Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q3 2023 Earnings Presentation
35 slides from Siamgas & Petrochemicals Public's earnings presentation, 2023
Slide 1: 3Q/2023 Performance
3Q/2023 Performance SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED
Slide 2: Agenda
AGENDA 01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 2
Slide 3: Major Shareholders
Domestic Fund MAJOR SHAREHOLDERS 0.1% (Weeraborwornpong Group) PUBLIC Retail 55.3 13.5% Foreign 821.32 % 29.7% Million Shares 1,837.86 Thai NVDR 1.4% Million Shares PUBLIC 44.7 % Latest book closing : On 14 MAR 2023 3
Slide 4: Company history and business acquisitions
Business acquisition Business acquisition Investment Business acquisition LPG Business LPG Business POWERPLANT CYLINDER MANUFACTURER SUPERGAS in Vietnam MYGAZ in Malaysia 10 MW. DIESEL LINH GAS in Thailand Founded Founded SINGGAS in Singapore CITYGAS NORTH in Vietnam in Myanmar the company logistic
Slide 5: Thailand and Oversea businesses
THAILAND OVERSEA 1 LIQUEFIED PETROLEUM GAS (LPG) LIQUEFIED PETROLEUM GAS (LPG) • Singapore 2 ROAD TRANSPORTATION • China 1 • Malaysia 3 MARINE TRANSPORTATION • Vietnam • Laos 4 CYLINDER MANUFACTURING COMBINE CYCLE POWER PLANT 2 5 OIL RETAIL BUSINESS • Myanmar DIESEL POWER PLANT CONTAINER TERMINAL SE
Slide 6: Thailand and Oversea Q3/2023 highlights
THAILAND Domestic sale volume in Q3/2023 decreases 0.5% compare to the same period last year due to demand decreases in Automotive and Industrial which decreases 1.8% and 4.2% respectively. Domestic sale volume of SGP increases 0.9% compare to the same period last year. Cooking gas drops 4.2% due to
Slide 7: LPG business
LPG business OTHER business 7
Slide 8: Agenda
AGENDA 01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 8
Slide 9: SGP Terminal
SGP Terminal Fill in LPG cylinder for delivery. Transport LPG from separation plant by truck tanker to the Company’s Terminal and Depot. Sathupradit Terminal Bangpakong Terminal Suksawat Terminal Songkhla Terminal Suratthani Terminal (2) Transport LPG from refineries by vessel to Nakornsawan Depot t
Slide 10: LPG Proportion
YoY: Total -0.5% | SGP +0.9% -5.3 % -10.8 +7.4 % -0.5 % 3,799 % QoQ: Total +3.8% | SGP +0.8% 3,389 3,372 3,626 2,709 Unit : ‘000 tons Quarter 913.92 875.97 909.03 Year -3.3 % -15.4 -5.8 % % +5.3 % 952 805 759 775 588 193.40 TOTAL 193.64 195.18 SIAMGAS 2019 2020 2021 2022 9M/2023 3Q'22 2Q'23 3Q'23 LP
Slide 11: LPG sales volume: cooking gas
YoY: Total +1.3% | SGP -4.2% -1.8 -4.4 +0.8 % +1.2 % % % QoQ: Total +4.5% | SGP +2.2% 2,125 2,033 2,049 2,095 Unit : ‘000 tons Quarter 1,558 517.22 501.39 523.96 Year -4.2 % -11.7 -2.6 -0.3 % % % 569 LPG 502 489 488 347 TOTAL 119.56 112.07 114.50 SIAMGAS 2019 2020 2021 2022 9M/2023 3Q'22 2Q'23 3Q'23
Slide 12: LPG sales volume: automotive
YoY: Total -1.8% | SGP +4.3% -12.6 % 1,023 -26.4 +25.4 QoQ: Total +3.6% | SGP +3.2% % -14.4 % % Unit : ‘000 tons 752 799 644 Quarter Year 611 210.59 -2.3 199.59 206.79 % -24.5 -24.2 +16.5 % % % 223 169 128 147 116 TOTAL 37.74 38.15 39.35 SIAMGAS 2019 2020 2021 2022 9M/2023 3Q'22 2Q'23 3Q'23 Others (
Slide 13: LPG sales volume: industrial
