Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q1 2025 Earnings Presentation
36 slides from Siamgas & Petrochemicals Public's earnings presentation, 2025
Slide 1: 1Q/2025 Investor Presentation
SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED 1Q/2025 Investor Presentation
Slide 2: Agenda
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 2
Slide 3: Shareholding Structure
SHAREHOLDING STRUCTURE Domestic Fund MAJOR SHAREHOLDERS 0.04% (Weeraborwornpong Group) PUBLIC Retail 55.7 12.57% Foreign 814.32 % 31.43% Million Shares Thai NVDR 1,837.86 0.26% Million Shares PUBLIC 44.3 % 3 Latest book closing : On 14 MAR 2025
Slide 4: Milestones
Biestones ® 1976 » Founded the company aura 2016 » Investment ¢ 230 MW. COMBINE CYCLE POWER PLANT in Myanmar ] ©. © O 200. » Business acqu UNIQUEGAS , U Po 2018 » Investment #10 MW. DIESEL, POWER PLANT in Myanmar 3 ion 2005 2008 » Founded marine and __» Listed in SET land logistic > Setup cylinder m
Slide 5: Business Operation
BUSINESS OPERATION THAILAND OVERSEA 1 LIQUEFIED PETROLEUM GAS (LPG) LIQUEFIED PETROLEUM GAS (LPG) • Singapore 2 ROAD TRANSPORTATION • China 1 • Malaysia 3 MARINE TRANSPORTATION • Vietnam • Laos 4 CYLINDER MANUFACTURING COMBINE CYCLE POWER PLANT 2 5 OIL RETAIL BUSINESS • Myanmar DIESEL POWER PLANT 3
Slide 6: Business Update
BUSINESS UPDATE THAILAND The Company imported LPG in the approximately 30,000 metric tons in Q1/2025. The importation will increase significantly in Q2/2025 after receiving new vessel with higher storage capacity. Domestic sale volume in Q1/2025 increased 1.8% compares to the same period last year d
Slide 7: SGP's Presence
SGP’s PRESENCE South China, Zhuhai LPG LPG Business SOGEL Vietnam, HaiPhong LPG SUPERGAS Other Business Myanmar, Mawlamying South China, Zhuhai MLIPP LPG Powerplant 230 MW. SINOSIAMGAS Laos Prasansack LPG LPG Business Myanmar, Anin Thailand SMD LPG SIAMGAS & UNIQUEGAS Diesel Powerplant 10 MW. Thaila
Slide 8: Business Overview
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 8
Slide 9: Value Chain
VALUE CHAIN Customers / Procurement Inbound Logistics SGP Terminal & Depots Outbound Logistics Consumers LPG Transport LPG from separation plant by Fill in LPG cylinder for delivery. truck tanker to the Company’s Terminal COOKING and Depot. AUTOMOTIVE Suksawat Terminal LPG Bangpakong Terminal Songkh
Slide 10: Thailand LPG Market – All Sectors
THAILAND LPG MARKET – ALL SECTORS SALE VOLUME (TON) MARKET SHARE (%) +7.4% +0.4% +1.7% 25.8% -0.5% of 3,626 3,700 Y2024 3,372 3,639 38.7% 21.5% 940 Market -5.8% +5.3% +1.9% -0.9% Share 2 MARKET 759 775 790 782 SIAMGAS 12.5% 202 Others 17.9% YEAR Unit : ‘000 tons 9.4% (8 com.) 2021 2022 2023 2024 3M/
Slide 11: Cooking Market
COOKING MARKET SALE VOLUME (TON) -0.05% +1.4% 26.2% +0.8% +1.2% of 2,123.17 Y2024 2,049 2,094 2,095 542 -2.6% -0.3% -4.2% +1.6% MARKET 489 488 467 474 124 SIAMGAS YEAR Unit : ‘000 tons 2021 2022 2023 2024 3M/2025 YoY: Total +2.1% | SGP +4.4% MARKET SHARE (%) 46.9% QoQ: Total -1.4% | SGP -0.4% 22.8%
Slide 12: Automotive Market
AUTOMOTIVE MARKET SALE VOLUME (TON) +3.2% +3.3% +25.4% 25.3% of 799 825 852 -14.4% Y2024 644 208 -24.2% +16.5% +6.2% +6.9% MARKET 128 147 166 156 SIAMGAS 42 YEAR Unit : ‘000 tons 2021 2022 2023 2024 3M/2025 YoY: Total -1.3% | SGP +7.1% Others MARKET SHARE (%) (7 com.) 11.2% QoQ: Total -3.6% | SGP -3
Slide 13: Industry Market
