G ENERAL E NGINEERING P UBLIC C OMPANY L IMITED O PPORTUNITY D AY M ARCH 28, 2017
A GENDA GEL O VERVIEW O PPORTUNISTIC AND G ROWING C ONSTRUCTION I NDUSTRY C ONTINUE THE S UCCESS S TORY – 2017 K EY D RIVERS Q&A - S TRICTLY CONFIDENTIAL -
GEL O VERVIEW
K EY M ILESTONES AND C OMPANY ’ S T URNAROUND GEL IS THE MANUFACTURER OF PRE - STRESSED CONCRETE PILE , PRECAST CONCRETE ELEMENTS , GLASS - FIBER REINFORCED CONCRETE , CONSTRUCTION CHEMICAL MATERIAL AND POST - TENSIONED SLAB . - S TRICTLY CONFIDENTIAL -
O UR P RODUCTS G LASSFIBER R EINFORCED P RESTRESSED C ONCRETE P LIES P RECAST C ONCRETE P OST -T ENSIONED S LAB S PECIAL C EMENT P RODUCTS C ONCRETE • R ECTANGULARPILE , • D ESIGN • S AVING ON MATERIALS , WIDER • F IBERGLASS • DENKA SPECIAL H OLLOW FLEXIBILITY , – HIGH REINFORCED CEMENT PILE , I- SHAPE PERFORMANCE , SPAN , JOINT FREE , WATERPROOF BEING NON - SHRINK CEMENT & RECTANGULAR LOW CONCRETE WITHOUT STEEL PILE , P RESTRESSED MAINTENANCE , FLOOR , CONCRETE FAST FASTER SPEED OF REINFORCEMENT SUPPORTINGAHIGH PRESSURE CONSTRUCTION , SPUN PILES FACTORY CONSTRUCTION • M AKING PRODUCTS IN VARIOUS • N OISE BARRIER – USED FOR THE CONTROLLED , LOW COST AND • B EING EFFICIENT PILES SAVING • U SED FOR CAR PARK BUILDING , SHAPES WITH RESOLUTION PREVENTION OF NOISE LABOR SAVING POLLUTION . S UPER SKIM COAT TIME AND COSTS OF HIGH RISE BUILDING FLOOR INFORM • H AVING – A THIN PLASTER ADHESION CONSTRUCTION THE CAPACITY OF • H AVING • H AVING THE CAPACITY OF THE CAPACITY OF 1,000,000 SQ . METERS AS AT • H AVING • H AVING 600,000 SQ . METERS AT 31 2,500,000 KG . AS AT 31 D EC THE CAPACITY OF THE CAPACITY OF 31 D EC 2016, 58% 165,000 CUBIC METERS AS AT D EC 2016, 76% UTILIZATION 2016, 20% UTILIZATION 21,00,000 KG . AS AT 31 D EC UTILIZATION 31 D EC 2016, 67% 2016, >100% UTILIZATION UTILIZATION *GEL is also a distributor of steel products and ready-mixed concrete products - S TRICTLY CONFIDENTIAL -
2016 P ERFORMANCE O VERVIEW G ROSS PROFIT S ALES BREAKDOWN BY PRODUCT ( UNIT : MILLION BAHT ) ( UNIT : MILLION BAHT ) 1,586 PCP +23% 1,292 +6% PW 271 PT 245 Others +63% 71 +12% +16% 30 2015 2016 Q42015 Q42016 FY2015 FY2016 I N 2016 H ISTORICAL RESULT OF THE COMPANY • R EVENUE INCREASED 23% ( UNIT : MILLION BAHT ) 60% • C OST OF SALES INCREASED AS 2016 IS THE YEAR OF 1,600.00 1,200.00 40% “L EARNING C URVE ” 23% 18% 23% 800.00 19% 17% • “ H IGH PRICE COMPETITION ” IS A ONE OF KEY FACTOR 16% 16% 13% 12% 20% 400.00 19% 19% 6% 16% THAT EFFECT OVERALL RESULT , THE GROSS PROFIT - 0% 3% 2008 2009 2010 2011 2012 2013 2014 2015 2016 -400.00 MARGIN IS STILL REMAIN THE SAME PERCENTAGE FROM -20% -10% -13% -800.00 PREVIOUS YEAR EVEN SELLING PRICE DROPPED BY 10 % -27% -35% -1,200.00 -40% Revenue from sales %NPM %NP %GPM AS GEL HAD FOCUSED ON C OST - REDUCTION POLICY . - S TRICTLY CONFIDENTIAL -
