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Analyst Meeting 2015 – PTT Public Company Limited

PTT Public Company Limited · Nov 17, 2015 · 43 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. Analyst Meeting 2015 – PTT Public Company Limited – slide 1
    Pride & Treasure of Thailand Analyst Meeting Q3/2015 PTT Auditorium 17 November 2015
  2. Analyst Meeting 2015 – PTT Public Company Limited – slide 2
    Pride & Treasure of Thailand 1
  3. Analyst Meeting 2015 – PTT Public Company Limited – slide 3
    Pride & Treasure of Thailand PTT Group joined Anti-Corruption day 2015 on 6 September 2015, held by Anti- corruption organization of Thailand under the theme Active Citizen 2 2
  4. Analyst Meeting 2015 – PTT Public Company Limited – slide 4
    Safety and Sustainability: PTT has implemented several safety programs that really improve the safety performance Aspiration = Zero Accident People and Culture Injury Rate (Injuries/Million hrs) 4 3 2 Policy and Standard 1…
  5. Analyst Meeting 2015 – PTT Public Company Limited – slide 5
    Rewards & Recognition PTT received 3 Certificate awards in the ceremony PTT received Corporate Governance award for the Year 2015 for 7 consecutive years PTT received 3 Certificates from the Ministry of Natural PTT was ranked…
  6. Analyst Meeting 2015 – PTT Public Company Limited – slide 6
    Rewards & Recognition PTT remains a Member, for the 4th consecutive year PTT received 2 Sustainability Awards for the Year within the Oil and Gas Industry 2015 from the Stock Exchange of Thailand (SET) - Dow Jones Sustainability World…
  7. Analyst Meeting 2015 – PTT Public Company Limited – slide 7
    Contents Overview Performance Key takeaways Overview Performance Key takeaways 6
  8. Analyst Meeting 2015 – PTT Public Company Limited – slide 8
    Highlights : 9M/15 Overview Performance Key takeaways NGV price increase 0.50 THB/Kg to PTTEP impairment Key Events Update 13.50 THB/Kg (on September 8, PTTGE impairment on KPI assets (Q3) 2015) SPRCs timeline of IPO still on…
  9. Analyst Meeting 2015 – PTT Public Company Limited – slide 9
    Key Business Drivers: Overview Performance Key takeaways Dubai vs FO (/BBL) NG Prices (/MMBTU) LNG (JLC) (/MMBTU) JKM Spot Avg. NG (/MMBTU) 120 Avg. 105.3 Dubai Avg. 87.9 25 Spot Avg. 17.5 20 LNG FO Avg. 97.9 Avg. 61.3 Avg.…
  10. Analyst Meeting 2015 – PTT Public Company Limited – slide 10
    9M/15 Performance: PTT Group: still strong core operations despite impairment Overview Performance Key takeaways Others MMTHB Higher performance mainly from PTTLNG, 84,485 PTTT, and divestment of BCP 34,867 2,902 Petrochem Others…
  11. Analyst Meeting 2015 – PTT Public Company Limited – slide 11
    Contents Overview Performance Key takeaways Overview Performance Key takeaways 10
  12. Analyst Meeting 2015 – PTT Public Company Limited – slide 12
    E&P : Net loss in Q3 from settling once and for all the overhanging issue of impairment Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others Product Prices Sales Volume 101.93 KBOED 2% QoQ 5% YoY 48% 326…
  13. Analyst Meeting 2015 – PTT Public Company Limited – slide 13
    E&P : PTTEP Net Income breakdown 9M/2015 Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others MMUSD 1600 Net income 9M/2015 Details of Project Montara project Mariana Oil sand 1200 Natuna Sea A…
  14. Analyst Meeting 2015 – PTT Public Company Limited – slide 14
    PTT EBITDA Performance Breakdown by BUs: Overview Performance Key takeaways (Unit:MMTHB) Business Unit Q2/15 Q3/15 QoQ 9M/14 9M/15 YoY Gas- EBITDA 14,348 9,033 (37%) 45,120 32,643 (28%) S&M 3,145 1,260 (60%) 17,155 6,881 (60%)…
  15. Analyst Meeting 2015 – PTT Public Company Limited – slide 15
