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Q3 2007 ANALYST MEETING – PTTEP

PTTEP · Nov 15, 2007 · 43 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. Q3 2007 ANALYST MEETING – PTTEP – slide 1
    Analyst Analyst Meeting Meeting 3Q/07 3Q/07 15 15November November2007 2007
  2. Q3 2007 ANALYST MEETING – PTTEP – slide 2
    Activities & Operational Results Growing the Future Conclusion 3
  3. Q3 2007 ANALYST MEETING – PTTEP – slide 3
    Strong revenues from volume and price increased Total Gas PTTEP Refining Petrochem Oil 3Q/07 +13% (after deducted Unit : Bt mm 395,701 royalties) +13% Revenues 395,701 Bt mm 349,801 319,782 281,895 Gas Group 16% PTTEP 5% 5%…
  4. Q3 2007 ANALYST MEETING – PTTEP – slide 4
    3Q/07 EBITDA increased yoy, from NG sales volume increased 9M/07 EBITDA slightly decreased from de-consolidation of RRC and PTTCHs plant shutdown 3Q/07 Total Gas PTTEP Refining Petrochem Oil EBITDA 42,296 Bt mn + 14% 42,296 Unit : Bt…
  5. Q3 2007 ANALYST MEETING – PTTEP – slide 5
    Net Income sustained if exclude extra gain Other 3Q/07 Total PTT PTTEP RRC PTTCH Affiliates Net Income 24,484 Bt mn + 1% Unit : Bt mm 24,484 If include MI 24,320 Gain on Disposal Aff. Aff.- Aff. Aff.-Ref 408 of Investments…
  6. Q3 2007 ANALYST MEETING – PTTEP – slide 6
    Pipeline Business :Waiting for additional gas supply 3Q/07 9M/07 Gas sales volumes (mmscfd) heat 1,000 Customer Profile %yoy %qoq % chg. Sales vol. +6% (0.03%) +6% EGAT IPP SPP GSP Industry 3,319 3,318 2007 2006 2005 3,138 3,268…
  7. Q3 2007 ANALYST MEETING – PTTEP – slide 7
    Gas Separation Plants : volume and price increased Product Prices (/ton) 1,316 1,347 1,304 1,383 HDPE 1,220 Sales volume in 3Q/07 increased 15%YoY due to 1,343 1,373 1,312 higher utilization rate and 1,300 PP 1,213 more gas supply…
  8. Q3 2007 ANALYST MEETING – PTTEP – slide 8
    PTTEP : Growth Engine & Cash Generator PTT holds 66. 46% in PTTEP (as of 30 September 2007). 3Q/07 9M/07 S1 highest daily crude production record in July07 %yoy %qoq % chg Unit : Bt mm Revenue + 1% + 4% (3%) with 24,096 BBL/D…
  9. Q3 2007 ANALYST MEETING – PTTEP – slide 9
    Oil Business : Strong Leadership Position with No.1 market share PTT is a market leader in oil retails at 35% market share with 1,222 gas stations nationwide. Oil Marketing : sales volume 238 kboe/d - 4% Unit : Baht/Litre…
  10. Q3 2007 ANALYST MEETING – PTTEP – slide 10
    Refining Associates : Solid performance driven by Strong GRM Consolidation policy is on the road to create more refining synergies synergies PTT Group represents 34% of total refining capacity by equity portion EBITDA NI %Utl Unit :…
  11. Q3 2007 ANALYST MEETING – PTTEP – slide 11
    PTTCH : Capacity expansion and diversified portfolio Lower cost per unit and more stable income stream PTTCH (PTT 54.82%) Unit : Bt mm Olefins production increased 15%YoY due mainly to the De-bottleneck 1 project commissioning since…
  12. Q3 2007 ANALYST MEETING – PTTEP – slide 12
    Petrochemical Associates : Aromatics Chain Plant expansion and products diversification Unit : Bt mm ATC (PTT 48.86%) : R evenues : EB IT D A 3Q/07 9M/07 : NI : %U t ilizat io n %yoy %qoq % chg. 99% Revenue (1%) + 7% + 10% 98%…
  13. Q3 2007 ANALYST MEETING – PTTEP – slide 13
    Consolidated Income Statements With strong commitment to dividend payment Unit : Bt mm 3Q/06 2Q/07 3Q/07 %YoY %QoQ 9M/06 9M/07 %YOY Sales 349,801 368,038 395,701 13.1 7.5 933,423 1,062,018 13.8 Cost of sales (excl. DD&A) 307,447 326,264…
  14. Q3 2007 ANALYST MEETING – PTTEP – slide 14
    Balance Sheets : Committed to maintain solid & secure financial position Balance Sheets 3rd pipeline started Unit : Bt mm De-conso RRC commissioning Strong Financial Position Recognized BCP, Acquired JET/Jiffy 14.3 ICR IRPC under…
