Market Data Price (baht) 0.75 P/E (times) N/A P/BV (times) 0.96 - PowerPoint PPT Presentation

Market Data Price (baht) 0.75 P/E (times) N/A P/BV (times) 0.96 Market mai Sector Resource No.Share (mil. share) 300 M Paid-up (mil. baht) 150 MB Market Cap (mil. baht) 225 MB Dividend Policy > 40% of net profit (separate FS) As of date : 25/11/2019 Source : SET

ABM Asia Biomass Public Company Limited STP Sathaporn Tanapat Co., Ltd. PPP Paprapat Co., Ltd. ABI PT Asia Biomass Indonesia ABE Asia Biomass Energy SDN. BHD. ABR Asia Biomass Resources SDN. BHD. ABP ABM Pellets Co., Ltd.

Products/Qualification Calorific Value (kcal/kg) Moisture (%) Ash (%) 3,400 - 3,800 25 - 27 Palm Kernel Shell Below 4 2,300 - 2,800 45 - 50 Wood Chips Below 3 4,000 - 4,400 8 - 10 Wood Pellets Below 3 3,700 - 4,000 10 - 18 Wood Shaving Below 2.5

  In AEDP2015, Electricity from Biomass tend to increase from Heat consumption from Biomass tend to increase with CAGR 6.3% to 22,100 ktoe in 2036F from AEDP2015 policy 2,815 MW to 5,570 MW with 3.47% CAGR  However, New PDP2018 plans to drop Biomass to 4,690 MW in 2037F

After Fukuchima Daiichi Nuclear Power Plant accident, Both Japan and Korea have launched new energy plan to boost renewable energy especially Biomass making demand of wood pellets increase in several years

9M/2019 2018 There are higher portion of Palm Kernel Shell in product of 9M/2019 because of woods price increased from many Thai woods manufacturing collapsed after Trade war between The US and China.

23.84% Overseas 1.32% Domestic 383.49 362.87 40.92% Overseas 69.09 52.62 Thousand tons Thousand tons 9.79% Domestic 107.27 124.69 314.40 310.25 16.74 9.89 107.95 97.38 9M/2018 9M/2019 Q3/2018 Q3/2019 Domestic Overseas Domestic Overseas 9M • Volume decreased especially Overseas volume from lower demand. Q3 • Domestic sales volume decreased due to Wood chip. Overseas sales volume decreased as customer postpone sales order and also Wood pellets price dumping in the region.

3.88% 952.02 915.06 Million baht Million baht 12.06% 311.85 274.23 9M/2018 9M/2019 Q3/2018 Q3/2019 The revenue from sales of the company decreased because of total sales volume dropped. However, the average selling price increased due to the increase in portion of high-priced products

8.30% 10.64% 25% 200 30% 80 19.98% 25% 17.74% 160 20% 21.65% 20% Million baht Million baht 15% 120 17.20% 15% 40 182.86 168.85 10% 80 59.37 53.66 10% 5% 40 5% - 0% - 0% Q3/2018 Q3/2019 9M/2018 9M/2019 Gross profit Gross profit margin Gross profit Gross profit margin The gross profit margin higher due to the company sells high-priced products with higher portion and focused on direct shipment sales to reduce in-bound transportation cost.

118.80% 4,791.67% 15 2% 4% 12 9 10.24 3% Million baht 9 1.12% 5.87 1% Million baht 6 2.14% 6 2% 4.68 0.49% 3 3 1% - 0% 0.12 9M/2018 9M/2019 0.04% - 0% EBITDA EBITDA Margin Q3/2018 Q3/2019 EBITDA EBITDA Margin EBITDA increased from higher Gross Profit EBITDA margin inclined softer than Gross Profit margin  Direct Shipment impact Selling expenses directly.  But Administrative expenses declined due to cost reduction policy.

32.16% 80.94% 9M/2018 9M/2019 Q3/2018 Q3/2019 - - - - (0.60%) (1.66) (5) (5) (2%) (2.79%) (1.18%) (10) (10) (8.71) Million baht Million baht (4%) (10.82) (1.68%) (2%) (15) (15) (15.95) (6%) (20) (20) (8%) (25) (25) (4%) (10%) (30) (30) Net profit Net profit margin Net profit Net profit margin The loss decreased from the company can manage effectively logistic system by transport goods from suppliers to customers directly affected positive impact to the company profitability

800 734.79 647.64 600 Current assets 386.62 Current assets Million baht 327.76 400 Non-current Non-current 200 assets assets 348.17 319.88 - Dec 31, 2018 Sep 30, 2019 Inventories increased because of the purchasing products according to the purchase plan during the low price period of Palm kernel shells. However, the company currently focuses on efficiency inventory management. Other non-current assets increased in bank deposits with obligation increased 30 million baht.

800 734.79 647.64 600 Liabilities Million baht Liabilities 508.44 408.2 400 200 Equities Equities 239.44 226.35 - Dec 31, 2018 Sep 30, 2019 Short-term loans inclined in line with an increase in inventory and bank deposits with obligation. However, the company plans to improve debt structure effectively. Account payable declined from purchased products from individual supplier which particularly had short payment period.

Current Ratio Cash cycle 1.00 120 120.52 0.91 100.79 76.53 74.37 99.55 85.67 80 77.12 0.81 0.81 62.67 56.81 0.80 54.77 Days 0.77 Times 40 0.75 38.23 38.67 38.06 38.49 36.16 0 (15.18) (14.55) (15.67) (18.34) (18.89) (40) Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Average Collection Period Inventory Period 0.50 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Payable Payment Period Cash Cycle Debt/Equity Ratio Total Assets Turnover 2.50 2.00 2.23 1.99 1.89 1.89 1.86 1.86 2.00 1.70 1.79 1.77 1.80 1.50 Times Times 1.64 1.00 1.60 0.50 - 1.40 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019 Q3/2018 Q4/2018 Q1/2019 Q2/2019 Q3/2019

• Focusing on volume of both Domestics and Overseas market. • Launching a new various products. • Optimize Logistic • Warehouse expansion in Rayong. • Reducing logistic cost both land and sea by improving volume. • Sourcing a diversity areas. • Contacted forest plantation with Forest Industry Organization’s • Owning production of Wood Chips and Wood Pellets.

Expected volume Sales Palm Kernel Shell ~ 264,000 Tons Wood Chips ~ 180,000 Tons Expected Volume exclude Others ~ 444,000 Tons Investment plans Wood Pellets at Bang Nam Chuet, Samut Sakhon ~ 14.5 Million Baht ~ 15 Million Baht Warehouse Expansion ~ 29.5 Million Baht Expected Investment Amount Certificated FSC-CoC/CW Expect Q1/2020 PEFC-CoC/CW

Contracted to purchase of Acacia species from the Forest Wood chips plant is installed at Bang Kung, Surat Thani with capacity 10,000 tons / month with 99% completed. Industry Organization in Southern with approximately 3,000 rai expected 30,000 tons of woods with 5 years contract.

Thank You Contact Asia Biomass PCL 273/2 Rama 2 Road, Samae Dam Sub-district, Bang Khun Thian District Bangkok Tel: 02-415-0054 Fax: 02-415-1102 Email: ir@asiabiomass.com Website: www.asiabiomass.com