Eastern Water Resources Development and Management PLC. Opportunity Day Venue SET Building, Room 1101 2009 Yearly Results 24 February 2010
Contents Company Overviews Operation Highlights Financial Results Future Investments CSR Projects 2
Company Highlights 33.26% of Net Profit and 26.82% of EBITDA increase in Y2009(YoY) Nongplalai - Maptaphut(Line3) pipeline, the construction was started in 4Q/2009 and expected to complete the project in 2011 Prasae-Klongyai pipeline, the Cabinet had a resolution to approve the budget payment for this project and the asset will be delivered within 90 days after the agreement signing date Dividend for 2009 operating results is Bath 0.35 per share, interim dividend of Bath 0.10 per share paid on Sep 23, 2009 the remaining of Bath 0.25 per share will be paid on Apr 5,2010 3
East Water Group Structure East Water EGCOM TARA : 15.88% Universal Utilities : 100% * THB 345 million * THB 510 million Bangpakong Water Supply Co.,Ltd. Bangpakong Water Supply Bangpakong Water Supply Chachoengsao Water Supply Chachoengsao Water Supply Co.,Ltd. Chachoengsao Water Supply Nakornsawan Water Supply Nakornsawan Water Supply Co.,Ltd. Nakornsawan Water Supply Rayong Waterworks Rayong Waterworks Rayong Waterworks Chonburi Waterworks Operations & Maintenance Ratchaburi – SamutSonghram, Phuke t Non-Revenue Water Non Revenue Water PWA 3 project : Omnoi, PathumThani Non Revenue Water Sattahip, Borwin Waterworks East Water East Water East Water Koh Sichang, Lan, Samui Waterworks 4
Universal Utilities Co., Ltd. (UU) Nakhonsawan Prathum-Rangsit (PWA) Omnoi-Sampran (PWA) MWA Chachoengsao Bangpakong Rachaburi-Samutsongkram Borwin Sattahip Larn Island Rayong Srichang Island Samui Island Group 1 Concession Contracts Phuket Group 2 O&M Contracts Group 3 NRW Contracts 5
Tap Water Demand Million Cubic Meter 100 76 73 70 80 65 53 49 60 45 33 40 20 Forecasted - 2006 A 2007 A 2008 A 2009 A 2010 E 2011 E 2012 E 2013 E * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only : Chonburi BOO Contract. (8.7 Million Cu.m/year) start in 2010 6 : Tap Water Demand is calculated excluding O&M Contract
Tap Water Revenue and Net Profit Million Baht Million Baht Net Profit Revenue 150 1,500 20.37% YoY 28.07% YoY 120 1,200 105 902 878 90 82 82 900 749 731 64 60 600 30 300 - - 7 * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
Direction of Business Development UU Water Concession Industrial O&M NRW Reclamation/ Water Waste Water Core Business Potential Projects 8
Future Projects Market Expansion Private Sector Government Concession/O&M Industrial Water PWA Waste Water Water Reclaim Municipality Factory Sub-District Industrial Organization Estate etc. etc. 9
Contents Company Overviews Operation Highlights Financial Results Future Investments CSR Projects 10
Raw Water Demand Million Cubic Meter 350 304 294 300 265 239 221 224 219 250 201 200 150 Demand is expected to increase by the expansion of Domestic Consumption and 100 Petrochemical Phase 3 50 Forecasted - 2006 A 2007 A 2008 A 2009 A 2010 E 2011 E 2012 E 2013 E 11 * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
Raw Water Volume in 2010 is expected to increase by 8%, YoY 30 Actual 2010 + 17.29% 28 YoY 26 Millions Cubic Meters 24 20.17 21.58 22 20.34 19.45 20.39 20.57 20.33 Actual 2009 19.08 19.54 20.27 19.22 20.26 20 18.32 18 16 14 Plan 2010 12 10 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Raw Water Volume in 2009 drop by 1% ,YoY due to the financial crisis 30 28 10.52% YoY 7.51% YoY 4.89% YoY 10.47% YoY Actual 2008 26 Millions Cubic Meters 24 21.58 22 20.34 20.57 20.26 20.33 20.27 19.22 20.39 19.08 19.54 19.45 18.32 20 Actual 2009 18 18.99 17.71 20.35 17.89 18.67 17.57 16 18.24 18.39 18.56 16.92 18.27 19.69 14 12 Plan 2010 10 12 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
