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ANALYST MEETING – PTT Public Company Limited

PTT Public Company Limited · May 20, 2008 · 40 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
    PTTs Analyst Meeting 1Q/2008
  2. ANALYST MEETING – PTT Public Company Limited – slide 2
    Content Content Activities & Operational Results Financial Performance Conclusion 3
  3. ANALYST MEETING – PTT Public Company Limited – slide 3
    Performance Highlights in 1Q/2008 PTT On February 1, 2008, PTT and the Treasury Department have signed the MOU for the rental of assets transferred to the MOF, rental fee of which is calculated based on the revenue sharing concept.…
  4. ANALYST MEETING – PTT Public Company Limited – slide 4
    Performance Highlights in 1Q/2008 (Continued) Petrochemical and Refining Businesses On March 24, 2008, PTT, Asahi Kasei Chemicals Corporation (AKCC) and Marubeni have signed the Shareholders Agreement for joint investment in…
  5. ANALYST MEETING – PTT Public Company Limited – slide 5
    Performance Highlights : 1Q/2008 results Revenues Revenues +65% YoY +13% QoQ 1Q/2008 Revenue Breakdown 489,890 Petrochem 8,846 Gas Unit : MM Baht 433,788 2% 14,555 13% PTTEP Intl 5% Trading 297,714 290,711 Oil 14,945…
  6. ANALYST MEETING – PTT Public Company Limited – slide 6
    Performance Highlights : 1Q/2008 results EBITDA EBITDA +12% YoY Unit : MM Baht +5% QoQ 36,812 1Q/2008 EBITDA Breakdown 35,026 337 Intl 32,876 1,515 Oil Trading Petrochem 3,405 1,979 Marketing 641 4,139 561 4%1% 1,061 5%…
  7. ANALYST MEETING – PTT Public Company Limited – slide 7
    Performance Highlights : 1Q/2008 results Net Net Income Income +16% YoY Unit : MM Baht +7% QoQ 1Q/2008 Net Income Breakdown Other 26,133 Associates 24,495 Refining 546 Associates. 2% 22,573 4,690 18% 775 6,124 PTT Petrochem…
  8. ANALYST MEETING – PTT Public Company Limited – slide 8
    Pipeline Business : Strong demand with new sources of supply Existing pipelines capacity 4,380 MMscfd Gas Sales Gas Sales Volumes Volumes (mmscfd) (mmscfd) heat heat 1,000 1,000 Customer Customer Profile Profile 2008 2007 2006…
  9. ANALYST MEETING – PTT Public Company Limited – slide 9
    Gas Separation Plants : volume and price increased 5 gas separation plants with combined capacity of 4.1 MT per year 1Q/08 Product Prices (/ton) Price (/ton) %YoY %QoQ 1,607 1,462 HDPE1/ HDPE 27% 10% 1,266 PP 20% 8% 1,510 PP 1/…
  10. ANALYST MEETING – PTT Public Company Limited – slide 10
    PTTEP Strong volume growth with potential upside PTT currently holds 65.72% Strong Earnings Strong Earnings Proven Proven Reserves Reserves 946 946 mboe mboe %YoY %QoQ Gas Liquid Reserves Life : 12 yrs Revenue + 33% - 2%…
  11. ANALYST MEETING – PTT Public Company Limited – slide 11
    PTTEPs potential and upcoming projects OCA-Cambodia W. Corridor/Myanmar E.Natuna-Indonesia MTJDA Natuna Expand to cover Indochina Basin Major to seek more gas reserves that can directly be a part of domestic transmission…
  12. ANALYST MEETING – PTT Public Company Limited – slide 12
    Oil Business : Strong Leadership Position with No.1 market share PTT is a market leader in oil retails at 35% market share with 1,185 gas stations nationwide. Oil Marketing : sales volume 258 kboe/d Thailands Market Share Unit :…
  13. ANALYST MEETING – PTT Public Company Limited – slide 13
    Refining Associates : GRM YoY sustained but poor aromatics P2F PTT Group represents 35% of total refining capacity by equity portion EBITDA NI %Utl Unit : MM Baht TOP 275 kbpd (PTT 49.10%) SPRC 150 kbpd (PTT 36%) 106 100 105 97…
