3Q19 Opportunity Day
Disclaimer The information (“Confidential Information”) contained in this presentation is strictly confidential and is provided by Ananda Development Public Company Limited (the “Company”) to you solely for your reference. Neither this presentation nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your organization or elsewhere, without the prior written consent of the Company. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the Company. Although care has been taken to ensure that the Confidential Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Confidential Information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company. None of the Company, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. This presentation is for information purposes only and does not constitute or form part of any offer or invitation for sale or subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities, nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision in relation thereto in Thailand, United States or any other jurisdiction. Any such purchase should be made solely on the basis of the information contained in the announcements to the Stock Exchange of Thailand relating to such securities. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness. This presentation contains projections and forward‐looking statements that reflect the Company's current views with respect t o future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the Company. You are cautioned not to place undue reliance on these forward looking statements. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. Such forward‐looking statements are not guarantees of future performance and accordingly, the actual results, financ ial condition, performance or achievements of the Company may differ materially from those forecasted and projected or in the forward‐looking statements. 2
Performance & Business Plan
Profitability: Higher Contribution of Transfers to Push a Performance QoQ 3Q2019 2Q2019 3Q2018 % Q-o-Q % Y-o-Y M Baht % M Baht % M Baht % Total revenue 2,677 100% 2,037 100% 2,697 100% 31% -1% Revenue from sale of real estate 1,531 57% 871 43% 1,475 55% 76% 4% Project management and commission income 470 18% 9% -15% 431 21% 552 20% Other incomes 676 25% 735 36% 670 25% -8% 1% Gross profit 809 30% 579 28% 893 33% 40% -9% Sale of real estate 463 30% 205 24% 385 26% 125% 20% Project management and commission 276 59% 220 51% 326 59% 25% -15% Others 70 10% -54% -61% 153 21% 182 27% SG&A 754 28% 547 27% 789 29% 38% -5% Selling expenses 250 9% 66% -5% 150 7% 264 10% Administrative expenses 504 19% 397 19% 527 19% 27% -4% Other expenses 10 0% -2 0% -2 0% N/A N/A Share of Profit (Loss) 361 13% 253 12% 982 36% 43% -63% EBIT 405 15% 286 14% 1,086 40% 42% -63% Interest expenses 173 6% 141 7% 85 3% 22% 102% Net Profit (Loss) 256 10% 168 8% 976 36% 52% -74% Profit attributable to non-controlling interests -22 -1% -48 -2% 3 0% N/A -797% Profit attributable to equity holders of the company 234 9% 120 6% 980 36% 95% -76% 4
Profitability: A drop from the High Base of Joint Ventures in 3Q18 9M2019 9M2018 % Y-o-Y M Baht % M Baht % Total revenue 6,536 100% 7,943 100% -18% Revenue from sale of real estate 3,176 49% 4,862 61% -35% Project management and commission income 1,374 21% 1,480 19% -7% Other incomes 1,985 30% 1,602 20% 24% Gross profit 2,068 32% 2,704 34% -24% Sale of real estate 828 26% 1,393 29% -41% Project management and commission 791 58% 855 58% -8% Others 449 23% 455 28% -1% SG&A 1,998 31% 2,107 27% -5% Selling expenses 547 8% 753 9% -27% Administrative expenses 1,451 22% 1,354 17% 7% Other expenses 0 0% -7 0% N/A Share of Profit (Loss) 985 15% 1,455 18% -32% EBIT 1,054 16% 2,058 26% -49% Interest expenses 419 6% 268 3% 56% Net Profit (Loss) 694 11% 1,705 21% -59% Profit attributable to non-controlling interests -108 -2% -48 -1% N/A Profit attributable to equity holders of the company 586 9% 1,657 21% -65% 5