INDUSTRY MARKET SALE VOLUME (TON) +8.8% -1.6% +0.6% 25.3% +12.4% of 725 679 732 721 Y2024 190 +5.4% +14.7% +18.8% -15.1% MARKET 142 167 140 142 SIAMGAS 36 YEAR Unit : ‘000 tons 2021 2022 2023 2024 3M/2025 YoY: Total +4.6% | SGP -8.3% MARKET SHARE (%) QoQ: Total +2.8% | SGP +2.4% 45.3% 19.0% Market 2
Slide 14: M.10
M.10 SALE VOLUME (TON) 29.3% +33.3% of Y2024 201 +14.6% 151 132 54 +98.5% MARKET -17.1% 41 SIAMGAS 25 20 12 YEAR Unit : ‘000 tons 2021 2022 2023 2024 3M/2025 YoY: Total +21.8% | SGP +56.6% MARKET SHARE (%) QoQ: Total +3.1% | SGP +3.1% Others (3 com.) 13.5% 21.7% 7.3% 51.94 53.55 Market 3 43.97 MARKE
Slide 15: Oversea LPG Business
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 15
Slide 16: Saudi Aramco CP vs Crude Oil
SAUDI ARAMCO CP vs CRUDE OIL USD/TON Propane (C3) Butane (C4) 1000 790 LPG 900 720 800 630 630 635 635 635 620 625 625 600 605 610 610 615 615 590 590 580 580 580 700 550 555 555 790 740 470 600 450 400 640 640 630 630 630 625 620 620 620 620 500 615 615 605 605 595 585 570 565 565 560 555 545 400 4
Slide 17: Lead Time
LEAD TIME USA 30 1.5 30 5 45 Middle East 5.5 8 12 Supply from Middle East 7 3 Supply from Australia 2.5 Supply from USA 0.75 Receiving and distribution point 1 Delivery time Australia 7 Floating Storage 17
Slide 18: Offshore Trading Business
OFFSHORE TRADING BUSINESS SALE VOLUME (TON) YoY -30.7% -0.7% 20.2% -6.6% +2.1% of 1,416,870 Y2024 QoQ -18.4% 1,323,806 1,351,030 394,804 335,244 273,547 273,547 YEAR UNIT : ‘000 TONS QUARTER 2022 2023 2024 3M/2025 1Q|24 4Q|24 1Q|25 OUTLOOK West ASIA East ASIA Southeast ASIA 1,500,000 2025 Target CUS
Slide 19: Retail Business
RETAIL BUSINESS SALE VOLUME (TON) +6.9% +25.6% 1,476,970 26.8% YoY +7.9% 1,382,207 of -28.4% Y2024 QoQ +20.4% 1,057,521 283,112 262,415 283,112 235,119 YEAR UNIT : ‘000 TONS QUARTER 2022 2023 2024 3M/2025 1Q|24 4Q|24 1Q|25 O 1,163,500 Target U PORTION T 10.0% L growth CHINA MALAYSIA VIETNAM SINGAPOR
Slide 20: Total Sales Oversea
TOTAL SALES OVERSEA SALE VOLUME (TON) +25.7% +0.1% 20.9% of YoY -15.3% 2,799,077 2,800,776 -14.0% Y2024 2,408,550 QoQ -2.4% 657,219 556,658 570,363 556,658 YEAR UNIT : ‘000 TONS QUARTER 2022 2023 2024 3M/2025 1Q|24 4Q|24 1Q|25 TRADING 49.1% O 2,663,500 Target U T 10.6% CHINA L growth 39.0% O O 20.9%
Slide 21: Other Business
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 21
Slide 22: Power Plant
wey, POWER PLANT
Slide 23: Other Business
OTHER BUSINESS SELL TO HOUSEHOLD >>> SELL TO GOVERNMENT >>> SELL TO HOUSEHOLD >>> 230 MW. COMBINE CYCLE POWERPLANT 10 MW. DIESEL POWERPLANT ANNUALLY | SALE VOLUME (MW.) ANNUALLY | SALE VOLUME (MW.) +4.1% +6.3% -10.8% 25.1% YoY YoY 1,252,470 of -16.9% -6.4% 23.4% 1,131,506 1,177,949 Y2024 +3.8% -7.3%
Slide 24: Liquid Tank Farm and Deep Sea Port
LIQUID TANK FARM AND DEEP SEA PORT
Slide 25: Other Business
OTHER BUSINESS LIQUID TANK FARM & DEEPSEA PORT SERVICE OIL TRADING OVERSEA BUSINESS Total Number ANNUALLY | SALE VOLUME (BARRELS) Capacity of Liquid Utilized No. (Mil.Liter) Tank As 31 MAR 2025 Empty +30.9% YoY 15.27 819,890 1 (avg. 3.82/unit) 4 2 2 -68.2% -48.5% -65.3% 23.5% of -63,291 Barrel 27.05
Slide 26: Financial Results
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 26
Slide 27: Revenue Portion 3M/2025
REVENUE PORTION 3M/2025 Thailand 32.5% REVENUE PORTION (Thailand LPG, Logistic & Other) by PRODUCT LPG Oversea 67.5% LPG Oversea, (Offshore Trading & Retail Oversea Business) 67.2% Domestic, 24.2% 19,703 Million Baht Offshore Thailand 33.3% 30.5% Oversea Other, business 5.8% 34.2% OIL, 2.8% Other 0.
