Investor Presentaiton
CPN
Prudent Financial Management
Solid balance sheet amidst business expansion
Not only that maintenance CAPEX is
adequately covered by internal cash flow...
Estimated Annual Cash Flow¹
Unit: bn THB
...but CPN's favorable capital structure also
allows to fund new investments
Well-Balanced Debt Maturity Profile³
-15
Operating
Cash Flow
Robust Capital Structure
Unit: bn THB
Funding Through...
Net D/E (x)
0.28
0.07
Unit: bn THB
4.3
Loan
3.3
Cash &
Flexible
.. ST Investment
Bond
0.9
Net Debt
63.9
1.9
4.3
53.0
3.1
Equity
5.4
2.4
1.9
14.8
-11
Committed
2016
2017
Avg. Cost
of Debt²
3.23%
2.81%
CAPEX
Avg. Loan
Life (Yrs.)
2.91
2.64
<1 Year 1-3 Years >3 Years
Evenly-spread repayment schedule allows
CPN to manage its cash flow effectively
without affecting its investment plan and
ability to pay dividend to shareholders
Strong Credit Rating
CPN's corporate rating and rating of senior unsecured debentures are rated "AA" with
"Stable" outlook by the Thailand Rating and Information Services (TRIS) on 22 September 2017
(1)
2017 operating cash flow before changes in net working capital (ex. non-recurring).
(2)
Annual CAPEX based on average forecasted figures during 2018-2022. Flexible CAPEX comprises new potential investments
Cost of debt was derived from interest expenses including interest capitalization for projects under development
(3)
Debt maturity profile based on gross outstanding interest-bearing debt as of YE17
Prepared by CPN Investor Relations
CPN Strategy
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