Presentation to Investors & Analysts · 2019-09-03 · Rising cyber security and data privacy cost....
Transcript of Presentation to Investors & Analysts · 2019-09-03 · Rising cyber security and data privacy cost....
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Presentation to Investors & Analysts
Half-year 2019
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Disclaimer
• From time to time, Transnational Corporation of Nigeria Plc (“Transcorp”) and its subsidiaries (“the Group”) make written and/or oral forward-looking statements in presentations (including this presentation) and other communication. In addition, representatives of the Group maymake forward-looking statements orally to analysts, investors, the media and others. All such statements are intended to be forward lookingstatements. Forward looking statements include, but are not limited to, statements regarding the Group’s objectives and priorities for 2019,and beyond and strategies to achieve them, and the Group’s anticipated financial performance. Forward looking statements are typicallyidentified by words such as “will”, “should”, “believe”, “expect”, “anticipate”, “intend”, “estimate”, “may”, “project” and “could”.
• By their very nature, these statements require the Group to make assumptions and are subject to inherent risks and uncertainties, general andspecific. In the light of uncertainties related to the financial, economic and regulatory environments, such risks and uncertainties – many ofwhich are beyond the Group’s control and the effects of which are difficult to predict – may cause actual results to differ materially from theexpectations expressed in the forward-looking statements. Risk factors that could cause such differences include, exchange rate, marketexchange, and interest rate, operational, reputational, insurance, strategic, regulatory, legal, environmental, and other risks. All such factorsshould be considered carefully, as well as other uncertainties and potential events, and the inherent uncertainty of forward-lookingstatements, when making decisions with respect to the Group and we caution readers not to place undue reliance on the Group’s forward-looking statements.
• Any forward looking statements contained in this presentation represent the views of management only as at the date hereof and arepresented for the purpose of assisting the Group’s investors and analysts in understanding the Group’s financial position, objectives andpriorities and anticipated financial performance as at and for the periods ended on the dates presented, and may not be appropriate forother purposes. The Group does not undertake to update any forward-looking statements, whether written or oral, that may be made fromtime to time by or on its behalf, except as required under applicable securities legislation.
• The information used in this presentation were obtained from several sources that the Group believes are reliable. Whilst Transcorp has takenall reasonable care to ensure the accuracy of the information herein, neither Transcorp nor any of its subsidiaries/affiliates makesrepresentation or warranty, express or implied, as to the accuracy and correctness of the information. Thus, users are hereby advised toexercise caution in attempting to place reliance on these information and carry out further research or seek the opinion of professionaladvisers before reaching conclusions regarding their investment decisions.
www.transcorpnigeria.com
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Agenda
Time Agenda Minutes Duration Responsibility
1. Arrival/ Light breakfast 30 10:00am - 10:30am All
2. Introduction 5 10:30am -10:35am Mr. Kayode
Fadahunsi
3. Analyst Presentation 45 10:35am -11:20am Mr. Valentine
Ozigbo
4. Q & A 35 11:20am -11:55am Mrs. Owen
Omogiafo
5. Vote of Thanks 5 11:55am -12noon Mr. Chris
Ezeafulukwe
OVERVIEW OPERATING ENVIRONMENT
GROUP FINANCIAL OVERVIEW
SEGMENT REVIEW OUTLOOK CORPORATE SOCIAL RESPONSIBILITY
5 11 14 17 37 40
OVERVIEW
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With an Aggressive Growth Agenda
300,000Shareholders with commanding presence in the Power, Energy & Hospitality sectors.
