Presentation including 2018 Results and 2019 Business Plan OPPORTUNITY DAY
Disclaimer The information (“Confidential Information”) contained in this presentation is strictly confidential and is provided by Ananda Development Public Company Limited (the “Company”) to you solely for your reference. Neither this presentation nor any part thereof 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. 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. Although care has been taken to ensure that the Confidential Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Confidential 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. None of the Company, or any of their respective members, directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. This presentation is for information purposes only and does not constitute or form part of any offer or invitation for sale or subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities, 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 in Thailand, United States or any other jurisdiction. Any such purchase should be made solely on the basis of the information contained in the announcements to the Stock Exchange of Thailand relating to such securities. No reliance may be placed for any purposes whatsoever on the information set forth in this presentation or on its completeness. This presentation contains projections and forward‐looking statements that reflect the Company's current views with respect t o 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 and these may change over time and in many cases are outside the control of the Company. You are cautioned not to place undue reliance on these forward looking 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, financ ial condition, performance or achievements of the Company may differ materially from those forecasted and projected or in the forward‐looking statements. 2
2018 Performance: Built to Last with Discipline TRANSFERS 33,171 A 20 YEAR JOURNEY 5,209 1999 2006 2008 2010 2011 2017 2018 2009 2012 2015 2016 2013 2014 Our JV with Global Political Bangkok IPO JV with Thailand Mourning Trade War 1 st Day Pramerica Financial Crisis Unrest Flooding Mitsui Coup Period Looming 3
2018 Performance: Deliver All Time High Transfers and Profits NET PROFIT ANANDA SHARE IN TRANSFERS TRANSFERS 120 82 54 % % % GROWTH GROWTH GROWTH YoY YoY YoY 33,171 2,419 18,547 12,077 1,328 15,098 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 2013 2014 2015 2016 2017 2018 Note : Net profit included non-controlling interests of the subsidiaries 4
Dividend: Increase Investment Return to Shareholders 6 YEARS DIVIDEND PER SHARE (BAHT) 400% GROWTH 0.2540 0.1275 0.1250 0.10 0.098 0.05 IPO 2018 2016 2017 2013 2014 2015 2012 5
Profitability: Investment from Joint Ventures was a Key to Grow Y2017 Y2018 % Y-o-Y M Baht % M Baht % Total revenue 12,950 100% 10,555 100% (18%) 8,932 69% 5,905 56% (34%) Revenue from sale of real estate 2,061 16% 2,080 20% 1% Project management and commission income 1,208 9% 1,674 16% 39% Construction income 749 6% 896 8% 20% Other incomes Gross profit 4,898 38% 3,605 34% (26%) 2,865 32% 1,644 28% (43%) Sale of real estate 1,324 64% 1,176 57% (11%) Project management and commission Construction 102 8% 140 8% 37% Others 606 N/A 645 N/A 6% SG&A 2,570 20% 2,912 28% 13% Selling expenses 1,112 9% 947 9% (15%) Administrative expenses 1,458 11% 1,965 19% 35% Other expenses 0 0% 173 2% N/A Share of Profit (Loss) (342) (3%) 2,341 22% N/A EBIT 1,987 15% 2,861 27% 44% Interest expenses 285 2% 368 3% 29% Net Profit (Loss) 1,328 10% 2,398 23% 82% Profit attributable to non-controlling interests 0 0% 22 0% N/A Profit attributable to equity holders of the company 1,328 10% 2,419 23% 82% 0.34 0.65 Earnings per share (baht) 6
