FILTER VISION PUBLIC COMPANY LIMITED Opportunity Day : Q3.2019 November 25, 2019 At The Stock Exchange of Thailand 1
Disclaimer The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for share in Filter Vision Public Company Limited (“FVC” and shares in FVC “shares”) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon i n any connection with, any contract or commitment whatsoever. This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which FVC operates and general achievement of FVC business forecasts, which will cause the actual results, performance or achievements of FVC to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation. This presentation has been prepared by FVC. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of FVC or any of its agents or advisers, or any of their respective affiliates, advisers or representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation. This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes. This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws. 2
Contents Business Overview Financial Information Strategy and Outlook Q & A 3
Contents Business Overview Financial Information Strategy and Outlook Q & A 4
Business Overview FVC distribute, design, assembly, install and preventive maintenance of water treatment system and related products Industrial & OEM Commercial & Residential Medical Service B3 B1 B2 B3 (IRV) – Dialysis SOL N , Water and Facility for Hemodialysis ( HD ) B3 ( KTMS) – Hemodialysis Center B3 (MV) – Pneumatic Tube System B3 (HHC) – Healthcare and aesthetics 5
Business Overview B1 : Industrial and OEM Automatic Regenerate Semi Automatic Water Purifier Ultra Filtration Softener Filter Zero Discharge Wastewater Bio-Well for Dental Reverse Osmosis System Treatment System 6
Business Overview B1 : Industrial and OEM Auto Valves Filter Cartridge & Housing Pressure Vessel Fiberglass Tank 7
Business Overview B2 : Commercial and residential UV System Nitro-Coffee Prefilter R30-BB+7FC Triple+Claris L RO system + Everpure High Water system for drinking water and ice machine flow triple WATER INT PAD 8
Business Overview B3 : Medical service IRVING CORPORATION LIMITED Pure Water Treatment Chemical Hood System for HD Dialysate Solution Decoration for HD Dialyzer Cabinet 9
Business Overview B3 : Medical service KT MEDICAL SERVICE COMPANY LIMITED KT Medical Service Hemodialysis Center 10
Business Overview B3 : Medical service MEDICAL VISION COMPANY LIMITED Pneumatic Tube System 11
Business Overview B3 : Medical service HI HEALTHCARE CENTER COMPANY LIMITED Healthcare and aesthetics clinic under trademark “ Wuttisak Clinic” 12
Customer Segments Industrial & OEM (B1) 13
Customer Segments Industrial & OEM (B1) 14
Customer Segments Commercial & Residential (B2) 15
Customer Segments Commercial & Residential (B2) 16
Customer Segments Medical Service ( B3) 17
Content Business Overview Financial Information Strategy and Outlook Q & A 18
Financial Information Revenue ( 9M ) 3Q 19 Revenue Breakdown Bt. mil 656.71 631.34 700 B1 28% 600 B3 475.61 459.26 38% 500 394.31 360.75 364.91 B2 400 34% 300 200 100 3Q 18 Revenue Breakdown 0 2014 2015 2016 2017 2018 3Q'2018 3Q'2019 B1 increase/ 15% (Bt.mil) 3Q 2018 ( 9M ) 3Q 2019 ( 9M ) % ( decrease ) B3 B1 70.78 175.01 104.23 147.26% 46% B2 B2 187.07 218.05 30.98 16.56% 39% B3 217.76 238.28 20.52 9.42% Total 475.61 631.34 155.73 32.74% 19
Financial Information Gross Profit Margin 3Q 18 ( 9M ) & 3Q 19 ( 9M ) 31.64% YoY 28.59% 5.81% 27.21% 27.94% 26.34% 20.41% 19.11% 14.60% 2013 2014 2015 2016 2017 2018 3Q 2018 3Q 2019 Gross Profit Margin 20
Financial Information SG&A ( 9M ) (Bt.mil) SG&A was increased by 62.56% 157.81 YoY Mainly came from HHC has 60.73 recognize allowance for doubtful debt in an amounting % of baht 42.66 MB in this year. YoY 97.08 62.56% 129.06 Moreover SG&A was increased from different operation’s time due to last year HHC didn’t start 75.52 31.12 32.53 33.43 33.76 operation for fully year because the Company started operation 25.27 25.09 25.46 on 10 February 2018. 24.97 28.75 21.56 8.34 8.49 7.07 6.15 Q1'18 Q2'18 Q3'18 Q4'18 3Q 18 3Q 19 21 Selling Admin