  15. Q3 2007 ANALYST MEETING – PTTEP – slide 15
    Debt Profile : Control Cost & Manage Risk Debt portfolio is structured to minimize financial risks. Debt Portfolio Consolidated debt Bt236bn (6.9bn) PTT Only Consolidated : Cost of debts 5.84% : Cost of debts 5.71% : % fixed-rate…
  16. Q3 2007 ANALYST MEETING – PTTEP – slide 16
    Activities & Operational Results Growing the Future Conclusion 17
  17. Q3 2007 ANALYST MEETING – PTTEP – slide 17
    CAPEX & Investments : Growing the Future PTT plans to invest Bt210bn (5.5bn) during 2007- 2007-2011, mostly into expanding gas business. Gas Oil JV Others PTT PTTs CAPEX Bt209,151m (5.5bn) Unit : Bt mm during 2007- 2007-2011…
  18. Q3 2007 ANALYST MEETING – PTTEP – slide 18
    Strategic Roadmap : Core Value Creators Infrastructure is under expansion to enhance capability to meet rising gas demand. Gas Demand Outlook Unit : mmscfd 6,000.00 0 1 1 ) 11% A G R (2007-2 5,000.00 C Industry 18% 4,000.00 GSP…
  19. Q3 2007 ANALYST MEETING – PTTEP – slide 19
    PTTEPs CAPEX and Sales Volume Profile PTTEP PTTEPs sales volume increases due to new projects coming on- on-steam; with continuous investment for the future 000 BOED CAGR 9.4% 300 MTJDA 269 269 Vietnam 9-2 255 241 Arthit Others…
  20. Q3 2007 ANALYST MEETING – PTTEP – slide 20
    Strategic Roadmap : Integrated Value Enhancers - Refinery New businesses are under development to utilize assets, enhance competitiveness, and diversify risks. 2006 2008 2009 2010 2011 Total 2007 (MM) CDU-3 Debot + 50,000 bpd…
  21. Q3 2007 ANALYST MEETING – PTTEP – slide 21
    Strategic Roadmap : Integrated Value Enhancers - Petrochemical New businesses are under development to utilize assets, enhance competitiveness, and diversify risks. 2007 2008 2009 2010 Total (MM) Debot I 140MM Debot II 75MM Ethylene…
  22. Q3 2007 ANALYST MEETING – PTTEP – slide 22
    Activities & Operational Results Growing the Future Conclusion 23
  23. Q3 2007 ANALYST MEETING – PTTEP – slide 23
    Outlook 4Q/2007 World oil market is sustained at a high level due to the unsolved geopolitical tension. The threat of supply disruption has brought the world oil price to raise to a new high of Dubai 90/bbl. Natural gas sales volume…
  24. Q3 2007 ANALYST MEETING – PTTEP – slide 24
    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/
  25. Q3 2007 ANALYST MEETING – PTTEP – slide 25
    PTT : The Largest Public Company in Thailand Ownership : Ministry of Finance Direct and Indirect Indirect 68%, Public 32% Total Market Cap. Bt6.74tr (198bn) IRPC 7.2 % PTTCH 8.5% TOP 8.7% PTT PTTEP 21.4% RRC 3.7% 16% PTT…
  26. Q3 2007 ANALYST MEETING – PTTEP – slide 26
    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…
  27. Q3 2007 ANALYST MEETING – PTTEP – slide 27
    Strategic Intents Drive Specific Sector Actions Business Areas Major Operator (%) Activities Strategic Intents Core value creators PTTEP 66.65% Exploration and Production Grow aggressively E&P in Thailand Plus and beyond Gas…
  28. Q3 2007 ANALYST MEETING – PTTEP – slide 28
    Hydrocarbon Value Chain PTT Group has strong presence in various sectors throughout the hydrocarbon value chain. Upstream Intermediate Downstream End Customers Natural Gas Mix Electricity Power Plants Industry Gas…
  29. Q3 2007 ANALYST MEETING – PTTEP – slide 29
    Group E&P and Gas Business Group Oil Business Group Petrochemical & Refining Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical PTT Exploration & Production Plc. PTTEP 66.46% PTT International Trading Pte. PTTT 100.00%…
  30. Q3 2007 ANALYST MEETING – PTTEP – slide 30
