Tipco Asphalt Public Company Limited - dcs- · PDF file• Kemaman Bitumen Company Sdn. Bhd. ... Works, Ministry of Industry celebrated ... domestic market, subsidiaries in Malaysia

บริษทั ทิปโกแ้อสฟัลท ์จ ำกดั (มหำชน) Tipco Asphalt Public Company Limited


18th March 2013

Tipco Asphalt Public Company Limited

Introduction to Tipco Asphalt Group

บริษทั ทิปโกแ้อสฟัลท ์จ ำกดั (มหำชน) Tipco Asphalt Public Company Limited 2

Agenda

Who we are

Milestones

Major Shareholders

Strategic Partner

Tipco Asphalt Group’s Network

Products & Projects References

2012 Performance Highlights

2013 Outlook

Going Forward


Who we are : Milestone

1998 1995 1991 1981 1979 1993

Supsakorn Family established Tipco Emulsion Company Limited

First Tipco Emulsion Plant was launched in Ladkrabang Industrial Estate

Tipco Asphalt was listed on Stock Exchange of Thailand under symbol “TASCO”

Partnership with Colas S.A. in Raycol Asphalt

• First Tipco Asphalt terminal was set up in Prapadaeng

• Marine Group was established to import and export of asphalt products

• Tipco Asphalt was the first asphalt emulsion manufacturer in Thailand to receive ISO 9002 certification

Lang Fang Tongtai Road Material Co., Ltd. was the Company’s first investment in China


Who we are : Milestone

1999 2000 2012 2010 2008 2007

Cambodia Asphalt Co., Ltd. started its operations (now known as Tipco Asphalt (Cambodia) Co., Ltd.)

Colas S.A. became Tipco Asphalt’s strategic and major shareholder

Tipco Asphalt introduced the first colored asphalt in Thailand

• Kemaman Bitumen Company Sdn. Bhd. (Tipco Asphalt Refinery) started commercial production

• Tipco Asphalt became one of first 28 Thai companies that was certified with the CSR-DIW by Department of Industrial Works, Ministry of Industry

Tipco Asphalt celebrated highest sales record surpassing 1 million tons.

Historical high sales volume of 1.33 million tons

2002

Tipco Asphalt plants were certified by ISO 14001 and ISO 18001


Tipco Foods PCL (24%) Colas S.A. (32%) Supsakorn Family (6%) Free Float (38%)

Tipco Asphalt Public Company Limited

Thai Bitumen Raycol Asphalt Marine Group

TASCO International (Hong Kong) Co., Ltd

TIPCO Asphalt (Cambodia)

100%

51% 51% 100%

Who we are : Shareholders & Group Structure

99.9% 99.9% 41.4%

Lang Fang Tong Tai

100%

Zhenjiang Tipco Asphalt

Tipco Asphalt (Xinhui)


• A leading company in construction and maintenance of transport infrastructure with workforce of more than 66,500 people

• Colas undertakes about 100,000 projects every year via a network of 800 works centers and 1,400 material production sites in some fifty countries worldwide.

Who we are : Strategic Partner – Colas S.A. (www.colas.com)

Unit : Million Euro 2012

Consolidated Revenue 13,036

in France 7,363

in other countries 5,673

Operating Profit 406

Consolidated net profit attributable to the Group

302

• Roads account for more than 80% of the Group's total business activity, including;

• construction and maintenance of roads, highways, runways, ports, industrial platforms, logistics hubs, reserved-lane public transport (tramways and bus lanes), recreational facilities, bike paths, motor racing circuits;

• upstream activities involving the production and recycling of construction materials

(aggregates, emulsions and binders, asphalt mixes, ready-mix concrete, bitumen) through its extensive international network of quarries, emulsion plants, asphalt plants, concrete plants and two bitumen production plants

• There are over 200 different grades of asphalt products available in the group

Who we are : Tipco Asphalt Group’s Network

• Marine Group

• Kemaman Bitumen Company Sdn. Bhd.

(Tipco Asphalt Refinery)

• Thai Bitumen Co., Ltd

• Raycol Asphalt Co,. Ltd

• Tipco Asphalt (Cambodia) Co., Ltd

• Tasco International (Hong Kong) Co., Ltd.

• Hindustan Colas Limited (India)

Tipco Asphalt Group Network


Who we are : Tipco Asphalt Refinery

Asphalt Cement (AC) 50-70% vol.

VGO 5-15% vol.

AGO 10-25% vol.

Kerosene 1-5% vol.

Naphtha 1-5% vol.

