PRUKSA HOLDING PCL Opportunity Day 2Q17 25 AUGUST 2017 CORPORATE - PowerPoint PPT Presentation

PRUKSA HOLDING PCL Opportunity Day 2Q17 25 AUGUST 2017

CORPORATE STRUCTURE Pruksa sa Holdi lding g Publi lic Company Limite ted Board of Directors Chief Executive Officer (PSH CEO) Executive Committee Operation Committee People Development Finance & Investment Committee Pruksa sa Real l Estate te - Vimutti tti Hospital tal Pruksa Real l Estate te Premium 2

KEY HIGHLIGHTS  The BMR presale increased 15.9% yoy in 1H17  1H17 presale grew 20.9% yoy from new condo launches and strong take-up rate of the Tree Sukhumvit 71 (86.2%), The Reserve Thonglor (100%) and Chapter One Shine Bangpo (92.8%)  1H17 revenue declined by 14.0% yoy due mainly to lower condo revenue transferred  Net profit of Bt2,425m, down 21.1% yoy due to lower revenue and higher SG&A expenses 3

1H17 BANGKOK METROPOLITAN REGION (BMR) PRESALE VALUE (Bt m) The BMR presale increased at 15.9% % yoy in 1H17 yoy +7% yoy +2.2% 389,400 11,100 354,799 OTHER 362,456 yoy 10,721 +15.9% 10,232 CONDO 210,000 183,500 182,680 198,562 171,206 3,920 5,430 106,954 79,263 SDH 92,000 101,518 90,208 49,449 52,005 76,300 TH TH 71,679 66,717 38,239 34,508 1H16 1H17 2015 2016 2017 ( (F) Remark rk: BMR inclu luding 6 provinces es (Bangkok, Nontaburi, ri, Pathumthani, Samutrp rpra rakarn, Samutsakorn, Nakorn rnpathom (Some e part rts) and Samutsongkra ram (Some parts) Sourc rce: e: Mark rketi eting Insight , Stra rateg egy and New Busines ess Devel elopmen ent at Pruksa Real l Estate e Pcl. 4

1H17 PERFORMANCE RESULT (Bt m) (1) Presale Revenue Performance yoy yoy 1H17 1H16 1H17 1H16 TH TH 11,412 12,014 -5.0% 10,634 11,463 -7.2% SDH (Value) 4,106 4,762 -13.8% 4,270 4,805 -11.1% Condo (Value) 5,945 3,784 57.1% 4,197 6,462 -35.0% Premium 4,687 1,018 360.4% 1,438 1,073 34.0% Inter -1 -1 57 57 -101.2% 13 13 85 85 -84.5% Total 26,150 21,635 20.9% 20,554 23,888 -14.0% Performance 1H17 1H16 yoy 1H17 revenue decline of 14.0% % yoy and (2) (3) generated a net profit of Bt2,4 ,425m Net Profit 2,425 3,073 -21.1% Remark : (1) Revenues from real estate sales only (2) 1H17 net profit of Bt2,478m less minority interests of Bt53m. (3) 1H16 net profit of Bt3,139m less minority interests of Bt66m. 5

1H17 PRESALE AND TARGET (Bt m) Presale of Bt26,150m in 1H17, 49.4% of 2017 target 49.4% of yoy 20.9% target yoy Targe get 8.6% 52,900 00 PREMIUM 7.9% 4,200 23.0% CONDO 12,150 qoq -3.4% 26,150 13,800 26.1% SDH 21,635 4,687 1,018 12,846 57 11,826 13,303 3,784 5,945 4,762 506 4,106 2,129 2,559 18 43.0% 22,750 TH TH 0 2,371 2,560 3,384 2,244 1,892 2,214 12,014 11,412 6,688 6,266 5,146 -1 2Q16 1Q17 2Q17 1H16 1H17 2017 ( (F) 6

PROJECT HIGHLIGHT For 1H17, PS launched 3 highlight condo projects with combined value of Bt6,000m The Reserve e Thonglo lor The Reserv rve e Thonglo lor r Launch : March 2017 (Sold out) Project Value : Bt1,800m The Tree ee Sukhumvi vit 71 Chapter er One Shine Bangpo The Tree Sukhumvi mvit t 71 Chapter er One Shine ne Bangpo Launch : March 2017 (83%) Launch : May 2017 (93%) Project Value : Bt2,500m Project Value : Bt1,700m 7

