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MAY 2015 INVESTOR PRESENTATION – PTTEP

PTTEP · May 22, 2015 · 34 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. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 1
    PTT OPPORTUNITY DAY 22 MAY 2015
  2. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 2
    Contents Overview Performance Q1/15 Overview Performance Q1/15 1
  3. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 3
    Oil Balance Thailand: Jan Mar 2015 Adequate refining capacity maintains the stability of supply Overview Performance Q1/15 Supply Production Sales Import (79%) Domestic Imported Refined Petroleum Products 65 KBD 916 KBD Crude/…
  4. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 4
    Natural Gas Balance: Jan Mar 2015 Main driver of the Thai economy Overview Performance Q1/15 Supply Production Sales Ethane/ Gulf of Thailand (72%) Propane/ LPG/NGL Petrochemical Feedstock Chevron (13%) Others 28% 3,477 42%…
  5. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 5
    PTT is Thailands Largest Energy Company Overview Performance Q1/15 PTT Public Limited Company (PTT) Robust revenue and Net Income growth since IPO (MMUSD) Largest company on Thai Stock exchange 87,223 Market cap US57bn1 or THB1.9…
  6. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 6
    Our Major Businesses & Activities Overview Performance Q1/15 Business Areas Company PTTs holding (%) Activities Upstream E&P PTTEP 65.29% Exploration and Production Coal PTT Energy Resources 100% Coal Business PTT PLC…
  7. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 7
    Q1/15 Performance: PTT Group: Pressured performance Overview Performance Q1/15 MMTHB Refinery Avg. A/C GIM increased 13% 28,538 Aggregate intake increased 15% 14,297 21% Petrochem Refinery 1,526 Olefins business declined from…
  8. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 8
    Contents Overview Performance Q1/15 Overview Performance Q1/15 8
  9. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 9
    E&P : Weakened YoY from declined oil price, though strong gas price helped; Rebounded QoQ due to lack of impairments Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others Product Prices Sales Volume KBOED…
  10. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 10
    PTT EBITDA Performance: Overview Performance Q1/15 (Unit:MMTHB) Business Q1/14 Q4/14* Q1/15 QoQ YoY Segment Gas-EBITDA 14,311 9,680 9,262 (4%) (35%) S&M 4,753 3,290 2,476 (25%) (48%) TM 6,881 5,874 6,775 15% (2%) GSP 5,668…
  11. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 11
    Gas BU: Natural gas volume continues to grow Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume* NG Customer Breakdown MMSCFD 1% QoQ MMSCFD AVG. 9% YoY 4,832 4,832 4,802 4,450 4,802 4,832…
  12. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 12
    Gas BU : Lower GSP and industrial margins pressured Gas BU performance Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others GSP - Reference Product Prices GSP Sales Volume kTon 7% QoQ USD/Ton 1,556 8% YoY…
  13. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 13
    Thailands Energy Demand/Supply: Reform Bears Fruit Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others NGV LPG 15 Higher price , steady volume Lower import and sale vol. after restructuring M.Ton Industry Auto…
  14. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 14
    Oil BU : Volatile oil price led to continued stock loss Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others Petroleum Prices (Month-end Prices) USD/BBL Average Price: Q1/15 Q1/14 % YoY Sales Volume 2/ Gasoil…
  15. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 15
    Trading BU : Performance declined YoY from squeezed margin Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Sales Volume MM Liter 3% QoQ 105.19 29% QoQ 73.98 50% YoY 17% YoY 0.13…
  16. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 16
    Refining BU: Higher GRMs and no shutdown provided better performance Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others GRM/GIM Aromatics 104.5 Aromatics Production 74.4 51.9 A/C GIM Dubai 95% QoQ: 380% 89%…
  17. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 17
    Petrochemical BU: Pressured Olefins prices alleviated by Refinery and Aromatics margins Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others Refineries Aromatics CDU 101% 101% 102% BTX 91% 89% U-Rate YoY QoQ…
  18. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 18