EBITDA AND N ET P ROFIT L EVEL EBITDA (T HE COMPANY ONLY ) ( UNIT : MILLION BAHT ) T HE COMPANY ONLY FY2015 FY2016 800 Net one time transactions Operating 600 E BITDA 77 169 324 400 243 70 170 169 N ET P ROFIT 42 99 52 200 77 254 18 145 191 169 113 26 - - - -36 -62 -124 -60 -76 2008 2009 2010 2011 2012 2013 2014 2015 2016 N ET G AIN – O NE - - -200 -62 -106 -76 -169 TIME TRANSACTION -228 -400 -600 N ET L OSS – O NE TIME TRANSACTION N ET P ROFIT (T HE COMPANY ONLY ) ( UNIT : MILLION BAHT ) 36 - DISPOSAL OF 600 INVESTMENTS IN 400 SUBSIDIARIES 242 244 160 52 200 70 99 42 191 145 174 99 78 A DJUSTED EBITDA 113 169 - 18 15 - - -36 -72 -73 -87 -137 2008 2009 2010 2011 2012 2013 2014 2015 2016 -169 A DJUSTED NET PROFIT 78 99 -72 -200 -119 -87 -242 -400 -600 - S TRICTLY CONFIDENTIAL -
F INANCIAL S TATUS F INANCIAL S TATUS U NIT : MILLION BAHT 5,120 5,820 T OTAL T OTAL L IABILITIES CA L IABILITIES 1,033 999 498 CA 816 4,821 4,622 4,788 E QUITIES 4,304 N ON -CA E QUITIES N ON -CA 2016 2015 • T OTAL A SSETS AS OF D ECEMBER 31, 2016 WAS 5,820 MILLION BAHT , AN INCREASED BY 700 MILLION BAHT DUE TO THE INCREASING OF MACHINERY AND EQUIPMENT • T OTAL L IABILITIES AS OF D ECEMBER 31, 2016 WAS 999 MILLION BAHT , AN INCREASED BY 501 MILLION BAHT DUE TO THE C OMPANY INCREASED LOAN FROM THE FINANCIAL INSTITUTE AND TRADE ACCOUNT PAYABLE - S TRICTLY CONFIDENTIAL -
O PPORTUNISTIC AND G ROWING C ONSTRUCTION I NDUSTRY
2017 O PPORTUNISTIC AND G ROWING C ONSTRUCTION I NDUSTRY G ROWTH F ACTORS IN C ONSTRUCTION I NDUSTRY H IGH DEMAND FROM GOVERNMENT 36 P ROJECTS OF ACTION PLAN IN 2017 SECTOR FOR INFRASTRUCTURE WITH TOTAL BUDGET APPROXIMATELY 900 BILLION B AHT PROJECTS EEC IN E ASTERN S EABOARD WHICH C ABINET APPROVED BUDGET OF 7 LONG FOR 5 YEARS (2017 – 2021) BILLION BAHT FOR 2017-2018 H IGHLY DEMAND IN THE A REA : CBD AND THE SURROUNDING RESIDENTIAL P ROJECTS AREAS ALONG BTS & MRT L INES “T OTAL S OLUTION P ROVIDER ” GEL BECOMING A “T OTAL S OLUTION P ROVIDER ” TO STRENGTHEN A POSITION IN AN OPPORTUNISTIC AND CONSTRUCTION INDUSTRY S OURCE : NESDB, I NTERNAL S TUDY BY GEL T EAM - S TRICTLY CONFIDENTIAL -
C ONTINUE THE S UCCESS S TORY
C ONTINUE THE S UCCESS S TORY 2017 K EY D RIVERS 1. S TRENGTHEN THE CORE A TTAIN EXPERIENCED MANAGEMENT TEAM AND COMMITTED TO GOOD CORPORATE GOVERNANCE 2. I NTEGRATED VALUE CHAIN R EDUCE COST AND MINIMIZE OPERATIONAL RISK 3. N EW MARKET PENETRATION L OCATION EXPANSION TO E ASTERN S EABOARD AND M YANMAR TO ACQUIRE OVERSEA CUSTOMERS 4. E XTEND PRODUCT PORTFOLIO DIVERSIFICATION W ELL - BALANCED PRODUCT MIX TO ENLARGE MARKET SIZE AND IMPROVE MARGIN 5. E NHANCE CUSTOMER BASE AND ESTABLISH LONG - TERM RELATIONSHIP B ECOME “ T OTAL S OLUTION P ROVIDER ” AND CUSTOMER PARTNERSHIP 6. I MPROVE OPERATIONAL EFFICIENCY I MPLEMENT CENTRALIZED PLATFORM TO ENSURE INTEGRATED INFORMATION ACROSS WORKING TEAMS - S TRICTLY CONFIDENTIAL -
1. S TRENGTHEN THE C ORE A TTAIN TALENTED AND EXPERIENCED MANAGEMENT TEAM AND B OARD OF D IRECTORS C OMMIT TO GOOD CORPORATE GOVERNANCE , IMPROVING CORPORATE GOVERNANCE RATING 3/5 IN 2016 MR. THITIPONG TANGPOONPHONVIVAT DR. TAWAT ANANTANAVANICH PROF.DR. BORWORNSAK UWANNO CHAIRMAN EXECUTIVE OFFICER/ DIRECTOR MANAGING DIRECTOR/ DIRECTOR CHAIRMAN OF THE BOARD OF DIRECTORS DR. VICHYA KREA-NGAM M R . SUCHAT BOONBANJERDSRI MR. SOPHON PHOLPRASIT MRS. PHANNEE JARUSOMBAT INDEPENDENT DIRECTOR/ CHAIRMAN OF THE AUDIT COMMITTEE/ VICE CHAIRMAN OF THE BOARD OF DIRECTORS/ INDEPENDENT DIRECTOR/ AUDIT COMMITTEE INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR AUDIT COMMITTEE MR. WIRACH MORAKOTKARN MR. WUTTICHAI SRESTHABUTRA INDEPENDENT DIRECTOR DIRECTOR - S TRICTLY CONFIDENTIAL -