  14. ANALYST MEETING – PTT Public Company Limited – slide 14
    PTTCH Capacity expansion and diversified portfolio Lower cost per unit and more stable income stream (PTT holds 49.30%) Performance Performance Product Prices Product Prices Unit : Bt mm 115 % Unit : USD/Ton 10 2 % 1,607 HDPE HDPE…
  15. ANALYST MEETING – PTT Public Company Limited – slide 15
    Content Content Activities & Operational Results Financial Performance Conclusion 16
  16. ANALYST MEETING – PTT Public Company Limited – slide 16
    Consolidated Income Statements With strong commitment to dividend payment Unit : Bt mm 1Q/2007 4Q/2007 1Q/2008 %YoY %QoQ Sales 297,714 433,788 489,890 64.55 12.93 Cost of sales (excl. DD&A) 261,221 391,558 448,524 71.70 14.55…
  17. ANALYST MEETING – PTT Public Company Limited – slide 17
    Balance Sheets : Maintained solid and secured financial position Balance Sheets Strong Financial Position ICR Unit : Bt mm 3rd pipeline started 14.7 commissioning De-conso RRC De-conso. PTTCH 14.1 Recognized BCP, 13.7 IRPC under…
  18. ANALYST MEETING – PTT Public Company Limited – slide 18
    Debt Profile : Control Cost & Manage Risk Debt portfolio is structured to natural hedge and minimize financial risks Debt Debt Portfolio Portfolio Consolidated Consolidated debt debt Bt215 Bt215 bn bn (6.8 (6.8 bn) bn) PTT…
  19. ANALYST MEETING – PTT Public Company Limited – slide 19
    Content Content Activities & Operational Results Financial Performance Conclusion 20
  20. ANALYST MEETING – PTT Public Company Limited – slide 20
    Conclusion Supply worries, political problems within the oil producing countries, production quota imposed by OPEC, the weaken of the USD coupled with commodity price speculation are key factors to keep oil price volatile at high…
  21. ANALYST MEETING – PTT Public Company Limited – slide 21
    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/ 22
  22. ANALYST MEETING – PTT Public Company Limited – slide 22
    Create Value Through Business 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…
  23. ANALYST MEETING – PTT Public Company Limited – slide 23
    E&P and Gas Business Group Oil Business Group Petrochemicals & Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production Plc. PTTEP 65.72% PTT…
  24. ANALYST MEETING – PTT Public Company Limited – slide 24
    PTTs Strategic Importance to the Thai Economy Ownership : Ministry of Finance Direct and Indirect 68%, Public 32% PTT PTT has has the the largest largest market market cap cap on on the the SET SET PTT PTT represents…
  25. ANALYST MEETING – PTT Public Company Limited – slide 25
    Recognition: Confidence & Credibility PTT is widely recognized among business community both local and international PTT PTT ratings ratings are are comparable comparable to to sovereign sovereign ratings ratings Foreign :…
  26. ANALYST MEETING – PTT Public Company Limited – slide 26
    Strategic Intents Drive Specific Sector Actions Focusing on business management execution through the PTT business groups Business Areas Major Operator (%) Activities Strategic Intents Core Value Creators PTTEP 65.72% Exploration…
  27. ANALYST MEETING – PTT Public Company Limited – slide 27
    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 2008-2021) : Total 5% kboed : Gas 5% : Oil 4% 3500 :…
  28. ANALYST MEETING – PTT Public Company Limited – slide 28
