BTS GROUP HOLDINGS PCL FY 2018/19 EARNINGS PRESENTATION SET OPPORTUNITY DAY 6 JUN 2019
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 prepared by Investor Relations department 2 BTS Group Holdings PCL
Agenda SECTION 1 FY 2018/19 FINANCIAL PERFORMANCE SECTION 2 BUSINESS UPDATES SECTION 3 APPENDICES BTS Group Earnings Presentation prepared by Investor Relations department 3 BTS Group Holdings PCL
FY 2018/19 Highlights P&L HIGHLIGHTS FINANCIAL POSITION 12M CASH FLOW Strong growth in Balance sheet Expansion Investment phase continues; revenue and profitability and Strength Net investment in Balance Sheet expansion Operating Revenue of THB 47.9bn Pink & Yellow Lines of +240% YoY by 36% THB 24.6bn Operating EBITDA of 6.1bn Cash & Liquid Investments of Net investment in +49% YoY THB 18.7bn Green Line Extensions THB 4.1bn Low leverage Net Recurring Profit (after MI) despite the increase in debt Investment in of 3.2bn Adjusted Net D/E 1.03x Kerry Express Thailand +29% YoY THB 5.0bn BTS Group Earnings Presentation prepared by Investor Relations department 4 BTS Group Holdings PCL Section 1: FY 2018/19 Financial Performance
FY 18/19 Key Milestones Jun: Received the Notice-to- Dec: Full operation of the Mar: Submitted U-Tapao MASS TRANSIT Proceed for Pink and Yellow Lines Southern Green Line extension International Airport and (Bearing – Kheha), totalling Eastern City Development Project bid 12.6km, 9 stations Jul: Received 30-year O&M Contract of Gold Line Phase 1 Jul: VGI completed 23% Feb: VGI partnered with LAWSON Apr: New JV “ VClick ” to capture Oct: VGI launched new acquisition of Kerry Express to establish O2O ecosystem advertising opportunity in features of Rabbit Line Pay Thailand, total purchase price through Lawson Stores Chinese consumer market MEDIA which enable RLP users to of THB 5.9bn Mar: New JV “VGI AnyMind ” to top up BTS cards through incorporate AI solutions in Jul: MACO acquired “Trans. Ad RLP advertising Group” in order to support its digital media expansion Mar: VGI acquired 18.6% stake domestically and internationally in “ PlanB ”, valued THB 4.6bn Apr: U City Entered into the Share Oct: U City EGM approved (i) the Sale and Purchase Agreement to PROPERTY capital reduction to clear its dispose ordinary shares of Mo Chit deficit in order to pay dividend in Land, to STEC, worth THB 4.3bn the future and (ii) reverse-stock Apr: U City entered into share sales split to facilitate U’s trading and purchase agreement to acquire liquidity hotels in Germany and Switzerland Sep: BTSG was selected as a Feb: Interim dividend of THB 0.17 May: Disposed Bayswater JV shares to member of DJSI EM 2018 per share was paid. CPN, worth THB 7.7bn BTS GROUP May: THB 13bn first Thai Green Bond Sep: THB 9.5bn debenture issued issued (avg. coupon rate 3.41%) (avg. coupon rate 3.38%) May: BoD approved final dividend THB Nov: BTS-W4 issued, with 0.25 per share and the issuance of exercise price at THB 10.50 BTS-W5, exercise price at THB 14 (subject to shareholders’ approval) JUN – JUL SEP – DEC JAN – MAR APR - MAY 2019 2018 BTS Group Earnings Presentation prepared by Investor Relations department 5 BTS Group Holdings PCL Section 1: FY 2018/19 Financial Performance
FY 2018/19 Overview P&L SNAPSHOT INCOME STATEMENT (THB mn) FY 2018/19 FY 2017/18 % YoY Operating Revenue 1 47,923 14,102 240% Gross operating profit 7,869 5,778 36% Operating EBITDA 2 6,106 4,089 49% Recurring net profit – after MI 3,248 2,508 29% Accounting EBITDA 6,876 7,571 (9)% Net income (loss) 3 2,873 4,416 (35)% Gross operating profit margin (%) 16.4% 41.0% Accounting EBITDA margin (%) 13.9% 42.3% Recurring net profit margin – after MI(%) 6.6% 16.0% Operating EBITDA margin (%) 12.7% 29.0% 1 operating revenue of 4 BUs & share of net profit from BTSGIF 2 excluding non-mass transit interest income 3 to equity holders of the parent FY 2018/19 OPERATING REVENUE BREAKDOWN OPERATING REVENUE COMPARISON (YoY) ( THB mn) Media 11% 148% 47,923 (44)% 354% 31% Mass Transit Property 86% 663 (279) 1,221 32,216 1% 14,102 Services 2% FY17/18 Mass Transit Media Property Services FY18/19 BTS Group Earnings Presentation prepared by Investor Relations department 6 BTS Group Holdings PCL Section 1: FY 2018/19 Financial Performance
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