Analyst Briefing. Year To Date September FY 2010/ th November 2010

Transcription

1 Analyst Briefing Year To Date September FY 2010/11 26 th November 2010

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3 1. MD/CEO s Message 2. Financial Review For Year To Date September FY 2010/11 3. Business Performance Review For Year To Date September FY 2010/11 4. Retail Business Overview 5. Q&A

4 Financial Review For YTD September FY 2010/11 En Rozaini M Sani General Manager, Finance Division

5 Key Events / Highlights For Year To Date ended 30 September 2010 PDB achieved higher sales volume (2.8%) and average selling prices (6.9%) for year to date 30 September 2010 as compared to same period last year This was achieved against the backdrop of higher GDP growth rate for the year which leads to increase in overall demand (i.e. overall growth of 5.3%) Government announced two price hikes for fuel products (July & November) and introduced managed float pricing mechanism for RON97 In August 2010, the Group paid a total of RM335.3 million (net of tax) to its shareholders the final and special dividend announced in Quarter 4, FY2009/10. An interim dividend of RM0.30 per share and special interim dividend of RM0.10 per share has also been recently announced for FY 2010/11 PDB has adopted Financial Reporting Standards (FRSs), Interpretations and Amendments to FRSs which are effective for annual periods on or after 1 st January 2010

6 Key Financial Highlights YTD 30/09/2010 vs YTD 30/09/2009 As at 30/09/2010 vs As at 31/03/2010 INCOME STATEMENT Revenue increased by 10.3% to RM10,952.8 million from RM9,931.8 million Profit Before Tax increased by 0.6% to RM561.5 million from RM558.0 million BALANCE SHEET Shareholders funds increased by 1.5% to RM4,628.4 million from RM4,558.5 million Cash balances increased to RM1,436.5 million compared to RM912.3 million Key Ratios As at 31/03/2010 As at 30/09/2010 Earnings Per Share (sen) * Return on Revenue (%) Return on Equity (%) * Return on Total Assets (%) * * Annualised based on year to date figures as at 30 September 2010

7 Revenue was higher by 10.3% as a result of higher sales volume and higher average selling price RM Million 12, ,931.8 Revenue 10,952.8 Mogas, 35% Contribution by Product Others, 2% LPG, 5% Lube, 2% Fuel Oil, 4% Aviation, 18% 10, , , , Mogas, 37% Diesel, 34% Others, 3% LPG, 5% Lube, 2% Fuel Oil, 6% YTD 10/11 Aviation, 14% 2, YTD 30/09/2009 YTD 30/09/2010 Diesel, 33% YTD 09/10

8 Gross Profit was lower by 4.1% mainly due to lower margin in Mogas, offset by higher margin gain in Aviation & Diesel RM Million 1, Gross Profit Mogas, 42% Contribution by Product Others, 2% LPG, 10% Lube, 5% Fuel Oil, 2% 1, , Aviation, 11% 1, Diesel, 28% YTD 10/ Others, 4% LPG, 10% Lube, 5% Mogas, 47% Fuel Oil, 1% Aviation, 7% YTD 30/09/2009 YTD 30/09/2010 Diesel, 26% YTD 09/10

9 However, Profit Before Tax has increased by 0.6% due to better management of OPEX and increase in Other Income RM Million Profit Before Tax Comparison for OPEX & Other Income OPEX OTHER INCOME YTD 09/10 YTD 10/ YTD 30/09/2009 YTD 30/09/2010

10 Shareholder s funds and cash balance continue to grow RM Million ,628.4 RM Million , Mar Sept Mar Sept 2010

11 Cash balance reached its highest level on 30 September 2010 RM Million 1,500 Cash and bank Deposits Total 1,437 1,350 1,200 1,145 1,015 1,020 1,050 1,

12 Earnings per share for PDB is on an upward trend arising from strong earnings performance Sen * Earnings Per Share FY2004/05 FY2005/06 FY2006/07 FY2007/08 FY2008/09 FY2009/10 FY2010/11 * annualised based on 30 September 2010 figures FY 2005/06 FY 2006/07 FY 2007/08 FY 2008/09 FY 2009/10 FY 2010/2011 PDB P/E Market PE

13 PDB s share price outperform FBM KLCI since May 2010 KLCI Share Price vs FBM KLCI Performance RM , ,076 1,173 1,271 1, , ,464 1,285 1, KLCI PETDAG 6 5

