20210527 YE2020 PTL OppDay Presentation v1 · 2021. 6. 1. · Italy. Polyplex Strategy Grow High...

38
YE/2020 Opportunity Day Presentation 1 PTL (2020) A- PCL (2020) India Rating & Research upgraded - IND AA-

Transcript of 20210527 YE2020 PTL OppDay Presentation v1 · 2021. 6. 1. · Italy. Polyplex Strategy Grow High...

Page 1: 20210527 YE2020 PTL OppDay Presentation v1 · 2021. 6. 1. · Italy. Polyplex Strategy Grow High Value Product Mix ... 1,804 MB (2019) Sales Revenue +3.5% QoQ +0.6% YoY +7.8% YE YoY

YE/2020Opportunity DayPresentation

1

PTL (2020) A-

PCL (2020) India Rating & Research upgraded - IND AA-

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FY 2020-21 HIGHLIGHTS

Strong Profitability+64% YE YoY

Normalized Net Profit

Successful Capacity Expansions and

Investments

• Sales from plastic films grew significantly from strong demand of PET films, despite COVID-19 worldwide outbreak

• Successfully achieved profitability and margin growth over previous year from continued focus on specialty products

• Completed several specialty projects in Thailand and Turkey and successfully ramped up the capacity of Thin BOPET in Indonesia

2

Outstanding Sales Growth +8% YE YoY despite COVID-19

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AGENDA

1 Company Overview

2 Strategy/Strategic Direction

4 Financial Performance

3

3 Project Updates

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Polyplex At a Glance

3333YearsOf Experience in Plastic Films

High level of expertise, especially in PET Film production, with in-house R&D continuously seeking to provide innovative solution to customers

#6#6BOPET Thin Film Provider

Global

Large capacity with consistently higher than industry’s capacity utilization

7575Reached with ~ 1,950 Customers

Countries

4

#1#1In BOPET Film Production in South East Asia

The preferred provider across regions

Wide global reach with strong network of customers

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Polyplex Company Global Footprint – Sales Revenue by Region

Legends:Legends:PTL Manufacturing Base

Trading/Representative Office/Liaison Office

Asia

North America

Manufacturing Facilities in 5 Countries& Multiple Liaison Offices Worldwide

6

35%

2020-21Sales Revenue

Europe

26%

2020-21Sales Revenue

Parent Company

32%

2020-21Sales Revenue

Japan

Singapore

Other

2020-21Sales Revenue

7%

5

Thailand

Indonesia

India

Turkey

USA

Korea

Netherland

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Industry Value Chain

6

PP/PE Resin

Natural Resources

Natural Gas

Oil

Film Grade PET Resin

(Intermediate Product)

Base Film

Offline Coating

• Extrusion Coating• General purpose • Silicone Coating

Metalizing

Holography

Downstream Value Added Films

PET Base Film

• PET Thick• PET Thin

PP Base Film• BOPP• CPP• Blown PP/PE

Ethylene MEG

PTA

Polypropylene/Polyethylene

Basic Petrochemical Raw Material Plastic Film Production

Pack

ag

ing

& In

du

strial C

usto

mers

End Products

Paraxylene

Standard Films

Specialty Films

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Polyplex Product Range

7

71%

29%

PTL Products by Film Type PTL Products by Applications

15.1PTL Revenue YE 2020-21

64%

36%

Standard Films

Specialty Films

Packaging

Industrial & Electrical

Billion Baht15.1PTL Revenue YE 2020-21

Billion Baht

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Polyplex Example of Product Applications and Industry