Listed Company with approximately
Improving Lives, Transforming Nigeria
With a
Purpose
of
Deeply rooted values are
the 3Es of
Execution, Enterprise and
Excellence
Diversified conglomerate
www.transcorpnigeria.com
About Transcorp
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Operational Efficiency
Growth Capacity
Sound Corporate
Governance
Return on Investments
Our Investment Philosophy
www.transcorpnigeria.com
Long-term
Shareholder ReturnsSocio-economic
Impact
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• c.972MW installed capacity gas fired
power plant
• Present available capacity of 596MW to
increase rapidly
• Medium term capacity target of
2500MW
• Transcorp Hilton Abuja: Nigeria’s
foremost hotel and the leading business
hotel in Africa - 670 rooms, 5 hotel
• Transcorp Hotels Calabar – 132 rooms,
3 hotel
• Medium Term: Expansion to Lagos
• Owner/operator of OPL 281 oil block
• Estimated Oil Reserve – 189.73mn
• Gas – 377.48Bn Std Cubic Feet
• Exploration commences in 2019/2020
www.transcorpnigeria.com
The Group at a Glance …
With eyes set on generating 25% of the total power
requirement in Nigeria, Transcorp Power Limited
remains a leader in the Nigerian power sector.
Through ownership of choice assets and provision
of exceptional service, Transcorp Hotels Plc is
redefining hospitality standards in the continent
while remaining truly African.
We are on a mission to ramp up domestic
upstream capacity
83%
Ownership
50.01%
Ownership
100%
Ownership
Transcorp is
committed to
creating value and
making socio-
economic impact
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PHASE THREE2019 - 2025
PHASE TWO2012 - 2018
PHASE ONE2004 - 2011
▪ Transcorp was
incorporated in 2004
▪ Acquisition of Transcorp
Hilton Abuja in 2005
▪ Listed on the Nigerian
Stock Exchange in 2006
▪ Acquisition of Transcorp
Hotels Calabar in 2010
▪ Heirs Holdings becomes
core investor in 2011
▪ Transcorp Ughelli Power emerges
preferred bidder for Ughelli Power
Plc (UPP) in 2012.
▪ Successful takeover of UPP in 2013
▪ Execution of management
agreement with Hilton for Transcorp
Hilton Ikoyi in 2013
▪ Execution of Production Sharing
Contract on OPL 281 in 2014
▪ Management Agreement for Hilton
Port Harcourt executed in 2014
▪ Transcorp Hotels IPO in 2014
▪ Awarded the Most Compliant Firm
in Nigeria by the NSE in 2014
▪ Transcorp Hotels N20bn bond
issuance in 2015
▪ Merger of TUPL and UPP as
Transcorp Power Ltd in 2015
▪ Commenced full Upgrade
Project for Transcorp Hilton
Abuja in 2016
▪ Transcorp Power
commissioned GT 15 a
115MW Gas Turbine in 2017
▪ Decision to divest from
Teragro Fruit juice
concentrate plant in 2017
▪ Closed the year 2018 with
highest profits in two Group
companies
▪ Conclusion of additional land
acquisition for Transcorp
Hilton Ikoyi
▪ Surpassed BPE-set minimum
performance target for
power generation.
