Skip to main content Q2 2015 Results – Irpc Investor Presentation | Shale Experts
Loading...
Pm

Q2 2015 Results – Irpc

Irpc · Aug 19, 2015 · 40 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. Q2 2015 Results – Irpc – slide 1
    IRPC Public Company Limited 2Q/2015 Opportunity Day 19 August 2015 Refinery Petrochemical Port & Tank Asset Management
  2. Q2 2015 Results – Irpc – slide 2
    1 2Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 3
  3. Q2 2015 Results – Irpc – slide 3
    Highlight: 2Q/15 Performance Overview of Business 106.1 105.3 Dubai 1. In 2Q/15, average Dubai price rose to 61.3/bbl from 61.3 56.6 Unit: USD/BBL 51.9 51.9/bbl in 1Q/15, driven by the concern about the tight supply from Libya when…
  4. Q2 2015 Results – Irpc – slide 4
    Highlight: Delta Project DELTA Benefit Summary Unit: MUSD Operational Excellence Actual 2014 1H/15 New upgraded LP (best-in-class VCM/LP Upgrade, Production Planning and standards tools), enabling optimum Schedule Optimization…
  5. Q2 2015 Results – Irpc – slide 5
    Highlight: 2Q/15 Update Fire Incident Update VGOHT Unit: COD on April 12, 2015 Insurance Claim: Final Settlement (PD + BI) of THB 3,015 Million (USD 90 Million) Received THB 460 Million in 2Q/15, accumulated claim at THB 2,170…
  6. Q2 2015 Results – Irpc – slide 6
    1 2Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 7
  7. Q2 2015 Results – Irpc – slide 7
    Petroleum Performance Dubai Crude Price & Petroleum Product Spreads Global crude oil price was still volatile owing /bbl 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 to a tight supply: the attack of the Dubai (DB) 104.5 106.1 101.5 74.4 51.9…
  8. Q2 2015 Results – Irpc – slide 8
    Petroleum Group : Production Crude Intake 2Q/15, the crude intake was 192 KBD (89% 80% 84% 89% 80% 86% %Utilization utilization), higher than the rate in 1Q/15 as the 173 180 192 173 186 Crude Run (KBD) VGOHT unit started run on…
  9. Q2 2015 Results – Irpc – slide 9
    Petroleum Group : Sales & GRM Sales Volume & Revenue Unit : MB 47,357 29,867 35,675 95,011 65,541 Refined 2Q/15 : Petroleum sales volume increased by 6,356 6,391 5,314 12,746 11,706 Lube Base 4% and the average product prices…
  10. Q2 2015 Results – Irpc – slide 10
    Petrochemical Performance Olefins Product Price & Spreads HDPE spread against Naphtha increased due to the Naphtha crackers /Ton 1Q/14 2Q/14 3Q/14 4Q/14 1Q/15 2Q/15 maintenance shutdown and higher Naphtha (NP) 935 951 913 647 494 563…
  11. Q2 2015 Results – Irpc – slide 11
    Petrochemical Group : Production Olefins Aromatics &Styrenics In 2Q/15, the utilization rate of Olefins was 90%, increasing The utilization rate of Aromatics and Styrenics in 2Q/15 by 2% compared to 88% in 1Q/15 as the Ethylene unit…
  12. Q2 2015 Results – Irpc – slide 12
    Petrochemical Group : Sales & PTF Sales Volume and Revenue Sales Distribution Unit : MB 9,480 7,541 8,285 19,198 15,826 Olefins Aromatic & 7,632 5,355 5,466 14,851 10,800 Styrenics 690 704 Export Export Export Unit : KMT Olefins…
  13. Q2 2015 Results – Irpc – slide 13
    Gross Integrated Margin (GIM) Market GIM Accounting GIM /bbl Power & Utility Petrochem Petroleum /bbl Oil Hedging Stock G/(L) & LCM Market GIM 13.1 14.0 17.3 13.6 0.03 1.1 1.1 15.0 10.4 1.1 12.5 3.3 7.8 1.5 6.7 1.1 5.0 6.9 6.0…
