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2014 ANALYST MEETING – Irpc

Irpc · Feb 17, 2015 · 39 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. 2014 ANALYST MEETING – Irpc – slide 1
    Analyst Meeting 2014 17 February 2015
  2. 2014 ANALYST MEETING – Irpc – slide 2
    Disclaimer This presentation material has been prepared solely for informational purposes only. IRPC is furnishing it solely for use by prospective investors / analysts in the proposed event. IRPC makes no representations or warranties…
  3. 2014 ANALYST MEETING – Irpc – slide 3
    Agenda 1. 2014 Highlight 2. Achievement in 2014 3. Operation & Financial Performance 4. Industry Outlook 5. Strengthening Core Business in 2015 and Beyond 3
  4. 2014 ANALYST MEETING – Irpc – slide 4
    Highlight: 2014 Performance Overview of Business QoQ 27% YoY 8% Dubai YoY 30 % Unit: /bbl 106.8 101.5 105.5 96.6 1. In 4Q14, average Dubai price dropped to 74.4/bbl from 74.4 101.5/bbl in 3Q14, due to OPECs decision to keep output…
  5. 2014 ANALYST MEETING – Irpc – slide 5
    Highlight: Delta DELTA Benefit Summary Operational Excellence Actual Y2014 New upgraded LP (best-in-class standards VCM/LP Upgrade, Production Planning and tools), enabling optimum crude selection (USD M) Schedule Optimization…
  6. 2014 ANALYST MEETING – Irpc – slide 6
    Highlight: 2014 Update Fire Incident Update VGOHT Unit: Main long-lead items have been installed Reconstruction is on schedule Expect start-up in April 2015 Insurance Claim: 4Q14, recorded claims of 1,000 MB 2014, recorded claims…
  7. 2014 ANALYST MEETING – Irpc – slide 7
    Agenda 1. 2014 Highlight 2. Achievement in 2014 3. Operation & Financial Performance 4. Industry Outlook 5. Strengthening Core Business in 2015 and Beyond 7
  8. 2014 ANALYST MEETING – Irpc – slide 8
    Outstanding Achievement in 2014 Operation Implementation of Operational Excellence Management System (OEMS) PP plant improvement for cost reduction and new product development capability. Expand capacity of the deep sea port,…
  9. 2014 ANALYST MEETING – Irpc – slide 9
    Outstanding Achievement in 2014 Awards Thailand Top Company Awards 2014: category of Top Innovative Company Award Thailand Quality Class Award (TQC) for polypropylene plant Asia Pacific Entrepreneurship Awards 2014 for outstanding…
  10. 2014 ANALYST MEETING – Irpc – slide 10
    Agenda 1. 2014 Highlight 2. Achievement in 2014 3. Operation & Financial Performance 4. Industry Outlook 5. Strengthening Core Business in 2015 and Beyond 10
  11. 2014 ANALYST MEETING – Irpc – slide 11
    Better Petroleum Product Spreads /bbl Dubai ULG 95 GAS OIL 0.05% FUEL OIL 200 AVG. Price. 180 116.1 106.4 106.3 107.5 108.2 100.8 106.3 106.8 104.5 106.1 101.5 74.4 160 1 0.7 5 2 10 0.04 7 0.5 1.6 4.7 27 140 120 100 80 60…
  12. 2014 ANALYST MEETING – Irpc – slide 12
    Stable Performance of Lube Base Oil & Favourable Asphalt Spread /Ton FO 180 3.5%S 500SN 150BS Asphalt 1,600 1,400 1,200 1,000 800 600 400 200 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 0 500SN FO…
  13. 2014 ANALYST MEETING – Irpc – slide 13
