4Q2019 and FY2019
Analyst Presentation
March 6, 2020
Analyst Presentation March 6, 2020 Disclaimer The information - - PowerPoint PPT Presentation
4Q2019 and FY2019 Analyst Presentation March 6, 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
March 6, 2020
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 : FPO, Reuters: Oil prices and Industry GRM, DOEB: Industry demand growth, NESDC : GDP
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Fourth quarter:
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Full year:
run of 114 KBD
response to market condition
continued expanded service station networks
2.8
4.6 2.1 4Q18 3Q19 4Q19 2018 2019 141 100 76 143 114 4Q18 3Q19 4Q19 2018 2019 4.2 6.5 1.6 5.8 3.7 4Q18 3Q19 4Q19 2018 2019 4.7 11.6 12.9 10.5 9.0 15.5 15.9 14.8 15.2 14.3 4Q18 3Q19 4Q19 2018 2019
UGP ADO
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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 ($/Bbl)
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Crude Intake by Source Sales Channel
2018 2019 27% 31% 56% 45% 17% 24%
Middle East Far East & South East Asia Others
2018 2019 7% 4% 40% 42% 53% 54% Commercial Retail Export
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Production by Type Product Yields
middle distillates
2018 2019 17% 17% 9% 11%
47% 44%
27% 28%
Light Middle Heavy Feedstock
2018 2019
17% 17% 7% 9%
2% 2%
9% 9% 38% 35% 19% 20% 3% 3% 5% 5%
LPG Naphtha Gasoline Diesel Jet/Kerosene Asphalt Fuel Oil Feedstock and others
514 194 164 359 275 340 111 113 229 199 4Q18 3Q19 4Q19 FY2018 FY2019 PX-UGP PX-MX
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Px Spread ($/Ton) Px Production (kTon/quarter)
97 52.9 39 366 281 4Q18 3Q19 4Q19 2018 2019
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Number of Service Stations offering Supreme Plus Diesel Number of New Service Stations Number of Service Stations offering Premium Products Number of Outlets with Mobil Signage Number of New Service Stations Number of Service Stations with Synergy Image
23 15 27 73 41 2015 2016 2017 2018 FY19 337 382 425 141 205 254 2017 2018 2019 295 345 779 1,221 1,641 2015 2016 2017 2018 2019 541 542 553 608 638 0% 35% 81%
0.2 0.4 0.6 0.8 1 1.2 400 500 600 700
2015 2016 2017 2018 2019
Total Service Station Numbers Synergy stations (% of total stations)
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Sales Revenue (Billion Baht) Cash Flow from Operations (Billion Baht) EBITDA (Billion Baht) Net Profit (Billion Baht)
51.4 37.8 200.8 169.3 4Q18 4Q19 2018 2019 (2.9) (1.8) 4.5 (2.1) 4Q18 4Q19 2018 2019 (2.7) (1.9) 2.2 (3.1) 4Q18 4Q19 2018 2019 0.7 (8.1) 2.1 (10.2) 4Q18 4Q19 2018 2019
25.8 22.1 15.3 26.9
YE2018 YE2019
Shareholders’ equity Debt
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Balance Sheet Indicators (Billion Baht) Cash Flows (Billion Baht)
excise tax payment for imported products, deferred income tax assets, and higher inventory balances.
capital investment for Refinery and Marketing
net proceeds from borrowings partly offset by dividend payments
D/E = 1.2 D/E = 0.6 32.5 34.3 18.4 19.1 6.3 6.5 4.5 6.4
YE2018 YE2019
Non-current assets Inventory Receivables Other current assets
(0.9) (1.2) 2.1 (10.2) (1.2) 11.2 2018 2019 Cash flow from (used in) financing activities Cash flow from (used in)
Cash flow from (used in) investing activities
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and loyalty programs
IR contact details: Email: essoIR@exxonmobil.com Numbers: +662-407-4788 Presentations: www.esso.listedcompany.com/slides.html