Profitability: Investment from Joint Ventures was a Key Contribution Unit: M Baht 9M19 17,574 Transfers from JV 11,452 TRANSFERS Share Profit from JV 1,455 78 % 985 FROM JV PROJECTS 37% %Gross Profit Margin 34% 21% 18% MAINTAIN HIGH LEVEL OF PROFIT MARGIN %Net Profit Margin 9M18 9M19 6
Balance Sheet: Business Growth with Discipline 3Q2019 2Q2019 3Q2018 % Q-o-Q %Y-o-Y M Baht M Baht M Baht Cash balance and equivalent 8,002 5,912 2,423 35% 230% Assets 52,292 48,497 40,125 8% 30% Interest bearing debts 27,917 24,116 17,781 16% 57% Liabilities 33,853 29,558 23,244 15% 46% Shareholders' equity 18,439 18,938 16,881 -3% 9% D/E ratio (times) 1.84 1.56 1.38 18% 33% Net IBDE ratio (times) 1.08 0.96 0.91 12% 19% 7
Business Growth with Discipline 2.5 Times Bond Covenants 2 1.5 1.35 1 0.5 0 2018 9M2019 2017 2014 2015 2016 Note : Net Interest bearing debt including JV debt to equity 8
Launch Target 2019: Moderate Growth with Mid-End Segment Focus 16 BILLION BAHT 82 % CONDOMINIUM 6 PROJECTS 4 PROJECTS 3 JOINT VENTURE PROJECTS From original plan of 9 projects at 33 Bn 95% CONDO LAUNCH 18 % HOUSING 26,756 15,984 2 PROJECTS 2013 2014 2015 2016 2017 2018 2019 9
T RANSFORMATI ON L I V E – WORK – PL AY – L EARN
THE SOLUTIONS FOR 3 STAGES OF LIFE M A R R I A G E G E N C B A B Y G E N C B A C H E L O R G E N C 11
Launch Target 2019: Moderate Growth with Mid-End Segment Focus 16 BILLION BAHT 6 PROJECTS 3 JOINT VENTURE PROJECTS NO. LAUNCH 2019 1Q19 3Q19 2Q19 4Q19 BEGINS Condo - - - 13,154 13,154 Housing - 1,369 1,434 - 2,830 TOTAL 15,984 - 1,369 1,434 13,154 (MILLION BAHT) 4 (3 JVs) NO. OF CONDO PROJECT - - - 4 (3JVs) 2 - 1 1 - NO. OF HOUSING PROJECT Note : * Ideo Q Phahol-Saphankhai is under redesigned and will be launched by the first half of 2020 12
4Q19 Launch Projects: Launch Begins in Nov 19 Project Value : 712 MB Project Value : 4,846 MB Project Value : 4,087 MB Project Value : 3,509 MB No. of Units : 76 Units No. of Units : 773 Units No. of Units : 642 Units No. of Units : 1,421 Units เริ่ม 5.59 เริ่ม 3.59 เริ่ม 3.59 Starting Price : 149K Starting Price : 130K Starting Price : 120K Starting Price : 62K ล้าน ล้าน ล้าน Transfer Begins : 4Q20 Transfer Begins : 1Q22 Transfer Begins : 4Q21 Transfer Begins : 2Q22 Note : * Ideo Chula-Samyan, Ideo Sukhumvit-Rama 4 and Ideo Charan-Riverview are under JVs with ANAN 74% and Mitsui 26% 13
4Q19 Launch Projects: Q Prasarnmit 14
4Q19 Launch Projects: Ideo Chula-Samyan 15
4Q19 Launch Projects: Ideo Sukhumvit-Rama 4 16
4Q19 Launch Projects: Ideo Charan 70-Riverview 17
Presales Target 2019: Adjust Presales Target to be in line with Market 23.4 BILLION BAHT 14 % HOUSING From previous plan of 28.3 Bn 86 % CONDOMINIUM 2019F 1Q19A 2Q19A 3Q19F 3Q19A 4Q19F PRESALES CONDOMINIUM 4,064 5,215 4,112 3,567 7,400* 20,245 752 885 1,016 752 796 3,185 HOUSING TOTAL 23,430 4,815 6,100 5,128 4,319 8,196 (MILLION BAHT) Note : * Excluding Ideo Q Phahol-Saphankhai of 1.2 Bn Baht which is under redesigned and will be launched by the first half of 2020 18
Transfer Target 2019: Adjust Transfer Target to be Aligned with Market 92 21.3 BILLION BAHT % CONDOMINIUM From previous plan of 29 Bn 8 % HOUSING 2019F 2Q19A Transfer 1Q19A 3Q19F 3Q19A 4Q19F Condo 202 675 1,284 1,098 1,208 3,183 Housing 573 196 654 433 408 1,610 Ananda F/S 775 871 1,938 1,531 1,616 4,793 Ananda Share in JV 2,171 1,761 2,339 1,634 2,461 8,027 Partner Share in JV 2,685 1,648 2,255 1,553 2,594 8,480 Ananda Share in Transfers 2,946 2,632 4,277 3,165 4,077 12,820 Total (M Baht) 5,631 4,280 6,532 4,717 6,671 21,300 19
Transfer Target 2019: 8 Projects will be Ready to Transfer 58 8 % NEW CONDO PROJECTS OF TRANSFERS THAT COMPLETE THIS COMING FROM YEAR Transfer 1Q19 2Q19 3Q19 4Q19 Begins 20
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