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Opportunity Day Q2 2015 – Bangchak Petroleum Plc

Bangchak Petroleum Plc · Aug 10, 2015 · 45 slides

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Slides

  1. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 1
    The Bangchak Petroleum PLC Opportunity Day 2Q2015 August 10, 2015
  2. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 2
    AGENDA 1 Quarterly Highlights 2 Financial Performance Update 3 Moving Forward 2
  3. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 3
    AGENDA 1 Quarterly Highlights 2 Financial Performance Update 3 Moving Forward 3
  4. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 4
    Quarterly Summary : EBITDA Quarterly Performance by business unit (Unit: THB Million) Half Year Performance by business unit (Unit: THB Million) 7,496 +50% YoY 5,164 +115% YoY 342 +121% QoQ 314 179 99 4,989 1,449 735 E&P - 657…
  5. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 5
    Quarterly Summary : EBITDA Q2/15 Performance by business unit (Unit:%) Target EBITDA Accounting EBITDA EBITDA exclude Inventory Gain/Loss 299% 259% 174% 174% 100% 100% 109% 108% 108% 108% 100% 104% 117% 100% 100%…
  6. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 6
    Historical high crude run : Zero Unplanned Shutdown Average Crude Run (KBD) Historical High 108.63 111.93 96.99 102.48 48.45 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Above 100 KBD for 8 months Peak 125 KBD for 1 week 1H/15 AVG =…
  7. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 7
    Refinery Performance : Better yield from zero unplanned shutdown Crude Sourcing Product Yield Crude run 48.45 108.63 111.93 LPG Unit: KBD 3% 3% 2% 18% 20% 20% Gasoline 8% 11% Jet 11% 52% 58% 48% 50% 54% Diesel Import Crude…
  8. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 8
    Market GRM continued to be strong Accounting GRM (/BBL) Factors affecting GRM Accounting 7.61 4.26 11.90 GRM DTD/DB (/BBL) 1.34 4 0.14 3 2 2.15 0.58 10.41 1 10.19 0 4.89 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 (0.42) Market GRM…
  9. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 9
    BCP Trading Channels : Retail customer is our priority Total Sales Volume (Unit: Million Litre) Portion Sold Q2/14 Q1/15 Q2/15 YoY QoQ Marketing Business Retail Customer 780 782 849 +9% +9% 47% 57% 44% 47% Industrial…
  10. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 10
    Marketing Performance : Total sales volume continues to increase Marketing Sales Volume (Million Litre) Net MKM Contribution Performance (THB/Litre) +16% YoY +4% QoQ 1,344 1,404 1,210 1.04 555 +29% YoY 0.95 562 40% -1% QoQ 431…
  11. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 11
    Marketing Performance : Maintain 2nd rank market share Retail Market Share Thruput per station (K.litre/Station/Month) 550 6.8% 1.4% 500 Major oil excluding BCP 1.4% 0.2% 450 5.4% 400 6.0% 37.4% 350 12.8% BCP Standard…
  12. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 12
    MWPPA 58 Q2/14 118 62 Target 72 Performance Review 118 Q1/15 65 lower than usual rain falls. Electricity Sales (Million kWh) Actual 62 118 Q2/15 68 Higher electricity generation…
  13. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 13
    Biofuel : demand increase from policy change Daily Production and Sales Volume (K. Litre per day) B100 Mixing portion mandate B3.5 = 15 Days B3.5 = 44 Days B3.5 = 69 Days 582 432 405 352 355 371 Q2/14 Q1/15 Q2/15…
  14. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 14
    E&P : Increased net production (from additional working interest in Galoc Field) Performance Review Nidos net production increased to 55.88% net working interest in Galoc field Production uptime for Galoc Field was 99.8% Cost…
  15. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 15
    AGENDA 1 Quarterly Highlights 2 Financial Performance Update 3 Moving Forward 15
  16. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 16
