Electricity Generating Public Co., Ltd. · SET:EGCO

Electricity Generating Public — 9M 2009 Earnings Presentation

40 slides from Electricity Generating Public's earnings presentation, November 2009

  1. Slide 1: Corporate Presentation: Nine-Month Period Financial Results Ended 30 September 2009

    Corporate Presentation Nine - Month Period Financial Results Ended 30 September 2009

  2. Slide 2: Disclaimer Statement

    Disclaimer Statement This presentation was made from the analysis of reliable information in order to assist investment community to better understand the company's financial status and operation. It also supports the "Good Corporate Governance Project" of the Securities and Exchange Commission (SEC

  3. Slide 3: Table of Contents

    Table of Contents • Thailand’s Electricity Industry Overview • EGCO Group’s Overview • Financial Results • Appendices 3

  4. Slide 4: Thailand's Electricity Industry Overview

    Thailand’s Electricity Industry Overview

  5. Slide 5: Current Electricity Supply Industry

    Thailand’s Electricity Industry Overview : Current Electricity Supply Industry EGAT* INT. (2.19%)* IPP (41.63%)* SPP (7.10%)* (49.08%) EGAT Transmission 2 MEA PEA Direct Customers End Users IPP : Independent Power Producer MEA : Metropolitan Electricity Authority EGCO’s IPPs have 11.65% market share

  6. Slide 6: Historical Demand Growth

    Thailand’s Electricity Industry Overview : Historical Demand Growth 22,568.20 MW or -0.08% 22,044.90 MW or -2.32% MW decrease from 2007 decrease from 2008 24,000 23,000 22,000 2009 21,000 2008 20,000 2007 19,000 2006 2005 18,000 2004 17,000 2003 16,000 2002 15,000 14,000 January February March April

  7. Slide 7: Energy Generation Sales by Categories

    Thailand’s Electricity Industry Overview : Energy Generation Sales by Categories 2009 - 8.28% Unit : Gwh + 4.87% - 4.34% + 3.89% 45,031,150,041 41,302,987,438 + 3.50% 7,082,693,828 6,817,265,618 22,952,334,203 21,886,881,700 17,348,857,961 16,596,661,168 10,790,475,604 10,426,012,947 Market Share Re

  8. Slide 8: Thailand's New Capacity (2009–2021)

    Corporate Overview : Thailand’s New Capacity (2009 – 2021) 4,500 EGAT Private Players New Plants Neighboring Country 4,000 SPP (Cog.+VSPP) 90+50 MW 3,500 NPS #3-4 VSPP VSPP 2x135 MW 50 MW 50 MW VSPP VSPP Neighboring C. 3,000 50 MW 50 MW VSPP VSPP 500 MW 50 MW 50 MW Neighboring C. Neighboring C. 450

  9. Slide 9: EGCO Group's Overview

    a4 an FE G C O Energy for life GROUP EGCO Group’s Overview

  10. Slide 10: EGCO Group Investment

    EGCO Group’s Overview : EGCO Group Investment Note: Since December 2008, installed capacity of GPG, WMPC, SPPC, and NT2 have been adjusted to gross MW capacity so that all figures shown will be on the same basis. 10

  11. Slide 11: EGCO Group's Strategic Direction

    EGCO Group’s Overview : EGCO Group’s Strategic Direction • Seek ASEAN region opportunities • Develop or acquire IPP&SPP projects including increase stakes in existing IPP projects • Develop renewable energy projects (SPP) • Negotiate on REGCO & KEGCO PPA Extension Continue to focus on power generati

  12. Slide 12: Financial Results

    a) WS E G C O Energy for life GROUP Financial Results

  13. Slide 13: Summary Results ended September 30, 2009 and 2008

    Financial Results : Summary Results ended September 30, 2009 and 2008 Million Baht 9M09 9M08 -2% 6% 6,310 6,453 6,655 6,268 346 -185 Net Profit bf FX FX of Subs & JVEs Net Profit 13

