Electricity Generating Public Co., Ltd. · SET:EGCO
Electricity Generating Public — FY2010 Earnings Presentation
52 slides from Electricity Generating Public's earnings presentation, 2011
Slide 1: Corporate Presentation: Annual Period Financial Results Ended 31 December 2010
Corporate Presentation Annual Period Financial Results Ended 31 December 2010
Slide 2: Disclaimer Statement
Disclaimer Statement This presentation was made from the analysis of reliable information in order to assist investment community to better understand the company's financial status and operation. It also supports the "Good Corporate Governance Project" of the Securities and Exchange Commission (SEC
Slide 3: Table of Contents
Table of Contents • EGCO Restructuring • Thailand’s Electricity Industry Overview • EGCO Group’s Overview • Financial Results • Appendices 3
Slide 4: EGCO Restructuring
EGCO Restructuring PRESIDENT Seconded Management to Subsidiaries Rayong SEVP- Business Development SEVP- Business Development SEVP- Finance and Power Plant International Domestic Corporate Services 4
Slide 5: Executive Profiles: Mr. Piya Jetasanon
EGCO Restructuring Executive Profiles Mr. Piya Jetasanon SEVP- Finance and Corporate Services Mr.Piya holds MBA from Ramkhamhaeng University and B.A. (Economics) from Thammasart University. He also attended course on “Directors Certification Program Course” at Thai Institute of Directors Association
Slide 6: Executive Profiles: Mr. Voravit Potisuk
EGCO Restructuring Executive Profiles Mr. Voravit Potisuk SEVP- Business Development Domestic Mr. Voravit holds MBA from University of Thai Chamber of Commerce and B.Eng. (Electrical and Communication) from Chulalongkorn University. He also attended course on “Director Certification Program 101” at
Slide 7: Thailand's Electricity Industry Overview
Thailand’s Electricity Industry Overview
Slide 8: Current Electricity Supply Industry
Thailand’s Electricity Industry Overview : Current Electricity Supply Industry EGAT * INT. (5.14%)* IPP (39.30%)* SPP (7.06%)* (48.51%) EGAT Transmission 2 MEA PEA Direct Customers End Users IPP : Independent Power Producer MEA : Metropolitan Electricity Authority EGCO’s IPPs have 11% market share.
Slide 9: Historical Demand Growth
Thailand’s Electricity Industry Overview : Historical Demand Growth MW 22,044.90 MW or -2.32% 24,009.90 MW or 8.91% 26,000 decrease from 2008 increase from 2009 25,000 2011 24,000 2010 23,000 2009 22,000 2008 21,000 2007 20,000 2006 19,000 2005 18,000 2004 17,000 2003 16,000 2002 15,000 14,000 Janua
Slide 10: Energy Generation Sales by Categories
Thailand’s Electricity Industry Overview : Energy Generation Sales by Categories 2009 + 13.75% Unit : Gwh + 9.78% + 6.58% + 8.01% 63,796,693,035 + 8.76% 56,085,463,391 10,134,858,757 9,383,670,759 30,254,671,282 33,213,616,287 23,748,723,747 22,282,434,126 15,586,665,144 14,330,815,513 Market Share
Slide 11: Thailand's New Capacity (2010-2017)
Corporate Overview : Thailand’s New Capacity (2010 – 2017) Reserve Margin 4,500 28.1% 27.1% 23.7% 25.4% 23.4% 26.0% 27.2% 23.2% 4,000 Others 18 MW SPP (Co-gen) 90 MW Source: PDP 2010 Revised by 12 3,500 VSPP 192 MW March 2010 NPS # 3-4 2x135 MW 3,000 Others 54 MW Wang Noi # 4 VSPP 187 MW 800 MW 2,50
Slide 12: Thailand's New Capacity (2018-2030)
Corporate Overview : Thailand’s New Capacity (2018 – 2030) Reserve Margin 6,500 17.3% 15.0% 15.6% 15.4% 16.0% 16.7% 16.5% 16.3% 15.9% 15.4% 16.3% 16.3% 15.0% 6,000 VSPP 146 MW SPP (Co-gen) 5,500 360 MW VSPP 173 MW EGAT # 3 5,000 (Coal) SPP (Co-gen) 360 MW 800 MW 4,500 EGAT # 5 VSPP 159 MW (Nuclear)
Slide 13: EGCO Group's Overview
