Petronas Chemicals Group Bhd. · MYX:PCHEM
Petronas Chemicals Group Bhd — Petronas Gas Berhad — FY2020 Earnings Presentation
25 slides from Petronas Chemicals Group Bhd's earnings presentation, Feb 23, 2021
Slide 1: PGB Analyst Briefing FY2020
Tuesday, 23 February 2020 9:00 – 10:00 a.m. (GMT+8) © 2021 Petroliam Nasional Berhad (PETRONAS) |
Slide 2: Disclaimer
Disclaimer © 2021 Petroliam Nasional Berhad (PETRONAS) |
Slide 3: PGB Management
PGB Management Abdul Aziz Othman 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 © 2021 Petroliam Nasional Berhad (PETRONAS) | 3
Slide 4: Presentation Outline
Presentation Outline 01 HIGHLIGHTS 02 OPERATIONAL PERFORMANCE 03 FINANCIAL PERFORMANCE 04 UPDATES © 2021 Petroliam Nasional Berhad (PETRONAS) | 4
Slide 5: Highlights
HIGHLIGHTS
Slide 6: FY2020 Highlights
FY2020 HIGHLIGHTS No significant impact from COVID-19 and MCO to the Group’s overall performance Excellent Plant Performance Operations High plant reliability sustained Achieved performance incentives IBR for Regulated Businesses TPA Higher RP1 tariffs with inclusion of IGC recovery RP1 tariffs effe
Slide 7: FY2020 Highlights
FY2020 HIGHLIGHTS YoY Group results positively impacted by lower operating expenditure Revenue Q4 2020 Q3 2020 Q4 2019 FY2020 FY2019 RM1.39 bn 1% 1% RM5.59 bn 3% Gross Profit Q4 2020 Q3 2020 Q4 2019 FY2020 FY2019 RM636 mil 14% 11% RM2.66 bn 11% Profit After Tax Q4 2020 Q3 2020 Q4 2019 FY2020 FY2019
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 99.9 99.9 99.7 99.5 99.0 World Class Reliability YTD Salesgas 100% Q4 Q3 Q4 Q4 Q3 Q4 2019 2020 2020 2019 2020 2020 99.7 99.9 99.7 99.0 Performance Incentives
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 99.99 99.95 100 100 100 100 100 100 100 Average Salesgas Delivery YTD Salesgas 1
Slide 11: Utilities
UTILITIES Delivered sales volume across all products on the back of customer demand Electricity Steam Industrial Gases GWh kMT Mil Nm3 1,149 Product Delivery 1,052 495 999 Reliability YTD 362 380 168 171 160 Electricity 100% Q4 Electricity Q3 Q4 Q4 Electricity Q3 Q4 Q4 Q3 Q4 Steam 100% 2019 2020 202
Slide 12: Financial Performance
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Slide 13: Financial: Gas Processing
FINANCIAL: GAS PROCESSING Higher gross profit on the back of lower operating costs QoQ FY 2020 1% RM Mil 1% UT 429 427 424 Group Revenue Revenue GP Regas RM5,592 mil 31% RM1,711 mil GT Q4 Q3 Q4 2019 2020 2020 RM Mil 9% UT Regas 9% Group Gross 248 Gross Profit GP 225 36% RM945 mil Profit 206 RM2,656
Slide 14: Financial: Gas Transportation
FINANCIAL: GAS TRANSPORTATION Higher RP1 tariff mitigated lower revenue from transfer of Sabah-Sarawak operations and Sarawak assets QoQ FY 2020 RM Mil GP 6% 294 294 Group Revenue 277 GT Revenue RM1,173 mil 21% UT RM5,592 mil Regas Q4 Q3 Q4 2019 2020 2020 RM Mil 6% GP 23% Group Gross 226 Gross Profi
Slide 15: Financial: Regasification
FINANCIAL: REGASIFICATION Higher revenue and gross profit in line with RP1 tariffs QoQ FY 2020 13% RM Mil GT 1% 351 354 314 Group Revenue GP Revenue Regas RM1,400 mil RM5,592 mil 25% UT Q4 Q3 Q4 2019 2020 2020 17% GT RM Mil 24% 216 Group Gross Gross Profit Regas 164 Profit 140 RM2,656 mil 27% RM713
Slide 16: Financial: Utilities
FINANCIAL: UTILITIES Lower operating costs despite lower revenue QoQ FY 2020 10% RM Mil Regas 6% 353 336 317 Group Revenue GT Revenue UT 23% RM1,309 mil RM5,592 mil GP Q4 Q3 Q4 2019 2020 2020 Regas RM Mil 68% 61% Group GT UT Gross 74 Gross Profit 8% RM204 mil Profit RM2,656 mil 44 46 GP Q4 Q3 Q4 201
Slide 17: Financial: Group
FINANCIAL: GROUP Sustained revenue streams and lower costs Revenue Gross Profit Profit After Tax RM Mil 1% RM Mil RM Mil 11% 6% 1% 14% 19% 1,372 1,407 1,389 736 640 636 493 521 574 Q4 Q3 Q4 Q4 Q3 Q4 Q4 Q3 Q4 2019 2020 2020 2019 2020 2020 2019 2020 2020 2.5% 5,458 5,592 11% 5% 2,656 2,387 1,984 2,082
Slide 18: Total Assets
TOTAL ASSETS Robust asset base supported by healthy cash balance as well as property, plant and equipment Total Assets Group Segmental (RM Mil) Assets NBV (RM Mil) 19,584 18,345 2,315 Other Assets 1,990 GT, Cash & Cash 2,889 4,022 3,139 Regas, 16% Equivalents 6,198 34% Total GP, 4,272 RM18,345 Mil 2
Slide 19: Dividends
DIVIDENDS Maximising shareholders return through sustained dividend payments Dividend Payout Ratio 84% 125% Dividend per share (sen) 82 127 5 Special Quarterly Dividend 50 Payment Special 10 Q4 22 22 Q4 Q3 18 18 Q3 Q2 16 16 Q2 Q1 16 16 Q1 31-Dec-19 31-Dec-20 © 2021 Petroliam Nasional Berhad (PETRONA
Slide 20: Updates
UPDATES
Slide 21: New lateral gas pipeline project
New lateral gas pipeline project 42km pipeline extension to new power plant in Pulau Indah and related industrial areas • Tapping from existing PGU II and Loop II • Estimated to be completed and commissioned in Quarter 1 2023 • Total Investment Cost = RM541 million © 2021 Petroliam Nasional Berhad (
Slide 22: Second TPA cargo received at RGTSU
Second TPA cargo received at RGTSU Subscription of regasification and transportation services by third party shipper • Subscribed third party shippers have access to RGTSU and PGU pipelines • Competitive market and gas prices offer sourcing options to consumers • RGTSU able to provide LNG vessel Met
Slide 23: PGB Moving Forward
PGB MOVING FORWARD Explore growth potentials leveraging on energy transition Collaborate in delivering 01 integrated utilities solutions Pursue opportunities in 02 power generation Explore step out 03 opportunities emerging from energy transition © 2021 Petroliam Nasional Berhad (PETRONAS) | 23
Slide 24: Q&A
Q&A
Slide 25: Contact Us
Contact Us 3 Izan Hajar Ishak +6 03 23319366 @ www.petronasgas.com (Head, Investor Relations) “© © @ @@@ @ @ | @ ir.petronasgas@petronas.com - 2° 0e@ @ 68686 6 ®@ e©ee@ee@e@i§ © retnonas "3 "e's ee es ee