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Q1 2014 RESULTS – Irpc

Irpc · May 14, 2014 · 32 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 2014 RESULTS – Irpc – slide 1
    Analyst Meeting 1Q14 14 May 2014
  2. Q1 2014 RESULTS – 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. Q1 2014 RESULTS – Irpc – slide 3
    Agenda I. 1Q14 Highlights II. Operation & Financial Performance III. Industry Outlook IV. Delta & UHV Project Update V. Appendix 3
  4. Q1 2014 RESULTS – Irpc – slide 4
    1Q14 Overview Overview of Business Dubai 108.2 106.8 1) In 1Q14, average Dubai price dropped to 104.5 Unit: USD/BBL 104.5/bbl from 106.8/bbl in 4Q13 largely influenced by refinery maintenance shutdown QoQ 4% season and concerns over…
  5. Q1 2014 RESULTS – Irpc – slide 5
    1Q14 Highlights Finance 1) Issuance of unsubordinated and unsecured debentures Total amount: 15,000 million baht tenors: 3, 5, 7 years; interest rate: 3.96%, 4.50%, 4.96% respectively Use of proceeds: refinancing and working capital…
  6. Q1 2014 RESULTS – Irpc – slide 6
    1Q14 Highlights Litigation Case 29 .. 2557 () .2/2543 () .8/2543 . ( . ) 5 5 27 .. 2549 29 .. 2557 1/2549 20 .. 2549 5 2/2549 26 .. 2549 1/2550 19 .. 2550 2550 20 .. 2550 6
  7. Q1 2014 RESULTS – Irpc – slide 7
    Agenda I. 1Q14 Highlights II. Operation & Financial Performance III. Industry Outlook IV. Delta & UHV Project Update V. Appendix 7
  8. Q1 2014 RESULTS – Irpc – slide 8
    More Favorable Petroleum Spreads /BBL Dubai ULG 95 GAS OIL 0.05% FUEL OIL 200 180 AVG. 116.1 10 106.4 0.04 106.3 1 107.5 0.7 108.2 7 100.8 5 106.3 0.5 106.8 2 104.5 160 Price. 140 120 100 80 60 40 20 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13…
  9. Q1 2014 RESULTS – Irpc – slide 9
    Sliding Lube Base Oil Spreads /TON FO 180 3.5%S 500SN 150BS Asphalt 1,800 1,600 1,400 1,200 1,000 800 600 400 200 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 0 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13…
  10. Q1 2014 RESULTS – Irpc – slide 10
    Rising Olefin Spreads /TON Naphtha Ethylene Propylene HDPE PP 1,700 1,500 1,300 1,100 900 700 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 500 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14…
  11. Q1 2014 RESULTS – Irpc – slide 11
    Mixed Performance of Aromatics Spreads /TON Naphtha Benzene Toluene Mixed Xylene 1,500 1,400 1,300 1,200 1,100 1,000 900 800 700 600 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 500 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12…
  12. Q1 2014 RESULTS – Irpc – slide 12
    Mixed Performance of Styrenics Spreads /TON Naphtha SM ABS PS 2,500 2,300 2,100 1,900 1,700 1,500 1,300 1,100 900 700 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 500 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13…
  13. Q1 2014 RESULTS – Irpc – slide 13
    Increased Domestic Crude Intake Crude Intake Crude intake dropped to 172 KBD or 1% due to a planned shutdown for 23 days between 183 189 179 174 172 181 Unit: KBD 18 March 2014 and 9 April 2014 3% 4% 5% 6% 11% 14% Domestic Crude…
  14. Q1 2014 RESULTS – Irpc – slide 14
    Focus on Domestic Market Sales Volume Structure 14.2 15.3 14.9 14.8 14.0 Unit: SalesMbbl Qty 17.1 17.7 17.6 17.8 16.7 Unit: Mbbl 16% 14% 16% 17% 16% Export Petrochem 35% 42% 42% 38% 35% Petroleum Domestic Petroleum 84%…
  15. Q1 2014 RESULTS – Irpc – slide 15
    GIM in 1Q14 Market GIM The Market GIM in 1Q14 was 85% 88% 83% 81% 80% 84% Utilization rate 7.8/bbl, compared to 6.5/bbl in 4Q13. 7.4 8.0 7.8 A rise in the Market GIM was due 0.8 6.5 7.0 Unit: /bbl 1.0 6.0 1.3 0.9 to better…
  16. Q1 2014 RESULTS – Irpc – slide 16
    Financial Highlight Quarter Change Unit: MB 1Q14 4Q13 1Q13 YoY QoQ Foriegn Exchange Rate 32.80 31.87 29.94 2.86 0.93 Net Sales 71,854 74,769 68,964 2,890 (2,915) Market GIM 3,970 3,302 3,642 328 668 Stock Gain/(Loss) net LCM (228) 73…
