Petra Energy Bhd. · MYX:PENERGY
Petra Energy Bhd — Investor Presentation (December 2023)
32 slides from Petra Energy Bhd's investor presentation, December 2023
Slide 1: Petra Energy Bhd - A Sustainable Energy Company
PETRA ENERGY BHD A Sustainable Energy Company SYNERGISING PARTNERSHIPS
Slide 2: Disclaimer
Disclaimer This presentation may change from time to time and may not contain all material information about the Company. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown r
Slide 3: Preface
Preface 2013 We began a turnaround initiative with the aim of getting the house in order and 2018 Now Began a Group-wide Significantly improved our growing the business, this saw the transformation programme operational Company register significant improvement in fiscal performance and saw PETRA 201
Slide 4: Overview
Overview About us Industry outlook Company outlook Financial Highlights Transformation & roadmap Moving forward 4
Slide 5: About us
About us 5
Slide 6: Core businesses
Core businesses DEVELOPMENT & PRODUCTION MARINE ASSETS SEGMENT Marginal field RSC Marine Offshore – KBM Cluster Support ▪ Development & ▪ 4 workboats Production of ▪ 3 workbarges petroleum from Kapal, ▪ 1 AHTS Banang & Meranti small fields offshore Terengganu ▪ The only sustainable and successful RS
Slide 7: Executive summary
Executive summary Topside Major Maintenance / Hook up Construction & Commissioning ❑ Strong track record and experience spanning 30 years in HUCC/TMM/MCM ❑ ~RM5 billion worth of projects undertaken since 2007 for major clients i.e PETRONAS, SHELL, EXXON Mobil, Murphy, MMHE Development & Production f
Slide 8: Board of Directors
Board of Directors Tan Sri Datuk Seri Hj. Ahmadi Gian Carlo bin Yusoff Panglima Sulong Maccagno Executive Director bin Matjeraie Non-Executive Director Chairman Ng Ing Peng Simon Ong Abdul Rahim Abdul Dato’ Anthony Bujang Executive Director / Group CEO Non-Executive Director Executive Director Hamid
Slide 9: Strong leadership team
Strong leadership team over 130 years of experience ▪ 38 years of oil & gas and broad upstream ▪ 25 years of oil & ▪ 25 years experience in gas experience experience in engineering, Project ▪ 9 years with Management and Management, SHELL, Head of Strategy positions Maintenance and Strategy & spannin
Slide 10: Industry outlook
Industry outlook 10
Slide 11: Brent price movement
Brent price movement ▪ Oil prices remained relatively stable in 2019 ▪ Saudi Arabia drone attack causing 5.7million boe / day reduction in global supply of oil ▪ War with Iran - oil price could spike to "unimaginably high numbers”, threat of world economic collapse looming ▪ Expect greater market vo
Slide 12: Malaysian outlook – Offshore Fabrication
Malaysian outlook – Offshore Fabrication Construction of offshore structure activity Number of structures: Three-year outlook 14 14 Wellhead Platform-WHP & Central Processing Platform-CPP 12 (Topside & Jacket) - Tonnage Light (<1k MT) 12 10 5 10 Medium (1k MT - <7.5k MT) High case Low case 8 8 Heavy
Slide 13: Malaysian outlook – HuCC & MCM
Malaysian outlook – HuCC & MCM Hook-up, Construction and Commissioning Maintenance, Construction & Modification No. of Man-hours (Millions): Three-year outlook No. of Man-hours (Millions): Three-year outlook 10 25 9 8 20 17.7 17.6 18.7 7 6 4.9 5.4 15 5 4 3.6 10 3 2 5 1 0 0 2019 2020 2021 2019 2020 2
Slide 14: Company outlook
Company outlook 14
Slide 15: Current business activities - Services Segment
Current business activities Services Segment Hook up construction and commissioning (2013 – 2020) ▪ 5 year contract-Pan Mal cluster of jobs ▪ Biggest contract to date ▪ Scope of work – HuC and Topside Maintenance for PCSB’s facilities offshore Sabah and Sarawak waters iHUC - tender ▪ Participating i
Slide 16: Current business activities - Development & Production
Current business activities Development & Production Segment Kapal, Banang and Meranti ▪ 1st oil achieved within 5 months after commencement of drilling Small field cluster under Risk Service ▪ In record time, ahead of schedule and development cost below Contract (RSC) with PETRONAS budget (PETRA ow
Slide 17: Marine assets