2. V ALUE C HAIN I NTEGRATION V ERTICALLY AND HORIZONTALLY INTEGRATE TO MINIMIZE OPERATIONAL RISK , IMPROVE EFFICIENCY AND REDUCE COST THROUGHOUT THE VALUE CHAIN V ALUE C HAIN D ESIGNER C ONTRACTOR R AW M ATERIAL F INISHED P RODUCTS AND D EVELOPER L OCAL S UBSIDIARY PARTNERS M C T RIC C O ., L TD . M ILLCON S TEEL PCL R EINFORCED S TEEL P ROJECT OWNER / W IRE R OD D EVELOPER PC W IRE / PC S TRAND W ELL - KNOWN S EVEN W IRE C O ., L TD . A RCHITECTURES AND S TRUCTURAL S TEEL O VERSEAS P ARTNERSHIP ENGINEERING FIRMS M ILLCON T HIHA GEL, LTD. O VERSEAS T ECHNOLOGICAL P ARTNER AND M ACHINE M AKER - S TRICTLY CONFIDENTIAL -
3. N EW MARKET PENETRATION S ITE EXPANSION TO E ASTERN S EABOARD AND M YANMAR TO ACQUIRE NEW CUSTOMERS IN UNTAPPED MARKET T HILAWA I NDUSTRIAL Z ONE – C OMPLETED P RECAST C ONCRETE E LEMENTS — C OMPLETED L OCATION : M YANMAR L OCATION : C HIANG R AK N OI , P ATHUM T HANI T OTAL INVESTMENT : 440 MTHB o 45% JV WITH M ILLCON E NGINEERING L TD . o F ACTORY AND DISTRIBUTION OF STRUCTURAL STEEL PRODUCT C APACITY : T OTAL I NVESTMENT : U P TO 16 MUSD o A UTO FACTORY – 640,000 M 3 C APACITY : 64,000 TON / YR o S PECIAL FACTORY – 200,000 M 3 S TATUS : COD 3Q16 S TATUS : COD 2Q2015 P RESTRESSED C ONCRETE P ILES L OCATION : C HIANG R AK N OI , P ATHUM T HANI T OTAL INVESTMENT : 280 MTHB C APACITY : 132,000 M 3 M YANMAR S TATUS : E XPECTED COD 1Q2017 T HAILAND PC W IRE / PC S TRAND AND C OLD D RAWN W IRE L OCATION : R AYONG T OTAL INVESTMENT : 701 MTHB T OTAL CAPACITY : 30,000 T ON / YR S TATUS : E XPECTED COD 3Q2017 - S TRICTLY CONFIDENTIAL -
4. E XTEND P RODUCT P ORTFOLIO D IVERSIFICATION I MPROVE PRODUCT MIX TO ENLARGE MARKET SIZE AND CAPTURE HIGHER VALUE OF TOTAL PROJECT S PECIAL C EMENT S KIM C OAT N ON S HRINK G ROUT C ONSTRUCTION C HEMICAL W ATER P ROOFING C APTURE LARGER PROJECT VALUE , W ATER STOP FROM 5% TO 40% S EALANT P RECAST C ONCRETE A DMIXTURE S LAB W ALL S TAIRS G LASS FIBER R EINFORCED B EAM C ONCRETE L IFT AND STAIRS CORE T RADING S TEEL F OUNDATION R EADY M IXED C ONCRETE F LOORING P RE - STRESSED C ONCRETE P ILE (I/S QUARE ) P OST -T ENSIONED S YSTEM W IRE M ESH B ORED P ILE (D RY P ROCESS ) A LPHA -T RUSS C EMENT S PUN P ILE B IAXIAL S LAB L IGHTWEIGHT B RICK - S TRICTLY CONFIDENTIAL -
4. E XTEND P RODUCT P ORTFOLIO D IVERSIFICATION ( CONT ’ D ) E XPANSION IN O THER P RODUCT R ATIO AS WELL AS GROWTH IN R EVENUE OVER THE P AST 4 Y EARS 2010 – 2016 R ATIO OF P ILES VS . O THER P RODUCTS 100% 27% 30% 32% 33% 37% 80% 45% 53% 60% 40% 73% 70% 68% 67% 63% 55% 47% 20% 0% 2010 2011 2012 2013 2014 2015 2016 PCP O THERS - S TRICTLY CONFIDENTIAL -
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