Tpi Polene Power Public Co., Ltd. · SET:TPIPP

Tpi Polene Power Public — Investor Presentation (2021)

48 slides from Tpi Polene Power Public's investor presentation, 2021

  1. Slide 1: TPI Polene Power Public Company Limited Investor Presentation

    TPI Polene Power Public Company Limited Investor Presentation

  2. Slide 2: Table of Content

    Table of Content Section 1.Company & Business Overview 2.Financial Highlights 3.Key Operation Highlights Strictly Private & Confidential 1

  3. Slide 3: Company & Business Overview

    Company & Business Overview Strictly Private & Confidential 2

  4. Slide 4: TPIPP as TPIPL's Flagship for Power Business

    TPIPP as TPIPL’s Flagship for Power Business Unit: THBmm TPIPP (Q1 2021) Main Business Electricity generation from waste heat and refused derived fuel (RDF) power plants and operation in petrol and gas stations. Total Revenue 2,725 Operating EBITDA * 1,403 Net Profit 1,061 Total Assets 44,325 Cement

  5. Slide 5: TPIPP at a Glance

    TPIPP at a Glance TPIPP is the largest operator of waste-to-energy (“WTE”) power plants in Thailand in terms of installed power generation capacity Key Business Segments % of Q1 2021 Total Sales Revenue  Operates refuse derived fuel (“RDF”) fired & waste-heat recovery power plants with off-take arr

  6. Slide 6: Summary of TPIPP's Power Plant Operations

    Summary of TPIPP’s Power Plant Operations TPIPP’s Power Plants (Operational & Under Construction) TPIPP’s Installed Capacity Breakdown by Fuel MW Total capacity in operation 440 MW Waste Heat RDF Coal/RDF Coal 440 Installed Power Plant COD Off taker Capacity 180 In operation 290 WHPP-40MW Jun 2009 4

  7. Slide 7: Summary of TPIPP's Petrol & Gas Station Operations

    Summary of TPIPP’s Petrol & Gas Station Operations  TPIPP primarily sells petrol and gas to retail customers under the “TPIPL” brand  The Company was granted the license to use the trademark of TPIPL in accordance with a 10-year trademark licensing agreement dated March 7, 2016 between the Company

  8. Slide 8: Mutually Beneficial Support Framework with TPIPL

    Mutually Beneficial Support Framework with TPIPL Complementary Sale & Purchase Relationship with TPIPL Supports Continuing Development of Both Companies Backing and Continuing Support from Recognized Shareholder, TPIPL  One of the leading cement manufacturers in the country TPIPL General Public fou

  9. Slide 9: Financial Highlights

    Financial Highlights Strictly Private & Confidential 8

  10. Slide 10: Revenue

    Revenue Diversified Revenue Streams Led by Growing Revenues from Energy & Utilities Division Total Revenue from Sales of Goods (THBmm) Revenue from Energy & Utilities (THBmm) 11,119.4 10,586.8 9,851.5 39.6 10,571.2 44.2 532.6 1,982.8 719.7 2,131.2 7,676.0 8,564.4 2,656.4 2,522.5 2,374.5 12.5 9.1 11.

  11. Slide 11: Cost of Sales & Gross Profit

    Cost of Sales & Gross Profit Q1 Y2021 Cost of Sales Breakdown (THBmm) Gross Profit (THBmm) and Gross Profit Margin(1) (%) Energy & Utilities: 47.7% 48.0% 48.5% 45.8% 44.4% Raw materials & 5,041.5 5,091.7 Labor 10% Fuel 41% 85.2 58.1 Maintenance 7% Others 13% Electricity Depreciation 15% 14% Waste He

  12. Slide 12: Cost & Expenses vs. EBITDA & NPAT

    Cost & Expenses vs. EBITDA & NPAT Cost & Expenses Items (THBmm) Operating EBITDA(1) (THBmm) and Operating EBITDA margin(2) (%) 7,400.0 6,812.0 51.7% 50.8% 52.3% 52.9% 50.2% 285.2 6,400.0 6,197.0 432.7 159.5 66.4 432.2 75.7 5,400.0 5,461.8 5,650.7 1,273.5 1,454.1 1,403.1 4,400.0 2019 2020 Q1 2020 Q4

  13. Slide 13: Comparing Profit and Loss Statement – YoY and QoQ

    Comparing Profit and Loss Statement – YoY and QoQ Unit :THBmm 2019 2020 2020 2020 2021 Compare (%) 12M 12M Q1 Q4 Q1 YoY (12m) YoY (Q) QoQ Income Revenue from base tariff 5,574.1 5,761.0 1,275.2 1,421.9 1,285.0 3.4% 0.8% -9.6% Revenue from power adder 4,233.2 4,786.1 1,086.8 1,225.4 1,226.4 13.1% 12.