    1H/15 Highlights NIDO acquired Galoc Production Company WLL (GPC), increased interest in Galoc oil field from 22.88% to 55.88% NIDO changed in functional & reporting currency from AUD to USD with effect from 1 April 2015 PTT…
  17. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 17
    Key Financial Performance - Consolidated Sales Revenue Unit: THB Million 90,433 Q2/15 Highlights 80,802 40,776 39,445 41,357 Average crude run for Q2/15 was 111.93 KBD, +1% YoY +5% QoQ historical high crude run Q2/14 Q1/15 Q2/15…
  18. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 18
    Key Financial Position - Consolidated Unit: THB Million Assets Liabilities & Equity 82,530 82,530 76,966 76,966 9,854 9,663 Current Liabilities Cash and Equivalents 7,954 9,997 Current Assets 10,282 12,266 33,170 Long Term Debt…
  19. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 19
    Consolidated Cash Flow Unit: THB Million 2Q/15 Profit for the period 3,865 Depreciation and amortization 2,284 Corporate tax and others 467 Change in working capital 3,048 Net cash from operating activities 9,664 Mainly from: Net…
  20. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 20
    Key Financial Ratio - Consolidated Current Ratio (Times) Net IBD/E Ratio (Times) 0.64 0.67 3.32 0.59 0.55 2.62 2.48 2.86 2.88 0.50 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Quick Ratio (Times)…
  21. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 21
    AGENDA 1 Quarterly Highlights 2 Financial Performance Update 3 Moving Forward 21
  22. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 22
    Overall performance improved from strong operation Refinery EBITDA (THB Million) + High crude run rate in favor of market condition generate substantial earnings Half year performance was impressive + 13% Lower cost of operation…
  23. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 23
    Investment Update Lithium Mine Biodiesel Plant 2 Renewable Inthanin Garden E&P Improvement 3E YES-R Refinery Lemon Kitchen Marketing 23
  24. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 24
    Refinery Upgrade Programs : On progress 3E: New CDU Progress New Co-Gen Replacing new CDU (100 KBD) Efficiency Debottlenecking EIA Approved BOI Approved (Import duty) Energy New CCR Unit EPC contractor bidding process Environment…
  25. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 25
    Oil Business: Marketing Plan 40 2015 Target 1H Actual 11 New Service Service Stations Stations + 5 Flagships + 35 Standard + 11 Standard 25
  26. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 26
    Marketing Business : New Non-oil concepts Concept - Pure Organic Arabica 100% - 100% Bio Degradable Cups - More Bakery: Chocco - New Menu: Fruit Drinks, Yogurt Twist 5 Prototype Stores in FY2015 3 Opened Stores in…
  27. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 27
    Marketing Business : New Non-oil concepts Concept What is it - Fast casual dining Concept - Fast, Fresh, Finesse design, Fusion 6 Prototype Stores in FY2015 1 Opened Stores in 1H2015 27
  28. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 28
    Capitalized on opportunities : Biodiesel Business An investment for greater certainty of Biodiesel supply and supporting demand growth Progress 46% as of July Biodiesel Expansion: Bangchak Biofuel (BBF) Expansion Capacity:…
  29. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 29
    Nido Update Asset Locations : South East Asian focused Additional Development Galoc Field The independent assessment estimates the mid- Galoc area of the field as at 30 June 2015 contains Contingent Resources 1C = 6.2 mmstb…
  30. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 30
    Crude Oil Price Outlook: Market rebalancing and price recovery will be limited ISIS sudden /BBL Russia Ukraine attack in Iraq crisis 120 115 Expected 2015 110 Dubai Avg. 57 /BBL 105 100 95 90 Lower oil 85 inventories / 80 Oil…
  31. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 31
    Products: High refinery run rate / New refineries come online Key Product Factors Gasoline 95 - DB (Unit: /BBL) 2H15 Summer and Muslim Ramadan demand (Q3) 20 19.8 Pick up demand following oil price dropped 16.1 16.5 16.3 14.6 15.4…
