Analyst Meeting FY2018 Financial Results 25 February 2019 Ticker: BCPG (SET)
Disclaimer The information contained in this presentation is provided by BCPG Public Company Limited (the "Company") to you solely for your information. Neither this presentation nor any part hereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) redistributed, passed on or otherwise disseminated, to any other person either in your organization or elsewhere, without the prior written consent of the Company and its respective affiliates. By attending this presentation, participants agree not to remove this document, or any materials provided in connection herewith, from the conference room where such documents are provided without express consent from the Company and its respective affiliates. Although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, no representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. The information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the Company and its subsidiaries. None of the Company nor any of its respective affiliates nor any of its or their respective members, directors, officers, employees or affiliates assumes any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein. Accordingly, none of the above nor any other person accepts any liability (in negligence, or otherwise) for any loss arising from or in connection with any use of this presentation or its contents. This presentation is for information purposes only and does not constitute or form part of any offer or invitation by or on behalf of the Company for sale or subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities of the Company, nor shall it or any part of it form the basis of or be relied on in connection with any contract, commitment or investment decision in relation thereto (“Securities”) in Thailand, the United States or any other jurisdiction. This presentation should not be construed as legal, tax, investment or other advice. The information contained herein does not take into consideration the investment objectives, financial situation or particular needs of any particular investor, and should not be treated as giving investment advice. In addition, this presentation contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of the Company, that are not statements of historical fact which would be treated as forward looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks which are in many cases beyond the control of the Company, and which may change over time and may cause actual events and the Company's future results to be materially different than expected or indicated by such statements. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. Such forward ‐ looking statements are not guarantees of future performance and accordingly, the actual results, financial condition, performance or achievements of the Company may differ materially from those anticipated by the Company in the forward looking statements. The recipient is cautioned not to place undue reliance on these forward looking statements. In providing this presentation, the Company does not undertake to provide any recipient with access to any additional information or to update the information contained in this presentation or to correct any inaccuracies herein which may become apparent. 2
Agenda Recent Development Financial Highlights Business Outlooks 3
Agenda Recent Development Financial Highlights Business Outlooks 4
Key developments in 2018 Accomplished business growth strategy as planned Inv nves estm tment nt in as n asso sociate iates s Sol olar ar Assets sets Mon onet etiz ization ation New w Capa pacity ity Adde ded star arted ted to bear r fruit it Gotemba project (4.0 MW ac ) Completed two solar assets The first full-year recognition WVO project (8.94 MW) monetization of share of profit from Rooftop solar with P2P trading Recorded gain of THB 793 mn investments in Indonesia and platform (0.6 MW) the Philippines 5
Regulatory challenges New w measu sures res (1-year year rule) Public hearing since Dec 5, 2018. The new rule might affect 2 projects in pipeline. Yabuki Deadlin adline to get acceptance Deadlin adline to COD after of Grid Connection Work granted acceptance (27.9 MW application from Utility co. otherwise 36 JPY/kWh) otherwise PPA period reduction FiT reduce to 21 JPY/kWh (month-by-month basis) 1 year after acceptance Komagane Sep 30, 2019 Sep 30, 2020 (32.0 MW ✓ Got Exception (Construction over 66%) 36 JPY/kWh) 6 Remark: The new measure (1-year rule) is expected to be enforced within 1H19.
Rooftop portfolio Capturing market at the foundation Esta tabli blish shing ing block ockchai chain- based P2P electricity trading platform under “Smart City” concept: Pilot project at Town Sukhumvit 77 in collaboration with Chiangmai University, the first university in Thailand 1 2 Sansiri PCL to develop solar rooftop (12 MW) with energy trading platform in partnership with BCPG and Power Ledger Other r roofto top p solar lar projects cts: Partnership with Sansiri PCL Factories Gas station 7
Floating solar development Floati oating g solar: lar: Pilot project of 0.2 MW at Bang pa-in (Ayutthaya) sites Plan to sell electricity to Bangchak Biofuel Company after integrating with solar panels ground installation (2.1 MW) 8
Lomligor wind farm Expect to COD within April 2019 Project details Capacity ity 10 MW dc / 8.965 MW ppa THB 825 mn (Shares purchase of THB 219 mn and Capex ex estimated construction cost of THB 616 mn) Wholesale Tariff + Adder 3.50 THB/kWh (10 Yr) PPA PPA ( Average 6.60 THB/kWh) No. . turbin bine 4 turbines Capacity ity ~21.4% (5.1 hours) facto tor Over two-third of the construction progress has been completed which is slightly above plan. Two turbines have been assembled and will be installed within February 2019. Battery (1.5 MWh) helps stabilize system, improve efficiency and reduce degradation in the longer term. 9 Remark: Lomligor wind power plant acquisition has been completed since 18 June 2018
Our business footprint Operating 381.1 MW DC and continued growing Developing 182 MW 191 MW 30 MW Status Technology Thailand Operating Operating: 192 MW DC 361 MW 381 MW Developing: 10 MW Total: 202 MW DC Japan Operating: 17.4 MW DC Developing: 151.1 MW DC Total: 168.5 MW DC Monetized: 27.6 MW DC The Philippines Indonesia Operating: 14 .4 MW Operating: 157.5 MW Developing: 5.6 MW Developing: 24 MW Total: 20 MW Total: 181.5 MW 10 Geothermal Solar Wind Remark: For the Philippines and Indonesia, only equity MW is presented
Business portfolio Power r Generat atio ion Power er Genera ratio tion 1,607 Unit: GWh Unit: GWh TH TH 17% TH TH JP JP ID ID 3% 31% 847 3% PH PH 62% JP JP ID ID 5% 78% 274 263 PH PH 231 2% 130 2013 2014 2015 2016 2017 2018 2017: 847 GWh* 2018: 1,607 GWh (+89.7% YoY) Solar TH Solar JP Wind PH Geothermal ID Pro-fo forma ma Revenue e Installed lled & Equity ity MW in Portf tfolio lio Unit: MW Unit: THB mn 381 394 PH PH ID ID 19% 2% 43% TH TH 202 JP JP TH TH ID ID 169 169 47% 68% 11% 94 7% 3% PH PH JP JP 2017 THB 4,201 million* 2018: THB 6,616 million (+57.5% YoY) 2013 2014 2015 2016 2017 2018 Remark: * In 2017, the company has effective stake in subsidiaries for 7.5 11 Solar TH Solar JP Wind PH Geothermal ID months for wind power plants in the Philippines and 5 months for geothermal power plants in Indonesia.
Agenda Recent Development Financial Highlights Going Forward 12
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