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MAY 2015 CORPORATE PRESENTATION – Irpc

Irpc · May 25, 2015 · 35 slides

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Slides

  1. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 1
    IRPC Public Company Limited Opportunity Day 25 May 2015 Refinery Petrochemical Port & Tank Asset Management
  2. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 2
    1 1Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 3
  3. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 3
    Highlight: 1Q/15 Performance Overview of Business QoQ 30% Dubai YoY 50 % 104.5 1. In 1Q/15, average Dubai price dropped to 51.9 Unit: /bbl 74.4 51.9 /bbl from 74.4 /bbl in 4Q/14, because OPEC maintained high level of production and US…
  4. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 4
    Highlight: Delta Project DELTA Benefit Summary Unit: MUSD Operational Excellence Actual New upgraded LP (best-in-class 2014 1Q/15 standards tools), enabling optimum VCM/LP Upgrade, Production Planning and crude selection Schedule…
  5. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 5
    Highlight: 1Q/15 Update Fire Incident Update VGOHT Unit: Completion of repair and replacement for defective equipment with VGOHTs commission and stability production test run COD on April 12, 2015 Insurance Claim: Expected receipt of…
  6. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 6
    1 1Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 7
  7. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 7
    Petroleum Performance Dubai Crude Price & Petroleum Product Spreads Global crude oil price is still under pressure /bbl 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 from excess crude supply from both OPEC Dubai (DB) 104.5 106.1 101.5 74.4 51.9 and…
  8. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 8
    Petroleum Performance Crude Intake 80% 80% 76% 84% 84% %Utilization In 1Q/15, the crude intake was 180 KBD 172 173 163 180 180 Crude Run (KBD) (84% utilization), similar to the rate in 16% 11% 8% 17% 14% 4Q/14 as the VGOHT unit…
  9. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 9
    Petrochemical Performance Olefins Product Price & Spreads /Ton 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 HDPE spread against Naphtha decreased due to the increase of Naphtha (NP) 935 951 913 647 494 Naphtha price caused by lower Ethylene-NP 507…
  10. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 10
    Petrochemical Performance Utilization Rate Sales Volume 85% 80% 87% 74% 77% Aromatics& Aromatics and Styrenics Styrenics K.MT Olefins 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 361 1Q14 2Q14 3Q14 4Q14 1Q15 343 347 Utilization rate of…
  11. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 11
    Overall Performance Market GIM Accounting GIM /bbl Power & Utility Petrochem Petroleum /bbl Oil Hedging Stock G/(L) & LCM Market GIM 13.1 12.5 10.4 1.1 9.2 -6.0 7.8 1.1 8.5 5.4 6.7 5.0 1.1 3.0 1.3 4.6 1.9 0.8 1.2 1.9 13.1 3.4…
  12. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 12
    Gain from Reversing Doubtful Account December 2014 The Board of Directors approved a land purchasing from TPI Aromatics Plc. February 2015 IRPC and Official Receiver entered into a land purchasing agreement April 2015 IRPC…
  13. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 13
    Financial Highlight: 1Q/15 Quarter % Change Unit : MB Remark 1Q/15 1Q/14 4Q/14 YoY QoQ Net sales 49,941 71,854 60,949 (30%) (18%) Net Sales YoY: product prices 39%, sales volume 9% Market GIM 7,014 3,970 5,688 77% 23% QoQ: product…
  14. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 14
    Debt Portfolio Debt Profile Unit: MB Debt Structure As of Mar 31, 2015 ST Net Debt = 54,568 MB Loan 45,381 58,782 54,568 Net Debt 8% LT Debt (MB) Bond Loan (THB) 29% ST Loan 4,752 60,791 49% 56,532 Bond LT Loan 16,389 48,355…
  15. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 15
    1 1Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 16
  16. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 16
    Challenging Crude Oil Market: Volatile Crude Oil Price 17
  17. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 17
    Crude Oil will Face the Over Supply Situation OPEC Production at the Full Tilt US weekly oil rig count vs. crude oil production The US rotary oil rig count experienced an uptrend in 2014, but that trend has OPEC 12 Crude Oil Production…
  18. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 18