Marine assets Petra Endeavour 300 men accommodation and work barge Crane capacity – 68 MT | Year 2007 Petra Challenger Petra Orbit 300 men accommodation and work barge 189 men workboat Crane capacity – 124 MT | Year 2004 Crane capacity – 23 MT | Year 2008 Petra Lyra (formerly known as Otto 3) 300 me
Slide 18: Financial highlights
PETRA Financial highlights
Slide 19: Key financial highlights 1H 2019
Key financial highlights 1H 2019 Revenue RM249.5m EBITDA GP Margin RM32.9m 13% 13% margin Vessel PAT Utilization RM15.8m 6% margin > 60% 19
Slide 20: Improving performance efficiency - Quarterly
Improving performance efficiency - Quarterly Revenue vs Vessel Utilisation (2014 – Current) > 60% > 60% 56.00% 48.80% 46.40% 43.20% 40.60% 33.70% 35.20% 26.90% 624.4 654.8 191.8 460.2 332.1 119.7 111.9 137.6 67.5 88.4 2014 2015 2016 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018 Q1 2019 Q2 2019 Revenue Vessel
Slide 21: Maintaining low debt / equity ratio
Maintaining low debt / Equity ratio Negative Net As at 31 August 2019, RM'mil 349.49 Gearing as at 1H2019 total borrowings at 341.91 RM31.3m 237.71 Ratio Borrowings 198.21 123.52 102.04 0.43 0.23 0.00 0.15 0.09 0.07 65.59 (0.06) 2014 2015 2016 2017 2018 Q1 2019 Q2 2019 21
Slide 22: Net assets per share vs Share price
Net assets per share vs Share price RM RM 10.68 1.26 404.4m times Share Price Market Capitalization PE Ratio as at 3/10/2019 as at 3/10/2019 as at 3/10/2019 2.00 PETRA Energy Bhd – stock code 5133 1.80 1.73 Net asset per share decreased Total Issued Shares : 321,750,000 from RM1.10 (2017) to RM1.04
Slide 23: Dividend per share (2014 – 2019)
Dividend Dividend/share (2014 – 2019) 10.0 GENERAL GUIDELINE ON DIVIDEND ✓ Payout based on profitability and Company’s solvency for 5.0 the next 1-year Sen 2.0 * No dividend paid in 2017 and 2.0 2018 due to Petra incurred losses during these 2 years. 2014 2015 2016 2017 2018 2019 Year 23
Slide 24: Dividend yield (2014 – 2019)
Dividend Dividend yield (2014 – 2019) 7.9% 5.3% Percentage 2.5% 1.2% * No dividend paid in 2017 and 2018 due to Petra incurred losses during these 2 years. 2014 2015 2016 2017 2018 2019 Year 24
Slide 25: Balance Sheet (2014 – Current)
Balance Sheet (2014 – Current) FINANCIAL YEAR 2014 2015 2016 2017 2018 YTD June 2019 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 BALANCE SHEET Total Liabilities 601,881 559,114 412,650 481,579 315,419 279,404 Total Borrowings 349,490 341,913 237,705 198,206 123,522 65,593 Total assets 1,117,305 1,106,
Slide 26: Profit & Loss (2014 – Current)
Profit & Loss (2014 – Current) FINANCIAL YEAR 2014 2015 2016 2017 2018 YTD June 2019 RM’000 RM’000 RM’000 RM’000 RM’000 RM’000 INCOME STATEMENT Revenue 624,423 654,789 332,084 460,230 467,424 249,510 EBITDA 74,471 109,477 5,764 9,730 15,634 32,954 PBT/(LBT) 21,780 62,015 (124,483) (46,212) (18,508)
Slide 27: Moving forward
e Moving forward 27
Slide 28: Opportunities in the pipeline and status
Opportunities in the pipeline and status Plan to continue our presence & secure offering in RSC upon expiry of contract. Pursuing other small field and late life asset Bidding for iHUC contract subsequent to expiry of Pan Malaysia contract Bidding submission for Solar tender Bidding for operation &
Slide 29: Continuous improvement
Continuous improvement Current key activities The Group is continuously reviewing & improving operations and committed to deliver the best quality services to the clients Ongoing Transformation journey until 2024 HSE commitment - Key to business operations within oil and gas industry - PETRA has sho
Slide 30: The roadmap 2019 - 2024
The roadmap 2019 - 2024 Partner of Sustainable choice energy Building company Re-building momentum the PETRA Return Start of brand to new era black 2019 2020 2021 2022 2023 2024 - Positive cashflow from - Positive cash flow from - Cashflow from ops for - Doubling revenue - Double digit ROI - Double
Slide 31: Summary
Summary 2013 Now We began a turnaround initiative with the aim of getting the house in order and 2018 Significantly improved our operational growing the business, this saw the Began a Group-wide efficiency/margins, reduced Company register significant improvement transformation programme our borrowi
Slide 32: Thank you
THANK YOU 32