China Aviation Oil (singapore) Corporation Ltd · SGX:G92
China Aviation Oil (singapore) — Investor Presentation (November 2012)
24 slides from China Aviation Oil (singapore)'s investor presentation, Nov 12, 2012
Slide 1: Corporate Presentation
12 November 2012 Corporate Presentation
Slide 2: Cautionary note on forward-looking statements
China Aviation Oil Cautionary note on forward-looking statements This presentation slides may contain forward-looking statements that involve risks and uncertainties. These statements reflect management’s current expectations, beliefs, hopes, intentions or strategies regarding the future and assumpt
Slide 3: Corporate Overview
China Aviation Oil Corporate Overview A member of the GTP 全球贸易商计划成员
Slide 4: At a Glance
4 At a Glance China Aviation Oil Sole Supplier of Imported Jet Fuel to the PRC Civil Aviation Industry Largest Purchaser & Trader of Physical Jet Fuel in Asia Pacific Company Information Incorporated 26 May 1993 Listed 6 December 2001 Current Share Price * S$ 0.96 Market Capitalisation S$ 692.6 mill
Slide 5: Our Businesses
5 Our Businesses China Aviation Oil CAO Jet Fuel Supply and Trading of Other Oil Oil-Related Assets Trading Products Storage Tanks China Gas Oil & Jetties International Fuel Oil Pipelines Petrochemical Airport Refuelling Products Facilities A member of the GTP 全球贸易商计划成员
Slide 6: Results Update
China Aviation Oil (Singapore) Corporation Ltd PBA (SMe) APRA Al Poser t Apublic company listed on the Singapore Exchange and a member of the Global Trader Programme ovat SMALBA A), “SRB AA |
Slide 7: 3Q 2012 Operating Environment
7 3Q 2012 Operating Environment China Aviation Oil US$ Challenging trading environment: 160 Brent Jet Prices − Adopted more prudent trading strategy 140 and reduced trading activities in view of 120 uncertainties in the global economy and 100 high volatility in oil markets 80 60 − Changes in market
Slide 8: 3Q 2012 Operating Environment
8 3Q 2012 Operating Environment China Aviation Oil Lower profit contribution from SPIA due to lower profitability attributable to higher average procurement costs of jet fuel inventory vis-à-vis sales revenue Higher costs as the Group pursued expansion opportunities − Additional storage costs due to
Slide 9: 3Q 2012 Profit & Loss Summary
9 3Q 2012 Profit & Loss Summary China Aviation Oil 3Q 2012: US$ 3,784.5m 3Q 2011: US$ 2,414.1m Total supply and trading volume increased 61% to 3.9m tonnes +56.8% Revenue Jet supply and trading volume up 31% to 2.8m tonnes Trading volume of other oil products increased 4x to 1.1m tonnes 3Q 2012: US$
Slide 10: 9M 2012 Profit & Loss Summary
10 9M 2012 Profit & Loss Summary China Aviation Oil 9M 2012: US$ 10,401.1m 9M 2011: US$ 6,867.7m Total supply and trading volume increased 50% to 10.4m tonnes +51.5% Revenue Jet supply and trading volume up 22% to 7.9m tonnes Trading volume of other oil products up 390% to 2.6m tonnes 9M 2012: US$ 3
Slide 11: Revenue In Tandem With Jet Fuel Prices
11 Revenue In Tandem With Jet Fuel Prices China Aviation Oil US$’ m Total Revenue Average Jet Fuel Prices US$/bbl 12,000 140 126.4 130.2 125.5 125.4 130 10,000 120 8,000 110 6,000 100 88.8 90.2 90 4,000 80 2,000 71.1 70 2958.0 5370.2 3634.3 5452.6 9012.0 6867.7 10401.1 0 60 2007 2008 2009 2010 2011
Slide 12: Increasing Revenue Contribution from Other Oil
12 Increasing Revenue Contribution from Other Oil China Products Aviation Oil US$’ m Middle Distillates Other Oil Products 12,000 1252.5 10,000 381.2 8,000 261.8 6,000 0.1 241.6 4,000 137.5 0.0 2,000 2958.0 5370.2 3496.8 5211.0 8630.8 6605.9 9148.5 0 2007 2008 2009 2010 2011 9M 2011 9M 2012 A member
Slide 13: Optimisation & Trading Drives Growth of Volume and Gross Profit