Res eservoir ervoir Sto torag age e as as of of Feb eb 15 15, , 2010 2010 Chonburi Rayong 140 117 117 163 163 71 71.4 180 80 120 160 70 40 40.1 100 140 275 45 248 248 60 21.4 21 140.84 140 84 40 24 53.94 53 94 120 250 80 50 21 35 100 30 30.51 51 225 18 30 40 60 61 61.04 04 206.7 206 80 15 25 200 12.74 12 74 30 12 20 40 60 175 9 15 20 40 6 150 20 10 52 52% 60% 60 10 76 76% 3 20 86% 86 76% 76 5 125 0 0 0 0 0 อ่างฯหนองค้อ 100 อ่างฯบางพระ อ่างฯคลองใหญ่ Nongkoh Bangphra อ่างฯดอกกราย อ่างฯหนองปลาไหล Khlong yai Dokkrai Nongplalai 75 50 25 83 83% 0 อ่างฯประแสร์ Phrasae Existing Pipe Network 13 Potential Pipe Network
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NongPlaLai-Dokkrai- Maptaphut Line 3 BangPra ra New pipeline will support water demand in 10 years Laying pipeline from Nongplalai to Maptaphut area diameter 1,40 0 mm. approx. 30 km. Non ongKh Kho Additional pipeline to AIE and constructing new pumping station Total investment 2,111 MB Construction Period 2009-2011 Prasa sae KlongYai NongPla laLai P Prasae Pras ae-Klongyai ongyai ( RID) DokKra kKrai Lay Laying pi ng pipel peline app ne approx. rox. 30 30 km. m. Maptaphut Industrial Estate 16
Prasae-Klongyai Pipeline Linkage Project Prasa sae-Klo Klongya ngyai i connect ctin ing pipeline e project ct In Aug 2005 2005, assigned by the Cabinet to be responsible for the 31 31.8 8 km. Prasae-Klongyai Pipeline project KlongYai Prasa sae (1,680 680MB) to supply water to Maptaphut area Pipeli line linka kage Completed construction, on 14 14 July 2009 2009 the Cabinet assigned RID to Pumping ping manage the procurement process for stat ation ion this project On 1 1 Dec 2009 2009, , the Cabinet et had a NongPla laLai resol oluti ution on to approv ove e the budget et payment ment for this projec ect The agreem ement ent had been signed ed on Constructing Pipe Network 15 15 Jan 2010 2010,the the asset et will be deliver ered ed within 90 90 days Pumping station 17
Contents Company Overviews Operation Highlights Financial Results Future Investments CSR Projects 18
Source of Revenue Million Baht Other Income Service & Rental Income Tap Water Raw Water 4,000 Y2009 Revenue(MB) Y2008 % 3,500 15.07% YoY 1,904 1,658 15% Raw Water 2,879 3,000 2% 2,502 2,505 2,417 10% 2,500 10% 4% 4% 636 14% 561 Tap Water 8% 10% 22% 20% 2,000 22% Service & Rental 20% 282 14% 192 47% 1,500 Income 1,000 56 39% 91 Other Income 500 56% 66% 66% 66% - 2,879 2,502 15% Total Revenue 19 * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
Raw Water Volume and Sales Raw Water Volume Comparison Raw Water Revenue Comparison Million Cubic Meter Million Baht 300 2,500 1.16% YoY 14.86% YoY 250 1,904 2,000 223.86 221.27 219.10 1,658 201.37 200 1,588 1,397 1,500 150 1,000 100 500 50 - - 20 * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
Tap Water Volume and Sales Tap Water Volume Comparison Tap Water Revenue Comparison Million Cubic Meter Million Baht 70 800 7.26% YoY 13.45% YoY 700 60 636 53.04 561 600 49.45 50 45.34 488 500 40 32.53 400 355 30 300 20 200 10 100 - - 21 * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
Raw Water Revenue and Costs Breakdown Revenue & COGS of Raw Water (Consolidated F/S) COGS of Raw Water Breakdown (Consolidated F/S) COGS Rev 1,904 1,658 Raw Water 1,588 1,397 Staff Cost Million Baht Y2008 Electricity Depreciation 39% 40% 43% 38% Others Y2009 22 * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
East Water Group Performance Million Baht Net Profit EBIT EBITDA 2,000 1,603 1,500 1,264 1,250 26.82% 1,133 1,061 YoY 913 36.21% YoY 807 1,000 796 764 33.26 % 606 505 YoY 432 500 - 23 * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
Financial Structure of East Water Separated D/E Ratio Consolidated D/E Ratio 1.25 1.25 1.17 1.01 1 1 0.75 0.75 0.66 Times 0.55 Times 0.44 0.5 0.5 0.53 0.35 0.48 0.25 0.25 0 0 24 * Remark : All the figures above were adjusted to the new fiscal year(1 Jan – 31 Dec) for comparison proposes only
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