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MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited

PTT Public Company Limited · Mar 12, 2012 · 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. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 1
    Investor Update March 2012
  2. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 2
    Contents Overview Performance & Roadmap Investment 2012 Outlook Overview Performance & Roadmap Investment 2012 Outlook 1
  3. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 3
    Oil Balance Thailand: Jan - Dec 2011 Adequate refining capacity maintains the stability of supply Overview Performance & Roadmap Investment 2012 Outlook Supply Production Sales Import (80%) Domestic Imported Refined Petroleum…
  4. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 4
    Natural Gas Balance: Jan Dec 2011 Main driver of the Thai economy Overview Performance & Roadmap Investment 2012 Outlook Supply Production Sales Ethane/ Total 4,167 MMSCFD Indigenous (78%) Propane/ 3,253 MMSCFD LPG/NGL…
  5. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 5
    Our Major Businesses & Activities Overview Performance & Roadmap Investment 2012 Outlook Business Areas Company PTTs holding (%) Activities Upstream E&P PTTEP 65.29% Exploration and Production PTT PLC Intermediate Gas…
  6. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 6
    PTT Aspiration Strategic direction and target to achieve Big-Long-Strong aspiration Overview Performance & Roadmap Investment 2012 Outlook Thai Premier Multinational Energy Company Expand resources Big Maximize value along the…
  7. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 7
    PTT Group Strategic Direction Investment priorities by geography and value chain Overview Performance & Roadmap Investment 2012 Outlook Internationalization Australia, N. Middle ASEAN Asia and S. Asia Non- EastAsia Non- AfricaAsia…
  8. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 8
    Contents Overview Performance & Roadmap Investment 2012 Outlook Overview & Highlight Performance 2011 & Roadmap Investment 2012 Outlook 7
  9. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 9
    Exploration & Production Performance : PTTEP (65.29%) Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal Product Prices Net Income (100%) Unit: MMUSD 101.7 102.7 102.2 6% Liquid…
  10. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 10
    Exploration & Production Roadmap : PTTEP Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal Target Sales Volume Proved Reserves Unit: KBOED Total 969 MMBOE 16% 345 Overseas 330…
  11. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 11
    Gas Business Performance : Natural Gas Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal NG Sales Volume Gas BU EBITDA Unit: MMSCFD AVG. 4,330 Unit: MMTHB 4,249 2011 4,145 4,148 4,161…
  12. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 12
    Gas Business Performance: GSPs & NGV Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal GSP - Reference Product Prices NGV EBIT Loss Unit : USD/Ton Unit : MMTHB PP Q3/11 Q4/11 2010…
  13. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 13
    Gas Business Roadmap Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal Unit : MMSCFD 6,000 7% NGV 7% 16% Industry 4,000 6% 13% 18% GSP 21% Power 2,000 59% - EGAT 60% - IPP -…
  14. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 14
    Oil Business Performance : PTT Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal Contribution Margin* Oil BU - EBITDA 9% Unit : THB/Liter Unit : MMTHB 13,224 12,126 11,973 0.77…
  15. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 15
    International Trading Business Performance : PTT Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal Contribution Margin Trading BU - EBITDA* Unit :THB/Liter Unit : MMTHB 1% 2,188…
  16. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 16
    Refining Business Performance Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal GRM/GIM Net Income (100%) Unit : USD/BBL 9.40 Unit : MMTHB 39% A/C GIM 7.37 32,455 6.87 5.90 BCP…
  17. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 17
    Refining Business Roadmap Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal 2012 2013 2014 2015 2016 PTT 49.10% PX & BZ Upgrading HCU Revamp Benzene Power Plant Power Plant PX 100 KTA…
  18. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 18
    Petrochemical Business Performance Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal Spread Margins Net Income (100%) Unit : USD/Ton Unit : MMTHB 71% HDPE-Naphtha PX-Naphtha 37,086…
  19. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 19
