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Q3 2014 Analyst Meeting – PTT Public Company Limited

PTT Public Company Limited · Nov 18, 2014 · 53 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 2014 Analyst Meeting – PTT Public Company Limited – slide 1
    Analyst Meeting Q3/2014
  2. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 2
    Safety and Sustainability: PTT implements several safety programs that really improve the safety performance Aspiration = Zero Accident (Injuries/Million hrs) Injury Rate 4 3 2 1 0 2009 2010 2011 2012 2013 2014* 1/ 2/…
  3. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 3
    Safety and Sustainability: PTT consistently receives awards on Safety performance 16 PTTs Operations awarded the ZERO Accident Campaign 2014 from OSHTHAI Ministry of Labour and Social Welfare Bang Chak Petorleum Terminal…
  4. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 4
    Environment and Sustainability: PTT endorsed with CDP to fight climate change Quick fact about CDP (Carbon Disclosure Project) Worlds only global natural capital disclosure system for organizations to report, manage and share vital…
  5. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 5
    Environment and Sustainability: PTT Group is in DJSI members Thai Listed Company are DJSI Listed Company in Year 2014 Company Listed Company DJSI World DJSI Remark Quote Emerging Markets PTT PTT PUBLIC COMPANY LIMITED 3 consecutive…
  6. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 6
    Contents Highlights Performance Conclusion Highlights Performance Conclusion 5
  7. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 7
    Highlights : Q3/14 Better Hope from Energy Reform Highlights Performance Conclusion Benefit from NGV price lifting, waiting for TOP major T/A : TOP (30 Key Events LPG days) Update (Q3) Energy Price Policy target to adjust energy…
  8. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 8
    Highlights : 9M/14 Solid Performance from Fully Integrate Highlights Performance Conclusion Gas GSP margin increased from Lower PTTEPs performance mainly Operation (9M) better product prices from Montara despite higher average Better…
  9. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 9
    Key Business Drivers: Oil price sharply dropped from US supply Highlights Performance Conclusion Dubai vs FO (/BBL) LNG vs HH (/MMBTU) 120 Dubai FO 25 SPOT Dubai 20 LNG Avg. 17.5 Avg. 106.6 Avg. 16.8 Avg. 105.3 Avg. 16.5 Avg.…
  10. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 10
    9M/14 Performance: Strong PTT performance outweigh soften affiliates Highlights Performance Conclusion MMTHB 7,783 786 9,982 5% 13,707 FX gain 8,175 Avg. A/C GIM decreased 35% Other 82,444 OPEX* 32 78,293 Income 2,366 68%…
  11. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 11
    Contents Highlights Performance Conclusion Highlights Performance Conclusion 10
  12. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 12
    E&P Key Highlights in Q3/14 Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Exploration Kicked off Myanmar Exploration and appraisal drilling Signed PSC agreement for Myanmar MOGE-3 block Maple-East…
  13. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 13
    E&P Performance: Oil price slump pressured performance, but hedging gain alleviated some pain Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Product Prices Sales Volume 4% 2% KBOED 104.64 100.19…
  14. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 14
    PTT EBITDA Performance: Highlights Performance Conclusion ( Unit:MMTHB) Business Q2/14 Q3/14 QoQ 9M/13 9M/14 YoY Segment Gas-EBITDA 14,094 15,840 12% 32,574 44,422 36% S&M 5,317 7,092 33% 12,384 17,166 39% TM 6,630 6,681 1%…
  15. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 15
    Gas Performance: Maintained solid NG sale volume Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume* NG Customer Breakdown MMSCFD MMSCFD 1% QoQ 0.5% YoY AVG. 4,768 4,768 4,731 4,628…
  16. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 16
    Gas Performance : Strong GSP margin drove performance Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others GSP - Reference Product Prices GSP Sales Volume USD/Ton kTon 1% YoY 1,582 1,620 1,508 1,572 PP…
  17. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 17
    Gas: Energy reform in progress Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others LPG retail price hike 1 Oct14 increased by 0.62 THB/kg (transportation sector) 21 Oct 14 increased by 0.63 THB/kg…
  18. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 18