  14. Q2 2015 Results – Irpc – slide 14
    Financial Highlight: 2Q/15 VS 1Q/15 Unit: MB 2,220 663 408 4,235 3,832 228 2,823 293 Net Profit Volume Margin Delta Net Stock Doubtful A/C Others Net Profit 1Q/15 Increase Increase gain(Loss ) reversed 2Q/15 LCM (TPI…
  15. Q2 2015 Results – Irpc – slide 15
    Financial Highlight: 1H/15 VS 1H/14 Unit: MB 2,830 1,704 460 8,067 5,969 652 3,544 778 522 Net Stock Net Profit Volume Margin Delta gain(Loss ) Claim frm. Doubtful A/C Others Net Profit 1H/14 Increase Increase LCM VGOHT…
  16. Q2 2015 Results – Irpc – slide 16
    Financial Highlight: Quarterly Results Quarter %Change Unit : MB Remark 2Q/15 2Q/14 1Q/15 YoY QoQ Net sales 55,526 71,658 49,941 (23)% 11% Net Sales YoY: 12% from volume, price 35% Market GIM 8,177 2,773 7,014 195% 17% QoQ: 3% from…
  17. Q2 2015 Results – Irpc – slide 17
    Financial Highlight: Half Year results 1H %Change Unit : MB Remark 2015 2014 YoY Net sales 105,467 143,512 (27)% Net Sales Sales volume 11%, product prices 38%…
  18. Q2 2015 Results – Irpc – slide 18
    Debt Portfolio Debt Profile Debt Structure As of Jun 30, 2015 Net Debt Unit : MB ST Debt 2% LT Debt Debt (MB) 40,758 54,568 51,663 31% ST Loan 888 Bond 56,902 (THB) LT Loan 16,601 60,000 56,532 177 53,175 52% Bond 4,752 (USD)…
  19. Q2 2015 Results – Irpc – slide 19
    1 2Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 20
  20. Q2 2015 Results – Irpc – slide 20
    Challenging Crude Oil Market: Volatile Crude Oil Price 21
  21. Q2 2015 Results – Irpc – slide 21
    Crude Oil will Face the Over Supply Situation Oil Demand Strong world oil demand growth by 1.6 mb/d YoY, almost twice the average growth rate achieved in the last four years in 1H/15. Undoubtedly, sharply lower oil price are…
  22. Q2 2015 Results – Irpc – slide 22
    Iranian oil will hit the market in 2016 Allows time for us: 90 days for the UN Security Council resolution to endorse JCPOA (the Joint Comprehensive Plan of Action) so called adoption day. 12 days (max) for President Obama to…
  23. Q2 2015 Results – Irpc – slide 23
    Oil rig count continuously declined US oil rig count: 29th straight week for declining, dropping from 1,871 to 628 in late June after reaching a peak in the week ended October 10, 2014. Continuing slow down from US shale boom by…
  24. Q2 2015 Results – Irpc – slide 24
    Short-Term Crude Oil and Petroleum Products Outlook 3Q/15 4Q/15 Key Price Spread vs. vs. Driving Determinants Products 2Q/15 2Q/15 2Q/15 3Q/15 Refinery (/bbl) (/bbl) Outlook Outlook Crude price is pressured by the lower seasoning…
  25. Q2 2015 Results – Irpc – slide 25
    Short-Term Petrochemical Products Outlook 3Q/15 4Q/15 Key Price Spread vs. vs. Driving Determinants Products 2Q/15 2Q/15 2Q/15 3Q/15 Olefins (/T) (/T) Outlook Outlook Overall spread is expected to be soft as Ethylene 1,386 823…
  26. Q2 2015 Results – Irpc – slide 26
    1 2Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 27
  27. Q2 2015 Results – Irpc – slide 27
    Delta Program Improve overall performance under the Delta Program Target Actual Unit: M.USD 2015 1H15 Operational Excellence 70.7 35.4 Commercial Excellence 26.4 31.6 Procurement & HR Excellence 20.9 5.5 Total 118 72.5…
