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STA STA 4Q 4Q19 19 & FY & FY19 19 An Analy lyst st - PowerPoint PPT Presentation

Jun 04, 2023 •512 likes •886 views

STA STA 4Q 4Q19 19 & FY & FY19 19 An Analy lyst st Pre Presentat sentation ion 1 CO CONTENTS TENTS 1. . Financi ancial al Pe Perfor formanc mance 2. ST STA A Bus usiness iness Highlights hlights 3. Na Natural

  1. STA STA 4Q 4Q19 19 & FY & FY19 19 An Analy lyst st Pre Presentat sentation ion 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. e SURVIVOR RVIVOR & Bein Be ing g the ning CUSTO TOMER MER CONFIDENCE FIDENCE Gaining Ga TSR20 20 Price Move vement t in SICOM ( $cent/kg. ) 160 60 140.6 .6 $cent/k /kg 136.5 $cent/ nt/kg. . ( -3.0% 0% ) 150 50 140 40 130 30 120 20 Peak NR Output ut Winte nteri ring ng Season on Jan-18 -18 b-18 Feb-18 Mar-18 18 Apr-18 Apr-18 y-18 May-18 un-18 Jul-18 ul-18 Aug-18 -18 18 p-18 Oct-18 -18 Nov-18 18 Dec-18 Jan-19 -19 Feb-19 b-19 19 Mar-19 Apr-19 Apr-19 y-19 May-19 un-19 Jul-19 ul-19 Aug-19 -19 19 p-19 -19 Oct-19 Nov-19 19 Dec-19 -20 Jan-20 Nov-1 Nov-1 Jun- Sep- Jun- Sep- Aug Aug Ma Ma Ma Ma Fe De Fe De he lowe west t D/ D/E E ratio io in the e “Rubber Processing Industry.” We hav ave e the ABBREVIAT ATIONS 4 TSR : Technically specified rubber, which includes STR and SIR

  5. SICOM COM – Oil il Pri rices ces 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 Avg. = 151.3 (+8.6%) Avg. = 134.7 (-11.0%) Avg. = 137.0 (+1.7%) Avg. = 140.0 (-4.4%) Avg. = 132.9 (-5.7%) Avg. = 126.7 (-4.6%) Avg. = 139.4 (+10.0%) Avg. = 146.5 (+1.9%) 220 200 Avg. = 140.3 ice 180 (+2.5%) M Pric (US cent : Kg.) 160 SICOM 140 RSS3 RSS3 120 TSR2 SR20 Winte nteri ring ng Season on Peak NR Output ut 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 Sep-19 t-19 Nov-19 Dec-19 Jan-20 b-20 Mar-20 Feb- Oct- Feb- Oct- Feb- Apr Nov Dec Apr Dec Ma Ma Ma Fe Ma Au Se Fe Ma Au Se No Fe 100 Avg. = 63.9 (-6.1%) Avg. = 69.0 (+7.9%) Avg. = 63.0 (+1.9% ) Avg. = 67.3 (+9.1%) Avg. = 75.0 (+11.5%) Avg. = 75.8 (+1.1%) Avg. = 68.1 (-10.1%) Avg. = 61.9 (-10.4% ) 90 90 l Prices 80 80 Avg. = 59.75 (-5.2% ) l.) 70 70 (USD : Bbl. Crude Oil 60 60 50 50 40 40 Jan-18 b-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 g-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 b-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 g-19 Sep-19 t-19 Nov-19 Dec-19 Jan-20 b-20 Mar-20 Feb- Aug- Feb- Aug- Feb- Oct- Apr Oct Nov Dec Apr Nov Dec Ma Ma Ma Ma Ma Fe Au Se Fe Au Se Fe ABBREVIAT ATIONS 5 RSS : Ribbed smoked sheet LTX: Concentrated Latex TSR : Technically specified rubber, which includes STR and SIR