    Petrochemical Business Roadmap Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal 2012 2013 2014 2015 2016 PTT 48.92% Refining 280 KTA NatureWorks 50% PLA 70 KTA Olefins 2,888 KTA…
  20. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 20
    Other Businesses : Coal - SAR (45.4%) Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal Average SAR Selling Price Net Income (100%) Unit : USD/Ton Unit : MMUSD 116% 190 100 97% 93…
  21. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 21
    Coal Mining Roadmap Overview Performance & Roadmap Investment 2012 Outlook E&P Gas Oil & Trading Refining PetChem Coal Target Production Volume Resources & Reserves Unit : MMTon Reserves 146 MMTon Sebuku 14.0 2% 12.0 Sebuku…
  22. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 22
    PTT Consolidated Performance : 2011 Overview Performance & Roadmap Investment 2012 Outlook 106 Dubai (USD/BBL) 78 Others PTTEP 4% Unit : MMTHB 28% 6% PTT - Gas 16% 2,428,165 Revenue 1,898,682 74% Revenue PTT - Oil &…
  23. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 23
    Statement of Financial Position : Solid and Secured Overview Performance & Roadmap Investment 2012 Outlook Unit: MMTHB Increased assets : GSP6 Strong Financial Position PTTLNG WIP of 4th pipeline Platform compression 40% KKD…
  24. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 24
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income Overview Performance & Roadmap Investment 2012 Outlook EPS DPS % Dividend Payout 43.6% 40.4% 32.4% 32.6% 29.8% 30.1%…
  25. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 25
    Contents Overview Performance & Roadmap Investment 2012 Outlook Overview & Highlight Performance & Roadmap Investment 2012 Outlook 24
  26. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 26
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 358 bn (12bn) during 2012-2016 Overview Performance & Roadmap Investment 2012 Outlook Unit: MMTHB CAPEX Breakdown : 5 Years R&D By Business Unit JV & Investment…
  27. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 27
    PTT Group CAPEX 2012 2016 THB 900 BN* Overview Performance & Roadmap Investment 2012 Outlook Biochemical Specialty R&D P&R** 2% 16% Thailand 54% SE Asia 22% Coal Other Upstream E&P North America 15% Palm Oil Australasia 5%…
  28. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 28
    Contents Overview Performance & Roadmap Investment 2012 Outlook Overview & Highlight Performance & Roadmap Investment 2012 Outlook 27
  29. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 29
    Economic Outlook : 2012 Overview Performance & Roadmap Investment 2012 Outlook Positive Negative Fed planned to keep interest Irans threat to the Strait of rate exceptional low until late Hormuz will cause supply 2014 disruption…
  30. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 30
    Market Outlook Overview Performance & Roadmap Investment 2012 Outlook Global oil demand in 2012 is forecasted to grow 1.0 MMBPD, reaching 90.0 MMBPD, according to IEAs report in January 2012. Dubai crude oil price in 2012 is…
  31. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 31
    Market Outlook Overview Performance & Roadmap Investment 2012 Outlook Singapore GRM in 2012 is estimated to be at around US 6-7 per barrel A result of narrowed refining capacity surplus Lower global petroleum products demand…
  32. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 32
    2011 Highlights Economy European Financial turmoil leading to credit rating downgrade in Italy, Spain, and other 7 European countries Exceptionally low Fed rate at 0 0.25%; however, improvement of employment rate and CPI shown…
  33. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 33
    PTT Group Performance : 2011 Performance 100% % share Equity Method % PTT Unit : MMTHB 2010 2011 YoY 2010 2011 YoY PTT Company Only 54,457 73,434 35% 54,457 73,434 35% Less: Dividend Received 18,316 24,275 33% 18,316 24,275 33% Gain…
  34. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 34
    PTT Group Financial Stress Test Rationale We are operating under VUCA* circumstances European debt crisis Double dip economy in the U.S Natural disasters Objectives 1. Test the resilience and manage the solvency of the…
  35. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 35
    7-Step Approach 1 2 3 4 5 Build stress testing engine External Industry Company & capability scenarios Transmission ecosystem Transmission risk model to industry to company linkages model 7 6 Build Iterate for Run model…
  36. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 36
