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Investor Update – PTTEP

PTTEP · Oct 9, 2014 · 49 slides

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Slides

  1. Investor Update – PTTEP – slide 1
    Leading ASEAN Energy Company NDR with MS-BLS Oct 6-9, 2014
  2. Investor Update – PTTEP – slide 2
    Contents Overview Performance 2H/2014 Outlook Overview Performance 2H/2014 Outlook 1
  3. Investor Update – PTTEP – slide 3
    Oil Balance Thailand: Jan-Jun 2014 Adequate refining capacity maintains the stability of supply Overview Performance 2H/2014 Outlook Supply Production Sales Import (80%) Domestic Imported Refined Petroleum Products 105 KBD…
  4. Investor Update – PTTEP – slide 4
    Natural Gas Balance: Jan Jun 2014 Main driver of the Thai economy Overview Performance 2H/2014 Outlook Supply Production Sales Ethane/ Gulf of Thailand (77%) Propane/ LPG/NGL Petrochemical Feedstock Chevron (14%) Others 34%…
  5. Investor Update – PTTEP – slide 5
    PTT is Thailands Largest Energy Company Overview Performance 2H/2014 Outlook PTT Public Limited Company (PTT) Robust revenue and Net Income growth since IPO (MMUSD) Largest company on Thai Stock exchange 94,756 Market cap US65bn1 or…
  6. Investor Update – PTTEP – slide 6
    PTTs Strategic Importance to Thailand Overview Performance 2H/2014 Outlook Ministry of Finance holds majority stake in PTT PTT ratings at Thai sovereign level Public 34% Thai Ministry Foreign 17% of Finance 51% Kingdom of Thai…
  7. Investor Update – PTTEP – slide 7
    Our Major Businesses & Activities Overview Performance 2H/2014 Outlook Business Areas Company PTTs holding (%) Activities Upstream E&P PTTEP 65.29% Exploration and Production PTT PLC Intermediate Gas Pipeline 100% Sole…
  8. Investor Update – PTTEP – slide 8
    PTT Aspiration Strategic direction and target to achieve Big-Long-Strong aspiration Overview Performance 2H/2014 Outlook Thai Premier Multinational Energy Company Strong TOP Quartile ROIC Big Long Ranked Fortune 84th Listed…
  9. Investor Update – PTTEP – slide 9
    1H/14 Performance: Strong PTT performance outweigh soften affiliates Overview Performance 2H/2014 Outlook MMTHB 22% 1,453 1,087 1,192 1,700 297 57,886 9,224 Avg. A/C GIM increased 8% 3,312 62% Aggregate intake decreased 11% FX…
  10. Investor Update – PTTEP – slide 10
    Contents Overview Performance 2H/2014 Outlook Overview Performance 2H/2014 Outlook 9
  11. Investor Update – PTTEP – slide 11
    E&P Key Overview in 1H/14 Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Exploration Began drilling Maple-East exploration well in Australia Farmed-in to offshore Brazil exploration project…
  12. Investor Update – PTTEP – slide 12
    E&P Performance: High-cost asset pressured performance Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Product Prices Sales Volume 4% 3% KBOED 100.84 104.64 102.82 Liquid 99.36 6% QoQ 5% HoH…
  13. Investor Update – PTTEP – slide 13
    E&P Roadmap: Shifting up gears for high potential drilling prospects and development in key projects Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Q2 2014 Analyst Meeting Focus Country Key…
  14. Investor Update – PTTEP – slide 14
    Gas BU Performance: Solid NG volume despite long winter and coup Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others NG Sales Volume* NG Customer Breakdown MMSCFD MMSCFD 7% QoQ 2% HoH AVG. 4,768…
  15. Investor Update – PTTEP – slide 15
    Gas BU Performance : Better performance from better GSP margin Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others GSP - Reference Product Prices GSP Sales Volume USD/Ton kTon 5% HoH 1,572 3,232…
  16. Investor Update – PTTEP – slide 16
    Gas BU: New Contractor : Expected completion 3rd quarter 2015 Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others 4th Onshore pipeline progress Awarded McConnell Dowell Constructors Thai Ltd. as a…
  17. Investor Update – PTTEP – slide 17
