Energy Absolute Public Company Limited
1 Over View 2 Our Power Business 3 Our Biodiesel Business 4 Our Financial Results 5 Our Growth 2
E@ at a Glance In 2006 to produce palm oil Established Energy (Renewable and Utilities) Core Business The Stock Exchange of Thailand since 30 Jan 2013 Secondary Market Approximately THB 151.065 billion (US$ 4.873 billion) Market Capitalization Included in the SET50 index since 1 Jul 2017 As of 28 May 2018 Included in FTSE SET Large Cap index since 18 Dec 2017 Closed price : THB/share ‘ 000 shares 80.00 1,400,000 70.00 1,200,000 60.00 1,000,000 Moved from 50.00 mai to SET 800,000 40.00 600,000 30.00 400,000 20.00 200,000 10.00 0.00 0 Total Volume Closed Price 3
Shareholder Structure Mr.Somphote Ahunai As of 20 March 2018 Chief Executive Officer Education Others Somphote 26% • MBA from University of Pittsburgh, USA Ahunai (CEO) • Bachelor of Engineering from Chulalongkorn University, Thailand 44% Previous Work Foreign • Analyst and Researcher in USA. Juristic 18% • Managing Director of a Securities Brokerage company in Thailand • Managing Director of a Renewable Energy company in Amorn Thailand Sapthaweekul Thai Juristic Domestic (CFO) 5% Fund 4% 3% Mr.Amorn Sapthaweekul Deputy to CEO and Chief Finance Officer Number of Total Shareholders = 17,888 Education Free Float = 39.87% • Master of Science from Chulalongkorn University, Thailand • Bachelor of Business Administration (Finance and Banking) from Thammasat University, Thailand Previous Work • Investment Banker and Financial Advisor, • Director in a Renewable Energy company 4
Our Business and Group Structure E@ A leader in alternative energy business, by using the modern technology and environmentally friendly Biodiesel Renewable Power Plant Energy Electrical B100 Solar EV Charging Storage Vehicle Wind Glycerin 2009 2011 2015 2016 2017 2018 Biodiesel Solar Power Wind Power Energy Storage EV Charging EV & Green Diesel & PCM 5
1 Over View 664 2 Our Power Business MW 3 Our Biodiesel Business 4 Our Financial Results 5 Our Growth 6
Project Pipeline MWh 664 F2018 404 278 188 Solar 98 98 42% Wind 8 58% 278 MWh 386 MWh + 8 MW + 90 MW + 90 MW + 90 MW Solar Nakorn- Phitsanu- Lopburi Lampang sawan lok Had Kanghan 126 MW (Songkhla and Nakornsritammarat ) Wind Hanuman + 260 (Chaiyaphum) MW 7
Electricity Price Structure Ft Baht/ Adder Base 10 years from Tariff Fuel kWh COD Adjustment Charge Solar Solar Wind Peak Time: 8 Bt. 6.5 Bt. 3.5 Bt. Weekdays 09.00 – 22.00 Nakornsawan HKH 1 = 36 MWh 4.2243 Bt./kWh -0.159 Bt./kWh 90 MWh Until Mar 2027 For May – Aug 2018 Until Dec 2023 Off-Peak Time: Lopburi Weekdays Lampang HKH 2&3 = 90 MWh 8 MWh 22.00 – 09.00 90 MWh Until Jun 2027 + Weekend + Holidays Until Oct 2.3567 Bt./kWh Until Feb 2025 2022 Hanuman Phitsanulok Projects 90 MWh 260 MWh Until Apr 2026 8
Solar Power 278 MW 3 4 Lampang (THB 8.07 bil) Phitsanulok (THB 9.5 bil) Contracted Cap: 90 MW Contracted Cap: 90 MW Installed Cap : 128.396 MW Installed Cap : 133.92 MW Technology: Tracking system Technology: Tracking system COD : 17 Feb 2015 COD : 1 Apr 2016 Land area : 2,354 Rais (930 acres) Land area : 1,800 Rais (732 acres) Adder : 6.50 baht/kwh Adder : 6.50 baht/kwh 2 1 Nakornsawan (THB 6.7 bil) Lopburi (THB 812 mil) Contracted Cap: 90 MW Contracted Cap: 8 MW Installed Cap : 126.126 MW Installed Cap : 9.33 MW Technology: Fixed system Technology: Fixed System COD : 23 Dec 2013 COD : 17 Oct 2012 Land area: 1,858 Rais (735 acres) Land area: 315 Rais (124.5 acres) Adder : 6.50 baht/kwh Adder : 8 baht/kwh 9 Note : 1 acre = 2.529 rais
Wind Power 386 MW 2 Hanuman : HNM (Chaiyaphum) THB 20 bil. Contracted Cap: 260 MW 1 Hadkanghan : HKH SCOD : Q4/2018 Adder : 3.50 baht/kwh (East Coast Southern) Status: During Construction THB 10.4 bil. Contracted Cap: 126 MW COD : HKH 1 = 36 MW COD 3 Mar 17 HKH 2 = 45 MW COD 10 Jun 17 HKH 3 = 45 MW COD 23 Jun 17 Adder : 3.50 baht/kwh Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec P90 (Base case) P50 (Best case) 10
Hanuman Wind Farm 260 MWh Located in Chaiyaphum province Current Status : During construction , Erection , Blade Installation Project Budget : THB 20 billion Project Specification : Technology from Siemens Gamesa, Spain 103 sets of Wind Turbine Generator at 2.5 MWh each Hub height 163 m. Blade length 67 m. Cut in wind speed = 3 m/sec Chaiyaphum 11