POWER
▪ Focus is to increase power
generation through
acquisition of additional
power plants (Afam plant)
▪ Look out for opportunistic
investments in renewable
energy and off-grid
solutions
HOSPITALITY:
▪ Sweat existing assets
▪ Expand into new businesses
and locations
OIL AND GAS:
▪ Commence production of
oil and gas in OPL 281
▪ Acquisition of new oil & gas
assets
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Our Journey
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Management Team
www.transcorpnigeria.com
Valentine Ozigbo
President/CEOHelen Iwuchukwu
Group Company Secretary
Napoleon Esemudje
Director of Resources
Christopher Ezeafulukwe
Executive Director
Mutiu Bakare
Group CFO
Chinweugo Nwafor
Head, Internal Audit
SUBSIDIARY CEOs
Owen Omogiafo
MD/CEO, Transcorp Hotels Plc
Kalyana Sundaram
MD/CEO, Transcorp Power Limited
Chuma Mgbojikwe
GM, Transcorp Hotels CalabarKevin Brett
GM, Transcorp Hilton Abuja
OPERATING ENVIRONMENT
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Nigeria is poised to maintain its position as the largest economy in Africa
_ _ _ _ _ __
198 million4
populationMedian Age of 18.3
Years
$2,396
GDP
Per Capita
60.6%3
Electrification rate
as a % of
Population
$397 billion
2018 GDP
107th Country in
terms of Highest
proportion of
Internet Users
23.1%
Unemployment rate
Source: https://answersafrica.com/largest-
economies-africa.html
Large and Growing Market &
Workforce
87%2 (2019) Mobile
penetration rate
7th Largest country globally
18.3 Years
Median Age
Investment Gateway to West Africa
c.60% Of the West African market
No.1 GDP in Africa
50%Of ECOWAS manufacturing capacity
GDP 2018US$ billions
1.8mn bpd
Average Oil
production in 2018
Source: 1NBS/UN; 2JUMIA; 3WEF; 4NPC
Key Indicators
www.transcorpnigeria.com
198m 4 Population
35
71
72
96
101
103
219
313
331
594
Libya
Kenya
Eithopia
Sudan
Morocco
Angola
Algeria
South Africa
Egypt
Nigeria
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Inflation rate has been decreasing; 11.22% by the end of June 2019
Key Macroeconomic Indicators
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13.5
10
15.33
31.07
0
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MPR TreasuryBill PrimeLending MaxLending
Major Money Market Rate Trend (2010-2019)
Source: CBN, NBS, Q1 2019 GDP Report
GROUP FINANCIAL REVIEW
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June 2019 June 2018
N’Million N’Million
Revenue 37,762 54,089
Gross Profit 17,280 24,573
Operating Profit 11,168 17,347
Finance Cost (6,118) (5,403)
Profit After Taxation 4,614 10,875
Profit Before Taxation 5,050 11,944
Non-Current Asset 204,449 204,543
Total Liabilities 198,146 191,787
Current Assets 102,939 92,596
Income
Statement
Statement of
Financial
Position
June 2019 Dec 2018
N’Million N’Million
Total Equity 109,243 105,353
Financial Highlight
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Group Revenue Breakdown
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COMMENTS:
• Revenue from the power business remains the largest contributor (75%) to the
group’s revenue. Although income from the power business fell during the
period under review due to gas and transmission issues, a number of actions are
being taken to address these issues.
• The hospitality business recorded an increase of 16% year-on-year in revenue.
Transcorp Power Limited 28,459 75% 46,082 85%
Transcorp Hotels Plc 9,303 25% 8,008 15%
June 2019 June 2018 % Contribution
Total 37,762 54,090
Revenue
% Contribution
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SEGMENT REVIEW: POWER
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Power - The sector is facing significant challenges globally
Segment Review – Power
www.transcorpnigeria.com
Cost
Revenues
▪ Revenues have been under pressure from the rise in renewables; in 2018, renewable energy*
accounted for almost one-third of net new power capacity around the world.
Increasing cost due to;
▪ Replacing, maintaining and upgrading energy and water infrastructure.
▪ Rising environmental compliance costs.
▪ Investment in innovative products and services.
▪ Rising cyber security and data privacy cost.
Change in consumption pattern and industry dynamics due to;
▪ Maturing of renewable energy technologies
▪ Proliferation of distributed energy.
▪ Falling cost of battery storage.
▪ More empowered consumer behavior are shifting how we produce use and value trade electricity.
