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Q1 2015 RESULTS – Bangchak Petroleum Plc

Bangchak Petroleum Plc · May 14, 2015 · 38 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. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 1
    The Bangchak Petroleum PLC Analyst Meeting 1Q2015 May 14, 2015
  2. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 2
    AGENDA 1 Quarterly Highlights 2 Brief Financial Performance Update 3 Moving Forward The Bangchak Petroleum Plc 2
  3. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 3
    AGENDA 1 Quarterly Highlights 2 Brief Financial Performance Update 3 Moving Forward The Bangchak Petroleum Plc 3
  4. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 4
    Performance Target for 1Q2015 1Q/15 Performance by business unit (Unit: THB Million) Target EBITDA EBITDA excluding Inventory Gain/Loss Target 2,564 FY2015 E&P Biofuel 7% 5% 988 751 798 740 781 713 713 Refinery 567 Solar…
  5. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 5
    Refinery Performance : Continue to run at high rate as market condition favor Consistently run above 105 KBD Crude Run (KBD) Product Yield (%) Utilization Rate 82% 85% 90% 3% LPG 4% 3% 102.48 108.63 +11% YoY 21% 20% 20%…
  6. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 6
    A decline in average crude prices and improve spreads lead to strong market GRM GRM Performance (/BBL) Factors affecting GRM Crude Cost (/BBL) Accounting GRM 6.88 -5.28 4.60 DTD/DB 4 0.48 2 0.16 0.31 10.19 8.45 0 6.41…
  7. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 7
    BCP Trading Channels : Retail customer is our priority Total Sales Volume Unit: Million Litre Portion Sold 1Q/14 4Q/14 1Q/15 Marketing Business Retail Customer +10% +1% 44% 713 777 782 YoY QoQ 43% 44% 44% Industrial…
  8. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 8
    Marketing Performance : Total sales volume continues to increase, less competition in industrial market, hence higher margin Marketing Sales Volume (Million Litre) Net MKM Contribution Performance (THB/Litre) +8% YoY 1,335 1,344 +1%…
  9. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 9
    Marketing Performance : Maintain 2nd rank market share Monthly sales volume through service station growth BCP Retail Market Share 15% 11% YoY 6.6% 10% 1.4% 10% YoY 1.4% 0.2% 5% Industry 5.5% 6.0% 0% 37.2% 13.0% 14.0%…
  10. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 10
    Solar Power : Contributing stable income Electricity sales by phase MWPPA 70 118 118 Phase 1 (Million kWh) 7 Target Actual Electricity Sales (Million kWh) 6 5 +67% YoY -3% QoQ 4 67 72 64 65 Phase 2 (Million kWh) 40 39 8…
  11. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 11
    Biofuel : Temporary decrease in biodiesel demand from change in government policy Daily Production and Sales Volume (K. Litre per day) B100 Mixing portion mandate B3.5 = 42 Days B3.5 = 68 Days 579 438 405 361 366 355…
  12. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 12
    E&P : The completion of acquiring additional stakes in existing production well Performance review (KBD) Continue to produce with positive performance Gross Production 6.70 6.51 Net to NIDO 3.5 2.50 Full Quarter 1.53…
  13. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 13
    AGENDA 1 Quarterly Highlights 2 Brief Financial Performance Update 3 Moving Forward The Bangchak Petroleum Plc 13
  14. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 14
    Key Financial Performance - Consolidated 1Q/15 Highlights Unit: THB Million 1Q/14 4Q/14 1Q/15 Inventory loss affected EBITDA contribution Sales Revenue 49,657 45,749 39,445 As crude price dropped in late FY2014 and continued…
  15. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 15
    EBITDA by Business Units - Consolidated EBITDA (THB Million) 1Q/14 4Q/14 1Q/15 YoY QoQ Total EBITDA 2,589 (1,256) 2,333 Refinery 1,450 (2,369) 798 Marketing 612 334 740 Solar Power 441 740 713 Biofuel 110 99 81 E&P 0…
  16. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 16
    BCP Group Performance - Consolidated Consolidation for 1Q/15 (THB Million) BCP BGN BBF BSE UBE BCPE NIDO Total Net Profit 940 3 50 435 54 (0) 22 % of Share holding 100% 70% 100% 21.28% 100% 81.41% Total Net Profit 940 3 35 435…
  17. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 17
    Key Financial Position - Consolidated Unit: THB Million Assets Liabilities & Equity 81,816 81,816 76,966 76,966 13,830 11,090 Current Liabilities Cash and Equivalents 7,954 9,997 Current Assets 10,282 8,667 Long Term Debt…
  18. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 18
    Key Financial Ratio - Consolidated Current Ratio (Times) Net IBD/E Ratio (Times) 2.86 2.88 0.64 0.64 0.67 2.62 2.48 0.59 0.55 1.91 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 Quick Ratio (Times)…
  19. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 19
    Consolidated Cash Flow Unit: THB Million 1Q/15 Profit for the period 1,056 Depreciation and amortization 1,052 Corporate tax and others (730) Change in working capital 5,200 Net cash from operating activities 6,578 Net cash used…
  20. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 20