    Rising Olefin Spreads Naphtha Ethylene Propylene HDPE PP /Ton 1,700 1,500 1,300 1,100 900 700 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 500 HDPE-Ethylene Naphtha Spread PP-Propylene Naphtha Spread…
  14. 2014 ANALYST MEETING – Irpc – slide 14
    Sliding Aromatics Spreads /Ton Naphtha Benzene Toluene Mixed Xylene 1,500 1,400 1,300 1,200 1,100 1,000 900 800 700 600 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 500 Benzene Naphtha Spread Toluene…
  15. 2014 ANALYST MEETING – Irpc – slide 15
    Mixed Performance of Styrenics /Ton Naphtha SM ABS PS 2,500 2,300 2,100 1,900 1,700 1,500 1,300 1,100 900 700 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 500 SM - Naphtha Spread /Ton ABS spread rose as its…
  16. 2014 ANALYST MEETING – Irpc – slide 16
    Crude Intake In 4Q14, the crude intake was 180 KBD ( 84% utilization), increasing by 11% compared to 3Q14 due to the fire incident in the VGOHT unit. In 2014, the crude intake was 172 KBD ( 80% utilization), decreasing by 5% compared…
  17. 2014 ANALYST MEETING – Irpc – slide 17
    Petroleum Production In 2014, there was a maintenance 52.4 48.9 Unit: Mbbl shutdown for 23 days between 18 0.9 4.7 0.8 March and 9 April. 3.5 LPG & Other 5.4 maintenance shutdown 4.8 Naphtha Gasoline 26.3 25.5 Diesel 12.7…
  18. 2014 ANALYST MEETING – Irpc – slide 18
    Petrochemical Production Aromatics & Styrenics Olefins Utilization rate of aromatics & styrenics in 4Q14 was 74%, Utilization rate of olefins in 4Q14 was 77%, dropping by 8% dropping by 15% compared to 3Q14, because of planned compared…
  19. 2014 ANALYST MEETING – Irpc – slide 19
    4Q14 Net Sales Revenue Sale Value 4Q14 Sale Volume Metrics Unit: MB 74,769 68,507 60,949 4Q13 3Q14 4Q14 24% Petrochemical 23% 23% Export Petroleum 41% Local 41% 39%38% +1% from Power & Utility 59% 30% 75% 29% 30% 75% 76% 23% 19%…
  20. 2014 ANALYST MEETING – Irpc – slide 20
    GIM in 2014 Market GIM Accounting GIM /bbl Power & Utility Petrochem Petroleum /bbl Hedging Stk G/(L) & LCM Market GIM 10.4 6.5 7.8 1.1 7.6 8.9 6.7 7.0 8.5 9.2 8.4 1.3 5.4 4.6 3.0 3.5 0.8 1.2 0.9 1.2 2.3 1.1 1.9 0.8 3.4 1.2 3.5…
  21. 2014 ANALYST MEETING – Irpc – slide 21
    Financial Highlight: Quarterly Quarter % Change Unit : MB Remark 4Q14 4Q13 3Q14 YoY QoQ Net sales 60,949 74,769 68,507 (18) (11) Net Sales YoY: 18% from price, volume 0% QoQ: 17% from price, volume 6% Market GIM 5,688 3,302 3,357 72…
  22. 2014 ANALYST MEETING – Irpc – slide 22
    Financial Highlight: Yearly Unit : MB 2014 2013 %Change Remark Net Sales Net sales 272,968 282,649 (3) declined by 3% caused by a decrease in the sale volume Market GIM 15,788 14,206 11 Market GIM: 7.6/bbl 0.6/bbl = 1,582 MB 1.…
  23. 2014 ANALYST MEETING – Irpc – slide 23
    Tax Loss as at 31 December 2014 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 (1) 2017 10,210 6,115 20% 1,223 4,095…
  24. 2014 ANALYST MEETING – Irpc – slide 24
    Debt Portfolio Debt Profile Unit: MB Debt Structure As of Dec 31, 2014 ST Net Debt = 58,782 MB Loan 37,907 54,145 58,782 Net Debt Debt (MB) 15% Bond LT 57,333 60,791 (THB) ST Loan 8,847 Loan 45% Bond 27% LT Loan 16,459 43,031…
  25. 2014 ANALYST MEETING – Irpc – slide 25