1H17 REVENUE AND TARGET (Bt m) Revenue of Bt20,554m in 1H17, 40.9% of 2017 target yoy yoy 40.9% of -8.3% -14.0% target Targ rget et 50,200 3.6% PREMI MIUM UM 1,800 - 21.0% 10,520 CONDO qoq 54.6% 30.0% 15,080 SDH 23,888 20,554 1,073 85 1,438 13,605 6,462 13 12,481 81 4,197 8,072 685 4,805 1,438 4,270 31 45.4% 22,800 TH TH 3,604 6 2,979 7 2,532 - 1,218 2,204 10,634 2,067 11,463 6,754 5,854 4,780 2Q16 1Q17 2Q17 1H16 1H17 2017 ( (F) 8

BACKLOG AT THE END 1H17 (Bt m) Backlog at the end of 1H17 is Bt29,028m, increased 1.3% from the end of 1Q17 Bt29,028m 3,460 Bt8,117m 2019 2019 4,657 1,888 2018 2018 Bt8,80 801m 1m 6,913 Premium 396 396 Bt396 / 3% TH TH Bt3,896m / 32% 2017 2017 2017 2017 Bt12,110m 11,714 CD (Valu lue) e) Back cklo log Bt5,043m / 42% Bt12,110m SDH Bt2,775m / 23% Premium Busines ess End of 1H17 Value e Business ess 9

PROJECT LAUNCH AS OF 1H17 72 projects with value of Bt68.1bn will be launched in 2017 Plan Bt68.1bn Premium Busi siness ss 72 project ects PREMIUM 3 projec ects 1 projec ect 1 p projec ect 6 1 p projec ect Bt4.6n Bt1.7bn Bt1.7bn Bt1.8bn 7 CONDO 3 1 1 1 1Q1 Q17 ( (A) 2Q1 Q17 ( (A) 3Q1 Q17 ( (F) 4Q1 Q17 ( (F) 17 17 SDH Value Business 16 project ects 11 project ects 20 project ects 19 project ects Bt10.3bn Bt18.3bn Bt15.2bn Bt14.5n 42 42 TH TH 2 2 3 2 8 4 1 2 15 15 10 10 9 8 2017 ( (F) 1Q17 ( (A) 2Q17 ( (A) 3Q1 3Q17 7 (F) 4Q17 ( (F) 10

ACTIVE PROJECTS AS OF 1H17 (Bt m) There are a total of 183 183 active projects that have an unsold value of Bt94,901m No. of Total project Value Revenue Backlog Sold Unsold Units (Bt m) Units (Bt m) Units (Bt m) Units (Bt m) Units (Bt m) projects Grand Total 183 183 71,984 191,062 25,734 67,446 10,645 29,028 36,312 96,161 35,672 94,901 Baan Pruksa 34 13,279 25,755 3,968 7,642 453 961 4,421 8,603 8,858 17,152 Patio 1,393 5,933 384 1,551 26 134 410 1,685 983 4,248 6 Pruksa Lite 267 556 139 276 10 24 149 300 118 256 1 Pruksa Town 3,836 10,889 1,655 4,199 129 438 1,784 4,637 2,052 6,252 13 Pruksa Village 375 917 157 367 14 37 171 404 204 513 3 Pruksa Ville 39 11,595 29,587 4,121 9,871 629 1,826 4,750 11,697 6,845 17,891 The Connect 3,633 11,087 1,505 4,409 76 243 1,581 4,652 2,052 6,435 13 The Plant 763 2,949 514 1,912 20 100 534 2,012 229 937 2 Villette 681 1,786 365 948 3 7 368 955 313 830 2 Passorn 18 83 12 54 6 29 18 83 0 0 1 Total TH 114 114 35,840 89,542 12,820 31,230 1,366 3,799 14,186 35,029 21,654 54,513 Passorn 12 3,176 14,123 1,480 5,962 151 799 1,631 6,761 1,545 7,362 Pruksa Puri 189 802 173 719 1 5 174 723 15 78 1 Pruksa Village 2,556 9,885 1,137 4,255 80 347 1,217 4,602 1,339 5,283 10 The Palm (Value) 299 3,657 184 2,350 8 119 192 2,469 107 1,187 2 The Plant 3,390 15,427 1,328 6,365 263 1,351 1,591 7,716 1,799 7,711 15 Pruksa Town 3 568 2,669 204 953 17 84 221 1,037 347 1,632 Pruksa Nara 1 300 1,031 158 566 1 4 159 569 141 462 Total SDH 44 44 10,478 47,594 4,664 21,170 521 521 2,709 5,185 23,879 5,293 23,716 Fuse 815 1,735 527 974 19 37 546 1,010 269 724 1 Plum Condo 16,012 23,698 4,578 4,916 5,217 10,221 9,795 15,136 6,217 8,561 10 Privacy 452 810 411 716 14 29 425 745 27 65 2 The Tree 4,662 13,215 2,101 5,288 1,834 5,341 3,935 10,629 727 2,586 6 Urbano 2 578 3,391 227 1,714 177 836 404 2,551 174 840 Total CD (Value) 21 21 22,519 42,848 7,844 13,608 7,261 16,463 15,105 30,071 7,414 12,777 Chapter One 3,037 9,250 406 1,438 1,320 3,916 1,726 5,354 1,311 3,896 3 The Reserve 110 1,828 0 0 110 1,828 110 1,828 - 0 1 Total Premium 4 3,147 11,078 406 1,438 1,430 5,744 1,836 7,182 1,311 3,896 Almost Closed 67 67 313 313 11