  14. Slide 14: Profit before FX of Subs & JVEs by Segment

    Financial Results : Profit before FX of Subs & JVEs by Segment Ended September 30, 2009 and 2008 -5% Million Baht 9M09 9M08 6,081 5,760 -22% -53% 384 490 341 104 223 -27 -279 -314 IPP SPP Others Overseas EGCO REGCO, KEGCO, Roi-ET Green, ESCO, ET, Conal, BLCP, GPG (KK2) EGCO Cogen, AMESCO, Quezon, GE

  15. Slide 15: Profit before FX by Segment and Company

    Profit before FX Ended September 30, 2009 By Segment By Company GEC Excl. GPG 4% 251 MB GPG (KK2) 24% EGCO Cogen 1% 1,584 MB 55 MB SPP 6% Roi Et Green 1% 78 MB IPP 87% Conal 1% 5,760 MB 77 MB 384 MB BLCP 42% 2,835 MB Quezon 5% 341 Overseas 5% 355 MB 10 M B ESCO 1% 4M B 34 MB REGCO 15% ET 1% 76 MB 1,

  16. Slide 16: Cashflow Ended September 30, 2009 and 2008

    Financial Results : Cashflow Ended September 30, 2009 and 2008 Million Baht 16

  17. Slide 17: Summary of Debt Structure

    Financial Results : Summary of Debt Structure Total Outstanding Balances Total Facilities 30 September 2009 USD 27 M. USD 16 M. 3.58% JPY 1,260 M. JPY 671 M. 1.72% Baht 20,907 M. Baht 13,908 M. 94.70% • Total facilities and total outstanding balances of EGCO Group (Not in EGCO’s portion) • Total out

  18. Slide 18: EGCO D/E Profiles

    EGCO D/E Profiles : Ended September 30, 2009 Million Baht 1.20 Total Debt : 15,890 1.00 0.94 0.97 Total Equity : 49,567 0.89 0.86 0.89 0.91 0.89 0.85 Cash and cash equivalents : 9,244 0.80 Outstanding revolving 0.60 credit facility : 500 * Total : 9,744 0.41 0.40 0.36 0.31 0.32 0.31 0.28 0.28 0.26 0

  19. Slide 19: Dividend Policy

    Financial Results : Dividend Policy Baht/Share 5.00 4.75 4.00 3.25 2.50 2.50 3.00 2.50 2.75 2.00 2.25 1.50 1.75 1.25 1.50 1.25 2.25 2.50 2.50 2.00 1.25 1.25 1.50 1.50 1.00 2001 2002 2003 2004 2005 2006 2007 2008 2009 Interim Final “In the absence of unforeseen circumstances, the company has a policy

  20. Slide 20: Appendices

    Appendices • Corporate Overview • Financial Results • Operating Performance

  21. Slide 21: EGCO Shareholding Structure

    Corporate Overview : EGCO Shareholding Structure as of 8 September 2009 EGAT OneEnergy Thailand Ltd. (owned by OneEnergy which is jointly owned 50% each by CLP Holding and Mitsubishi Corporation) 25.41% 22.42% * Foreign investors comprise those investing in foreign board (22.39%) and Non-Voting Depo

  22. Slide 22: EGCO Board of Directors

    Corporate Overview : EGCO Board of Directors • Mr. Pornchai Rujiprapa (Chairman of the Board) EGAT • Mr. Apichart Dilogsopon Directors • Mr. Wisudhi Srisuphan • Mr. Somboon Arayaskul • Mr. Peter Albert Littlewood • Mr. Mark Christopher Jobling OneEnergy • Mr. Hideaki Tomiku Directors • Mr. Shinji Ts

