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ANALYST MEETING – PTT Public Company Limited

PTT Public Company Limited · Feb 27, 2012 · 54 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. ANALYST MEETING – PTT Public Company Limited – slide 1
    Analyst Meeting Q4 and FY 2011
  2. ANALYST MEETING – PTT Public Company Limited – slide 2
    Contents 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 1
  3. ANALYST MEETING – PTT Public Company Limited – slide 3
    2011 Highlights 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Economy European Financial turmoil leading to credit rating downgrade in Italy, Spain, and other 7 European countries…
  4. ANALYST MEETING – PTT Public Company Limited – slide 4
    2011 Year of Record Profit 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Unit : THB Billion 2,428 2,001 1,898 Record Year Revenue 1,508 1,586 1,214 Increasing sales volume 926 USD USD 80…
  5. ANALYST MEETING – PTT Public Company Limited – slide 5
    Strong Contributions from All Businesses 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Unit : THB Billion +25% Prices Drivers 105.3 Net Income Crude oil 106 /BBL (+40%) Petrochem 17.8…
  6. ANALYST MEETING – PTT Public Company Limited – slide 6
    2010-2011 Accolades PTT is widely recognized among business communities both international and local 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 128thh Fortune Global 500 171thh The Biggest…
  7. ANALYST MEETING – PTT Public Company Limited – slide 7
    Contents 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 6
  8. ANALYST MEETING – PTT Public Company Limited – slide 8
    Exploration & Production Performance : PTTEP (65.29%) 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal Product Prices Net Income (100%) Unit: MMUSD 101.7…
  9. ANALYST MEETING – PTT Public Company Limited – slide 9
    Exploration & Production Roadmap : PTTEP 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal Target Sales Volume Proved Reserves Unit: KBOED Total 969…
  10. ANALYST MEETING – PTT Public Company Limited – slide 10
    Gas Business Performance : Natural Gas 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal NG Sales Volume Gas BU EBITDA Unit: MMSCFD AVG. 4,330 Unit: MMTHB…
  11. ANALYST MEETING – PTT Public Company Limited – slide 11
    Gas Business Performance: GSPs & NGV 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal GSP - Reference Product Prices NGV EBIT Loss Unit : USD/Ton Unit :…
  12. ANALYST MEETING – PTT Public Company Limited – slide 12
    Gas Business Roadmap 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 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…
  13. ANALYST MEETING – PTT Public Company Limited – slide 13
    Oil Business Performance : PTT 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal Contribution Margin* Oil BU - EBITDA 9% Unit : THB/Liter Unit : MMTHB…
  14. ANALYST MEETING – PTT Public Company Limited – slide 14
    International Trading Business Performance : PTT 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal Contribution Margin Trading BU - EBITDA* Unit :THB/Liter…
  15. ANALYST MEETING – PTT Public Company Limited – slide 15
    Refining Business Performance 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal GRM/GIM Net Income (100%) Unit : USD/BBL 9.40 Unit : MMTHB 39% A/C GIM…
  16. ANALYST MEETING – PTT Public Company Limited – slide 16
    Refining Business Roadmap 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal 2012 2013 2014 2015 2016 PTT 49.10% 49 10% PX & BZ Upgrading HCU Revamp Benzene…
  17. ANALYST MEETING – PTT Public Company Limited – slide 17
    Petrochemical Business Performance 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal Spread Margins Net Income (100%) Unit : USD/Ton Unit : MMTHB 71%…
  18. ANALYST MEETING – PTT Public Company Limited – slide 18
    Petrochemical Business Roadmap 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal 2012 2013 2014 2015 2016 PTT 48.92% Refining 280 KTA NatureWorks 50% PLA…
  19. ANALYST MEETING – PTT Public Company Limited – slide 19
    Other Businesses : Coal - SAR (45.6%) 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal Average SAR Selling Price Net Income (100%) Unit : USD/Ton Unit :…
  20. ANALYST MEETING – PTT Public Company Limited – slide 20
    Coal Mining Roadmap 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test E&P Gas Oil & Trading Refining PetChem Coal Target Production Volume Resources & Reserves Unit : MMTon Reserves 146 MMTon…
  21. ANALYST MEETING – PTT Public Company Limited – slide 21
    PTT Consolidated Performance : 2011 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 106 Dubai (USD/BBL) 78 Others PTTEP 4% Unit : MMTHB 28% 6% PTT - Gas 16% 2,428,165 Revenue 1,898,682 74%…
  22. ANALYST MEETING – PTT Public Company Limited – slide 22
    PTT Group Performance : 2011 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Performance 100% % share Equity Method % PTT Unit : MMTHB 2010 2011 YoY 2010 2011 YoY PTT Company Only 54,457 73,434 35%…
  23. ANALYST MEETING – PTT Public Company Limited – slide 23
    Statement of Financial Position : Solid and Secured 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Unit: MMTHB Increased assets : GSP6 Strong Financial Position PTTLNG WIP of 4th pipeline…
  24. ANALYST MEETING – 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 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test EPS DPS % Dividend Payout 43.6%…
  25. ANALYST MEETING – PTT Public Company Limited – slide 25
    Contents 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 24
  26. ANALYST MEETING – PTT Public Company Limited – slide 26
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 358 bn (12bn) during 2012-2016 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Unit: MMTHB CAPEX Breakdown B kd : 5 Years Y…
  27. ANALYST MEETING – PTT Public Company Limited – slide 27