    Gas BU: NG volume slightly lower from EGAT/ Industry sector/ NGV Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume* NG Customer Breakdown MMSCFD MMSCFD AVG. 1% QoQ 4% YoY 4,832…
  16. Analyst Meeting 2015 – PTT Public Company Limited – slide 16
    Gas BU : Lower margin and one-time compensation pressured performance Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others GSP Feed Cost vs Petroleum price GSP Sales Volume USD/Ton 1% YoY 876 9M/14…
  17. Analyst Meeting 2015 – PTT Public Company Limited – slide 17
    Gas Business Roadmap Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others Demand & Supply Key Progress LNG Terminal Phase 2 Construction completed 66.21%, consisting of Jetty and LNG tank 4th…
  18. Analyst Meeting 2015 – PTT Public Company Limited – slide 18
    Oil BU : Fallen oil price, hence stock loss weighed on performance Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others Petroleum Prices Sales Volume2/ (Average Prices) MM Liter USD/BBL 1% QoQ 2% YoY…
  19. Analyst Meeting 2015 – PTT Public Company Limited – slide 19
    Oil BU : Overseas expansion continues Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others PTT Lubricants and IRPC entered Industrial Lubricants market in New Zealand Export to over 30 countries 1st…
  20. Analyst Meeting 2015 – PTT Public Company Limited – slide 20
    Trading BU : Margin continued to be squeezed from sustained low oil price Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Sales Volume 104.18 MM Liter 4% QoQ 5% YoY 21% QoQ…
  21. Analyst Meeting 2015 – PTT Public Company Limited – slide 21
    Trading BU : Contract with Petro-Ecuador - Growth Strategy Unlocked GROWTH STRATEGY Step out into new markets for global coverage GLOBAL TREND US Shale Renaissance changes Latin America crude trade flow STRATEGY UNLOCKED…
  22. Analyst Meeting 2015 – PTT Public Company Limited – slide 22
    Refining BU: Stock losses dented Q3 performance Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others GRM/GIM* Aromatics 104.0 Aromatics Production 61.3 49.7 54.3 Dubai 91% A/C GIM 80% 84% 79% QoQ:…
  23. Analyst Meeting 2015 – PTT Public Company Limited – slide 23
    Refineries : Projects Updates Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others Ongoing Projects: LABIX : 99% progress COD: 1Q16 SPPs : 97% progress COD: 2Q16 (2 SPPs: Total power capacity 239…
  24. Analyst Meeting 2015 – PTT Public Company Limited – slide 24
    Petrochemical BU: Lower performance from stock loss and pressured petrochemical prices Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others Refineries Aromatics 100% 101% 102% 101% CDU BTX 85% 57% 84%…
  25. Analyst Meeting 2015 – PTT Public Company Limited – slide 25
    Petrochemical : Strategic Plans : Major Projects Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others 24
  26. Analyst Meeting 2015 – PTT Public Company Limited – slide 26
    Other Businesses : Coal - SAR (95.26%) Additional cost reductions relieved the effect of price decline Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost Sales Volume…
  27. Analyst Meeting 2015 – PTT Public Company Limited – slide 27
    Other Businesses : Power - GPSC (22.58%) Better performance supported by dividend income from affiliate Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others Sales Volume Net Income (100%) YoY GWh Power…
  28. Analyst Meeting 2015 – PTT Public Company Limited – slide 28
    Other Businesses : Power GPSC (22.58%) CUP-4 Project (Growth alongside PTT Group) Overview Performance Key takeaways E&P Gas Oil & Trading Refining PetChem Others CUP-4 Phase 1 Name: Central Utility Plant Project 4 (CUP-4) Type:…
  29. Analyst Meeting 2015 – PTT Public Company Limited – slide 29
