sta sta
play

STA STA 2Q 2Q19 19 An Analyst lyst Pre Presentation entation - PowerPoint PPT Presentation

Feb 16, 2023 •697 likes •1.03k views

STA STA 2Q 2Q19 19 An Analyst lyst Pre Presentation entation 1 CO CONTENTS TENTS 1. . Financi ancial al Pe Perfor formanc mance 2. ST STA A Bus usiness iness Highlights hlights 3. Na Natural ural Rub ubber ber Market

  1. STA STA 2Q 2Q19 19 An Analyst lyst Pre Presentation entation 1

  2. CO CONTENTS TENTS 1. . Financi ancial al Pe Perfor formanc mance 2. ST STA A Bus usiness iness Highlights hlights 3. Na Natural ural Rub ubber ber Market rket Si Situation uation 2

  3. 1 FIN INANCIAL ANCIAL PER ERFORMAN FORMANCE 3

  4. SICOM COM – Oil il Pri rices ces 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 Avg. = 139.4 (+10.0%) Avg. = 151.3 (+8.6%) Avg. = 140.0 (-4.4%) Avg. = 132.9 (-5.7%) Avg. = 146.5 (+1.9%) Avg. = 126.7 (-4.6%) 220 200 ice 180 OM Pric (US cent : Kg.) 160 SICOM 140 RSS RSS 120 TSR SR 100 Jan-18 b-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 t-18 Nov-18 Dec-18 Jan-19 b-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Feb- Oct- Feb- Apr Nov Dec Apr Ma Ma Fe Ma Au Se Fe Ma Au 100 Avg. = 67.3 (+9.1%) Avg. = 68.1 (-10.1%) Avg. = 63.9 (-6.1%) Avg. = 75.0 (+11.5%) Avg. = 75.8 (+1.1%) Avg. = 69.0 (+7.9%) 90 90 l Prices 80 80 l.) 70 70 D : Bbl. Crude Oil (USD 60 60 50 50 40 40 Jan-18 b-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 t-18 Nov-18 Dec-18 Jan-19 b-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Feb- Oct- Feb- Apr Nov Dec Apr Ma Ma Ma Ma Fe Au Se Fe Au ABBREVIAT ATIONS 4 RSS : Ribbed smoked sheet LTX: Concentrated Latex TSR : Technically specified rubber, which includes STR and SIR

  5. Latex La ex – Butadiene diene – Acry rylonitri lonitrile le - Fore rex 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 Avg. = 109.8 ( -30.9% ) Avg. = 138.3 ( +24.7% ) Avg. = 159.7 ( +15.4% ) Avg. = 159.0 ( +18.6% ) Avg. = 107.5 ( -2.1% ) Avg. = 103.3 ( -4.0% ) 99.2 ( -3.0% ) 117.7 ( +6.1% ) 113.8 ( -3.4% ) 102.3 ( -13.3% ) 112.7 ( +14.7% ) 128.4 ( +14.0% ) 240 240 179.8 ( -15.5% ) 179.5 ( -0.6% ) 193.0 ( +7.5% ) 212.8 ( +18.5% ) 152.5 ( -15.2% ) 214.0 ( +40.3% ) ACN 200 200 Price (US cent : Kg.) LTX & BD & A 160 160 120 120 80 80 BD-SEA BD SEA BD BD-China ACN AC LTX LT 40 40 Jan-18 b-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 t-18 Nov-18 Dec-18 Jan-19 b-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Feb- Oct- Feb- Apr Nov Dec Apr Ma Ma Fe Ma Au Se Fe Ma Au Avg. = 31.39 (-4.3%) Avg. = 31.45 (+0.02%) Avg. = 31.72 (+1.1%) Avg. = 31.81 (+3.4%) Avg. = 32.64 (+2.6%) Avg. = 31.44 (-3.7%) 34 34 4.3 .3 4.2 .2 33 33 4.1 .1 Currency ncy 32 32 4.0 .0 3.9 .9 31 31 3.8 .8 30 30 3.7 .7 USD/THB USD/T USD/MYR USD/MYR 29 29 3.6 .6 Jan-18 b-18 Mar-18 Apr-18 18 May-18 Jun-18 Jul-18 Aug-18 18 Sep-18 t-18 Nov-18 Dec-18 Jan-19 b-19 Mar-19 19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Feb- Oct- Feb- Sep Nov Dec Ma Ap Ma Ap Fe Ma Au Fe Ma Au 5 ABBREVIATIONS LTX: Concentrated Latex BD: Butadiene ACN: Acrylonitrile SEA: South East Asia