  23. Slide 23: EGCO Group Structure

    Corporate Overview : EGCO Group Structure EGCO Group 4,252.4 MW Majority Owned Minority Owned 2,156.6 MW 2,095.8 MW ESCO REGCO EGCO Green EGCO Cogen KEGCO GEC BLCP NT2 EGCO BVI EAST Water 1,232.00 9.40 117.00 824.00 1,895.00 1,434.00 1,086.80 159.60 100.0% 100.0% 74.0% 80.0% 100.0% 50.0% 50.0% 25.0%

  24. Slide 24: EGCO Group's CSR Projects

    Corporate Overview : EGCO Group’s CSR Projects Environment and Natural Resource Conservation 1. Forest : The Circle of Life (Forest Fight Global Planting at Doi Inthanond) 2. How to Fight Global Warming with Sustainable Living 3. EGCO Thai conservation of Forest Youth Camp 4. Research on Dolphin Pop

  25. Slide 25: Appendices

    Appendices • Corporate Overview • Financial Results • Operating Performance

  26. Slide 26: Operating Results ended September 30, 2009 and 2008

    Financial Results : Operating Results ended September 30, 2009 and 2008 Million Baht 26

  27. Slide 27: Operating Results – 3Q09 vs 3Q08

    Financial Results : Operating Results – 3Q09 VS 3Q08 Million Baht 27

  28. Slide 28: Segmental Operating Results: Ended September 30, 2009

    Segmental Operating Results : Ended September 30, 2009 Million Baht 28

  29. Slide 29: Segmental Operating Results: Ended September 30, 2008

    Segmental Operating Results : Ended September 30, 2008 Million Baht 29

  30. Slide 30: Segmental Operating Results: 3Q09

    Segmental Operating Results : 3Q09 Million Baht 30

  31. Slide 31: Segmental Operating Results: 3Q08

    Segmental Operating Results : 3Q08 Million Baht 31

  32. Slide 32: FX Analysis Ended September 30, 2009 and 2008

    Financial Results : FX Analysis Ended September 30, 2009 and 2008 Million Baht Arise in Gain on FX due to the Baht appreciation 32

  33. Slide 33: EBITDA and Net Profit

    Financial Results : EBITDA and Net Profit Ended September 30, 2009 and 2008 Million Baht EBITDA 9M09 9M08 2% Net Profit 12,625 12,378 6% 6,655 6,268 346 -840 -652 -185 -1,885 -1,967 -3,590 -3,306 Finance costs Tax DA FX 33

  34. Slide 34: Financial Ratios

    7% Financial Result: i i Energy for life Debt to Equity (Time) Net Debt to Equity (Time) Net Profit before FX (MM baht) Net Profit (MM baht) EPS before FX (Baht) EPS (Baht) Operating Cash Flow/share (Baht) BV/share (Baht) ROE (%) Dividend/share (Baht) P/E -local (Time) PIE -foreign (Time) 34

  35. Slide 35: Appendices

    Appendices • Corporate Overview • Financial Results • Operating Performance

  36. Slide 36: Annual Net Generation & Electricity Sales 2004-2008

    Operating Performance (IPPs) : Annual Net Generation & Electricity Sales for the Year 2004-2008 Net Generation GWh (Block I) Electricity Sales MM Baht (Block I) REGCO KEGCO BLCP KK II • EGAT is the sole offtaker for electricity produced by REGCO and KEGCO under long term cost-plus based Power Purcha

  37. Slide 37: Major Maintenance Expenses for the Year 2009

    Operating Performance (IPPs) : Major Maintenance Expenses for the Year 2009 MM Baht 37

  38. Slide 38: Major Maintenance Expenses for the Year 2008

    Operating Performance (IPPs) : Major Maintenance Expenses for the Year 2008 MM Baht 38

  39. Slide 39: Equivalent Availability Factor

    Operating Performance (IPPs) : Operating Performance Equivalent Availability Factor 39

  40. Slide 40: Net Generation and Fuel Consumption

    Operating Performance (IPPs) : Net Generation and Fuel Consumption 40

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