BTS Group Holdings PCL GROUP GENERAL PRESENTATION JANUARY 2015 BTS Group General Presentation prepared by Investor Relations department BTS Group Holdings PCL
IR Contacts Address: BTS Group Holdings PCL IR Department 15 th Floor, TST Tower, 21 Soi Choei Phuang, Viphavadi-Rangsit Rd. Chomphon, Chatuchak, Bangkok, Thailand 10900 Telephone: +66(0) 2273 8611-15 Fax: +66(0) 2273 8610 Email: ir@btsgroup.co.th Website: www.btsgroup.co.th Disclaimer This document has been prepared and distributed by the Investor Relations Department of BTS Group Holdings Plc. (“BTSG”) solely for information purposes. It does not represent or constitute an offer, invitation, recommendation or solicitation to trade shares in BTSG and should not be relied on as such. Some of the information in this document has not been independently verified, and also includes information made available from public sources and other third party opinion or analyst. BTSG does not monitor or control the content of third party opinion or statements and does not endorse or accept any responsibility for the content or the use of any such opinion or statements. Thus, BTSG assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the information described herein. None of BTSG or any of its agents, or all of their respective affiliates, or representatives shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. All information contained in this document is presented as of the date indicated within, and BTSG assumes no duty to confirm, revise or update the information. Certain statements in this document may be deemed to contain forward-looking statements, including the statements included or incorporated with the words "believe", "anticipate", "estimate", "target", or "hope", or that otherwise relate to objectives, strategies, plans, intentions, beliefs or expectations or that have been constructed as statements as to future performance or events. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time the forward-looking statements are made. Thus, BTSG assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the forward-looking statements. BTSG undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. BTS Group General Presentation prepared by Investor Relations department 2 BTS Group Holdings PCL
Contents Section 1 BTS Group Holdings PCL Section 2 Group Profile Section 2.1 Mass Transit Business Section 2.2 Media Business Section 2.3 Property Business Section 2.4 Services Business Section 3 Financial Summary Appendices Appendix 1: Key Terms of the Core Network Concession Agreement Appendix 2: Future Funding Requirements (Mass Transit) Appendix 3: BTS-W3 Appendix 4: Saphan Taksin Station Removal Appendix 5: BTSC’s Quality Management System Appendix 6: Fare Adjustment History – Bangkok Concessions BTS Group General Presentation prepared by Investor Relations department 3 BTS Group Holdings PCL
BTS Group History APR: BTSC sold the future Net Fare-box Revenue under its Concession Agreement to BTS Rail Mass Transit Infrastructure Fund (BTSGIF) Company established as Tanayong established a BTSC exit court Tanayong acquired 94.6% of BTSC, Tanayong Co., Ltd. to wholly-owned subsidiary, supervised returning Mass Transit operations to be operate in property Bangkok Transit System rehabilitation the primary business of the Company. development field procedure Corporation Ltd. (BTSC), The Company also changed its name to which won the SkyTrain BTS Group Holdings PCL concession bid 1968 1991 1992 1999 2008 2009 2010 2012 2013 MAY: BTSC signed a 30-year operating & maintenance (O&M) contract covering all Green Line extensions under BTSC expanded into Media Tanayong listed on The Commercial operation of the purview of the Bangkok business through the the BTS SkyTrain began Stock Exchange of Metropolitan acquisition of 100% of VGI Thailand under Property Administration (BMA) Global Media Co., Ltd. Development sector OCT: The Group’s Media subsidiary, VGI Global Media PCL, listed on The Stock Exchange of Thailand BTS Group General Presentation prepared by Investor Relations department 4 Section 1: BTS Group Holdings PCL BTS Group Holdings PCL