    Other Businesses : Coal - SAR (95.26%) Cost reduction initiative relieved the effect of continuing coal price decline Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost Sales…
  19. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 19
    Other Businesses : Power - GPSC (22.58%) Better performance from higher power and steam sales Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others Sales Volume Net Income* (100%) GWh YoY QoQ MMBaht 548 % YoY 000…
  20. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 20
    Other Businesses : Power GPSC (22.58%) Project Updates Overview Performance Q1/15 E&P Gas Oil & Trading Refining PetChem Others GPSCs Growth Strategy 2,451-2,851 MW GPSCs aspiration MW breakdown in 2019 Additional Additional…
  21. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 21
    PTT Consolidated Performance: Q1/2015 Overview Performance Q1/15 Dubai 104.5 74.4 51.9 (USD/BBL) Q1/14 Q1/15 Others Unit : MMTHB 1% 1% 20% QoQ Refining 17% 15% 684,301 25% YoY 643,851 PetChem PTT - Oil & Trading Revenue…
  22. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 22
    Statement of Financial Position Overview Performance Q1/15 MMTHB Assets slightly declined : Drop in inventory and A/R was primarily from 0.2% international trading business due to reduction in 2,250,455 1,805,041 2,244,957…
  23. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 23
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income Overview Performance Q1/15 56.9% Dividend 43.6% 40.4% 34.7% 34.9% 35.5% 40.0% payout 32.4% 32.6% 29.8% 30.1% 30.3%…
  24. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 24
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 299 bn* (9bn) during 2015-2019 Overview Performance Q1/15 CAPEX revision : CAPEX Breakdown : 5 Years CAPEX lower by 1 bn from 10 bn previously By Business Unit…
  25. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 25
    Key Take Away Q1/15 vs Q1/14 Oil Price Bottomed out while Natural Gas Price still maintained Gas business pressured by lower petrochemical prices and gas price remained high Benefit from LPG/NGV price lifting and await for NGV further…
  26. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 26
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 4.58% : Cost of debts 4.50% : % fixed-rate 77% : % fixed-rate 74% :…
  27. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 27
    PTT Group Performance : Q1/2015 Performance 100% % share Equity Method % PTT Q1/14 Q1/14 Unit : MMTHB Q1/15 YoY Q1/15 YoY (Restate) (Restate) PTT Net operating Income 13,711 6,638 -52% 13,711 6,638 -52% E&P - PTTEP 12,435 8,616 -31%…
  28. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 28
    Statements of Consolidated Cash Flows : Q1/2015 Q1/14 Q1/15 Q1/14 Q1/15 Operating 91,258 104,337 Investing -39,231 -87,624 Net Income 28,538 22,584 CAPEX(PP&E, Intangible asset) -40,213 -46,059 Changes in assets & liabilities…
  29. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 29
    Statements of Cash Flows (PTT Only) : Q1/2015 Q1/14 Q1/15 Q1/14 Q1/15 Operating 24,301 18,806 Investing 17,080 -19,430 Net Income 21,558 12,083 CAPEX (PP&E, Intangible asset) -6,557 -31,639 Changes in assets & liabilities 5,266…
  30. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 30
    Data as of 31 March 2014 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production Plc.…
  31. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 31
    Natural Gas Price Structure : Jan-Mar 2015 Gas prices are mostly agreed under long-term contracts and volatility pass-through to ensure stable returns. Sales Price Structure Customers1 Gas Pool Price + Supply Margins + Pipeline…
  32. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 32
    Natural Gas : Strong and Increasing Demand over Long Term Natural gas is a fuel of choice for power producers and transportation industry Source : PTT 32
  33. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 33
    Thailands Projected Energy Demand Primary Energy Consumption KBD 3500 3,240 2,840 5% 3000 2,438 4% 13% Hydro/Import 13% 2500 2% Renewable 2,052 20% 13% 18% 2000 2% Coal/Lignite 11% 16% 15% 1500 36% 34% 40% 38%…
  34. MAY 2015 INVESTOR PRESENTATION – PTTEP – slide 34
    Gas Business Generates Stable Returns Overview Gas transmission pipeline capacity Sole owner and operator of entire gas transmission pipelines in Thailand ( 3,000 km), a regulated business IRROE ranges between Phu Hom 12.5% - 18%…

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