13 Optimisation & Trading Drives Growth of Volume and Gross China Aviation Oil Profit US$’ m Gross Profit Total Volume million tonnes 45.0 12.0 10.4 40.0 9.2 10.0 35.0 7.9 30.0 6.96 8.0 6.4 25.0 5.2 6.0 20.0 40.0 4.2 32.1 34.2 15.0 30.7 29.7 4.0 22.5 10.0 2.0 5.0 11.5 0.0 0.0 2007 2008 2009 2010 201
Slide 14: SPIA – A Significant Net Profit Contributor
14 SPIA – A Significant Net Profit Contributor China Aviation Oil Supply and Trading of Jet Fuel and Other Oil Products SPIA Other Associates US$’ m 70 2.3 60 1.9 1.8 50 1.7 3.3 0.1 37.9 40 32.9 35.8 26.2 10.4 20.9 30 27.6 20 27.8 10 21.0 23.2 22.9 20.1 17.1 10.8 0 -2.1 2007 2008 2009 2010 2011 9M 2
Slide 15: Balance Sheet Summary
15 Balance Sheet Summary China Aviation Oil 30 Sep 2012: US$ 20.1m 31 Dec 2011: US$ 38.2m -47.4% Inventories Lower due to trading activities 30 Sep 2012: US$ 1,181.1m 31 Dec 2011: US$ 838.5m Higher sales revenue in Sep 2012 compared with Dec 2011 +40.9% Trade and Other Trade receivables in CAOHK and
Slide 16: Outlook and Prospects
China Aviation Oil (Singapore) Corporation Ltd PBA (SMe) APRA Al Poser t Apublic company listed on the Singapore Exchange and a member of the Global Trader Programme ovat SMALBA A), “SRB AA |
Slide 17: FY2012 Profit Expected to be Comparable with FY2011
17 FY2012 Profit Expected to be Comparable withChina FY2011 Aviation Oil Market Conditions Expected to Improve - Holiday season in 4Q 2012 to boost travel and jet fuel demand in Asia - Shipping and procurement costs expected to normalise as typhoon season comes to an end SPIA - Improvement in result
Slide 18: FY2013 Growth Drivers
18 FY2013 Growth Drivers China Aviation Oil Capturing change in global product flows By 2020, Northwest Europe’s demand for jet fuel expected to increase by 180 kb/d, driven by rising share of budget airlines and increasing passenger-kilometres Meanwhile, the European refinery throughput is expected
Slide 19: FY2013 Growth Drivers
19 FY2013 Growth Drivers China Aviation Oil China’s civil aviation market to continue to grow Foundation of our optimisation and trading activities Moderate growth expected for jet fuel supply into China SPIA’s refuelling volumes expected to grow in tandem with air traffic growth at Pudong Airport o
Slide 20: FY2013 Growth Drivers
20 FY2013 Growth Drivers China Aviation Oil Proactively grow airlines marketing and supply business Chinese airlines’ overseas refueling volume expected to grow To leverage on our strategic alliance with major Chinese airlines to expand refueling volumes To expand supply locations at airports in Asi
Slide 21: FY2013 Growth Drivers
21 FY2013 Growth Drivers China Aviation Oil Increasing diversification into other oil products – petrochemicals CAO has successfully made inroads into China’s petrochemicals market. We are currently one of the largest suppliers of imported paraxylene (PX) We will continue to grow our presence in thi
Slide 22: FY2013 Growth Drivers
22 FY2013 Growth Drivers China Aviation Oil Increasing diversification into other oil products – fuel oil To continue to build up the business in Singapore, develop business in the Middle East and leverage on our links to establish presence in China To build up an integrated supply chain of procurem
Slide 23: FY2013 Growth Drivers
23 FY2013 Growth Drivers China Aviation Oil Evaluating the acquisition of strategic assets across the supply chain Storage and transportation assets, such as storage, jetties, pipelines, shipping Jet fuel and bunkering refuelling facilities Refining Logistics End User Storage & Penetrating supply Ac
Slide 24: Thank You
China Aviation Oil FB ATCR ( SHI) HR 23 Thank You A public company listed on the Singapore Exchange and a member of the Global Trader Programme SMALBA A), “SRB AA
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