    Refining Associates : Moving to resilient integrated refining and petrochemical plant Refining Refining Capacity Capacity Olefins Olefins Aromatics Aromatics Power Power Others Others Complex IPT 700 MW TLB : 270 KTA FCCU1,…
  31. Q3 2007 ANALYST MEETING – PTTEP – slide 31
    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 2007-2015) kboed : Total 5% 3,000 : Gas 6% : Oil…
  32. Q3 2007 ANALYST MEETING – PTTEP – slide 32
    Natural Gas : Strong and Increasing Demand over Long Term Natural gas is a fuel of choice for power producers and increasingly increasingly transportation industry. Gas demand forecast (CAGR during 2007-2015) mmscfd : Total 8% :…
  33. Q3 2007 ANALYST MEETING – PTTEP – slide 33
    Natural Gas Price Structure Gas prices are mostly agreed under long- long-term contracts and volatility pass- pass-through to ensure stable returns. Sales Price Structure Customers Gas Pool Price + Supply Margins + Pipeline…
  34. Q3 2007 ANALYST MEETING – PTTEP – slide 34
    Schedule : Major Projects Key projects are strategically linked and timely corresponding to to meet demand. PTTs Natural Gas Pipeline Network 3rd Pipeline (Onshore & Offshore) Onshore: completed in March 2006 Offshore: COD 27 March…
  35. Q3 2007 ANALYST MEETING – PTTEP – slide 35
    Refining Industry Strong leadership position ensures stable supply to downstream and and related businesses. PTT Group represents 34% of total refining capacity by equity portion Total refining capacity 1,012 kbpd RPC 2% ESSO…
  36. Q3 2007 ANALYST MEETING – PTTEP – slide 36
    Cash Flow (Company Only) : Jan Sept 2007 Unit : Baht mm Operating 43,066 CAPEX & INVESTMENT (16,047) Net Income & non- non-cash 31,829* CAPEX (PP&E) (19,338) Adjustment Investment in Affiliates. (2,314) Changes in assets 11,236…
  37. Q3 2007 ANALYST MEETING – PTTEP – slide 37
    Performance Highlights : Record 2006 results 2006 Total Gas PTTEP Refining Petrochem Oil Revenues 1,213,985 Bt mm +31% 1,213,985 5 mth. +24% Conso. Gas Group 926,269 RRC 995,443 22% Conso. 805,263 PTTCH Petchem +17% - 46% 10%…
  38. Q3 2007 ANALYST MEETING – PTTEP – slide 38
    PTTEP : Growth Engine & Cash Generator PTT holds 66. 13% in PTTEP (as of 31 December 2006). In 2006, Avg. sales price has risen more than 20% Liquid with sales volume growth 10% 17% Oversea 29% Unit : Bt mm Maintain solid…
  39. Q3 2007 ANALYST MEETING – PTTEP – slide 39
    Refining Subsidiaries : 2006 Lower Results from lower GRM and stock loss Cooperation among refineries improves security of supply and helps helps manage supply chain efficiently. PTT Group represents 34% of total refining capacity by…
  40. Q3 2007 ANALYST MEETING – PTTEP – slide 40
    Petrochemical Affiliates : Better performance from volume & price PTT focuses on gas- gas-based petrochemical business to create more values from natural gas assets Capacity expansion and diversified portfolio Ethane, Propane, PTT…
  41. Q3 2007 ANALYST MEETING – PTTEP – slide 41
    Consolidated Income Statements : Year ended 2006 Unit : Bt mm 2005 2006 Change %Change Sales 926,269 1,213,985 287,716 31 S&A expenses 21,344 28,668 7,324 34 EBITDA 114,045 142,675 28,630 25 DD&A 17,479 26,755 9,276 53 EBIT 96,566…
  42. Q3 2007 ANALYST MEETING – PTTEP – slide 42
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net net income. EPS DPS % Dividend Payout 32.4% 32.6% 30.1% 30.3% 30.9% 29.8% 28.7% PTTs minimum payout ratio 25% 34.02…
  43. Q3 2007 ANALYST MEETING – PTTEP – slide 43
    Reference : Product Prices 2006 2007 2005 2006 %Chg. 1Q 2Q 3Q 4Q 1Q 2Q 3Q FX THB/USD (end period) 38.9417 38.3295 37.6373 36.2308 35.1354 34.6679 34.3851 41.1746 36.2308 (12%) Crude (/bbl) : WTI 63.32 70.30 70.60 59.99 57.99 64.89…

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