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FY 2016 Analyst Meeting – PTT Public Company Limited

PTT Public Company Limited · Feb 22, 2017 · 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. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 1
    Analyst Meeting FY 2016 PTT Auditorium 22 Feb 2017
  2. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 2
    Safety and Sustainability: 2016 Performance People and Culture Aspiration = Zero Accident Total Recorable Injury Rate (Injuries/Million hrs) 4 3 Policy and Standard 2 0.95 1 0.25 0 2009 2010 2011 2012 2013 2014 2015…
  3. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 3
    Rewards & Recognition Domestics International Enterprises of the Year 2016 (MOF) CEO of the year/ Corporate Excellence Awards Thailands Most Admired Brand 2016/Thai Brand Most Organized Investor Relations/ Most Consistent (BrandAge)…
  4. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 4
    Contents Overview Performance Outlook 2016 Year in Review Q4 & FY16 Performance Outlook 2017 3
  5. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 5
    2016 Year in Review: Global Economy & Energy Sector Overview Performance Outlook Dubai Price Dubai price (2016 VS 2015) / BBL 70 Global economic maintained growth Aug: An 2015 attempt to momentum (IMF Oct: OPEC/Non-OPEC Avg…
  6. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 6
    2016 Year in Review: Thailand Overview Performance Outlook SET Index 2016 1900 Thailand GDP Y2016 growth Thai New Constitution 3.2% (better than 1800 US Election, Politics Approved in previous year) Trump victory Referendum (9…
  7. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 7
    2016 Highlights: Overview Performance Outlook Key Events GSP No major T/A with U-rate 100% Update (Q4) Oil BOD approved the restructuring of PTT oil BU Trading Set up Trading London office LNG Terminal 2 of 7.5 MTA approved LNG…
  8. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 8
    Group Productivity Improvement 2016 Baht 15.6 -17.4 Bn Overview Performance Outlook Program Procurement Synergy cost -300 MB GSP Debottleneck cost -547 MB GTM Strategic Sourcing Management cost -637 MB SAVE to be SAFE & SPEND…
  9. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 9
    Key Business Drivers: Oil price started to pick up while NG continued to fall Overview Performance Outlook Dubai vs FO (/BBL) NG Prices (/MMBTU) 2015 2016 2015 2016 Dubai 50.9 41.3 -19% JLC* 10.3 6.9 -33% JLC* FO 47.4 37.1 -22%…
  10. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 10
    FY2016 Performance: Improved performance in most PTT Group Businesses Overview Performance Outlook Others Affi MMTHB PTTER : Improved coal performance Petrochem & Refining 94,609 Aromatics improved from spreads margin and…
  11. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 11
    Contents Overview Performance Outlook 2016 Overview Q4 & FY16 Performance Outlook 2017 10
  12. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 12
    E&P : Improved NI by successful cost reduction effort Overview Performance Outlook E&P Gas Oil & Trading P&R Others Product Prices Sales Volume KBOED 2% QoQ 1% YoY 8% QoQ Liquid 46.80 50.05 18% YoY 322 (/BBL) 43.15 41.17 311…
  13. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 13
    E&P Strategy: Overview Performance Outlook Financial Outlook Growth Opportunities Exploration Portfolio LNG Value Chain Q117 FY2017 Known area Corporation with PTT in Avg. Sales Vol. 310 312 Acceptable risk LNG opportunities…
  14. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 14
    PTT EBITDA Breakdown by BUs: Overview Performance Outlook (Unit:MMTHB) Business Unit Q3/16 Q4/16 QoQ 2015 2016 YoY Gas- EBITDA 20,072 20,472 2% 47,832 72,082 51% S&M 3,458 2,277 (34%) 9,286 9,128 (2%) TM 8,154 7,717 (5%) 25,096…
  15. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 15
