Indorama Ventures Public Company Limited

Hello, I would like to welcome everyone to the Opportunity Day today. I am very pleased to present the results of the Indorama Venture in the second trimester of the year 2568. I would like to make it clear that in this presentation, there are images and voices that can be reviewed and reviewed by the company's website. We have set the standards and standards in the future of the industry and the financial industry. From our analysis and the information that is in this, after the presentation, we will open the opportunity for questions and answers. Starting from the construction of the second trimester, we have a total revenue of more than 3,500 million US dollars, which increased by 2% from the previous trimester. This is due to the increase in sales after the return to normal conditions. After the closure of the supply chain, according to the plan, the impact of the cold weather in the previous trimester. Adjusted EBITDA increased by 20% from the previous trimester at 330 million US dollars due to the increase in sales volume and the recovery of the CPEC business after the planned recovery, as well as the improvement of the economy while Indovindia is still under pressure from the decline in profit. and higher raw material costs, as well as the installation of LED and Kamasari factories as planned. The net income from the first half of the year is still as strong as 618 million baht, with a net income of 111 percent, reflecting the financial and financial management aspects that focus on maintaining the company's state of the art. In this time frame, the company has begun to top the portfolio of EOEG portfolio and managed to buy a stock of 24.9% in the EPL and finished to increase the business of India. For the highlights of each business group, Combined P&T has EBITDA at 281 million US dollars, even though the EOEG market in the US is still falling. Indovida is still moving forward with support from Egypt and the Philippines. At the same time, the company bought an EPL stock to strengthen the Indian platform. The Indo-Venetian economy is under pressure due to the weakening of the essential polyols and raw materials. The higher the price of energy and the higher the price of antifungal drugs, the lower the impact on the virus. At 48 million US dollars, the company is able to reduce the impact of the disease. by saving local funds or fixed costs at 51 million baht, increasing the value of assets and better management. The fiber business has a strong infrastructure with an increase of 21% in EBITDA from the recovery of the ingredients. The performance in the second phase, according to the company's business group, In the second trimester of this year's company, the company's report on adjusted EBITDA at 330 million Baht decreased by 11% compared to the same period last year. This is mainly due to the normal return of MTBE profit from the previous year's high error rate, which affected the structure of the CPEC group, as well as the profit of the Indovinda group that fell. However, these challenges are partly due to the saving of local funds through industrial development and the strong performance of the lifestyle fiber business under better economic conditions. Compared to the high income, EBITDA increased by more than 20%, reflecting the strong recovery received from each business group. The CPEC business has received support from the Ministry of Industry, Food and Rural Affairs, the Ministry of Industry, Food and Rural Affairs, and the Ministry of Industry. The Indovida or packaging business has a better performance from the strength of the market, while the Indovina has a lower performance from the higher palm oil cost. The profit margin is lower than the previous year. The Fiber business is still the same even though the performance of the lifestyle group is lower. Thank you. 4.1% contrast to the different phenomena in each region. In the US region, there is a weakening effect from MTBE and the weakening effect of WINDOWINIA from the plan and the reduced profit. The European region is facing higher energy costs and poor PTT markets. For Asia, there are outstanding components with a boost from a better profit margin from the Lifestyle Fiverr business group. Comparing with the previous trimester or Qon Q Adjusted Villa, it increased by 20% with a boost from a better integrated VT market, better recovery after the lockdown and reduced energy consumption. COVID-19 America adjusted EBITDA to 66% in the first half of the first half of the year by recovering from the recovery from the recovery from the recovery from the recovery from the recovery from the recovery from the recovery from the recovery from the recovery foreign foreign In the second trimester, the combined P&T business has adjusted EBITDA at 191.3 million, increased by 52% Q1Q, but decreased by 7% year-on-year. The amount of goods or end product sales increased by 4% from the previous trimester, while the total sales amount of CPET increased by 3%. When it comes to the return to the normal state of the economy following the plan, however, of one of the P&T factories. The decrease in EBITDA compared to the same period of last year is mainly due to the abnormal rate of MGBE. From the normal high in the previous year, the integrated market of EO and EG on the amount of EO and EG that decreased, the duration of the NDC campaign, and the increased energy investment, Compared to the past, the development has improved due to the improvement of the industry and the reduced energy consumption. The Indicate P&G business, which is a main business with a share of over 160 stores in the U.S., has increased by 37% due to stronger ingredients, increased sales performance, and reduced investment even though the sales performance decreased by 9% compared to the previous