YoY: Total -4.2% | SGP +14.5% +8.8 -3.8 +12.4 % % -7.2 % % QoQ: Total +1.9% | SGP -4.8% 651 679 732 604 Unit : ‘000 tons 540 Quarter 186.12 174.99 178.28 Year -1.4 -15.6 +14.7 +5.4 % % % % LPG 160 135 142 140 126 36.10 43.43 TOTAL 41.32 SIAMGAS 2019 2020 2021 2022 9M/2023 3Q'22 2Q'23 3Q'23 Market Sh
Slide 14: Agenda
AGENDA 01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 14
Slide 15: LPG and Oil price
960 USD/TON LPG 920 860 1000 Propane [C3] 830 795 790 775 750 750 900 740 725 Butane [C4] 710 940 665 660 655 650 895 800 630 620 870 610 605 850 595 585 560 560 555 800 545 795 700 790 530 530 525 775 750 740 475 725 720 460 600 440 670 665 660 650 650 375 625 620 610 605 500 590 590 560 555 555 55
Slide 16: Supply and Floating Storage
USA 30 1.5 30 5 45 Middle East 5.5 8 12 7 Supply from Middle East 3 Supply from Australia 2.5 Supply from USA 0.75 Receiving and distribution point 1 Delivery time Australia 7 Floating Storage 16
Slide 17: Offshore trading volume
YoY -13.8% QoQ +8.5% 1,434,873 Quarter 1,416,870 1,426,789 Year 1,241,420 387,357 333,951 307,880 tons tons 2019 2020 2021 2022 9M/2023 3Q|22 2Q|23 3Q|23 O 1,600,000 Third Party u Target Total sales 1,023,102 Ton 53.55% t 1,910,591 12.9% l tons growth Subsidiary o 887,849 Ton o 63.9% 46.45% k succes
Slide 18: Overseas retail sales volume
YoY +44.0% QoQ +19.2% Quarter 1,416,848 1,382,207 Year 1,194,386 1,100,025 435,884 365,636 302,798 tons tons 2019 2020 2021 2022 9M/2023 3Q|22 2Q|23 3Q|23 O 1,588,500 u Target t 14.9% l CHINA MALAYSIA VIETNAM SINGAPORE LAOS growth 566,792 TON 44,534 TON 44,534 TON 8,696 TON 294 TON o o 71.3% 82.4% 1
Slide 19: Total oversea sales volume
YoY +11.5% QoQ +14.3% 2,851,721 Quarter 2,799,077 Year 2,526,815 2,435,806 769,834 690,155 673,517 tons tons 2019 2020 2021 2022 9M/2023 3Q|22 2Q|23 3Q|23 Proportion sale by country O 3,188,500 u Target t 13.9% 47.4% 43.3% 5.4% 3.2% 0.6% 0.1% l Trading China Malaysia Vietnam Singapore Laos growth o
Slide 20: Agenda
AGENDA 01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 20
Slide 21: Power Plant
POWER PLANT 21
Slide 22: Combine cycle and diesel power plant
230 MW. 10 MW. COMBINE CYCLE POWERPLANT DIESEL POWERPLANT SELL TO GOVERNMENT >>> SELL TO HOUSEHOLD >>> SELL TO HOUSEHOLD >>> ANNUALLY | SALE VOLUME (MW.) ANNUALLY | SALE VOLUME (MW.) +8.1% -6.6% YoY YoY 1,358,415 +32.5% +2.6% 1,268,385 -10.8% -7.5% -1.9% 1,131,506 6,580 6,750 -16.9% 863,091 -22,851
Slide 23: Liquid Tank Farm and Deep Sea Port
LIQUID TANK FARM AND DEEP SEA PORT 23
Slide 24: Liquid tank farm and oil trading
LIQUID TANK FARM & DEEP SEA PORT SERVICE OIL TRADING OVERSEA BUSINESS No. Total Number of Utilized ANNUALLY | SALE VOLUME (BARRELS) Capacity Liquid Tank As 30 Sep 2023 (Mil.Liter) +63.5% YoY 1 15.27 4 (avg. 3.82/unit) 2 2 1,969,494 +100.0% 2 27.05 4 1,204,225 +382,902 Barrel 4 -68.2% (avg. 6.76/unit
Slide 25: Agenda
AGENDA 01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 25
Slide 26: Revenue structure 9M/2023 vs 9M/2022
9M/2023 9M/2022 Thailand 25.6% Thailand 20.0% (Thailand LPG, Logistic & Other) (Thailand LPG, Logistic & Other) Oversea 74.4% Oversea 80.0% (Offshore Trading & Retail Oversea Business) (Offshore Trading & Retail Oversea Business) 68,369 Million Baht 76,954 Million Baht Offshore Offshore Thailand 33.
