Transcript Medium-term Plan 2006-2010

Analyst Conference
Q1/2012
April 24 , 2012
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Agenda

Q1/2012 Situation

Consolidated Financial Results

PVC Outlook Q2/2012
2
I. Q1/2012 Situation
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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.
4
Vinyls Market and Price Movement
US$/MT
1,700
1,500
PVC
VCM
EDC
Ethylene
Ethylene
1,300
1,100
PVC
900
VCM
700
500
EDC
300
100
Q2 ’09
Q3
Q4
Q1’10
Q2
Q3
Q4
893
983
Q1’11
Q2
Q3
Q4
Q1’12
1,025
1,176
1,098
920
954
PVC Price
719
883
853
966
993
PVC-EDC
407
423
483
481
466
437
467
516
637
626
591
658
(147)
(203)
(300)
(95)
(10)
(65)
(213)
(115)
(62)
(140)
(297)
Gap (US$/MT)
PVC-EL (23)
Gap (US$/MT)
-5-
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PVC Resin Sales Volume
KMT
200
….. increased 1% Q-o-Q while decreased 6%
Y-o-Y mainly from the recession of global
economic…………
YTD
185
27%
100
173
27%
30%
28%
43%
45%
6 % Y-o-Y
-
MT
200,000
150,000
100,000
50,000
185
156
27%
174
26%
27%
36%
36%
28%
30%
31%
43%
171
173
27%
28%
1% Q-o-Q
6% Y-o-Y
41%
38%
37%
Q2/11
Q3/11
Q4/11
45%
Q1/11
Domestic
Export
Q1/12
Regional Sales
Regional Sales = Vietnam & Indonesia
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PVC Resin Sales Volume
MT
800,000
745
26%
600,000
400,000
38%
697
713
28%
29%
27%
37%
34%
33%
685
173
200,000
36%
35%
37%
40%
(3 Months)
-
Domestic
Export
Regional Sales
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II. Consolidated Financial Results
(Preliminary & Unaudited)
8
Consolidated Revenue from Sales
Million Baht
YTD
10,000
…….Up
11% Q-o-Q from higher selling price
..
while down 5% Y-o-Y mainly from the
economic slowdown………….
7,935
7,561
5 % Y-o-Y
5,000
Million Baht
0
10,000
8,000
7,935
7,900
8,300
7,561
6,790
11 % Q-o-Q
6,000
5 % Y-o-Y
4,000
2,000
0
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
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Consolidated Revenue from Sales
Million Baht
40,000
31,588
30,924
29,229
30,000
24,622
20,000
10,000
7,561
(3 Months)
0
10
Consolidated EBITDA
Million Baht
YTD
1,500
…. increased 191% Q-o-Q and 14% Y-o-Y
mainly from the better performance……
1,187
1,000
1,037
14% Y-o-Y
500
Million Baht
0
1,500
1,226
1,187
1,037
1,000
908
191% Q-o-Q
14% Y-o-Y
500
408
0
Q1'11
Q2'11
Q3'11
Q4'11
Q1'12
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Consolidated EBITDA
Million Baht
4,000
3,648
3,247
3,000
2,000
1,187
1,000
(3 Months)
0
12
Consolidated Net Profit
Million Baht
1,000
…… increased 1,118% Q-o-Q and 47% Y-o-Y
due to the higher gap between selling price and
main raw material price…………
YTD
755
513
36%
500
47 % Y-o-Y
38%
62%
54%
-
Million Baht
755
766
700
513
37%
500
35%
38%
300
100
-100
36%
539
60%
54%
1,118 % Q-o-Q
47 % Y-o-Y
62
60%
62%
148%
Q1/11
Q2/11
TPC
Q3/11
Sub
Q4/11
Q1/12
Asso
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Consolidated Net Profit
Million Baht
3,000
2,500
2,000
2,210
8%
1,500
1,000
1,866
1,866
1,880
40%
35%
40%
92%
55%
500
83%
755
59%
55%
36%
(3 Months)
62%
72%
TPC
Sub
Asso
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III. Outlook Q2/2012
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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.
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Thank you
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