The Bangchak Petroleum Plc. Opportunity Day for Y2010 performance - PowerPoint PPT Presentation

The Bangchak Petroleum Plc. Opportunity Day for Y2010 performance • March 7, 2011  Mr. Vichien Usanachote SEVP-Refinery Business  Mr. Surachai Kositsareewong EVP-Accounting &Finance

Contents BCP Achievements in 2010 BCP Performance in 2010 BCP on the move in 2011

Ref efining ning Highl hlight ight 2010 Product Yield Crude Run KBD 90 3% 1% LPG 85 86.0 17% 22% 11% MOGAS 80 14% 79.2 JET Natural Gas 75 35% DIESEL 50% 70 FUEL OIL 34% 65 13% 60 Y2009 Y2010 Y2009 Y2010 Cogeneration Power Plant Crude Selection Far East Advantages of using local crude 39%  Low Sulfur Local Crude  Low Transportation Cost 61%  Minimum Inventory day EURO IV Project 3

GRM Perfor orma mance nce 2010 Y2009 Y2010 Accounting GIM ($/BBL) 5.63 3.98 Total GRM Contribution MKM Base GRM ($/BBL) 8.24 $/Bbl 1 2 5.62 2.15 0.03 GRM Hedging ($/BBL) 6.09 1 2 Y2010 2 3.16 0.43 Inventory G (L) ($/BBL) Better Margin Year 1 2  Crude Run increased  Less production of Fuel Oil and higher production in diesel. 2.75 2.63 +5% MKM ($/BBL)  Better products crack spread 1 2 4

Mark Ma rketing ting Highl hlight ight 2010 Retail Market Share moved up to 3 rd rank 2010 ML/MO Mkt Share 300 Stations 1 PTT 508.0 37.0% 2 ESSO 239.8 17.4% 5 Stations 139 Stations BCP 3 189.4 13.8% 2 Stations SHELL 179.9 13.1% 4 CALTEX 91.4 6.7% OTHERS 166.0 12.1% 2009 2010 2009 2010 1,374.5 Sales Vol. Growth in 2010 Sales Vol. (ML/MO) 14.0% 12.4% BCP Industry 12.0% +12.4% 10.0% 8.0% 6.8% JET 6.0% 63.6 4.0% 2.4% 2.0% 56.6 0.0% -2.0% -1.0% 2009 2010 MOGAS JET 5

Lub ube: e: Growing wing Export Mark rket t Sales Vol. (ML/MO) +19.2% Lube 1.74 China 1.46 2009 2010 Sales Vol. Growth in 2010 Cambodia 21.0% 19.3% 18.0% BCP Industry 15.0% 12.0% 9.0% 6.9% 6.0% 3.0% Burma 0.0% 6

Ma Mark rketin ting g Rebr bran anding ding Standard station 70 stations were rebranded Co-Op 139 stations were rebranded 7

Inthanin thanin Coffee ee Inthanin Premio @ CTW Inthanin @ Faculty of Architecture and Planning, TU Inthanin @ Faculty of Engineering, CU Inthanin @ Faculty of Science, CU 8

Ba Bangch chak ak Bi Bio Fuel el Revenue : 2,474 MB EBITDA : 341 MB Net Profit : 252 MB Yield 2010 Utilization 2010 % Utilization % Yield 120 100 108.6 99.2 99.2 99.1 99 102 98.8 98.5 98.8 99 100 98.4 90.6 85.4 84.4 97.8 97.8 77.8 98 75.7 97.4 80 63.3 97 57 53.3 60 96 43.3 95.3 38.2 AVG 98.3% 40 95 20 AVG 73.3% 94 93 0 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 9

Sola lar r Far arm m : Ph Phas ase e I Phase I : 38 MW  Project Cost ~ 4,200 MTHB  Work Progress 30%  COD : Q4/2011  Expected EBITDA +700 MTHB/Year 10

