ctci group ctci/ investor relationshiplocation saudi arabia new project in 2015 yanbu,saudi,arabia...

CTCI/ Investor Relationship

Our Vision

The Most Reliable Global Engineering Service Provider

CTCI GROUP


Business Operation

Financial Highlights

Company Overview

Looking Forward

2


• The Largest Engineering, Procurement and Construction (“EPC”) Company in Taiwan

-Over 50 years of industry experience (since the founder, CTCI Foundation set up in 1959)

-2015 retained 1st in the category of EPC among Top 650 Service Enterprises(Common Wealth Magazine)

• Offering Specialized Turn-key EPC Solutions

-Ability to execute EPC contracts size over USD 1 billion

-Expanded business lines from refinery, chemical and petrochemical into power, infrastructure,

environmental protection, steel & nonferrous, storage & terminal, and waste-to-energy fields

• Significant Domestic and Overseas Experiences

-Utilized the top-notch technologies transferred from abroad and has become a designated partner for many

internationally well-known companies to collaborate with

-Hundreds proven track records worldwide, including Taiwan, China, Thailand, Singapore, Malaysia, Vietnam,

Philippines, Indonesia, India, KSA, Qatar and USA

• One of Major EPC Firms in Asia

-Global presence with approximately 7,000s employees stationed in more than 40s affiliates worldwide

Introduction

3


• History

1959 – China Technical Consultants, Inc. (now renamed as CTCI Foundation) established

1979 – CTCI Corporation founded by CTCI Foundation and two financial organizations

1993 – CTCI was listed in TWSE (9933 TT)

2011 – Chiyoda invested CTCI and became the major shareholder

• Paid-in Capital ………………………………NTD 7.6 Billion (USD 229.9 Million)*

• Market Cap……………………………………NTD 27.3 Billion (USD 0.8 Billion)*

• Shareholder Structure(latest information as of 31st December , 2015)

Company Profile

*: Base date 31st Dec. 2015

CTCI Stock Price:35.85; Outstanding Shares :760,508,848; USD:NTD=1:33.08

4

58.2%

41.8%

Local Institutional & Private Investors

Foreign Institutional Investors


Feasibility

Study

& Planning

Engineering Design(E)

Procurement(P) Fabrication Construction(C) Commissioning &

Maintenance

Project Management

• Market Survey

• Enquiry and Purchasing

• Inspection and Expediting

• Shipping, Delivery and Claims

• Customs Clearance

• Insurance

• Subcontracting

• Permits and Banking Affairs

• Equipment Installation and Rigging

• Piping / Steel Structure Fabrication

& Erection

• Electrical / Instrument Installation

& Wiring

• Civil & Building

• Painting & Insulation

• Construction Management

• Process Design

• Piping Design

• Civil and Structure Design

• Instrumentation and Control Design

• Electrical Design

• Mechanical and Equipment Design

Comprehensive Services

5


• Petroleum Refining

• Petrochemical Processing

• Chemical Manufacturing

• Storage and Terminals

Hydrocarbon

• Power Plant

• Infrastructure

• Transportation

• Steel Mill

• Incineration and Energy

Recovery

• Air Pollution Control

Infrastructure,

Environment and Power

• Maintenance Strategy/

Planning/Execution

• Plant Inspection

• Maintenance

• Asset Integrity Management

Plant Maintenance

• BOT & BOO

• Incineration O&M

• Resources Collection

Recycling

• Renewable Energy

Environment and Resource

Business Areas

6


• Founded:1987

• Listed: 2002

• Paid-in Capital: NTD 235 Million(USD 7 Million)

• Market Cap: NTD1.0 Billion(USD 29 Million)

• 2015 EPS: NTD 3.40

• CTCI Holding Ratio : 50.13%

• Business area: -Main automation contractor -Manufacturing execution system -Intelligent manufacturing -Process optimization -Facility reliability

Listed subsidiaries

• Founded:1999

• Listed: 2010

• Paid-in Capital: NTD 658 Million(USD20 Million)

• Market Cap: NTD 10.6 Billion(USD 319 Million)

• 2015 EPS: NTD 10.84

• CTCI Holding Ratio : 62.38%

• Business area: -Incinerators O&M (8 of 24 in TW+2 in Macau) -New recycling business (Glass, Waste tire, and Food waste) -Green energy (Small solar power plant)


