Analyst Conference Analyst Conference Q1/2012 April 24, 2012 1.
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Transcript of Analyst Conference Analyst Conference Q1/2012 April 24, 2012 1.
Analyst Analyst
ConferenceConferenceQ1/2012
April 24 , 2012
1
22
Agenda
Q1/2012 Situation
Consolidated Financial Results
PVC Outlook Q2/2012
33
I. Q1/2012 Situation
44
Q1/2012 Market Highlights
PVC demand in Thailand improved due to seasonal demand and
recovery from severe floods.
PVC supply remains limited from weak domestic demand in
China, shortage of VCM supply in S.E. Asia and Japan, very low
level of A-PVC operating rate. However, A-PVC have start to
emerge in the market in late quarter due to attractive of higher
PVC price.
PVC price improved due to cost-push resulting from rising
energy, Ethylene and VCM.
55
Vinyls Market and Price Movement
- 5 -
PVC-EDC 407 423 483 481 466 437 467 516 637 626 591 658Gap (US$/MT)
PVC-EL (23) (147) (203) (300) (95) (10) (65) (213) (115) (62) (140) (297) Gap (US$/MT)
PVC Price 719 883 853 966 993 893 983 1,025 1,176 1,098 920 954
US$/MT
PVC
EDC
Ethylene
Q2 ’09 Q3 Q4 Q1’10 Q2 Q3 Q4 Q1’11 Q2 Q3 Q4 Q1’12
VCM
66
-
50,000
100,000
150,000
200,000
Q1/11 Q2/11 Q3/11 Q4/11 Q1/12
Domestic Export Regional Sales
-
100
200
PVC Resin Sales Volume
Regional Sales = Vietnam & Indonesia
MT
1% Q-o-Q
6% Y-o-Y
KMT YTD
185
6 % Y-o-Y
43%
30%
27%
27%
30%
43%
185
28%
31%
41%
15626
%
36%
38%
174
27%
36%
37%
171
….. increased 1% Q-o-Q while decreased 6% Y-o-Y mainly from the recession of global economic…………
173
45%
28%
27%
173
45%
28%
27%
77
-
200,000
400,000
600,000
800,000
Domestic Export Regional Sales
745697
36%
38%
26%
35%
37%
28%
MT
713
PVC Resin Sales Volume
29%
34%
37%
685
40%
33%
27%
(3 Months)
173
88
II. Consolidated Financial Results
(Preliminary & Unaudited)
99
7,935 7,9008,300
6,790
7,561
0
2,000
4,000
6,000
8,000
10,000
Q1'11 Q2'11 Q3'11 Q4'11 Q1'12
Consolidated Revenue from Sales
Million Baht
Million Baht
5 % Y-o-Y
YTD
5 % Y-o-Y
..
11 % Q-o-Q
…….Up 11% Q-o-Q from higher selling price while down 5% Y-o-Y mainly from the economic slowdown………….
7,9357,561
0
5,000
10,000
1010
Consolidated Revenue from Sales
Million Baht
31,588
24,622
29,22930,924
7,561
0
10,000
20,000
30,000
40,000
(3 Months)
1111
Million Baht
YTDMillion Baht
191% Q-o-Q
14% Y-o-Y
14% Y-o-Y
Consolidated EBITDA
…. increased 191% Q-o-Q and 14% Y-o-Y mainly from the better performance……
1,037
1,187
0
500
1,000
1,500
1,037
1,226
908
408
1,187
0
500
1,000
1,500
Q1'11 Q2'11 Q3'11 Q4'11 Q1'12
1212
3,648
3,247
1,187
0
1,000
2,000
3,000
4,000
Million Baht
Consolidated EBITDA
(3 Months)
1313
-100
100
300
500
700
Q1/11 Q2/11 Q3/11 Q4/11 Q1/12
TPC Sub Asso
-
500
1,000
Million Baht
Million Baht
1,118 % Q-o-Q
47 % Y-o-Y
YTD
Consolidated Net Profit
…… increased 1,118% Q-o-Q and 47% Y-o-Y due to the higher gap between selling price and main raw material price…………
513
766
54%
38%
513
38%
54%
755
62%
36%47 % Y-o-Y
37%
60%
539
35%
60%
148%
62
755
36%
62%
1414
-
500
1,000
1,500
2,000
2,500
3,000
TPC Sub Asso
Million Baht
Consolidated Net Profit
755
2,210
1,866 1,866
83%92%
55%
72%
40%
8%
36%
35%
59%
1,880
55%
40%
62%
(3 Months)
1515
III. Outlook Q2/2012
1616
Q2/2012 Outlook
Thailand’s demand may be slow because of rainy season and
Songkran holidays.
PVC supply is still limited from continued shortage of VCM
supply and weak domestic demand in China.
PVC price is expected to improve due to cost-push due to
continued rising in energy, Ethylene and VCM price.
1717
Thank you