ctci corporation the 1st investor · project lube oil blending plant and tank farm terminal, epc...

CTCI Corporation

The 1st Investor

Conference, 2018

2018.03.27

Agenda

• 2017 Operation Review

• Business Outlook

• 2017 Financial Highlights

2

2017 Operation Review

3

Copyright © 2016 CTCI All Rights Reserved.

Accomplishments Review

4

Company Honors

• Member of Dow Jones Sustainability Indices (DJSI) Emerging Markets

• Honored with various Taiwan Corporate Sustainability Awards (TCSA) in 2017, including “The

Outstanding Corporate Sustainability Professionals” for Group Chairman Yu, “Services Industry

Golden Award” under the “Top 50 Corporate Sustainability Report Award”

• Honored with “Sustainability Excellence Award”, “ Circular Economy Sustainability Award ” by BSI

• Listed as Top 5% companies for Corporate Governance Assessment by TWSE and Taipei

Exchange

• Listed among “Top 100 for Excellence in Corporate Social Responsibility” by CommonWealth

Magazine

• CTCI Wins the REBRAND 100® Global Awards for Successful Brand Transformation

• Group Chairman Honored by Chinese Professional Management Association with National

Outstanding CEO Award

• Group Chairman Honored with the Highest Honor, Personal Award for Technology Management

Award

• Group Chairman is honored with “Lifetime Achievement Award”


Accomplishments Review The CommonWealth Magazine Top 2,000

Enterprises Survey

Sector 2016 2017

International Contractors 100 99

Global Contractors 139 125

International Design Firms 92 71

Global Design Firms 147 126

Sector Company 2016 2017

Contractor

CTCI Corp. 1 1

CTCI SEC 30 31

CTCI MAC 41 42

CTCI REI 51 54

Investment Holding

Company ECOVE 8 8

Environmental Services ECOVE ESC 2 3

IT Equipment Sales

and Services CTCI ASI 33 42

Item Company 2016 2017

Top 50 Most

Profitable Companies

(net profit after tax)

CTCI Corp. 32 28

ENR Magazine Rankings

5

Item 2016 2017

Industrial Process

Top International

Contractors N.A. 48

Top International

Design Firms 29 15

Manufacturing

Top International

Contractors 37 29

Top International

Design Firms 36 N.A.

Steel and Non-

Ferrous Metals

Top International

Contractors N.A. 18

Top International

Design Firms 6 5

Electronic

Assembly

Top International

Contractors 5 4

Top International

Design Firms 5 N.A.


Accomplishments Review

Accomplishments of project execution

• Saudi Kayan Furnace-10 Project selected as “Winner of Best EHSS Mega Project

Performer”

• SAMAC MMA / PMMA Project awarded “the Green Flag for Best EHSS Performance” for

the third consecutive time

• GEB RAPID P1 RFCC Project CCSM Team won “The Best Contractor Award”

• Singapore Thomson Line Trackwork Project awarded “LTA Annual Safety Award 2017”

• Talin Refinery No.11 DHDS Project awarded “Vendor for Outstanding HSE Performance” by

CPC

6


Backlog and Breakdown

7

Note: The new contract amounted NT$ 44 billion in 2017

164

187 191

203

166

0

50

100

150

200

250

2013 2014 2015 2016 2017

Unit: NT$, Billion

Taiwan 54%

South East Asia 30%

Middle East 12%

China 2% Other 2%

Environmental 39%

Hydrocarbon 27%

Power 20%

Industrial 7%

Transportation 6%

Other 1%


Major Projects Awarded in 2017

8

• Philippines-Aromatics & Butadiene Extraction Units, EPC

• Malaysia-Package 28B Mogas EURO 5, EPC

• Malaysia-Track 4A 1,440MW Combined Cycle Power Plant, EPC

• Malaysia-KLLRT3 Power Supply Project, EPC

• Vietnam-Lube Oil Blending Plant and Tank Farm Terminal, EPC

• Vietnam-Van Phong 1, 1,320MW Coal-Fired Power Plant, EPC

• Thailand-CUP4 Project, EPC

• KSA-Yansab Butadiene Project, FEED

• USA-Crude Oil Processing, Integrated Project Management Team, Early Start Plan, FEED


• The first project awarded by JG Summit, one of the largest publicly-listed trading companies in

the Philippines

• Once again awarded a hydrocarbon project in the Philippines, an important milestone which

marks CTCI’s re-establishment in the Philippines market

Client JG Summit Petrochemical Corporation

Project Aromatics & Butadiene Extraction Units

Contractor CTCI and CIPEC Construction Inc.