CTCI Stock Price:41.05;Outstanding Shares :23,495,500; USD:TWD=1:33.08


CTCI Stock Price:160.5;Outstanding Shares :65,779,115; USD:TWD=1:33.08

7


Global Network

As of Feb. 29th ,2016

Domestic

Manpower

Taiwan 5,841

Overseas

Manpower

Beijing 599

Shanghai 97

Thailand 329

Vietnam 218

India 116

Saudi

Arabia

111

Singapore 18

Malaysia 7

Sub-total 1,495

Total 7,336

8


Competitive Advantages

• Comprehensive EPC experiences

– Full knowledge of major licensors and EPC firms

– Strategic alliance successfully with selected technology providers

– Significant EPC experiences in multiple geographical regions and industrial sectors

• Cost Effective

– Local engineering workforce is highly cost-competitive compared to western and Japanese peers

– Valuable engineering design and sound project management by competent engineers and project management team

• Long-Standing Client Relationships

– Performed EPC services for numerous major domestic and international clients

– Repeat clients gain through solid track records

• Green Energy Business Competitiveness

– Incineration plant business with competitive advantages. Growing environmental business opportunities

9


Significant Track Records (1/3)

10

Client Project Location

Tai Power 900 MWx3 Power Generating Equipment for Tung Hsiao Power Plant Renewal

Taiwan

LRC2 146000 BPSD Laffan Refinery 2 Qatar

OPTC Kuan-Yin 1520 KTA lINE 3 PTA Plant Taiwan

KFPC 30 KTA HSBC Project Taiwan


Petronas 140 KBPSD RAPID Refinery RFCC Malaysia

SAMAC 250KTA MMA and 40KTA PMMA KSA

Land Transport Authority Singapore Thomson Line Track work Singapore

CPC Talin #11 DHDS Taiwan

Far Eastern FUPY 75/450KTA EO/EG China

2013

2014

20

15


Orpic Liwa Plastic Industrial Complex Steam Cracker and U&O Package

Oman

FPC-USA Low density polyethylene (LDPE) USA

Nan Ya Plastics USA Ethylene glycol (EG) plant expansion USA

Toho Titanium YNP Ti-sponge EPC Saudi Arabia

Land Transport Authority Gali Batu depot trackwork Singapore



11


IBN RUSHD (Sabic Group) IR-II Expansion Saudi Arabia

Saudi Kayan (Sabic Group) Amines EPC Saudi Arabia

Kimanis Power 300MW Combined Cycle Power Plant Malaysia

Dragon Steel NO.2 Sinter Plant Election Work Taiwan

Formosa Petrochemical RDS No.2 Reconstruction Work Taiwan

China Steel Corporation Trackwork, Earthwork and Drainage Taiwan


Tai Power Lin Kou Power Plant Renewal Taiwan

Dept. of Rapid Transit Taichung MRT Green Line E&M /AFC Taiwan

Land Transport Authority Trackwork EPC Singapore

Petronet LNG Expansion India

20

10

2011


Tai Power 800 MWX2, Power Generating Equipment for Talin Power Plant Renewal

Taiwan

QAPCO Furnaces and Ethylene Tank Qatar

USI Kaohsiung Plant 50 KTA EVA Taiwan

QAPCO Regenerative Thermal Oxidizer System Taiwan

CPC Talin #10 SRU Taiwan

20

12



12


PTTAC AN/MMA Thailand

Titan Petrochem Propylene /Butadiene Extraction Malaysia

PTTUT Central Utility NO.1 PhaseⅠ~Ⅳ/ CUP-Ⅲ Thailand

Taipei City Government Taipei MRT Xinyi-Songshan Line Core System

Taiwan

Chinese Petroleum RFCC Taiwan

Dragon Steel Sintering Taiwan

20

07

2008


QAPCO Ethylene Package NO.2 Qatar

Thai Olefins Olefins Debottlenecking Thailand

Taipei City Government Taipei MRT Tucheng Line Power System Taiwan


Aramco/Total JERP Package Saudi Arabia

Saudi Kayan (Sabic Group) Utility Block Saudi Arabia

Petronet LNG India

Government of the Macau O &M of the Macau Refuse Incineration Plant

Macao

Chinese Petroleum No.6 Naphtha Cracker Taiwan

2009


Business Operation


Company Overview

Looking Forward


Consolidated Sales Revenues and Breakdown

