1Q 1Q 20 2019/2 /20 BTS GR GROUP EARNINGS PRESENTATION 20 AUGUST 2019 N N N N N 9 10 11 12 13 Ladphrao Lad Pha haholy lyothin in 24 24 Ratchayothin in Senanik Se ikhom Kasetsart Un Ka Univ iversit ity Interse In rsecti tion
Dis isclaimer 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 Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 2 BTS BTS Grou oup Hol Holding dings PCL
Agenda SECTION 1 SE 1Q 1Q 20 2019/2 /20 FIN FINANCIAL PER ERFORMANCE SECTION 2 SE BUSINESS UP UPDATES SE SECTION 3 APPENDICES BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 3 BTS BTS Grou oup Hol Holding dings PCL
1Q 1Q 20 2019/20 Hig ighlights P&L L HI HIGH GHLIGHTS FINANCIAL POSITION 3MTH 3M TH CA CASH FLOW Robust growth in Balance sheet Financing cash earmarked for revenue and profitability strengthening further investments in Mass Transit projects Ope peratin ing Revenue of f THB THB 9. 9.1bn bn Cash & Li Cas Liqu quid id Investments Cash rece Cas ceiv ived THB 32. THB 32.4bn bn +194% YoY fr from om the issu ssuance of f Gr Green Bond ond THB 13bn +13.7bn QoQ Net cas cash rece ceiv ived mai ainly ly Ope peratin ing EBITDA of f THB THB 1.6b 6bn from fr om sal sale of f VGI GI an and d VGI GI-W2 +44% YoY Low leverage THB 3.8bn despite the increase in debt Adj djusted Net D/E D/E Net investments in Net Recu currin ing Profit fit of f 1.0b 0bn 0. 0.82x 82x Pink k & Yellow Li Lines & +113% YoY Gr Green Extension ion THB 5.9bn BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 4 BTS Grou BTS oup Hol Holding dings PCL Section 1: 1Q 2019/20 Financial Performance
1Q 20 1Q 2019/20 Overview P&L &L SNAPSHOT INCOME STATEMENT (THB mn mn) 1Q 2019/2 /20 1Q 2018/1 /19 % YoY 4Q 2018/19 % % QoQ Operating Revenue 1 9,086 3,090 194% 10,033 (9)% Gross operating profit 2,178 1,511 2,270 44% (4)% Operating EBITDA 2 1,663 1,157 44% 1,719 (3)% Recurring net profit – after MI 1,006 967 472 113% 4% Accounting EBITDA 2,073 1,114 86% 1,736 19% Net income (loss) 3 894 387 131% 628 42% Gross operating profit margin (%) 24.0% 48.9% 22.6% Accounting EBITDA margin (%) 21.5% 33.5% 16.9% Recurring net profit margin – after MI(%) 10.5% 15.1% 9.3% Operating EBITDA margin (%) 18.3% 37.4% 17.1% 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 1 Q 2019/2 /20 OPE OPERATING REVE REVENUE BR BREAKDOWN OPE OPERATING REVE REVENUE COMPARISON (YoY) ( THB mn) Media Me 15% 22% 22% (2)% )% 298% 454% 4% Mas Mass Tran ransit 9,086 358 (1) 245 5,395 79% Property 1% 1% Services 3,090 5% 5% Q1 FY18/19 1Q 18/19 Mass Transit Media Property Services Q1 FY19/20 1Q 19/20 BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 5 BTS BTS Grou oup Hol Holding dings PCL Section 1: 1Q 2019/20 Financial Performance
3M 3M 20 2019/20 Cas ash Flo Flow Snapshot CFO CFI CFF • Profit before tax of THB 1.3bn, deducted • Net investment for construction of the Pink and • An increase in long-term debentures of THB 13.0bn by Yellow lines of THB 3.5 bn from BTSG issued ‘Green Bond’ debentures • Non-cash reconciling items of THB 29mn • Net cash paid for acquisitions of current and • Net increase in long-term loans from financial • Changes in net working capital of THB other long-term investments of THB 3.0bn institutions of THB 4.5bn mainly for the Pink and 3.8bn (this includes net investment in • Cash received in advance from sale of Yellow lines mass transit projects of THB 2.4bn) investment in Bayswater of THB 2.3bn • Net cash received mainly from sale of VGI and VGI- W2 of THB 3.8bn • Cash received from the exercised BTS-W4 of THB 583mn • Net cash paid for short-term loans from financial institutions and bills of exchange payables of THB 3.9bn ( THB mn) (3) 17,871 15,066 3 (3,655) 2 (3,168) 1 4,021 Beginning cash CFO CFI CFF Others Ending cash (31/3/19) (30/6/19) 1 CFO included • Corporate income tax of THB 72mn • Net interest expenses of THB 520mn • Net investment for construction of the Pink and Yellow Lines of THB 1.0bn • Net investment for E&M works and trains procurement for the Southern and Northern Green Line extensions of THB 1.4bn 2 CFI included net investment for construction of the Pink and Yellow Lines of THB 3.5bn 3 Excluding liquid investments of THB 17.4bn BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 6 BTS Grou BTS oup Hol Holding dings PCL Section 1: 1Q 2019/20 Financial Performance
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