sta sta
play

STA STA 1Q 1Q19 19 An Analyst lyst Pre Presentation entation - PowerPoint PPT Presentation

Oct 01, 2023 •476 likes •794 views

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

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

  2. CO CONTENTS TENTS 1. Financi ancial al Pe Perfor formance mance 2. ST STA Bu A Business iness Highlights hlights 3. Na Natural ural Rub ubber ber Market rket Si Situati uation on 2

  3. 1 1 FIN INANCIAL ANCIAL PER ERFORMAN FORMANCE 3

  4. SICOM COM – Oil il Pri rices ces 1Q18 2Q18 3Q18 4Q18 1Q19 Avg. = 140.0 (-4.4%) Avg. = 132.9 (-5.7%) Avg. = 126.7 (-4.6%) Avg. = 146.5 (+1.9%) Avg. = 139.4 (+10.0%) 200 180 (US cent : Kg.) 160 ce COM Price 149 143 140 133 SICO RSS RSS 120 125 TSR SR 121 100 Jan-18 b-18 Mar-18 18 Apr-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 Feb- Oct- Feb- Sep Nov Dec Ma Ap Ma Ap Fe Ma Au Fe 100 Avg. = 67.3 (+9.1%) Avg. = 75.8 (+1.1%) Avg. = 68.1 (-10.1%) Avg. = 63.9 (-6.1%) Avg. = 75.0 (+11.5%) 90 90 l Prices 80 80 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 Aug-18 Sep-18 t-18 Nov-18 Dec-18 Jan-19 b-19 Mar-19 Apr-19 Feb- Oct- Feb- Apr Nov Dec Apr Ma Ma Ma Fe Au Se Fe ABBREVIAT ATIONS RSS : Ribbed smoked sheet 4 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 1 Q19 19 Avg. = 159.7 ( +15.4% ) Avg. = 159.0 ( +18.6% ) Avg. = 138.3 ( +24.7% ) Avg. = 109.8 ( -30.9% ) Avg. = 107.5 ( -2.1% ) 113.8 ( -3.4% ) 102.3 ( -13.3% ) 117.7 ( +6.1% ) 99.2 ( -3.0% ) 113.4 ( +14.2% ) 240 240 193.0 ( +7.5% ) 212.8 ( +18.5% ) 179.5 ( -0.6% ) 179.8 ( -15.5% ) 152.5 ( -15.2% ) ACN 200 200 LTX & BD & A Price (US cent : Kg.) 160 160 120 120 80 80 BD- BD-SEA SEA* BD- BD-Ch China ACN 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 Feb- Oct- Feb- Apr Nov Dec Apr Ma Ma Ma Fe Au Se Fe Avg. = 31.81 (+3.4%) Avg. = 32.64 (+2.6%) Avg. = 31.72 (+1.1%) Avg. = 31.64 (-3.7%) 34 34 Avg. = 31.39 (-4.3%) 33 33 /THB USD/THB 32 32 31 31 30 30 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 Feb- Oct- Feb- Apr Nov Dec Apr Ma Ma Fe Ma Au Se Fe ABBREVIATIONS 5 RSS : Ribbed smoked sheet TSR : Technically specified rubber, which includes STR and SIR