14 PDB Total Shareholder Return as at 30 September Share Price (RM) CAGR (with Dividend Reinvestment) 16.4 % On Bonus Issue at a ratio 1: Mar 94 Mar 95 Mar 96 Mar 97 Mar 98 Mar 99 Mar 00 Mar 01 Mar 02 Mar 03 Mar Feb 24 Feb Mar 05 Mar 06 Mar 07 Mar 08 Mar 09 Mar 10 Sept FY93/94FY94/95 FY95/96FY96/97FY97/98FY98/99FY99/00 FY00/01FY01/02FY02/03FY03/04FY04/05FY05/06FY06/07FY07/08FY08/09FY09/10 * No of Shares 1,012 1,034 1,050 1,067 1,097 1,134 1,1731 1,231 1,300 1,350 2,812 2,887 2,990 3,096 3,225 3,363 3,530 (with Dividend Reinvestment) 15 years 10 years 5 years 1 year 6 month TSR (%)

15 PDB has announced interim and special interim dividend for YTD FY10/11 Sen DIVIDEND DECLARED FY2004/05 FY2005/06 FY2006/07 FY 2007/08 FY 2008/09 FY 2009/10 FY 2010/11 Special Final Interim FY04/05 FY05/06 FY06/07 FY07/08 FY08/09 FY09/10 FY10/11* Net Dividend (RM 000) 107, , , , , , ,036 Net Dividend/ PAT (%) (Payout) 53% 29% 34% 51% 59% 60%

16 PDB s dividend yield continues to increase and remains at a higher level than market yield PDB Dividend Yield Market Dividend Yield 0.00 FY2004/05 FY2005/06 FY2006/07 FY 2007/08 FY 2008/09 FY 2009/10 FY 2010/11

17 T H A N K Y O U

18 Business Performance Review For YTD September FY 2010/11 En Ahmad Kushaini Ramli Senior Manager, Strategic Planning Department

19 1. Malaysian Economic 2. Business Performance 3. Business Outlook and Key Focus Area

20 Malaysia economy continued to register positive growth albeit at lower rate Source : Statistic Department of Malaysia

21 1. Malaysian Economic 2. Business Performance 3. Business Outlook & Key Focus Area

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26 Key Achievement in Q1 and Q2 FY 2010/11 Retail market leadership in Q1 FY10/11 Signed 10-year local supply with Proton Edar (Sept 2010) Order taking at service stations pilot at JB Launched NGV Lube (July 2010) Secured Emirates contract 4ML/mth (June 2010)

27 1. Malaysian Economic 2. Business Performance 3. Business Outlook & Key Focus Area

28 Growth Rates (%) Malaysia economy is expected to register slower growth in the next few quarters GDP Growth Rates Actual Average Forecast 0 Q4 Q1 Q2 Q3 Q Source: BNM

29 Key Focus Area Retail Business Achieving market leadership Increasing throughput volume Opening new stations Commercial Business Maintain and strengthen market leadership Focus on primary target market and quality customers

30 Key Focus Area LPG Business Maintain market leadership Improve on product network availability and customer service Lube Business Aggressive market penetration Expand product range to include fighting brand

31 T H A N K Y O U

32 Retail Business Overview En Zainal Abidin Othman General Manager, Retail Business Division

33 1. Overview of Retail Business Scope & Activities Service Station C-store Cards Business 2. Revenue & Profit Contribution Fuel & Non-Fuel 3. Information on Key Products PRIMAX 95, PRIMAX 97, Dynamic Diesel & Range of Lubricants 4. Current & Future Initiatives Green Station Effort Regional engagement with the local community

34 Service Station Types Categories Annual plan for new PSS

35 Types Company-Owned Dealer Operated (CODO) Dealer-Owned Dealer Operated (DODO) Categories Types No. of Network CODO 891 DODO 47 Total YTD Sep Figures as at YTD September FY2010/2011 Hyperstations (build up area more than 5000m 2 & minimum 4 business partners) Superstations (build up area between 1500 m 2 and 5000m 2 & minimum 2 business partners) Standard station PDB will continue to grow new stations in strategic and focus area

36 Mesra C-store Types Partners Our Offering (Services & Products

37 Types Mesra C-Store Mini Mesra Retrofit Mini Mesra Types No. of Network Mesra C-store 603 Mini Mesra Retrofit 15 Mini Mesra 213 Total YTD Sep Figures as at YTD September FY2010/2011 Mesra Partners Food services & Quickserve Restaurants