Food Non-Food

Personal Care - Health & Hygiene

By Customer’s Industry

Retort Pouch Susceptor Film

Wafer Bag

Easy Peeling Lids

Rice Bags

Healthcare Products Liquid Packaging

Product Labels

71

% P

ack

ag

ing

Food

Candy WrapMeat Wrap

Coffee Pouch

Soup Powder

Frozen Food Baby Food Powder

Wet Wipes

Air Freshener

Ice Cream Cone

Label

Sauce Sachet Chips Packet Pet Food

Mosquito Mat

Carton Packaging

Glass Bottles

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29

%In

du

stri

al

Electrical & Electronic

9

Polyplex Example of Product Applications and Industry

By Customer’s Industry

Wire and Cable Overwrap

Solar Panel Back sheets

Flexible Circuits

Adhesive Tapes

Window Film

Barcode Labels

Motor Insulation

Building & Construction Countless Others

Glitter

Hot Stamping Foil Textile Yarn

Face Shield

Digital PrintingThermal Lamination

Shopping Bags

Lamination Pouch

Medical X ray

Outdoor Sign Boards

MTS Keypads

Book Lamination

FRP

Tags

Signage

Protection Film

Mulch Film -Agriculture

Safety Airbags

ESD BagsFlexible Ducts

Shingle Liner

Cards Lamination

Floor Heating Film

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Nature of Polyplex Business

1.08 1.05 1.13

1.05 1.14 1.13 1.12

1.01

1.231.13 1.12 1.08

75 75 69

63 69

62 63

50

30

43 44

61

3.5 3.8 3.7 3.7 3.6 3.3 3.33.9 3.8 3.7 3.8 3.9

Crude Oil Price($/Barrel)

PTL Spread($/Kg)

PTL SalesRevenue(THB Million)

14.714.1

15.1

Quarterly Performance with Raw Material Price Yearly Performance

PTL’s Stable Spread

PTL Sales Revenue(THB Billion)

Fluctuation of raw material price has no major effect on overall profitability in the longer term, due to passing on RM price increase to customers within 4 – 8 weeks

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AGENDA

1 Company Overview

2 Strategy/Strategic Direction

4 Financial Performance

11

3 Project Updates

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Polyplex Strategic Direction

2021

2023

2025

One-Stop Innovative Plastic Film ProvidersOne-Stop Innovative

Plastic Film Providers

Preferred GlobalPackaging Solution

Provider

Strong footprint in Industrial segment

Preferred GlobalPackaging Solution

Provider

Strong footprint in Industrial segment

Global Leader of Sustainable Solutions for Packaging &

Industrial applications

Global Leader of Sustainable Solutions for Packaging &

Industrial applications

Offer wide range of plastic films through vertical and horizontal

diversification with in-house R&D

Becoming the Best in class provider of plastic

films for packaging Innovation

Expand portfolio and market reach in Industrial

applications

Grow sustainable products to become the leading provider

worldwide

Products Example:90% PCR films, Bio PET

Films, Mono Material PET films, Mono PP Films,

Mono PE films

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Polyplex Strategy

Grow Global Footprint

Enhance Operational Excellence

Advance Innovation Capability

Strengthen Stakeholders’

Intimacy

Expansion to regions and countries with high growth potential and

strong base of customers

Expansion into sustainable solutions for long-term

development

Increase high value products to reduce cyclicality of the business

Grow High Value Product Mix Grow Sustainable Business Line

13

1

2 3

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Polyplex Strategy

Grow Global Footprint

Penetrate & Capture High Growth Potential Markets

Benefits

Apart from manufacturing bases under PTL in 4 countries (e.g. Thailand, USA, Turkey, and Indonesia), Trading set up/ liaison/representative offices are established across several regions to capture high potential market

Diversification of Anti-Dumping Risks

USA

Turkey

Thailand

Indonesia

PTL Manufacturing Base and Liaison/Representative Offices/ Sales Representatives

Fast Turnaround Time and Logistic Benefits

14

11

Japan

Korea

Netherland

Supply Security for Specialty Product

Diversification of Customer Groups and deeper market

penetration

China

MalaysiaVietnam

Philippines

Poland

Italy

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Polyplex Strategy

Grow High Value Product Mix

Expansion of High Value Product Sales

Benefits

Increase Overall Margin

Decrease Business Cyclicality

Polyplex continues to expand the sales proportion of high value products, ranging from severaldownstream value added films to other specialty applications of standard film, to counter volatilityand increase product variety

Increase Product Diversity

Example of Recent Investment on High Value Product Projects

15

22

Silicone Coated Film

Holographic Film

Blown Film

Offline Coated Film

Thailand Turkey Indonesia

Metalized Film

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Adopt Sustainable Processes to enforce circular economy

Polyplex Strategy

Grow Sustainable Business Line

Introduce Sustainable Products and Adopt Sustainable Process

To response to global concern over plastic use and develop sustainable business, Polyplex aims to continue introducing sustainable plastic products and transform the business process to be more environmentally friendly.

