opportunity day opportunity day the 1 st quarter of 2009 performance wednesday 27 may 2009 1
TRANSCRIPT
Opportunity Day Opportunity Day The 1The 1stst Quarter of 2009 Performance Quarter of 2009 Performance
Wednesday 27 May 2009 Wednesday 27 May 2009
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1st Quarter 2009 Operating Performance
MB % MB % MB %
Services Income 452.91 99.40% 111.57 99.61% 536.82 99.48%
Other Revenue 2.76 0.60% 0.44 0.39% 2.82 0.52%
Total Revenue 455.67 100.00% 112.01 100.00% 539.64 100.00%
Cost of Services -358.00 -78.57% -108.47 -96.84% -438.79 -81.31%
Gross Margin 94.91 20.83% 3.10 2.77% 98.02 18.16%
SG&A Int. -21.91 -4.81% -11.65 -10.40% -33.61 -6.23%
Allowance for Doubtful Debt 0.00 0.00% -38.25 -34.15% -38.25 -7.09%- Advance for Stung Meteuk
Project
Share of Loss from JV/Assoc. 0.00 0.00% 0.00% -2.92 -0.54%
EBT 75.76 16.63% -46.36 -41.39% 26.07 4.83%
TAX -19.50 -4.28% -0.04 -0.04% -19.50 -3.61%
Net Profit 56.26 12.35% -46.40 -41.42% 6.57 1.22%
Gross Profit Margin 20.96% 2.78% 18.26%
Net Profit Margin 12.35% -41.42% 1.22%
TRC Sahakarn Consolidated
1st Qtr 2009
1st Quarter 2009 Operating Performance
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Comparison with same period of last year
MB % MB % MB %
Services Income 536.82 99.48% 277.28 98.66% 259.54 93.60%
Other Revenue 2.82 0.52% 3.76 1.34% -0.94 -25.03%
Total Revenue 539.64 100.00% 281.05 100.00% 258.59 92.01%
Cost of Services -438.79 -81.31% -211.61 -75.30% 227.18 -107.36%
Gross Margin 98.02 18.16% 65.67 23.37% 32.36 49.27%
SG&A Int. -33.61 -6.23% -37.33 -13.28% -3.73 9.99%
Allowance for Doubtful Debt -38.25 -7.09% 0.00 0.00% 38.25 #DIV/0!
Share of Loss from JV/Assoc. -2.92 -0.54% -9.86 -3.51% -6.94 70.39%
EBT 26.07 4.83% 22.24 7.91% 3.83 17.21%
TAX -19.50 -3.61% -9.55 -3.40% 9.95 -104.20%
Net Profit 6.57 1.22% 12.69 4.52% -6.12 -48.25%
Gross Profit Margin 18.26% 23.68%
Net Profit Margin 1.22% 4.52%Debt to Equity (Time) 0.62 0.60
In case no allowance for doubtful debtAdd: Allowance for Doubtful Debt 38.25 7.09%Net Profit before
Extraordinary Item 44.82 8.31%
1st Qtr 2008
Consolidated
1st Qtr 2009
Consolidated Difference
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Project Name
Type
of
Works
Project Owner/
Client
Work Value
(MB)
Uncompleted
Work Value
(MB) Project Period
1. Hinkong Gas Pipeline E, P, C PTT Plc. 267.00 267.00
Apr 09 Jun 10
2. Bio Diesel Plant E, P, C Bangchak Bio fuel Co., Ltd. 757.00 274.03 Mar 08 June 09
3. PTTAR-Reformer Complex II Project H2 Line E, P, C PTT Aromatic and Refining Plc.
219.00 127.02 Sep 08 Sep 09
4. N/G Pipeline for 7 NGV Station ( Pack#5) E, P, C PTT Plc. 119.93 104.94 Jan 09 July 09
5. Bangchak Pipeline Reroute
Additional Work
E, P, C PTT Plc. 315.009.90
74.039.90
May 08 Mar 09
6. Construction of MRS and In-Line Block Valve, Suvanaphum - Payatai NGV. Pipeline Project
E, P, C PTT Plc. 185.00 61.32 Nov 06 Sep 07
7. Natural Gas Pipeline for small Industrial at Bang Pa-In state and existing area Ayudhya Province
E, P, C PTT Natural Gas Distribution
Co., Ltd.
135.99 40.60 May 08 Feb 09
8. Design & engineering for SPE II
Additional Work
E, P, C Siam Polyethylene Co., Ltd. 52.4130.80
5.5825.58
Apr 08 May 09
9. Supply and install fucture sleeve at corridor Pipeline
Project
Addtional Work
E, P, C Map Ta Phut Olefins Co., Ltd. 25.50
19.32
15.05
7.73
May 08 Nov 08
10. 1BCP-Main Outlet Pipe line to process E, P, C Bangchak Petroleum Co., Ltd. 14.80 9.62 Sep 08 Mar 09
10.2 BCP-Main Outlet Pipe line to process E, P, C PTT Plc. 12.24 7.95 Sep 08 Mar 09
11. Polishing Filter E, P, C RCR Engineering Co., Ltd. 42.48 11.89 Aug 08 Feb 09
12. CCC Interconnecting Pipeline Project E, P, C Map Ta Phut Olefins Co., Ltd.
Thai Polyethylene Co., Ltd.