14

Unit:NT$,Billion

Taiwan 56%

Middle East 19%

Malaysia 10%

Thailand 6%

China 5% Singapore 3%

Other 1%

Power 37%

Refinery 21% Petrochemical 20%

Infrastructure 10%

Incineration 5%

Other 5% Hi-Tech 2%

56.3

60.5

52.2

57.7

67.1

0

10

20

30

40

50

60

70

80

2011 2012 2013 2014 2015


New Contracts and Breakdown

15

Unit:NT$,Billion

79.5

60.2

66.9

77.9

64.5

30

40

50

60

70

80

90

2011 2012 2013 2014 2015

Middle East 69%

Taiwan 18%

Malaysia 6%

China 4%

Others 3%

Petrochemical 65%

Refinery 10%

Steel and Non Ferrous Metals 6%

Infrastructure 6%

Other 6%

Hi-Tech 4% Air Pollution Control

3%


New Project in 2015

Project Talin Plant #3 RDS & #8 SRU Project

Client CPC Corporation

Contractor CTCI Corporation

Capacity RDS 40,000 (barrels/day, BPSD)

SRU 250 (tons/day, TPD)

Service Scope EPC

Location Taiwan

Kaohsiung, Taiwan

• Rich high-pressure hydrogen engineering design and plant expansion experiences in domestic and overseas markets.

• Won several public works quality awards.

• Capacity of RDS increased from 30,000 to 40,000 BPSD.ccvc ; Capacity of SUR increased from 200 to 250 TPD.

16


New Project in 2015

Project Taichung Power Plant Unit 1 to 4 AQCS Retrofit

Project

Client Taiwan Power Company

Contractor CTCI/Mitsubishi Corporation/Mitsubishi Hitachi

Power Systems

Capacity NA

Service Scope EPC

Location Taiwan

Taichung , Taiwan

• Once completed, it will reduce emissions of particulate pollutants, SOx and NOx by 61 tonnes/year (3.3%), 503 tonnes/year (3.2%), and 2,154 tonnes/year (9.9%) respectively.

• Demonstrated CTCI’s technological capability in Air Quality Control System (AQCS) for beating International competitors.

17


New Project in 2015

Project Liwa Plastic Industrial Complex Steam Cracker

and U&O Package

Client Oman Oil Refineries and Petroleum Industries

Company (Orpic)

Contractor CTCI Corporation and CB&I

Capacity Steam Cracker 870 KTA (Kiloton Annually)

Service Scope EPC

Location Oman • The biggest and the most important package of

Liwa Plastics Industrial Complex.

• The scope of work includes EPC and commissioning for a 870 kTA ethylene production steam cracker plant , a 498 kTA selective hydrogenation plant, a 87 kTA methyl tertiary butyl ether plant , a 39 kTA butene-1 plant , and a 121 kTA Pygas plant.

18

Sohar Port, Oman


New Project in 2015

Project Low density polyethylene (LDPE) project

Client FPC-USA


Capacity 400 KTA(Kiloton Annually)

Service Scope Basic Design

Location USA

• Breakthrough in the high-pressure LDPE technology

• Successfully defeat the international peers, and enter the US market.

• Significantly beneficial for acquiring potential construction project in US market

Texas,USA

19


New Project in 2015

Project Ethylene glycol (EG) plant expansion project

Client Nan Ya Plastics USA


Capacity 830 KTA(Kiloton Annually)

Service Scope Basic Design

Location USA

• Successfully defeats the international

peers, and enters the US market

• Significantly beneficial for acquiring

potential construction project in the US

market. Texas,USA

20


Project YNP Ti-sponge EPC Project

Client Toho Titanium/Advanced Metal Industries

Cluster Joint Venture

Contractor CTCI Corporation/Chiyoda Corporation

Joint Venture

Capacity 15.6 KTA(Kiloton Annually)

Service Scope EPC

Location Saudi Arabia

New Project in 2015

Yanbu,Saudi,Arabia

• After undertaking the cold mill steel

plant project of CSC in India, CTCI was

awarded the YNP Ti-Sponge Project,

marking a milestone for entering

overseas steel and non-ferrous plant

fields.

