company presentation · ptt, sgp, and refineries to sell lpg ... (caz thailand co. ,ltd.) since 7...
TRANSCRIPT
COMPANY PRESENTATION
March 2017
AGENDA
Company Overview
Business Unit Review
Financial Performance
2
AGENDA
Company Overview
Business Unit Review
Financial Performance
3
Company Overview
4
LPG Trading
LPG Truck
LPG station
Industrial use
Household
PTTSGPUAC
Trading Process Distribution point
PATHUM Depot
400 Tons
PICHIT Depot
1000 Tons
Average Sales 14.62 MB/ month
Legal stock reserve 500 tonsAverage Sales 10.66 MB/month
LPG legal reserve rental 0.49 MB/month
The company purchases LPG fromPTT, SGP, and refineries to sell LPGunder trademark of “Champion Gas”to LPG stations, manufacturers, andfilling plant.
Bangkok
Eastern
Northern
LPG TRADING BY AREA
41%
43%
16%
3%Market share in
automotive
88%LPG Station
customer
Company Overview
5
Transportation
Ammonia and others
Providing LPG transportation by truck domestically and internationally (Myanmar, Laos, Cambodia, and Malaysia) with international safety standard.
LPG Transportation
4Six-wheel
Trucks
9
9
Ten-wheel Trucks
Semi-trailer Trucks
We are expanding our client base into other sectors. Transporting Ammonia for PTT
– 3 Ammonia Trucks (2 trucks are in assembly process)
Transporting structural fabricated component from our fabrication shop to construction site – 2 Semi Trailer Trucks
TAKUNIPTT
REVENUE BY CUSTOMER
71%9%
Company Overview
Construction and Shop Fabrication
6
Oil and Gas Sector
Construction
Shop Fabrication and Erection
Property Sector
Cool Condominium
Experiences• PTT MCS / 485.33 MB• PTT Tank EPC / 320 MB• PTTLNG STR FAB& Erection Work/
112.54 MB• IRPC PPE / 81.05 MB• ThaiOil TLAB / 38.15 MB
Experiences• PTTLNG STR FAB& Erection
Work/ 157.45 MB• ThaiOil TLAB / 105.33 MB
Construction project in property sector with project value of 169.74 MB.
Rayong Fabrication shop 30,000 sq.m.
132 Staffs
Max. Capacity of 3000 workers
Office and workshop 172,000sq.m.
Company Overview
7
Testing and inspection
Customers
Providing safety inspection by non-destructive testing techniques under international instruction by qualified supervisors.
Non-Destructive testing
Most of our customers are using LPG and CNG in which they are subjected to the regulations and must be certified annually.
Company Overview
Integrated Services
Construction
Our Businesses, as mentioned, has provided an One Stop Service for our LPG related customer as well as differentiate us from others.
For example, LPG Station customer, 1) Providing engineering and construction
service including process all permission needed.
2) Supplying LPG including transport LPG to customer station.
3) Providing safety inspection complied with all regulations.
8
Customer
LPG Trading
Inspection
Vehicle Conversion
Property
DevelopmentTransportation
Engineering Procurement Construction
AGENDA
Company Overview
Business Unit Review
Financial Performance
9
Business Unit Review
LPG Trading
265254
241 247234 241
199186
100
200
300
Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16
Revenue (MB) Revenue o Y-o-Y (-24.69%) : Decrease in LPG volume as
the usage of LPG in transportation sector was decreased from previous year
o Q-o-Q (-6.53%) : Slightly decrease in LPG
quantity sold from previous quarter.
12.63
5.69 5.10 4.775.73 6.52 5.94 5.95
0
5
10
15
Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16
Gross Profit (%)Gross Profito Gross Profit : No significant from previous
quarter.
o In February 2015, the government’s LPG floating policy make one time gain on inventory 5.55% of LPG trading income.
10
Business Unit Review
Construction and Shop Fabrication
Civil Construction in Property Sector
Project
Cool Condominium /169.74 MB/ Progress 81%
Civil Construction and Shop Fabrication in Gas and Oil sector
Project
PTT MCS / 450 MB / Progress 39.31%PTT Tank EPC / 320 MB/ Progress 0.18%
IRPC PPE / 81.05 MB / Progress 89.89%
20 4381
113
37
209 219175
0
100
200
Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16
Revenue by sector (MB)Oil& Gas
Property
RevenueY-o-Y (+54.87%) : Sharply increase from changing the status of investment from associated to be subsidiary.Q-o-Q (-20.09%) : Decrease percentage of completion for Cool condominium project.