Thai Industrial Gases Plc.
357.00 8.21 Apr 07 Mar 09
TRCTRC’s Projects on Hand as of 31 March 2009’s Projects on Hand as of 31 March 2009
TRCTRC’s Projects on Hand as of 31 March 2009 ’s Projects on Hand as of 31 March 2009
Project Name
Type
of
Works
Project Owner/
Client
Work Value
(MB)
Uncompleted
Work Value
(MB) Project Period
13. N/G Pipeline for 5 NGV Station E, P, C PTT Plc. 121.80 4.87 Oct 08 Feb 09
14. Construction PHD Interconnecting Pipeline
Project
E, P, C Eastern Fluid Transport Co., Ltd.
91.75 4.59 Mar 08 Nov 08
15. PTT AMATA-Natural Gas Distribution Network E, P, C PTT Natural Gas Distribution
Co., Ltd.
7.63 2.29 July 08 Dec 08
16. Total Wp3 Wind Turbine Structural Support Frame
E, P, C TOTAL E&P Myanmar 1.73 0.21 Dec 08 Jan 09
Total 16 Projects 2,786.28
1,062.
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Project Name
Types
of
Works
Project Owner/
Client
Work Value
(MB)
Uncompleted Work Value
(MB) Project Period
1. Malibu Khao Tao Project (Condominium structure and architecture)
E,P,C
M Talay Co., Ltd.(Joint Venture of Maneeya Group and Mr. Pravit Maleenont)
371.96 229.91 Mar 08 Nov 09
2. Bangchak Bio Diesel Project P,C TRC Construction Plc. (The Owner: Bangchak Bio Fuel Co., Ltd.)
100.74 29.77 Sep 08 Mar 09
3. N/G Pipeline Project - Bangchak
E,P,C
TRC Construction Plc. (The Owner: Bangchak Petroleum Plc.)
14.06 9.14 Sep 08 Mar 09
4. N/G Pipeline Project - Bangchak
E,P,C
TRC Construction Plc. (The Owner: PTT Plc.)
11.63 7.56 Sep 08 Mar 09
5. Civil Construction of TPE/HDPE (Package 1)
E,P,C
Thai Polyethylene Co., Ltd.
36.53 2.66 May 08 Apr 09
Total 5 Projects 534.92 279.04
SKWSKW’s Projects on Hand as of 31 March 2009’s Projects on Hand as of 31 March 2009
TRC 16 Projects 1,062.41 MB
SKW 5 Projects 279.04 MB
Less 3 Join Projects (46.47) MB
Total Backlog 18 Projects 1,294.98 MB
1st Qtr Backlog Conclusion
+ Oman Project 800 M
(60% of USD 38 Million) 2,095 MB
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Projects from
Project Development and Investment Division
Status Update
Region Project StatusThailand SPP Ladkrabang C.O.D 2012
Oman Petrogas Rima Contract value of USD 38 million. TRC is awarded
Namibia Desalination plant TRC consortium is one of the short listed
Cambodia Stung Meteuk Foreign investors show strong interests. The MoU is expected very shortly
Nigeria Amazon Energy as potential partner
The status of the projects are being monitoring closely
Cambodia: Stung Meteuk
EGAT meeting on Power Development Plan and Power Purchase Program from Neighboring Countries
Negotiating with foreign investors, MoU is expected in a very near future
Business Partner: CloughClough Highlight: Full Project Life Cycle Solutions Capability
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JV Agreement is expected to be signed early of June The newly established JV company will lever TRC’s capability to venture to a new business segment (off-shore platform / off-shore piping) where margin is higher and competitors are less
Many opportunities in Thailand’s neighbor countries such as M-9 field in Myanmar, where PTTEP is the owner and the operation is expected to
commence soon
Oman: Petrogas Rima Project
Scope of work:Engineering, Procurement, Construction, Load out, Transportation, and Hook-up of Production Flow Lines and Water Injection Flow Lines for Rima Satellites Small fields
Total of drilling well 72 wells
Distance between site 10-30 km. Contract value is USD 38 million
Namibia: Desalination Plant in Swakopmund region
TRC and its Thai strategic partner as well as strategic Namibia partner formed a strong consortium to pursue this opportunity It is official that the consortium is short-listed (pre-qualified) to submit a full proposal in September ‘09 The desalination plant has a proposed capacity of 25 ml per day with full expansion of 80 ml per day utilizing R-O technology
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