Benefits

Increase Product Variety

Enhance Business Sustainability and

Support Circular Economy

Reduce Industrial Process Waste

Sustainable ProcessSustainable Products & Solutions

Introduce Mono-material, Mono-layer Structure, and Higher Recyclable Content Products

Introduce Post-Consumer/Industrial Plastic Recycling Business Line

• ECOBLUE’s Upcoming state-of-the-art recycling line dedicated for hard to recycle materials

• Reduce water and energy consumption

• Effective & Efficient waste management

• Increase usage of renewable energy

• Increase sustainable sourcing Use recycled material Use biomaterials (MEG)

16

• rPET resin

33

Minimize Usage of Fossil Fuels Consumption in

Production

Example of products: • BioPET

Biodegradable Films – meeting the requirements of anaerobic biodegradation either in accelerated land fill or high solids anaerobic conditions

Sustainable Goals

Collaborate with recyclers in EU

• In order to recycle Multi Layer Plastics (MLPs)

Engagement of external consultant

• To develop long term sustainability goals, strategy and road map

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Polyplex Strategy

Enhance Operational Excellence

Advance Innovation Capability

Strengthen Stakeholders’ Intimacy

Implement Kaizens to improve productivity and business processes

Debottleneck existing assets to expand capacity

Reduce wastage and conserve energy

Invest in new high productivity lines

Cross-learning and sharing best practices/benchmarking across business line

Invest in Human Resources

Continually upgrade technical and R&D capabilities

Provide necessary equipment capability to augment strategy of innovation

Establish long-term annual supply contract to help stabilize margin

Provide technical assistance team with fast response and maintain close relationship with customers

17

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Picture PicturePicture

2021 Outlook

18

Continuous Capacity Expansion to Serve

Strong Demand

Indonesia: BoPP line capacity expansion

Thailand: Batch Resin Plant. CP plant debottlenecking

Turkey: Batch Resin Plant & Blown film Line

• Expansion in Holographic film capacity and sales in Thailand

• Expansion of Offline coater capacity and sales in Turkey

• Expansion of sales of silicone coated films

• Upgradation of Thailand thin film line to expand capacity and sales of Specialty films

Advance Research & Development

Grow Specialty Film Volume

• Films for EV segment• Specialty Films for Extrusion coating segment• Specialty films for Electronics segment• Films for Mono-PET structures• 27 Patents granted and 9 Patents under filing

(Across products, processes & countries)• 6 Trademarks granted and 5 Trademarks under

filing - (Across brands and countries)

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AGENDA

1 Company Overview

2 Strategy/Strategic Direction

4 Financial Performance

19

3 Project Updates

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Summary of Polyplex Projects

Projects Expected CAPEX Spend

Unit: million USD

84

31 115

0

20

40

60

80

100

120

140

2021-22 2022-23 totalFY 2021-22 FY 2022-23 Total

Indonesia

1. Brownfield BOPP Project2. Metallizer Project

Turkey

1. Twin Screw Extruder2. Blown Film Line 3. Offline Coater 4. Metallizer

USA

1. Brownfield BOPET film Expansion and PET Resin debottlenecking

Thailand

1. Twin Screw Extruder 2. Holographic Film 3. Batch Resin Line 4. Recycling Lines

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Project Update Highlights: Indonesia

Brownfield BOPP Film Line Project & Metallizer Project

PROJECT SUMMARY

BOPP 10.4 Meter Line

TYPE

52 Million USD

CAPEX

• To tap into the market potential in South East Asia and common customer base with PET films

• Leverage long experience in the market and customers as well as diversify business risk

• To increase cost competitiveness through economies of scale

PURPOSECAPACITY

60,000 TPA

EXPECTED START-UP

Q2 of 2021-22

MET FILM 12,000 TPA3.3 Million

USD• To enhance specialty film capacity

One stop shop for packaging segment in Indonesia

Enhance Cost Efficiency

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Project Update Highlights: USA

Brownfield Project – New Thin PET film expansion & PET Resin debottleneck

Enhance Cost Efficiency

Announced -End September 2020

# Debottlenecking of existing capacity

Capture Higher Market Share

PROJECT SUMMARY

• BOPET 10.6 Meter Line

• PET Resin Line debottlenecking

TYPE

83 Million USD

(excluding WC)

CAPEX

• To serve growing demand of BOPET film by increasing film production capacity and debottlenecking the existing PET resin capacity to cater to requirement of 2 BOPET film lines