year. Intermediate Chemicals has a strong recovery rate of 28 million USD compared to 4 million USD in the previous trimester. The Specialty Chemicals Group has improved by 4 million USD from 1 million USD, with a boost from the increase in the amount of NDC sales, despite the increase in the pressure from industry and uncertainty. The CPEC economy is still strong from the benefits of global labor and the transformation of the economy. It is expected that the amount of sales will recover from the progress of the NDC campaign. as well as the start of a new cycle of recyclables in India. In August, the company established another important step by being able to recycle PET bottles after consumption. One hundred and fifty million bottles. Since the year 2554, we have been recycling more than 20 bottles in 11 countries. With the support of strong companies, we can recycle as many as 789 bottles per second. This achievement reflects our confidence in the industrial economy and investment in the industrial development and education for cooperation. The result is significant, avoiding carbon dioxide emissions of up to 3.8 million tons, waste that enters the waste dump of 2.8 million tons, and giving the knowledge to nearly 1 million people through our Waste Hero project. The important thing is that our operation has been clearly developed in the first 9 years in recycling 50 million bottles. It took only 3.5 years to increase to 100 million bottles. and spent 2 years to add another 50 million bottles, which reflects the increasing amount of recycled materials around the world and our ability to expand production at a rapid pace. This is the beginning, not the end. We will continue to expand production, develop technology, recycle, and create cooperation with new factories in India India India India India India India India India India of the economy. The impact rate from the amount of bottles that have been discontinued in 2017 has increased to the second-highest in 2018 at 42.5%. from 24 million US dollars in the 2nd trimester of 2017 to 27 million US dollars in the 2nd trimester of 2018. Indovida still has a stable business base and growth potential on the 27th of November, when we ended the 24.9% stock purchase in EPL company, which will receive full income from the 3rd trimester of 2018 onwards. For the Indovida business, in the second trimester of this year, it remains stable in the trend that focuses on customers as a center of innovation and sustainability. High-value-added products have an average income of 81% with a strong adjusted EBITDA of 17%. The sales volume increased by 4% from the previous trimester, with a strong sales growth in the crop solution and HPT, and a strong pressure mainly from which is expected to return to normal after the end of the year. The essential business, which is thought to be 119,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000, Therefore, it is expected that it will gradually improve according to the recovery of Wattachak. This portfolio is closely related to the production of HVA to encourage cooperation in the implementation process. The company will also emphasize the improvement of the organization or self-help. by being able to reduce the investment of 14.3 million baht this year compared to the previous year, even though the capital will increase in 2018 due to the reduction of the debt. which is the only program that has occurred, along with the impact from the exchange rate and the impact from the price of palm oil to the product. But we expect that the interest rate will be reduced in the second half of the year, which will affect the interest rate by the same period as the previous year. In the second trimester of this year, the GDP of the Fiber business group is at 47 million US dollars, which increased by 20% compared to the same period last year. This growth was accompanied by the management and financing of PSF from 98 million US dollars to 135 million US dollars in the second trimester of 2017. . . . . . After the end of this trimester, the mobility business will be able to finish at 20 million US dollars, increasing 49% from the previous trimester. The main factor comes from the adjustment of the price, reducing the cost of living and reducing the energy cost in Europe. The amount of sales remains the same, even though the demand from the engine manufacturers or OEMs in Europe will drop. and the economy has been clearly affected by the decline in production. Especially in the company's market, the Hygiene Group has a net profit of 9 million US dollars, down by 27% from the previous trimester. Due to air pollution in Europe, and some of the impact was caused by the increase in sales in the US economy, which began to see signs of the beginning of the latest financial crisis. In general, even though there is a strong pressure on the economy, In the first half of the year 2018, the company had a fresh fund from a total of 618 million THB, which is considered to be a changeable figure. It will be a fresh fund. which is strong at 111%. In this amount, 404 million Baht is spent on maintenance and financial investment, which includes the loan that must be paid to the shareholders, and the net profit for the shareholders is low, resulting in a free cash flow for the shareholders. The company has 214 million baht, which helps to reduce the debt from 7.8 million baht to 6.96 million baht. The company pays the net profit to the shareholders, which is 53 million baht, and pays the debt to For the total growth of 28 million US dollars in the Recycle project, the investment in this part is still related to the project at Symoxville and other projects, including the purchase of the EPL project worth 221 million US dollars in the second quarter of 2015. which increases the property tax to 7.36 billion Baht. The