*International Renewable Energy Agency (IRENA) 2019
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The Nigerian power sector needs significant improvement
46%*Population that has no access to grids
1.4/7.0WEF’s scoring in terms of quality of electricity supply
Ranked 136thout of 137
countries in terms of Quality of electricity supply
0.14kWh Per
Capita
• 91 million Nigerians do not have access to electric power
• A far cry from other African oil producing States’ scores. Egypt has a score of 5.0 while Algeria has a score of 4.2
• Its sub-Saharan Africa counterpart, South Africa was ranked 97th
• India, its peer in the Emerging Market category, was ranked 80th
• … lags peers’ as South Africa has 4.14kWh per capita, Indonesia has 0.82kWh per capita and Kenya has 0.17kWh per capita
Source: WEF – World Economic Forum: The Global Competitive Report; Ernst & Young; *RenCap
Segment Review – Power
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Factors affecting our power business
www.transcorpnigeria.com
GAS SUPPLY• There has been inadequate supply of gas to TPL since late last
year;➢ The NGC closed the gas shutoff valve in Q1 2019 to TPL as a
result of persisting low gas line pressure.➢ Gas offtake to TPL was restricted as a result of insufficient
gas from NGC.➢ Ughelli East gas plant was completely shut down for
statutory maintenance from 26th May to 2nd June 2019.➢ NGC 18-inch gas pipeline was vandalized in June 2019.
• The gas supply volume was reduced by more than 50% in the firstquarter of the year before this later improved towards the end ofsecond quarter
NBET N701BN PAP• The Payment Assurance Programme (PAP) window continues.
• TPL was paid up to 80% of its invoice as guaranteed under thescheme in Q2 2019.
TRANSMISSION• There were several instructions from NCC requesting TPL to
reduce generation due to load rejection by the Discos.• In Q1 2019, TCN lost the 330KV line G3B due to vandalism,
which greatly limited TPL’s ability to evacuate generatedpower for about 5 weeks.
• 75Mx reactor engulfed by fire at the Benin Transmission inJune 2019.
• A total of 8 grid collapses were recorded from Jan 2019 todate. This further reduced power transmission to the grid.
TECHNICAL ISSUES• Funding challenges because of delayed payment of
receivables• High cost of delivery resulting from high exchange rate
STABLE FOREX• Improved access to Forex as means for debt service and
rehabilitation of turbines.
• Gains from Forex for financing activities increased by 140%year-on-year due to the relative stability in the exchangerate.
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Way Forward
www.transcorpnigeria.com
▪ We expect the situation with the gas supply to improve going forward
based on the targeted activation of the reviewed Gas Supply &
Aggregation Agreement and optimization of the opportunities therein.
Also, we are exploring additional affordable gas supply sources.
▪ We are currently exploring opportunities created by the Eligible Customer
regime initiated by the Federal Government. This would allow us to sell
power directly to certain end users who meet the criteria set out in the
governing regulation. By so doing, we can put to good use, our stranded
capacities.
▪ With regards to our outstanding receivables from NBET, we are currently
pursuing measures to fast track payment. Also, there is an ongoing
discussion on modalities for the repayment of legacy debt.
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Segment Review-Power
www.transcorpnigeria.com
June 2018
N’Million N’Million
Revenue 28,459 46,082
Gross Profit 10,280 18,701
Operating Profit 8,641 16,074
Interest Expenses 3,082 4,209
Profit before tax 5,559 11,865
Total Assets 151,656 150, 380
Total Equity 27,480 22,591
Total Liabilities 124,176 127,789
N’Million N’Million
*Returns on Average Assets; **Returns on Average Equity
December 2018June 2019
June 2019
Income
Statement
Statement of
Financial
Position
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Segment Review – Power
www.transcorpnigeria.com
652 644 579 587 563531 469 433304 333
Q2 '18 Q3 '18 Q4 '18 Q1 '19 Q2 '19
Available Capacity Vs Generated Capacity (MwH)
Available Capacity (MwH) Generated Capacity (MwH)
78% 80% 80% 81% 82% 81% 79% 78%62% 69%
80%75%
52%49%
54% 60% 66% 65%
Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19
Capacity Utilization Vs Gas Consumed
Capacity Utilization Gas Consumed (Rebased)
Improving Recovery
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Segment Review – Power
Transcorp is regaining its position* as the topmost Genco…
444371 350 322 291
Jan-19
382 341 321 303 281
Feb-19
*The Metric used here is Average Generated Capacity MwH
459385
328 307 292
Mar-19
419305 302 299 292
Apr-19
430333 291 284 267
May-19461
332254 246 228
Jun-19
For the first half of the 2018 financial year, Transcorp ranked number 1 in power generation.
