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MARCH 2005 ANALYST MEETING – PTTEP

PTTEP · Mar 2, 2006 · 35 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. MARCH 2005 ANALYST MEETING – PTTEP – slide 1
    2005 Analyst Meeting 2 March 2006 1
  2. MARCH 2005 ANALYST MEETING – PTTEP – slide 2
    Activities & Operational Results Financial Highlights Growing the Future 3
  3. MARCH 2005 ANALYST MEETING – PTTEP – slide 3
    PTT : The Largest Public Company in Thailand Ownership : Ministry of Finance 52%, Public 48% PTT Group represents a significant portion of Thai economy Total Market Cap. Bt5.4tr (136bn) TPI 9.8% TOP 8.5% PTT PTTEP 23.6% PTTCH…
  4. MARCH 2005 ANALYST MEETING – PTTEP – slide 4
    Recognition : Confidence & Credibility PTT is widely recognized among business community both local and international. PTT ratings are comparable to sovereign ratings Foreign : Moodys (A2) / S&P (BBB+) Local : Moodys (A2) / S&P (A-)…
  5. MARCH 2005 ANALYST MEETING – PTTEP – slide 5
    Major Developments in 2005 PTT Acquired 31.5% stake in TPI for Bt20.3bn. Total bond issuance of Bt38bn in both domestic and international markets. Gas Business PTTEP jointly acquired assets (Blocks B8/32 and 9A) from Pogo for…
  6. MARCH 2005 ANALYST MEETING – PTTEP – slide 6
    Performance Highlights : Larger, Stronger, and Better PTT 2005 performance (Baht per share) : Revenues 332.4, EBITDA 40.8, Net Income 30.6 Revenues 2004 2005 Unit : Bt mn 929,716 Revenues Gas Group Gas Group 22% 30% + 44% Oil…
  7. MARCH 2005 ANALYST MEETING – PTTEP – slide 7
    Pipeline Business : Stable Incomes & Solid Growth Pipeline network is under expansion to enlarge customer base and secure leadership position. Gas sales volume + 8%, Gas demand remains strong and growing Gas sales volumes (mmscfd)…
  8. MARCH 2005 ANALYST MEETING – PTTEP – slide 8
    Gas Separation Plants : Strategic Value Creators Natural gas is utilized to the fullest potential through gas separation plants. Sales volume + 26% driven by GSP5 Product Prices in 2005 (/ton) Sales Volume (x 1,000 tons) 1,081…
  9. MARCH 2005 ANALYST MEETING – PTTEP – slide 9
    PTTEP : Growth Engine & Cash Generator PTT hold 66.32% in PTTEP (as of 31 Dec 2005). Unit : Bt mn Revenues Operations Sales Vol. (boepd) Avg. Sales Prices (/boe) 68,355 31.47 31.59 29.37 28.14 25.42 23.38 % 43 + 142,685…
  10. MARCH 2005 ANALYST MEETING – PTTEP – slide 10
    Oil Business : Strong Leadership Position PTT is a market leader in oil retails at 35% market share with 1,277 gas stations nationwide. Oil Marketing : sales volume 255 kboe/d Thailands total gas stations 18,407 + 6% (as of…
  11. MARCH 2005 ANALYST MEETING – PTTEP – slide 11
    Refining Affiliates Cooperation among refineries improves security of supply and helps manage supply chain more efficiently. PTT Group represents 84% of total refining capacity TOP* 2004 2005 %Chg. RRC* 2004 2005 %Chg. : Revenues…
  12. MARCH 2005 ANALYST MEETING – PTTEP – slide 12
    Petrochemical Affiliates PTT focuses on gas-based petrochemical business to create more values from natural gas assets. PTT has become a regional player in petrochemical industry Ethane, Propane, Ethylene HDPE PTT GSPs LPG, NGL…
  13. MARCH 2005 ANALYST MEETING – PTTEP – slide 13
    Activities & Operational Results Financial Highlights Growing the Future 14
  14. MARCH 2005 ANALYST MEETING – PTTEP – slide 14
    Consolidated Income Statements THB (Bt mn) USD Equivalent ( mn) 2004 2005 Chg. %Chg. 2004 2005 Chg. %Chg. Sales 644,694 929,716 285,022 44% 15,658 22,580 6,922 44% - S&A expenses 18,618 22,586 3,968 21% 452 549 97 21% EBITDA…
  15. MARCH 2005 ANALYST MEETING – PTTEP – slide 15
    Balance Sheets : Financial Philosophy Solid & Secure PTT is fully committed to maintain strong financial position. Balance Sheets GSP5 startup Financial Ratios ICR 12.9 Unit : Bt mn Consol. PTTCH Acquired RRC 9.4 Net…
  16. MARCH 2005 ANALYST MEETING – PTTEP – slide 16
    Debt Profile : Control Cost & Manage Risk Debt portfolio is structured to minimize financial risks. Debt Portfolio Consolidated debt Bt222bn (5.4bn) Unit : Bt mn USD 221,810 PTTEP THB 8% PTTCH 201,593 10% 84,285 PTT RRC (38%)…
  17. MARCH 2005 ANALYST MEETING – PTTEP – slide 17
    Activities & Operational Results Financial Highlights Growing the Future 18
  18. MARCH 2005 ANALYST MEETING – PTTEP – slide 18
    CAPEX & Investments : Growing the Future PTT plans to invest Bt239bn (6bn) during 2006-2010, mostly into expanding gas business. Gas Oil JV Others PTTEP PTTs CAPEX Bt238,794m (6.0bn) Unit : Bt mn 79,620 during 2006-2010 Others…