  6. Fin inancial ancial Hi High ghlight light (Unit : THB million) 1Q19 1Q18 %YoY 4Q18 %QoQ FY18 Revenue 15,248.0 17,689.1 -13.8% 17,189.6 -11.3% 73,492.8 Sales volume (tons) 289,984 321,698 -9.9% 317,876 -8.8% 1,336,649 Avg. selling price (Baht per ton) 41,175 46,772 -12.0% 43,530 -5.4% 45,907 Gross profit 1,009.9 1,510.4 -33.1% 1,366.7 -26.1% 7,107.5 Adj. gross profit* 578.0 1,999.9 -71.1% 1,622.4 -64.4% 8,254.2 SG&A (1,150.8) (1,227.3) -6.2% (1,350.5) -14.8% (5,247.9) Gains (loss) on exchange rate, net 110.8 254.8 -56.5% 40.3 174.8% (252.2) Other gains, net (448.7) 501.4 N/A 156.0 N/A 1,203.3 Operating profit (loss) (449.2) 1,135.2 -139.6% 279.8 N/A 3,050.2 Share of profit (loss) from investments in JV 37.2 80.1 -53.6% 26.5 40.3% 223.7 EBITDA 164.4 1,762.5 -90.7% 993.5 -83.5% 5,657.4 EBIT (412.0) 1,215.3 N/A 306.3 N/A 3,273.9 Finance costs (227.7) (236.7) -3.8% (225.5) 1.0% (887.0) Net profit (627.7) 831.8 N/A 139.1 N/A 2,064.4 GP margin 6.6% 8.5% -191.56 8.0% -132.74 9.7% Adj. GP margin* 3.8% 12.4% -862.30 9.4% -564.78 11.2% Operating profit margin -2.9% 6.4% -936.35 1.6% -457.40 4.2% EBITDA margin 1.1% 10.0% -888.59 5.8% -470.18 7.7% Net profit margin -4.1% 4.7% -881.89 0.8% -492.54 2.8% 6 * Adjusting for (reversal) allowance of inventory and realized gains /(losses) from hedging activities

  7. Sale les s Reve venue nue Sales s Revenue by Prod oduct (THB Sales s Revenue by Geography hy HB million on) -13. 3.8% 1% 2% 2% 2% 2% 19,755 -11. 1.3% 8% 7% 8% 18,859 9% 9% 60 17,689 91 17,190 2,857 30 3,128 1% 164 24% 25% 2,613 795 15,248 23% 27% 19% 1% 3,189 30% 1,749 264 1,504 1,184 Others 20% 7% 3,044 1,722 1,055 1,885 9% 1,459 6% Europe 950 Others 11% 1,615 USA 40% Gloves 44% 45% 38% 32% 14,293 LTX Asia (Exculding 12,414 11,978 China&Thailand) 11,323 RSS 9,375 66% 62% China TSR 18% 17% 16% 14% 14% Domestic 1Q18 2Q18 3Q18 4Q18 1Q19 1Q18 2Q18 3Q18 4Q18 1Q19 7

  8. Gr Gross ss Pro rofit fit Gross s Profit ofit (THB Gross s Profit ofit – Adj.* .* (THB B million on) B million on) ) 2,500 15.0% 3,000 15.0% 13.3% 2,500 11.3% 11.4% 2,000 12.0% 12.0% 10.6% 10.4% 2,000 9.4% 8.5% 1,500 9.0% 9.0% 8.0% 1,500 2,261 6.6% 2,631 1,000 6.0% 6.0% 1,970 1,000 2,000 2,001 1,510 1,367 1,622 3.8% 500 1,010 3.0% 3.0% 500 578 - 0.0% - 0.0% 1Q18 2Q18 3Q18 4Q18 1Q19 1Q18 2Q18 3Q18 4Q18 1Q19 Note: * Adjusting for (reversal) allowance of inventory cost and realised items from hedging activities 8

  9. 9

  10. 2 2 STA TA Busin siness ess Highlights ghlights 10

  11. STA’s Global Presence 45,000 000 rai rai (7,5 ,500 00 hectare res) s) of rubber r plant ntations ns 48 48 China na procure urement nt centers rs 36 36 Thailand nd USA NR processi sing g plant nts 5 Myanm nmar Vietna nam Glov oves s produc duction on facilities s in Thailand nd 7 Indone donesi sia Sing ngapore pore sales s & distribut ribution on centers rs 16,937 6,937 m.pcs.in 6% share 10% 0% share 289,984 9,984 tons 1.34 1. 34 mill 26% 6% in NR’s e of global al s in in ll. tons s in re of global al Glove’s sales volume in FY18 NR’s sales volume in FY18 sales volume ume in FY18 NR consu sump mpti tion in FY18 glove ve consu sumpti mption in FY18 of NR producti ctionin Thailan land 11