Other ther Events ts & Activ & Activit ities ies in 2010 TRIS Rating Awards The Asset Corporate Readers Digest Platt's Global Energy Trusted Brand 2010 Titanium Award Awards  Top CG Awards Thailand Quality Class  Best CSR Awards 11

BCP Performance in 2010

Profit it and d Loss Hig ighlig ights ts 2010 4Q10 2010 2009 Unit : Million Baht Sale Revenue 35,661 134,638 107,678 EBITDA 1,988 5,827 12,244 Refinery business 1,767 4,466 10,839 Marketing business 221 1,361 1,405 Depreciation & Amortization (510) (1,820) (999) Other FX and Impairment 172 495 (93) Financial Cost (221) (862) (512) Pre-tax Profit 1,429 3,640 10,640 Tax (439) (992) (3,165) Net Profit 990 2,648 7,475 EPS 0.85 2.26 6.53 13

Ref efine nery y BU BU Per erformance ormance 4Q10 2010 2009 M.Baht $/BBL M.Baht $/BBL M.Baht $/BBL Base GRM 1,581 6.40 5,631 5.63 4,016 3.98 GRM Hedging -189 -0.77 28 0.03 5,631 5.62 Inventory Gain/(Loss) 662 2.68 434 0.43 2,221 2.22 Write Down (LCM) - - - - 942 0.94 Total GRM 2,054 8.32 6,093 6.09 12,810 12.76 Other Income 421 1.70 544 0.54 49 0.05 Operating Expenses (708) (2.87) (2,171) (2.17) (2,020) (2.02) EBITDA 1,767 7.15 4,466 4.46 10,839 10.79 Key factors Crude Run (KBD) 89.1 86.0 79.2 ฿ Exchange rate ( ฿ /$) 30.1 31.9 34.6 DB ($/Bbl) 84.3 78.0 61.8 14

Ma Mark rketin ting g BU BU perfor ormance mance 4Q10 2010 2009 ฿ /L ฿ /L ฿ /L M.Baht M.Baht M.Baht Net Retail Margin 468 0.77 1,851 0.77 1,840 0.79 Net Industrial Margin 96 0.25 297 0.20 176 0.15 Total MKM 564 0.57 2,148 0.55 2,016 0.57 2.98 $/bbl 2.75 $/bbl 2.63 $/bbl Other Income 206 0.21 833 0.21 860 0.24 Operating Expenses (549) (0.55) (1,620) (0.42) (1,471) (0.42) EBITDA 221 0.22 1,361 0.35 1,405 0.39 Sale Volume (ML/Mo) 333 324 295 o Retail 203 201 195 o Industrial 129 123 100 15

Financial ancial Position tion 2010 Unit : Million Baht Assets Dec 31, 2010 Dec 31, 2009 Liabilities Dec 31, 2010 Dec 31, 2009 Cash 8,504 1,711 Short Term Loan + Due 1 Yr 2,587 1,687 Trade Accounts Receivable 6,314 5,501 Trade Accounts Payable 10,094 6,023 Inventories 14,588 13,625 Other Current Liabilities 4,498 4,911 Other Current Assets 2,104 1,943 Long Term Loan 16,441 13,568 Current Assets 31,510 22,780 Other Non current Liabilities 869 880 Total Liabilities 34,489 27,069 Shareholders' Equity Investment in Subsidiary 198 198 Common Share 1,177 1,170 PPE 27,073 27,711 Premium on Share Capital 8,462 8,369 Leasehold Right 954 1,025 Revalue Asset 4,108 4,477 Other Non-Current Assets 1,445 1,187 Retain Earning 12,944 11,816 Total Equity 26,691 25,832 Total Assets 61,180 52,901 Total Liabilities & Equity 61,180 52,901 16