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SEGMENT REVIEW: HOSPITALITY
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One of the fastest growing sectors globally
RecreationFood &
BeverageLodging
Travel &
Tourism
• The hospitality sector is one of the fastest-growing sectors in the world. The sector hascontinued to thrive largely due to travel and tourism activities, which keep hospitality afloat,despite the tough economic times that have threatened other sectors.
• While the global hospitality industry has largely been dominated by a few key cities ordestinations considered most desirable for global travel (e.g., New York, Paris and London),global travelers have started to head to new destinations. This has led investors to identifynumerous opportunities in secondary markets, reflecting a broader search for higher-yieldinvestments.
$86bnGlobal revenue
$7.6trGlobal revenue
$570bnGlobal revenue
$70bnGlobal revenue
Source: Statista, UNWTO,WTTC, Q1 2019 GDP Report, *Figures are for the Nigerian Hospitality sector
Segment Review-Hospitality
www.transcorpnigeria.com
Hospitality
Industry Figures
$1.7 TnTotal Export earnings from International
Tourism as at June 6th, 2019
5,372.2*
1.8bn
30.3%*Year-on-Year growth in Accommodation
and Food Services
Expected International Travelers by 2030
Expected number of new jobs to be created by 2029
GLOBAL
INDUSTRY
FIGURES
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Segment Review-Hospitality
www.transcorpnigeria.com
Total Export Earnings From International Tourism
$1.7
Trillion
International Tourism proportion in world service export as at 6th
of June, 2019
29%
Source: UNWTO, WTTC
International Tourist Arrivals Grew by 3% in the Americas
International Tourist Arrivals Grew by 4% in Africa
International Tourist Arrivals Grew by 8% in
the Middle East
International Tourist Arrivals Grew by 8% in Europe
Global International Tourist Arrivals Grew by
4% in Q1 2019
Travel & Tourism created 1 in 5 jobs within the past 5 years.
One of the fastest growing sectors globally
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Segment Review-Hospitality
Millennials
Millennials are poised to take the hospitality industry by storm as globally connected and curious travelers. 19%* of travelers in 2018 were Millennials, a number which is projected to even grow further.
Rising middle class
According to the WTTC,there will be 2+ billionnew middle-classconsumers within thenext 20 years...translating into moretravelers visiting morehotels around the world.
Rising middle class population and demographic changes, among key factors
www.transcorpnigeria.comSource: *STR Global Research
Globalconnectivity
Digital technology is bringing places and experiences closer to people than before
Digital media influence
The prolific use of social media apps and the rise of social influencers have engendered new behaviors amongst millennials.
Globalconnectivity
Digital technology is bringing places and experiences closer to people than before
Digital media influence
The prolific use of social media apps and the rise of social influencers have engendered new behaviors amongst millennials.
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Segment Review-Hospitality
www.transcorpnigeria.com
June 2019 June 2018
N’Million N’Million
Revenue 9,303 8,008
Gross profit 6,999 5,892
Operating profit 2,795 2,018
Interest expense (1,976) 6
Profit after tax 557 1,383
Profit before tax 819 2,024
Total Asset 113,968 111,277
Total equity 58,018 57,461
Total liabilities 55,950 53,816
June 2019 December 2018
Income
Statement
Statement of
Financial
Position
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Segment Review
www.transcorpnigeria.com
7,608
6,200
8,008
9,303
Jun '16 Jun '17 Jun '18 Jun '19
Revenue (N’ Million)
• Revenue from the hospitalitysegment grew at a CAGR of 5%during the last 4 years.
• In compliance with IAS 28, the hotelbusiness started to expenseborrowing cost during the periodunder review, thus accounting for areduced PBT.
