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20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited

PTT Public Company Limited · Sep 24, 2013 · 45 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. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 1
    20th CLSA Investors' Forum 2013 24-25 September 2013 Our Earth, Our Home, Our Future
  2. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 2
    Contents Overview Performance Outlook Overview Performance Outlook 1
  3. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 3
    Oil Balance Thailand: Jan - Jun 2013 Adequate refining capacity maintains the stability of supply Overview Performance Outlook Supply Production Sales Import (80%) Domestic Imported Refined Petroleum Products 77 KBD 953 KBD…
  4. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 4
    Natural Gas Balance: Jan Jun 2013 Main driver of the Thai economy Overview Performance Outlook Supply Production Sales Ethane/ Indigenous (79%) Propane/ 3,702 MMSCFD LPG/NGL Petrochemical Feedstock (15%) Chevron 995 MMSCFD…
  5. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 5
    PTT is Thailands Largest Energy Company Overview Performance Outlook PTT Public Limited Company (PTT) Robust revenue and Net Income growth since IPO (MMUSD) Largest company on Thai Stock exchange 93,128 Market cap US30bn1 or…
  6. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 6
    PTTs Strategic Importance to Thailand Overview Performance Outlook Ministry of Finance holds majority stake in PTT PTT ratings at Thai sovereign level Public 34% Thai Ministry Foreign 18% of Finance 51% Kingdom of Thai 16%…
  7. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 7
    Our Major Businesses & Activities Overview Performance Outlook Business Areas Company PTTs holding (%) Activities Upstream E&P PTTEP 65.29% Exploration and Production PTT PLC Intermediate Gas Pipeline 100% Sole…
  8. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 8
    PTT Aspiration Strategic direction and target to achieve Big-Long-Strong aspiration Overview Performance Outlook Thai Premier Multinational Energy Company Strong TOP Quartile ROIC Big Long Ranked Fortune 81th Listed in DJSI…
  9. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 9
    Net Income Performance: 1H/2012 vs 1H/2013 Overview Performance Outlook Unit : MMTHB 5% 48,384 46,103 Sales vol. increase 8% Petrochem Better spread margins 6,116 7,999 16,181 PTTEP Avg. selling price increase 3% Sales vol.…
  10. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 10
    Contents Overview Performance Outlook Overview Performance Outlook 9
  11. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 11
    Exploration & Production Performance : PTTEP (65.29%) Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Product Prices Net Income (100%) 8% 106.42 7% 103.74 Unit: MMUSD 95.14 99.36 Liquid (USD/BBL) 24%…
  12. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 12
    Exploration & Production Roadmap : PTTEP Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Production Target Reserves Unit: MMBOE 2012 by Geography 1,786 50% International 901 44% 50% Domestic 56%…
  13. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 13
    Gas Business Performance : Natural Gas Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume GSP - Reference Product Prices Unit: MMSCFD Unit : USD/Ton AVG. 1,539 4,695 1,473 1,437 1,506 PP…
  14. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 14
    Gas Business Performance Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Gas Business EBITDA NGV Sales Volume Unit: MMTHB Unit : Ton/Day 30% 1% 13% 30,943 8,429 8,513 8,485 21,641 29% Others (16%)…
  15. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 15
    Gas Business Roadmap Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Unit : MMSCFD 5% 7% NGV 7% 17% Industry 13% 19% GSP 21% Power 59% 57% - EGAT - IPP - SPP New PTTEP PTTEP LNG (Bongkot (M9)…
  16. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 16
    Oil Business Performance : PTT Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin 1/ Oil BU - EBITDA Unit : THB/Liter Unit : MMTHB 14% 9,604 12% 10% 35% 8,239 0.90 0.93 0.84 0.79…
  17. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 17
    Oil Business Development Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Moving Toward TAGNOC Moving Toward TAGNOC GREEN Technological Advance Friendly POP: Drive Awake : PBS biodegradable 100% popcorn…
  18. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 18
    International Trading Business Performance : PTT Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Trading BU - EBITDA* Unit :THB/Liter Unit : MMTHB 27% 14% 20% 26% 2,923 0.10 0.09…
  19. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 19
    International Trading Business: Roadmap Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others To be Premier Multinational Trading House Grow in alternative energy and commodities 18
  20. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 20
    Refining Business Performance Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others GRM/GIM Net Income (100%) Unit : USD/BBL Unit : MMTHB 108.2 111.2 104.5 Dubai 100.8 100% 100% 25% 46% A/C GIM 7.11 7,924…
  21. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 21
    Refinery Project Update Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others LABIX Linear Alkyl Benzene (LAB) Upgrade Benzene and Kerosene into LAB Capacity : 100 KTA LABIX was established on 11 Jul 13…
  22. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 22
    Petrochemical Business Performance Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Spread Margins Net Income (100%) Unit : USD/Ton Unit : MMTHB HDPE-Naphtha PX-Naphtha 30% 16,172 16% 35% 11% 16% HMC…
  23. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 23