  6. Latex La ex – Butadiene diene – Acry rylonitri lonitrile le - Fore rex 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 4Q19 Avg. = 112.7 ( -1.6% ) Avg. = 118.6 ( +13.5% ) Avg. = 114.5 ( -29.4% ) Avg. = 101.0 ( -14.9% ) Avg. = 110.5 ( -10.1% ) Avg. = 138.1 ( +24.9% ) Avg. = 162.2 ( +17.5% ) Avg. = 104.6 ( -7.2% ) 152.5 ( -15.2% ) 139.0 ( -35.0% ) 179.5 ( -0.6% ) 193.0 ( +7.5% ) 179.8 ( -15.5% ) 146.3 ( -9.3% ) 212.8 ( +18.5% ) 214.0 ( +40.3% ) 240 240 99.2 ( -3.0% ) 112.7 ( +14.7% ) 111.6 ( -13.1% ) 105.0 ( -5.9% ) 117.7 ( +6.1% ) 113.8 ( -3.4% ) 102.3 ( -13.3% ) 128.4 ( +14.0% ) Avg. = 90.5 ( -10.4% ) ACN 200 200 97.2 ( -33.6% ) Price (US cent : Kg.) LTX & BD & A 109.2 ( +4.0% ) 160 160 120 120 80 80 BD-China BD AC ACN LT LTX 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 Sep-19 t-19 Nov-19 Dec-19 Jan-20 b-20 Mar-20 Feb- Oct- Feb- Oct- Feb- Apr Nov Apr Nov Dec Ma Ma Ma Fe Ma Au Se De Fe Ma Au Se Fe Avg. = 31.44 (-3.7%) Avg. = 31.45 (+0.02%) Avg. = 30.60 (-2.7%) Avg. = 30.28 (-1.0%) Avg. = 31.39 (-4.3%) Avg. = 31.72 (+1.1%) Avg. = 31.81 (+3.4%) Avg. = 32.64 (+2.6%) 34 34 Avg. = 30.89 33 33 (+2.0%) Currency ncy 32 32 31 31 30 30 USD/T USD/THB 29 29 Jan-18 Feb-18 Mar-18 Apr-18 18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 18 t-18 Nov-18 Dec-18 Jan-19 b-19 Mar-19 19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 19 Sep-19 t-19 Nov-19 Dec-19 Jan-20 b-20 Mar-20 Oct- Feb- Oct- Feb- Sep Nov Dec Sep Nov Dec Ma Ap Ma Ap Ma Ma Au Fe Ma Au Fe 6 ABBREVIATIONS LTX: Concentrated Latex BD: Butadiene ACN: Acrylonitrile SEA: South East Asia

  7. Fin inancial ancial Hi High ghlight light FY18 4Q18 (Unit : THB million) FY19 %YoY 4Q19 3Q19 %QoQ %YoY [Restated] [Restated] 60,286 73,136 -17.6% 14,881 15,384 -3.3% 16,937 -12.1% Revenue Sales volume (tons) 1,103,934 1,330,849 -17.1% 285,594 272,223 4.9% 314,176 -9.1% Avg. selling price (Baht per ton) 43,520 45,979 -5.3% 41,404 41,404 0.0% 46,772 -11.5% Gross profit 4,854 7,161 -32.2% 1,379 970 42.2% 1,490 -7.5% 4,635 8,307 -44.2% 1,307 1,402 -6.7% 1,651 -20.8% Adj. gross profit* SG&A (4,571) (5,259) -19.3% (1,205) (1,081) 11.4% (1,355) -11.1% 569 (252) N/A 186 107 74.5% 40 361.6% Gains (loss) on exchange rate, net (478) 1,203 N/A (271) 308 N/A 156 N/A Other gains, net Operating profit (loss) 656 3,088 -78.8% 185 352 -83.4% 297 -37.6% 132 224 -40.8% 37 22 66.9% 27 38.5% Share of profit (loss) from investments in JV EBITDA 3,274 5,716 -42.7% 858 998 -14.0% 1,053 -18.5% 788 3,312 -76.2% 222 374 -40.7% 240 -7.4% EBIT (856) (906) -5.5% (188) (204) -7.7% (223) -15.6% Finance costs, net Net profit (149) 2,064 N/A 74 135 -45.2% 139 -46.8% GP margin 8.1% 9.8% -173.97 9.3% 6.3% 296.15 8.8% 46.53 Adj. GP margin* 7.7% 11.4% -366.99 8.8% 9.1% -32.58 9.7% -96.27 1.1% 4.2% 1.2% 2.3% 1.8% Operating profit margin -313.51 -104.43 -50.73 1.1% 4.2% 1.2% 2.3% 1.8% EBITDA margin -313.51 -104.43 -50.73 -0.2% 2.8% 0.5% 0.9% 0.8% Net profit margin -306.90 -38.08 -32.37 7 * Adjusting for (reversal) allowance of inventory and realized gains /(losses) from hedging activities

