Airports of Thailand Plc. Presentation for Analyst Briefing – 9M_FY09 (October 2008 – June 2009) Investor Relations Center, Email: aotir@airportthai.co.th, Tel: (662) 535-5900, Fax (662) 535-5909
Disclaimer This presentation is intended to assist investors to better understanding the company’s business and financial status. This presentation may contain forward looking statements relate to analysis and other information which are based on forecast of future results and estimates of amounts not yet determinable. These statements reflect our current views with respect to future events which relate to our future prospects, developments and business strategies and are not guarantee of future performance. Such forward looking statements involve know and unknown risks and uncertainties. The Actual result may differ materially from information contained in these statements. 2
Aircraft Movement Statistics AOT Traffics Major LCCs Airline LCCs Traffics • Domestic (Unit: Thousand) (Unit: Thousand) Thai Air Asia 394.1 390.3 350.3 Nok Air 105.2 308.1 104.5 One Two Go Airlines 173.4 175.1 148.5 257.5 • International 86.5 78.3 138.9 Air Asia 63.2 109.8 75.9 78.9 Thai Air Asia 64.5 59.4 Tiger Airways 41.6 220.7 215.2 201.8 169.2 147.7 Jetstar Asia 28.6 26.3 22.0 21.6 Jetstar Airways 18.9 CEBU Pacific Air 2006 2007 2008 9M_08 9M_09 2006 2007 2008 9M_08 9M_09 International Domestic Mihin Lanka Airlines International Domestic Air India Express 9M_FY08 9M_FY09 YoY% 9M_FY08 9M_FY09 YoY% BKK 195,777 178,354 (8.90)% Indonesia AirAsia BKK 34,211 33,119 (3.19)% DMK 45,034 24,183 (46.30)% Firefly DMK 21,701 9,170 (57.74)% BKK + DMK 240,811 202,537 (15.89)% BKK + DMK 55,912 42,289 (24.37)% CNX 20,534 17,104 (16.70)% CNX 9,348 6,106 (34.68)% Note HKT 32,749 27,363 (16.45)% HKT 11,555 8,943 (22.60)% AOT Average Aircraft HDY 8,378 6,558 (21.72)% HDY 6,269 4,224 (32.62)% Movement Growth Rate CEI 5,662 3,918 (30.80)% for the last 6 year is 9.8% CEI 3,475 1,660 (52.23)% * Note: Fiscal Year starting from October to September 3
Passenger Movement Statistics AOT Traffics LCCs Traffics Major Events (Unit: Million) (Unit: Million) 2004 58.2 56.0 12.4 • Bird Flu 12.0 51.8 • Southern Violence 45.7 21.4 10.1 20.8 2005 9.2 18.7 37.0 • Tsunami 17.0 7.3 9.0 9.1 2006 14.2 7.5 • Coup D’etat 7.0 4.8 •Southern Violence 36.8 35.2 33.1 28.7 2008 22.8 • World Economic 3.4 2.9 2.6 2.5 2.2 Crisis 2009 2006 2007 2008 9M_08 9M_09 2006 2007 2008 9M_08 9M_09 • Airport Closure International Domestic International Domestic • 2009 Flu 9M_FY08 9M_FY09 YoY% 9M_FY08 9M_FY09 YoY% BKK 31,827,343 26,977,178 (15.24)% BKK 3,955,798 3,887,401 (1.73)% Note DMK 4,746,637 2,360,149 (50.28)% DMK 2,558,138 982,798 (61.58)% BKK + DMK 36,573,980 29,337,327 (19.79)% BKK + DMK 6,513,936 4,870,199 (25.23)% AOT Average CNX 2,589,115 2,127,580 (17.83)% CNX 1,094,336 689,445 (37.00)% Passenger Movement Growth HKT 4,791,300 4,149,509 (13.39)% HKT 1,354,183 1,047,239 (22.67)% Rate for the last 6 HDY 1,093,361 925,843 (15.32)% HDY 782,589 533,452 (31.83)% year is 8.4% CEI 640,454 473,867 (26.01)% CEI 361,520 178,132 (50.73)% 4