Shareholding Structure 1 KANJANAPAS FAMILY TOP INSTITUTIONAL INVESTORS OTHERS 41.0% 1 19.1% 1 39.9% 1 OTHERS BTS GROUP 2.5% , 407.7 mn shares MASS TRANSIT MEDIA PROPERTY SERVICES 14.5% 33.3% 97.46% TANAYONG INTERNATIONAL BTS ASSETS CO., LTD. TANAYONG FOOD & 100% 100% 100% VGI GLOBAL LIMITED BTSGIF BTSC BEVERAGE CO., LTD. 51.0% 2 MEDIA PCL PRANNAKIRI ASSETS 100% TANAYONG HONG KONG LTD. 100% TANAYONG PROPERTY CO., LTD. 100% VGI ADVERTISING MANAGERMENT CO., LTD. 100% 100% CARROT REWARDS CO., LTD. MEDIA CO., LTD. SIAM PAGING AND 100% 100% YONGSU CO., LTD. COMMUNICATION 100% 999 MEDIA CO., LTD. PRIMARY KITCHEN CO., LTD. 100% CO., LTD. 70% THANA CITY GOLF & MAN KITCHEN CO., LTD. 888 MEDIA CO., LTD. 100% 100% SPORTS CLUB CO., LTD. KAMKOONG PROPERTY 100% 50% CO., LTD. POINT OF VIEW (POV) 100% LITTLE CORNER CO., LTD. MEDIA GROUP CO., LTD. NUVO LINE AGENCY 100% 100% DNAL CO., LTD. CO., LTD. HHT CONSTRUCTION CO., LTD. 51% VGI ADVERTISING CHINA 100% 87.5% CO., LTD. MUANGTHONG ASSETS MAK8 CO., LTD. 100% CO., LTD. ABSOLUTE HOTEL SERVICES 50% CO., LTD. MIDAS GLOBAL MEDIA 50% BAYSWATER CO., LTD. 30% CO., LTD. 75.47% BTS LAND CO., LTD. 100% 50% BTS SANSIRI HOLDING ABSOLUTE HOTEL SERVICES 12.26% Listed entities 24.89% MASTER AD PCL ONE LTD. HONG KONG LIMITED Subsidiaries BANGKOK PAYMENT Associates 60% SOLUTIONS CO., LTD. BANGKOK SMARTCARD 90% SYSTEM CO., LTD. 1 Information based on the close book date as at 10 Jun 14 with total issued shares = 11,914.2mn shares 2 BTSG holds 65.49% of VGI indirectly and directly BTS Group General Presentation prepared by Investor Relations department 5 Section 1: BTS Group Holdings PCL BTS Group Holdings PCL
BTS Group Overview 4 Business Units Historical operating revenues (1) Revenue contribution MASS TRANSIT Mass Transit Revenue (THB mn) 6,016 5,177 FY 13/14 1H 14/15 2,312 32% 26% 1,154 FY 11/12 FY 12/13 FY 13/14 1H 14/15 MEDIA Media Revenue (THB mn) 3,121 FY 13/14 1H 14/15 2,795 1,959 1,541 36% 43% FY 11/12 FY 12/13 FY 13/14 1H 14/15 PROPERTY Property Revenue (THB mn) 2,934 FY 13/14 1H 14/15 1,445 33% 18% 728 650 FY 11/12 FY 12/13 FY 13/14 1H 14/15 Services Revenue (2) (THB mn) SERVICES FY 13/14 1H 14/15 399 270 5% 7% 121 1 FY 11/12 FY 12/13 FY 13/14 1H 14/15 (1) FY ended 31 March (2) Services revenue excludes revenue of HHT Construction (Thailand) Co., Ltd. as it is consolidated as cost of project under Property business BTS Group General Presentation prepared by Investor Relations department 6 Section 1: BTS Group Holdings PCL BTS Group Holdings PCL
BTSG at a glance PROGRESSIVE DIVIDEND POLICY KEY FIGURES (as of 31 Mar 2014) THB (mn) USD (mn)* Minimum THB 21bn committed dividends over 3 years OPERATING REVENUE 8,767 268 No less than THB 6bn in 2013/14 OPERATING EBITDA 3,423 105 No less than THB 7bn in 2014/15 No less than THB 8bn in 2015/16 NET INCOME** 12,645 387 TOTAL ASSETS 76,757 2,350 Not less than 50% of net profit *Source: Bank of Thailand, based on weighted-average Interbank Exchange Rate of (stand alone basis) USD 1 = THB 32.657 as of 28 May 2014 **to equity holders of the parent EMPLOYEES (as of 31 Mar 2014) SHARE INFORMATION (as of 31 Dec 2014) MASS TRANSIT 2,037 STOCK CODE BTS MEDIA 514 OUTSTANDING SHARES (MN SHARES) 11,914.2 MARKET CAPITALISATION (THB MN) 114,095.9 PROPERTY 821 MARKET CAPITALISATION (USD MN) 3,472.2 SERVICES 378 AVERAGE DAILY TRADED VALUE (THB MN) 468.0 BTS GROUP HOLDINGS 63 AVERAGE DAILY TRADED VALUE (USD MN) 14.2 TOTAL 3,813 BTS Group General Presentation prepared by Investor Relations department 7 Section 1: BTS Group Holdings PCL BTS Group Holdings PCL
Investment Highlights GROWTH INCREASE IN RIDERSHIP: Prime beneficiary of mass transit development and market share shift from bus to rail. Increasing ridership on Core network; increasing ‘eyeballs’ for BTS -related media GROWING WITH RETAIL PARTNERS: automatic rights to manage advertising space in new Modern Trade branches SHAREHOLDER RETURN HIGH DIVIDEND YIELD: 3-year progressive dividend policy with minimum committed amount of THB 21bn SECURE BUSINESS: underlying concession with advertising rights on BTS until 2029; O&M contract until 2042 OPPORTUNITIES STRONG FINANCIAL POSITION: BTS Group has excess cash and liquid investments of THB 29.3bn FUTURE MASS TRANSIT LINES: potential developer and operator of future mass transit lines and extensions EXPANSION OF FRANCHISE: expansion of VGI Global Media franchise to new extension lines and other markets BTS Group General Presentation prepared by Investor Relations department 8 Section 1: BTS Group Holdings PCL BTS Group Holdings PCL
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