Output from power production Power Production Output (mil.) Total mil.KWh 181 Capacity 800 561 Solar Wind Total 700 600 395 618 500 2015 395 .39 - 395.39 188 MWh 400 300 2016 561.31 - 561.31 278 MWh 200 100 2017 618.19 180.91 799.10 404 MWh - 2015 2016 2017 mil.KWh Full operation of 4 Solar Power Plants and 3 Wind Power Plants with the total contract capacity of 300 82 67 76 404 MWh 20 3 200 Total power production output from Wind Power 168 147 Plants increased 1,944.38% because of running 153 163 100 141 full operation • HKH 1 ( 36 MWh) started COD on 3 Mar 2017 - Q1/2018 Q1/2017 Q2/2017 Q3/2017 Q4/2017 • HKH 2 ( 45 MWh) started COD on 10 Jun 2017 Solar Wind • HKH 3 ( 45 MWh) started COD on 23 Jun 2017 12
1 Over View 2 Our Power Business 3 Our Biodiesel Business 4 Our Financial Results 5 Our Growth 13
Biodiesel Production Location Kabinburi Industrial Estate, Prachinburi under BOI promotion & privileges Plant • Biodiesel 800,000 Liters per day • Refined Glycerin 80 Tons per day by product) Capacity Certificate Certificate Number TNI-SC-F-1201 53866/A/0001/UK/En (Head Office) ISO 9001 : 2008 53866/A/0002/UK/En (Factory) ISO 14001 : 2015 79935/A/0001/UK/En OHSAS 18001 : 2007 (Occupational 79935/B/0001/UK/En Health and Safety Management System) 14
Biodiesel Business Strong Customer Base Sales Volume of B100 (In Million liters) 200 180 160 140 120 100 80 60 40 20 0 Blending of B100 to high speed diesel 1 Jan to 7 May 2017 = 5% o 8 May 2017 onwards = 7% o 15
Oleochemicals : Green Diesel and PCM Total Investment THB 2 bil. in 2018-2019 Phase Change Material (PCM) : a substance with a high heat of fusion which, melting and solidifying at a certain temperature, is capable of storing and releasing large amounts of energy. Heat is absorbed or released when the material changes from solid to liquid and vice versa; thus, PCMs are classified as latent heat storage (LHS) units • Green Diesel or Bio Hydrogenated Diesel (BHD) : Advance product of biodiesel 16
1 Over View 2 Our Power Business 3 Our Biodiesel Business 4 Our Financial Results 5 Our Growth 17
Strong Growth in Revenue and Net Profit THB Mil. • Total revenue for Q1/2018 was 11,674 Revenue 12,000 THB 3,829 mil. including accounting 10,439 gain on a business combination 10,000 9,212 7,601 (AMITA) THB 894 mil. 8,000 6,000 • Total revenue from normal operation 2,934 2,694 4,000 for Q1/2018 was THB 2,934 mil increased 8.92% 2,000 - • Net profit for Q1/2018 was THB 1,947 mil. 2014 2015 2016 2017 Q1/2018 Q1/2017 including accounting gain THB 894 mil. THB Mil. • Net profit from normal operation for Q1/2018 was THB 1,052 mil. Net Profit 3,817 4,000 increased 6.91% 3,252 2,688 3,000 • Incremental operating revenue and 1,608 net profit resulted from full operation of 2,000 1,052 979 power business, contributed from 4 Solar 1,000 Power Plants (278 MW) and 3 Wind Power - Plants (126 MW) 2014 2015 2016 2017 Q1/2018 Q1/2017 18
Growth from Power Business THB mil. 94 Power Business : contribution 67% 12,000 58 Total capacity was 404 MW comprised of 278 16 MW of solar and 126 MW of wind 10,000 Total units sold of electricity produced from 174 7,093 solar power plants decreased 6.29% resulted 8,000 5,491 Total 3,956 from lower of solar radiation. But average Total 2,187 2,934 6,000 2,694 selling price increased 1.45% Total units sold of electricity produced from 5 4,000 48 wind power plants increased 1,944.38% 5,222 5,225 4,902 4,486 1,907 1,590 resulted from full operation and strong wind 2,000 speed. But average selling price decreased 1,053 974 - 2.06% 2014 2015 2016 2017 Q1/2018 Q1/2017 Biodiesel+Glycerin Power Others High Speed Diesel LPG Biodiesel Business : contribution 33% Total sale volume of B100 increased 30.25%. But average selling price decreased 32.64% resulted from decrease of raw material price and high competition Revenue from Glycerin increased 94.07% due to increase of both sale volume by 27.91% and selling price by 51.78% resulted from stronger demand in global market Extra item : Accounting gain on a business combination (AMITA) THB 894 mil. Is excluded from the chart. 19
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