    Potential storage revenue in current market sharply drop in 2H/15 Floating Storage Currently Uneconomic (5-Day Avg Through May 7,2015) /bbl Source: PIRA, Apr 15 Source: PIRA, Apr 15 Based on current floating storage, total…
  19. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 19
    Short-Term Crude Oil and Petroleum Products Outlook 2Q/15 3Q/15 Key Price Spread vs. vs. Driving Determinants Products (1Q/15) (1Q/15) 1Q/15 2Q/15 Refinery (/bbl) (/bbl) Outlook Outlook Crude prices are continuing to rise due to…
  20. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 20
    Short-Term Petrochemical Products Outlook 2Q/15 3Q/15 Key Price Spread vs. vs. Driving Determinants Products (1Q/15) (1Q/15) 1Q/15 2Q/15 Olefins (/Ton) (/Ton) Outlook Outlook Olefins market sentiment remained firm in Q2 supported…
  21. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 21
    1 1Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 22
  22. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 22
    Strengthening Core Business 1. DELTA 2. Specialty Product 3. Joint Venture 4. UHV 5. PPE+PPC Unit: MUSD Improve overall performance under the Delta Program 118 Operational Excellence 70.7 Commercial Excellence 26.4…
  23. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 23
    Strengthening Core Business 1. DELTA 2. Specialty Product 3. Joint Venture 4. UHV 5. PPE+PPC Strategic move to High-Value Specialty Products Sales volume (Ton) 500,000 0.7 450,000 1.5X 60% 0.6 400,000 54% 1.3X 350,000 1.2X 47%…
  24. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 24
    Strengthening Core Business 1. DELTA 2. Specialty Product 3. Joint Venture 4. UHV 5. PPE+PPC IRPC A & L Company Limited Sales Plan Ton Distribute ABS and ABS Color Compound Products for the automotive industry, electronics, and office…
  25. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 25
    Strengthening Core Business 1. DELTA 2. Specialty Product 3. Joint Venture 4. UHV 5. PPE+PPC IRPC Polyol Company Limited & Polyol Base Sales Plan PCC Rokita SA (Poland) 30,000 Ton Max capacity 25,000 MTA Signed a joint venture…
  26. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 26
    Strengthening Core Business 1. DELTA 2. Specialty Product 3. Joint Venture 4. UHV 5. PPE+PPC Capacity IRPC Clean Power Company Limited The Company was incorporated on June 20, 2014 2015: COD Aux Boiler: Steam 100 T/h Co-gen 1 unit:…
  27. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 27
    Strengthening Core Business 1. DELTA 2. Specialty Product 3. Joint Venture 4. UHV 5. PPE+PPC Upstream Project for Hygiene & Value-added Products (UHV): Upgrading low value product (Fuel Oil) to be high value-added product for…
  28. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 28
    Strengthening Core Business 1. DELTA 2. Specialty Product 3. Joint Venture 4. UHV 5. PPE+PPC IRPC Petrochemical Business Analysis PP PP Inline Compound 635 KTA (PPC) PP Existing PP Expansion PPC 475 KTA 160 KTA 140 KTA PP…
  29. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 29
    Strategic Initiatives: Roadmap to Success 2014 After UHV Completion Crude Run 172 KBD 80% Crude Run 215 KBD 100% Nelson Complexity Index 6.6 Nelson Complexity Index 8.6 Portfolio of Revenue: More stable portfolio of Revenue:…
  30. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 30
    Q & A Environment Social Education & Sports Labor & Human Rights Religion Public Health The future begins now creating shared value 31
  31. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 31
    Thank You Investor Relations Contact: irirpc.co.th Tel. 02-649-7380, Fax. 02-649-7379 Presentation is available at www.irpc.co.th Click Presentations This presentation material has been prepared solely for informational purposes…
  32. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 32
    1 1Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 33
  33. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 33
    Highly Integrated and Optimized Configuration Feed (Crude Oil / Condensate) Atmospheric Distillation Unit Power Plant (ADU) 1, 2 215 KBD Lube Base Electricity 108 MW/220 MW (CHPI) Lube Base Oil 320 KTA Steam 200 T/h/420 T/h (CHP I)…
  34. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 34
    Backup
  35. MAY 2015 CORPORATE PRESENTATION – Irpc – slide 35
    Deferred Tax Assets Unit: MB Tax loss not yet Loss carry Deferred Tax Assets Booking recognized as Expiry year forward Deferred Tax Deferred Tax Tax loss Tax rate Assets Assets 2017 (1) 10,210 6,115 20% 1,223 4,095 2019 7,985…

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