Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q2 2020 Earnings Presentation
13 slides from Tipco Asphalt Public's earnings presentation, Aug 14, 2020
Slide 1: 3-2020 Opportunity Day (Q2 2020 Operational Results)
Tipco Asphalt Public Company Limited (TASCO) 3-2020 Opportunity Day (Q2 2020 Operational Results) 14th August 2020
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 Q2 2020 Financial Performance 2 Q2 2020 Highlights 3 Outlook 4 Q&A
Slide 4: Sales & Services Revenue & Sales Volume
Sales & Services Revenue & Sales Volume Sales & Services Revenue • Sales and services stood at Baht 6,542 million, reflecting a decrease Unit: Mil. THB of 39.3% from Q2 2019 36,893 • This was mainly attributable to the sharp dropped in all products 10,784 9,450 9,568 prices in line with overall oil
Slide 5: Operating Gross Profit
Operating Gross Profit Operating Gross Profit Unit: Mil. THB • The company had a gain from the reversal of net 2020 2019 4,174 realizable value (NRV) provision of Baht 2,103 million 2,504 but recorded hedging loss of Baht 164 million in Q2 2020 1,168 916 1,076 1,014 • Even though the Brent price has
Slide 6: EBITDA & Net Profit
EBITDA & Net Profit EBITDA Unit: Mil. THB • The EBITDA increased by Baht 996 million from the receipt of 3,953 hedging gain reported in Q1. 1,345 • As a result, the Group’s cashflow generated maintained at Baht 1,261 1,195 939 1,261 million compared to Baht 1,195 million in Q2 2019 379 474 despite t
Slide 7: Debt to Equity Ratio
Debt to Equity Ratio Debt/Equity Ratio 1.13 0.81 0.82 0.004 0.002 0.001 Q2 2019 Q1 2020 Q2 2020 Total liabilities/Total equity LT debt/Total equity • The Group’s consolidated debt to equity ratio (D/E ratio) was 0.82 comparing to 1.13 in Q2 2019 due to the reduction of working capital financing for
Slide 8: Key Ratios and Historical Dividend
Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 2020 2019 2020 2019 24.2 15.6 21.1 11.6 10.3 13.5 17.8 15.4 12.6 8.2 6.6 7.7 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 1/ Return is based on sum of last 12 months net profit 2/ Return is based on sum of last 12 months net profit R
Slide 9: Expense relating to fire incident and insurance claim
Expense relating to fire incident and insurance claim • The refinery incurred additional operating expense of Baht 23 million. • These expenses were presented as expenses from a fire incident on 5th July 2018 until the date when damaged crude oil tanks were recommissioned for operation in May 2020 L
Slide 10: Q2 2020 - Highlights
Q2 2020 - Highlights Refinery • KBC has resumed processing at above 95% utilization rate to support the shortage supply of international market Domestic Market • Achieved record sales volume in Q2 2020 from the delay disbursement of 2020 government budget • Asphalt selling price speedy recovery from
Slide 11: Asphalt Selling Price vs. Ice Brent Price
Asphalt Selling Price vs. Ice Brent Price Unit: USD/barrel 90.0 Avg. asphalt selling price Avg. Ice Brent price 80.1 80.0 74.9 76.0 70.1 71.4 68.9 71.2 67.2 68.1 65.3 67.1 70.0 61.5 71.2 60.0 57.3 59.5 60.0 63.6 68.3 52.2 63.5 54.7 50.9 52.2 62.2 63.3 63.8 62.0 62.5 50.0 45.8 46.9 47.1 51.1 57.9 55.
Slide 12: Outlook
Outlook Refinery • Refinery will continue to run at full capacity to meet market demand Domestic Market • Peak season will continue into Q3 2020 International Market • Expecting more international markets to recover from the impact of Covid-19 pandemic 9
Slide 13: THANK YOU
THANK YOU Any queries, please contact: At email: investors@tipcoasphalt.com Tel: 662-273-6642 www.tipcoasphalt.com
Tipco Asphalt Public Company — Q2 2020 Earnings Presentation on 6ix