Opportunity Day – Quarter 3/2014 PTG Energy Public Company Limited Agenda Business Overview and Outlook Key Highlights Financial Performance Business Updates 2 Agenda Business Overview and Outlook Key Highlights Financial Performance Business Updates 3 Business Overview 886 Stations 9 Tank Farms Topic 1: Business Overview 330 Trucks 2.1M Members 4 Crude Oil Price Outlook Crude oil price has decreased by more than 20% since June 2014 and still decreasing. Unit: $/Barrel 120 112 100 87 80 60 62 40 Source: U.S. Energy Information Administration WTI Oct Sep Aug July June May Apr Mar Jan Feb 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 2002 2001 2000 1999 1998 1997 1996 1995 1994 1993 1992 1991 1990 1989 1988 0 1987 20 Brent Average Ex-Refinery Diesel Price 24.81* Baht/Litre 2013 Topic 1: Business Overview Average Inventory Period (Days)** 23.78* Baht/Litre Sep 2014 Refinery = Approx. 40 days Retail Petroleum = Approx. 10 days Source: *Energy Policy and Planning Office, Ministry of Energy **Company Summary from SET website 5 Oil Consumption in Thailand Thailand GDP Annual Growth Rate GDP growth forecast at +1% for 2014 +6.5% +2.9% -0.5% 2012 2013 1Q2014 +0.4% +0.6% 2Q2014 3Q2014 Source: Office of the National Economic and Social Development Board 2.30% Sales Volume of Gasoline and Diesel in Thailand Unit: Million Litres 20,959 21,788 22,038 6,749 6,915 7,130 7,111 7,425 7,493 7,099 7,448 7,415 9M2012 9M2013 Quarter 2 9M2014 Quarter 1 Sales Volume in 9M2014 slightly increased by 1% compared to 9M2013. Quarter 3 Source: Energy Policy and Planning Office, Ministry of Energy Topic 1: Business Overview 6 Agenda Business Overview and Outlook Key Highlights Financial Performance Business Updates 7 Break Last Year’s 9M Record Total Sales Volume (ML) Unit: Million Litres 1,221 1,002 Q3 363 Q1 410 Q3 315 464 394 315 9M2012 COCO DODO Jobbers and Industrial 28% 56% 16% 356 Q2 1,316 se a e cr n I by 9M2013 456 Q2 450 Q1 9M2013 9M2014 • Total sales volume increased by 8%. • Sales volume through COCO increased from 56% to 70%. • Diesel accounts for 78% of total product sold. Topic 2: Key Highlights 16% 14% 70% 9M2014 8 New Campaign (December 1st, 2014 – January 31st, 2015) Topic 2: Key Highlights 9 Our Lucky Customers Topic 2: Key Highlights 10 Efficient Transportation Unit: Million Litres 1,025 788 336 336 Further Expansion 9M2013 Volume* 9M2014 Number of Trucks Note: *Accounted for revenue-generating volume only Increase the quantity of product delivered by 30% while utilizing the same number of trucks. Topic 2: Key Highlights 11 Continuous Station Expansion Number of Stations 0.18K Average SSS per Station by Tier Unit: Million Litres 3Q2014 886 Stations 2Q2014 820 Stations 1Q2014 758 Stations 0.09 0.14 0.17 0.17 0.18 0.17 0.18 0.19 0.20 0.08 0.12 0.15 0.15 0.26 0.30 0.34 0.34 2011 2012 2013 9M2014 Pre-2009 Topic 2: Key Highlights 0.08 0.15 0.10 0.14 0.17 2009 2010 2011 2012 2013 2014 12 Membership Status and Consumption via COCO Max Card Members 2.50 2.14 Unit: Million Members 1.34 0.29 2012 2013 As of Sep2014 Projected 2014 Consumption by Members via COCO Members 34% Non-Members 66% (217 ML) (417 ML) FY 2012 Total Volume: 634 ML Topic 2: Key Highlights Non-Members 33% Non-Members 39% (373 ML) Members 61% (580 ML) FY 2013 Total Volume: 953 ML (301 ML) Members 67% (612 ML) 9M 2014 Total Volume: 913 ML 13 Agenda Business