Profitability: Investment from Joint Ventures was a Key to Grow 342 % 27,267 ALL TIME HIGH Transfers from JV GROWTH YOY 6,166 Joint Venture Project Performance 2,341 Share Profit from JV -342 37% %Gross Profit Margin 33% Unit: M Baht 22% %Net Profit Margin 17% 2018 2017 7
Productivity: Improving Efficiency for the Group Transfers & %Admin Expenses to Transfers & Other Incomes Other Incomes (MB) Decreased in 4 Years 40,000 14% 12% 35,000 12% 30,000 10% 25,000 7% 8% 20,000 6% 15,000 4% 10,000 2% 5,000 0 0% 2015 2016 2017 2018 Note : 1 including Joint Venture projects 8
Balance Sheet: Business Growth with Discipline Y2017 Y2018 % Y-o-Y M Baht M Baht Cash balance and equivalent 2,063 4,914 138% Assets 29,904 41,573 39% Interest bearing debts 12,361 18,396 49% Liabilities 16,444 23,584 43% Shareholders' equity 13,460 17,989 34% D/E ratio (times) 1.22 1.31 7% Net IBDE ratio (times) 0.77 0.75 (2%) 9
Balance Sheet: Business Growth with Discipline 2.5 Times Bond Covenants 1.5 1.1 1 0.5 0 2018 2017 2014 2015 2016 Note : Net Interest bearing debt including JV debt to equity 10
Transfer Performance 2018: Transfers were All Time High 33,171 INCREASING 93 TRANSFERS % CONDOMINIUM 15,098 7 % HOUSING 2013 2014 2015 2016 2017 2018 2018 3Q18 1Q18 2Q18 4Q18 Transfer 1,342 993 878 435 3,647 Condo Housing 511 542 597 608 2,258 1,853 1,534 1,475 1,043 5,905 Ananda F/S 1,014 2,665 4,448 4,516 12,643 Ananda Share in JV 974 2,560 5,914 5,117 14,624 Partner Share in JV 2,866 4,199 5,923 5,559 18,547 Ananda Share in Transfers 33,171 3,840 6,759 11,837 10,736 Total (M Baht) 11
Transfer Performance 2018: 10 New Condo Completed Projects were Transferred 74 10 % NEW CONDO PROJECTS OF TRANSFERS THAT COMPLETE THIS COMING FROM YEAR Transfer 1Q18 2Q18 3Q18 4Q18 Begins 12
Transfer Performance 2018: International Transfers were All Time High 6.3 Bn 300 % GROWTH YoY UNITS 94 966 19 % % GROWTH YoY INCREASING 19% INTERNATIONAL 81 % TRANSFERS 10% 2015 2016 2017 2018 13
Transfer Performance 2018: Our Customers were Cashed Up 43 100% % CASH 90% 80% FY2018 70% 24 % DOMESTIC 60% 19 % 50% INTERNATIONAL 40% 57 % 30% MORTGAGE 20% FY2018 10% 0% 2015 2016 2017 2018 14
Presales Performance 2018: International Sales were Remaining Strong 31,483 MILLION BAHT 32 ALL TIME HIGH % INTERNATIONAL SALES 10,119 MILLION BAHT 68 % 10,119 9,775 21,364 MILLION BAHT 3,111 1,256 1,730 1,235 2013 2014 2015 2016 2017 2018 15
Presales Performance 2018 31,483 MILLION BAHT 11 % HOUSING 89 % CONDOMINIUM 2018 1Q18A 2Q18 3Q18 4Q18 PRESALES CONDOMINIUM 5,848 9,793 7,038 5,193 27,872 HOUSING 834 825 1,144 807 3,611 TOTAL 31,483 6,685 10,618 8,182 6,000 (MILLION BAHT) 16
Launch Performance 2018: All 12 Projects had been Launched as Promised 26,756 MILLION BAHT 12 PROJECTS 82 % CONDOMINIUM 18 Tick tock cycles 42,450 % HOUSING 26,756 2013 2014 2015 2016 2017 2018 17
Launch Performance 2018: Almost 80% of Condo Launches were Value to Mid-end 21,854 6 CONDO PROJECTS MILLION BAHT 22 % MID TO UPPER MID-END SELLING PRICES ABOVE 150,000 BAHT/SQM 78 % VALUE TO MID-END SELLING PRICES BELOW 150,000 BAHT/SQM 4,902 6 HOUSING PROJECTS MILLION BAHT 65 % MID TO UPPER MID-END SELLING PRICES ABOVE 7 MB BAHT/UNIT 35 % VALUE TO MID-END SELLING PRICES BELOW 7 MB BAHT/UNIT 18
Launch Performance 2018: All 12 Projects had been Launched as Promised 26,756 MILLION BAHT 12 PROJECTS 5 JOINT VENTURE PROJECTS NO. LAUNCH 2018 4Q18 1Q18 3Q18 2Q18 BEGINS 4,325 6,822 5,123 5,582 21,854 Condo Housing - 401 3,684 818 4,902 TOTAL 26,756 4,325 7,223 8,807 6,400 (MILLION BAHT) 6 (5 JVs) NO. OF CONDO PROJECT 2 (1JV) 1 JV 2 JVs 1 JV 6 - 1 4 1 NO. OF HOUSING PROJECT 19
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