  19. MARCH 2005 ANALYST MEETING – PTTEP – slide 19
    Strategic Roadmap : Core Value Creators Infrastructure is under expansion to enhance capability to meet rising gas demand. Gas Demand Outlook Unit : mmscfd 5,000 00 9) 12% G R ( 2 005-2 4,000 CA Industry 17% GSP 18% 3,000…
  20. MARCH 2005 ANALYST MEETING – PTTEP – slide 20
    Strategic Roadmap : Integrated Value Enhancers New businesses are under development to utilize assets, enhance competitiveness, and diversify risks. 2005 2006 2007 2008 2009 Olefins & Plastics Debot I4/1 Debot I4/2 : Ethylene 1,146…
  21. MARCH 2005 ANALYST MEETING – PTTEP – slide 21
    2006 Outlook : Look Forward to Another Solid Year Favorable Environment Key Drivers Strong and Rising Demand Continuing economic expansion Higher demand for petroleum products Enhanced Operation Additional pipeline capacity : 3rd…
  22. MARCH 2005 ANALYST MEETING – PTTEP – slide 22
    Thank you PTT Public Company Limited Capital Market & Investor Relations Department Tel. +66 2 537-2792, Fax. +66 2 537-2791, Email: irpttplc.com, http://www.pttplc.com/ 23
  23. MARCH 2005 ANALYST MEETING – PTTEP – slide 23
    Supplement 24
  24. MARCH 2005 ANALYST MEETING – PTTEP – slide 24
    Hydrocarbon Value Chain PTT Group has strong presence in various sectors throughout the hydrocarbon value chain. Fully Integrated Portfolio & Strong Leadership Position Upstream Intermediate Downstream End Customers Natural Gas…
  25. MARCH 2005 ANALYST MEETING – PTTEP – slide 25
    Energy Consumption : Growing along with Economic Expansion Oil and gas are major sources of energy and likely to remain so for many years. Energy consumption forecast (CAGR during 2006-2015) kboed : Total 5% 3,500 : Gas 8% : Oil…
  26. MARCH 2005 ANALYST MEETING – PTTEP – slide 26
    Natural Gas : Strong and Increasing Demand over Long Term Natural gas is a fuel of choice for power producers and increasingly transportation industry. Gas demand forecast (CAGR during 2006-2015) mmscfd : Total 8% 8,000 : Power 6%…
  27. MARCH 2005 ANALYST MEETING – PTTEP – slide 27
    Petroleum Demand/Procurement : 2005 Demand 1,157,000 boepd (+ 3.2%) 2005 boepd %Chg. Total 1,157,000 + 5.1% - Gas 437,900 + 5.1% : EGAT 180,900 + 1.9% Diesel 29.3% : IPP/SPP 212,800 + 8.0% EGAT 15.6% Gas Oil : Industry 43,200 +…
  28. MARCH 2005 ANALYST MEETING – PTTEP – slide 28
    Corporate Structure PTT Petrochemical & Gas Business Group Oil Business Group Refining Exploration and production Marketing Trading Gas-based petrochemicals Transmission and distribution Integrated and complex refineries…
  29. MARCH 2005 ANALYST MEETING – PTTEP – slide 29
    PTT Group Strategy Roles in Portfolio Business Areas Business Missions Strategic Intents Maximize domestic resource utilization Protect, defend and grow E&P Secure reserves beyond Thailand aggressively in Thailand and beyond Core…
  30. MARCH 2005 ANALYST MEETING – PTTEP – slide 30
    Schedule : Major Projects Key projects are strategically linked and timely corresponding to meet demand. PTTs Natural Gas Pipeline Network 3rd Pipeline (Onshore & Offshore) COD 1H/2006 Pipeline : Sainoi S. Bangkok COD 2H/2006…
  31. MARCH 2005 ANALYST MEETING – PTTEP – slide 31
    Natural Gas Price Structure Gas prices are mostly agreed under long-term contracts and volatility pass-through to ensure stable returns. Sales Price Structure Customers Gas Pool Price + Supply Margins + Pipeline Tariffs Power…
  32. MARCH 2005 ANALYST MEETING – PTTEP – slide 32
    Refining Industry Strong leadership position ensures stable supply to downstream and related businesses. PTT Group represents 84% of total refining capacity Total refining capacity 1,012 kbpd RPC 2% ESSO 14% ESSO (145 kbpd)…
  33. MARCH 2005 ANALYST MEETING – PTTEP – slide 33
    Gross Refining Margins High oil prices create favorable environment for refining industry. High Refining Margins for Complex Refineries Strong Demand Supply Constraints Lower Crude Quality Economic growth in USA and No major…
  34. MARCH 2005 ANALYST MEETING – PTTEP – slide 34
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income. EPS DPS % Dividend Payout 32.4% 32.6% 29.8% 30.1% 30.3% PTTs minimum payout ratio 25% 30.57 22.40…
  35. MARCH 2005 ANALYST MEETING – PTTEP – slide 35
    Reference : Product Prices 2004 2005 2004 2005 %Chg. 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q FX THB/USD (end period) 39.5485 41.0305 41.5942 39.2025 39.2543 41.4091 41.1075 41.1746 39.2025 41.1746 Crude (/bbl) : WTI 35.24 38.31 43.86 48.26 49.63…

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