Bring you a stronger future Bring you a stronger future Sahaviriya Steel Industries PLC Sahaviriya Steel Industries PLC Quarterly Results Presentation esults Presentation Quarterly R Period Ended 31 March 2007 31 March 2007 Period Ended May 2, 2007 May 2, 2007 1
Bring you a stronger future Bring you a stronger future Disclaimer Disclaimer Disclaimer The information contained in this presentation is intended solely for your personal reference y for your personal reference The information contained in this presentation is intended solel The information contained in this presentation is intended solely for your personal reference only. If you are not an intended recipient, you must not read, disclose, copy, circulate , retain, disclose, copy, circulate , retain, only. If you are not an intended recipient, you must not read, only. If you are not an intended recipient, you must not read, disclose, copy, circulate , retain, distribute or take any action in reliance upon this material. This presentation is not intended to distribute or take any action in reliance upon this material. T his presentation is not intended to distribute or take any action in reliance upon this material. This presentation is not intended to substitute your own analysis and investigation, and should not be considered a substitute your own analysis and investigation, and should not b e considered a substitute your own analysis and investigation, and should not be considered a recommendation to any recipient of this presentation. Some statements contained herein are ements contained herein are recommendation to any recipient of this presentation. Some stat recommendation to any recipient of this presentation. Some statements contained herein are forward- -looking statements identified by the use of forward looking statements identified by the use of forward- - looking terminology such as looking terminology such as forward forward-looking statements identified by the use of forward- looking terminology such as “may “ may” ” , , “ “will will” ” , , “ “expect expect” ” , , “ “anticipate anticipate” ”, , “ “intend intend” ” , , “ “estimate estimate” ” , , “ “continue continue” ”, , “ “plan plan” ” or other or other “may” , “will” , “expect” , “anticipate”, “intend” , “estimate” , “continue”, “plan” or other similar words, which are subject to various risks and uncertainties. These statements include similar words, which are subject to various risks and uncertaint ies. These statements include similar words, which are subject to various risks and uncertainties. These statements include statements with respect to the Company’ ’s corporate plans, strategies and beliefs and other s corporate plans, strategies and beliefs and other statements with respect to the Company statements with respect to the Company’s corporate plans, strategies and beliefs and other statements that are not historical facts. . This presentation is prepared based on the prepared based on the statements that are not historical facts. . This presentation is statements that are not historical facts. . This presentation is prepared based on the assumptions and beliefs of Sahaviriya Steel Industries Public Company Limited (the assumptions and beliefs of Sahaviriya Steel Industries Public Co mpany Limited (the assumptions and beliefs of Sahaviriya Steel Industries Public Company Limited (the “Company “ Company” ” or or “ “SSI SSI” ”) )’ ’s management in light of the information currently available to s management in light of the information currently available to the the “Company” or “SSI”)’s management in light of the information currently available to the Company involving risks and uncertainties which may cause the actual results, performance or tual results, performance or Company involving risks and uncertainties which may cause the ac Company involving risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements performance or achievements achievements to be materially different from any future results, achievements to be materially different from any future results, performance or achievements expressed or implied by such forward- expressed or implied by such forward -looking statements. Nothing in this presentation is, or looking statements. Nothing in this presentation is, or expressed or implied by such forward-looking statements. Nothing in this presentation is, or shall be relied on as promise or representation of the Company as to the future. shall be relied on as promise or representation of the Company a s to the future. shall be relied on as promise or representation of the Company as to the future. 2