  6. Fin inancial ancial Hi High ghlight light 1Q19 (Unit : THB million) 2Q19 2Q18 %YoY %QoQ FY18 [Restated ] Revenue 15,151.1 19,754.8 -23.3% 14,870.7 1.9% 73,492.8 Sales volume (tons) 260,783 353,773 -26.3% 285,334 -8.6% 1,336,649 Avg. selling price (Baht per ton) 47,000 47,593 41,404 45,907 -1.2% 13.5% Gross profit 1,453.1 2,260.6 1,052.9 7,107.5 -35.7% 38.0% Adj. gross profit* 1,193.4 2,638.8 -54.8% 620.9 92.2% 8,254.2 SG&A (1,120.1) (1,338.1) -16.3% (1,164.9) -3.8% (5,247.9) Gains (loss) on exchange rate, net 175.5 (443.8) 97.8 (252.2) N/A 79.4% Other gains, net (64.9) 289.2 N/A (448.7) -85.5% 1,203.3 Operating profit (loss) 551.8 812.1 -32.1% (433.8) N/A 3,050.2 Share of profit (loss) from investments in JV 36.4 57.0 -36.1% 37.0 -1.5% 223.7 EBITDA 1,239.3 1,449.7 -14.5% 179.8 589.3% 5,657.4 EBIT 588.2 869.2 -32.3% (396.6) N/A 3,273.9 Finance costs (235.3) (224.4) (227.7) (887.0) 4.9% 3.3% Net profit 270.0 591.9 -54.4% (627.7) N/A 2,064.4 GP margin 9.6% 11.4% -185.26 7.1% 251.03 9.7% Adj. GP margin* 8.6% 13.3% 4.2% 11.2% -470.00 370.12 Operating profit margin 3.6% 4.1% -46.91 -2.9% 655.91 4.2% EBITDA margin 8.2% 7.3% 1.2% 7.7% 84.11 697.05 Net profit margin 1.8% 3.0% -4.2% 2.8% -121.40 600.34 * Adjusting for (reversal) allowance of inventory and realized gains /(losses) from hedging activities 6

  7. Sale les s Reve venue nue Sales s Revenue by Prod oduct (THB Sales s Revenue ue by Geography hy HB million) -19. 9.8% 37,444 1% 1% 1% 1% 2% 2% 2% 2% 2% 2% 90 90 9% 9% 8% 8% 7% 7% 9% 9% 9% 9% 5,470 470 30,022 1,978 -23. 3.3% 22 22 1% Other hers 25% 25% 24% 24% 3,634 634 30% 30% 5,929 929 31% 31% 20% 31% 31% Eur Europe ope 1,134 4% 19,755 +1.9 .9% 3,176 176 10% USA 60 60 Other hers 2,857 857 15,151 14,871 795 Glove Gloves 1,749 749 42% 42% 9 9 Asia (E Asi (Exculdi ulding ng 44% 44% 13 13 19% 35% 35% 2,885 885 34% 34% 3,044 044 26,271 271 33% 33% LTX China&Thailan China land) d) 310 2% 824 1,561 561 10% 1,615 615 China China RSS RSS 19,760 760 66% 14,293 293 TSR 10,386 386 Dome Domestic stic 69% 9,375 375 16% 16% 16% 16% 15% 15% 16% 16% 14% 14% 2Q 2Q18 18 1Q 1Q19 19 2Q19 2Q 19 6M18 6M18 6M19 6M19 2Q18 2Q 18 1Q19 1Q19 2Q19 2Q 19 6M18 6M18 6M19 6M19 [Rest stated] d] [Rest stated] d] 7

  8. Gr Gross ss Pro rofit fit Gross s Profit ofit (THB ) – 2Q19 9 Gross s Profit ofit (THB ) – 6M19 6M19 B million on) B million on) 4,50 500 15.0% 15.0% 2,50 500 15.0% 15.0% 12.4% 4,00 000 13.3% 3% 12.0% 12.0% 3,50 500 2,00 000 12.0% 12.0% 10.6% 6% 3,00 000 9.0% 9.0% 9.4% 8.6% 2,50 500 1,50 500 9. 9.0% 0% 6.4% 2,00 000 3,771 2,261 61 6.0% 6.0% 1,00 000 6.0% 6. 0% 1,970 70 1,50 500 4.2% 2,506 1,453 53 1,367 67 1,00 000 3.0% 3.0% 1,053 53 500 00 3.0% 3.0% 500 00 - - 0.0% 0.0% - - 0.0% 0.0% 6M18 6M18 6M19 6M19 2Q18 2Q 18 3Q 3Q18 18 4Q 4Q18 18 1Q 1Q19 19 2Q19 2Q19 [Rest stated] d] 8