    Oil BU Performance : Non-oil business helps supporting overall performance Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin 1/ Sales Volume 2/ THB/Liter MM Liter 2% HoH 1% HoH…
  18. Investor Update – PTTEP – slide 18
    Oil BU: Going Forward Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others PTT Master Franchisor Creating Shared Value (CSV) Joining the Royal Project Foundation : Conservative coffee cultivation for…
  19. Investor Update – PTTEP – slide 19
    Trading BU Performance : Strong margin overcomes soften volume Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Contribution Margin* Sales Volume THB/Liter MM Liter 6% HoH 8% QoQ 55% HoH 36,444…
  20. Investor Update – PTTEP – slide 20
    Trading BU : Going Forward Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others 19
  21. Investor Update – PTTEP – slide 21
    Refining Business Performance: Higher GRM/GIM but lower U-Rate from plants T/A Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others GRM/GIM Aromatics USD/BBL 106.1 105.3 Aromatics Production 104.5…
  22. Investor Update – PTTEP – slide 22
    Refineries : Going Forward Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others CDU-3 Major Turnaround T/A : 18 Mar - 9 Apr T/A : 1May- 15 Jun (46 Days) T/A or S/D (165 KBD) : 15 Jun- End July…
  23. Investor Update – PTTEP – slide 23
    Petrochemical Business Performance: Low Aromatics spreads pressured performance Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Refineries Aromatics CDU 101% 103% 102% BTX U-Rate 82% 98% 91%…
  24. Investor Update – PTTEP – slide 24
    Petrochemical : Going Forward Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Strategy NEW GEOGRAPHIES/PRODUCTS THROUGH JV going forward International Business & JV Objective: To expand…
  25. Investor Update – PTTEP – slide 25
    Other Businesses : Coal - SAR (94.58%) Lower performance amid coal price downturn Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Avg. Selling Price & Cash cost Sales Volume USD/Ton kTon 7% HoH…
  26. Investor Update – PTTEP – slide 26
    SAR Project Update Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others 1H/14 Operational Overview: Continued cost reduction initiative program under downturn market. Mining contracts at Sebuku and…
  27. Investor Update – PTTEP – slide 27
    Other Businesses : Power - GPSC (30.10%) Higher margin drives performance Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Sales Volume Net Income* (100%) GWh 8% HoH (Power) MMBaht kTon 29% HoH…
  28. Investor Update – PTTEP – slide 28
    Other Businesses : Power GPSC (30.10%) Project update & overseas opportunities Overview Performance 2H/2014 Outlook E&P Gas Oil & Trading Refining PetChem Others Progress Update (Q2/14) Highlight Planned Activities 2014 Ratchaburi…
  29. Investor Update – PTTEP – slide 29
    PTT Consolidated Performance: 1H/14 Overview Performance 2H/2014 Outlook Dubai 106.1 105.3 104.5 104.5 1H/13 1H/14 (USD/BBL) 5% Others PTTEP 4% 1,433,262 4% 1,369,407 7% 8% Unit : MMTHB 0.02% 17% PTT - Gas 17% Revenue 716,571…
  30. Investor Update – PTTEP – slide 30
    Statement of Financial Position Overview Performance 2H/2014 Outlook MMTHB Decreased assets : Petroleum exploration and production 0.3% assets due to asset swap of Canada Oil 1,805,041 Sands KKD project of PTTEP 1,800,393 Cash &…
  31. Investor Update – PTTEP – slide 31
    Dividend Policy & Historical Payments PTT is firmly committed to pay dividend at no less than 25% of net income Overview Performance 2H/2014 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% 39.3%…
  32. Investor Update – PTTEP – slide 32
    PTT: CAPEX (PTT and Wholly Owned Subsidiaries) PTT plans to invest Bt 327bn* (10bn) during 2014-2018 Overview Performance 2H/2014 Outlook CAPEX Breakdown : 5 Years Unit: MMTHB By Business Unit Investment in Joint Venture and Its…
  33. Investor Update – PTTEP – slide 33
    Contents Overview Performance 2H/2014 Outlook Overview Performance 2H/2014 Outlook 32
  34. Investor Update – PTTEP – slide 34