• To increase cost competitiveness of the Company

PURPOSECAPACITY

• 50,000 TPA• 86,000 TPA#

EXPECTED START-UP

H2 of FY 2022-23

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AGENDA

1 Company Overview

2 Strategy/Strategic Direction

4 Financial Performance

23

3 Project Updates

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99.6% 99.2% 96.9%

99.5%99.5%

0.4% 2.7%

0.0%

0.1%

0.4% 0.4% 0.5%

0.5%

0.4%

3,880 3,7844,010

14,125

15,216

Q4/2019 Q3/2020 Q4/2020 2019-20 2020-21

Sales Revenue Forex Gain Other Income

Unit: THB Million, %

19.9%28.6% 25.8% 21.3%

27.9%Normalized#

EBITDA Margin

Overall Financial Highlights

24

+7.7% YoY

+3.4% YoY

+6.0% QoQ

#Normalized for forex (loss) /gain [pre-tax basis]

Normalized# EBITDA

-6.7%

QoQ

+30.0%

YoY

+41.2%

YE YoY

4,221(2020) MB

2,990 MB (2019)

Normalized# Net Profit

-11.3%

QoQ

+159.9%

YoY

+63.9%

YE YoY

2,957(2020) MB

1,804 MB (2019)

Sales Revenue

+3.5%

QoQ

+0.6%

YoY

+7.8%

YE YoY

15,144(2020) MB

14,051 MB (2019)

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1.08

1.05 1.13

1.05 1.14 1.13 1.12

1.01

1.23

1.13

1.121.08

0.56 0.54 0.60

0.50

0.610.68

0.72 0.75

0.650.70

1.17

0.97

75 75

69

63

69

62 63

50

30

43 44

61

25

35

45

55

65

75

85

0.2

0.4

0.6

0.8

1.0

1.2

1.4

Unit: $/Kg

Crude Oil Price($/Barrel)

PTL Spread($/Kg)

Spread ComparisonSpread Comparison

Spread Value

China Spread*($/Kg)

QoQ: • Decline in PTL spread in Q4 2020 is due to increase in raw material prices owing

to a sharp increase in crude oil prices.• China VA in Q4 2020 is also a sharp drop due to raw material price increase and

also, Q3 2020 was an aberration as demand for PET film suddenly spiked since early October due to pent-up downstream demand arising out of impact of Covid further compounded by lower inventory in the pipeline.

YoY: • Improvement in YoY spread of PTL by about 7 cents/ kg despite

higher raw material prices in Q4 2020 compared to Q4 2019. due to favorable market conditions supporting increase in selling prices.

*Note: China Spread is the average spread value of Standard 12 micron BOPET film providers from China

Unit: $/Barrel

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89.6%86.2% 86.8%

87.0% 87.1%

9.9%13.3% 12.7%

9.9% 12.3%

2.5% 0…

0.5%0.5% 0.5%

0.5%0.5%

3,4122,939 3,151

12,37511,973

Q4/2019 Q3/2020 Q4/2020 2019-20 2020-21

Cost of sales SG&A Exchange loss Finance cost

26

Unit: THB million, %

Total ExpensesTotal Expenses

QoQ:

• Total Expenses increased by Baht 212 million or 7.2% fromQ3/2020 mainly due to increase in raw material prices andalso due to higher selling expenses due to increase in freightexpenses. This is partly offset by lower admin expenses.

YoY: • Total Expenses decreased by Baht 261 million or 7.6% from

Q4/2019 mainly due to lower raw material prices, partlyoffset by higher volumes and increase in SG&A expenses.Also, Q4 2019 had significant Forex losses as against whichthere is a Forex gain in Q4 2020.

YE YoY:• Total Expenses decreased by Baht 402 million or 3.2% YoY

from 2019 mainly due to the decline in raw material priceand lower finance cost as a result of decline in interest ratesand lower debt levels. However, there is a slight increase ofselling and administrative expense due to higher expenses atThailand and subsidiaries, impact of full ramp up ofIndonesia operations and sharp increase in freight expenses

Total Expenses

-7.6% YoY

+7.2% QoQ

-3.2% YoY

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7711,074 1,002

2,990

4,221

544

1,090 1,109

2,990

4,235

Q4/2019 Q3/2020 Q4/2020 2019-20 2020-21

Normalized EBITDA EBITDA

Unit: THB million, %

EBITDA and Normalized# EBITDAEBITDA and Normalized# EBITDA

Normalized# EBITDA

Normalized EBITDA Margin

# Normalized for forex (loss) /gain [pre-tax basis]

19.9%28.6% 25.8% 21.3%

27.9%Normalized# EBITDANormalized# EBITDA

-6.7%

QoQ

+30.0%

YoY

+41.2%

YE YoY

EBITDAEBITDA

1.7%

QoQ

+103.9%

YoY

+41.6%

YE YoY

QoQ:

• Normalized EBITDA decreased by Baht 72 million or6.7% from Q3/2020 mainly due to contraction ofmargins due to sharp increase in key raw materialprices.