  17. Q1 2014 RESULTS – Irpc – slide 17
    1Q14 Debt Portfolio Debt Profile Debt Structure As of March 31, 2014 39,711 37,907 45,381 Unit: MB ST Net Debt = 45,381 MB Loan Bond 12% Debt (MB) (THB) 43,820 43,031 48,355 40% LT ST Loan 5,620 Loan 5,620 32% LT Loan 15,364…
  18. Q1 2014 RESULTS – Irpc – slide 18
    Agenda I. 1Q14 Highlights II. Operation & Financial Performance III. Industry Outlook IV. Delta & UHV Project Update V. Appendix 18
  19. Q1 2014 RESULTS – Irpc – slide 19
    Crude Oil and Petroleum Products Outlook Key Price Spread 2Q14 Driving Determinants Products (1Q14) (1Q14) Outlook Refinery (/bbl) (/bbl) Expect sideways Dubai price with downward pressured by peak refinery maintenance Dubai 104.5…
  20. Q1 2014 RESULTS – Irpc – slide 20
    Petrochemical Products Outlook Key Price Spread 2Q14 Driving Determinants Products (1Q14) (1Q14) Outlook Olefins (/T) (/T) Solid olefins/polyolefins spread with slight upward potential expected due to crackers Ethylene 1,441 507…
  21. Q1 2014 RESULTS – Irpc – slide 21
    Agenda I. 1Q14 Highlights II. Operation & Financial Performance III. Industry Outlook IV. Delta & UHV Project Update V. Appendix 21
  22. Q1 2014 RESULTS – Irpc – slide 22
    Delta Project: Benefit Realization Achieving EXCELLENCE across all 3 strategic pillars will ensure that IRPC will meet its vision by 2020 Benefit Operational Excellence (USD M) Value chain optimization Overall Plant Effectiveness…
  23. Q1 2014 RESULTS – Irpc – slide 23
    Phoenix Project: 2 UHV Project Description: Upgrading bottom refinery product to high value added for Petrochem feedstock Capacity Expansion: Increase propylene from 412 KTA to 732 KTA. Progress : 66.7%*, now Under construction, piling…
  24. Q1 2014 RESULTS – Irpc – slide 24
    24
  25. Q1 2014 RESULTS – Irpc – slide 25
    Agenda I. 1Q14 Highlights II. Operation & Financial Performance III. Industry Outlook IV. Delta & UHV Project Update V. Appendix 25
  26. Q1 2014 RESULTS – Irpc – slide 26
    Phoenix Initiatives & Roadmap Operational Efficiency Asset Utilization Product & Services Capacity&&Products Capacity Product Improvement Enhancement Improvement Expansion 1. Petrochem Operation & 9 . New Value Added for Port 3.…
  27. Q1 2014 RESULTS – Irpc – slide 27
    Additional Capacity in Phoenix Projects Project Total Capacity 2012 2013 2014 2015 Old/New Oct. Sep. PRP+ Propylene Propylene Propylene Propylene Growth (UHV) 312/732 KTA +100 KTA +320 KTA EBSM SM Sep. Upgrading for ABS +60…
  28. Q1 2014 RESULTS – Irpc – slide 28
    Phoenix by Business Unit Refinery & Lube Products 2011 2012 2013 2014 2015 2016 ADU CDU 215 KBD 215 KBD Lube Base +25 KTA Initiative 150BS 95 KTA 120 KTA 120 KTA 7 Asphalt +28 KTA TDAE 22 KTA 50 KTA 50 KTA Lube Group 1…
  29. Q1 2014 RESULTS – Irpc – slide 29
    Phoenix by Business Unit (Cont) Olefins Products 2011 2012 2013 2014 2015 2016 +73 KTA Initiative Ethylene 360 KTA 433 KTA 433 KTA 2 +100 KTA +320 KTA Propylene 312 KTA 412 KTA 732 KTA 732 KTA Butadiene 56 KTA 56 KTA Acetylene 4…
  30. Q1 2014 RESULTS – Irpc – slide 30
    Phoenix by Business Unit (Cont) Aromatics Products 2011 2012 2013 2014 2015 2016 Benzene 114 KTA 114 KTA Toluene 132 KTA 132 KTA Mixed Xylene 121 KTA 121 KTA Styrene Products 2011 2012 2013 2014 2015 2016 +60 KTA Initiative SM…
  31. Q1 2014 RESULTS – Irpc – slide 31
    Benefits of UHV Project Production Yield 100% 4% 2% 2% Ethylene 6% 19% 20% 5% Propylene 80% 21% 11% LPG 60% 35% 10% Naphtha 35% Gasoline 40% 38% Diesel/Jet 11% 20% 43% Lube Base 20% 10% 8% FO 0% Current Run +40 KBD…
  32. Q1 2014 RESULTS – Irpc – slide 32
    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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