Opportunity Day on November 22, 2018 Content Company Profile - PowerPoint PPT Presentation

Tirathai Public Company Limited Opportunity Day on November 22, 2018

Content • Company Profile • Operating Result of Q3’2018 • Outlook 2018 • Q &A 2

Company Profile 3

Tirathai & Subsidiaries Tirathai Public company Limited Manufacturer of Distribution and Power Transformers and Repair Service 100% 100% 92.50% Thaifin Co.,ltd. Tirathai E&S Co.,ltd. L.D.S. METAL WORK Co.,ltd. Distribution , installation Manufacture for Transformer’s Manufacture for Tank and maintenance service of fins and Tank support to fabricate steel , EPC Conveyor electrical power equipment Tirathai Plc.,ltd. System 20% 80% JV L.D.S - N.D.P Operation and Maintenance of Conveyor System of Hongsa Power Co. Ltd, (HPC), Laos PDR 4

Products of Tirathai Group II. I. Non-transformer Transformer • Arial Derrick Crane • Distribution • Steel Fabrication Transformer • Constructions • Power Transformer • Bulk Handling System • Transformer Service • Operation and Maintenance Conveyor Belt System • Transformer Repair 5

I. Transformer Products & Services Distribution Transformer Our Main Customers Revenue Policy by Customer 1. Utilities (PEA,MEA,EGAT) 2. Private Power Transformer 2.1 Steel industry 33% 33% 2.2 Sugar industry 2.3 Power Plant 2.4 Energy industry 33% 2.5 International Contractors Special Transformer 2.6 Others Utilites Private Export 3. Export (ASIA+SE.ASIA) 6

II. Non Transformer Products Revenue Policy • Arial Crane Device by Product Group and Digger Derick Unit • Steel Fabrication 50% 50% • Construction • EPC Conveyor Belt System Transformer Non transformer • Operating and Maintenance Service of Conveyor Belt System 7

TRT’s Key Strength • Experience management team with more than 30 years in the Transformer business • Engineering-to-Order • High Quality Products and Services • Top three of manufacturer of 300 MVA 230 kV Power Transformer in Thailand • Well recognize as a successful player in bulk handling system including a provider of Operating & Maintenance Service for power plant, mining and related industry 8

Operating Result of Q3’2018 9

Consolidated financial Statements Unit : Million Baht 2015 2016 2017 Q3'17(9M) Q3'18(9M) Total Revenue 2,264.09 2,577.33 2,448.03 1,650.00 1,752.86 Revenue from Sales & Service 2,223.97 2,536.52 2,429.77 1,635.04 1,740.48 Gross Profit 413.65 661.01 488.45 261.28 373.07 EBITDA 44.87 192.89 (17.24) (94.09) 65.08 EBIT (16.81) 125.81 (32.33) (154.21) (0.99) Net Profit/(Loss) attributable (58.28) 59.05 (71.19) (157.19) (35.61) Total Asset 3,024.84 3,303.62 3,147.29 3,048.47 3,264.28 Total Liabilities 1,947.70 2,176.83 2,112.51 2,121.63 2,265.29 Shareholders' equity 1,077.14 1,126.79 1,034.78 926.84 998.99 Financial Ratio Gross Profit Margin (%) 18.60% 26.06% 20.10% 15.98% 21.43% Net Profit/(Loss) Margin (%) -2.03% 2.38% -2.81% -9.69% -2.03% Return on Asset (%) -2.05% 1.87% -2.29% -5.16% -1.09% Return on Equity (%) -5.18% 5.36% -3.47% -16.96% -3.56% Book Value Per shares 3.50 3.66 3.36 3.01 3.24 Earnings per Share (0.15) 0.20 (0.22) (0.51) (0.12) Dividend per Share 0.05 0.13 - - - 10

Total Revenues YoY Bt. Mill 2,535 2,430 2,500 667 763 1,741 2,000 1,635 463 1,500 563 1,000 1,868 1,667 1,278 1,072 500 0 2016 2017 9M 2017 9M 2018 Transformer Non transformer 11

Total Revenues QoQ Bt.Mill 1,800 9M as of 30/9/18 Total Revenue 1,600 1,400 Increased 5% QoQ 1,200 NonTransformer 27% 1,000 795 800 614 600 Transfomer 608 200 570 534 457 73% 600 179 145 205 150 146 400 209 595 455 435 419 404 200 387 249 - Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Transformer Non-Transformer Total Revenue of 570 MBt in Q3’17 increased to 600 MBt in Q3’18. Transformer revenue of 419 MBt in Q3’17 increased to 455 MBt inQ3’18, but 12 Non-transformer revenue of 419 MBt in Q3’17 slightly decreased to 145 MBt in Q3’18.