  14. Slide 14: Operating Statistic

    Operating Statistic Generated Amount of Electricity (M.KWh) and Capacity (MW) 2020 2021 Diff %Change 615.3 Q1 474.00 504.90 +30.90 +6.52% 554.9 545.5 531.3 Q4 2020 Q1 2021 Diff %Change 510.9 504.9 492.0 3M 554.88 504.90 -49.98 -9.01% 478.9 474.0 392.4 354.4 301.3 259.3 233.0 209.7 197.1 181.4 178.3

  15. Slide 15: Debt Profile and Leverage Ratios

    Debt Profile and Leverage Ratios Interest Bearing Liabilities (THBmm) Cash / Cash Equivalents & Other current financial assets (THBmm) Increase in long-term loans from financial institution and related parties 12,899.7 12,664.0 4,230.7 4,410.8 3,340.3 3,286.8 3,426.2 8,000.0 7,054.2 4,000.0 285.9 20

  16. Slide 16: Key Operation Highlights

    Key Operation Highlights Strictly Private & Confidential 15

  17. Slide 17: TPIPP's WTE Power Plant Situation

    1 TPIPP’ S WTE Power Plant Situation Capacity 2009 2016 & 2017 2018 2019-2020 60 MW 70 MW 110 MW 260 MW Power Plants TG1 20 MW with TG1 20 MW TG1 20 MW TG1 20 MW Electricity TG2 20 MW Sales to TG2 20 MW TG2 20 MW TG2 20 MW TPIPL TG7 (3) 70 MW TG4 30 MW TG4 30 MW TG7 70 MW TG8 (4) 150 MW - 80 MW (PPA

  18. Slide 18: COD and ADDER Schedule for each plant

    1 TPIPP’ S WTE Power Plant Situation COD and ADDER Schedule for each plant Expiration of SPP PPA TG COD ADDER ADDER 1 18 MW TG3 16 JAN 2015 7Y JAN 2022 2 55 MW TG5 6 Aug 2015 7Y AUG 2022 3 90 MW TG4+TG6 18 APR 2018 7Y APR 2025 Strictly Private & Confidential 17

  19. Slide 19: COD and BOI Schedule for each plant

    1 TPIPP’ S WTE Power Plant Situation COD and BOI Schedule for each plant TAX TG Type Off taker COD INCENTIVE TG 1-2 WH TPIPL Jun 2009 8Y TG 3 RDF EGAT Jan 2015 8Y TG 4 WH TPIPL/EGAT Jan 2016/Apr 2018 8Y TG 5 RDF EGAT Aug 2015 8/5 Y TG 6 RDF EGAT Apr 2018 8Y TG 7 Coal/RDF TPIPL Aug 2018 - TG 8 Coal T

  20. Slide 20: Trend of FT Adjustment Sell for SPP

    1 TPIPP’ S WTE Power Plant Situation Trend of FT Adjustment Sell for SPP 0.0000 -0.0500 -0.1000 -0.1383 -0.1500 -0.1951 -0.2000 -0.2254 -0.2500 -0.2632 -0.2802 -0.3016 -0.3000 -0.3195 -0.3058 -0.3406 -0.3500 -0.3477 -0.3623 -0.4000 -0.4500 -0.4715 -0.5000 Strictly Private & Confidential 19

  21. Slide 21: Trend of FT Adjustment Sell for TPIPL

    1 TPIPP’ S WTE Power Plant Situation Trend of FT Adjustment Sell for TPIPL 0 Jan-17 May Sep Jan-18 May Sep Jan-19 May Sep Jan-20 May Sep Jan-21 May -0.05 -0.1 -0.1160 -0.1243 -0.1590 -0.15 -0.1532 -0.2 -0.25 -0.2477 -0.3 -0.35 -0.3729 -0.4 Strictly Private & Confidential 20

  22. Slide 22: Improvement of Power Plants Utility (with PPA with EGAT)

    1 TPIPP’ S WTE Power Plant Situation Improvement of Power Plants Utility (with PPA with EGAT) WHB AQC ,SP 1 WHB AQC ,SP 2 SPP3 -18MW -2015 WHB AQC ,SP 3 G3 RDF WHRP 20 MW RDF B1 RDF B9 RDF B10 G4 WHRP Power Plant 30 MW WHB AQC, SP 4 SPP2 - 90MW –Q2 2018 RDF B4 RDF B5 G6 RDF Power Plant 70 MW INCINER