company's executive committee is still focusing on creating a free cash flow and implementing the goals to reduce the company's property tax by expecting to receive income from land and property sales related to the construction of property tax. 190 to 200 million baht in the second half of 2018 to 2019. In this period, the company has earned profits from the assessment of the new land value from the tax amount of 314 million baht to the value of the market value. This program will be a program that is not related to the cash flow and does not affect the management or cash flow of the company. We will continue to be confident in increasing the benefits of managing the exchange rate. For the past 2 years, the exchange rate has been at 92 days. We are working hard to reduce the daily rate gradually. We have set a long-term goal of 83 days for this year. 2,518 and 78 days in the year 2,570. At the same time, we are still maintaining the methods of investment by focusing on the necessary projects and potential for growth. An important example is the collaboration with the company Varun Beverage in the construction of a new recycling factory in India, which has been completed in the past half year of 2018 and 2019. and the year of 2570. The capital for the development in the second half of the year of 2058 is a deficit, as it does not include the income from the sale of land in Canada and Rotterdam of $85 million or $3 million, and there is still additional income from the sale of land in Australia, which is expected to occur in the year of 2059. The capital for this year is high, as it is closed. According to the plan of Packer and EOEG factory, which will be launched every 4 years, and POMTB factory, which will be launched every 5 years. In addition, it includes the purchase of 24.9% shares in EPR company worth 221 million baht. At the end of January 2021, the final interest rate has been increased to 1.39 times the adjusted net debt-to-equity ratio, and the interest rate has been increased to 1.27 times the adjusted net debt-to-equity ratio, reflecting a strong financial situation. Our refinancing plan is still in progress, with a comprehensive refinancing plan. 2,300,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000. In addition, in the first half of the year 2018, we still managed to raise the interest rate. to invest in the expansion and refinance of the project, with a profit of 0.25% from the development of the land in Thailand, which will help to save about 4.2 million Baht per year. While the U.S. dollar-Thai baht cross-currency swap will help save 12-14 million THB per year, the current situation is still unstable with fresh money and a trust fund that has not yet worked to use up 1,800 million THB, making it difficult to hold the money when compared to the market situation. And for the development of all plans and objectives for the company's growth, For the latest interest in the U.S. tariff, it is expected to have a positive impact on the company. Currently, the government has kept interest rates at least 10% from all countries and increased to 15% or more for countries with positive sales, which is good for our stock market by the margin of Prasailin and PTA in the government. . . . . . foreign foreign foreign foreign foreign I would like to conclude the important lesson in the second trimester of the year 2018. In the second trimester, there is a better development from the first trimester, with a stronger business management of CPET group. after the closure of the plant according to the plan, and the relief from the impact of the weather that occurred at the beginning of the year. C-PET has benefited from higher sales levels and better integrated PVG conditions, while the Intermediate Chemicals project has recovered from the closure of the cracker and EOEG plant in the province, and is expected to receive full benefits in the third trimester. Indovindia is facing a short-term pressure from the low-income essential group due to the increase in PTO resources, low-income margins, and plans to close the supply chain. However, it is expected to improve in the third trimester due to the short-term crisis. The PTO price has begun to relax and has no impact on the supply chain. The private market closed Fiber from the short-term. The lifestyle has been affected by the reduction in sales and the reduction in energy consumption in Europe. It is expected that the third trimester will still be milder in Europe during the holiday season. And there are consequences from taxes and global trade. Local-to-local business model is still an important strong point, which helps reduce the demand to trade across the border and increase trade efficiency in business development. In addition, we are still following the long-term policy by purchasing shares in the EPL company in March, which will begin to know the full structure of the trimester from the beginning of trimester 3. Thank you. Next, I would like to enter the Q&A session.

yeah you can hear me yes please okay so i got some questions here i believe how would the potential cut in u.s corporate tax benefit the company maybe you can speak in thai yeah So basically the beautiful bill of US Trump is still we are assessing the impact. It should certainly benefit, but we don't have the detail. It allows more expenditure on R&D deductible. But we are still awaiting the details for the same. But as you know, 50% of our EBITDA comes from U.S.

So it will benefit and will let you know as the situation gets clearer. This one, the company is evaluating. However, it should be good for the company, whether it is in terms of R&D expenses. As we all know, about 50% of the company's EBITDA comes from the United States. If there is more information about this, we will inform you. There will be an update to let you know.