Siamgas & Petrochemicals Public Co. Ltd. · SET:SGP
Siamgas & Petrochemicals Public — Q2 2024 Earnings Presentation
35 slides from Siamgas & Petrochemicals Public's earnings presentation, August 2024
Slide 1: 2Q/2024 Performance
2Q/2024 Performance SIAMGAS AND PETROCHEMICALS PUBLIC COMPANY LIMITED
Slide 2: 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 0.05% (Weeraborwornpong Group) PUBLIC Retail 55.7 12.94% Foreign 814.32 % 29.99% Million Shares Thai NVDR 1,837.86 1.32% Million Shares PUBLIC 44.3 % 3 Latest book closing : On 15 MAR 2024
Slide 4: Company history and milestones
® 1976 » Founded the company aura 2016 » Invesment * 230 MW. COMBINE CYCLE POWER PLANT in Myanmar o 200. » Business acqu ‘* UNIQUEGAS a uy = 2018 » Invesment #10 MW. DIESEL POWER PLANT in Myanmar o ion © 2005 2008 > Founded marine and _» Listed in SET land logistic > Setup cylinder it manufacture »
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 3 6 CONTAINER TERMINA
Slide 6: Thailand and Oversea quarter highlights
THAILAND Domestic sale volume in Q2/2024 increased 1.24% compare to the same period last year due to increased in demand from cooking and automotive sectors which increased 0.9% and 5.9% respectively. Domestic sale volume of SGP decreased 4.6% compare to the same period last year. Industrial gas dro
Slide 7: Group business locations
South China, Zhuhai LPG LPG Business SOGEL Vietnam, HaiPhong LPG SUPERGAS Other Business Myanmar, Mawlamying South China, Zhuhai MLIPP LPG Powerplant 230 MW. SINOSIAMGAS Laos Prasansack LPG LPG Business Myanmar, Anin Thailand SMD LPG SIAMGAS & UNIQUEGAS Diesel Powerplant 10 MW. Thailand, Koh Si-Chan
Slide 8: Thailand LPG Business
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: LPG value chain
Customers / Procurement Inbound Logistics SGP Terminal & Depots Outbound Logistics Consumers LPG Transport LPG from separation plant by Fill in LPG cylinder for delivery. truck tanker to the Company’s Terminal COOKING and Depot. Sathupradit Terminal AUTOMOTIVE LPG Bangpakong Terminal Suksawat Termin
Slide 10: LPG market and proportion
+7.4% +0.4% -10.8% -0.5% 3,639 38.9% 3,389 3,626 21.4% Market Share 3,372 Market Year TOTAL Share 2 1,811 SIAMGAS -15.4% -5.8% +5.3% +1.9% 12.7% 805 759 Others 18.4% 775 790 (8 com.) 8.9% 382 Unit : ‘000 tons 2020 2021 2022 2023 6M/2024 YoY: Total +1.3% | SGP -4.6% 61% Siamgas 57% QoQ: Total -3.9% |
Slide 11: Cooking gas market share
-4.4% +0.8% +1.2% -0.05% 2,094 2,033 2,095 2,049 Year TOTAL 1,037 SIAMGAS -11.7% -2.6% -0.3% -4.2% 502 489 488 467 231 Unit : ‘000 tons 2020 2021 2022 2023 6M/2024 YoY: Total +0.9% | SGP +0.6% 47.0% Market Share QoQ: Total -4.7% | SGP -4.8% 22.3% Market Share 2 Quarter 501.39 530.85 505.82 5.8% Othe
Slide 12: Automotive gas market share
+25.4% +3.2% -26.4% 799 825 752 -14.4% 644 Year TOTAL 422 SIAMGAS -24.5% +16.5% +6.2% -24.2% 169 128 147 156 80 Unit : ‘000 tons 2020 2021 2022 2023 6M/2024 YoY: Total +5.9% | SGP +5.8% Others 12.7% Market Share (7 com.) 26.3% 18.9% QoQ: Total +0.1% | SGP +1.8% Market Share 2 Quarter 199.59 211.12 2
Slide 13: Industrial gas market share
+8.8% -1.6% +12.4% 721 -7.2% 732 679 604 Year TOTAL 352 +18.8% SIAMGAS -15.6% +5.4% +14.7% 135 167 142 140 71 Unit : ‘000 tons 2020 2021 2022 2023 6M/2024 YoY: Total -2.6% | SGP -27.0% Market Share 46.7% 20.2% QoQ: Total -6.1% | SGP -19.4% Market Share 2 Quarter 174.99 181.44 170.44 12.1% 16.9% 43.4
Slide 14: Oversea LPG Business
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 Brent crude oil prices
940 USD/TON 895 LPG 850 1000 Propane [C3] 790 775 750 740 900 Butane [C4] 725 720 960 670 920 650 650 630 630 800 620 615 600 610 610 610 860 590 590 580 580 555 555 550 790 700 775 750 740 470 725 450 710 600 400 660 650 640 640 630 630 620 620 620 615 610 605 500 585 565 560 560 555 545 400 460 44
Slide 16: Floating storage supply
USA 30 1.5 30 5 45 Middle East 5.5 8 12 Supply from Middle East 7 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 outlook
Unit : tons OUTLOOK -0.7% 2024 -6.6% 52.8% of Y2023 1,500,000 Target +1.5% YoY -1.1% 1,416,870 1,323,806 699,195 699,195 QoQ -22.9% 13.3% 304,391 growth 689,152 394,804 307,880 46.6% success 2022 2023 2024 6M/2023 6M/2024 2Q|23 1Q|24 2Q|24 YEARLY HALF-YEAR QUARTERLY 17
