Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q2 2022 Earnings Presentation
40 slides from Siamgas & Petrochemicals Public's earnings presentation, August 2022
Slide 1: 2Q/2022 Performance
2Q/2022 Performance SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED
Slide 2: Disclaimer
The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Siamgas and Petrochemicals Public Company Limited (“SGP” and shares in SGP, “shar
Slide 3: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 3
Slide 4: Major Shareholders
MAJOR SHAREHOLDERS 55.0% (Weeraborwornpong Group) Domestic Fund Foreign 0.1% 29.9% Retail 12.6% Thai NVDR 2.4% 45.0% PUBLIC Latest book closing : On 10 MAR 2022 4
Slide 5: Company history and acquisitions
Business acquisition (LPG Business) 1976 Founded the company 2013 • MYGAZ in Malaysia • CITYGAS NORTH in Vietnam 2004 Business acquisition – UNIQUEGAS Investment 2016 • 230 MW. COMBINE CYCLE 2005 Founded logistic service POWERPLANT in Myammar Investment • Listed in SET 2018 • 10 MW. DIESEL 2008 • Se
Slide 6: Thailand and overseas businesses
THAILAND OVERSEA 1 LIQUEFIED PETROLEUM GAS (LPG) LIQUEFIED PETROLEUM GAS (LPG) • Singapore 2 ROAD TRANSPORTATION • China 1 • Malaysia 3 MARINE TRANSPORTATION • Vietnam 4 CYLINDER MANUFACTURING COMBINE CYCLE POWER PLANT 2 • Myanmar 5 OIL RETAIL BUSINESS DIESEL POWER PLANT 3 • Myanmar 6 CONTAINER TERM
Slide 7: Thailand and overseas highlights
THAILAND LPG market in Q2/2022 increases compare to the same period last year due to demand increase. The Company’s sale in automotive sector increases strongly due to higher oil price. LPG price was lifted Baht 1.00/kg a month in Q2 total Baht 3.00/kg. OVERSEAS CP price decreases USD 157.5 in Q2/20
Slide 8: LPG business / Other business
LPG business OTHER business 8
Slide 9: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 9
Slide 10: LPG Domestic
agqwiind ing _. om 4 alaky) uv LPG DOMESTIC
Slide 11: LPG distribution channels
SGP COMMERCIAL FILLING USERS PLANTS COOKING LPG RETAILERS AGENT GAS SEPARATION PLANTS HOUSEHOLD FILLING USERS PLANTS REFINERIES SGP INDUST. TERMINALS INDUSTRIAL & & USERS DEPOTS SGP AUTO-LPG AUTOMOTIVE STATIONS MOTORISTS AGENT AUTO-LPG STATIONS 11
Slide 12: SGP's network in Thailand
SGP’s: NET WORIGIN THAILAND Lampang Depot Nakornsawan Depot Nakornsawan Suksawat Terminal Samut Prakan Surat Thani Terminal 2 a Surat Thani ; r fe tL ; Se = of = Terminals — ae — z ml Surat Thani Terminal Surat Thani
Slide 13: LPG Sales Volume and market share
Yearly Quarterly LPG Sales Volume (‘000 tons) LPG Sales Volume (‘000 tons) YoY: Total +10.2% | SGP +8.4% 4,011 -5.3% 3,799 -10.8% 3,389 -0.5% 3,372 QoQ: Total +0.3% | SGP -0.2% 3,027 2,847 1,786 811 892 895 2,583 2,613 -3.3% -15.4% -5.8% 1,390 629 693 696 984 952 805 759 397 183 199 198 2018 2019 20
Slide 14: LPG Sales Volume: Cooking
Yearly Quarterly LPG Sales Volume (‘000 tons) LPG Sales Volume (‘000 tons) YoY: Total +2.9% | SGP +2.5% 2,164 -1.8% +0.8% 2,125 -4.4% 2,033 2,049 QoQ: Total -2.4% | SGP -2.5% 1,570 1,556 523 1,530 1,560 1,034 496 511 -4.2% -11.7% -2.6% 789 378 399 390 594 569 502 489 245 118 124 121 2018 2019 2020 2
