Tipco Asphalt Public Company Limited

Tipco Asphalt Public Company Limited
Introduction to Tipco Asphalt Group
18th March 2013
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
Agenda
 Who we are

Milestones

Major Shareholders

Strategic Partner

Tipco Asphalt Group’s Network

Products & Projects References
 2012 Performance Highlights
 2013 Outlook
 Going Forward
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
2
Who we are : Milestone
• First Tipco Asphalt terminal was set up in Prapadaeng
• Marine Group was established to import and export of
asphalt products
Supsakorn Family
established Tipco
Emulsion Company
Limited
1979
Tipco Asphalt was listed on
Stock Exchange of Thailand
under symbol “TASCO”
1981
First Tipco Emulsion Plant
was launched in Ladkrabang
Industrial Estate
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
1991
• Tipco Asphalt was the first asphalt emulsion
manufacturer in Thailand to receive ISO 9002 certification
1993
Partnership with Colas
S.A. in Raycol Asphalt
1995
1998
Lang Fang Tongtai Road
Material Co., Ltd. was the
Company’s first investment in
China
Who we are : Milestone
• Kemaman Bitumen Company Sdn. Bhd.
(Tipco Asphalt Refinery) started commercial
production
Cambodia Asphalt Co., Ltd.
started its operations
(now known as Tipco Asphalt
(Cambodia) Co., Ltd.)
• 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 plants were
certified by ISO 14001
and ISO 18001
1999
2000
2002
Colas S.A. became Tipco
Asphalt’s strategic and
major shareholder
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Tipco Asphalt Public Company Limited
Historical high sales
volume of 1.33
million tons
2007
Tipco Asphalt introduced
the first colored asphalt
in Thailand
2008
2010
2012
Tipco Asphalt celebrated
highest sales record
surpassing 1 million tons.
Who we are : Shareholders & Group Structure
Colas S.A. (32%)
Tipco Foods PCL (24%)
Supsakorn Family (6%)
Free Float (38%)
Tipco Asphalt Public Company Limited
99.9%
Thai Bitumen
41.4%
Raycol Asphalt
100%
99.9%
TIPCO Asphalt
(Cambodia)
Marine Group
100%
TASCO International
(Hong Kong) Co., Ltd
51%
51%
Lang Fang
Tong Tai
Zhenjiang
Tipco Asphalt
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
100%
Tipco Asphalt
(Xinhui)
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
• 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.
• 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
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
Who we are : Tipco Asphalt Group’s Network
Tipco Asphalt Group 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)
Who we are : Tipco Asphalt Refinery
Naphtha 1-5% vol.
Kerosene 1-5% vol.
AGO 10-25% vol.
VGO 5-15% vol.
Tipco Asphalt Refinery
• 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)
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Tipco Asphalt Public Company Limited
Asphalt Cement (AC)
50-70% vol.
Who we are : Logistics
Marine Group
• 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
Asphalt-carrying Trucks
• Over 300 asphalt-carrying trucks delivering
asphalt products throughout Thailand and
neighboring countries
9
Who we are : Products
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)
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
•
AGO
•
VGO
•
Kerosene
•
Naphtha
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):
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
• Applications: HMA by PMA, SMA (Stone
Matrix Asphalt), Porous Asphalt, UTFC
(Ultra Thin Friction Course), Colored
Hotmix Asphalt
Who we are : Products – Other Products
Special Products
•
Tipco Premix
•
Tipco Joint Sealer
•
Jet Fuel Resistant Joint Sealant
•
Tropical Bridge Joint
Non-Asphalt Products
(from the refinery)
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
•
AGO
•
VGO
•
Kerosene
•
Naphtha
Who we are : Projects References
Projects References
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
•
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
13
2012 Performance Highlights
2012 Highlights
•
•
•
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.
Total Revenue
(million Baht)
38,379
26,298
14,193
2009
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.
2010
2011
2012
Net Profit
(million Baht)
1,008
578
494
•
23,020
642
The Net Profit of the Company for the
year 2012 was Baht 642 million
compared to Baht 578 million in 2011
2009
2010
2011
2012
2012 Performance Highlights
2012 Highlights
•
Gross Profit
(million Baht)
1,615
1,386
1,258
1,101
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,
2009
2010
2011
EBITDA remained strong at Baht
1,504 million.
2012
EBITDA
(million Baht)
1,837
1,405
1,504
777
2009
2010
2011
2012
2012 Financial Highlights :
Highest Sales Volume Record of 1.33 million tons
Main contributors
Sales Volume
(thousand tons)
1,330
 Domestic Sales (30%)
•
1,097
Additional budgets from the
government to repair road affected
by the flood
852
•
728
Projects delayed from 2011
International Market (70%)
•
64% of sales growth
•
Consistent supply from Tipco
Asphalt refinery
•
2009
2010
2011
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
2012
Highest sales record in domestic
Malaysian and Cambodian market
2013 Outlook
Sales Volume
(thousand tons)
Total Revenue
(million Baht)
1,520
42,606
38,379
1,330
1,097
26,298
852
2010
2011
23,020
2012
2013
(estimated)
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
2010
2011
2012
2013
(estimated)
18
2013 Outlook
2013 Outlook
Crude
•
Target for 2013 : 8 million bbl
•
Currently procured 3.5 million bbl (YTD April
Investment Plan
Refinery
•
Expansion of production capacity (Q4 2013)
o
2013)
capacity from 25K bbl/day to 30K bbl/day
o
Marketing
•
Continue our growth into international
markets
•
Debottlenecking will increase production
•
Improve efficiency and reliability
o
Continue to introduce new products and
Additional land & product tanks
Natural Gas Conversion (dual firing) –
change from fuel oil to NGV, expect
techniques into Thailand
significant improvement on cost
Marine Group
•
1 pre-owned vessel to be delivered in 2013
•
1 new built vessel to be delivered in 2014
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
บริ ษทั ทิปโก้แอสฟัลท์ จำกัด (มหำชน)
Tipco Asphalt Public Company Limited
20