Analyst Meeting 4Q and FY2019 results “One Family… Fueling the future of Thailand” Analyst Meeting 4Q and FY2019 results 1
DISCLAIMER The information contained in this presentation is intended solely for your reference. This presentation contains “forward - looking” statements that relate to future events, which are, by their nature, subject to sig nificant risks and uncertainties. All statements, other than statements of historical fact contained in this presentation including, without limitation, those regarding SPRC’s future financial positio n and results of operations, strategy, plans, objectives, goals and targets, future developments in the markets where SPRC participates or is seeking to participate and any statements preceded by, followed by or that include the words “believe”, “expect”, “aim”, “intend”, “will”, “may”, “project”, “estimate”, “anticipate”, “predict”, “seek”, “should” or similar words or expressions, are forward -looking statements. The future events referred to in these forward-looking statements involve known and unknown risks, uncertainties and other factors, some of which are beyond our control, which may cause the actual results, performance or achievements, or industry results to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These forward-looking statements are based on numerous assumptions regarding our present and future business strategies and the environment in which SPRC will operate in the future and are not a guarantee of future performance. Such forward-looking statements speak only as of the date on which they are made. SPRC does not undertake any obligation to update or revise any of them, whether as a result of new information, future events or otherwise. The information set out herein is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company. SPRC makes no representation, warranty or prediction that the results anticipated by such forward-looking statements will be achieved, and such forward-looking statements represent, in each case, only one if many possible scenarios and should not be viewed as the most likely or standard scenario. No assurance given that future events will occur or our assumptions are correct. Actual results may materially differ from those provided in the forward-looking statements and indications of past performance are not indications of future performance. In no event shall SPRC be responsible or liable for the correctness of any such material or for any damage or lost opportunities resulting from use of this material. SPRC makes no representation whatsoever about the opinion or statements of any analyst or other third party. SPRC does not monitor or control the content of third party opinions or statements and does not endorse or accept any responsibility for the content or use of any such opinion or statement. SPRC’s securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended, or the securiti es laws of any state of the United States, and may not be offered or sold within the United States, except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of such act or such laws. This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell SPRC’s securities in any jurisdiction. Analyst Meeting 4Q and FY2019 results 2
Analyst Meeting 4Q and FY2019 results 3
Contents Highlights Market overview Operational review Financial performance Analyst Meeting 4Q and FY2019 results 4
Contents Highlights Market overview Operational review Financial performance Analyst Meeting 4Q and FY2019 results 5 5
FY 2019 Achievement “MSCI Global Small Cap Index Awards” SPRC had made it into MSCI Global Small Cap Index in November 2019 “CSR -DIW Continuous Award 2019 ” , granted by the Department of Industrial Works (DIW), Ministry of Industry, for 4 th Consecutive years, in recognition of SPRC who has shown continuous commitment to Corporate Social Responsibility (CSR) continuous development. CG Award “Excellent” scoring, granted by Thai Institute of Directors Association (IOD), in collaboration with the Stock Exchange of Thailand (SET), to evaluate the good governance of Thai Listed Companies on: Rights of Shareholders, Equitable Treatment of Shareholders, Role of Stakeholders, Disclosure and Transparency, and The Board Responsibilities. “Green Industry Level 3” : Green System Awards for systematic environmental management including follow-up, assessment and revision aimed to continuous development (2019 - 2023) By Ministry of Industry “2019 Event Project” : SPRC successfully completed the 2019 Refinery wide Turnaround and Inspection, Increase Capacity to 175 KBD and Reliability Projects during November – December 2019 without Day Away From Work Injury, maintenance was on plan and under the planned budget. Analyst Meeting 4Q and FY2019 results 6
2019 Event Project 2019 Event Project ($25 6 M) Turnaround & Inspection Increase Capacity to Reliability Projects (T&I) 175 KBD The Best Event Ever • Successfully completed the 2019 Refinery wide Turnaround and Inspection, Increase Capacity to 175 KBD and Reliability Projects during November – December 2019 without Day Away From Work Injury, maintenance was on plan and under the planned budget. • Target 6 years run length without any planned shutdown • Operational planning in progress to capture benefits from reliability and capacity upgrades. • Lower future structure OPEX per barrel. • Looking for margin improvement opportunities post Event project . Analyst Meeting 4Q and FY2019 results 7
SPRC’s Winning formula “At SPRC we believe that nothing is more important than being safe and reliable. We work together as one family to protect our employees, the environment, the community, and to be our customers partner of choice. All of which creates maximum value for SPRC’s shareholders.” Tim Potter, CEO Analyst Meeting 4Q and FY2019 results 8
FY2019 Highlights 0 99.9% 75.8% 9 7.1% 80.9%* TOTAL DAYS AWAY AVAILABILITY UTILIZATION OF EQUIVALENT DISTILLATION FROM WORK RATE (‘DAFWR’) EX. TURNAROUND CAPACITY (UEDC)** THB 0.0625 $2.24/bbl $3.39/bbl $2.34/bbl /share BOTTOM LINE OPEX PER BARREL DIVIDEND MARKET GRM IMPROVEMENT PROGRAM Excluding T&I and Project OPEX Excluding interim dividend of THB 0.1202/share Total 2019 dividend of THB 0.1827/share * Normalized UEDC excluding economically concern for the best profitability. ** Lower UEDC from Turnaround and 2019 Event project, economic returns optimization and end of run plant conditions . Analyst Meeting 4Q and FY2019 results 9
SPRC’s Formula for success A strong foundation of personal safety … …exceptional reliability… …driving optimization & cost efficiencies… …and maximizing GRM SAFETY RELIABILITY OPTIMIZATION MARKET GRM PERFORMANCE UPLIFT TOTAL DAYS AWAY OPERATIONAL AVAILABILITY US$/bbl FROM “BLIP ” FROM WORK RATE EX. TURNAROUND BLIP: Bottom Line Improvement Program (Injuries per 200,000 man-hours) 99.1% 99.9% SG GRM 99.9% 99.8% 100.0% 100.0% US$/bbl 5.67 5.07 5.21 1Q19 2Q19 3Q19 4Q19 2018 2019 No one gets hurt 2.93 2.64 3.39 2.39 EDC UTILIZATION RATE 2.34 2.34 3.07 2.11 3.46 2.57 2.49 90.9% 85.1% 85.7% 94.2% 2.40 75.8% 2.13 2.37 42.0% 0 0 0 0 0 0 (0.27) 1Q19 2Q19 3Q19 4Q19 2018 2019 1Q19 2Q19 3Q19 4Q19 2018 2019 1Q19 2Q19 3Q19 4Q19 2018 2019 1Q19 2Q19 3Q19 4Q19 2018 2019 ▪ 4Q19: Captured BLIP benefit from ▪ Market GRM decreased from weak ▪ Achieved over 6 years without ▪ Sustained high availability but lower good crude and process product cracks. Days Away From Work injury. UEDC due to Refinery wide optimization. Turnaround and Event Project The last DAFW was 24 Jun 2013. ▪ Crude premium relative to Dubai ▪ Target top quartile performance in ▪ Maximized domestic placement for and Freight cost limited margin ▪ Achieved 26.6 million man-hours gasoline, diesel and jet. recovery. availability and utilization among without Days Away From Work over 90 refineries in the Asia Pacific ▪ End of run conditions limited injury. and India Ocean region. process optimization benefit in 2019. Analyst Meeting 4Q and FY2019 results 10
Contents Highlights Market overview Operational review Financial performance Analyst Meeting 4Q and FY2019 results 11 11
Recommend
More recommend