    AGENDA 1 Quarterly Highlights 2 Brief Financial Performance Update 3 Moving Forward The Bangchak Petroleum Plc 20
  21. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 21
    Quality of Earnings : Overall performance improved from planned operation EBITDA (THB Million) +63% YoY +41% QoQ Without the effect of inventory G/L, EBITDA improved over time. 4,123 Advance planning to exploit opportunities…
  22. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 22
    Marketing Business : New fully equipped service stations 5 Flagship 35Standard The Bangchak Petroleum Plc 22
  23. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 23
    Marketing Business : New Non-oil concepts Inthanin Garden Concept - Pure Organic Arabica 100% 5 - 100% Bio Degradable Cups Prototype - More Bakery: Chocco - New Menu: Fruit Drinks, Yogurt Twist Stores in FY2015 The Bangchak…
  24. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 24
    Marketing Business : New Non-oil concepts Lemon Kitchen Lemon Kitchen What is it - Fast casual dining Concept - Fast, Fresh, Finesse design, Fusion 6 Prototype Stores in FY2015 The Bangchak Petroleum Plc 24
  25. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 25
    Exploring opportunity outside Thailand : Solar Japan Structure Review BSE CHOW 70% 30% Project Summary Location Mombara, Chiba Size 60 MW 40Yen/kWh Fit 12THB/kWh for 20 years Irradiation 4.0 kWh/m2/day Expected COD…
  26. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 26
    New investment prospect : Green Business Incubator Lithium Mining FY2025 Ceramics & Glass 15% lithium-ion battery Lubricating DEMAND 8% Greases 400,000 4% FY2014 tons Metallurgy Batteries Batteries 63% 10% Others…
  27. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 27
    Electric Vehicle & Hybrid Car are expected to be the main demand drivers of batteries in FY2025 Lithium Demand by Batteries Application (Forecast) Source: signumBOX, Jan 2015 Storage 2% Portable Devices Portable 33% EV& DEMAND…
  28. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 28
    New BCP shareholder: The best of both world Social Security Office Vayupak Social 14.43% Fund Security 0.35% Office 2.47% Vayupak Fund 15.60% Buy from PTT 11.96% Buy from Others PTT PTT 15.25% 59.98% 27.22% Others 59.98%…
  29. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 29
    Crude Oil Price Outlook Market rebalancing and price recovery will be limited /BBL 2014 1Q/14 4Q/14 1Q/15 Apr/15 May/15 (MTD) 2015 (YTD) WTI 92.90 98.61 73.20 48.57 54.63 59.62 50.77 Brent 99.45 107.76 77.07 55.13 61.14 66.52 57.29…
  30. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 30
    Petroleum Product Outlook : New refineries come online pressured gasoil spread Key Product Factors 2Q/15 Gasoline 95 - DB (Unit: /BBL) Demand response to low oil prices Outlook U.S. driving seasons Higher transportation during…
  31. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 31
    APPENDIX Profit and Loss (Consolidated) Profit and Loss (Company) Financial Performance: Refinery BU (Company) Marketing BU (Company) Biodiesel Business (BBF) Solar Business Financial Ratio (Consolidated)
  32. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 32
    Profit and Loss (Consolidated) Unit: THB Million 1Q2014 4Q2014 1Q2015 YoY% QoQ% Sales Revenue 49,657 45,749 39,445 -21% -14% EBITDA 2,589 (1,256) 2,333 -10% 286% Depreciation and Amortization (677) (1,128) (1,052) 55% -7% Gain…
  33. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 33
    Profit and Loss (Company) Unit: THB Million 1Q2014 4Q2014 1Q2015 YoY% QoQ% Sales Revenue 48,664 44,256 37,889 -22% -14% EBITDA 2,207 (1,328) 2,128 -4% 260% Depreciation and Amortization (623) (929) (825) 32% -11% Gain (loss) on…
  34. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 34
    Financial Ratio (Consolidated) Q12014 Q42014 Q12015 Profitability Ratios (%) EBITDA Margin 5.21% -2.74% 5.91% Profit Margin 3.19% -5.48% 2.68% Return on Assets (ROA) 7.63% 2.29% 1.39% Return on Equity (ROE) 1/ 11.38% 2.09%…
  35. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 35
    Financial Performance: Refinery BU (Company) 1Q2014 4Q2014 1Q2015 THB Million /BBL THB Million /BBL THB Million /BBL Market GRM 1,851 6.41 2,617 8.45 3,267 10.19 GRM Hedging 90 0.31 150 0.48 (136) (0.42) Inventory Gain/Loss 45 0.16…
  36. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 36
    Financial Performance: Marketing BU (Company) 1Q2014 4Q2014 1Q2015 THB Million Baht/L THB Million Baht/L THB Million Baht/L Net Retail Margin 677 0.95 722 0.93 739 0.95 Net Industrial Margin 156 0.30 176 0.32 272 0.48 Net…
  37. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 37
    Financial Performance: Solar Business Unit: THB Million 1Q2014 4Q2014 1Q2015 YoY% QoQ% Revenue 456 780 752 65% -4% Gross Profit 359 620 593 65% -4% Other Income/(Other Expense) 10 4 6 -43% 55% Operating Expense (6) (5) (5) -26%…
  38. Q1 2015 RESULTS – Bangchak Petroleum Plc – slide 38
    Financial Performance: Biodiesel BU (BBF) Unit: THB Million 1Q2014 4Q2014 1Q2015 YoY% QoQ% Revenue 439 300 229 -48% -23% Gross Profit 94 86 73 -22% -16% Other Income/(Other Expense) 0.24 0.33 1 186% 111% Operating Expense (8)…

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