Overview and Outlook Key Highlights Financial Performance Business Updates 14 Financial Performance Total Revenues and Contribution from COCO Unit: Million Baht 47,857 41,819 COCO contributed to 75% of total revenue from sales and services 40,121 61% 70% 47% 11,907 2012 2013 9M2014 11,166 56% 52% 64% 1Q2013 2Q2013 3Q2013 Sales and Services Topic 3: Financial Performance 13,836 Other Income 13,605 65% 1Q2014 13,924 71% 2Q2014 12,592 75% 3Q2014 %COCO 15 Financial Performance (Cont.) EBITDA and Net Profit Unit: Million Baht Continuous growth 947 EBITDA and Net Profit 9M2014 surpassed FY2013 868 743 340 312 358 335 283 275 256 132 125 328 162 106 136 117 2Q2014 3Q2014 30 2012 2013 9M2014 1Q2013 2Q2013 EBITDA Topic 3: Financial Performance 3Q2013 1Q2014 Net Profiit 16 Profitability Ratios Gross Profit Margin, EBITDA Margin and Net Profit Margin 6.08% 5.54% 5.52% 4.85% 4.74% 4.15% 2.37% 1.78% 1.82% 0.81% 0.65% 2012 2013 2.16% 4.61% 4.52% 4.97% 2.41% 2.09% 1.99% 2.61% 1.46% 0.89% 9M2014 1.05% 0.96% 1Q2013 2Q2013 Gross Profit Margin 0.27% 0.78% 0.97% 3Q2013 1Q2014 2Q2014 EBITDA Margin 0.93% 3Q2014 Net Profit Margin Gross Profit Margin has increased continuously while EBITDA Margin and Net Profit Margin increased slightly due to an investment phase Topic 3: Financial Performance 17 Long Term Strategy and Marketing Margin Unit: Stations 1000 800 Number of COCO stations increased steadily. 600 400 200 0 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013 2Q2013 3Q2013 4Q2013 1Q2014 2Q2014 3Q2014 DODO COCO Unit: Baht/Litre 2.50 Retail Marketing Margin is well above EPPO’s reported average Marketing Margin. 2.00 1.50 1.00 0.50 0.00 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013 2Q2013 3Q2013 4Q2013 1Q2014 2Q2014 3Q2014 PTG Retail EPPO* Source: * Average Marketing Margin of Gasoline, Gasohol, Diesel (Bangkok) from Energy Policy and Planning Office, Ministry of Energy Topic 3: Financial Performance 18 Statement of Financial Position Unit: Million Baht 5,935 Cash & Cash Equivalent Current Assets 516 1,524 6,540 Debt to Equity Ratio 223 1.86 Trade & Other 2,111 Payables 2,166 2012 1,770 966 1,223 Liabilities 0.87 0.84 0.88 0.89 2013 1Q2014 2Q2014 3Q2014 Interest Bearing Debt to Equity Ratio 0.97 Non-Current 3,649 Assets 3,188 4,151 0.35 0.29 0.33 0.24 2013 1Q2014 2Q2014 3Q2014 3,463 Equity 2012 ROA and ROE Dec 2013 Dec 2013 2014 SepJun 2014 Higher current assets and non-current assets due to business expansion, as well as an increase in Trade & Other payables from increasing sales volume. Topic 3: Financial Performance 27.79% 9.93% 2012 13.70% 13.05% 6.32% 2013 7.03% 16.33% 13.80% 8.77% 7.30% 1Q2014 2Q2014 ROA ROE 3Q2014 19 Agenda Business Overview and Outlook Key Highlights Financial Performance Business Updates 20 Project in Progress – Rest Areas Khao Pho Rest Area, Prachuap Khiri Khan Province Topic 4: Business Updates 21 Project in Progress – Rest Areas (Cont.) Topic 4: Business Updates 22 2014 Target Updates Sales Volume Margin No. of Station +20% YoY Focus on COCO to increase GPM 200 COCO 30 DODO Max Card Members Investment in Trucks Rest Areas Chinat: Completed before Thai New Year Projected 2.5M Topic 4: Business Updates Postpone to 2015 Khao Pho: Completed by mid 2015 23 Thank You More information, please contact [email protected] Tel: +66 2168 3377
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