  28. Q2 2015 Results – Irpc – slide 28
    High Value Added and Specialty Products Increase High Value Added and Specialty Products Volume Ratio 40%- 60% 38% Beyond 35% 2015 Polypropylene Compound 34% Green ABS 2014 33% 2013 HDPE-Pipe 31% 2012 Market with Blue Light…
  29. Q2 2015 Results – Irpc – slide 29
    UHV Project Upstream Project for Hygiene & Value-added Products (UHV): Upgrading low value product (Fuel Oil) to be high value-added product for petrochemical feedstock: Propylene 320 KTA and Heavy Aromatic Naphtha 250 KTA 100% 2%…
  30. Q2 2015 Results – Irpc – slide 30
    PPE & PPC Projects IRPC Petrochemical Business Analysis PP Expansion PP Inline Compound (PPE) (PPC) PP Existing PPE PP line 1 475 KTA 160 KTA 140 KTA PP Compound Random PP Frozen food packaging Pipe grade Lamination Hygiene…
  31. Q2 2015 Results – Irpc – slide 31
    IRPC Strategic Roadmap to 2020 2015: UHV Completion 2013 Crude Run 215 KBD 100% Crude Run 181 KBD Nelson Complexity Index 8.6 84% Nelson Complexity Index More stable portfolio of Revenue: 6.6 Petroleum/Petrochemical & Others 59% /…
  32. Q2 2015 Results – Irpc – slide 32
    Q & A Environment Social Education & Sports Labor & Human Rights Religion Public Health The future begins now creating shared value 33
  33. Q2 2015 Results – Irpc – slide 33
    1 2Q/15 Highlight 2 Operation & Financial Performance Agenda 3 Industry Outlook 4 Strengthening Core Business and Beyond 5 Appendix 35
  34. Q2 2015 Results – Irpc – slide 34
    Highly Integrated and Optimized Configuration Feed (Crude Oil / Condensate) Atmospheric Distillation Unit Power Plant (ADU) 1, 2 215 KBD Lube Base Electricity 108 MW/220 MW (CHPI) Lube Base Oil 320 KTA Steam 200 T/h/420 T/h (CHP I)…
  35. Q2 2015 Results – Irpc – slide 35
    Backup
  36. Q2 2015 Results – Irpc – slide 36
    Deferred Tax Assets Unit: MB Tax loss not yet Loss carry Deferred Tax Assets Booking recognized as Expiry year forward Deferred Tax Deferred Tax Tax loss Tax rate Assets Assets (1) 2017 10,210 6,115 20% 1,223 4,095 2019 7,985…
  37. Q2 2015 Results – Irpc – slide 37
    Gain from Reversing Doubtful Account December 2014 The Board of Directors approved a land purchasing from TPI Aromatics Plc. February 2015 IRPC and Official Receiver entered into a land purchasing agreement April 2015 IRPC…
  38. Q2 2015 Results – Irpc – slide 38
    Delta Program Improve overall performance under the Delta Program Operational Excellence New upgraded LP (best-in-class standards tools), enabling optimum crude selection Optimized processing operations unit 118.0 Optimized steam…
  39. Q2 2015 Results – Irpc – slide 39
    UHV and PPC&PPE Project 2016 onward 2017 onward PPC UHV Propylene Styrenics Polyethylene ADU Aromatics DCC Polypropylene Lube Base Olefins Others Refinery Petrochemical Upstream Project for Hygiene & Value-added Products…
  40. Q2 2015 Results – Irpc – slide 40
    IRPC FX Exposure Illustration 2015E: USD Exposure FX Natural Hedge Concept USD 843 Million FX Gain/(Loss) THB USD USD Margin Liability USD 651 Million Strong Loss Gain Weak Gain Loss Market GIM: CCS on 12.35 /BBL at 248 THB…

From the store

Browse maps, data & reports in the Shale Experts store