  32. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 32
    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)
  33. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 33
    Profit and Loss (Consolidated) Unit: THB Million Q2/14 Q1/15 Q2/15 YoY QoQ Sales Revenue 40,776 39,445 41,357 1% 5% Cost of Goods Sold (38,895) (37,082) (36,390) -6% -2% EBITDA 2,400 2,333 5,164 115% 121% Depreciation and Amortization…
  34. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 34
    Profit and Loss (Consolidated) Unit: THB Million 1H/14 1H/15 Sales Revenue 90,433 80,802 Cost of Goods Sold (85,930) (73,471) EBITDA 4,989 7,496 Depreciation and Amortization (1,325) (2,284) Gain (loss) on foreign exchange 307…
  35. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 35
    Profit and Loss (Company) Unit: THB Million Q2/14 Q1/15 Q2/15 YoY QoQ Sales Revenue 39,663 37,889 39,397 -1% 4% Cost of Goods Sold (38,440) (36,254) (35,273) -8% -3% EBITDA 2,515 2,128 5,104 103% 140% Depreciation and Amortization…
  36. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 36
    Profit and Loss (Company) Unit: THB Million 1H/14 1H/15 Sales Revenue 88,327 77,286 Cost of Goods Sold (84,983) (71,526) EBITDA 4,721 7,232 Depreciation and Amortization (1,180) (1,673) Gain (loss) on foreign exchange 307 78 Net…
  37. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 37
    Financial Ratio (Consolidated) Q2/14 Q1/15 Q2/15 1H/14 1H/15 Profitability Ratios (%) EBITDA Margin 5.88% 5.91% 12.49% 5.52% 9.28% Profit Margin 3.11% 2.68% 6.79% 3.15% 4.78% Return on Assets (ROA) 8.87% 1.39% 3.72% Return on…
  38. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 38
    Financial Performance: Refinery BU (Company) Q2/14 Q1/15 Q2/15 THB Million /BBL THB Million /BBL THB Million /BBL Market GRM 703 4.89 3,267 10.19 3,544 10.41 GRM Hedging 83 0.58 (136) (0.42) 47 0.14 Inventory Gain/Loss 309 2.15…
  39. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 39
    Financial Performance: Refinery BU (Company) 1H/14 1H/15 THB Million /BBL THB Million /BBL Market GRM 2,553 5.91 6,811 10.31 GRM Hedging 174 0.40 (89) (0.13) Inventory Gain/Loss 354 0.82 (1,309) (1.98) Total GRM 3,081 7.13 5,413…
  40. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 40
    Financial Performance: Marketing BU (Company) Q2/14 Q1/15 Q2/15 THB Million Baht/L THB Million Baht/L THB Million Baht/L Net Retail Margin 813 1.04 739 0.95 737 0.87 Net Industrial Margin 150 0.35 272 0.48 238 0.43 Net Marketing…
  41. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 41
    Financial Performance: Marketing BU (Company) 1H/14 1H/15 THB Million Baht/L THB Million Baht/L Net Retail Margin 1,491 1.00 1,476 0.90 Net Industrial Margin 306 0.32 510 0.46 Net Marketing Margin 1,797 0.73 1,986 0.72 Other…
  42. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 42
    Financial Performance: Solar Business Unit: THB Million Q2/14 Q1/15 Q2/15 YoY% QoQ% Revenue 712 752 775 9% 3% Gross Profit 563 593 615 9% 4% Other Income/(Other Expense) 9 6 8 -7% 49% Operating Expense (5) (5) (9) 86% 91% EBITDA…
  43. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 43
    Financial Performance: Solar Business Unit: THB Million 1H/14 2H/15 Revenue 1,169 1,527 Gross Profit 922 1,208 Other Income/(Other Expense) 19 14 Operating Expense (11) (14) EBITDA 1,123 1,449 Electricity Sales (MM kWh)…
  44. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 44
    Financial Performance: Biodiesel BU (BBF) Unit: THB Million Q2/14 Q1/15 Q2/15 YoY% QoQ% Revenue 1,116 1,235 1,430 28% 16% Gross Profit 41 73 78 91% 8% Other Income/(Other Expense) (0.19) (9) 16 -8408% 276% Operating Expense…
  45. Opportunity Day Q2 2015 – Bangchak Petroleum Plc – slide 45
    Financial Performance: Biodiesel BU (BBF) Unit: THB Million 1H/14 1H/15 Revenue 2,539 2,665 Gross Profit 135 151 Other Income/(Other Expense) 0.04 7 Operating Expense (17) (19) EBITDA 146 169 Average Production Rate…

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