Financial Information Net Profit & Net Profit Margin (Bt.mil) AMOUNT ( 9M ) 30.00 5.00% YoY 9 . 64 20.00 3.00% Margin 10.00 YoY 1.00% 0.60% - 1Q18 2Q18 3Q18 4Q18 3Q18 3Q19 -0.59% -1.00% (3.88) (6.30) (10.00) (10.95) -3.00% -3.55% (20.00) (17.88) (17.88) -3.76% -3.76% -4.36% -4.37% (30.00) -5.00% (27.52) Net Profit Net Profit Margin Net Loss ( 9M ) was increased from 3 Q’ 18 around 0.60% mainly came from Hi Healthcare Center Co., Ltd. can’t generate income for cover expense. However almost of loss was happened from allowance for doubtful debt. 22
Financial Information Balance Sheet (Bt.mil) Asset Equity Liabilities 1000 900 283.75 364.02 800 123.43 700 1,001.92 600 954.82 500 787.13 107.94 400 671.07 663.70 70.72 637.90 466.93 300 407.05 71.96 76.97 358.99 336.33 275.40 285.95 200 203.44 208.98 100 2013 2014 2015 2016 2017 2018 Q3'19 23
Financial Information ROA ROA & ROE were Q1 18 Q2 18 Q3 18 Q4 18 Q4 18 Q3 19 -0.45% decreased from Q‘ 4 -0.45% QoQ 2018 mainly came 3.30 % from Loss of -2.63% -2.86% Group's business -3.11% however almost of loss was happened -3.75% from allowance for ROE doubtful debt. Q 1 18 Q 2 18 Q 3 18 Q 4 18 Q 4 18 Q 3 19 -0.58% -0.58% QoQ 5.03% -3.30% -3.61% -3.82% 24 -5.61%
Financial Information D/E 0.57 change 0.15 0.42 0.42 0.34 0.32 0.27 Q1 18 Q2 18 Q3 18 Q4 18 Q4 18 Q3 19 25
Content Business Overview Financial Information Strategy and Outlook Q & A 26
FVC Road Map Food & Beverage Medical Service 2015 Expand market to Medical Service - Capital Increased to 195 MB. Sector . - Purchase land for new office and warehouse (BKK). 2014 Restructure Technical Service Department “Water Treatment” & “Food Equipment”. 2013 IPO on October 29, 2013. 27
FVC Road Map Food & Beverage Medical Service 2018 - Capital Increased to 355.50 MB. - Entered into franchisee of “ Wuttisak Clinic ”. - Start with new office and warehouse (BKK). - New Local Marketing & Operation in - Launching New Products ; Water INT and Nitro healthcare and esthetics business. Coffee. - Exercise the 63 HD machines. - Re-positioning in Industrial and OEM (B1) - Prepare the building in North to operate the - Recognize income from improve wastewater new hemodialysis center in 2019. 2017 treatment systems. - Purchase land in Chiang Mai. - Operated 2 new branch of Hemodialysis - Capital increased to 342.79 MB. Center. - Special project for discount store. - Capital increased to 40.00 MB. (KTMS) - Entered MOU with “ Wuttisak Clinic”. - Water treatment for dental. 2016 Operated Hemodialysis Center and Pneumatic Tube System. 28
FVC Road Map Corporate - Announce New Vision, Mission and Core Value. 2019 - Implement the ERP system for business. - Contract in wastewater treatment systems (expected to be over than income budget). Food & Beverage - Recognized income from WATER INT PAD in North. - Engagement in new organization for WATER INT PAD. - Operated not less than 10** branches of hemodialysis unit and exercise not less than 100** HD Machines. Medical Service - Recognized income from complete installation Pneumatic Tube System for 9 projects in Third quarter. - Expanding business in dialysis SOL n , water and facility for hemodialysis(HD). - Proper scaling and strategy for healthcare and aesthetics. 29
FVC Road Map : Plan 2020 - 2022 Corporate Balancing The Business’s Portfolio. Q2 ’ 19 Revenue Breakdown Uniformed Employer & Employee Branding. B1 28% B3 Supply Chain Mgmt. : Central 38% operation center, Utilities' Mgmt. Sale force management B2 Projected to spin-off Medical Service 34% to mai in 2021. 30
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