Slide 28: Revenue
REVENUE REVENUE (MILLION BAHT) 3M/2025 Consolidated REVENUE of Bt.19,703 m shows a -15.9% yoy decline YEARLY QUARTERLY Unit : Million Baht Unit : Million Baht YoY QoQ -15.9% -2.4% CP Price (Yearly Average) CP Price (Quarterly Avg.) -3,715 M.Baht -486 M.Baht 735.63 638.75 620 631.67 629.17 620 608.96
Slide 29: EBITDA & EBITDA Margin
EBITDA & EBITDA MARGIN 3M/2025 Consolidated EBITDA of Bt.921 m shows a -30.1% yoy growth EBITDA (MILLION BAHT) & EBITDA MARGIN (%) YEARLY QUARTERLY EBITDA EBITDA MARGIN YoY QoQ CP Price (Change in CP) CP Price (Change in CP) -30.1% -9.1% -396 M.Baht -92 M.Baht 317.5 27.5 32.5 20 -22.5 7,000.00 +53.3
Slide 30: Net Profit & Net Profit Margin
NET PROFIT & NET PROFIT MARGIN NET PROFIT (MILLION BAHT) & NET PROFIT MARGIN (%) 3M/2025 Consolidated NET PROFIT of Bt.125 m shows a -80.3% yoy growth YEARLY QUARTERLY NET PROFIT YoY QoQ NET PROFIT MARGIN -80.3% -54.2% -511 M.Baht -148 M.Baht +84.7% 800.00 -16.1% 5.80% 4,000.00 3,809 10.00% 700.00 6
Slide 31: Financial Position
FINANCIAL POSITION ASSET (THB Million) LIABILITIES (THB Million) EQUITY (THB Million) PP&E Other asset Shot term loan Current liabilities Total Equity Inventory Cash & Equivalents Long term Debt Non current liabilities 56,890 -5.9% 53,501 3,749 4,274 10,183 6,860 39,768 -8.6% 17,122 +0.2% 17,162 36,
Slide 32: Business Outlook
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 32
Slide 33: 2025 Sale Volume vs Outlook
2025 SALE VOLUME vs OUTLOOK LPG Sales Volume (Tons) SALE VOLUME FORECAST 2025 Sales volume (TONs) 2023 2024 3M/2024 Outlook 2025 3M|2025 % Success % YoY SGP - Thailand SGP Offshore Trading SGP - Thailand 812,853.54 825,538.66 205,465.27 900,000.00 214,412.36 23.8% +4.4% China Vietnam Offshore Tradin
Slide 34: Dividend Policy
01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 34
Slide 35: Dividend Payment
DIVIDEND PAYMENT DIVIDEND POLICY HISTORICAL DIVIDEND PAYMENT 2024 0.15 0.20 The Company has established the policy to Interim 2023 0.10 0.15 pay dividends to the shareholders at the rate Final 2022 0.20 0.20 of not less than 40% of the net profit after 2021 0.20 0.80 corporate income tax, accumulate
Slide 36: Thank You
THANK YOU 02-120-9999 # 3611,3612 sgp_ir@ugp.co.th www.siamgas.com 553 The Palladium Building 30th Floor, Ratchaprarop Road, Makkasan, Ratchathewi, Bangkok 10400 Thailand.
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