    Regulated Prices have distorted Thailands energy demand/supply Highlights Performance NGV- Price & Sales Volume LPG Industry Auto Household Import THB/Kg M.Ton THB/Kg M.Ton 40 6 Avg. Sales Vol. (LHS) Price (RHS) 406 Industry…
  19. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 19
    Oil Performance : Non-oil business continues to grow Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Contribution Margin 1/ Sales Volume 2/ THB/Liter MM Liter 3% YoY 4% QoQ 1% QoQ 1% YoY 17,940…
  20. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 20
    Oil : Going Forward Aspired to be Regional Top Brand Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others 19
  21. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 21
    Trading Performance : Drop in margins hurt performance Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Sales Volume THB/Liter MM Liter 2% YoY 59% QoQ 50% YoY 55,591 54,673 0.17…
  22. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 22
    Trading: Growth Drivers Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others 21
  23. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 23
    Refineries : Key Events Q32014 Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Dispute settlement between IRPC and Liaopairattana family (Sep 14) Fire Incident Update: VGOHT Unit: Reconstruction on…
  24. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 24
    Refining Business Performance: Though Aromatics rebounded, stock losses dented performance Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others GRM/GIM Aromatics USD/BBL 106.1 101.5 105.1 104.0 Aromatics…
  25. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 25
    Petrochemical : Key Events Q32014 Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others 28 Aug : Purchased 34% of the registered capital in Vencorex from Perstorp, making % holding in Vencorex changed…
  26. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 26
    Petrochemical Business Performance: Strong Olefins and recovered Aromatics helped offset stock loss impact Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Refineries Aromatics CDU 103% 102% 102% BTX…
  27. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 27
    Petrochemical : Project Updates Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Start Capturing Benefits in 2015 26
  28. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 28
    Other Businesses : Coal - SAR (94.58%) Cost reduction initiatives relieved effect from continuing coal price declined Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost…
  29. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 29
    SAR Project Update Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Q3/14 Operational Highlights: Concluded joint mining operation contract with neighboring mine to extract coal along concession…
  30. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 30
    Other Businesses : Power - GPSC (30.10%) Lower power seasonal selling price and lower steam sales pressured Q3 performance Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Sales Volume Net Income*…
  31. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 31
    Other Businesses : Power GPSC (30.10%) Project update Highlights Performance Conclusion E&P Gas Oil & Trading Refining PetChem Others Progress Update (Q3/14) Navanakorn (NNEG) Expected to COD - Q3/2016 Construction Progress as of Sep…
  32. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 32
    PTT Consolidated Performance: 9M/14 Highlights Performance Conclusion Dubai 106.1 101.5 105.1 104.0 9M/13 9M/14 (USD/BBL) 5% Others PTTEP 4% 2,092,487 2,190,881 4% 8% 7% Unit : MMTHB 6% Revenue 17% PTT - Gas 17% Revenue…
  33. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 33
    PTT Group Performance : 9M/14 (YoY) Highlights Performance Conclusion Performance 100% % share Equity Method % PTT Unit : MMTHB 9M/13 9M/14 YoY 9M/13 9M2014 YoY PTT Net operating Income 23,352 37,110 59% 23,352 37,110 59% E&P - PTTEP…
  34. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 34
    Statements of Consolidated Cash Flows Highlights Performance Conclusion 9M/2013 9M/2014 9M/2013 9M/2014 Operating 122,449 156,636 Investing -68,457 -81,693 Net Income 78,293 82,444 CAPEX(PP&E, Intangible asset) -87,880 -72,538…
  35. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 35
    Statement of Financial Position Highlights Performance Conclusion MMTHB Increased assets : 0.8% Goodwill and exploration and evaluation assets of PTTEP due to assets swap of Canada Oil Sands KKD project and the acquisition of…
  36. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 36
    Contents Highlights Performance Conclusion Highlights Performance Conclusion 35
  37. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 37