    Natural Gas : Strong and Increasing Demand over Long Term Natural gas is a fuel of choice for power producers and increasingly transportation industry Gas demand forecast (CAGR during 2008-2021) mmscfd : Total 5% : Power 4% 8,000 :…
  29. ANALYST MEETING – PTT Public Company Limited – slide 29
    PTTs CAPEX (company only) PTT plans to invest Bt 241 bn (7bn) during 2008-2012, mostly into expanding gas business Unit: MM Baht CAPEX 2008 - 2012 241,211 CAPEX 2008 65,563 Gas Oil JV HO&Others 71,905 5 Years CAPEX Breakdown…
  30. ANALYST MEETING – PTT Public Company Limited – slide 30
    Strategic Roadmap : Core Value Creators Infrastructure is under expansion to enhance capability to meet rising gas demand Gas Gas Demand Demand Outlook Outlook 6,000 Unit : mmscfd 0 8-2 01 2) 10% 0 5,000 CAGR (2 Industry 20%…
  31. ANALYST MEETING – PTT Public Company Limited – slide 31
    PTTEPs Sales Volume and Investment Profile Sales volume increases due to new projects coming on-steam; with continuous investment for the future Sales Sales Volume Volume 350 G R* = 7 % 300 5-Year CA Arthit Arthit North 278…
  32. ANALYST MEETING – PTT Public Company Limited – slide 32
    Strategic Roadmap : Integrated Value Enhancers Refinery New businesses are under development to utilize assets, enhance competitiveness, and diversify risks 2007 2009 2010 2011 2012 Total 2008 (MM) Refining Capacity Expansion…
  33. ANALYST MEETING – PTT Public Company Limited – slide 33
    Strategic Roadmap : Integrated Value Enhancers - Petrochemical New businesses are under development to utilize assets, enhance competitiveness, and diversify risks Total 2008 2009 2010 2011 2012 (MM) Debot I4- I4-2 75MM HDPE…
  34. ANALYST MEETING – PTT Public Company Limited – slide 34
    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…
  35. ANALYST MEETING – PTT Public Company Limited – slide 35
    Schedule : Major Projects Key projects are strategically linked and timely corresponding to meet demand. Gas Transmission Pipelines MYANMAR Current Capacity of 4,380 mmscfd LAOS Current pipeline length: 3,180 km Puhom -…
  36. ANALYST MEETING – PTT Public Company Limited – slide 36
    Refining Associates : Enhance group synergies with world class assets Refining Refining Capacity Capacity Olefins Olefins Aromatics Aromatics Power Power Others Others Complex TLB : 270 KTA IPT 700 MW FCCU1, HCU2, TCU3 PX…
  37. ANALYST MEETING – PTT Public Company Limited – slide 37
    Refinery business in Thailand PTT as the strong leadership position, ensures stable supply to downstream and related businesses PTT Group represents 35% of total refining capacity by equity portion Total refining capacity 1,137…
  38. ANALYST MEETING – PTT Public Company Limited – slide 38
    Cash Flow (Company Only) : Jan Mar 2008 Unit : Baht mm Operating 25,169 CAPEX & INVESTMENT (7,084) Net Income & non- non-cash 16,101* CAPEX (PP&E) (7,702) Adjustment Investment in Affiliates. (13,464) Changes in assets 9,068…
  39. ANALYST MEETING – PTT Public Company Limited – slide 39
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income EPS DPS % Dividend Payout 32.4% 32.6% 33.0% 30.1% 30.3% 30.9% 29.8% PTTs minimum payout ratio 34.82 25% 34.02…
  40. ANALYST MEETING – PTT Public Company Limited – slide 40
    Reference : Product Prices 2006 2007 2008 %YoY %QoQ 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q FX THB/USD ( end period) 38.9417 38.3295 37.6373 36.2308 35.1354 34.6679 34.3851 33.8850 31.6229 (10.0)% (7%) FX THB/USD (1Q Average) 39.4190 38.2242…

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