a4 an FE G C O Energy for life GROUP EGCO Group’s Overview
Slide 14: EGCO Group Investment
EGCO Group’s Overview : EGCO Group Investment Note: Since December 2008, installed capacity of GPG, WMPC, SPPC, and NT2 have been adjusted to gross MW capacity so that all figures shown will be on the same basis. 14
Slide 15: EGCO Group's Strategic Direction
EGCO Group’s Overview : EGCO Group’s Strategic Direction • Seek ASEAN region opportunities • Develop or acquire IPP&SPP projects including increase stakes in existing IPP projects • Develop renewable energy projects (SPP) • Negotiate on REGCO & KEGCO PPA Extension Continue to focus on power generati
Slide 16: Financial Results
i Ss EG C O Energy for life GROUP
Slide 17: Net Profit
Net Profit Million Baht 7,936 (-1,143) 6,792 14% 17 2009 2010
Slide 18: Net Profit before FX
Net Profit before FX Million Baht 7,506 (-1,285) 6,220 17% 18 2009 2010
Slide 19: FX of SUBs and JVEs
FX of SUBs and JVEs Million Baht 33% 572 142 430 19 2009 2010
Slide 20: Operating Results
Operating Results Ended December 31, 2009 and 2010 Million Baht YE2009 YE2010 +/- % Diff Revenues (EGCO + Subs) 9,494.54 8,995.18 (499.36) -5% Share of profit from JVEs bf FX 5,875.51 5,561.77 (313.74) -5% Expenses (EGCO + Subs) 7,864.87 8,336.35 471.48 6% Profit before FX 7,505.17 6,220.60 (1,284.5
Slide 21: Summary Results
Summary Results Ended December 31, 2009 and 2010 21
Slide 22: Net Profit before FX
Net Profit before FX Ended December 31 Million Baht 2009 2010 24% 6,659 5,079 86% 18% 1,287 35% 693 505 413 177 239 51% -529 -798 IPP SPP Overseas Others EGCO 22
Slide 23: Net Profit before FX by Segment
Net Profit before FX Ended December 31, 2010 Million Baht SPP 6% 413 MB Overseas 18% 1,287 MB IPP 72% 5,079 MB Others 4% 239 MB 23 By Segment
Slide 24: Net Profit before FX by Company
Net Profit before FX Ended December 31, 2010 Million Baht GCC, NKCC, SCC, 184 MB EGCO Cogen 2% 150 MB GYG, 4% Roi Et Green 1% 100 MB Conal 2% 155 MB GPG (KK2) 25% 1,776 MB NTPC 8% 553 MB Quezon 8% 578 MB ESCO 2% 145 MB BLCP 33% 2,336 MB Rayong Pow er ET 1% 94 MB plant 7% KEGCO 7% 501 MB 467 MB 24 By
Slide 25: Cash Flow
Cash Flow Ended December 31, 2009 and 2010 Million Baht 25
Slide 26: Summary of Debt Structure
Summary of Debt Structure -Total facilities and total outstanding balances of EGCO & Subs Total Outstanding Balances Total Facilities 31 December 2010 USD 27 M. USD 13 M. 4.15% JPY 1,260 M. JPY 571 M. 2.23% Baht 20,778 M. Baht 8,970 M. 93.62% 26
Slide 27: EGCO D/E Profiles
EGCO D/E Profiles Ended December 31, 2010 1.20 Million Baht Total Debt : 10,838 1.00 0.97 Total Equity : 54,817 0.94 0.89 0.86 0.89 0.91 0.89 0.85 Cash and cash equivalents : 7,748 0.80 Outstanding revolving credit facility : 4,000 0.60 Total : 11,748 0.41 0.40 0.36 0.31 0.32 0.31 0.28 0.28 0.26 0.2
Slide 28: Dividend Policy
GROUP Energy for life
Slide 29: Dividend Policy
Dividend Policy Baht/Share 5.00 5.25 5.25 4.75 4.00 2.50 2.75 2.75 3.25 2.50 3.00 2.75 2.00 2.50 2.25 1.50 1.75 1.25 1.50 1.25 2.25 2.50 2.50 2.50 2.00 1.25 1.25 1.50 1.50 1.00 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 29 Interim Final
Slide 30: Appendices
Appendices • Corporate Overview • Financial Results • Operating Performance
Slide 31: EGCO Shareholding Structure as of September 2010
Corporate Overview : EGCO Shareholding Structure as of 7 September 2010 EGAT OneEnergy Thailand Ltd. (owned by OneEnergy which is jointly owned 50% each by CLP Holding and Mitsubishi Corporation) 25.41% 22.42% * Foreign investors comprise those investing in foreign board (22.39%) and Non-Voting Depo
Slide 32: EGCO Board of Directors