• Asphalt dedicated refinery that produces

over 1 million tons of asphalt per annum

• Situated on East coast of main peninsula Malaysia (40.7 hectares or 250 Rai)

Tipco Asphalt Refinery

9

• Tipco Asphalt’s Marine Group currently

owns 7 oceangoing vessels

• Total cargo capacity is 26,700 tons

• Average age of the fleet is 13 years old

Marine Group

Who we are : Logistics

• Over 300 asphalt-carrying trucks delivering

asphalt products throughout Thailand and neighboring countries

Asphalt-carrying Trucks


Who we are : Products

Asphalt Products

• Asphalt Cement

• Cutback Asphalt

• Asphalt Emulsion

• Modified Asphalt Emulsion

• Polymer Modified Asphalt

Special Products

• Tipco Premix

• Tipco Joint Sealer

• Jet Fuel Resistant Joint Sealant

• Binder for Tropical

Non-Asphalt Products (Oil)

• AGO

• VGO

• Kerosene

• Naphtha

Products


Who we are : Products – Asphalt Products

Asphalt Cement:

• AC 60/70, AC80/100

• Applications: Hot-Mix Asphalt (HMA), Chip Seal, DBST

Asphalt Emulsion:

• CRS-1, CRS-2, CMS-2h, CSS-1, CSS-1h

• Applications: Tack Coat, Chip Seal, DBST, Cold Mix, PREMIX, Prime Coat, Slurry Seal, Cape Seal

Cutback Asphalt:

• MC-30, MC-70, RC-70, RC-250

• Applications: Prime Coat, Tack Coat, Chip Seal, DBST

Polymer Modified Asphalt (PMA):

• Applications: HMA by PMA, SMA (Stone Matrix Asphalt), Porous Asphalt, UTFC (Ultra Thin Friction Course), Colored Hotmix Asphalt


Who we are : Products – Other Products

• Tipco Premix

• Tipco Joint Sealer

• Jet Fuel Resistant Joint Sealant

• Tropical Bridge Joint

Special Products

• AGO

• VGO

• Kerosene

• Naphtha

Non-Asphalt Products (from the refinery)


Who we are : Projects References

• Suvarnabhumi Airport

• Don Muang Airport

• Chiangmai Airport

• Ratchaphruek Tunnel

• Chalermmahanakorn Expressway

• Bira Kart Circuit

• Rama 4 Bridge

• Rama 8 Bridge

• Rama 9 Bridge

• Bhumipol Bridges

• Outer-ring road

Projects References

494

1,008

578 642

2009 2010 2011 2012


• Highest record of total asphalt sale volume of 1.33 million tons. Key contributors are international market, domestic market, subsidiaries in Malaysia and Cambodia.

• Tipco Asphalt Refinery operated at almost 80% of its maximum capacity.

• Consolidated sales for the year 2012 recorded an outstanding performance at Baht 38.4 billion, a significant increase of 66.7% from the previous year.

• The Net Profit of the Company for the year 2012 was Baht 642 million compared to Baht 578 million in 2011

2012 Highlights

14,193

26,298 23,020

38,379

2009 2010 2011 2012

Total Revenue (million Baht)

Net Profit (million Baht)


• Gross Profit Margin (GPM) slightly

reduced by 2% due to a change in

sales products mix and increase of

crude cost in 2012

• Despite a slight reduction in the GPM,

EBITDA remained strong at Baht

1,504 million.

2012 Highlights 1,386

1,615

1,258

1,101

2009 2010 2011 2012

777

1,837

1,405 1,504

2009 2010 2011 2012

Gross Profit (million Baht)

EBITDA (million Baht)


728

1,097

852

1,330

2009 2010 2011 2012

2012 Financial Highlights : Highest Sales Volume Record of 1.33 million tons

Sales Volume (thousand tons)

Domestic Sales (30%)

• Additional budgets from the

government to repair road affected

by the flood

• Projects delayed from 2011

International Market (70%)

• 64% of sales growth

• Consistent supply from Tipco

Asphalt refinery

• Highest sales record in domestic

Malaysian and Cambodian market

Main contributors


2013 Outlook

1,097

852

1,330

1,520

2010 2011 2012 2013

Sales Volume (thousand tons)

26,298

23,020

38,379

42,606

2010 2011 2012 2013

Total Revenue (million Baht)

(estimated) (estimated)

2013 Outlook

Refinery

• Expansion of production capacity (Q4 2013)

o Debottlenecking will increase production

capacity from 25K bbl/day to 30K bbl/day

o Additional land & product tanks

• Improve efficiency and reliability

o Natural Gas Conversion (dual firing) –

change from fuel oil to NGV, expect

significant improvement on cost

Marine Group

• 1 pre-owned vessel to be delivered in 2013

• 1 new built vessel to be delivered in 2014

Investment Plan

Crude

• Target for 2013 : 8 million bbl

• Currently procured 3.5 million bbl (YTD April

2013)

Marketing

• Continue our growth into international

markets

• Continue to introduce new products and

techniques into Thailand

2013 Outlook


Going Forward to achieve 2015 Vision

Mission : A well-recognized leading asphalt focused company in Asia Pacific Vision : To distribute 2 million tons of asphalt products by 2015 and be the key contributor to the success of all stakeholders while maintaining the highest Corporate Social Responsibility standards at all times

Documents

Tipco Asphalt Public Company Limited - dcs- · PDF file• Kemaman Bitumen Company Sdn. Bhd. ... Works, Ministry of Industry celebrated ... domestic market, subsidiaries in Malaysia