GROSS PROFIT AND GROSS MARGIN Quarterly YTD 10,000 40.0% 10,000 40% 35.7% 36.1% 35.4% 33.7% 34.3% 32.3% 9,000 9,000 35% 35.0% 31.8% 8,000 8,000 30% 30.0% 7,000 7,000 7,704 25% 7,275 25.0% 6,000 6,000 4,981 5,000 20% 5,000 20.0% 4,509 4,325 4,000 4,000 15% 15.0% 3,057 2,766 3,000 3,000 10% 10.0% 2,000 2,000 5% 5.0% 1,000 1,000 0 0% 0 0.0% 2Q1 Q16 3Q1 Q16 4Q1 Q16 1Q1 Q17 2Q1 Q17 1H16 1H17 Gross Profits (Bt m) Gross Margin (%) Gross profit (Bt m) Gross margin (%) 12

NET PROFIT AND NET MARGIN Quarterly YTD 5,000 16.0% 5,000 16% 14.0% 14.0% 4,500 4,500 13.5% 14.0% 14% 12.9% 4,000 4,000 11.8% 12.0% 12% 10.0% 3,500 3,500 3,073 8.4% 10.0% 10% 3,000 3,000 2,425 2,500 8.0% 2,500 8% (1) 1,958 1,833 (3) 2,000 1,744 2,000 6.0% 6% 1,500 1,500 4.0% 4% 909 1,000 1,000 (2) 681 2.0% 2% 500 500 0 0.0% 0 0% 1H16 1H17 2Q16 3Q16 4Q16 1Q17 2Q17 Net profit (Bt m) Net margin (%) Net Profits (Bt m) Net Margin (%) Remark : (1) Pruksa Real Estate PCL reported a net profit of Bt2,040.m with a net profit margin of 14.6% (2) Pruksa Real Estate PCL reported a net profit of Bt704m with a net profit margin of 8.7% (3) Pruksa Real Estate PCL reported a net profit of Bt1,805m with a net profit margin of 14.5% 13

LIABILITY RATIOS IBD ratio is well-managed to be within our internal target at 1.25x 70,24 247 7 68, 8,689 89 1.30 70,000 66,34 344 4 65,509 509 64,53 538 8 60,000 1.10 0.92 2 0.92 50,000 0.88 88 0.87 87 0.85 85 0.90 40,000 36,132 132 36,11 114 4 35,41 413 3 34,55 557 7 0.66 6 34,16 164 4 0.70 0.61 0.58 30,000 0.56 0.52 23,700 0.50 21,00 000 0 20,758 758 19,89 898 8 20,000 18, 8,000 00 0.30 10,000 0 0.10 2Q16 3Q16 4Q16 1Q17 2Q17 Asset ets Inter eres est B Bea eari ring D Debt ebt (IBD) Eq Equity Liabili lities/ es/Eq Equities es IBD/E /E 14

Q & A