Gross ProfitIn Q4’16, recognized the expected loss from property construction amounting of 24.32 MB, which resulted in negative GP.
11
BacklogProperty Sector
Gas and Oil sector
31.90 Mil.Baht
300.88 Mil.Baht
Business Unit Review
Other Business Units
23.88
17.5420.43
25.7422.22 21.08
18.61
25.38
0
10
20
30
Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16
Revenue (MB)
40.229.43
40.82
-14.34
45.6836.67
28.53
41.61
-20
5
30
55
Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16
Gross Profit (%)
Revenue o Y-o-Y (-1.40%) : Slightly decrease in
transportation service income as decreased in number of service.
o Q-o-Q (+36.38%): Increase in inspection service income as increased in number of service compared to the previous quarter.
Gross Profito Increased Gross Profit from previous quarter
because of the increased in number of service inspection business.
12
AGENDA
Company Overview
Business Unit Review
Financial Performance
13
Financial Performance
Consolidated Revenue
309 315342
386
293
471437
388
0
200
400
600
Q1'15 Q2'15 Q3'15 Q4'15 Q1'16 Q2'16 Q3'16 Q4'16
Revenue (MB)
0
100
200
300
400
500
Q1'16 Q2'16 Q3'16 Q4'16
Proportion by Business Units
LPG trading Construction Other
79.71%
12.71% 50.18%
45.54%
Consolidated revenue o Y-o-Y (+0.52% ) : Slightly increase because of the business combination of civil construction and shop fabrication in Gas
and Oil sector (CAZ Thailand Co. ,Ltd.) since 7 April 2016.o Q-o-Q (-11.21%): Decrease from revenue from construction business (in completion stage of property construction) and
LPG trading business.
14
45.14%
47.96%
Financial Performance
Consolidated Profit
Gross Profit and Net Profito Y-o-Y (-6.70% for GP and -0.72% for NP ) : decreased in gross profit of property construction service sector as recorded
expected loss from property construction amounting of 24.32 MB in Q4’16. o Q-o-Q (-5.31% for GP and +0.62% for NP ) : decreased in gross profit of property construction service sector as
recorded expected loss from property construction amounting of 24.32 MB in Q4’16.
Q4’15 Q1’16 Q2’16 Q3’16 Q4’16
Gross Profit Margin
8.38% 10.44% 10.11% 6.99% 1.68%
Net Profit Margin 1.43% 0.32% 3.97% (0.09%) (0.71%)
15
Financial Performance
Financial Position
11.97%
63.11%
21.38%
o Increase in Net Asset due to capital paid up (Right Offering) in Jan’16
o Cash increased from capital paid up will be used for new investment
o Sharply increase in Total Asset due to consolidated unbilled receivable from civil construction and shop fabrication in Gas and Oil sector
Assets
o Account Payable increased from unearned revenue for construction contract
o Decreased in Loan from bank as repayment from cash received from paid up capital
Liabilities and Equity
Dec 2015 Dec 2016
Total Asset 770 MB 1,359 MB
Net Asset 415 MB 858 MB
Total Cash 130 MB 354 MB
Net Cash* 90 MB 287 MB
* Total Cash less pledged and restricted bank deposits
770 MB (Dec’15)
1,359 MB (Dec’16)
D/E Ratio : 0.86
Interest Bearing debt: 0.61
16
Account Payable
Borrowing fromfinancial institutionsOther Liabilities
Equity
10.99%
53.92%32.24%
Financial Highlight
Dividend Policy: Not less than 40% of net profit according to the Company’s consolidated financial statements; however, subject to the necessity of working capital use for business expansion.
Financial Performance
17
Dividend Payment
FY2014 FY2015
24.00 MB
0.060 THB 0.033 THB
26.16 MBTotal Dividend
Dividend per Share
Number of Share 400 Mil 800 Mil
Q & A