Slide 18: Oversea sales volume
+6.9% Unit : tons +25.7% HALF-YEAR 37.7% of YoY -19.6% Y2023 -20.1% QoQ +11.9% 1,476,970 1,382,207 556,186 293,771 556,186 365,577 696,072 262,415 Yearly Quarterly 2022 2023 2024 6M/2023 6M/2024 2Q|23 1Q|24 2Q|24 O 1,641,000 Target u t 11.1% l growth CHINA MALAYSIA VIETNAM SINGAPORE LAOS o 441,053 T
Slide 19: Trading sales volume
HALF-YEAR Unit : tons +10.8% +0.1% 44.8% of YoY -11.2% Y2023 -9.4% QoQ -9.0% 2,800,776 1,385,224 2,799,077 1,255,381 1,255,381 598,162 673,458 657,219 Yearly Quarterly 2022 2023 2024 6M/2023 6M/2024 2Q|23 1Q|24 2Q|24 Proportion sale by country O 3,141,000 Target u t 55.7% 35.1% 5.4% 2.8% 0.9% 0.1% 1
Slide 20: Other Business
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
wey, POWER PLANT
Slide 22: Power plant sale volume
SELL TO GOVERNMENT >>> SELL TO HOUSEHOLD >>> SELL TO HOUSEHOLD >>> 230 MW. COMBINE CYCLE POWERPLANT 10 MW. DIESEL POWERPLANT ANNUALLY | SALE VOLUME (MW.) ANNUALLY | SALE VOLUME (MW.) -6.6% YoY YoY -10.8% +2.6% +4.1% +4.7% -16.9% -6.4% -7.7% 1,268,385 6,750 1,131,506 1,177,949 +27,634 MW. 5,610 -207
Slide 23: Liquid Tank Farm and Deep Sea Port
LIQUID TANK FARM AND DEEP SEA PORT
Slide 24: Tank farm, oil trading and overseas business
LIQUID TANK FARM & DEEP SEA PORT SERVICE OIL TRADING OVERSEA BUSINESS No. Total Number of Utilized ANNUALLY | SALE VOLUME (BARRELS) Capacity Liquid Tank As 31 MAR 2024 (Mil.Liter) +63.5% 1 15.27 4 YoY 1,969,494 (avg. 3.82/unit) 2 2 -10.0% +30.9% 2 27.05 4 -68.2% -27,053 Barrel 4 819,890 (avg. 6.76/u
Slide 25: Financial Results
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: 6M/2024 revenue portion
6M/2024 Thailand 27.7% (Thailand LPG, Logistic & Other) REVENUE PORTION by PRODUCT Oversea 72.3% (Offshore Trading & Retail Oversea Business) LPG Oversea, 71.1% LPG Domestic, 20.1% Offshore Thailand 39.7% 26.7% Other, Oversea 5.5% OIL, business 3.3% 32.6% Other 0.8% Logistic 0.2% 26
Slide 27: Consolidated revenue
6M/2024 Consolidated REVENUE of Bt.44,423 m shows a -2.1% yoy decline YEARLY HALF–YEAR QUARTERLY Unit : Million Baht YoY QoQ +1.8% -10.3% +29.8% +368 M.Baht -2,415 M.Baht 103,198 -11.7% 1,587 91,106 +11.3% +3.0% 48.8% -1.0% -10.3% 1,034 of -16.7% 22,973 23,419 22,737 Y2023 20,636 21,004 237 320 273
Slide 28: Consolidated EBITDA
EBITDA 6M/2024 Consolidated EBITDA of Bt.1,919 m shows a +4,115.5% yoy growth EBITDA MARGIN YEARLY HALF–YEAR QUARTERLY YoY QoQ EBITDA +173.3% -54.2% EBITDA MARGIN +8.3% 4,500 .0 0 -46.5% 7.0 0% +1,423 M.Baht -714 M.Baht 50.0% 4,00 0.00 3,841 of +167.5% 3,547 6.00% Y2023 3,50 0.0 0 2,500 .0 0 2,197 -
Slide 29: Consolidated net profit
6M/2023 Consolidated NET PROFIT of Bt.625 m shows a +164.4% yoy growth YEARLY HALF–YEAR QUARTERLY NET PROFIT YoY QoQ NET PROFIT MARGIN +99.2% -101.6% -71.9% -4.9% 1,20 0.00 4.00% +1,245 M.Baht -646 M.Baht 1,070 1,018 61.4% 3.50% 1,000 .0 0 of Y2023 +198.1% 625 3.00% 800.00 3.00% -38.4% -16.1% 800.00
Slide 30: Assets, liabilities and equity
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 52,844 -0.4% 52,652 5,378 3,978 -5.9% +12.6% 36,930 17,913 9,154 34,739 15,914 9,826 7,900 8,310 Mil
Slide 31: Business Outlook
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 forecast 2024
LPG Sales Volume (Tons) SALE VOLUME FORECAST 2024 Sales volume (TONs) 2022 2023 6M/2023 Outlook 2024 6M/2024 % Success % YoY SGP - Thailand SGP Offshore Trading SGP - Thailand 803,542.25 812,853.54 404,698.72 860,000 401,319.64 46.7% -0.8% China Vietnam Offshore Trading 1,416,854.16 1,323,806.29 689
Slide 33: Dividend Policy
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 2024 0.15 The Company has established the policy to Interim 2023 0.10 0.15 pay dividends to the shareholders at the rate Final 2022 0.20 0.20 of not less than 40% of the net profit after 2021 0.20 0.80 corporate income tax, accumulated loss 2020 0.10 0.40
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 Road, Makkasan, Ratchathewi, Bangkok 10400 Thailand.
Siamgas and Petrochemicals Public Company — Q2 2024 Earnings Presentation on 6ix