AGENDA AGENDA AGENDA Bring you a stronger future Bring you a stronger future • The results of operation The results of operation • The results of operation • • Outlook Outlook • Outlook • 3
Sales Revenue Sales Revenue Sales Revenue Bring you a stronger future Bring you a stronger future Unit : million baht Unit : million baht Market Market Demand Demand recovered recovered slowdown slowdown Demand Demand Prices Prices 11,016 10,654 bottomed out bottomed out recovered recovered Prices Prices bottomed out bottomed out 7,644 7,203 6,335 1Q06 2Q06 3Q06 4Q06 1Q07 4
EBITDA & Net Profit EBITDA & Net Profit EBITDA & Net Profit Bring you a stronger future Bring you a stronger future EBITDA EBITDA Net Profit Net Profit Unit : million baht Unit : million baht Bt. 1,544 Bt. 1,544 million million reversal reversal 1,539 Bt.339 Bt.339 1,550 million million provision provision Bt.414 Bt.414 million million reversal reversal Bt.147 Bt.147 673 million million 571 reversal reversal 500 642 Bt. 625 million Bt. 625 million reversal reversal 452 111 25 46 1Q06 2Q06 3Q06 4Q06 1Q07 1Q06 2Q06 3Q06 4Q06 1Q07 5
Quarterly Sales Breakdown Quarterly Sales Breakdown Quarterly Sales Breakdown Bring you a stronger future Bring you a stronger future 1Q07 Sales breakdown by product application 1Q07 Sales breakdown by product application Premium Pipe & Spiral 6 1% Basic Others C ommercial CRC 3 9 % Auto/HA Premium Gas Cylinder 1Q07 sales by market 1Q07 sales by market 1Q07 export by country 1Q07 export by country Other Asia & Australia Domestic Vietnam 3% 74% 44% Middle-East Export 43% 26% Europe 10% 7
Inventory & Financial Leverage Inventory & Financial Leverage Inventory & Financial Leverage Bring you a stronger future Bring you a stronger future SSI Inventory Index SSI Inventory Index Inventory Inventory Unit : million baht YoY -29% QoQ -11% 24,610 100% 22,066 21,413 90% 19,763 87% 17,732 80% 72% 64% 15,710 SSI Dec05 Mar06 Jun06 Sep06 Dec06 Mar07 Dec05 Mar06 Jun06 Sep06 Dec06 Mar07 Net Debt / Equity Liabilities Liabilities Net Debt / Equity YoY -26% QoQ -7% YoY -41% 33,706 QoQ -9% 31,035 28,877 26,528 2x 24,489 1.7x 22,816 1.5x 1.2x 1.1x 1.0X Dec05 Mar06 Jun06 Sep06 Dec06 Mar07 Dec05 Mar06 Jun06 Sep06 Dec06 Mar07 8
Consolidated Profit & Loss Statement Consolidated Profit & Loss Statement Consolidated Profit & Loss Statement Bring you a stronger future Bring you a stronger future Million Baht 2005 2006 1Q06 1Q07 Sales & Service Income 36,288 35,421 6,363 7,721 Gains on exchange 52 361 170 129 Interest and Other Income 87 127 39 8 Total Revenue 36,427 35,909 6,573 7,858 Cost of Sales & Service 33,203 32,674 6,517 7,269 Inventory Provision (Reversal) 2,663 (2,245) (625) (147) SG&A 989 1,028 176 245 Doubtful A/C (Reversal) (31) (28) 0 (7) Interest Expense 985 1,663 437 366 Income Tax 60 37 9 4 Total Expenses 37,868 33,129 6,513 7,732 Minority Interest (96) (90) (13) (15) Net Profit (Loss) (1,536) 2,690 46 111 11
Consolidated Balance Sheet Consolidated Balance Sheet Consolidated Balance Sheet Bring you a stronger future Bring you a stronger future Asset (Million Baht) 31-Dec-06 31-Mar-07 Current Assets 23,332 21,819 Other Assets 21,184 21,092 Total Assets 44,516 42,911 Current Liabilities 17,080 16,349 Short-term Liabilities 2,862 5,620 Trade financing loans 9,636 6,424 Other current liablilites 4,582 4,305 Long-term Liabilities 7,409 6,467 Long-term Loans 6,316 6,148 Bonds 725 0 Other Liabilities 368 319 Total Liabilities 24,490 22,816 Share Capital 13,101 13,101 Retained Earning (Deficit) 2,985 3,096 Total Company Shareholder's Equity 19,261 19,316 Minority Interest 765 779 Total Liabilities & Equity 44,516 42,911 12
AGENDA AGENDA AGENDA Bring you a stronger future Bring you a stronger future • The results of operation The results of operation • The results of operation • • Outlook Outlook • Outlook • 13
THE END THE END THE END Bring you a stronger future Bring you a stronger future Thank you Thank you Thank you 20
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