1Returns on average equity
2,417
949
2,018
2,795
Jun '16 Jun '17 Jun '18 Jun '19
Operating Profit (N’ Million)
Continuous Growth in our Top Line…
2,746
1,097
2,024
819
Jun '16 Jun '17 Jun '18 Jun '19
Profit Before Taxation (N' Million)
Impact of Expensed Finance Cost
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Segment Review – Hospitality
www.transcorpnigeria.com
62%
69%
62%
70%
59%
65%
Jan '19 Feb '19 Mar '19 Apr '19 May '19 Jun '19
Occupancy Rate
72,928 67,819 75,649
81,044 77,250 88,892
Jan '19 Feb '19 Mar '19 Apr '19 May '19 Jun '19
Average Daily Rate (ADR) (N)
Average Daily Rate saw a
major increase in Q2 2019
39,400 42,821 43,622
56,691 45,811
57,866
Jan '19 Feb '19 Mar '19 Apr '19 May '19 Jun '19
Average Revenue Per Available Rooms
(N)
We remain the leader in the hospitality industry...
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Awards
www.transcorpnigeria.com
For the 4th Consecutive year,
Transcorp Hilton Abuja emerged the
winner of the World Travel Awards
2019 in the following categories:
· Leading MICE Hotel
· Nigeria's Leading Hotel Suite
· Nigeria's Leading Hotel
· Nigeria's Leading Business Hotel
· Africa's Leading Business Hotel
Trip Advisor
2019 recipient of a 2019
Certificate of
Excellence – This
honours hotel that
deliver great service
consistently.
Trip Advisor
2019 Travelers Choice
Awards – Travelers
Choice Awards are the
highest honour from Trip
advisor, in honour of
truly exceptional
businesses
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SEGMENT REVIEW: OIL & GAS
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Key Energy indicators in Nigeria
Key insights
1
2
3
4
Global crude oil prices is increasing
due to the continued OPEC supply
cuts and US Sanctions on Iran and
Venezuela
Nigeria’s average daily crude oil
production is lower than the 2.3m
bpd OPEC benchmark.
Regulated prices for PMS imposed
by the federal government for the
downstream sector has hampered
economics of trade
Global LNG export capacity is rising.
The current top seven exporters of LNG
in the world are Qatar, Australia,
Malaysia, Nigeria, Indonesia, Algeria
and Russia.
XXXXXX
$64.2Average brent crude oil price for the month of June 2019.
10.7%Industry Contribution to Nigeria GDP
>$26bnTotal industry Revenue
$30bnEstimated total lost income from gas flaring between 2006 and 2015
40-50Marginal undeveloped fields are available for bid after the election
1.8mn bpdAverage production for the year 2018.
5,500bcmProven Crude Oil reserve in Nigeria
m
Total barrels of Crude Oil Exported in the year 2018
Segment Review – Oil & Gas
www.transcorpnigeria.comSource: OPEC, Ycharts, Africa Oil and Gas Report, International Energy Agency
686mn
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01
0203
04
Price fluctuations and
price ceilings
Fluctuation in global oil prices in 2016 hadits toll on the external reserve of thecountry and also dampen investorsinterest in the upstream sub sector.
The price ceiling placed by thegovernment for PMS, being the dominantcommodity in the downstream sub sectorhas hampered the economics of tradeas prices are not determined by marketforces.
Militant insurgence/pipeline
vandalism
The occasional agitations by indigenesin the Niger Delta due toenvironmental and political reasonshas remained a challenge for the oiland gas industry. However, recenttimes have seen a relatively peacefulatmosphere.
Delay in PIB
The continued uncertainty surrounding thePetroleum Industry Bill (PIB) has also slowedthe exploration and production scene inNigeria. The long-promised sector reformhas been repeatedly delayed, creatinguncertainty among investors with respect tothe future legal and fiscal environment.
Lack of Infrastructure and
Investment
Inadequate infrastructure in form oftransportation and distribution networkfor natural gas remains a huge challengeto the development of the domestic gasvalue chain.
Key industry
challenges
The oil and gas industry in Nigeria continues to face several challenges. . .
