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2013 Earnings Call – PTT Public Company Limited

PTT Public Company Limited · Mar 6, 2014 · 46 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. 2013 Earnings Call – PTT Public Company Limited – slide 1
    Analyst Meeting FY 2013 Millennium Hilton Hotel 6 March 2014
  2. 2013 Earnings Call – PTT Public Company Limited – slide 2
    Contents Highlights Performance 2014 Outlook Highlights Performance 2014 Outlook 1
  3. 2013 Earnings Call – PTT Public Company Limited – slide 3
    Highlights 2013 Highlights Performance 2014 Outlook Gas sales volume increased 1% despite Oil business margin squeezed Operation GSP5 incident due to average cost increased Trading margin better from lower Coal average selling price…
  4. 2013 Earnings Call – PTT Public Company Limited – slide 4
    Highlights 2013 (Cont.) Highlights Performance 2014 Outlook Sustainability PTT remain a member of DJSI World Index 2013-2014 as well as PTTGCs first time listed despite many incidents occurred TOP listed as a member in DJSI Emerging…
  5. 2013 Earnings Call – PTT Public Company Limited – slide 5
    Price Movement Highlights Performance 2014 Outlook Dubai vs FO (/BBL) LNG:JLC* (/MMBTU) 140 20 Dubai FO Dubai Avg. 109.08 120 Avg. 105.52 Avg. 16.65 100 15 Avg. 16.16 FO Avg. 105.23 80 Avg. 97.52 * JLC = Japan LNG Cocktail…
  6. 2013 Earnings Call – PTT Public Company Limited – slide 6
    Net Income Performance: 2012 vs 2013 Highlights Performance 2014 Outlook Unit : MMTHB 104,608 10% 8,788 94,652 Total intake increased 5% Refinery Avg. ACC GRM increased 9% 18,578 8,649 THB depreciated 7% Petrochem Better spread…
  7. 2013 Earnings Call – PTT Public Company Limited – slide 7
    Contents Highlights Performance 2014 Outlook Highlights Performance 2014 Outlook 6
  8. 2013 Earnings Call – PTT Public Company Limited – slide 8
    Exploration & Production Performance : PTTEP (65.29%) Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Product Prices Net Income (100%) 1% 3% 103.27 Unit: MMUSD 100.33 101.53 100.15 Liquid…
  9. 2013 Earnings Call – PTT Public Company Limited – slide 9
    Exploration & Production Roadmap : PTTEP Growth Strategy to 600 KBOED in 2020 Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others PTTEPs CAPEX Planned 2014 2018 Other South East Asia 22%…
  10. 2013 Earnings Call – PTT Public Company Limited – slide 10
    Gas Business Performance : Natural Gas Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume GSP - Reference Product Prices Unit: MMSCFD Unit : USD/Ton AVG. 1,537 1,516 4,695 1,516 1,445…
  11. 2013 Earnings Call – PTT Public Company Limited – slide 11
    Gas Business Performance Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Gas Business EBITDA NGV Sales Volume Unit: MMTHB Unit : Approx. KTon/Day 14% 52,266 1% 8.66 10% 45,098 16% Others 8.57…
  12. 2013 Earnings Call – PTT Public Company Limited – slide 12
    Gas Business Roadmap Overview Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Unit : MMSCFD 6,000 6% 9% NGV 7% 15% Industry 4,000 13% 18% GSP 20% Power 2,000 58% - EGAT 60% - IPP - SPP 0 2013 2014…
  13. 2013 Earnings Call – PTT Public Company Limited – slide 13
    Oil Business Performance : PTT Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin 1/ Oil BU - EBITDA Unit : THB/Liter Unit : MMTHB 16% 15,929 13,361 11% 8% 0.86 0.77 0.72…
  14. 2013 Earnings Call – PTT Public Company Limited – slide 14
    International Trading Business Performance : PTT Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Trading BU - EBITDA* Unit :THB/Liter Unit : MMTHB 27% 33% 5,426 50% 4,280…
  15. 2013 Earnings Call – PTT Public Company Limited – slide 15
    Refining Business Performance Highlights Performance Q1/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others GRM/GIM Net Income (100%) Unit : USD/BBL Unit : MMTHB 109.1 106.3 106.8 105.5 2% Dubai 20,313 A/C GIM 22% 19,850…
  16. 2013 Earnings Call – PTT Public Company Limited – slide 16