Impacts from economy crisis and political unrest Total Passenger Movements 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 - OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY. JUN JUL. AUG. SEP. 2003 2004 2005 2006 2007 2008 2009 Oct Nov Dec Jan Apr Feb Mar May Jun Jul MoM Growth FY2008 - 6.23% 8.30% 1.37% (3.78)% 4.83% (10.12)% (9.57)% (7.71)% 9.80% FY2009 - (12.91)% (4.67)% 33.21% (9.13)% 12.40% (7.23)% (14.69)% (3.90)% 19.18% 5
Revenue Breakdown Total Revenue By proportion (Unit: Million) 9M_FY08 9M_FY09 16.20% 15.00% 22,010.86 22.13% 19,917.26 22.19% 19,501.41 16,240.73 16,248.69 13.33% 13.29% 39.95% 6.40% 40.29% 7.67% 1.66% 1.90% By Growth (Unit: Million) FY2007 FY2008 YoY(%) 9M_FY08 9M_FY09 YoY(%) 2006 2007 2008 9M_08 9M_09 LPC 3,937.40 4,216.35 19.16% 3,235.02 2,437.95 (24.64)% Landing & Parking charges (LPC) PSC 8,781.48 10,417.01 47.33% 8,151.54 6,491.06 (20.37)% Passenger service charges (PSC) ASC 427.10 431.75 1.96% 330.37 308.64 (6.58)% A/C Service charges (ASC) OPR 1,524.61 1,480.64 6.73% 1,279.07 1,245.53 (2.62)% Office and state property rents (OPR) Service revenues (SVR) SVR 2,818.54 3,164.29 14.38% 2,660.82 2,159.98 (18.82)% Concession revenue (CCR) CCR 2,012.28 2,300.81 10.45% 4,260.42 3,605.52 (15.37% 6 * Note: Fiscal Year starting from October to September
Expense Breakdown Total Cost By proportion (Unit: Million) 9M_FY08 9M_ FY09 14.88% 14.90% 18,515.89 18,004.67 44.95% 45.57% 12,846.08 13,137.78 9,420.08 28.69% 29.40% 5.40% 3.33% 6.09% 6.80% By Growth (Unit: Million) 2006 2007 2008 9M_08 9M_09 FY2007 FY2008 YoY(%) 9M_FY08 9M_FY09 YoY(%) Personnel 2,927.84 3,909.00 21.11% 1,914.65 1,954.66 2.09% Personnel expenses Operating 5,730.13 5,100.31 27.55% 3,776.72 3,769.01 (0.20)% Operating expenses R&M 732.38 683.96 3.69% 427.31 799.94 87.20% Repair and maintenance (R&M) SPR 846.32 955.73 5.16% 872.94 709.01 (18.78)% State property rental (SPR) D&M 7,759.50 7,866.89 42.49% 5,854.45 5,905.17 0.87% Depreciation and amortization (D&M) 7
Financial Statement Income Statement (Unit: Million) Historical Performance 9M_FY09 YOY(%) 9M_FY08 Percent(%) Million Baht Revenues 19,917.25 16,248.69 (18.42)% 25,000.00 25 2.27% Expenses 12,846.08 13,137.78 20 20,000.00 Depreciation 5,854.46 5,905.17 0.87% 15 Operating Income 7,071.18 3,110.90 (56.01)% 10 15,000.00 5 EBITDA 12,925.63 9,016.08 (30.25)% 10,000.00 0 Other Revenues/Expenses – 3,349.56 403.62 (87.95)% -5 net 5,000.00 -10 Profit before interest 10,420.74 3,514.52 (66.27)% and income tax 0.00 -15 Interest Exp. 1,926.31 1,876.02 (2.61)% FY05 FY06 FY07 FY08 Income Tax 1,390.00 231.74 (83.33)% Revenue EBITDA Loss from Minority EBIT Net Profit 26.15 60.61 1.32% Interest Revenue Growth EBITDA Growth (79.42)% Net Profit 7,130.67 1,467.37 8