  9. EBIT IT EBIT (THB ) – 2Q19 9 EBIT (THB on) – 6M19 6M19 HB million HB million on) Share re o of f pro rofit it ( (lo loss ss) f fro rom m in inve vestmen stments in ts in a ass ssociates iates an and jo join int ve t ventu ture res Share re o of f pro rofit ( it (lo loss ss) f fro rom m in inve vestme stments in ts in a ass ssocia iates tes and jo join int ve t ventu ture res Op Opera rating p profit (l fit (loss) s) Op Oper erating p profit ( fit (los loss) s) EBIT m T mar argin in ( (%) EBIT m T mar argin in ( (%) 1,00 000 6.0% 6.0% 883 883 869 869 4.7% 5.6% 2,50 500 6.0% 6.0% 2,084 84 60 60 57 57 3.9% 4.4% 2,00 000 4.0% 4.0% 137 588 588 5.0% 5.0% 36 36 1,50 500 500 00 1.8% 4.0% 4.0% 306 306 812 2 823 3 2.0% 2.0% 1,00 000 1,947 47 27 552 2 3.0% 3. 0% 280 0 500 00 0.0% 0. 0% 192 192 37 - - 2.0% 2.0% 74 74 118 8 - - -2.0% -2.0% (434) 4) 1.0% 1.0% (50 (500) 0) -2.7% 7% 0.6% (50 (500) 0) (397) 7) -4.0% -4.0% (1, (1,000 000) 0.0% 0.0% 2Q18 2Q 18 3Q 3Q18 18 4Q 4Q18 18 1Q 1Q19 19 2Q 2Q19 19 6M18 6M18 6M19 6M19 [Rest stated] d] 9

  10. Net Pro rofit fit Net Profit ofit (THB ) – 2Q19 9 Net Profit ofit (THB ) – 6M19 6M19 B million on) B million on) Ne Net pro profi fit (l (loss ss) Net profi Net profit ma margi rgin n (% (%) Net profi Net profit (l (loss ss) Net Net profi profit ma margi rgin n (% (%) 1,50 500 5. 5.0% 0% 800 00 5.0% 5.0% 3.8% 3.0% 600 00 2.7% 3.0% 3.0% 3.0% 3.0% 1.8% 1,00 000 400 00 592 592 0.8% 502 502 200 00 1,424 24 1.0% 1.0% 1.0% 1.0% 270 270 139 139 500 00 - - -1.1% 1% -1.0% -1.0% -1.0% -1.0% (20 (200) 0) (614) 4) (40 (400) 0) - - -3.0% -3.0% -3.0% -3.0% -4.1% 1% (344) 4) (60 (600) 0) (80 (800) 0) -5.0% -5.0% (50 (500) 0) -5.0% -5.0% 2Q18 2Q 18 3Q18 3Q 18 4Q 4Q18 18 1Q 1Q19 19 2Q 2Q19 19 6M18 6M18 6M19 6M19 [Rest stated] d] 10 10

  11. 2 2 STA TA Busin siness ess Highlights ghlights 11 11

  12. STA’s Global Presence 45,000 000 rai rai (7,2 ,200 00 hectare res) s) of rubber r plant ntations ns 48 48 China procure urement nt centers rs 36 36 Thailand nd USA NR processi sing g plant nts 5 Myanm nmar Vietnam Glov oves s produc duction on facilities s in Thailand nd 7 Indonesi donesia Sing ngapore pore sales s & distribut ribution on centers rs 17 17 bn 6% share 10% share 10% 1.34 34 mill 26% 26% 546,117 46,117 tons in bn.. ..pcs. in Glove’s re of global al re of global al ll. tons in in in sales volume in FY18 glove ve consu sump mpti tion in FY18 NR’s sales volume in 6M19 NR consu sump mpti tion in FY18 NR’s sales volume in FY18 of NR producti tionin Thailan land 12 12

Recommend

More recommend