Slide 15: LPG Sales Volume: Automotive
Yearly Quarterly LPG Sales Volume (‘000 tons) LPG Sales Volume (‘000 tons) YoY: Total +31.3% | SGP +19.9% 1,170 -12.6% QoQ: Total +11.7% | SGP +12.1% 1,023 -26.4% 752 -14.4% 644 202 942 181 800 154 584 383 516 147 165 -2.3% -24.5% -24.2% 123 312 228 223 169 128 31 34 38 71 2018 2019 2020 2021 6M/202
Slide 16: LPG Sales Volume: Industrial
Yearly Quarterly LPG Sales Volume (‘000 tons) LPG Sales Volume (‘000 tons) YoY: Total +12.7% | SGP +18.1% +12.4% 677 -3.8% 679 651 -7.2% QoQ: Total -3.1% | SGP -3.4% 604 515 369 188 182 491 537 161 469 -1.4% 289 147 142 -15.6% +5.4% 128 162 160 135 142 81 34 41 40 2018 2019 2020 2021 6M/2022 2Q'21 1
Slide 17: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 17
Slide 18: LPG Oversea
LPG OVERSEA
Slide 19: Butane, Propane and Brent oil prices
960 USD/TON JAN 577.5 920 1000 2020 2021 860 DEC 455.0 830 795 775 900 8 3 1 +7.5 Q1 +7.5 +155.0 750 750 940 710 895 800 665 Q2 -115.0 -82.5 655 870 850 620 595 590 585 800 795 700 Q3 +20.0 +137.5 775 545 530 530 750 525 740 480 475 600 460 Q4 +95.0 +107.5 665 440 660 625 620 605 380 500 Propane [C3
Slide 20: Wholesale sale volume
6M/2022 Related party, 441,371 , Third party, 1,654,000 15.9% 39.9% 40% 659,300 , Target growth success 60% WHOLESALE YoY -14.6% QoQ -14.0% 1,434,873 1,426,789 1,241,420 46.2% 356,980 354,407 304,893 942,946 of 2021 659,300 2Q|21 1Q|22 2Q|22 Sale volume (ton) (Quarterly) 2018 2019 2020 2021 6M/2022
Slide 21: Overseas sale volume
•520,120 TON • 70,714 TON • 45,303 TON • 8,303 TON •YoY -14.8% •YoY +3.2% •YoY +57.3% •YoY +0.4% •QoQ -33.1% •QoQ +2.1% •QoQ +27.2% •QoQ +10.3% 1,196,000 8.7% 53.9% CHINA MALAYSIA VIETNAM SINGAPORE 80.7% 11.0% 7.0% 1.3% Target growth success YoY -8.6% 1,477,277 1,416,848 QoQ -26.1% 1,194,386 1,100,0
Slide 22: Trading sale volume
50.6% 39.9% 5.4% 3.5% 0.6% Trading 2,850,000 12.8% 45.7% China Malaysia Vietnam Singapore Target growth success 2,851,721 YoY -11.9% 2,435,806 2,526,815 2,420,223 QoQ -20.1% 51.6% 724,882 of 2021 656,863 578,858 1,303,740 2Q|21 1Q|22 2Q|22 2018 2019 2020 2021 6M/2022 Sale volume (ton) (Quarterly) Sa
Slide 23: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 23
Slide 24: Power Plant
POWER PLANT
Slide 25: Power plant sale volume
230 MW. COMBINE CYCLE 10 MW. DIESEL POWERPLANT POWERPLANT SELL TO GOVERNMENT >>> SELL TO HOUSEHOLD >>> ANNUALLY | SALE VOLUME (MW.) 1,358,415 YoY YoY 1,256,970 1,268,385 -13.8% -16.8% 47.8% 6,580 6,750 of 2021 -47,192 MW. 44.2% -304 MW. 4,964 of 2021 606,054 QoQ 2,982 QoQ -5.1% +1.7% -15,704 MW. +25
Slide 26: Liquid Tank Farm and Deep Sea Port
LIQUID TANK FARM AND DEEP SEA PORT
Slide 27: Liquid tank farm and oil trading sale volume
LIQUID TANK FARM & OIL TRADING OVERSEA DEEP SEA PORT SERVICE BUSINESS UNIT CAPACITY OCCUPIED ANNUALY | SALE VOLUME (BARRELS) OCCUPIED AVALABLE YoY (MIL.LITRE) BY 1,969,494 -55.4% 4 15.27 2 2 2 -356,892 Barrel (avg. 3.82/unit) 31.8% 1,204,225 of 2021 4 27.05 0 0 4 QoQ (avg. 6.76/unit) 626,122 -15.0%