Scale Aromatics: 318 KTA

Butadiene: 77.6 KTA

Scope Design, Procurement, Construction

Location Philippines

9

Major Projects Awarded- Southeast Asia

Batangas



Client PRPC Refinery and Cracker Sdn Bhd

Project Package 28B Mogas EURO 5

Contractor CTCI and MIE Industrial Sdn Bhd

Scale

TAME: 17,500BPSD

ISOM: 10,000BPSD

CNHT: 43,000BPSD

Scope Design, Procurement, Construction and Commissioning

Location Malaysia

• Once again awarded a RAPID project by Petronas, becoming the only EPC contractor to win

2 refinery contracts within the Pengerang Integrated Complex

• PRPC Refinery and Cracker Sdn Bhd is a subsidiary of Petronas, a stated owned company

Johor

10


Client Southern Power Generation Sdn. Bhd.

Project Track 4A 1,440MW Combined Cycle Power Plant

Contractor CTCI and GE

Scale 2 x 720MW


Location Malaysia

• The first project cooperating with GE for combined cycle power plant, and the first

contract awarded by Tenaga Nasional Berhad (TNB)

Johor


11


Client Prasarana Malaysia Bhd

Project KLLRT3 Power Supply Project, EPCC

Contractor CTCI CMCE JV Sdn Bhd

Scale 38 km (26 stations and 1 depot)


Location Malaysia

• The first transportation project in Malaysia

Kuala Lumpur


12


Client Maxihub Company Limited

Project Lube Oil Blending Plant and Tank Farm Terminal, EPC

Contractor CTCI and CTCI Singapore

Scale Lube Oil: 32,000 KL per year

Tank Farm: 25,000 KL per year


Location Vietnam

13

• Maxihub Company is the Joint Venture led by CPC

• Marks a milestone for New Southbound Policy of Taiwan Government


Dong Nai

Province


Client Sumitomo Corporation

Project Van Phong 1, 1,320MW Coal-Fired Power Plant, EPCC

Contractor CTCI, IHI, Toshiba and MES

Scale 2 x 660MW


Location Vietnam

• The first mega coal-fired power plant EPC project being awarded overseas


14

Khanh Hoa

Province


Client Global Power Synergy Public Company Limited

Project CUP4 Project, EPCC

Contractor CTCI and CTCI (Thailand)

Scale 57 MW

70 T/H


Location Thailand

• Once again awarded cogeneration power plant expansion project by Thailand oil company


15

Rayong


Major Projects Awarded – The Middle East

• Continuously awarded FEED work by SABIC group

Client Yanbu National Petrochemical Company (Yansab)

Project Yansab Butadiene FEED Project

Contractor CTCI

Scale 136,000 tons per year

Scope FEED

Location Kingdom of Saudi Arabia

16


Major Projects Awarded- The United States

Client Jupiter MLP

Project Crude Oil Processing

Contractor CTCI and CTCI Americas

Scale CDU:140,000 BPSD

Scope Integrated Project Management Team, Early Start Plan, FEED

Location The United States

• The first American client since CTCI Americas was founded

Texas

17

Business Outlook

18


Business Outlook

Taiwan

Hydrocarbon

• LNG Receiving Terminal：

- CPC：3rd LNG Terminal Tank, Taichung LNG

phase III, Yung-An Plant Expansion

- Taipower：Taichung

- MPC：Mai-Liao

• CPC Talin Tank Farm Package project

• CPC Kaohsiung NC5 Plant Relocation project

• Investment of high value petrochemical products

Power & Energy

• Several power plant expansion projects such as

Dah Tarn, Shen Ao, Hsin Ta, etc.

• IPP gas-fired power plant expansion projects such

as ChiaHui and Kuo-Kuang

• Offshore Wind Farm

• Five Wastewater Treatment and Reclamation Plants

such as Yong Kang and Linhai, etc.