    Petrochemical Project Update Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others New Geography China : Signed MoU with Sinochem group in July 13 ASEAN : Signed HoA with Pertamina in Apr 13 and to sign JV…
  24. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 24
    Other Businesses : Coal - SAR (94.58%) Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost Net Income (100%) Unit : USD/Ton Unit : MMUSD 95 66% 71% 21% 4% Selling price 38.4…
  25. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 25
    Other Businesses : Power -GPSC (30.10%) Overview Performance Outlook E&P Gas Oil & Trading Refining PetChem Others Moving Forward Net Income (100%) Unit : MW Unit : MMBaht 100% 87% 356 2,531** 496 Renewable 1,357* 117 2,035…
  26. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 26
    PTT Consolidated Performance: 1H/2013 Overview Performance Outlook Dubai (USD/BBL) 108.2 100.8 111.2 104.5 1H/2013 Others PTTEP 4% Unit : MMTHB 7% PTT - Gas 0.4% 17% 1,374,923 1,369,541 Revenue 4% 699,932 72% Revenue…
  27. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 27
    Statement of Financial Position : Solid and Secured Overview Performance Outlook Unit: MMTHB Increased assets : th 4 Onshore pipeline Offshore Compressor PTTEPs Assets Solar power plant Strong Financial Position 1.5% 12.3…
  28. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 28
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income Overview Performance Outlook 43.6% 40.4% 32.4%32.6% 29.8% 30.1% 30.3% 30.8% 33.0% 34.7% 34.9% 35.5% 29.5% Dividend…
  29. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 29
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 313bn (10bn) during 2013-2017 Overview Performance Outlook CAPEX Breakdown : 5 Years Unit: MMTHB By Business Unit Investment in Joint Venture and Its subsidiaries…
  30. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 30
    Contents Overview Performance Outlook Overview Performance Outlook 29
  31. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 31
    Economic Outlook : Challenges ahead 2H/2013 Overview Performance Outlook US Market is expected to recover : - US Jobs data are in a better direction : - Markets expect US FED to slowdown QE program in Mid-Sep1 EU market remains…
  32. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 32
    Market Outlook : Crude Oil Overview Performance Outlook Monthly Avg. Crude Oil WTI Brent Dubai Dubai Forecast (PTT Group PRISM) 122.5 Forecast 116.2 117.3 105.0 109.8 111.2 111.5 103.9 103.9 103.9 104.5 107.3 108.6 106.3 107.3…
  33. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 33
    Market Outlook : Henry Hub Natural Gas Price Overview Performance Outlook Henry Hub price in 2013 is expected approximately 3.8-4.3 USD/MMBTU US DOE approved LNG export to non-FTA Shale gas revolution countries Incoming winter…
  34. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 34
    Market Outlook : GRM Overview Performance Outlook Forecast 25.00 20.00 GO 15.00 Mogas 10.00 5.00 0.00 FO -5.00 -10.00 -15.00 Singapore GRM in 2H/2013 is estimated to be around 6-7 USD/BBL Summer Demand from ME and…
  35. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 35
    Market Outlook : Petrochemical Overview Performance Outlook Unit :USD/ton Olefins Aromatics 2H 2013 2H 2013 2,000 2,000 1,800 1,800 PP 1,600 1,600 PX 1,400 HDPE 1,400 1,200 1,200 BZ 1,000 1,000 800 Naphtha 800 Naphtha 600 600 400…
  36. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 36
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 4.77 % : Cost of debts 4.55 % : % fixed-rate 91 % : % fixed-rate 86…
  37. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 37
    Statements of Consolidated Cash Flows for 1H 2013 & 2012 1H/2012 1H/2013 1H/2012 1H/2013 Operating 34,736 62,532 Investing -59,895 -47,845 Net Income 46,103 48,384 CAPEX(PP&E, Intangible asset) -58,248 -59,568 Changes in assets &…
  38. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 38
    Statements of Cash Flows for Year 1H 2013 & 2012 (PTT Only) 1H/2012 1H/2013 1H/2012 1H/2013 Operating 20,382 9,200 Investing -992 11,570 Net Income 47,225 37,515 CAPEX (PP&E, Intangible asset) -10,263 -9,795 Changes in assets &…
  39. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 39
    PTT Group Performance : Q2/2013 QoQ Performance 100% % share Equity Method % PTT Unit : MMTHB Q1/13 Q2/13 QoQ Q1/13 Q2/13 YoY PTT Net operating Income 12,033 4,213 -65% 12,033 4,213 -65% E&P - PTTEP 20,258 10,664 -47% 65.29% 12,602…
  40. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 40
    Data as of 30 June 2013 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production Plc.…
  41. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 41
    Natural Gas Price Structure : Jan Jun 2013 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…
  42. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 42
    Natural Gas : Strong and Increasing Demand over Long Term Natural gas is a fuel of choice for power producers and transportation industry Gas demand forecast (CAGR during 2013-2030) : Total 2% : Power 3% : GSP -1% : Industry 3%…
  43. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 43
    Thailands Projected Energy Demand Commercial Primary Energy Consumption KBD 4000 3,674 3,261 Nuclear 1% 3% 3500 2,826 3% 13% 3000 13% 2,376 2% 17% 2500 Hydro/Import13% 16% 1,863 2%Renewable 12% 15% 2000 Coal/Lignite…
  44. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 44
    2012-2013 Accolades PTT is widely recognized among business communities both international and local 144th in 2013 DJSI Member 81th in 2013 167th in 2012 2012-2013 95th in 2012 171th in 2011 128th in 2011 Platts Top 250 Asian…
  45. 20TH CLSA INVESTORS FORUM VENUE – PTT Public Company Limited – slide 45
    Gas Business Generates Stable Returns Highlights Gas transmission pipeline Sole owner and operator of entire gas transmission pipelines in Thailand (3,635 km), a regulated business Phu Hom Supply & marketing of natural…

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