  23. Slide 23: Power Plants PPA with TPIPL

    1 TPIPP’ S WTE Power Plant Situation Power Plants PPA with TPIPL WHB AQC ,SP 1 G1 WHRP Power Plant 20 MW WHB AQC ,SP 2 G2 WHRP Power Plant 20 MW WHB AQC ,SP 3 B8 G8 Power Plant 150 MW B6 SELL STEAM Strictly Private & Confidential 22

  24. Slide 24: Power Plants PPA with TPIPL Fuel Change to MSW

    1 TPIPP’ S WTE Power Plant Situation Power Plants PPA with TPIPL Fuel Change to MSW PPA with EGAT in 2022 INCINERATOR B15 INCINERATOR B14 G7 Power Plant 40 (70) MW INCINERATOR B13 Strictly Private & Confidential 23

  25. Slide 25: Grate Boiler B13 B14 B15

    1 TPIPP’ S WTE Power Plant Situation Grate Boiler B13 B14 B15 Strictly Private & Confidential 24

  26. Slide 26: Electricity Sale and Revenue

    1 TPIPP’ S WTE Power Plant Situation Electricity Sale Unit 3,000 2,498 2,500 Million Kwh 2,174 1,978 2,000 1,365 1,442 1,500 1,210 1,056 SPP 1,000 768 809 TPIPL 500 TOTAL 85% 40% 59% 95% 42% 64% 99% 69% 85% - Utilization Rate 2019 2020 Estimate 2021 Revenue 14,000 11,809 12,000 Million Baht 10,590 9

  27. Slide 27: RDF Production Plan 2021

    2 MSW and RDF Raw materials Management RDF Production Plan 2021 Raw Mat RDF Grate MSW 2,500 300 2,200 LF 3,000 2,550 450 RDF 1,500 1,500 Ton per day 7,000 4,350 2,650 Strictly Private & Confidential 26

  28. Slide 28: A solid waste management center

    2 MSW and RDF Raw materials Management A solid waste management center Saraburi Plant Others Province MSW MSW MSW Pre-sorting Mat MSW Transfer station RDF Plant 5 Plants +Suppliers RDF Plant Heavy Parts RDF Presorting Plant 11 Plants ATAD MBT +Suppliers RDF-L Grate Boiler Fertilizer CFB Boiler Cemen

  29. Slide 29: RDF Production

    2 MSW and RDF Raw materials Management RDF Production Plant capacity 200 ton/day Total Production 1000 ton/day Strictly Private & Confidential 28

  30. Slide 30: Presorting Plant Pre-Sorting Production

    2 MSW and RDF Raw materials Management Presorting Plant Pre-Sorting Production Plant Capacity 200 ton/day 1. Nakornratchasima 2. Ayuttaya 3. Samutsakorn 4. Rayong 5. Chonburi 6. Saraburi 7. Chonburi ( Bowin) 8. Chanthaburi 9. Phatumtani 10.Ayuttaya 11.Lopburi Strictly Private & Confidential 29

  31. Slide 31: RDF Supply for Cement Kiln Plants

    2 MSW and RDF Raw materials Management RDF Supply for Cement Kiln Plants • RDF requirement for coal replacement in 3 Kiln Plants is 1,200 -1,500 ton per day • Production and Selling RDF to TPIPL is 360,000-450,000 Ton per year • Estimate Revenue for RDF selling 350-450 Mil baht per year • Investment

  32. Slide 32: WTE Future Project

    3 WTE Future Project Capacity 2021 2022 2023 2025 260 MW 190 MW 190 MW 190 MW. TG1 20 MW Power Plants TG1 20 MW TG1 20 MW TG1 20 MW with TG2 20 MW Electricity TG7 70 MW TG2 20 MW TG2 20 MW TG2 20 MW Sales to TPIPL TG8 150 MW TG8 150 MW TG8 150 MW TG8 150 MW 180 MW (PPA 163 MW) 250 MW (PPA 203 MW) 28

  33. Slide 33: WTE Future Project

    3 WTE Future Project Project MSW Capacity PPA Plan COD Status (ton/day) (MW) (MW)  TG7 - 70 40 2022 Pending Approval  Songkla 500 10 7.92 2023 WINNER  Korat 500 12 9.9 2023 WINNER  Naklang 500 10 8 2023 TOR  Chonburi 2x500 2X12 2x9.9 2024 FS  Ubonratchatani 500 12 9.9 2024 FS  Samutprakan 3x5