    Refinery Project Update Highlights Performance Q1/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Refinery upgrading (TOP): HCU Revamp COD: Q1/2014 Emission Improvement Project (EIP): COD: Q1/2014 CDU-3 Crude Preheat…
  17. 2013 Earnings Call – PTT Public Company Limited – slide 17
    Petrochemical Business Performance Highlights Performance Q1/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Spread Margins Net Income (100%) Unit : USD/Ton Unit : MMTHB 11% 584 PP- Naphtha 37,478 592 585 33,290 565…
  18. 2013 Earnings Call – PTT Public Company Limited – slide 18
    Petrochemical Project Update Highlights Performance Q1/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Synergy: Pure H2 via New PSA : COD Q2/2014 Off gas upgrading at olefins : COD Q4/2014 Debottlenecking & Expansion:…
  19. 2013 Earnings Call – PTT Public Company Limited – slide 19
    Other Businesses : Coal - SAR (94.58%) Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost Net Income (100%) Unit : USD/Ton Unit : MMUSD 108.5 88 17% 0.1% Selling…
  20. 2013 Earnings Call – PTT Public Company Limited – slide 20
    SAR Project Update Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others 2014 Operation Plan Highlights: Continue cost reduction initiative program under downturn market Mine plan optimization for…
  21. 2013 Earnings Call – PTT Public Company Limited – slide 21
    Other Businesses : Power - GPSC (30.10%) Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Moving Forward (Capacity) Net Income (100%) Unit : MW Unit : MMBaht 52% 1,145 2,356 267 1,553 Renewable…
  22. 2013 Earnings Call – PTT Public Company Limited – slide 22
    GPSC Project Update Highlights Performance 2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Update Progress (Q4-2013) Purchase 51% share in IRPC clean power (IRPCCP) from IRPC Complete transfer share of 4 power assets…
  23. 2013 Earnings Call – PTT Public Company Limited – slide 23
    PTT Consolidated Performance: 2013 Highlights Performance 2014 Outlook Dubai (USD/BBL) 106.8 109.1 105.5 2013 106.3 Others PTTEP 4% Unit : MMTHB 7% 2% PTT - Gas 17% 2,842,688 Revenue 2,793,833 4% 72% Revenue 749,995…
  24. 2013 Earnings Call – PTT Public Company Limited – slide 24
    Statement of Financial Position : Solid and Secured Highlights Performance 2014 Outlook Unit: MMTHB Increased assets : PTTEPs Assets 4th Onshore pipeline Strong Financial Position Nakonsawan pipeline 11% 12.3 12.5 ICR*…
  25. 2013 Earnings Call – PTT Public Company Limited – slide 25
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income Highlights Performance 2014 Outlook 43.6% 40.4% 32.4%32.6% 29.8% 30.1% 30.3% 30.8% 34.7% 34.9% 35.5% 39.3%Dividend…
  26. 2013 Earnings Call – PTT Public Company Limited – slide 26
    PTT Group Performance : 2013 Highlights Performance 2014 Outlook Performance 100% % share Equity Method % PTT Unit : MMTHB Y2012 Y2013 YoY Y2012 Y2013 YoY PTT Net operating Income 45,229 29,166 -36% 45,229 29,166 -36% E&P - PTTEP…
  27. 2013 Earnings Call – PTT Public Company Limited – slide 27
    Contents Highlights Performance 2014 Outlook Highlights Performance 2014 Outlook 26
  28. 2013 Earnings Call – PTT Public Company Limited – slide 28
    Economic 2014 Outlook : Challenges ahead 2014 Highlights Performance 2014 Outlook US Market : will see the better growth in 2014 : - US Economics Recovery : - Effect from QE Tapering EU market: pass the worst, recovery is still…
  29. 2013 Earnings Call – PTT Public Company Limited – slide 29
    Market 2014 Outlook : Crude Oil Highlights Performance 2014 Outlook Monthly Avg. Crude Oil 122.5 WTI Brent Dubai Dubai Forecast (PTT Group PRISM) 117.3 116.2 Forecast 104.88 106.3 107.6 106.6 107.9 104.5 104.00 104.75 111.2…
  30. 2013 Earnings Call – PTT Public Company Limited – slide 30
    Market 2014 Outlook : Henry Hub Natural Gas Price Overview Performance 2014 Outlook EIAs projected HH Price in 2014 is 4.17 USD/MMBTU ( 0.44 USD/MMBTU) Impact of US Freezing Temperature US aim to be 3rd largest LNG export…
  31. 2013 Earnings Call – PTT Public Company Limited – slide 31