Titanium plant

Titanium tetrachloride

Plant

Titanium dioxide plant

21


New Project in 2015

Project Gali Batu depot trackwork project

Client Land Transport Authority ,Singapore


Length 5.6 kilometer

Service Scope EPC

Location Singapore

• After undertaking the Downtown Line and Thomson Line trackwork projects in 2011 and 2014 respectively, CTCI was awarded the Gali Batu Depot trackwork project

• The contractor having the highest market share of all undergoing trackwork projects in Singapore

Singapore

22


Backlog and Breakdown

23

Unit:NT$,Billion

154.6 153.2

163.5

187.1 190.5

100

110

120

130

140

150

160

170

180

190

200

2011 2012 2013 2014 2015

Taiwan 45%

Middle East 30%

Malaysia 19%

Singapore 3%

Other 2%

China 1%

Petrochemical 32%

Refinery 23%

Power 20%

Incineration 11%

Infrastructure 9%

Other 3%

Steel and Non Ferrous Metals 2%


On-going Projects in Middle East

Saudi Arabia

SAMAC 250KTA MMA and 40KTA PMMA Project

Qatar

Laffan Refinery 2 Project

Ethylene Cracking Furnace and Tank Project

24

Saudi Arabia

TOHO/AMIC 15.6 KTA Ti-Sponge YNP Project

Oman

Liwa Plastic Industrial Complex Steam Cracker and U&O Package


Malaysia

Petronas RAPID Refinery RFCC Project

Singapore

DTL Stage 3 MRT Trackwork Project

Thomson Line Trackwork Project

Gali Batu Depot Trackwork Project

Thailand

Thai Oil 217MW SPP Project

On-going Projects in South East Asia

25

Philippines

Pagbilao Power Station Unit 3 Seawater FGD Package Project


DORTS

Taichung MRT E&M system

Taipower

Linkou 800MWx3 Coal Fired Power Plant Renewal Project

Talin 800MWx2 Coal Fired Power Plant Renewal Project

Tung Hsiao 890MWx3 LNG fired Power Plant Renewal Project

Taichung Power Plant Unit 1 to 4 AQCS Retrofit Project 彰化縣

CPC

Talin No.11 DHDS Project

Talin Refinery No.3 RDS Unit Revamping Project

Taichung LNG Plant Ph-II Re-gas Project

USI

Kaohsiung 50 KTA EVA Project

Asia Polymer

Linyuan 50 KTA EVA Project

OPSC

Kuanying 152 KTA PTA Project

林口觀音

On-going Projects in Taiwan

Formosa Group

Kraton 30 KTA HSBC Project

通霄

大林

26


Business Operation


Company Overview

Looking Forward


2015 Consolidated Income Statement

28

2015/12/31 2014/12/31 YOY

Sales revenues 67,057,640 100.0% 57,691,937 100.0% 16.2%

Operating costs (61,621,562) -91.9% (53,317,572) -92.4% 15.6%

Gross profit 5,436,078 8.1% 4,374,365 7.6% 24.3%

Operating expenses (2,434,166) -3.6% (1,672,034) -2.9% 45.6%

Operating income 3,001,912 4.5% 2,702,331 4.7% 11.1%

Total non-operating income and

expenses 318,740 0.5% 462,501 0.8% -31.1%

Profit before income tax 3,320,652 5.0% 3,164,832 5.5% 4.9%

Income tax expense (750,509) -1.2% (628,436) -1.1% 19.4%

Profit for the period 2,570,143 3.8% 2,536,396 4.4% 1.3%

Profit attributable to Owners of the

parent 2,040,610 3.0% 2,092,199 3.6% -2.5%

Total basic earnings per share 2.69 2.79 -3.6%

Unit:NTD,Thousand


2015 Consolidated Balance Sheet

29

2015/12/31 2014/12/31 2015/12/31 2014/12/31

Current assets* 45,298,807 42,090,608 Current liabilities 34,389,605 31,033,931

Financial assets 1,479,308 2,469,756 Non-current

liabilities 6,112,898 6,365,262

Non-current assets 14,931,779 14,792,740 Long-term

borrowings 2,611,950 2,926,350

Property, plant and

equipment 7,001,676 7,026,878

Other non-

current liabilities 3,500,948 3,438,912

Intangible assets 121,469 118,638 Total Liabilities 40,502,503 37,399,193

Other non-current

assets 7,808,634 7,647,224 Total equity 19,728,083 19,484,155

Total assets 60,230,586 56,883,348 Total liabilities and

equity 60,230,586 56,883,348

*Cash and cash equivalents:NTD 5.6bn

Unit:NTD,Thousand


Unit :NTD Million, except per share data

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Sales Revenues 33,582 43,954 52,244 47,098 51,877 56,279 60,522 52,223 57,692 67,058

