Tipco Asphalt Public Co. Ltd. · SET:TASCO
Tipco Asphalt Public — Q2 2016 Earnings Presentation
15 slides from Tipco Asphalt Public's earnings presentation, Aug 15, 2016
Slide 1: Tipco Asphalt Public Company Limited (TASCO) Q2 2016 Analyst Meeting
Tipco Asphalt Public Company Limited (TASCO) Q2 2016 analyst meeting 15th August 2016 บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited
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 2016 Financial performance 2 Q2 2016 Highlight 3 H2 2016 Outlook บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited
Slide 4: Financial Performance: Sales & Services Revenue vs. Sales Volume
Q2 2016 Financial Performance : Sales & Services Revenue vs. Sales Volume Sales & Services Revenue Unit: Mil. Baht • Sales and services stood at Baht 5,500 10,487 million, reflecting a decrease of 47.6% 9,290 9,096 8,264 from the same period of last year. This 6,604 5,500 decrease was mainly attribu
Slide 5: Financial Performance: Operating Gross Profit
Q2 2016 Financial Performance : Operating Gross Profit Operating Gross Profit • Cost of sales and services in the 2nd quarter Unit: Mil. THB 2,055 2016 stood at Baht 4,337 million or 78.87% 1,908 1,969 (78.44% in corresponding quarter in 2015) of 1,657 sales and services before the allowance for 1,5
Slide 6: Financial Performance: EBITDA & Net Profit
Q2 2016 Financial Performance : EBITDA & Net Profit EBITDA Unit: Mil. THB • The Group cashflow for half 2016 2,286 generated from operations decrease to 1,902 1,796 Baht 3,021 million compared to Baht 1,346 1,331 3,248 million in corresponding period in 735 2015. Q1 Q2 Q3 Q4 2016 2015 Net Profit Aft
Slide 7: Financial Performance: Debt to Equity Ratio
Q2 2016 Financial Performance : Debt to Equity Ratio Debt/Equity Ratio Total debt/Total equity LT Debt/Total equity 0.97 0.60 0.55 0.36 0.20 0.15 Q2 2015 Q1 2016 Q2 2016 • The Group’s consolidated debt to equity ratio (D/E ratio) remained low at 0.55 comparing to 0.97 in corresponding period due to
Slide 8: Financial Performance: Key Ratios and Historical Dividend
Q2 2016 Financial Performance : Key Ratios and Historical Dividend Return on Equity1/ Return on Asset2/ Unit: % Unit: % 62.4 40.6 40.8 56.1 58.7 33.8 31.8 46.150.3 23.9 34.0 15.2 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2015 2016 2015 1/ Return is based on sum of last 12 months net profit 2/ Return is based on
Slide 9: Q2 2016 Highlights
Q2 2016 Highlights Crude • Average daily Brent price increased from US$43 per barrel from March to US$49 per barrel at the end of June • Extend long term crude supplier agreement until 2020 Refinery • High refining utilization and 99.8% reliability • Plant shutdown as planned in June 2016 Marine • I
Slide 10: Highlights: Domestic and International Market
Q2 2016 Highlights: Domestic and International Market Domestic Market • 25% asphalt product volume growth compared to Q2 2015 was mainly due to strong domestic especially Polymer Modify Asphalt (“PMA“) and Para AC International Market • Despite decreases in total international sales volume growth, s
Slide 11: Highlights: Asphalt Selling Price vs Ice Brent
Q2 2016 Highlights: Asphalt Selling Price vs Ice Brent Unit: USD/barrel 120.0 107.9 109.7 Avg. asphalt selling price Avg. Ice Brent 103.4 100.0 89.5 99.7 94.2 90.9 80.1 80.0 70.1 77.1 60.0 57.3 60.0 63.5 46.9 45.8 55.2 40.0 51.2 44.7 34.7 38.0 20.0 0.0 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015
Slide 12: Highlights: Total Sales Volume by Market
Q2 2016 Highlights : Total Sales Volume by Market Sales volume concentration by market Unit: % Domestic International 0.44 0.60 0.43 0.66 0.60 0.60 Mil tons Mil tons Mil tons Mil tons Mil tons Mil tons 71% 64% 72% 85% 83% 84% 29% 36% 28% 15% 17% 16% Q2 2016 Q1 2016 Q1 2015 Q2 2015 Q3 2015 Q4 2015 •
Slide 13: Highlights: Asphalt Volume & Asphalt Revenue Structure
Q2 2016 Highlights : Asphalt Volume & Asphalt Revenue Structure Asphalt sales volume concentration by market Main International Markets Unit: % Domestic International 0.44 0.60 0.43 0.66 0.60 0.60 China Mil tons Mil tons Mil tons Mil tons Mil tons Mil tons 72% 71% 64% 85% 83% 84% Indonesia 28% 29% 3
Slide 14: H2 2016 Outlook
H2 2016 Outlook Refinery: High utilization and reliability Marine: Lower income due to drydocking of two vessels Domestic: • Potential additional 2,000 billion baht for maintenance budget would benefit the Company International: • Asphalt demand will recover especially in Indonesia and Vietnam บริ ษ
Slide 15: Q&A
Q&A บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน) Tipco Asphalt Public Company Limited 12
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