• EBITDA increased by Baht 19 million or 1.7% fromQ3/2020 despite the drop in margins, due to higherforex gain in this quarter as against Q3 2020.

YoY:

• Normalized EBITDA increased by Baht 231million or 30.0% from Q4/2019 mainly due toincrease in margins due to lower raw materialprices.

• EBITDA increased by Baht 565 million or 103.9%from Q4/2019 mainly due to same reasons asexplained above and also due to forex gain thisyear, as against a significant forex loss incorresponding quarter.

YE YoY:

• Normalized EBITDA increased by Baht 1,231million or 41.2% YoY from 2019 mainly due toincrease in margins on account of declining trendof raw material prices and favorable marketconditions, which helped to hold on to sellingprice adjustments for a longer period.

• EBITDA increased by Baht 1.2 billion or 41.2%from Q4/2019 mainly due to same reasons asexplained above and also due to forex gain thisyear, as against a forex loss last year.

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65% 64%

35%36%

2019-20 2020-21

70%

74%

30%

26%

2019-20 2020-21

28

Specialty Films

Standard Films

Sales Revenue by Film Type*Sales Revenue by Film Type* Sales Volume by Film Type*Sales Volume by Film Type*

• In 2020, The Company recorded Sales Revenue from Specialty Films of 36% and Specialty Sales volume of 64%, higher thancorresponding period of last year, mainly due to continued focus and investments into improving the specialty product portfolio.

• Drop in % of specialty volumes is due to the ramp up of the new line in Indonesia which is presently focused on Standard films.In absolute terms, specialty volumes have increased by 11% YoY

• In 2020, The Company recorded Sales Revenue from Specialty Films of 36% and Specialty Sales volume of 64%, higher thancorresponding period of last year, mainly due to continued focus and investments into improving the specialty product portfolio.

• Drop in % of specialty volumes is due to the ramp up of the new line in Indonesia which is presently focused on Standard films.In absolute terms, specialty volumes have increased by 11% YoY

Specialty Films

Standard Films

21.3%27.9%

Normalized EBITDA Margin

*Note: Revenue and volume exclude sales of chips and other miscellaneous items

Overall Financial Breakdown by Film Type

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Incremental EBITDA from Specialty Segment

EBITDA from Specialty SegmentEBITDA from Specialty Segment

518663

8841,023

1,1961,419

1,8582,025

2,348

2,7922,990

4,221

2015-16 2016-17 2017-18 2018-19 2019-20 2020-21

Incremental EBITDA from Specialty Normalized EBITDA

Specialty Sales VolumeSpecialty Sales Volume

Unit: THB million, %

28% 33% 38% 37% 40%34%

Unit: MT

0

10,000

20,000

30,000

40,000

50,000

60,000

2015-16 2016-17 2017-18 2018-19 2019-20 2020-21

% of Normalized EBITDA

Specialty Volumes more than doubled over last 5 years. Target to increase further by more than 50% by 2025

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242

708628

1,804

2,957

15

724 735

1,803

2,970

Q4/2019 Q3/2020 Q4/2020 2019-20 2020-21

Normalized Net Profit Net Profit

6.3%18.9% 16.2% 12.8%

19.5%

30

Unit: THB million, %

Net Profit and Normalized# Net ProfitNet Profit and Normalized# Net Profit

Normalized# Net ProfitNormalized# Net Profit

-11.3%

QoQ

+159.9%

YoY

+63.9%

YE YoY

Net ProfitNet Profit

+1.5%

QoQ

+4802.5%

YoY

+64.7%

YE YoY

Net Profit and Normalized # Net Profit

NormalizedNet Profit Margin

# Normalized for forex (loss) /gain [pre-tax basis]

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Total D/E* Ratio EPS#

0.14x

0.03x0.04x

Q4/2019 Q3/2020 Q4/2020

Unit: Times Unit: THB

0.27

0.790.70

Q4/2019 Q3/2020 Q4/2020

Effective Tax Rate

2% 2%

3%

2018-19 2019-20 2020-21

Unit: %

ROCE/ROE#

14.7%

21.2% 20.4%14.8%

22.7%21.0%

Q4/2019 Q3/2020 Q4/2020

Unit: %

ROCE

ROE

Dividend Yield*

4.23% 4.41%

2.30%

2018-19 2019-20 2020-21

Unit: %

Key Financial Ratios

# YTD Profit normalized for pre-tax forex (loss) /gain

* D/E Net of cash based on Long term & Short-term debt # Normalized for forex (loss) /gain [pre-tax basis]