Segment Review – Oil & Gas
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Segment Review – Oil & Gas
Estimated Oil Reserve and Gas are 189.73mn Million Stock Tank Barrels (MMSTB)and 377.48 Billion Standard Cubic Feet (BSCF) respectively.
Partnerships
Identification of competent and
capable technical/financial partners
to jointly develop asset
Commence funding considerations
and financing options for OPL 281 Work
Programme obligations
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18
-2019
Drilling Expansion
Site Survey and Location Preparation
Community Engagement and conclude
FTOs with Host Communities
Complete drilling of Obote-2X Well.
Increase production of the
hydrocarbons (oil & gas) depending
on drilling results;
Expand gas productions
Conversion of OPL to OML2019 -
2020
2021 -
2022
Production
Acquire 3D Seismic Data
Drilling of second well
Complete all Work Programme obligations
2020 -
2021
OUTLOOK
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Q3 2019 Outlook
Hospitality
Power
Business
ADR (N) 82,395 84,275
Occupancy(%) 65% 66%
Rev Par (N) 53,456 55,782
Average (MW) Available Capacity
563 588
Average (MW) Generated Capacity
333 394
Q2 2019 Actual
Q3 2019 Target
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Strategic fit
Gas Availability
Sufficient EvacuationCapacity
Cost-efficient Capacity Recovery
Eligible Customer Opportunity
01
02
0304
05
Afam Acquisition: Another emerging success story
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CORPORATE SOCIAL RESPONIBILITY
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▪ Hypertension is a major health risk for the Nigerian workforce. Transcorp partnered with Avon HMO during its 5km walk/run to raise awareness about this chronic illness and to empower the general public on its prevention and encourage a healthy lifestyle amongst all.
▪ Transcorp Power is committed to investing in human capitalacross the communities where we do business. Withsignificant investments in Transcorp Power Staff School, qualityeducation is provided to children within the communityenabling them to compete favourably with the best across thecountry. Here, the President/CEO, Transcorp presents a plaqueof recognition to a student of the Transcorp Power staff schoolwho emerged as the overall best student in the 2018 BasicEducation Examination. New classroom blocks were also builtfor the school.
▪ Transcorp Hotels Calabar extended some hospitality to thesenior citizens of Pope John Paul II Good Samaritan Home forthe aged in Calabar and provided food and clothes toimprove their standards of living.
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2
3
Corporate Social Responsibility
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▪ Transcorp Power has sustained its investment in the youths of its operating environment, Ughelli through its Skill Acquisition and Empowerment Programme. The youths are trained on skills that empower them to contribute to the growth of their community as well as earn sustainable income. Some of these skills include refrigeration, welding and air-conditioning repairs.
▪ In line with our purpose of improving lives, Transcorp Hilton Abuja empowers women with sewing skills and basic entrepreneurial skills through its Business Empowerment Program for Women to empower them start up small businesses and intern empower the next set of women. Here, Owen Omogiafo, MD/CEO Transcorp Hotels Plc presents the certificate of completion to the 4th graduating set
▪ Transcorp management team, in line with its commitment to improve lives and transform Nigeria, partnered with the Nigerian Stock Exchange (NSE) to make the 6th edition of NSE’s Corporate Challenge a huge success.
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4
5
Corporate Social Responsibility
www.transcorpnigeria.com
5
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▪ Transcorp Hilton Abuja spread its warmth of hospitality to kids of Shape Community who had no access to adequate school supplies were empowered with school bags and school kits from Transcorp Hilton Abuja to create an enabling learning environment
▪ Transcorp Hilton Abuja remains focused on empowering women via various channels. Recently, 6 Women of Shape community were empowered with 100 bars of recycled soap from Transcorp Hilton Abuja to enable them start small scale businesses that will provide some income to keep their respective families afloat
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Corporate Social Responsibility
www.transcorpnigeria.com
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QUESTIONS
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Contact: Mutiu Bakare
Adekunle Elumaro
Ejike Alumona
Thank You