BTS Group Holdings PCL SET OPPORTUNITY DAY FY 2016/17 EARNINGS PRESENTATION 7 JUNE 2017 Source: Bangkokcitismart prepared by Investor Relations department BTS Group Holdings PCL
Disclaimer 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 Group Earnings Presentation 2
Agenda Section 1 FY 2016/17 FINANCIAL PERFORMANCE Section 2 BUSINESS UPDATES APPENDICES BTS Group Earnings Presentation 3
FY 2016/17 BTS Group Key Milestones For more details, please refer to FY 2016/17 BTS MD&A: significant events MEDIA MASS &SERVICES TRANSIT PROPERTY 9 Sep 2016 31 May 2016 17 May 2016 23 May 2016 U City acquired office VGI increased stake in “A / Stable” credit rating Contract signed for train building at 33 Gracechurch MACO (33.68%) from FITCH and TRIS procurement of Green Street, UK Line extensions Sep 2016 16 Aug 2016 VGI’s entry into Transit 23 Feb 2016 FY 2016/17 final div paid 28 Jun 2016 advertising in Malaysia U City agreed to acquire Contract signed for E&M (19% in TCSB 1 ) 10 Nov 2016 pan-European hotel installation of Green Line THB 22bn BTSC portfolio & hotel mgt co. extensions Aug 2016 debentures issued and associated brands VGI increased stake in 31 Mar 2017 (closed 31 May 2017) Aero Media (28%) 9 Jan 2017 Contract signed for O&M 31 Mar 2017 BoD approved interim div Nov 2016 services of Green Line (THB 0.165/share) VGI acquired 40% in 5 projects of BTS-SIRI extensions condominium launched, Demo Power 30 May 2017 value of THB 19.2bn 29 May 2017 The cabinet approved 21 Mar 2017 BoD approved final div 3 Rabbit Group 2 transaction Pink and Yellow Lines (THB 0.175/share) completed (90%) 1 TCSB = Titanium Compass Sdn Bhd 2 Rabbit Group = BSS and BSSH 3 Subject to shareholders’ approval, the Board of Directors approved the final dividend of THB 0.175 per share or equivalent to the div idend payment in the amount of not exceeding THB 2,763.3mn BTS Group Earnings Presentation prepared by Investor Relations department 4 BTS Group Holdings PCL Section 1: FY 2016/17 Financial Performance
FY 2016/17 BTS Group Overview P&L SNAPSHOT INCOME STATEMENT (THB mn) FY 2016/17 FY 2015/16 % YoY Operating Revenues 1 8,606.2 6,280.3 37.0% Gross operating profits 4,464.3 3,791.8 17.7% Operating EBITDA 2 2,928.3 2,692.8 8.7% Net recurring profit – before MI 1,906.9 2,282.7 (16.5)% Accounting EBITDA 4,117.3 6,254.1 ( 34 . 2 )% Net income (loss) 3 2,003.5 4,133.9 (51.5) % Gross operating profit margin (%) 51.9% 60.4% Accounting EBITDA margin (%) 41.2% 59.7% Recurring net profit margin (%) 20.1% 33.7% Operating EBITDA margin (%) 34.0% 42.9% 1 operating revenue of 4 BUs & share of net profit from BTSGIF 2 excluding interest income 3 to equity holders of the parent 2016/17 OPERATING REVENUE BREAKDOWN OPERATING REVENUE COMPARISON (YoY) ( THB mn) 691 (279) 251 8,606 Media 1,663 Mass Transit 35% 6,280 49% Property 51% -31% 30% 7% 65% Services 9% 2015/16 Mass Transit Media Property Services 2016/17 BTS Group Earnings Presentation prepared by Investor Relations department 5 BTS Group Holdings PCL Section 1: FY 2016/17 Financial Performance
Mass Transit OPERATING PERFORMANCE OPERATING REVENUE BREAKDOWN Services revenue from provision MASS TRANSIT FY 16/17 FY 15/16 %YoY of E&M works & train procurement (THB mn) O&M Revenue 4,236.6 2,573.5 64.6% 34% 39% Costs of revenue 2,131.4 865.4 146.3% Gross profit 2,105.2 1,708.1 23.2% FY 2016/17 Operating EBITDA 2,135.9 1,728.9 23.5% Int income from Gross margin (%) 49.7% 66.4% Share in train procurement Operating EBITDA BTSGIF & E&M 50.4% 67.2% margin (%) 22% 5% KEY FACTORS HISTORICAL OPERATING REVENUE (THB mn) O&M revenue rose by 4% YoY to THB 1,661mn mainly from the Services revenue from provision of E&M works & train procurement contractually agreed increase in operating fee of the extension lines Share of NP in BTSGIF (THB mn) Farebox revenue grew 4% YoY to 6,636mn with ridership growth of Int income from train procurement and E&M works (THB mn) 2.4% YoY and average fare growth of 1.3% YoY 1,444 O&M (THB mn) Share of net profit in BTSGIF increased 12% YoY to THB 945mn Services revenue from the provision of E&M works and the train 284 procurement service for the Southern and Northern Green Line 223 219 197 199 208 221 147 241 extensions of THB 1.4bn was recorded 90 33 33 32 32 Costs rose 146% YoY to THB 2.1bn largely due to cost of services 34 34 33 33 394 395 395 409 417 422 392 411 411 related to the provision of E&M works and the train procurement service for Green Line extensions 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q Operating EBITDA margin was 50.4% (67.2% in FY 2015/16) 14/15 15/16 15/16 15/16 15/16 16/17 16/17 16/17 16/17 BTS Group Earnings Presentation prepared by Investor Relations department 6 BTS Group Holdings PCL Section 1: FY 2016/17 Financial Performance
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