    Stress Scenarios Business Signs of Impending crisis Stress Extreme as usual weakness stress Recapitalization of bank balance sheets Euro zone Europe in progress Orderly defaults of PIIGS breakdown Manufacturing and service sectors…
  37. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 37
    Mitigation Plan to Ensure Resilience Base case (from business plan 2012) Stress case Range of impact of stress Actions to take before the stress scenario materializes Monitor scenario through lead indicators; incorporate into Business…
  38. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 38
    Data as of 31 December 2011 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production…
  39. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 39
    PTT Aspiration To perform listed company role in high returns (Technologically Advanced Green NOC) HPO Economic To perform SOE role in To perform energy company role public service Sustainable Growth in caring society &…
  40. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 40
    PTTs Strategic Importance to the Thai Economy PTT has the largest market cap on the SET Ministry of Finance holds majority stake in PTT SET Market Cap = Baht 9.6 trillion PTTEP 6.4% Vayupak PTTGC Fund 15% Public 3.5% PTT…
  41. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 41
    Statements of Cash Flows for Year 2011 & 2010 (PTT Only) 2010 2011 2010 2011 Operating 65,701 72,632 Investing -29,133 -15,270 Net Income 54,457 73,434 CAPEX(PP&E, Intangible asset) -18,925 -24,842 Changes in assets & liabilities…
  42. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 42
    Statements of Consolidated Cash Flows for Year 2011 & 2010 2010 2011 2010 2011 Operating 155,902 177,550 Investing -123,126 -160,454 83,992 105,296 CAPEX (PP&E, Intangible Net Income -105,916 -112,525 asset) Changes in assets &…
  43. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 43
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 5.04 % : Cost of debts 4.34 % : % fixed-rate 90 % : % fixed-rate 82…
  44. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 44
    2011 Year of Record Profit Unit : THB Billion 2,428 2,001 1,898 Record Year Revenue 1,508 1,586 1,214 Increasing sales volume 926 USD 80 bn from ESP, GSP6, Ethane 490 645 USD 60 bn 386 400 cracker (PTTPE) Stock gain as…
  45. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 45
    Strong Contributions from All Businesses Unit : THB Billion +25% Prices Drivers 105.3 Net Income Crude oil 106 /BBL (+40%) Petrochem 17.8 Accounting GRM 6.08 /BBL (+26%) +75% Spread HDPE 443 /Ton (-13%) 84.0 Refinery 13.4…
  46. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 46
    2010-2011 Accolades PTT is widely recognized among business communities both international and local 128th Fortune Global 500 171th The Biggest Listed Asia Talent Management 7thTop Asia Energy of 2011 Companies in the World Dow…
  47. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 47
    PTT Consolidated Performance : Q4/11 107 107 Dubai (USD/BBL) Others PTTEP 4% Unit : MMTHB 7% 8% PTT - Gas 648,365 16% 595,366 Revenue 73% PTT - Oil & Trading Revenue Q3/11 Q4/11 Others PTT - Oil & Trading 8% 4% 9%…
  48. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 48
    PTT Group Performance : Q4/11 Performance 100% % share Equity Method % PTT Unit : MMTHB Q3/11 Q4/11 QoQ 3Q/11 Q4/11 QoQ PTT Company Only 24,894 9,024 -64% 24,894 9,024 -64% Less: Dividend Received 13,182 493 -96% 13,182 493 -96%…
  49. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 49
    PTTEP: 2012-2016 CAPEX Total Expenditures (2012-2016) = US 20 Billion** CAPEX = US 12 Billion OPEX = US 8 Billion 5,168 4,129 1,571 3,495* 3,479 3,553 3,295 1,397 1,174 1,522 1,747 1,473 3,597 2,732 2,321 1,957…
  50. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 50
    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 2011-2030) : Total 1% : Power 1% : GSP 1% mmscfd : Industry…
  51. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 51
    Thailands Projected Energy Demand KTOE 180,000 163,812 160,000 145,604 Nuclear 2% 6% 1% 140,000 126,588 6% 15% 120,000 106,263 Hydro/Import4% 14% Renewable 13% 87,651 3% 15% 17% 100,000 13% Coal/Lignite 14% 2% 80,000…
  52. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 52
    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…
  53. MARCH 2012 INVESTOR UPDATE – PTT Public Company Limited – slide 53
    PTT International Future Growth of PTT Coal Pipeline Unit : MM Ton SAR EMG (Egypt) 14.0 12.0 9 10.7 10.7 8.5 Investing 25% in EMG Offshore natural gas pipeline system from Egypt to Israel 2008 2009 2010 2011 2012 2013 2011…

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