1Q 20 2020/21 BTS GROUP EAR ARNIN INGS PR PRESENTATIO ION 19 19 AUGU GUST 20 20 20
Dis isclaimer Investment involves risk. Prospective should understand the characteristics of Securities and study information about BTS Group Holdings Public Company Limited (the “Company”) before making a decision to invest in Securities. This presentation is for information purposes only and is intended only for the initial direct attendee of the presentation. It may not be reproduced or redistributed to any other person. It shall not and does not constitute either an offer to purchase or buy or a solicitation to purchase or buy or an offer to sell or exchange or a solicitation to sell or exchange any securities of BTS Group Holdings PCL (the "Company") or any of its subsidiaries in the United States of America or in any other jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its existence, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. This presentation is not to be relied upon in any manner as legal, tax or any other advice and shall not be used in substitution for the exercise of independent judgment and each person made aware of the information set-forth hereof shall be responsible for conducting its own investigation and analysis of the information contained herein. Except where otherwise indicated, the information provided in this presentation is based on matters as they exist as of the date stated or, if no date is stated, as of the date of preparation and not as of any future date, and the information and opinions contained herein are subject to change without notice. None of the Company nor any of its subsidiaries accepts any obligation to update or otherwise revise any such information to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. None of the Company or any of its subsidiaries or any of their respective directors, officers, employees or agents shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation and any and all such liability is expressly disclaimed. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of the Company. Some statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respect to the Company’s corporate plans, strategies and beliefs and other statement that are not historical facts. These statement can be identified by the use of forward-looking terminology such as “may”, “will”, “expect” , “intend”, “estimate”, “continue”, “plan” or other similar words. The statements are based on the assumptions and beliefs of the Company’s management in light of the information currently available to the Company. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this Presentation is, or should be relied on as promise or representation of the Company as to the future. BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 2 BTS BTS Grou oup Hol Holding dings PCL
Agenda SECTION 1 SE 1Q 20 2020/21 FIN FINANCIAL PER ERFORMANCE SECTION 2 SE BUSINESS UP UPDATES SE SECTION 3 APPENDICES BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 3 BTS BTS Grou oup Hol Holding dings PCL
1Q 1Q 20 2020/21 Hig ighlights FINANCIAL POSITION P&L L HI HIGH GHLIGHTS 3M M CA CASH FLOW Profitability resilience amid Balance sheet Financing cash earmarked for COVID-19 pandemic remains strong investments in Mass Transit projects Ope pera ratin ing Revenue of THB THB 9. 9.7bn Cas ash h & & Li Liqu quid id Inv nvest stments Cas ash h re receiv ived THB THB 15. 15.0b 0bn 16% YoY fro rom the the re remain inin ing pro proceeds s of the sa the sale of Baysw Bayswater land and THB 5. THB 5.4bn 4bn Recu curr rrin ing EBIT BITDA of THB THB 1.5 1.5bn bn (30)% YoY Net t inc ncrease in n long ng-term loans ns Low leverage fro rom finan nancia ial ins nsti titutio ions s 58% * of re 58% recurri ring EBITD BITDA is from THB THB 5. 0b 0bn Adjust Adju sted Net t D/E development of new lines and 1.15 1.15x O&M, un unaf affected by by COVID-19 19 Net t inv nvest stment nts s in n Pink nk & & Yello low Li Line nes s & & Net t Pro rofit it of THB THB 443m 443mn Gre reen Ext xtensio ions (50)% YoY THB 5. THB 5.7bn bn * Based on FY 2019/20 financial performance BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 4 BTS BTS Grou oup Hol Holding dings PCL Section 1: 1Q 2020/21 Financial Performance
1Q 20 2020/21 Overview P&L &L SNAPSHOT INCOME STATEMENT (THB mn mn) 1 Q 20 20 /2 /2 1 1 Q 20 20 19 / 20 %Yo YoY 4 Q 20 19/20 %QoQ Operating revenue 1 7,793 9,725 8,422 16% 25% Total revenue 10,770 8,761 23% 9,915 9% Gross operating profit 1,517 1,384 1,495 (7)% (9)% Rec Recurring EBITDA 2 1,520 2,18 181 (30)% 1,289 18% Recurring net profit – after MI 261 461 1,006 (54)% 76% Net income (loss) 3 443 894 (50)% 3,531 (87)% Gross operating profit margin (%) 14.2% 17.8% 19.5% Recurring EBITDA margin (%) 15.6% 25.9% 16.5% Recurring net profit margin – after MI(%) 4.5% 10.5% 3.3% 1 Operating revenue from the operational performance of 4 BUs excludes interest income, dividend income and non-recurring items. 2 Recurring EBITDA calculated from the operational performance of 4 BUs, interest income, dividend income, other income, net share of profit /(loss) from associates/ JV, yet, excludes other non-recurring items 3 to equity holders of the parent 1Q 2020/21 OPE OPERATING REVE REVENUE BR BREAKDOWN OPERATING REVE OPE REVENUE COMPARISON (YoY) ( THB mn) 36% 36% ( 68 )% )% ( 55 )% )% (27)% 7)% Mas Mass Tran ransit 9,725 Media Me 2,384 (922) (44) 8,422 (116) 92% 4% Property 1% Services Se 3% 1Q 2019/20 Mass Media Property Services 1Q 2020/21 Transit BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 5 BTS BTS Grou oup Hol Holding dings PCL Section 1: 1Q 2020/21 Financial Performance
1Q 1Q 20 2020/21 Cas ash Flo Flow Snapshot CFO CFI CFF • Profit before tax of THB 741mn, deducted • cash received from settlement received from sale • net cash paid for short-term loans from financial by of investments in joint ventures of THB 5.4bn institutions and bills of exchange payables of THB • Non-cash reconciling items of THB 310mn (mostly from receiving the remaining proceeds 6.5bn • Changes in net working capital of THB of the sale of Bayswater land) • dividend payment of THB 2.0bn in May 2020 3.5bn (this includes net investment in • net cash received from sales of current and other • net increase in long-term loans from financial mass transit projects of THB 3.1bn) long-term financial assets of THB 4.6bn institutions of THB 5.0bn mainly for the drawdown • net investment for construction of the Pink and of syndicated loans related to the Pink & Yellow Yellow Lines of THB 2.6bn lines. • cash paid for purchases of investments in joint ventures of THB 1.2bn largely from an investment in U-Tapao International Aviation Company Limited ( THB mn) (2,383) 6,478 2 3,838 3 (53) 3,226 (3,430) 1 Beginning cash CFO CFI CFF Others Ending cash (31/3/20) (30/6/20) 1 CFO after Corporate income tax of THB 22mn • Net interest expenses of THB 936mn • Net investment for construction of the Pink and Yellow Lines of THB 2.3bn • Net investment for E&M works and trains procurement for the Northern Green Line extensions of THB 0.8bn • 2 CFI included net investment for construction of the Pink and Yellow Lines of THB 2.6 bn 3 Excluding liquid investments of THB 11.1bn BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 6 BTS BTS Grou oup Hol Holding dings PCL Section 1: 1Q 2020/21 Financial Performance
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