  12. Upst stre ream am Opera ration tions s – Rubbe ber r Plant ntations tions Area a of Rubber ber Plantati antations Thoen1, Immature ure Area Tapping ng Area Lampang ng 77% 77% Approx. 10% 10% 45,000 rai 7,500 HA Infr fras astru tructu cture 13% 13% Esti tima mate ted d Matu ture re Plantations antations 19 19 Watbo tbot, , Producti Pro ction, ton tons ( (LHS) HS) Tap apping, tre trees es ( (RHS) HS) Phitsanul sanulok ok 14,00 14 000 2,50 2, 500, 0,00 000 Provin inces es in Thailand 12,00 12 000 2,00 2, 000,00 0,000 Lampang Phrae 10 10,00 000 Sukothai Kalasin Pichit Phayao 1,50 1, 500, 0,00 000 8, 8,00 000 Phitsanulok Nan Petchaboon Songkhla 6, 6,00 000 1,00 1, 000, 0,00 000 Mae Khao Chiang Rai Surat Thani 4,00 4, 000 Chiang Mai Krabi Tom, 50 500, 0,00 000 Sakon Nakhorn Chumporn 2,00 2, 000 Utaradit Bungkan Chiang ng Rai 0 0 Sakaeo 19F 20F 21F 22F 23F 24F 25F 26F 27F 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 Note: The green provinces are where our factories located in. 20 20 20 20 20 20 20 20 20 Note: Information as of 31 March 2019 12

  13. 13

  14. STA’s Ti Tire re Manuf nufact acturer urer Cu Cust stomers mers 14

  15. Do Downs wnstream tream Operation erations s – Fi Finish nished ed Pro roducts ucts 17 17 21.2 21.2 Expo porting rting The Th 6% 6% Sinc nce to to world’s 12 120+ 0+ billion lion piece ces 1989 1989 billion lion piece ces of 5 th th per annum m in gloves es sold in Global obal Market et product uction ion 2018 2018 Coun untrie ries Share Largest st capac acity ity [Information as at 1 April 2019] 15

  16. STA’s Gloves Products Product duct Mix x by Volume lume Product oduct Range Examin inat ation ion/ 12% 12% 15% 15% 33% 33% 39% 39% Non-Examin Examinat ation ion Gloves Ni Nitri rile le Own n Brand nds 88% 88% 85% 85% Latex ex Nitrile ile 67% 67% Latex 61% 61% OEM EM Powder wder-Fr Free ee Powder wder-Free Free Powdere wdered FY18 FY18 1Q19 FY18 FY18 1Q19 - Comfort fort 5.0 g - Comfort fort 4.8 g - Heavy 6.2 g - Balance ce Comfo fort rt 5.5 g - Balance ce 5.0 g - Balance ce4.8 g - Balanced ced Plus 5.6 g - Premi mium m 5.8 g - Comfort ort 3.5 g - Balance ce5.8 g - Comfort ort Plus 3.0 g - Premi mium m 6.2 g Informati tion as at 31 March 2019 [3-month th period] d] 16

  17. STA’s Glove Markets by by Vo Volu lume me Widely ely Used ed in Develo veloped ped Markets rkets, , Gaining ing Groun und d in Emergin rging g Marke rkets ts Encourag courage e America ica 24% 24% EU EU Japan a wide var a ariety ety of appl plications cations 6% 30% 30% China 7% 7% Indi dia Lifesty festyle RoW Thailan land 6% 6% 8% 11% 11% Foods ds Industry ustry ASEAN** AN** Asia* a* 3% 3% 5% Medic ical al Industr ustry Note te: *Asia excluding Thailand, China, Japan and India Informati tion on as at 31 March 2019 [3-month th period od] **ASEAN excluding Thailand 17

Recommend

More recommend