Slide 27: 9M/2023 Consolidated Revenue
9M/2023 Consolidated REVENUE of Bt.68,369 m shows a -11.2% yoy decline YEARLY 9 MONTH QUARTERLY Unit : Million Baht YoY YoY QoQ +29.8% -11.2% -8.9% +11.3% 103,198 -8,585 M.Baht -2,242 M.Baht +2,336 M.Baht 1,587 +49.2% 79,511 -2.4% 67,442 1,491 68,369 -17.5% -11.2% 76,954 607 55,641 82,261 714 68,369
Slide 28: 9M/2023 Consolidated EBITDA
9M/2023 Consolidated EBITDA of Bt.2,242 m shows a 25.0% yoy decline YEARLY 9 MONTH QUARTERLY EBITDA YoY YoY QoQ EBITDA MARGIN -25.0% +271.9% +167.5% +53.3% -748 M.Baht +1,606 M.Baht +3,018 M.Baht 7000 6,634 14.00% 6000 3500 10.00% +167.5% +30.5% 12.00% 2,990 2,197 9.00% -25.0% 2500 14.00% 3000 4,327
Slide 29: 9M/2023 Consolidated Net Profit
9M/2023 Consolidated NET PROFIT of Bt. 260 m shows a -76.6% yoy decline YEARLY 9 MONTH QUARTERLY NET PROFIT YoY YoY QoQ NET PROFIT MARGIN -76.6% +2377.8% +198.0% -851 M.Baht +1,284 M.Baht +2,485 M.Baht +84.7% +198.1% 4000 3,809 9.00% 1500 1,230 10.00% 1,111 8.00% 8.00% 3500 1200 3.00% 1000 +692.7% 7
Slide 30: Assets, liabilities, equity and debt
ASSET (THB Million) LIABILITIES (THB Million) EQUITY (THB Million) PP&E Other asset Shot term loan Current liabilities Total Equity Inventory Cash & Equivalents Long term Debt Non current liabilities +18.1% 55,613 47,072 4,153 +27.2% 39,690 3,457 10,367 15,880 +0.3% 15,923 6,390 31,191 7,952 Million
Slide 31: Agenda
AGENDA 01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 31
Slide 32: LPG Sales Volume Outlook 2023
LPG Sales Volume (Tons) OUTLOOK 2023 Sales volume (TONs) 2021 2022 9M/2022 Outlook 2023 9M|2023 % success Growth(%) SGP - Thailand SGP Offshore Trading SGP - Thailand 759,967.81 803,364.39 579,118.81 860,000 605,308.56 70.4% 4.5% China Vietnam Offshore Trading 1,426,789.43 1,416,869.82 1,046,657.07
Slide 33: Agenda
AGENDA 01 BUSINESS OVERVIEW 02 THAILAND LPG BUSINESS 03 OVERSEA LPG BUSINESS 04 OTHER BUSINESS 05 FINANCIAL RESULTS 06 BUSINESS OUTLOOK 07 DIVIDEND POLICY 33
Slide 34: Dividend Policy and Historical Dividend Payment
DIVIDEND POLICY HISTORICAL DIVIDEND PAYMENT The Company has established the policy to pay 2023 0.10 Interim dividends to the shareholders at the rate of 2022 0.20 0.20 Final not less than 40% of the net profit after 2021 0.20 0.80 corporate income tax, accumulated loss 2020 0.10 0.40 2019 0.10 0.25
Slide 35: Thank You
THANK YOU 02-120-9999 # 3611,3612 Sgp_ir@ugp.co.th www.siamgas.com 553 The Palladium Building 30th Floor, Ratchaprarop Rd., Makkasan, Ratchathewi, Bangkok 10400 Thailand.
Siamgas and Petrochemicals Public Company — Q3 2023 Earnings Presentation on 6ix