  34. Slide 34: WTE Future Project

    3 WTE Future Project Strictly Private & Confidential 33

  35. Slide 35: WTE Future Project: Songkla Provincial Administrative Organization

    3 WTE Future Project Songkla Provincial administrative Oraganization MSW 500 ton/day Boiler Install Capacity 2x350 ton/day Generator Capacity 12 MW Net Contract capacity 8.0 (9.9) MW MSW Tipping fee 350 Baht/ton +10 % Every 3 year Electricity Price 5.78 Baht/Kwh Year 1-8 5.07 Baht/Kwh Year 9-20 Inve

  36. Slide 36: Winning bidder announcement

    ประกาศผู้ชนะการเสนอราคาจัดหาเอกชนร่วมทุนก่อสร้างและบริหารจัดการระบบกาจัดขยะมูลฝอย Strictly Private & Confidential 35

  37. Slide 37: WTE Future Project: Municipality Muang Nakorn Ratchasrima

    3 WTE Future Project Municipality Muang Nakorn Ratchasrima MSW 500 ton/day Boiler Install Capacity 2x350 ton/day Generator Capacity 12.0 MW Net Contract capacity 9.9 MW MSW Tipping fee 300 Baht/ton + Inflation rate every 3 year Electricity Price 5.78 Baht/Kwh Year 1-8 5.07 Baht/Kwh Year 9-20 Investm

  38. Slide 38: WTE Future Project: Municipality Thap Kwang Saraburi

    3 WTE Future Project Municipality Thap Kwang Saraburi RDF and MSW TG 7 Boiler Install Capacity B13-15 3x 750 ton/day Generator Capacity 70 MW Net Contract capacity 40 MW Electricity Price 3.66 Baht/Kwh Investment Cost 500 Mil Baht Revenue 1,200 Mil Baht / year Status Under Implement COD 2022 Strictl

  39. Slide 39: Strictly Private & Confidential

    Strictly Private & Confidential 38

  40. Slide 40: TPIPP Greenhouse Gas Reduction: Mitigation Mechanism

    4 TPIPP Greenhouse Gas Reduction Greenhouse Gas Mitigation Mechanism Thailand Greenhouse Gas Management Organization ( TGO) 1.Thailand Voluntary Emission Reduction Project ( T-VER )  TVERs Carbon Credit 82,056 Ton  Results-Based Payment 39,197 Ton  Zukunft des Kohlenstoffmarketes foundation 4 EU/

  41. Slide 41: TPIPP Greenhouse Gas Reduction

    4 TPIPP Greenhouse Gas Reduction Green Power Plant YEAR 2020 220 / 440 50 % YEAR 2021 150 / 440 34 % YEAR 2023 127 / 476 27 % B8 RDF replacement 15 % YEAR 2025 127 / 526 24 % Coal Power Plant Capacity Per Total Power Plant Capacity Strictly Private & Confidential 40

  42. Slide 42: TPIPP Greenhouse Gas Reduction

    4 TPIPP Greenhouse Gas Reduction WTE 1 Ton MSW 2.32 Ton POWER PLANT 1.3 mil Ton-RDF 4 mil Ton-MSW 10 mil Ton-CO2 RDF FOR CEMENT PLANT 0.65 mil Ton-RDF 2 mil Ton-MSW 5 mil Ton-CO2 Strictly Private & Confidential 41

  43. Slide 43: TPIPP Certification and Awards 2021

    4 TPIPP Certification and Awards 2021 SOCOTEC CERTIIFICATION INTERNATIONAL Strictly Private & Confidential 42

  44. Slide 44: Smart City Clean Energy Center

    5 Future MEGA Project Southern Economic Zone (SEZ) New Generation Technology Industrial Park Smart City Deep sea Ports and Distribution Center Clean Energy Center Strictly Private & Confidential 43

  45. Slide 45: The development of Southern Economic Zone (SEZ)

    5 Future MEGA Project The development of Southern Economic Zone (SEZ) ― On October 4th 2016, the cabinet had a resolution to approve the promotion of the “Triangle of Security, Prosperity, Sustainability” for 4 prototype cities. 1. Betong District, Yala Province 2. Su ngai go lok District, Narathiwa

  46. Slide 46: The development of Southern Economic Zone (SEZ) (Continue)

    5 Future MEGA Project The development of Southern Economic Zone (SEZ) (Continue) ― On January 21st 2020, the cabinet had a resolution to approve and acknowledge the SCSDC’s resolution on Oct 31st. ― On July 16th 2020, the SCSDC had a resolution to approve the SBPAC to contact all needed government a

  47. Slide 47: Q&A

    Q&A Strictly Private & Confidential 46

  48. Slide 48: Strictly Private & Confidential

    Strictly Private & Confidential 47

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