Opportunity Day Q3/2018 Financial Results 29 November 2018 Ticker: BCPG (SET)
Disclaimer The information contained in this presentation is provided by BCPG Public Company Limited (the "Company") to you solely for your information. Neither this presentation nor any part hereof 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 and its respective affiliates. 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 and its respective affiliates. Although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, no representations or warranties, express or implied, are made as to, and no reliance should be placed on, the accuracy, fairness or completeness of the information presented or contained in this presentation. The 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 and its subsidiaries. None of the Company nor any of its respective affiliates nor any of its or their respective members, directors, officers, employees or affiliates assumes any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein. Accordingly, none of the above nor any other person accepts any liability (in negligence, or otherwise) for any loss arising from or in connection with any use of this presentation or its contents. This presentation is for information purposes only and does not constitute or form part of any offer or invitation by or on behalf of the Company for sale or subscription of or solicitation or invitation of any offer to or recommendation to buy or subscribe for any securities of the Company, 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 (“Securities”) in Thailand, the United States or any other jurisdiction. This presentation should not be construed as legal, tax, investment or other advice. The information contained herein does not take into consideration the investment objectives, financial situation or particular needs of any particular investor, and should not be treated as giving investment advice. In addition, this presentation contains certain financial information and results of operation, and may also contain certain projections, plans, strategies, and objectives of the Company, that are not statements of historical fact which would be treated as forward looking statements that reflect the Company's current views with respect to 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 which are in many cases beyond the control of the Company, and which may change over time and may cause actual events and the Company's future results to be materially different than expected or indicated by such 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, financial condition, performance or achievements of the Company may differ materially from those anticipated by the Company in the forward looking statements. The recipient is cautioned not to place undue reliance on these forward looking statements. In providing this presentation, the Company does not undertake to provide any recipient with access to any additional information or to update the information contained in this presentation or to correct any inaccuracies herein which may become apparent. 2
Agenda Recent Development Financial Highlights Business Outlooks 3
Agenda Recent Development Financial Highlights Business Outlooks 4
Key highlights COD of 2 Co-op op (WVO) sola lar proje jects cts with tot otal l contra tract cted d capacit city of 8.94 MW EBITDA ITDA grew ew by 4.1% % YoY from m lower er admin inist istrat ative ve exp xpens ense e Thailand Lower wer irradiatio diation from m heavier vier-tha than-normal normal rainfall all is the e main facto tor pres essured red elect ectricity icity out utput ut Comple plete ted ass sset et monetiza etizatio tion, Nagi and Nikah aho, into to IFF FF on 28 Sep p 2018. Booke oked d gain from m transa nsact ction ion of THB B 794.5 5 mn mn Japan Full ll quar arte ter COD of Gotemba temba sup upporte orted d growth owth Strengt engthen hening ng THB B agains nst t JPY limite ited d sales les growth owth contrib ntribution ion from m Japan Booke oked d record ord high perf rfor orman mance ce thanks nks to favor orable able wind spe peed ed from trop opica ical The dep epres ression sions s and typhoon phoons Philippines 3Q18 8 Capacit city facto tor r of 43.5% % Stable ble opera eratio tion Recorde corded d share re of profi fit (from om ope pera ratio tion) n) of THB B 192.6 mn mn, in line e with expe pectatio ctation Indonesia Res estat tated ed of 3Q17 accordi ording ng to PPA A finaliz izatio ation. . Incurred urred amortiz rtizatio ation expe pense nse while e gain n on purc rcha hase se has been een take ken n out ut 5
Accomplished assets divestment to infrastructure fund in Japan Develop/ elop/ Capita ital 28 Sep 2018 Inves est Enhanc nce constr truct uct recyc ecyclin ing Sold to Japanese infrastructure fund with a Brownfield assets Developing assets Passing on assets to more Tax-Efficient Structure net proceeds of JPY 10,388 immediately with structured Improve cost of risk-averse investor with mn (THB 3,046 mn). generating cashflow payment to financing lower required return Gain of minimize risk Cash to be reinvested in Negotiation of THB 794.5 mn. developing project acquisition price Nikaho (Akita) Install Capacity : 8.8 MW PPA (13.2 MW DC ) Capacity factor : 10.3% (2017) Feed in Tariff : 40 JPY/kWh PPA period : 20 years COD : 15 July 2016 Nagi (Okayama) Install Capacity : 10.5 MW PPA (14.4 MW DC ) Capacity factor : 12.1% (2017) Feed in Tariff : 36 JPY/kWh PPA period : 20 years COD : 2 March 2017 6
Lomligor wind farm Construction progress is on track Constr structio tion timeli eline System integration 3 One-third of the construction Pillar & Turbine 100% 2 progress has been completed. 95% Overall progress has been on track. Foundation Target COD : 1H19 1 The next part of construction will be set anchor bolt and then a pillar set 31% up. 29% May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Target Actual 7 Remark: Lomligor wind power plant acquisition has been completed since 18 June 2018
Lomligor wind farm Construction Progress (As of 29 October 2018) Pillars and turbines are on yard WTG 4 WTG 3 WTG 1 WTG 2 Foundation construction progress 8 WTG G 1 WTG G 2 WTG G 3 WTG G 4
Our business footprint Operating 380.9 MW DC and continued growing Developing 182 MW 191 MW 30 MW Status Technology Thailand Operating Operating: 192 MW DC 361 MW 381 MW Developing: 10 MW Total: 202 MW DC Japan Operating: 17.4 MW DC Developing: 151.3 MW DC Total: 168.7 MW DC Monetized: 27.6 MW DC The Philippines Indonesia Operating: 14 MW Operating: 157.5 MW Developing: 6 MW Developing: 24 MW Total: 20 MW Total: 181.5 MW 9 Geothermal Solar Wind Remark: For the Philippines and Indonesia, only equity MW is presented
Business portfolio Power r Generat atio ion Power er Genera ratio tion 847 Unit: GWh Unit: GWh TH TH 16% JP JP 3% 42% 47% 3% PH PH ID ID TH TH ID ID 274 263 78% 231 7% 4% 130 JP JP PH PH 2013 2014 2015 2016 2017 9M 2017: 475 GWh* 9M 2018: 1,201 GWh (+152.8% YoY) Solar TH Solar JP Wind PH Geothermal ID Pro-fo forma ma Revenue e Instal alled led & Equity ity MW in Portfo tfolio lio 393 Unit: MW Unit: THB mn PH PH ID ID 18% 1% 202 TH TH 44% JP JP TH TH 169 169 ID ID 45% 13% 68% 94 8% 3% PH PH JP JP 9M 2017: THB 3,138 million* 9M 2018: THB 4,819 million (+53.6% YoY) 2013 2014 2015 2016 2017 Remark: * In 9M17, the company has effective stake in subsidiaries for 4.5 months for wind power plants in the Philippines and 2 months for geothermal power plants in Indonesia. 10 Solar TH Solar JP Wind PH Geothermal ID
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