Petronas Chemicals Group Bhd. · MYX:PCHEM
Petronas Chemicals Group Bhd — PETRONAS Gas Berhad — FY2019 Earnings Presentation
23 slides from Petronas Chemicals Group Bhd's earnings presentation, Feb 19, 2020
Slide 1: Analyst Briefing for Financial Year Ended 31 December 2019
PETRONAS GAS BERHAD Analyst Briefing for Financial Year Ended 31 December 2019 19 February 2020 © 2019 Petroliam Nasional Berhad (PETRONAS) All rights reserved. No part of this document may be reproduced in any form possible, stored in a retrieval system, transmitted and/or disseminated in any form
Slide 2: Disclaimer
Disclaimer © 2019 Petroliam Nasional Berhad (PETRONAS) |
Slide 3: Presentation Outline
Presentation Outline 01 HIGHLIGHTS 02 OPERATIONAL PERFORMANCE 03 FINANCIAL PERFORMANCE 04 UPDATES © 2019 Petroliam Nasional Berhad (PETRONAS) | 3
Slide 4: PGB Management
PGB Management Kamal Bahrin Ahmad Shariza Sharis Abdul Razak Izan Hajar Ishak M Yusof Saim Managing Director/ Head, Business Chief Executive Chief Financial Development & Head, Investor Officer Officer Commercial Relations © 2019 Petroliam Nasional Berhad (PETRONAS) | 4
Slide 5: Highlights
HIGHLIGHTS
Slide 6: FY2019 Highlights
FY2019 HIGHLIGHTS Operations Excellent Plant Performance High plant reliability sustained Achieved performance incentives Commercial 2nd Term Gas Processing Agreement GPA New remuneration terms Higher Reservation Charge and new Agreed Ethane Target Incentive IBR Implementation TPA RP1 tariffs approv
Slide 7: FY2019 Highlights
FY2019 HIGHLIGHTS Lower Revenue 1% at RM5.46 billion (FY2018: RM5.50 billion) Lower Gross Profit 6% at RM2.39 billion (FY2018: RM2.54 billion) Higher Profit After Tax 5% at RM1.98 billion (FY2018: RM1.89 billion) © 2019 Petroliam Nasional Berhad (PETRONAS) | 7
Slide 8: Operational Performance
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Slide 9: Gas Processing
GAS PROCESSING Strong OEE, demonstrating commitment in ensuring system reliability and sustenance of performance incentives OEE (%) C1 C2 100 100 99.7 World Class Reliability 99.0 99.0 YTD 97.8 Salesgas Processing 100% Product Delivery 100% Q4 Q3 Q4 Q4 Q3 Q4 2018 2019 2019 2018 2019 2019 99.8 99.7 9
Slide 10: Gas Transportation & Regasification
GAS TRANSPORTATION & REGASIFICATION GT sustained commitment in ensuring security of gas supply to the nation, Regasification maintained strong performance Transportation Regasification Reliability (%) OEE (%) RGTSU RGTP 99.95 100 100 100 100 100 100 100 World Class Reliability YTD Regasification Del
Slide 11: Utilities
UTILITIES Sustained sales volume across all products on the back of customer demand Electricity Steam Industrial Gases GWh kMt Mil Nm3 1,052 991 495 474 832 Product Delivery 429 168 153 Reliability YTD 108 Electricity 100% Q3 Q4 Electricity Q4 Q3 Q4 Steam Q4 Q4 Q3 Q4 2018 2019 2019 2018 2019 2019 20
Slide 12: Financial Performance
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Slide 13: Financial: Gas Processing
FINANCIAL: GAS PROCESSING Higher revenue and gross profit on higher GPA remuneration terms QoQ YTD 2019 10% RM Mil UT 2% 422 429 390 Group Revenue Revenue GP Regas RM5,458 mil 31% RM1,702 mil GT Q4 Q3 Q4 2018 2019 2019 RM Mil 31% Regas UT 5% 206 Group Gross 197 Gross Profit GP RM817 mil Profit 158 R
Slide 14: Financial: Gas Transportation
FINANCIAL: GAS TRANSPORTATION Lower revenue and profit in line with IBR tariffs QoQ YTD 2019 RM Mil 18% GP 6% 337 Group Revenue 293 Revenue GT 277 RM5,458 mil 21% RM1,153 mil UT Regas Q4 Q3 Q4 2018 2019 2019 RM Mil 22% GP 9% Group Gross 233 Gross Profit GT 201 183 RM799 mil Profit UT RM2,387 mil 33%
Slide 15: Financial: Regasification
FINANCIAL: REGASIFICATION Lower gross profit in line with IBR tariffs QoQ YTD 2019 RM Mil 2% GT 319 314 314 Group Revenue GP Revenue Regas 23% RM1,238 mil RM5,458 mil UT Q4 Q3 Q4 2018 2019 2019 GT RM Mil 18% 9% Group Gross Gross Profit Regas RM611 mil 170 155 Profit 140 RM2,387 mil 26% GP UT Q4 Q3 Q
Slide 16: Financial: Utilities
FINANCIAL: UTILITIES Higher revenue on the back of higher demand and favourable selling prices QoQ YTD 2019 4% RM Mil Regas 14% 341 353 309 Group GT UT Revenue Revenue 25% RM5,458 mil RM1,366 mil GP Q4 Q3 Q4 2018 2019 2019 Regas RM Mil 35% 297% Group GT UT RM160 mil Gross Gross Profit 7% Profit 44 R
Slide 17: Financial: Group
FINANCIAL: GROUP Higher revenue from Gas Processing and Utilities offset the lower revenue from Gas Transportation and Regasification Revenue Gross Profit Profit After Tax RM Mil RM Mil RM Mil 1% 3% 3% 52% 2% 11% 1,387 1,338 1,372 593 563 574 446 493 325 Q4 Q3 Q4 Q4 Q3 Q4 Q4 Q3 Q4 2018 2019 2019 201
Slide 18: Total Assets
TOTAL ASSETS Robust asset base supported by healthy cash balance as well as property, plant and equipment RM Mil 19,584 18,276 2,315 2,172 Other Assets 4,022 3,616 Cash & Cash Equivalents Property, Plant & Equipment 12,488 13,247 31-Dec-18 31-Dec-19 © 2019 Petroliam Nasional Berhad (PETRONAS) | 18
Slide 19: Dividends
DIVIDENDS Maximising shareholders return through sustained dividend payments Dividend Payout 84% Ratio 79% *excluding KPSB tax adjustment *74% impact in Q4 2018 72 82 Special 10 22 Q4 22 Quarterly Dividend Payment 18 Q3 18 Dividend per share (sen) 16 Q2 16 16 Q1 16 31-Dec-18 31-Dec-19 © 2019 Petroli
Slide 20: Updates
UPDATES
Slide 21: Updates
UPDATES Kimanis Power Sdn. Bhd. and Sabah Electricity Material Litigation Sdn. Bhd. signed a settlement agreement on 12 February 2020 PGB’s Miri Gas Distribution System (MGDS) Transfer of Sarawak and Bintulu Gas Distribution System (BGDS) assets to PETROS Gas transferred to PETROS Gas effective 1 Ja
Slide 22: Q&A
Q&A
Slide 23: Contact Us
Contact Us Izan Hajar Ishak +6 03 2331 9366 www.petronasgas.com (Head, Investor Relations) ® ir.petronasgas@petronas.com