*From SET on calendar year basis

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Thank You

32

Please kindly provide feedback for the event & presentation for further improvement below:

Polyplex Feedback Survey

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Q1/2021 Guidance

Normalized EBITDA

The forward-looking statements reflect PTL’s expectations of its next quarter earnings. These are based on certain assumptions as on date and are subject to significant risks and uncertainties, as they could be substantially influenced by several factors which are beyond Company’s control including, but not limited to, fluctuations in foreign exchange rate, changes in key raw material prices, changes in market dynamic, impact of consideration of subsidiaries and any unexpected production down times due to machinery break down, unforeseen delays in project start up etc. The Company does not make any representation, warranty or prediction thatresults anticipated by such forward-looking statements will actually be achieved.

1,096

1,049

1,074

1,002

Q1/2020 Q2/2020 Q3/2020 Q4/2020 Q1/2021

Estimate

Unit: THB million

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DISCLAIMERS

34

This presentation may contain forward-looking statements which are based on the Company’s current expectations and estimates about the industry, the management’s beliefs and various other assumptions. These forward-looking statements are subject to various risks, uncertainties and other factors, some of which maybe beyond our control. No assurance is given with regards to future events or the actual results, which may differ materially from those projected herein.

This presentation does not constitute an offer to sell or a solicitation of an offer to buy or sell PTL stock and in no event shall the Company be held responsible or liable for any damages or lost opportunities resulting from use of this material

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Appendix

Page 36: 20210527 YE2020 PTL OppDay Presentation v1 · 2021. 6. 1. · Italy. Polyplex Strategy Grow High Value Product Mix ... 1,804 MB (2019) Sales Revenue +3.5% QoQ +0.6% YoY +7.8% YE YoY

Appendix - Polyplex Production Capacity by Product

Raw Material

Products (Unit: MT) Thailand Turkey USA IndonesiaTotal PTL

Polyplex Group

PET Resin Normal* 106,050 75,850 86,000 73,000 340,900 418,500

Recycled 43,000 - - - 43,000 43,000

Base Film PET Thin 42,000 58,000 81,000 44,000 225,000 280,000

PET Thick 28,800 - - - 28,800 28,800

BOPP - - - 60,000 60,000 95,000

CPP 10,000 - - - 10,000 10,000

Blown PP 13,645 4,392 - - 18,037 18,037

Downstream Value Added Films

Coated(Million Sqm.)

985 320 - - 1,305 1,562

Metalized 21,700 17,700 9,250 18,000 66,650 103,950

Holography 960 480 - - 1,440 5,520

Plastic Film

Manufacturing Base and Production Capacity

*For captive PET Film production

Note: The capacity includes upcoming projects 36

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Appendix - Polyplex Company Structure

Trading & Distribution

Manufacturing Entity

Polyplex India

Polyplex Thailand

Listed in National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE)

Listed in The Stock Exchange of Thailand

51.0%*

100%100%100%

EcoBlueThailand

• Recycled PET Resin (rPET)

• Other plastic material waste recycling#

Polyplex USA

• Thin PET Film• PET Resin• Metallized Film• Distribution of

Group Company products

Polyplex TurkeyPolyplex Indonesia

Polyplex Netherland

Manufacturing• Thin PET Film• PET Resin• Metallized Film• Offline Coated Film• Blown Film Line#

• Holographic Films

Trading Company• Distribution

Center

66.5%100%

• Thin PET Film• PET Resin• Metallized Film• BOPP Film#

• Trading Company

37* Including both direct and indirect holding through Polyplex (Asia) Pte ltd # Ongoing project

Manufacturing• Thin /Thick PET Film• CPP Film• PET Resin• Metallized Film• Thermal Lamination Film• Silicone Coated Film• Offline Coated Film• Blown Film Line• Holographic Film

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Appendix - Polyplex Key Differentiators & Success Enablers

Global Footprint

Diverse Product Lines

Innovative Solution Leader

Wide Value Chain Coverage

On-shore, offshore, and near-shore model enable intimacy to customers and suppliers

Timely response to market and risk diversification

Variety of choices for different needs and applications

Stabilize margin/spread with healthy mix of standard and high value products

Co-innovate new product solution with customers

Lead the industry with new product application

Stable and low-cost supply with in-house upstream PET resin production

Expanding Downstream Value Added Films coverage enable customer base expansion

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