4Q18 Opportunity Day 12th February 2019
Agen Agenda da Financial Highlights Moving Forward Comm Commer ercia cial l Highligh Highlights ts 2
Financial Highlights 3
20 2018 18 : : Key F ey Finan inancial cial Hi High ghli ligh ghts ts Consolidated Key Financial Highlights - Revenue from Sales and Services 6,008 MB ; Decrease 10% YoY, mainly (+) (+) Profit ofit incr increa ease sed, d, de desp spite ite the the due to the decrease of price per unit following industry trend and impact revenu enue e dr drops, ops, fr from om the the cost cost from clients churn in 2017 red educ uction tion - Gross Profit 1,789 MB ; with 30% margin, improved from the decrease of depreciation (-) ) Reven enue ue dr drop oppe ped d fr from the om the - Normalized Profit 140 MB ; Increase 608%, despite revenue decreased, de decr crea ease se of of price price pe per r un unit it an and d mainly due to the cost reduction im impac pact t of of c cli lients ents chur hurn n in in 201 2017 - Net Profit 230 MB ; Improved from the sales of CSL, decrease of depreciation & amortization and SG&A, offsetting with impairment loss Sales and Services Gross Profit Normalized Profit* Net Profit Net Profit 0.23 1,789 EPS 0.21 6,689 140 (Baht/share) 0.09 230 6,008 1,398 Increased -2.42 608% YoY 30% 0.06 Decreased Gross Profit Margin 10% YoY 2017 2018 21% 20 2017 2018 2017 2018 2017 2018 (2,650) Unit: Baht million * Profit (loss) attributable to owner of the Company – Profit from the sale of CSL’s share + Net impairment loss 4
2018 20 18 : S : Satellit tellite e pe perf rfor orma manc nce 40% Satellite Revenue EBITDA 37% Margin Unit: Baht million Satellite 6,475 Revenue 5,850 Broadband 2018 Satellite revenue 42% 39% was 5,850 MB . Decreased 10% YoY , Conventional 58% 61% caused by the a drop of market price and major clients churned during TV 2017 2017 2018 Committed BW Utilization Conventional Broadband Broadband Broadband: Utilization increased from new contracts, the Philippines, 59% 59% Indonesia and Thai government project Conventional Broadcast : New contracts from TV 26% 30% regional balancing the churn of local ones 2017 2018 5
Fin Finan ancia cial l po position sition as as of of 31 31 Dec 2 Dec 201 018 Unit: Baht million Strong ca Str cash sh position sition D/ D/E E Ra Ratio tio at t 0.53 .53x 1 up from 0.49x as at the end of 2017 Consolidated CF 2017 2018 Equity 13,137 CF from Operating 2,980 1,886 Assets 2 CF from Investing (46) 1,207 18,630 2018 2018 CF from Financing (3,327) (2,223) Liabilities 3 2,042 Ending Cash 1,961 2,830 Interest Cash Total Cash On Hand 4 Bearing Debt 5,368 7,057 2,830 Current 7,023 Investment 4,228 1. Interest-bearing Debt / Equity 2. Excludes Cash and Current Investment 3. Excludes Interest-Bearing Debt 4. Includes Cash and Current Investment 6
Moving Forward
Key F ey Frame amewor ork k 2019 2019 Satellite Business Adjacent New Business Professional Services Partnership Model Capture government projects Bangladesh satellite program Selling existing capacity to serve Thailand 4.0 China’s TCSTAR-1 program partnership model Identify in 2019 the Increase utilization of the prototyping of potential NAVA existing satellites business among AI, FINTECH, Expand in Gulf of Thailand Block chain, Drone and Thailand’s PPP process (Public Expand to South China sea Robotic Private Partnership) THCOM is open to join with Australia strategic partnership in Thailand End to End Solutions and for this scheme managed services for NBN International consortium for Maritime and Movie Solution HTS services 8
Sa Satell tellite Bus ite Busines iness s Roa oadma dmap 2019 2020 2021 2022 2023 Operate under Thai Regulation Life extension for TC4 & 5 PPP for satellites under concession (TC4 & 5 & 6) with TC4 @119.5E Under Concession TC7 @120E competitive advantage: until 2021 / EOL Under License 27 years experience of satellite service provider. until 2022 until 2032 / EOL until 2032 Effective cost structure management Strategic Partner TC5 @78.5E Operate TC7 & 8 under license scheme Under Concession until 2021 / EOL until 2020 Explore partnerships Consortium Based Asian HTS @another orbital slot TC6 @78.5E TC8 @78.5E Explore Resell Model ; Rent/Rev share Model Under Concession Under License until 2021 / EOL until 2032 / EOL until 2032 until 2032 Explore Global GEO & LEO Satellite Partnership Explore Global VHTS/HTS/LEO Resell; Rent/Rev share Model Remarks: PPP = Thai Government's Public Private Partnership (PPP) scheme HTS = High Throughput Satellite, VHTS = Very High Throughput Satellite, LEO = Low Earth Orbit, EOL = End of Life 9
Commercial Highlights
Commer Commercial H cial Highlights ighlights Broadcast Services Thailand’s TRUE VISIONS: signed a long-term contract on TC8 to strengthen broadcast services in Thailand Myanmar’s Canal Plus: signed contract to extend Myanmar’s DTH platform until Aug 2021 Acquired TelOne, new African telecom customer in Zimbabwe to provide rural broadband services in Africa Signed agreement with UAE’s Mediavision for video platform on TC6 over Sub-Saharan Africa Philippines’ We are IT Philippines (WIT), s igned bulk bandwidth agreement for the whole TC4 capacity Broadband Services Signed bandwidth agreement and hardware contracts for Thailand’s USO project THAICOM offered 1,600 Digital Life set top boxes, to support distance learning in a smart classroom model in accordance with government’s Thailand 4.0 policy Japan’s KDDI, signed amendment contract for additional bandwidth on TC4 Provide mobility services for Australia’s Spirit of Tasmania cruise ships Telecom Services LTC entered into Sale and Purchase Agreement to acquire 500,000 shares or 100% of Vimpelcom Company Limited, one of Lao’s mobile operator under the brand “BEELINE”, from the government of Lao PDR. This acquisition will significantly enhance LTC network efficiency and expand its target market, especially young generations. 11
Appendix
Sa Satellit tellite e Asse Assets ts Imp Impair airme ment nt Impairment of Assets Non-cash item and does not affect the cash management 2018 Impairment on Thaicom 7 and Thaicom 8 Depreciation of satellite is caused by the market price drops mainly assets will decrease around 116 MB per due to a change of customer behavior annum 2017 impairment of Thaicom 4, Thaicom 6 and a subsidiary is caused by market price drops, Depreciation of satellite assets will decrease churns of major customers, and slow down of around 868 MB per business sectors from the recession of annum Australian’s economic 13
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