2 Q AND 1H H 201 2019/20 20 BTS TS GR GROUP EARNIN INGS S PRE RESENTATION SE SET OPPORTUNITY DAY 6 6 DEC ECEMBER 201 2019
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
BTS Group Up Update Our ur Ach Achievement in in Sus Sustainable Dev Development “GROWING SUSTAINABILITY GROWING TOGETHER ” 1st time included in the Thailand Sustainability Investment (THSI) list 2019 2nd nd ti time me member in Dow Jones Plat atinum Awar ard of the Asset ESG Sustainability Indices (DJSI) Corporate Award 2019 which is the in the Emerging Markets 2019 Asia longest-running ESG awards ( 2 nd Rank in the Transportation Sector ) Be Best Inv nvestor Relatio tions Team Awar ard in 2019 BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 3 BTS BTS Grou oup Hol Holding dings PCL
Agenda SECTION 1 SE 2Q 20 2Q 2019/20 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 4 BTS BTS Grou oup Hol Holding dings PCL
2Q Q 20 2019/20 an and 1H 1H 20 2019/20 Overview P&L &L SNAPSHOT INCOME STATEMENT (THB mn mn) 2Q Q 2019/20 2Q Q 2018/19 % YoY 1Q 2019/2 /20 % QoQ % 1H H 2019/20 1H H 2018/1 /19 %Yo YoY Operating Revenue 1 11,359 15,818 (28)% 9,086 25% 20,445 18,908 8% Gross operating profit 2,390 1,836 2,178 30% 10% 4,568 3,347 36% Operating EBITDA 2 1,814 1,401 30% 1,663 9% 3,476 2,558 36% Recurring net profit – after MI 1,131 1,006 830 36% 13% 2,137 1,302 64% Accounting EBITDA 2,599 1,681 55% 2,073 25% 4,672 2,795 67% Net income (loss) 3 1,278 670 91% 894 43% 2,171 1,057 105% Gross operating profit margin (%) 22.3% 17.7% 21.0% 11.6% 24.0% Accounting EBITDA margin (%) 21.4% 14.3% 21.4% 10.3% 21.5% Recurring net profit margin – after MI(%) 9.9% 6.7% 9.4% 5.1% 10.5% Operating EBITDA margin (%) 16.0% 8.9% 18.3% 17.0% 13.5% 1 operating revenue of 4 BUs & share of net profit from BTSGIF 2 excluding non-mass transit interest income 3 to equity holders of the parent 2Q Q 2019/20 OPE OPERATING REV REVENUE BR BREAKD KDOWN OPERATING REVE OPE REVENUE COMPARISON (YoY) ( THB mn) Me Media 14 14% (36)% )% 32% 32% 15 15% 101% 1% Mas Mass Tran ransit 80% Property (5,123) 15,818 THB 11,3 TH ,359mn 1% 261 11,359 390 13 Services 5% 5% 2 Q FY18/19 2 Q FY19 / 20 Q2 FY18/19 Mass Transit Media Property Services Q2 FY19/20 BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 5 BTS BTS Grou oup Hol Holding dings PCL Section 1: 2Q 2019/20 Financial Performance
Mas ass Tra ransit OPERATING REVE OPE REVENUE BR BREAKDOWN OPE OPERATING PERFORMANCE O& O&M MASS TRA MA TRANSIT 2Q 2Q 1Q 1H 1H Con onstructio ion %YoY 19/20 %Qo QoQ 18//19 %YoY (THB THB mn mn) 20 2019 19/20 20 2018 18/19 19 20 2019 2019 20 19/20 2018 20 9 % revenue for or Pink and d Ye Yell llow Li Lines Revenue Re Ma Mass Tr Transit it 9,132 14,255 (36)% 7,208 27% 16,340 16,068 2% rela lated 48 % Costs of revenue 7,596 13,178 (42)% 5,902 29% 13,498 14,297 (6)% inte terest inco come 2Q Q 2019/20 Gross profit 4 % 1,535 1,078 43% 1,306 18% 2,841 1,771 60% Share of of Opera Op rating EB EBITD TDA 1,552 1,085 43% 3% 1,322 17% 7% 2, 2,874 74 1,787 61% 61 net t pr prof ofit it in Others Ot BTSGIF BTS Gross margin (%) 3% 3% 16.8% 7.6% 18.1% 17.4% 11.0% 1 % Operating EBITDA Servic ices revenue from om pr provi ovisio ion 17.0% 7.6% 18.3% 17.6% 11.1% margin (%) of E&M of M wor orks & train pr procu ocurement for or Green Li Line ext. xt. 35 % HISTORICAL OPE OPERATING REV REVENUE (THB THB bn) ) KEY FACTORS Total l Mass ss Trans nsit it reve venu nue of THB 9,132mn, a decrease of 36% YoY from a lower 2Q 2Q 3Q 4Q 4Q 1Q 2Q Q recognition of construction revenue for the Pink and Yellow lines to THB 4.4bn (THB 18/19 19 18/19 19 18/19 19 19/20 19/20 11.8bn in 2Q 2018/19), partially offset by an increase in Construction revenue for Pink 11.8 13.6 5.3 4.3 4.4 • Serv rvic ices reve venu nue for r the provi visio ion of E&M work rks s and the he train in procu cure rement nt se serv rvic ice and Yellow Lines of THB 1.6bn YoY to THB 3.2bn • O&M reve venu nue of THB 414mn YoY to THB 866mn, chiefly as a result of the full Services revenue from provision of 1.5 2.2 1.5 1.4 3.2 E&M works & train procurement opening of Southern Green Line ext. for Green Line ext. • Mass Trans nsit it rela lated intere rest inc ncome of THB 113mn YoY to THB 355mn • Sha hare re of net profi fit from inve nvestment nt in BTSGIF of THB 21mn YoY to THB 265mn Mass Transit related interest 0.2 0.3 0.4 0.4 0.4 income Co Cost dropped by THB 5,581mn to THB 7,596mn largely from the reduced recognition of construction cost for the Pink and Yellow Lines O&M 0.5 0.6 0.8 0.8 0.9 Opera ratin ing EBITDA marg rgin n rose YoY to 17.0% (7.6% in 2Q 2018/19) Share of net profit in BTSGIF 0.2 0.2 0.2 0.2 0.3 Others* 0.0 0.2 0.0 0.0 0.1 *Comprises of (i) Services revenue from provision of E&M works for Gold Line and (ii) Farebox revenue from BRT BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 6 BTS BTS Grou oup Hol Holding dings PCL Section 1: 2Q 2019/20 Financial Performance
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