Strictly Private & Confidential Strictly Private & Confidential Synergetic Auto Performance Public Company Limited SET Opportunity Day 8 March 2018
Disclaimer The information contained in this presentation is strictly confidential and is provided by Synergetic Auto Performance Public Company Limited ( “asap” or 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 management team or advisors. 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 management team or advisors. 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. None of the Company nor any of its management team or advisors 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 purpose 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 there to ( “Securities” ) in Thailand or any other jurisdiction. Any recipient considering a purchase of Securities is hereby reminded that any such purchase should be made solely on the basis of the information contained in a final offering document (which may be different from the information contained in this presentation) and subject to the selling restriction set out therein. 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. Strictly Private & Confidential
AGENDA Section 1 Update Performance & Recent Development Section 2 Industry Landscape Section 3 Our Business Section 4 Financial Performance Section 5 3-Year Strategic Roadmap Section A Appendix
UPDATE PERFORMANCE & RECENT DEVELOPMENT
2017 Performance Revenue: Used Car Car Rental % YoY Chg % YoY Chg Strong revenue growth from car rental (+48%) from Sales portfolio expansion to more than 10,000 cars in 2017 as well as used car sales (+41%) from higher number of end-of-contract cars and higher used car Number of cars 10,559* +41% 1,172 +20% price (cars) Gross profit: Higher gross profit in car rental (+42%) from Revenue 1,682 +48% 430 +41% increasing in revenue however gross margin (THB mn) declined by 1% from insurance premium and short- term car rental cost while gross profit from used car sales increased by 78% Gross Profit 408 +42% 43 +78% (THB mn) EBITDA: Increasing EBITDA (+47%) while EBITDA margin declined by 0.7% from higher employee related EBITDA 1,202 +47% expense and integration of CarPro and SAP B1 (THB mn) system Net profit: Net Profit 151 +116% Higher net profit (+116%) and improving net margin (THB mn) by 2% from tax benefit and reclassification of accounting standards (totaling of THB 60 mn) *Note: Number of cars excludes 574 replacement cars Strictly Private & Confidential Page 4
Continuing Growth with Improving Profitability 700 30% Total Revenue (THB mn) 573 600 552 25% 511 477 500 20% 418 Margin (%) 398 400 331 15% 291 286 282 300 255 245 10% 200 5% 100 0 0% Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Revenue (LHS) GPM Car Rental (RHS) GPM Used Car Sales (RHS) NPM (RHS) % Growth QoQ Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 Q3/17 Q4/17 Revenue 3% 4% 12% -1% 3% 14% 20% 5% 14% 7% 8% 4% Gross Profit 87% 7% (7%) 21% 10% 7% 20% 13% 10% 4% 14% (3%) Net Profit 663% 33% (22%) 47% 5% (4%) 12% (25%) 129% 0% 6% 36% Strictly Private & Confidential Page 5
Recent Development : Key Updates Car Rental Business Used Car Sales Business 10,559 574 Expanding channels through online sales Rental Cars Replacement Cars Partnered with one2car.com for used 410 130 49 cars sales in Q4 2017 Improving profitability Online sales enhances profitability up to 20% from current channels at 10% 9,970 Long-Term Short-Term Chauffer asap GO “Portfolio expansion to more than 10,000 cars in Q4 2017” • Retention rate for end-of-contract customers remains high: 2.1X portfolio expansion and 22% contract extension from expired Long-Term contracts in 2017 • CarPro system to go live in October 2017, now partnered with leading online booking application in China; “ zuzuche ” and “ Ctrip ” Short-Term • On process of connecting with global online car rental booking partner • Utilization rate above 50% in Q4 2017 Chauffer • On process of acquiring new corporate customer • Integrated operation with haupcar in Q4 2017 asap GO • Available in 35 locations across the city • Started the new segment, individual customers, in December 2017 Strictly Private & Confidential Page 6
Recent Development : Update on asap Auto Park Franchise System Prototype Project: On schedule (to be opened in April 2018) Under study- expect to roll out the system for potential franchises in the 2 nd half of 2018 75% Completion 90% Occupancy Update photos of asap Auto Park Strictly Private & Confidential Page 7
INDUSTRY LANDSCAPE
Industry Landscape “Car rental industry in Thailand is only scratching the surface of total car market” 850,000 new purchase cars in 2017 Fleet market share X 5 years average fleet tenor 240,000 cars 40% 80,000 Outstanding fleet 10% 400,000 cars cars 60% 160,000 cars 90% Corporate Fleet Car Rental Operator Fleet Market Retail Market Strictly Private & Confidential Page 9
Car Rental Operator Market Characteristics Classified into 2 main categories, short-term and long-term service provider 160,000 Top 6 players occupied more than half of the market while the rest of market cars is still fragmented High competition but not yet stabilize Car portfolio grows as customers expand Long-term rental focused Short-term rental focused 240,000 cars Corporate Fleet Car Rental Operator “asap is shifting from mono - line car rental to a fully integrated business model” 12.5% 6.8% 4,000 11,000 car in portfolio “Higher new acquisition rate indicates new acquisition future increase in market share ” of 32,000 new fleet purchased of outstanding car rental market share by car rental operator in 2017 Strictly Private & Confidential Page 10
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