• Integrated Waste Management Facility in Taoyuan

Infrastructure • Taipei Wanda Line MRT system, Taichung Power

Plant Coal Handling System Improvement project 19


The Asia

• Gulei Petrochemical Complex

project in China and FPC PDH

Phase I project in Ningbo

• Integrated Solid Waste

Management facility in Macao

• Multi-Biomass cogeneration system

and cogeneration power plant in

Thailand

• Energy from waste project in the

Philippines

• MRT and high-speed rail projects

and IPP gas-fired power plant in

Malaysia

• Refinery project , MRT and high-

speed rail projects in Singapore

• MRT project and air separate unit

plant in Vietnam

• Refinery project in Indonesia

• Several refinery and petrochemical

projects, LNG receiving terminal

projects in India

The America

• Petrochemical project in Texas

• Petrochemical project invested

by Formosa group in Louisiana

• LCD panel plant invested by

Foxconn in Wisconsin

The Middle East and North

Africa

• Several mega gas related

projects and the largest Oil-to-

Chemical plant in the world in

KSA

• Gasoline & Aromatics project in

UAE

• Petrochemical project in Qatar

• New refinery plant in Algeria

The Commonwealth of

Independent States

• PTA/PET detail design work in

Russia

• PTA/PET FEED work in

Kazakhstan

Business Outlook

20


Taiwan

Hydrocarbon:33.9bn

Infrastructure, Environment, and Power:74.1bn

Southeast Asia

Hydrocarbon:92.0bn


India

Hydrocarbon:39.5bn

Total Amount

Hydrocarbon:431.8bn Infrastructure, Environment and

Power:145.7bn

China

Hydrocarbon:10.4bn


CIS and Others:

Hydrocarbon:0.9bn

Potential Opportunities in Next 12 Months

Unit：NT$

United States

Hydrocarbon:72.2bn

21

Middle East

Hydrocarbon:182.9bn


2017 Financial Highlights

22


Consolidated Sales Revenues and Breakdown

23

Taiwan 43%

Middle East 30%

South East Asia 21%

China 4%

Others 2%

Hydrocarbon 56%

Power 23%

Environmental 8%

Industrial 6%

Transportation 4%

Others 3%

52.2

57.7

67.1 70.5 71.6

0

10

20

30

40

50

60

70

80

2013 2014 2015 2016 2017

Unit: NT$, Billion


2017 Consolidated Income Statement

Unit: NT$, Thousand

2017/12/31 2016/12/31 YOY

Sales Revenues 71,606,604 100% 70,509,675 100% 1.6%

Operating costs (66,495,104) -93% (64,323,846) -91.2% 3.4%

Gross Profit 5,111,500 7.1% 6,185,829 8.8% -17.4%

Operating expenses (2,096,474) -2.9% (2,023,306) -2.9% 3.6%

Operating income 3,015,026 4.2% 4,162,523 5.9% -27.6%

Total non-operating income

and expenses 976,327 1.4% (184,055) -0.3% 630.5%

Profit before income tax 3,991,353 5.6% 3,978,468 5.6% 0.3%

Income tax expense (701,255) -1.0% (964,753) -1.4% -27.3%

Profit for the period 3,290,098 4.6% 3,013,715 4.3% 9.2%

Profit attributable to Owners

of the parent 2,805,348 3.9% 2,222,888 3.2% 26.2%

Total basic earnings per share 3.68 2.92

24


2017 Consolidated Balance Sheet Unit: NT$, Thousand

2017/12/31 2016/12/31

Current assets* 54,762,209 78.2% 51,394,621 77.6%

Non-current assets 15,305,780 21.8% 14,830,268 22.4%

Total assets 70,067,989 100.0% 66,224,889 100.0%

Current liabilities 43,960,316 62.7% 40,297,705 60.9%

Non-current liabilities 5,067,516 7.2% 5,737,135 8.7%

Total Liabilities 49,027,832 70.0% 46,034,840 69.5%

Equity attributable to owners of

the parent 17,952,032 25.6% 17,098,343 25.8%

Non-controlling interest 3,088,125 4.4% 3,091,706 4.7%

Total equity 21,040,157 30.0% 20,190,049 30.5%

Total liabilities and equity 70,067,989 100.0% 66,224,889 100.0%

*Cash and cash equivalents:NT$19.4bn

25


Dividend Payout

26

2.41 2.65

2.91

3.22 3.32

2.22

2.51 2.69

2.92

3.68

1.92

2.37 2.42

2.76 2.84

1.99 2.23

2.40 2.60

3.23

80%

89%

83% 86% 85%

90% 89% 89% 89% 88%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0.0

0.5

1.0

1.5

2.0

2.5

3.0

3.5

4.0

4.5

5.0

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

EPS Cash DPS Cash Dividend Payout Ratio(%)Unit: NT$

ctci corporation the 1st investor · project lube oil blending plant and tank farm terminal, epc...

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