1Q2020 Analyst Presentation
May 21, 2020
TM
1Q2020 Analyst Presentation May 21, 2020 Disclaimer The - - PowerPoint PPT Presentation
TM 1Q2020 Analyst Presentation May 21, 2020 Disclaimer The information contained in this presentation is provided by Esso (Thailand) Public Company Limited (the "Company") and is subject to change without notice, its accuracy is not
May 21, 2020
TM
The information contained in this presentation is provided by Esso (Thailand) Public Company Limited (the "Company") and is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning the
person accepts any liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or
This presentation contains statements that constitute forward-looking statements. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of
are not guarantees of future performance and involve risks and uncertainties, and actual results may differ from those in the forward-looking statements as a result of various factors and assumptions. Forward-looking statements are based on management’s knowledge and reasonable expectations on the date hereof, and the Company assumes no duty to update these statements as of any future date. This presentation does not constitute or form part of any offer for sale or subscription of or solicitation or invitation of any offer to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract or commitment whatsoever. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness.
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Source : NESDC: GDP, Reuters: Oil prices and Industry GRM, DOEB: Industry demand growth
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Covid-19 pandemic
adjusted to cope with jet demand drop
by unfavorable inventory effects
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Industry Gross Refining Margin ($/Bbl) Crack Spread ($/Bbl) Crude Intake (KBD)
Source : Industry GRM and Crack Spread from Reuters
Gross Refining Margin ($/Bbl)
146 135 100 76 122 1Q19 2Q19 3Q19 4Q19 1Q20 3.2 3.5 6.5 1.6 1.2 1Q19 2Q19 3Q19 4Q19 1Q20 3.7 7.5 11.6 12.9 6.7 13.5 12.8 15.9 14.8 11.7 1Q19 2Q19 3Q19 4Q19 1Q20 UGP ADO 4.5 1.3 2.8
1Q19 2Q19 3Q19 4Q19 1Q20
1Q2019 1Q2020 19% 30% 46% 37% 35% 33%
Middle East Far East & South East Asia Others
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Crude Intake by Source Sales Channel
1Q19 1Q20 4% 6% 39% 39% 57% 55% Commercial Retail Export
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Production by Type Product Yields
1Q19 1Q20 17% 17% 11% 10% 44% 45% 28% 28% Light Middle Heavy Feedstock 1Q19 1Q20
17% 17% 9% 9%
2% 1%
9% 8% 35% 37% 19% 21% 4% 3% 5% 4%
LPG Naphtha Gasoline Diesel Jet/Kerosene Asphalt Fuel Oil Feedstock and
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Px Spread ($/Ton) Px Production (kTon/quarter)
100 90 53 39 53 1Q19 2Q19 3Q19 4Q19 1Q20 473 270 194 164 219 372 201 111 113 118 1Q19 2Q19 3Q19 4Q19 1Q20 PX-UGP PX-MX
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Number of Service Stations offering Supreme Plus Diesel Number of New Service Stations Number of Service Stations offering B10 Number of Outlets with Mobil Signage Number of New Service Stations Number of Service Stations offering Premium Products
15 27 73 41 4 2016 2017 2018 2019 1Q20 337 382 425 426 141 205 254 259 2017 2018 2019 1Q20 542 553 608 638 641 125 328 2016 2017 2018 2019 1Q20 Total Service Stations B10 345 779 1,221 1,641 1,648 2016 2017 2018 2019 1Q20
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Sales Revenue (Billion Baht) Cash Flow from Operations (Billion Baht) EBITDA (Billion Baht) Net Profit (Billion Baht)
46.0 39.4 1Q19 1Q20 1.4 1.1 1Q19 1Q20 1.7 (7.3) 1Q19 1Q20 1.0 (6.3) 1Q19 1Q20
22.1 15.4 26.9 26.8 YE2019 1Q20
Shareholders’ equity Debt
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Balance Sheet Indicators (Billion Baht) Cash Flows (Billion Baht)
inventory balances and trade receivables, partly offset by an increase in non-current assets from TFRS 16 adoption
capital investment for Refinery and Marketing
borrowings and payments on lease liabilities
D/E = 1.7 D/E = 1.2
(0.3) (0.5) (0.9) (0.2) 1.4 1.1 1Q19 1Q20
Cash flow from (used in) operating activities Cash flow from (used in) financing activities Cash flow from (used in) investing activities
34.3 37.7 19.1 15.1 6.5 4.6 6.4 5.3 YE2019 1Q20 Non-current assets Inventory Receivables Other current assets
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challenging environment of Covid-19
dampened crude, products prices and margins
demand plunge
spending