    Agenda 1. 2014 Highlight 2. Achievement in 2014 3. Operation & Financial Performance 4. Industry Outlook 5. Strengthening Core Business in 2015 and Beyond 25
  26. 2014 ANALYST MEETING – Irpc – slide 26
    Challenging Crude Oil Market: Volatile Crude Oil Price 26
  27. 2014 ANALYST MEETING – Irpc – slide 27
    A New Normal for Oil 27
  28. 2014 ANALYST MEETING – Irpc – slide 28
    Plunging Oil Price Hurts High-Cost Producers: Russia Hit Hardest US Gulf Deepwater Permian Basin Norway Brazil Deepwater Northern Iraq Bakken Utica & Miss. Lime US Shale Oil Russia Eagle Ford Angola Deepwater Nigeria…
  29. 2014 ANALYST MEETING – Irpc – slide 29
    Oil Production Costs for Various Resource Categories Source: IEA 29
  30. 2014 ANALYST MEETING – Irpc – slide 30
    Floating Storage Expected to Play Key Role THE COST OF STORAGE AND IN TURN OF MARKET CONTANGO WILL BE A CRUCIAL REGION NAME STORAGE FACTOR. (MIL. BBL.) SOUTH EAST ASIA 41.68 PIRA EXPECTED MIDDLE EAST GULF 41.46 CRUDE BALANCES…
  31. 2014 ANALYST MEETING – Irpc – slide 31
    The Bright Side of Low Oil Prices: Impacts to World Economy GDP impact if oil price dropped by 20 /bbl Baseline Scenario in 2015: Brent = 84 /bbl. The worst case scenario: Oil price declined to 40 /bbl. Every 20 /bbl oil price decline…
  32. 2014 ANALYST MEETING – Irpc – slide 32
    Potential Upside for Petrochemical Asia Propylene Capacity Additions Southeast Asia Polypropylene Supply & Demand 7 6 5 Million Metric Tons 4 3 2 1 0 -1 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018…
  33. 2014 ANALYST MEETING – Irpc – slide 33
    Benefits of Lower Crude Oil Prices : Summary Fuel Cost Decrease Better Refining Margin Lower crude price results in lower costs of fuel usage. A price drop of 50 /bbl would reduce fuel costs by around 3 /bbl, given fuel usage of…
  34. 2014 ANALYST MEETING – Irpc – slide 34
    Agenda 1. 2014 Highlight 2. Achievement in 2014 3. Operation & Financial Performance 4. Industry Outlook 5. Strengthening Core Business in 2015 and Beyond 34
  35. 2014 ANALYST MEETING – Irpc – slide 35
    Strengthening Core Business in 2015: Delta Project Y2015 118 M DELTA Organisation HR EXcellence OPerational EXcellence COMmercial EXcellence Procurement & HR EXcellence 70.7 M 26.4 M 20.9 M 7 Workstreams 2 Workstreams…
  36. 2014 ANALYST MEETING – Irpc – slide 36
    Strengthening Core Business in 2015 : UHV Project Product Yield Benefit Increase propylene yield 320 KTA Heavy and cheaper crude processing COD : 3Q15 100% 2% 2% Ethylene As of January 2015 overall progress at 90% 6% 16% 5%…
  37. 2014 ANALYST MEETING – Irpc – slide 37
    Strategic Initiatives: Roadmap to Success 2015: UHV Completion 2013 Crude Run 215 KBD 100% Crude Run 181 KBD 84% Nelson Complexity Index 8.6 Nelson Complexity Index More stable portfolio of Revenue: 6.6 Petroleum/Petrochemical &…
  38. 2014 ANALYST MEETING – Irpc – slide 38
    Q & A Environment Social Education & Sports Labor & Human Rights Religion Public Health The future begins now creating shared value 38
  39. 2014 ANALYST MEETING – Irpc – slide 39
    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…

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