38 Mesra Offering : Services & Products Banking- ATMs, Cash Deposit & Cheque Drop Postal & Courier services- POS Malaysia, Mini Pos, UPS & Nationwide Express Ticketing- Transnational Others- Touch & Go, Epay & Mr Kiosk

39 Cards Business SmartPay Fleetcard Corporate Gift Card Mesra Card Co-Branded Credit Cards

40 Cards Business Smart Pay Fleetcard SmartPay card was introduced in Facilitates greater control over fleet management in terms of fleet movement and expenditures monitoring More than 80,000 active accounts - comprising of government and corporate; prepaid and postpaid customers Convenience fuelling at more than 900 stations Corporate Gift Card For corporate purchases only Terms and conditions are based on an agreement between Customer Management and their customers subscribing to this facility Initial preload amount at RM50 with subsequent reload at multiple of RM10.

41 Cards Business PETRONAS Loyalty Mesra Card Launched on 30 th April 2009 PDB s new loyalty program aims to deliver better Rewards and Privileges for our loyal retail customers Exclusive partnering with merchants Current active card membership around 2.1 million Co-Branded Credit Cards Free for Life membership CIMB: 2% rebates for purchases at PSS; 0.5% percent rebates on all other retail transactions Current promotion: Spend a combined of RM5K on both CIMB Touch & Go Visa & CIMB PETRONAS MasterCard to received a complimentary Smart Tag & Quick 2 Go packege MBB: 5X TreatsPoints for every RM1 spent at PSS More attractive programs with economic of scale Conventional Islamic

42 Revenue & Gross Margin (%) Contribution Non Fuel 1% Revenue (RM) YTD September FY2010/2011 (RM 36 Million) Gross Margin (%) YTD September FY2010/2011 Non Fuel 7% Fuel 99% (RM 5,000 Million) Fuel 93%

43 PETRONAS provided advance products that meet high technical standards PETRONAS PRIMAX 97 is specially formulated for superior engine performance: More power, more mileage & a cleaner engine. Enhanced with SINAR G-07 additive package that contains three main active chemicals : Friction modifier- reduce friction between surfaces in the engine cylinders as well as protect the engine s components. Combustion improver- reduce engine emissions levels and improves engine performance. Fuel Detergent- clean fuel system components and prevents deposit formation therefore maintaining optimum engine performance. Reduced sulphur content of 500 parts per million (ppm), which contribute to a reduction of sulphur dioxide (SOx) emission. Available at more than 430 PETRONAS Stations nationwide.

44 PETRONAS provided advance products that meets high technical standards PETRONAS PRIMAX 95 has been formulated with advanced additives for: Greater performance. Fuel economy. Protects engine components. Enhances overall engine efficiency. Clean and prevent the build-up of deposits that degrade engine performance. Friendlier to the environment, as it meets Euro 2-M Petrol Standards. PETRONAS Dynamic Diesel is a high natural cetane diesel fuel formulated to provide: Superior injector deposit clean-up and keep-clean performance Better fuel economy Improved power Lower exhaust emissions Ease of filling Good fuel stability and clarity

45 Range of lubricants Product category: Passenger Car Motor Oil PETRONAS Syntium W-50 to W-30, PETRONAS Mach 5 20W50. NGV Lube 15W-40 Product category: Motorcycle Oil PETRONAS Syntium Moto 2SX to RS-4 PETRONAS Syntium Moto Scooter Product category: Specialty Products PETRONAS Brake & Clutch Fluid DOT 3 & DOT 4 PETRONAS Long Life Coolant Product category: Automatic & Manual Transmition Oil PETRONAS ATF-D3 & ATF-XP PETRONAS GL-5 SAE 90 & SAE 140

46 Current & Future Initiatives Green Station Effort Regional Engagement with the local community

47 Green Station Features Renewable Energy PV solar modules Water efficiency - rain water harvesting Improved Energy efficiency - LED lights & Emerson Tech. Reuse/Recycle - Heat Sink Technology Station Illustration

48 Regional engagement with the local community,,,,,, To increase public awareness of our stations. To educate public on our products. To establish good rapport with customers in local community. To create hype on our Nationwide promotions. To share benefits with the community. To strengthen our PETRONAS brand.

49 T H A N K Y O U

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