BTS Group Holdings PCL SET OPPORTUNITY DAY 2Q 2016/17 EARNINGS PRESENTATION 2 9 N O V E M B E R 2 0 1 6 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. 2Q 2016/17 earnings presentation prepared by Investor Relations department 2 BTS Group Holdings PCL
Agenda Section 1 BTSG 2Q 2016/17 FINANCIAL PERFORMANCE Section 2 BUSINESS UPDATES APPENDICES 2Q 2016/17 earnings presentation prepared by Investor Relations department 3 BTS Group Holdings PCL
2Q 2016/17 Financial Highlights • Net recurring profit (before MI) was THB 445mn, rising 6% YoY from higher interest income and lower share of net loss from associates/JVs PROFITABILITY • Reported net profit (after MI) was THB 548mn, up by 16% YoY mainly from an increase in other recurring income as well as the recognition of some non- recurring gains • Balance sheet strength: -THB 16.1bn cash & liquid investments* -Low leverage: Net D/E ratio at 0.26x BALANCE SHEET • Company Credit rating: A / STABLE from FITCH & TRIS • Expansionary balance sheet: THB 22bn BTSC debenture issue *Cash and liquid investments include cash bal. of THB 2.5bn, current investments of THB 3.1bn, long term investments of THB 10.5bn All 4 BUs under investment stage: • Mass Transit: Rolling stock (BTSGIF & BTSC) and E&M work (Green line extensions) 6-MONTH CASH FLOW • Media: VGI (domestic and overseas) • Property: THB 1,462mn net loans mainly to BTS-SIRI JVs and Bayswater • Services: THB 750mn investment in Rabbit Line Pay 2Q 2016/17 earnings presentation prepared by Investor Relations department 4 Section 1: BTSG 2Q 2016/17 Financial Performance BTS Group Holdings PCL
2Q 2016/17 Major Developments • Media revenue grew substantially by 33% YoY from full quarterly MACO • Record Farebox revenue of THB 1,717mn up consolidation 7.2% YoY • Increasing buildings portfolio (to 146 MASS • Investment in new rolling stock (THB 1.2bn) MEDIA TRANSIT buildings from 118 buildings in 2Q 15/16) • O&M revenue rose by 4.1% YoY • Established footprint overseas (KL • The Pink and the Yellow line bid submission transaction) • The launch of the 5 th BTS- SIRI JV condo (“The Expansion of Services revenue of 20% YoY Base Rama 9”); 72% sold with 24% foreign due to participation • Services projects of BPS • JV backlog as of 30 Sep 16 of THB 14bn • Insurance commission revenue and PROPERTY SERVICES • Share of loss in BTS-SIRI JVs narrowed. THB content advertising revenue from Rabbit 864mn revenue recognised from the Line Internet Group Sukhumvit 71 • ChefMan restaurant 2Q 2016/17 earnings presentation prepared by Investor Relations department 5 Section 1: BTSG 2Q 2016/17 Financial Performance BTS Group Holdings PCL
2Q 2016/17 Overview P&L SNAPSHOT INCOME STATEMENT (THB mn) 2Q 2016/17 2Q 2015/16 %YoY 1Q 2016/17 % QoQ 1H 2016/17 1H 2015/16 %YoY Operating Revenues 1 1,722.3 1,704.1 1.1% 1,553.5 10.9% 3,275.8 3,276.0 0.0% Gross operating profits 996.5 1,001.9 (0.5)% 914.2 9.0% 1,910.7 1,923.0 (0.6)% Operating EBITDA 2 623.0 740.5 (15.9)% 636.1 (2.1)% 1,259.1 1,404.9 (10.4)% Net recurring profit – before MI 445.4 421.0 5.8% 460.8 (3.4)% 906.2 944.3 (4.0)% Accounting EBITDA 983.6 833.9 18.0 % 990.7 (0.7) % 1,974. 4 5,147.5 (61.6)% Net income (loss) 3 548.1 473.8 15.7% 548.0 0 .0% 1 ,096. 2 3,490.1 (75.2) % Gross operating profit margin (%) 57.9% 58.8% 58.8% 58.3% 58.7% Accounting EBITDA margin (%) 45.6% 42.3% 50.5% 48.2% 72.1% Recurring net profit margin (%) 2 3 . 6 % 2 5 . 3 % 2 6 . 5 % 2 5 . 0 % 2 7 .8% Operating EBITDA margin (%) 36.2% 43.5% 40.9% 38.4% 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 2Q 2016/17 OPERATING REVENUE BREAKDOWN OPERATING REVENUE COMPARISON (YoY) ( THB mn) Mass Transit (57)% 33% Media 37% 41% 20% 1,722 1,704 (1)% Services (9) 176 14% (188) 40 Property 8% 2Q 15/16 Mass transit Media Property Services 2Q 16/17 2Q 2016/17 earnings presentation prepared by Investor Relations department 6 Section 1: BTSG 2Q 2016/17 Financial Performance BTS Group Holdings PCL
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