Opportunity Day Company’s Performance Year 2018 19 March 2019 integration innovation intimacy
1 Our Business YE2018 Financial Performance 2 AGENDA Business Outlook for 2019 3 integration integration innovation innovation intimacy intimacy
Our Business LOGISTICS AIR FREIGHT MANAGEMENT SEA FREIGHT CHEMICAL & INLAND & SPECIALTY TRANSPORT LOGISTICS 2 2
AIR FREIGHT ▪ Cargo General Sales Agent (GSA): exclusive sales agent of • Thai AirAsia & Thai AirAsiaX airline for all routes from and to Thailand • Sri Lankan, Lan Cargo, Bhutan and Jeju Airlines for all routes from Thailand ▪ Wholesale Freight Forwarder : providing domestic and international air freight services for co-loaders ▪ Air Cargo Terminal : International and domestic cargo terminal at Don Muang Airport 3
SEA FREIGHT & INLAND TRANSPORT ▪ Shipping Line Agencies : • Thailand sole agent for Rizhao Port Shipping Line • Thailand Joint Venture : CK Line ▪ Wholesale Freight Forwarder : Thailand Joint Venture with ECU Worldwide , global leader in Less-than Container Load (LCL) services with network in over 160 countries ▪ Inland Container Trucking Services: transport containers to and from seaport / container depot 4
LOGISTICS MANAGEMENT ▪ Integrated Freight Forwarder : International freight forwarding services for both sea & air transport and customs clearance for retail customers ▪ Warehousing : storage, inventory management, and real-time reporting ▪ Distribution Management : modern trade, shops, home delivery ▪ Fulfillment Service : focus on E-Commerce and end to end supply chain services 5
CHEMICAL & SPECIALTY LOGISTICS ▪ Integrated Freight Forwarder : International freight forwarding services for both sea & air transport and customs clearance for chemical & dangerous goods ▪ Dedicated Chemical Warehouse : storage, inventory management, and real-time reporting ▪ Inland and Distribution Management : for industrial and B2B market ▪ DG Packaging : sale of packing materials, DG declaration and repacking services ▪ ISO Tank Business : as agent for Nippon Concept Co., Ltd , a Japanese based ISO tank operator for liquid chemical 6
1 Our Business YE2018 Financial Performance 2 AGENDA Business Outlook for 2019 3 integration integration innovation innovation intimacy intimacy
Performance YE2018 – Revenue YE17 vs YE18 % Revenue Contribution YE17 vs YE18 YE17 vs YE18 Unit : Million Baht 2,770.6 ▪ Overall revenue grew from YE17 YoY 21% increasing services 2,294.6 ▪ BU Chemical revenue slightly grew due to decreasing of Packaging sale business YE17 YE18 Revenue YE17 YE18 YoY Airfreight 1,863.9 2,279.6 22% Sea freight 87.0 116.6 34% Logistics 105.4 135.0 28% YE18 Chemical 539.7 561.9 4% Total Revenue 2,596.1 3,093.1 19% Revenue Consol 1/ 2,294.6 2,770.6 21% Remark : 1/ After eliminating inter-company transactions. 8
Performance YE2018 – Gross Profit % Gross Profit Contribution YE17 vs YE18 YE17 vs YE18 Unit : Million Baht 23.2% ▪ Sea freight BU shows outstanding 17.5% performance in terms of GP growth YE17 ▪ Impacts to GP from Airfreight BU 531.4 YoY -9% 484.6 ▪ Change of cost recognition (Selling expense to COGS) ▪ Adjustment of accrued expenses in 2017 YE17 YE18 YoY Gross Profit YE17 YE18 Airfreight 320.7 249.9 (22%) Sea freight 38.5 71.7 86% Logistics 37.2 36.1 (3%) Chemical 142.1 132.9 (7%) YE18 Total Gross Profit 538.5 490.6 (9%) Gross Profit Consol 1 / 531.4 484.6 (9%) GPM 23.2% 17.5% Remark : 1/ After eliminating inter-company transactions. 9
Performance YE2018 – Net Profit % YE17 vs YE18 Unit : Million Baht YE17 YE18 Change Unit : Million Baht Total Revenue 2,294.6 2,770.6 20.7% Gross Profit 531.4 484.6 (8.8%) 5.6% 5.4% GPM (%) 23.2% 17.5% (5.7%) 150.7 Other Income 15.5 18.7 20.8% YoY 16% 129.6 Selling Expense 110.9 77.2 (30.4%) Admin Expense 281.0 295.2 5.0% (Loss ) Gain – Exchange rate (10.2) 7.0 n.m. P/L from JV & Associate 16.7 33.1 98.2% EBITDA 202.9 219.1 8.0% Net Profit Consol 129.6 150.7 16.2% YE17 YE18 NPM(%) 5.6% 5.4% (0.2%) EPS (Baht per share) 0.21 0.25 16.2% 10