Gross Profit Margin by Product YoY Compared to 9 Months 40% 38% 35% 30% 28% 27% 24% 25% 22% 19% 20% 17% 15% 12% 10% 5% 0% 2016 2017 9M 2017 9M 2018 Transformer Non-transformer 13

Gross Profit Margin by products, QoQ 37% 31% 30% 30% 29% 26% 24% 23% 20% 16% 15% 14% 5% 4% Q1' 17 Q2'17 Q3' 17 Q4' 17 Q1' 18 Q2'18 Q3' 18 Transformer Non-Transformer 14

Total Gross Profit (GP) VS Net Profit Margin (NPM) VS SG&A QoQ (9 months to 30.9.2018) (Consolidated) Net Profit Attributed to GP SG&A EBIT EBITDA Equity Holders Bt.Mil 500 25% 22% 400 21% 414 9M'2017 9M'2018 386 373 300 16% 261 200 100 4% 65 0 (36) (1) -0.06% (94) -2% (100) -6% (154) (157) -9% -10% 15 (200)

Interest Bearing Debt/Equity Ratio Interest Bearing Debt/Equity Ratio is in line with our business plan Bt. Mil 1.60 1.55 1.54 1.50 1.49 1.46 1.47 1.45 1.40 1.41 1.40 1.38 1.35 1.30 Q1' 17 Q2' 17 Q3' 17 Q4' 17 Q1' 18 Q2' 18 Q3' 18 Interest Bearing Debt/Equity 16

Outlook 2018 17

Structure of Incomes by Products 2016 2017 2018 9M' Q4,3M' Bt. Mil Group/ Customer (A) (A) (F) 2018(A) 2018(F) 2,500 1,867 1,917 2,000 1,667 Transformer 1,278 1,500 878 710 781 1,000 1. Gov+Local 1,306 1,195 1,374-1,434 1,053 504 463 500 2.Export 479 401 461-481 194 425 - 2016 2017 2018 (F) Q3 2018 3. Transformer Service 82 71 82-85 31 - (9M) Total Transformer 1,867 1,667 1,917-2,000 1,278 929 Transformer Non-Transformer Non-Transformer Bt. Mil 73% 73% 80% 69% 4. Steel Structure & 68% 161 357 428-439 169 106 70% Fabricate 60% 5. Distributing 209 70 150-206 45 - 50% Digger/Arial truck 31% 32% 40% 27% 6. O&M 299 336 300-330 250 80 24% 30% 20% 7. Others 41 18 - - - 10% 0% Total non-transformer 710 781 878-975 463 186 2016 2017 2018 (F) Q3 2018 (9M) 18 Total 2,577 2,448 2,795- 2,975 1,740 1,115 Transformer Non-Transformer

TRT Group Backlog As of 30.09.18 Group Customer Total Delivery in Delivery in 2018 (1) 2019 (2) Backlog (1)+(2) Transformer 1. GOV+Local 631 504 127 2. Export 653 425 228 3.Transformer - - Service Non- Transformer 28% Total transformer 1,284 929 355 Transformer 72% Non- 4. Steel Structure & 106 106 - Transformer Fabricate 5. Distributing 5 - 5 Derrick/Arial truck 6. Operating & 380 80 300 Transformer Maintenance Non-transformer Total non-transformer 491 186 305 Total 1,775 1,115 660 19

Bids and Quotations in Process As of 30 September 2018 ** Expect to receive the above orders approximately 20-25% Customer M’ Baht 1.MEA* 2,450 2.PEA 2,100 3.EGAT* 1,410 4.Local 1,900 5.Export 1,680 6. Transformer Service - 2,000 7. Distributing Derrick/Arial crane 8. Steel Structure & Fabricate 700 12,240 Total 20

21