    PTT Consolidated Performance: 9M/2015 Overview Performance Key takeaways 19% 48% Dubai 104.0 54.3 61.3 49.7 (USD/BBL) 9M/14 9M/15 Others Unit : MMTHB 24% 2,039,086 0% Refining 1% 16% 16% 1,557,327 6% PetChem Revenue 12% 13%…
  30. Analyst Meeting 2015 – PTT Public Company Limited – slide 30
    PTT Group Performance : 9M/2015 (YoY) Overview Performance Key takeaways Performance 100% % share Equity Method % PTT Unit : MMTHB 9M/2014 9M/2014 9M/2015 YoY 9M/2015 YoY (Restated) (Restated) PTT Net operating Income 37,119…
  31. Analyst Meeting 2015 – PTT Public Company Limited – slide 31
    Statement of Financial Position Overview Performance Key takeaways MMTHB Assets slightly declined : Drop in trade A/R primarily from international 1% trading and oil business Drop in inventory mainly from legal reserve volume…
  32. Analyst Meeting 2015 – PTT Public Company Limited – slide 32
    Statements of Consolidated Cash Flows : 9M/2015 Overview Performance Key takeaways 9M/14 9M/15 9M/14 9M/15 Operating 204,595 203,982 Investing (130,855) (158,930) Net Income 84,485 19,748 CAPEX (PP&E, Intangible asset) (126,123)…
  33. Analyst Meeting 2015 – PTT Public Company Limited – slide 33
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 299 bn* (9bn) during 2015-2019 Overview Performance Key takeaways CAPEX Breakdown : 5 Years CAPEX revision Y2015: By Business Unit CAPEX lower by THB 22 bn from…
  34. Analyst Meeting 2015 – PTT Public Company Limited – slide 34
    Contents Overview Performance Key takeaways Overview Performance Key takeaways 33
  35. Analyst Meeting 2015 – PTT Public Company Limited – slide 35
    Key Takeaways Overview Performance Key takeaways 9M/2015 Looking Forward Released overhang issues of impairment Moderate growth in most economies Oil price remains low Dubai 50-60 /bbl Gas feed cost gradually lower Refinery…
  36. Analyst Meeting 2015 – PTT Public Company Limited – slide 36
    Statements of Cash Flows (PTT Only) : 9M/2015 9M/14 9M/15 9M/14 9M/15 Operating 46,267 48,094 Investing 13,420 1,346 Net Income 49,963 43,355 CAPEX (PP&E, Intangible asset) (21,639) (27,881) Changes in assets & liabilities (9,247)…
  37. Analyst Meeting 2015 – PTT Public Company Limited – slide 37
    PTT Group Performance : Q3/2015 (QoQ) Performance 100% % share Equity Method % PTT Unit : MMTHB Q2/15 Q3/15 QoQ Q2/15 Q3/15 QoQ PTT Net operating Income 9,019 3,584 -60% 9,019 3,584 -60% E&P - PTTEP 1,312 -46,212 -3622% 65.29% 866…
  38. Analyst Meeting 2015 – PTT Public Company Limited – slide 38
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 4.62% : Cost of debts 4.44% : % fixed-rate 75% : % fixed-rate 70% :…
  39. Analyst Meeting 2015 – PTT Public Company Limited – slide 39
    Data as of 30 September 2015 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production…
  40. Analyst Meeting 2015 – PTT Public Company Limited – slide 40
    Natural Gas Price Structure : Jan-Sep 2015 Gas prices are mostly agreed under long-term contracts and volatility pass-through to ensure stable returns. Sales Price Structure Customers Gas Pool Price + Supply Margins + Pipeline…
  41. Analyst Meeting 2015 – PTT Public Company Limited – slide 41
    Natural Gas : Increasing natural gas in power demand over long term by replacing Coal, EE and AE Gas demand forecast (CAGR during 2015-2030) : Total 1% : Power 2% : GSP -3% : Industry 2% : NGV -1% Source : PTT 41
  42. Analyst Meeting 2015 – PTT Public Company Limited – slide 42
    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%…
  43. Analyst Meeting 2015 – PTT Public Company Limited – slide 43
    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 Sin Phu Hom 12.5% -…

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