    Market 2014 Outlook:Asia LNG Spot Price (JKM : Japan Korea Marker) Overview Performance 2014 Outlook /MMBTU Winter Season Winter Season Winter Season 20.0 18.0 16.0 14.0 Last Nuclear Power Plant in Japan was shutdown 12.0…
  32. 2013 Earnings Call – PTT Public Company Limited – slide 32
    Market 2014 Outlook : GRM Highlights Performance 2014 Outlook Forecast 25.00 20.00 GO 15.00 10.00 Mogas 5.00 0.00 FO -5.00 -10.00 -15.00 Singapore GRM in 2014 is estimated to be around 5-6 USD/BBL Strong Winter…
  33. 2013 Earnings Call – PTT Public Company Limited – slide 33
    Market 2014 Outlook : Petrochemical Highlights Performance 2014 Outlook Unit :USD/ton Olefins Aromatics Y 2014 Y2014 2,000 2,000 1,800 1,800 PP 1,600 1,600 PX 1,400 HDPE 1,400 1,200 1,200 BZ 1,000 1,000 800 Naphtha 800…
  34. 2013 Earnings Call – PTT Public Company Limited – slide 34
    Key Takeaways Highlights Performance 2014 Outlook 2013 Despite many incidents, overall sales volume increased Better spread margin on Petrochemical products LPG cooking retail price lifting since September 2013 Financial…
  35. 2013 Earnings Call – PTT Public Company Limited – slide 35
    PTT Consolidated Performance: Q4/2013 106.8 Q4/2013 106.3 Dubai (USD/BBL) Others PTTEP 4% Unit : MMTHB 7% 4% PTT - Gas 16% Revenue 749,995 723,152 73% Revenue PTT - Oil & Trading Others Q3/2013 Q4/2013 PTT - Oil &…
  36. 2013 Earnings Call – PTT Public Company Limited – slide 36
    PTT Group Performance : Q4/2013 Performance 100% % share Equity Method % PTT Unit : MMTHB Q3/13 Q4/13 QoQ Q3/13 Q4/13 QoQ PTT Net operating Income 7,320 5,600 -23% 7,320 5,600 -23% E&P - PTTEP 17,805 7,428 -58% 65.29% 11,853 5,089…
  37. 2013 Earnings Call – PTT Public Company Limited – slide 37
    Statements of Consolidated Cash Flows for 2013 & 2012 2012 2013 2012 2013 Operating 175,004 165,327 Investing -178,083 -95,364 Net Income 104,608 94,652 CAPEX(PP&E, Intangible asset) -116,623 -114,457 Changes in assets & liabilities…
  38. 2013 Earnings Call – PTT Public Company Limited – slide 38
    Statements of Cash Flows for Year 2013 & 2012 (PTT Only) 2012 2013 2012 2013 Operating 59,898 42,592 Investing -65,729 16,981 Net Income 74,697 63,988 CAPEX (PP&E, Intangible asset) -20,433 -22,912 Changes in assets & liabilities…
  39. 2013 Earnings Call – PTT Public Company Limited – slide 39
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 4.57 % : Cost of debts 4.38 % : % fixed-rate 81.69 % : % fixed-rate…
  40. 2013 Earnings Call – PTT Public Company Limited – slide 40
    Data as of 31 Dec 2013 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production Plc.…
  41. 2013 Earnings Call – PTT Public Company Limited – slide 41
    Oil Balance Thailand: Jan Dec 2013 Adequate refining capacity maintains the stability of supply Supply Production Sales Import (80%) Domestic Imported Refined Petroleum Products 77 KBD 945KBD Crude/ Refined Condensate Total…
  42. 2013 Earnings Call – PTT Public Company Limited – slide 42
    Natural Gas Balance: Jan Dec 2013 Main driver of the Thai economy Supply Production Sales Ethane/ Gulf of Thailand (75%) Propane/ LPG/NGL Petrochemical Feedstock Chevron (15%) Others 32% 3,468 41 MMSCFD 930 MMSCFD (21%)…
  43. 2013 Earnings Call – PTT Public Company Limited – slide 43
    Natural Gas Price Structure : 2013 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 Tariffs…
  44. 2013 Earnings Call – PTT Public Company Limited – slide 44
    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 2013-2030) : Total 2% : Power 3% : GSP -1% : Industry 2% :…
  45. 2013 Earnings Call – PTT Public Company Limited – slide 45
    Thailands Projected Energy Demand Commercial Primary Energy Consumption KBD 4000 3,602 3,184 Nuclear 1% 3500 4% 2,758 3% 3000 13% 13% 2,280 2% 17% 2500 13% 16% 1,863 2% Hydro/Import 12% Renewable 15% 2000 2% 13%…
  46. 2013 Earnings Call – PTT Public Company Limited – slide 46
    Gas Business Generates Stable Returns Highlights Gas transmission pipeline capacity Sole owner and operator of entire gas transmission pipelines in Thailand (3,752 km), a regulated business IRROE ranges between Phu Hom 12.5% -…

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