0 45.3 48.2 44.7 38.0 37.4 38.5 34.7 20.0 0.0 Q2 Q3 Q4
Slide 13: Highlights: Asphalt Volume & Asphalt Revenue Structure
Q3 2017 Highlights : Asphalt Volume & Asphalt Revenue Structure Asphalt sales volume concentration by market Unit: % Main International Markets Domestic International 0.44 0.60 0.37 Mil tons Mil tons Mil tons China 80% 83% 74% Indonesia 20% 17% 26% Q3 2016 Q2 2017 Q3 2017 Asphalt Revenue (Exc. Non a
Slide 14: Q4 2017 Outlook – Refinery and Marine
Q4 2017 Outlook – Refinery and Marine Crude • 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 • Our biggest vessel, TASCO TARA, with 12,000 DWT.
Slide 15: Q4 2017 Outlook – Domestic & international market
Q4 2017 Outlook – Domestic & international market Domestic Market • Domestic volume will benefit from disbursement of 2018 government budget International Market • Average international selling price is in uptrend บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 14
Slide 16: Q&A
Q&A บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 15
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