Financial Statement (Cont’d) Balance Sheet Cash Flow Statement (Unit: Million) Million Baht Beginning Cash Flow 3,937.36 30 Sep 2008 30 Jun 2009 Cash Flow from Operation 5,921.15 Cash 3,937.37 5,290.03 1,472.90 Cash Flow from Investment 20,748.75 16,232.73 Other Current Asset (6,041.38) Cash Used in Financing 121,769.85 124,713.19 Non Current Asset 5,290.03 Ending Cash Flow 146,455.97 146,235.95 Total Assets Current Liabilities 10,388.59 11,217.10 Long-Term Loans 58,564.52 60,465.72 Long Term Loan Total Loan (Million Yen) 199,210.76 Other Non Current 1,194.47 547.60 Liabilities Disbursed Amount 96.99% 70,147.57 72,230.42 Total Liabilities Repayment Amount 16,992.75 Shareholder ’ s Equity 76,308.39 74,005.53 77.68% Hedged Percentage of Total Loan Total Liabilities & 146,455.97 146,235.95 Shareholder ’ s Equity 5.01% Average Interest Rate 9
Financial Ratios 30 Sep 2006 30 Sep 2007 30 Sep 2008 30 Jun 2009 Par Value (THB) 10.00 10.00 10.00 10.00 Market Price (THB) 58.00 62.00 31.00 26.75 BV/share 49.81 48.78 53.42 51.80 P/BV 1.16 1.27 0.58 0.52 EPS 7.26 0.77 5.12 1.03 P/E 7.98 80.51 6.05 23.06 0. 87 Gearing (%) 0.80 0.78 0.79 0.80 80 Net Gearing (%) 0.52 0.63 0.74 ROE 14.72% 1.57% 9.59% 1.98% ROA 6.96% 0.76% 5.00% 1.00% Note: Gearing = Total Debt / Total Equity, Net Gearing = Net Debt / Total Equity Total Debt = Total Interest Baring Debt 10
Future Airport Development Suvarnabhumi Airport Investment Cost Additional Capacity Expected (billion baht) Timeframe 1. Domestic Passenger 9.13 2010 - 2013 - 20M Pax pa. Terminal - 15 contacted gates 2. Midfield Concourse and 73.74 2011 - 2016 - 15M Pax pa. related facilities - 28 contacted gates - 19 flights/hr. Phuket International Airport • New International Passenger Terminal • Total investment costs: Baht 5.79 b • Renovation of the Existing Terminal • Accommodate additional of 6 million PAX pa. • Apron • Project Timeframe: 2009 - 2013 • Other related facilities 11
Future Projects for Commercial Activities Suvarnabhumi Airport • Commercial Activities Management near long-team Phuket International Airport parking area • Private Jet Terminal • Community Mall • Central Warehouse • Aircraft Maintenance Center • Car Care Center and Showroom Don Muang International Airport • Water Production and Distribution • Private Jet Terminal • Aircraft Maintenance Center • Aircraft Simulation Center Had Yai International Airport • International Free Trade Zone • Express Way Center • Landing Gear Maintenance 12
Noise Compensation Planned Proceeded Amount Houses Total Impacted (million baht) Houses (15,888) NEF > 40 309.54 Purchased 50 226.90 NEF > 40 NEF 30-40 Insulated 322 82.64 (605 ) (15,283) NEF 30-40 307.45 Insulated 242 59.82 Purchase Insulation Insulation Sensitive Area 16 247.63 (211) (394) (15,283) Total 616.99 KMITL* 214.00 * KMITL: King Mongkut’s Institute of Technology Ladkrabang 13
Thank hank you you ve very m y muc uch h Investor Relations Center, Email: aotir@airportthai.co.th, Tel: (662) 535-5900, Fax (662) 535-5909
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