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Analyst Conference Q1/2012

Analyst Conference Q1/2012

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Analyst Conference Q1/2012

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  1. Analyst ConferenceQ1/2012 April 24 , 2012

  2. Agenda • Q1/2012 Situation • Consolidated Financial Results • PVC Outlook Q2/2012

  3. I. Q1/2012 Situation

  4. Q1/2012 Market Highlights • PVC demand in Thailand improved due to seasonal demand and recovery from severe floods. • PVC supply remains limited from weak domestic demand in China, shortage of VCM supply in S.E. Asia and Japan, very low level of A-PVC operating rate. However, A-PVC have start to emerge in the market in late quarter due to attractive of higher PVC price. • PVC price improved due to cost-push resulting from risingenergy, Ethylene and VCM.

  5. Vinyls Market and Price Movement US$/MT Ethylene PVC VCM EDC Q2 ’09Q3 Q4 Q1’10 Q2 Q3 Q4 Q1’11 Q2 Q3 Q4 Q1’12 PVC Price 719 883 853 966 993 893 983 1,025 1,176 1,098 920 954 PVC-EDC 407 423 483 481 466 437 467 516 637 626 591 658 Gap (US$/MT) PVC-EL (23) (147) (203) (300) (95) (10) (65) (213) (115) (62) (140) (297) Gap (US$/MT)

  6. PVC Resin Sales Volume KMT YTD 185 173 ….. increased 1% Q-o-Q while decreased 6% Y-o-Y mainly from the recession of global economic………… 27% 27% 6 % Y-o-Y 30% 28% 43% 45% MT 185 173 174 171 156 27% 26% 27% 27% 28% 1% Q-o-Q 30% 28% 36% 36% 31% 6% Y-o-Y 45% 43% 38% 37% 41% Regional Sales = Vietnam & Indonesia

  7. PVC Resin Sales Volume MT 745 713 697 685 26% 29% 28% 27% 38% 33% 34% 37% 173 40% 37% 36% (3 Months) 35%

  8. II. Consolidated Financial Results (Preliminary & Unaudited)

  9. Consolidated Revenue from Sales Million Baht YTD .. …….Up 11% Q-o-Q from higher selling price while down 5% Y-o-Y mainly from the economic slowdown…………. 5 % Y-o-Y Million Baht 11 % Q-o-Q 5 % Y-o-Y

  10. Consolidated Revenue from Sales Million Baht (3 Months)

  11. Consolidated EBITDA Million Baht YTD …. increased 191% Q-o-Q and 14% Y-o-Y mainly from the better performance…… 14% Y-o-Y Million Baht 191% Q-o-Q 14% Y-o-Y

  12. Consolidated EBITDA Million Baht (3 Months)

  13. Consolidated Net Profit Million Baht YTD …… increased 1,118% Q-o-Q and 47% Y-o-Y due to the higher gap between selling price and main raw material price………… 755 513 36% 47 % Y-o-Y 38% 62% 54% Million Baht 755 766 1,118 % Q-o-Q 36% 37% 539 513 35% 47 % Y-o-Y 38% 62% 60% 62 60% 54% 148%

  14. Consolidated Net Profit Million Baht 2,210 8% 1,880 1,866 1,866 40% 35% 40% 92% 83% 755 (3 Months) 59% 36% 55% 55% 62% 72%

  15. III. Outlook Q2/2012

  16. Q2/2012 Outlook • Thailand’s demand may be slow because of rainy season and Songkran holidays. • PVC supply is still limited from continued shortage of VCM supply and weak domestic demand in China. • PVC price is expected to improve due to cost-push due to continued risingin energy, Ethylene and VCM price.

  17. Thank you