Corporate Overview : EGCO Board of Directors • Mr. Pornchai Rujiprapa (Chairman of the Board) EGAT • Mr. Sahust Pratuknukul Directors • Mr. Kurujit Nakornthap • Mr. Somboon Arayaskul • Mr. Hideaki Tomiku • Mr. Ryota Sakakibara OneEnergy • Mr. Akio Matsuzaki Directors • Mr. Toshiro Kudama EGCO Mr. Vi
Slide 33: EGCO Group Structure
Corporate Overview : EGCO Group Structure EGCO Group 4,660.0 MW Majority Owned Minority Owned 2,276.6 MW 2,383.4 MW ESCO TJ Cogen EGCO-Rayong EGCO Green EGCO Cogen KEGCO GEC BLCP NTPC North Pole NED XHPP EAST Water 120.00 1,232.00 9.40 117.00 824.00 1,895.00 1,434.00 1,086.80 159.60 55.00 1,285.00 1
Slide 34: EGCO Group's CSR Projects
Corporate Overview : EGCO Group’s CSR Projects Paths for Promotion and Development of Community's “Quality of Life” Paths for Preservation of the “Watershed Forest” • Pluak Dang Health Care Market • A Watershed Forest: A Source of Energy for • Mobile Medical Unit Support Life project • Breeding of B
Slide 35: Appendices
Appendices • Corporate Overview • Financial Results • Operating Performance
Slide 36: Operating Results ended December 31, 2009 and 2010
Financial Results : Operating Results ended December 31, 2009 and 2010 Million Baht 36
Slide 37: EBITDA and Net Profit
Financial Results : EBITDA and Net Profit Ended December 31, 2009 and 2010 Million Baht EBITDA YE09 YE10 -11% Net Profit 11,559 10,286 -14% 7,936 6,792 33 11 -568 -569 -621 -455 -2,467 -2,481 Finance costs Tax DA FX 37
Slide 38: Operating Results Q4/2009 vs Q4/2010
Financial Results : Operating Results – Q4/2009 VS Q4/2010 Million Baht 38
Slide 39: Segmental Operating Results Ended December 31, 2009
Financial Results : Segmental Operating Results Ended December 31, 2009 Million Baht 39
Slide 40: Segmental Operating Results Ended December 31, 2010
Financial Results : Segmental Operating Results Ended December 31, 2010 Million Baht 40
Slide 41: Segmental Operating Results Q4/2009
Financial Results : Segmental Operating Results Q4/2009 Million Baht 41
Slide 42: Segmental Operating Results Q4/2010
Financial Results : Segmental Operating Results Q4/2010 Million Baht 42
Slide 43: Financial Ratio Highlights
Financial Results : Financial Ratio Highlights 43
Slide 44: FX Variance Ended December 31, 2009 and 2010
Financial Results : FX Variance Ended December 31, 2009 and 2010 Million Baht 44
Slide 45: Appendices
Appendices • Corporate Overview • Financial Results • Operating Performance
Slide 46: Annual Net Generation & Electricity Sales 2006-2010
Operating Performance (IPPs) : Annual Net Generation & Electricity Sales for the Year 2006-2010 Net Generation GWh (9 Month) (Block I) Electricity Sales MM Baht (Block I) (9 Month) Rayong Power Plant KEGCO BLCP KK 2 NT 2 • EGAT is the sole offtaker for electricity produced by Rayong Power Plant and
Slide 47: Major Maintenance Expenses for the Year 2011
Operating Performance (IPPs) : Major Maintenance Expenses for the Year 2011 MM Baht 47
Slide 48: Major Maintenance Expenses for the Year 2010
Operating Performance (IPPs) : Major Maintenance Expenses for the Year 2010 MM Baht 48
Slide 49: Major Maintenance Expenses for the Year 2009
Operating Performance (IPPs) : Major Maintenance Expenses for the Year 2009 MM Baht 49
Slide 50: Operating Performance Equivalent Availability Factor
Operating Performance (IPPs) : Operating Performance Equivalent Availability Factor 50
Slide 51: Net Generation and Fuel Consumption
Operating Performance (IPPs) : Net Generation and Fuel Consumption 51
Slide 52: Thank You
~ _ - = = _ & il Et Py = = - _- = EGC O be es SS 2 ——————— ———— Energy for life Thank You 52
Electricity Generating Public Company Limited (EGCO) — FY2010 Earnings Presentation on 6ix