  8. Sale les s Reve venue nue Sales s Revenue by Prod oduct (THB Sales s Revenue ue by Geography hy HB million) 8

  9. Gross Gr ss Pro rofit fit Gross s Profit ofit (THB Gross ss Profi fit t – Adjuste sted d (THB B million on) B million on) ) [Rest stated] d] [Rest stated] d] [Rest stated] d] [Rest stated] d] 9

  10. EBIT IT EBIT (THB EBIT (THB HB million on) HB million on) EBIT [Rest stated] d] [Rest stated] d] 10 10

  11. Net Pro rofit fit Net Profit ofit (THB Net Profit ofit (THB B million on) ) B million on) [Rest stated] d] [Rest stated] d] 11 11

  12. 2 2 STA TA Busin siness ess Highlights ghlights 12 12

  13. About ut STA TA: The World’s Leading Fully Integrated Natural Rubber Company Establish shed d in 1987 987 Rub ubber ber Plant ntatio ations Rub ubber ber Proc oces essin sing Rub ubber ber Gloves oves 36 36 3 45,000 000 rai NR proc ocessi sing ng plant nts s in Thaila land nd, rai locations ns of glove ve factori ories in Tha hailand nd Indo donesi sia and Myanma nmar 2. 2.9 27 27 million on ton ons in prod oduction tion capacity ty billion pieces of gloves in production (7,2 ,200 00 hectare res) s) of rubber r plant ntations ns per year capacity per year 19.9 19 .9 billion pieces of gloves sold in 2019 1.1 million 1. on ton ons sold d in 2019 7% 7% 46 46 8% 8% market share re of global obal glove ves market share re of global obal natura ural rubbe ubber r consump nsumption on in 2019 consump nsumption on in 2019 procure urement nt centers rs > 3, 3,00 000 STA’s Global Rubber r farmers rs and dealers rs Prese sence nce s of STA Friend iend being ng members Thailand nd USA Myanm nmar Indonesi donesia Sing ngapore pore China na mobile application on 13 13

  14. Upst stre ream am Opera ration tions s – Rubb bber r Pla lant ntation ations Area of Rubbe ber r Plantati ntations s ( 2020F 020F ) Infra rastru structu cture re 13% 13% Approx prox. Tapping ng Area Imma mature ure NR Area 45,000 rai 20% 20% 65% 65% 7,200 HA Other Cr Crops ps 2% Esti timate ted d Matu ture re Plantations ntations 19 19 Prod oducti ction on (ton tons) Tap apping ng, trees trees ( (RHS) HS) 14 14,00 000 2,50 2, 500, 0,00 000 Provin inces es in Thailand 12 12,00 000 2,00 2, 000,00 0,000 Lampang Phrae 10 10,00 000 Sukothai Kalasin Pichit Phayao 1, 1,50 500, 0,00 000 8,00 8, 000 Phitsanulok ok Nan Petchaboon Songkhla 6,00 6, 000 ~ 1,400 Tons 1, 1,00 000, 0,00 000 Chiang Rai Surat Thani 4, 4,00 000 Chiang Mai Krabi 500, 50 0,00 000 Sakon onNakhor orn Chumporn 2,00 2, 000 Utaradit Bungkan 0 0 Sakaeo Incre rease se number er of tapping area from 1,50 500 rai in 2020F 2021F 2022F 2023F 2024F 2025F 2026F 2027F 2017 2018 2019 2018 018 to 4,400 ,400 rai in 2019 019 [+193 193%] %] Note: The green provinces are where our factories located in. 14 14 Note: Information as of 31 December 2019

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