    PTTEP: 2012-2016 CAPEX 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Total Expenditures (2012-2016) = US 20 Billion** CAPEX = US 12 Billion OPEX = US 8 Billion 5,168 4,129 1,571 3,495*…
  28. ANALYST MEETING – PTT Public Company Limited – slide 28
    PTT Group CAPEX 2012 2016 THB 900 BN* 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Biochemical Specialty R & D P&R** 2% 16% Thailand 54% SE Asia 22% Coal Other Upstream E&P North America…
  29. ANALYST MEETING – PTT Public Company Limited – slide 29
    Contents 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 28
  30. ANALYST MEETING – PTT Public Company Limited – slide 30
    Economic Outlook : 2012 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Positive Negative Fed planned to keep interest Irans threat to the Strait of rate exceptional low until late Hormuz will…
  31. ANALYST MEETING – PTT Public Company Limited – slide 31
    Market Outlook 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Global oil demand in 2012 is forecasted to grow 1.0 MMBPD, reaching 90.0 MMBPD, according to IEAs report in January 2012. Dubai…
  32. ANALYST MEETING – PTT Public Company Limited – slide 32
    Market Outlook 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Si Singapore GRM iin 2012 is i estimated ti t d to t be at around US 6-7 per barrel A result of narrowed refining capacity…
  33. ANALYST MEETING – PTT Public Company Limited – slide 33
    Contents 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 32
  34. ANALYST MEETING – PTT Public Company Limited – slide 34
    PTT Group Financial Stress Test 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Rationale We are operating p g under VUCA* circumstances European debt crisis Double dip economy in the U.S…
  35. ANALYST MEETING – PTT Public Company Limited – slide 35
    7-Step Approach 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test 1 2 3 4 5 Build stress testing engine External Industry Company & capability scenarios Transmission ecosystem Transmission risk…
  36. ANALYST MEETING – PTT Public Company Limited – slide 36
    Stress Scenarios 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Business Signs of Impending crisis Stress Extreme as usual weakness stress Recapitalization of bank balance sheets Euro zone Europe…
  37. ANALYST MEETING – PTT Public Company Limited – slide 37
    Mitigation Plan to Ensure Resilience 2011 Highlights Performance & Roadmap Investment 2012 Outlook PTT Group Stress Test Base case (from business plan 2012) Stress case Range of impact of stress Actions to take before the stress…
  38. ANALYST MEETING – PTT Public Company Limited – slide 38
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  39. ANALYST MEETING – PTT Public Company Limited – slide 39
    Oil Balance Thailand: Jan - Dec 2011 Adequate refining capacity maintains the stability of supply Supply Production Sales I Import t (80%) D ti Domestic Imported Refined Petroleum Products 54 KBD 848 KBD Crude/ Refined…
  40. ANALYST MEETING – PTT Public Company Limited – slide 40
    Natural Gas Balance: Jan Dec 2011 Main driver of the Thai economy Supply Production Sales Ethane/ Total 4,167 MMSCFD Indigenous (78%) Propane/ 3,253 MMSCFD LPG/NGL Petrochemical Feedstock (14%) Chevron 2,469 MMSCFD 867 MMSCFD…
  41. ANALYST MEETING – PTT Public Company Limited – slide 41
    Our Major Businesses & Activities Oil & Gas Balance Operational Results Financial Performance Economic & Market Outlook Business Areas Company PTTs holding (%) Activities Upsstream E&P PTTEP 65.29% Exploration and Production…
  42. ANALYST MEETING – PTT Public Company Limited – slide 42
    Data as of 31 December 2011 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group S b idi i Subsidiaries C Consolidate lid t Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT…
  43. ANALYST MEETING – PTT Public Company Limited – slide 43
    PTTs Strategic Importance to the Thai Economy PTT has the largest market cap on the SET SET Market Cap = Baht 9.3 trillion PTTEP 6.6% PTTGC 3.6% PTT Others Group TOP 75.8% 24.2% 1.7% PTT IRPC 10.9% 1.0% 100 BCP & 118…
  44. ANALYST MEETING – PTT Public Company Limited – slide 44
    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 &…
  45. ANALYST MEETING – PTT Public Company Limited – slide 45
    PTT Group Strategic Direction Investment priorities by geography and value chain Internationalization Australia, N. Middle ASEAN Asia and S. Asia Non- EastAsia Non- AfricaAsia Non- Asia Europe Non- Asia Americas Upstream…
  46. ANALYST MEETING – PTT Public Company Limited – slide 46
    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…
  47. ANALYST MEETING – PTT Public Company Limited – slide 47
    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 &…
  48. ANALYST MEETING – PTT Public Company Limited – slide 48
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unitt : MMTHB U PTT Only Consolidated : Cost of debts 5.04 % : Cost of debts 4.34 % : % fixed-rate 90 % : % fixed-rate…
  49. ANALYST MEETING – PTT Public Company Limited – slide 49
    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%…
  50. ANALYST MEETING – PTT Public Company Limited – slide 50
    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 24,894 9 024 9,024 -64% 24 894 24,894 9 024 9,024 -64% Less: Dividend Received…
  51. 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 2011-2030) : Total 1% : Power 1% : GSP 1% mmscfd : Industry…
  52. ANALYST MEETING – PTT Public Company Limited – slide 52
    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%…
  53. ANALYST MEETING – PTT Public Company Limited – slide 53
    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…
  54. ANALYST MEETING – PTT Public Company Limited – slide 54
    PTT International Future Growth of PTT Coal Pipeline Unit : MM Ton SAR EMG (Egypt) 14.0 12.0 9 10.7 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…

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