Performance Y2018 Analysis Audited Performa Analysis Unit : Million Baht YE17 YE18 % Change YE17 YE18 % Change Total Revenue 2,294.6 2,770.6 20.7% 2,294.6 2,770.6 20.7% 498.2 /1 484.6 (8.8%) 484.6 (2.7%) Gross Profit 531.4 17.5% (5.7%) 21.7% 17.5% (4.2%) GPM (%) 23.2% 77.7 /1 77.2 (30.4%) 77.2 (0.7%) Selling Expense 110.9 Admin Expense 281.0 295.2 5.0% 281.0 295.2 5.0% 33.1 /2 33.1 98.2% 16.7 98.2% P/L from JV & Associate 16.7 Net Profit Consol 150.7 16.2% 129.6 150.7 16.2% 129.6 NPM(%) 5.6% 5.4% (0.2%) 5.6% 5.4% (0.2%) Note 1. Change of cost recognition (“Selling expense” to “Cost of sales and services”) resulting in decreasing Gross Profit Margin, while selling expense significantly decreased by 30.4% 2. Recognized 2H18 profit of DG Packaging Pte amount of 10.9 million baht, while existing Company’s Associated and Joint Ventures profit increased by 33% 11
Quarterly Performance Since Y2017 Cancel domestic Appreciation of Thai airfreight of Thai Post Baht 26.8% 2 5.4% 22.4% 146.5 20.2% 17.3% 143.2 17.5% 16.6% 16.5% 36.07 THB:USD 126.9 123.6 121.0 120.4 117.8 116.2 Gross Profit 32.85THB:USD 32.61THB:USD 43.7 43.1 42.7 YoY 113% 40.3 38.4 26.1 25.9 20.1 Net Profit Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Net Profit Total Gross Profit Note : Exchange rate as of 26 Feb 2019 = 31.29 THB:USD Gross Profit Margin Exchange rate Average Y17 = 34.10 THB:USD Daily THB:USD Exchange rate Average Y18 = 32.49 THB:USD 12
Financial Health YE2018 Financial Status Financial Ratio Ratio YE17 YE18 YE2018 Company Performance ROE (%) 1/ 17.8% 13.0% Collection Period (days) 56.9 42.1 Asset THB mm Lia THB mm 698 Cash 732 AP 443 Payment Period (days) 93.7 61.1 AR 420 IBD 33 Debt Performance 1,900 PPE 239 Current Ratio (times) 3.1x 2.1x 1,202 D/E Ratio (times) 0.4x 0.6x IBD/E Ratio (times) 0.0x 0.0x Interest Coverage Ratio (times) 27.0x 89.7x Asset Liability and Profitability Performance Equity Gross Profit Margin (%) 23.2% 17.5% EBITDA Margin (%) 8.8% 7.9% Net Profit Margin (%) 5.6% 5.4% EPS (Baht per share) 0.21 0.25 Liability Asset Trailing 12M EPS (Baht per share) 2/ 0.21 0.25 Equity Remark : 1/ Trailing 12M Net Profit 2/ Adjusted EPS based on existing shares at that time 13
Outstanding Performance with Highest Revenues and Net Profit ✓ Airfreight’s revenue whom is core business still continue growth 22% 22% 2,771 ✓ International warehouse business at DMK is more successful than expected and continue growth Revenue 2,295 ✓ Outstanding performance in terms of GP growth 86% through strategic alliance with Rizhao Shipping Lines YE17 YE18 Unit : MB ✓ Recognized half year 2018 performance of DG Packaging (SN) more than 10.9 MB 5.6%* 5.4%* Net profit 98% ✓ Performance from other JV&Associated growth 33% 151 130 JV & Associated ✓ Dividend payment of 0.17 Baht per share in May 2019 0.17 ✓ Dividend pay-out ratio is 68.2% (Consolidated NI2019) YE17 YE18 Remark : * Net Profit Margin 14
1 Our Business YE2018 Financial Performance 2 AGENDA Business Outlook for 2019 3 integration integration innovation innovation intimacy intimacy
Triple I Logistics 2021 Aspirations and Strategy Inorganic Growth Aspirations Organic growth Leading Thai Logistics House with sustainable growth in SEA and achieving significant growth by 2021 Partner-driven growth: Customer-driven growth: • Lock in key long term partners (airlines, network, Strategic • Maintain leadership position in DG as integrated authorities) directions logistics provider and grow regionally • Wholesale business model and related services • Integrated logistics provider for import businesses • Create new innovative products with partners (master piece for Thailand) 1. Air Freight 2. Sea Freight 3. Chemical 4. Logistics BU • • • • Partnership with Air Growth with CK Line Growth by further Growth via the current Strategy customer base and new Asia (grow and and Rizhao penetration of its customers in import maximize utilization) current customer base • Air cargo terminal at and acquisition of new businesses by DMK and HKT customers leveraging new IT platform Inorganic Inorganic Inorganic Inorganic • IT/Operations: Leverage digital technology to increase efficiencies, reduce costs and provide services to customers and provide business Enablers intelligence for decision making • HR/People: Fill key critical positions, review governance model 16
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