Growth (%) 6.6 30.9 18.9 -9.8 10.1 8.5 7.5 -13.7 10.5 16.2

Gross Profit 2,186 3,065 3,369 3,668 4,289 4,655 5,159 4,217 4,374 5,436

Margin (%) 6.5 7.0 6.5 7.8 8.3 8.3 8.5 8.1 7.6 8.1

Net Income Before Tax

1,233 1,815 1,979 2,356 2,737 3,272 3,453 2,510 3,165 3,321

EPS 1.67 2.12 2.41 2.65 2.91 3.22 3.32 2.22 2.79 2.69

Cash DPS 1.32 1.74 1.92 2.37 2.42 2.76 2.84 1.99 2.23 2.40

Stock DPS 0.21 0.12 0 0 0 0 0 0 0 0

Payout Ratios(%) 91.6 87.7 79.7 89.4 83.2 85.7 85.5 89.6 88.8 89.2

New Contract Amount

70,534 18,516 71,771 60,232 54,935 79,542 60,173 66,924 77,866 64,458

Total Backlog 91,864 67,110 86,703 100,811 100,094 154,649 153,228 163,517 187,102 190,465

Financial Data Summary

30


Financial Snapshot

Unit: NTD

31

3.5% 3.9% 4.4% 4.7% 5.0% 5.3% 5.5% 4.1% 4.5% 4.5%

10.7%

14.1%

15.5% 16.0%

16.8% 17.4% 16.9%

10.9%

13.2% 13.1%

6.5% 7.0%

6.5%

7.8% 8.3% 8.3% 8.4% 8.1%

7.6% 8.1%

1.67

2.13

2.41

2.65

2.91

3.22 3.32

2.22

2.79 2.69

1.32

1.74 1.92

2.37 2.42

2.76 2.84

1.99

2.23 2.40

0.0

1.0

2.0

3.0

4.0

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Return On Asset(%) Return On Equity(%) Gross Margin(%) EPS Cash DPS


Business Operation


Company Overview

Looking Forward


Strategy Overview

• The Results of Developing Overseas Markets

– Malaysia: awarded mega refinery plant project from PETRONAS

– Oman:awarded mega petrochemical plant project from OPRIC

– Singapore: awarded MRT track work system project again

• Pursuit Reasonable Profit Projects and Enter Into Blue Ocean Market

– Select the projects with bargain chance, higher margin and added values

– Pursue FEED+EPs tenders then get the chances to persuade clients into EPC Lump sum for reasonable profit .

• Expand Products, Markets and Businesses

– New Products: such as gas plant,isoprene,coal to chemicals,LNG ex port termical,HSBC and C4,C5 derivatives

– New Markets: seek to alliance with local EPC companies and leverage the resources of oversea subsidiaries to expand the new markets, such as Indonesia,USA,Latin America and Myanmar

– New businesses: to acquire upstream key technologies ,such as LNG Tank and develop downstream channel partners, such as US construction company through M&A or investment

33


• Maintain Current Business Markets , Enhance Engineering Core Abilities

– Vertical integration of hydrocarbon business from two perspectives. The first is to expand the detail design engineering services to basic design services. The second is to expand construction, commissioning services to factory maintenance services

– For MRT Business, to expand previous rail experience to invade light rail market and acquire signal and control system through M&A

– Accumulating more experience in constructing refineries of titanium, nickel, copper, rare earth, coking plants

• Get More Long Term Contracts and Raise Stable Revenue Resources

– Developing petrochemical plant maintenance and incineration plant business in China and South East Asia

• Strength the Capability of the Oversea Subsidiaries

– For clients in Mainland China prefers local companies, JDEC can be representing CTCI Group to develop in China. JDEC has been involved in non-hydrocarbon business

– Advise the subsidiaries to upgrade independent bidding and project execution ability

• Efforts on Cost Saving

– Control the procurement costs strictly and reduce the operating expenses

Strategy Overview

34


2016 Potential Opportunities

India

Hydrocarbon:NTD18.5bn

Infrastructure ,Environment and Power:NTD21.0bn

China



America and Others



35

Middle East



Total Amount



South East Asia



Taiwan




Thank You!

ctci group ctci/ investor relationshiplocation saudi arabia new project in 2015 yanbu,saudi,arabia...

Documents