Financial ancial Me Meas asurem rement ent 2010 PROFIT RETURN RATIO (For 2010) 21% - Oil price increased Net Profit Margin % 1.97 Revenue Growth 25% Earning per Share Baht 2.26 4% - Sales volume increased Return on Equity-ROE % 10.09 Return on Assets-ROA % 4.64 Net Profit Total EBITDA 2,889 MB 6,165 MB FINANCIAL POSITION RATIO (As at 31 Dec 10) 6% 9% Current Ratio times 1.83 Biodiesel (B100) 22% 21% AR Day days 16.1 Marketing & service station DSCR* (net CAPEX) times 2.29 D/E Ratio times 0.71 Refinery business 72% 70% Net debt to EBITDA* times 1.95 Book Value per Share (BV) Baht 22.68 *EBITDA excluded inventory effect for 12 months backward EBITDA NET PROFIT 17

Bang ngchak chak Bio Fue uel l Per erform ormance ance 2010 Profit & Loss Unit : MB 1Q 2Q 3Q 4Q FY % SALE 529 523 586 836 2,474 100% COGS (455) (454) (497) (663) (2,069) -83.6% 73 69 89 174 405 16.4% GROSS PROFIT MARGIN OPEX (14) (15) (16) (19) (64) -2.6% Balance Sheet EBITDA 59 54 73 155 341 13.8% DEPRE (11) (11) (12) (11) (45) -1.8% INTEREST (9) (9) (9) (8) (36) -1.5% 115 166 Corporate Tax (6) -0.2% 186 231 NET PROFIT 38 33 52 129 252 10.2% 255 475 Accounted for approx. 9% of BCP group 149 817 545 18

Refinery Performance 2010

Performance mance 2010 Refinery Business Plan Performance 2010 Global Oil Market Oil Market Outlook 2011 GRM Increase Utilization Rate $/BBL 5.63 KBD 86 3.98 79 2009 2010 Domestic and Export Sale Volume KBD 96 92 Export 17 M.7 22 1 11 1 PTT 8 Own Market 67 2009 2010 61 2009 2010 20

Run n High Ma Margin Feedst edstock ck Refinery Business Plan Performance 2010 Global Oil Market Oil Market Outlook 2011 Onshore Onshore Other Import Other Import 7.8 7.6 9.3 9.9 Offshore Offshore 9.0 New/Opportunity Crude 10.1 New/Opportunity Crude 4.1 3.5 21

Gas as Oi Oil EU l EURO O IV Refinery Business Plan Performance 2010 Global Oil Market Oil Market Outlook 2011 Gas Oil EURO IV Incentives 2010 2011 2012 ++ EURO IV becomes fully effective from 1 Jan 2012 EURO IV Incentive 24 st./L 2011: GAS OIL @ 210 ML/Month @ 190 ML/Month ~ 605 M Baht/Year ~ 550 M Baht/Year 22

En Energy ergy Saving Refinery Business Plan Performance 2010 Global Oil Market Oil Market Outlook 2011 NG Usage for Cogeneration and Plant Fuel After Before Electricity 2.9 Electricity 5.9 MW MW MEA MEA Stream 53.8 T/hr. + Electricity 5.7 MW Boiler & Fuel oil, Boiler & Fuel oil, Fuel Gas T/G Fuel Gas T/G Stream 150 T/hr. + Electricity 17.3 MW Cogeneration Fuel oil, Plant Fuel LPG NG (PTT) Stream 46.7 T/hr. + Electricity 14.6 MW  Total Saving Cost: 380 M Baht NG Plant Fuel  Security in power supply  Lower emission 23 T/G : Turbine Gas

Global Oil Market

Pr Prices ces Mo Movement ment Refinery Business Plan Performance 2010 Global Oil Market Oil Market Outlook 2011 120 WTI • Winter demand Brent 110 • 2Q10 earnings • Weak US dollar on • QE2 Dubai beat analyst speculation of QE2 100 estimation appealed commodities such as oil 90 80 • Arab states unrest 70 60 • Concern over 50 • Greece debt concerns • China’s decelerated economy U.S. economic 40 recovery 30 J F M A M J J A S O N D J F M A M J J A S O N D J F M A 2009 2010 2011 25