Slide 28: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 28
Slide 29: Financial Report 2Q/2022
FINANCIAL REPORT 2Q/2022
Slide 30: Revenue breakdown Thailand and Oversea
6M/2022 Thailand 18.0% 6M/2021 Oversea 82.0% Thailand 23.4% Oversea 76.6% Offshore 38.1% Offshore 36.7% Thailand Oversea business Oversea 16.9% 43.9% Thailand business 20.9% 39.8% Other Other (Service & (Service & Other & Other & Logistic Dividend) Dividend) Logistic 0.2% 2.1% 0.4% 0.9% 30
Slide 31: Consolidated revenue 6M/2022
6M/2022 Consolidated revenue of Bt.51,740 m shows a +45.9% yoy growth YoY YoY QoQ Unit : Million Baht +45.9% +37.7% -7.7% +16,271 M.Baht +6,793 M.Baht -2,074 M.Baht 79,511 69,103 67,442 1,491 65.1% TOTAL REVENUE of 2021 26,907 840 607 55,641 24,032 24,833 51,740 242 328 1,123 51,740 20,010 248 570 1
Slide 32: Consolidated EBITDA 6M/2022
6M/2022 Consolidated EBITDA of Bt.2,400 m shows a 14.4% yoy decline Unit : Million Baht YoY YoY QoQ EBITDA -14.4% -5.8% -59.9% EBITDA MARGIN -404 M.Baht -42 M.Baht -1,026 M.Baht 7,00 0 6,634 15% 2,50 0.00 15.00 % 6,00 0 13% 2,075 13.00 % 1,755 1,713 2,00 0.00 25.8% 11% 11.00 % 5,00 0 4,327 of 2021 9
Slide 33: Consolidated net profit 6M/2022
6M/2022 Consolidated NET PROFIT of Bt.1,166 m shows a -22.1% yoy decline Unit : Million Baht YoY YoY QoQ NET PROFIT -22.1% +1.3% -82.2% 4,00 0.00 NET PROFIT MARGIN 3,809 9.00% -330 M.Baht +2 M.Baht -813 M.Baht 8.00% 3,50 0.00 1,40 0.00 1,321 10.00 % 30.1% 7.00% 3,00 0.00 9.00% 1,20 0.00 2,50 0.00 of
Slide 34: Assets, liabilities and equity
ASSET (THB Million) LIABILITIES (THB Million) EQUITY (THB Million) Cash & Equivalents Inventory Short term loan Current liabilities Total Equity Other asset PP&E Long term Debt Non current liabilities 50,894 -1.6% 50,083 +0.5% 2,611 34,101 -2.6% 16,874 2,665 33,209 16,793 11,153 9,311 9,213 6,619 13
Slide 35: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 35
Slide 36: LPG Sales Volume outlook 2022
LPG Sales Volume (Tons) SALES VOLUME 2022 Sales volume (TONs) 2019 2020 2021 Outlook 2022 6M|2022 % Success SGP - Thailand SGP Offshore Trading SGP - Thailand 983,246.31 811,385.58 759,967.81 800,000 398,542.83 49.8% China Vietnam Offshore Trading 1,434,872.89 1,241,419.64 1,426,789.43 1,654,000 659
Slide 37: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 37
Slide 38: Dividend policy and historical dividend payment
DIVIDEND POLICY HISTORICAL DIVIDEND PAYMENT The Company has established the policy to 2022 0.20 pay dividends to the shareholders at the 2021 0.20 0.80 rate of not less than 40% of the net profit 2020 0.10 0.40 after corporate income tax, accumulated 2019 0.10 0.25 loss brought forward (if any) and
Slide 39: Agenda
THAILAND OVERSEA BUSINESS OTHER LPG LPG OVERVIEW BUSINESS BUSINESS BUSINESS FINANCIAL BUSINESS DIVIDEND Q&A RESULTS OUTLOOK POLICY 39
Slide 40: Questions are welcomed!
@* QUESTIONS ARE WELCOMED ! 40
Siamgas and Petrochemicals Public Company — Q2 2022 Earnings Presentation on 6ix