    Gas BU: Pooled gas cost continued to fall, though NG volume slightly declined Overview Performance Outlook E&P Gas Oil & Trading P&R Others NG Price VS FO NG Customer Breakdown /MMBTU /Ton MMSCFD 2% QoQ 1% YoY 15 %QoQ %YoY 700…
  16. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 16
    Gas BU: Performance improved from almost segments Overview Performance Outlook E&P Gas Oil & Trading P&R Others GSP Feed Cost vs Petchem price GSP Sales Volume USD/Ton %QoQ %YoY kTon 1% YoY HDPE -0.4% -8% 6,423 6,455 1,604 26 25…
  17. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 17
    Gas Business Roadmap Overview Performance Outlook E&P Gas Oil & Trading P&R Others NG Country Demand LNG Projects LNG Terminal 1 Phase 2 : - Construction completed 99.03% - COD : 2H2017 New LNG projects : 1) LNG Terminal 1…
  18. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 18
    Oil BU : Better overall performance mainly from stock gain Overview Performance Outlook E&P Gas Oil & Trading P&R Others Petroleum Prices Gross margin1/Sales volume2 THB/Liter 26% QoQ 0.98 20% YoY 0.96 (Average Prices) 0.78…
  19. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 19
    Trading BU: Performance improved from better domestic condensate margin Overview Performance Outlook E&P Gas Oil & Trading P&R Others Gross Margin* Sales Volume Gross Margin MM Liter (THB/Liter) 8% YoY 50% QoQ 33% YoY 0.10 81,367…
  20. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 20
    TRADING BU & PTTT: KEY ACHIEVEMENTS in Q4 2016 Overview Performance Outlook E&P Gas Oil & Trading P&R Others A BIG STEP TOWARDS WESTERN CORRIDOR 1st Term Supply Petroleum Products to LATAM Awarded 1 year term (2017) tender…
  21. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 21
    P&R BU : Improve performance from stock gain and Aromatics margins Overview Performance Outlook E&P Gas Oil & Trading P&R Others Aromatics Olefins BTX 82% QoQ YoY QoQ YoY 75% 82% Olefins 74% 100% U-Rate 94% U-Rate 93% USD/Ton…
  22. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 22
    P&R : Key Achievement and project update Overview Performance Outlook E&P Gas Oil & Trading P&R Others Linear Alkyl Benzene (LAB) Orchestra Successfully COD on 25 Feb 2016 Cost Management TOP SPP (2blocks of SPP) Transcendence…
  23. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 23
    Other Businesses : Coal - SAR Better performance from lower impairment, depreciation and cost, despite lower coal price Overview Performance Outlook E&P Gas Oil & Trading P&R Others Avg. Selling Price* & Cash cost* Sales Volume…
  24. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 24
    Other Businesses : Power - GPSC Outstanding performance supported by dividend income from its affiliates Overview Performance Outlook E&P Gas Oil & Trading P&R Others Sales Volume Net Income (100%) GWh QoQ YoY MMBaht 000 Ton 42%…
  25. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 25
    Other Businesses : Power GPSC Overview Performance Outlook E&P Gas Oil & Trading P&R Others Project Highlight: 4 Projects to COD in 2017 Project Type Capacity SCOD Construction Progress as of Q4/16 CHPP Solar Cooperatives (VSPP)…
  26. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 26
    PTT Consolidated Performance: FY2016 Overview Performance Outlook 12% QoQ 19% YoY 48.31 50.91 Avg. Dubai 43.16 41.27 FY15 FY16 (USD/BBL) Unit : MMTHB 15% YoY Others PTTEP 1% 1% 2,025,552 6% 6% 1,718,846 28% 18% P&R PTT - Gas…
  27. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 27
    Statement of Financial Position Overview Performance Outlook Assets/Liabilities slightly increased : MMTHB Increase in Cash and S/T investment mainly from 3% effective cost saving program within PTT group Increase in inventory from…
  28. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 28