    9M/2014 Conclusion Highlights Performance Conclusion Solid PTTs performance especially from gas business Energy price structure reform NGV price reform kicked off Petrol price alleviated oil fund burden LPG increased oil fund…
  38. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 38
    2015 Industry Outlook Highlights Performance Conclusion Oil price expect to be lower than 2014 (Avg. Dubai 2015 range 90-95/BBL ) Low oil price would support economic growth Olefin margins to slightly soften Aromatic…
  39. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 39
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 327bn* (10bn) during 2014-2018 CAPEX Breakdown : 5 Years Unit: MMTHB By Business Unit Investment in Joint Venture and Its subsidiaries Head Office and Others…
  40. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 40
    Statements of Cash Flows (PTT Only) 9M/2013 9M/2014 9M/2013 9M/2014 Operating 18,986 45,768 Investing 21,706 13,420 Net Income 57,362 49,954 CAPEX (PP&E, Intangible asset) -15,079 -21,640 Changes in assets & liabilities -22,439…
  41. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 41
    PTT Group Performance : Q3/14 (QoQ) Performance 100% % share Equity Method % PTT Unit : MMTHB Q2/14 Q3/14 QoQ Q2/14 Q3/14 QoQ PTT Net operating Income 11,162 12,209 9% 11,162 12,209 9% E&P - PTTEP 18,186 15,284 -16% 65.29% 12,271 7,846…
  42. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 42
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 4.61 % : Cost of debts 4.42 % : % fixed-rate 81.14 % : % fixed-rate…
  43. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 43
    Data as of 30 September 2014 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production…
  44. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 44
    Oil Balance Thailand: Jan-Aug 2014 Adequate refining capacity maintains the stability of supply Supply Production Sales Import (79%) Domestic Imported Refined Petroleum Products 100 KBD 884KBD Crude/ Refined Condensate Total…
  45. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 45
    Natural Gas Balance: Jan Sep 2014 Main driver of the Thai economy Overview Performance Q2/2014 Outlook Supply Production Sales Ethane/ Gulf of Thailand (76%) Propane/ LPG/NGL Petrochemical Feedstock Chevron (14%) Others 30%…
  46. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 46
    PTT is Thailands Largest Energy Company PTT Public Limited Company (PTT) Robust revenue and Net Income growth since IPO (MMUSD) Largest company on Thai Stock exchange 94,756 Market cap US67bn1 or THB2.2 trillion1 3,155 Group…
  47. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 47
    PTTs Strategic Importance to Thailand Ministry of Finance holds majority stake in PTT PTT ratings at Thai sovereign level Public 34% Thai Ministry Foreign 17% of Finance 51% Kingdom of Thai 17% Thailand Baa1 BBB+ BBB+ A- FC…
  48. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 48
    Our Major Businesses & Activities Overview Performance 2H/2014 Outlook Business Areas Company PTTs holding (%) Activities Upstream E&P PTTEP 65.29% Exploration and Production PTT PLC Intermediate Gas Pipeline 100% Sole…
  49. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 49
    PTT Aspiration Strategic direction and target to achieve Big-Long-Strong aspiration Overview Performance 2H/2014 Outlook Thai Premier Multinational Energy Company Strong TOP Quartile ROIC Big Long Ranked Fortune 84th Listed…
  50. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 50
    Natural Gas Price Structure : Jan-Sep 2014 Gas prices are mostly agreed under long-term contracts and volatility pass-through to ensure stable returns. Sales Price Structure Customers1 Gas Pool Price + Supply Margins + Pipeline…
  51. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 51
    Natural Gas : Strong and Increasing Demand over Long Term Natural gas is a fuel of choice for power producers and transportation industry Gas demand forecast (CAGR during 2014-2030) : Total 1% : Power 2% : GSP -3% : Industry 2% :…
  52. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 52
    Thailands Projected Energy Demand Commercial Primary Energy Consumption KBD 4000 3,728 3,306 1% Nuclear 4% 3500 3% 13% 2,862 3000 13% 3% 2,321 Hydro/Import13% 19% 2500 17% 1,917 2% Renewable 12% 14% 2000 2%…
  53. Q3 2014 Analyst Meeting – PTT Public Company Limited – slide 53
    Gas Business Generates Stable Returns Highlights Gas transmission pipeline capacity Sole owner and operator of entire gas transmission pipelines in Thailand (3,678 km), a regulated business IRROE ranges between Phu Hom 12.5% -…

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