    Economic Outlook : Challenges Ahead Overview Performance 2H/2014 Outlook US Market : Economy Expands at Moderate to Modest Pace : - US Economics Recovery - Fed maintain QE tapering : - Russian Sanction EU market: Geopolitical…
  35. Investor Update – PTTEP – slide 35
    Henry Hub / JKM Price Outlook: Gas price tends to move up in short term from winter season Overview Performance 2H/2014 Outlook US LNG Export Terminal Projects LNG Global Demand/Supply 800 Speculative 700 Excess Supply expected in…
  36. Investor Update – PTTEP – slide 36
    Crude Oil Outlook: Political tension uplifts oil price Overview Performance 2H/2014 Outlook World Oil Demand/Supply Balance Dubai Dubai 105/bbl 105/bbl 96 Dubai 103/bbl 8 95.02 95 Geopolitics 7 94.21 Surplus 94 93.31 0.81 6…
  37. Investor Update – PTTEP – slide 37
    Refinery Margin Outlook : Refinery margin remains stable during harvest season Overview Performance 2H/2014 Outlook CDU Additional Vs Additional Demand AP&ME Refinery Maintenance in Asia-Pacific Area AAsia-Pacific Refinery…
  38. Investor Update – PTTEP – slide 38
    Petrochemical Outlook : Olefin spread stable from higher demand after Ramadan Overview Performance 2H/2014 Outlook Asia Ethylene Supply/Demand Balance Asia Propylene Supply/Demand Balance 4.5 110% 4.5 110% 4.0 100% 4.0 100%…
  39. Investor Update – PTTEP – slide 39
    Petrochemical Outlook: Expect PX margin to recover, PX high cost producer still cut run Overview Performance 2H/2014 Outlook Asia Paraxylene Supply/Demand Balance 2.5 110% 2.0 100% Million Metric Tons Availability 1.5 90%…
  40. Investor Update – PTTEP – slide 40
    Debt Profile : Control Cost & Manage Risk Managed debt according to financial risk and policy Debt Portfolio Unit : MMTHB PTT Only Consolidated : Cost of debts 4.61 % : Cost of debts 4.43 % : % fixed-rate 81.82 % : % fixed-rate…
  41. Investor Update – PTTEP – slide 41
    PTT Group Performance : 1H/14 (HoH) Performance 100% % share Equity Method % PTT Unit : MMTHB 1H2013 1H2014 HoH 1H2013 1H2014 HoH PTT Net operating Income 16,107 24,901* 55% 16,107 24,901* 55% E&P - PTTEP 30,932 30,621 -1% 65.29%…
  42. Investor Update – PTTEP – slide 42
    PTT Group Performance : Q2/14 (QoQ) Performance 100% % share Equity Method % PTT Unit : MMTHB Q1/14 Q2/14 QoQ Q1/14 Q2/14 QoQ PTT Net operating Income 13,739 11,162* -19% 13,739 11,162 * -19% E&P - PTTEP 12,435 18,186 46% 65.29% 7,450…
  43. Investor Update – PTTEP – slide 43
    Statements of Consolidated Cash Flows 1H/2013 1H/2014 1H/2013 1H/2014 Operating 61,478 87,809 Investing -46,578 -54,758 Net Income 47,491 57,886 CAPEX(PP&E, Intangible asset) -59,555 -53,095 Changes in assets & liabilities -23,121…
  44. Investor Update – PTTEP – slide 44
    Statements of Cash Flows (PTT Only) 1H/2013 1H/2014 1H/2013 1H/2014 Operating 8,864 28,238 Investing 12,158 7,938 Net Income 37,376 25,147 CAPEX (PP&E, Intangible asset) -9,782 -14,004 Changes in assets & liabilities -19,896 -8,544…
  45. Investor Update – PTTEP – slide 45
    Data as of 30 June 2014 Petrochemicals & E&P and Gas Business Group Oil Business Group Refining Business Group Subsidiaries Consolidate Subsidiaries Consolidate Petrochemical Subsidiaries Consolidate PTT Exploration & Production Plc.…
  46. Investor Update – PTTEP – slide 46
    Natural Gas Price Structure : Jan-Jun 2014 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…
  47. Investor Update – PTTEP – slide 47
    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 2%…
  48. Investor Update – PTTEP – slide 48
    Thailands Projected Energy Demand Commercial Primary Energy Consumption KBD 4000 3,728 3,306 1% Nuclear 4% 3500 3% 13% 2,862 3000 13% 3% 2,321 Hydro/Import13% 19% 2500 17% 1,917 2% Renewable 12% 14% 2000 2%…
  49. Investor Update – PTTEP – slide 49
    Gas Business Generates Stable Returns Overview Gas transmission pipeline capacity Sole owner and operator of entire gas transmission pipelines in Thailand (3,678 km), a regulated business IRROE ranges between Phu Hom 12.5% - 18%…

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