    Statements of Consolidated Cash Flows : Y2016 Overview Performance Outlook Y2015 Y2016 Y2015 Y2016 Operating 293,338 270,435 Investing (133,043) (178,915) Net Income 19,936 94,609 CAPEX (PP&E, Intangible asset) (162,487) (109,199)…
  29. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 29
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 339bn (8bn) during 2017-2021 Overview Performance Outlook By Strategy By Business Unit Green, 1% Others, 1% JV & Investment in Subsidiaries LNG, 14% 40%…
  30. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 30
    Contents Overview Performance Outlook 2016 Overview Q4 & FY16 Performance Outlook 2017 29
  31. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 31
    Global Economic Outlook : Greater Growth Momentum amid Wider Dispersion of Risks Overview Performance Outlook US economy : Growth Picking Up Pace Bull : - Strong labor market Rising household spending - Expansionary fiscal policy…
  32. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 32
    Summary: Outlook 2017 Overview Performance Outlook Business 2016 2017 Reason (Forecast) Gas Price (/mmbtu) Range Increase in US LNG export capacity & - Henry Hub domestic consumption (coal-to-gas 2.55 3.2 3.8 switching) - JKM 5.72…
  33. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 33
    Key Takeaways Y2016 Looking Forward (2017) Improved performance in most PTT Group Businesses Global growth slightly increase Oil price started to pick up while NG continued Oil price gradually improve to be 50-55 /bbl to fall…
  34. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 34
    Thank you PTT Public Company Limited Investor Relations Department Tel. +66 2 537-3518, Fax. +66 2 537-3948, E-mail: ptt-irpttplc.com Website: http://www.pttplc.com Disclaimer The information contained in our presentation is…
  35. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 35
    PTT Group Performance : 2016 (YoY) % PTT Performance 100% holding Equity Method % PTT Unit : MMTHB Y2015* Y2016 YoY Y2015* Y2016 YoY PTT Net operating Income 28,285 52,307 85% 28,285 52,307 85% E&P - PTTEP -31,590 12,860 141%…
  36. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 36
    PTT Group Performance : Q4/2016 (QoQ) % PTT Performance 100% holding Equity Method % PTT Unit : MMTHB Q3/16 Q4/16 QoQ Q3/16 Q4/16 QoQ PTT Net operating Income 14,985 12,240 -18% 14,985 12,240 -18% E&P - PTTEP 5,446 -872 -116%…
  37. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 37
    Statements of Cash Flows (PTT Only) : Y2016 Y2015 Y2016 Y2015 Y2016 Operating Investing 81,812 97,063 4,971 (21,848) Net Income 9,555 70,808 CAPEX (PP&E, Intangible asset) (35,398) (23,807) Investment (Sub. &Affiliates) 25,064…
  38. FY 2016 Analyst Meeting – 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 4.72% : Cost of debts 4.5% : % fixed-rate 69% : % fixed-rate 68% :…
  39. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 39
    Data as of 31 Dec 2016 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production Plc.…
  40. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 40
    Natural Gas Price Structure : Jan-Dec 2016 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. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 41
    Natural Gas : Growth of natural gas upon Government fuel diversification policy for power generation Thailand Gas demand forecast PTT Gas demand forecast (CAGR during 2017-2031) : Total 1% : Total -1% : Power 2% : Power -1% : GSP -3%…
  42. FY 2016 Analyst Meeting – PTT Public Company Limited – slide 42
    Thailands Projected Energy Demand Primary Energy Consumption KBD 3,853 4,500 4,000 2,812 3% Hydro/Import 3,500 2.9% 2,714 18% Renewable 3,000 2% 4.6% 2% 10% 2,500 9% Coal/Lignite 16% 11% 11% 3.6% 2,000 Natural Gas…
  43. FY 2016 Analyst Meeting – 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 ( 4,000 km), a regulated business IRROE ranges between 12.5% - 18% for…

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