THE ANNUAL GENERAL MEETING OF SHAREHOLDERS FOR THE YEAR 2020 WEDNESDAY, APRIL 22, 2020 LOBBY, 1 ST FLOOR, AAPICO HITECH PUBLIC COMPANY LIMITED
AGENDA To approve the minutes of Annual General Meeting of Shareholders for the 1. year 2019 To acknowledge the Company’s performance for the year 2019 2. To consider and approve the audited financial statements for the fiscal 3. year 2019 ended as of December 31, 2019 and the auditor’s report To acknowledge the interim dividend payment and no dividends shall be 4. paid for the performance from July to December 2019 To consider and approve the appointment of directors replacing retired 5. directors by rotation To consider and approve the remuneration of directors for the year 2020 6. To consider and approve the appointment of auditor and the auditor’s 7. remuneration for the year 2020 To consider and approve the issuance and offering for sales of debentures 8. To discuss other business matters (if any) 9. 2 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
VOTING REGULATIONS For Shareholders who attend AGM via the live broadcast, vote online cannot be counted via the live broadcast of AGM. One share equals to one vote. All votes are counted as “approved” except the voting cards that have been turned in with “no” or “abstain”. Shareholders who do not approve or abstain the agenda, please mark in the voting card and give to staff. The voting card that has been modified without certified signatory, or has been marked more than one box, will be considered as a void card. For shareholders who have assigned the proxy, their votes have been included in the system. After the announcement of the vote, the result is deemed final. 3 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
AGENDA 1 TO APPROVE THE MINUTES OF ANNUAL GENERAL MEETING OF SHAREHOLDERS FOR THE YEAR 2019 4 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
AGENDA 1 TO APPROVE THE MINUTES OF ANNUAL GENERAL MEETING OF SHAREHOLDERS FOR THE YEAR 2019 BOARD OPINION: The Minute of the Annual General Meeting of Shareholders for the year 2019, which was held on Tuesday, April 23, 2019 was correctly and accurately recorded and contained the resolution of the Annual General Meeting of Shareholders for the year 2019. The Company should present the Minute of Annual General Meeting of Shareholders for the year 2019 to the Annual General Meeting of Shareholders for approval. 5 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
AGENDA 2 TO ACKNOWLEDGE THE COMPANY’S PERFORMANCE FOR THE YEAR 2019 6 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
AGENDA 2 TO ACKNOWLEDGE THE COMPANY’S PERFORMANCE FOR THE YEAR 2019 BOARD OPINION : The Company should report its business performance for the year 2019 as presented in the 2019 Annual Report to the Annual General Meeting of Shareholders for acknowledgement. 7 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
2019 THAILAND CAR PRODUCTION DROPPED 7.1%, FROM 2.17 TO 2.01 MILLION UNITS, MOSTLY FROM LOWER EXPORT VOLUME AND SLOWER DOMESTIC DEMAND IN 2H2019 Thailand Automotive Industry Overview 2002-2020F Effect of COVID-19 Production Volume Domestic Sales Export Volume Millions may range from 10-25 percent. As of now there is no clarity. 3.0 First car campaign -7.1% 2.5 Tsunami & Flood 2.0 Global 2.17 Financial 2.01 Crisis 1.5 1.0 0.5 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source: The Federation of Thai Industry 8 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
2019 REVENUE REACHED BAHT 19.3 BILLION (+8.8%); NET PROFIT MARGIN DROPPED TO -0.9% DUE TO ONE- TIME EXPENSES Net Profit to Equity Holders Total Revenues Revenues Interest One-time gains Net Profit Net Profit Margin (%) Billions Billions 20.0 1.8 9.0% 19.3 1.6 19.0 7.3% 17.7 7.0% 7.0% 1.4 18.0 1.2 16.6 17.0 5.0% 1.0 16.0 15.1 15.0 3.6% 0.8 15.0 3.0% 0.6 2.1% 14.0 0.4 1.0% 13.0 0.2 -0.9% 12.0 - -1.0% 11.0 (0.2) (0.4) -3.0% 10.0 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 Note: 2018 Revenue and Net Profit included Bt.368 million interest income from SGAH. 2019 Revenue and Net Profit included Bt.195 million interest income from SGAH. 9 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
REVENUE INCREASED, LARGELY DRIVEN BY HIGHER SALES FROM THE AUTOMOTIVE PARTS SEGMENT AND SALE CONTRIBUTION OF AAPICO MAIA Total Revenue by Country Total Revenue by Business 2018 2019 2018 2019 9.0% Billions Billions 18.9% 13,689.6 16.0 16.0 14,256.51* 6* 13,080.00* 14.0 14.0 11,517.00* 12.0 12.0 -9.6% -8.9% 10.0 10.0 8.0 8.0 6.20 -13.6% 5.61 6.0 6.0 3.87 3.52 4.0 4.0 0.84 0.79 2.0 0.68 2.0 N/A - - Thailand Malaysia Portugal China OEM Auto Parts Car Dealers Note: * OEM Auto Parts revenue included Bt.368 million interest income in 2018 and Bt.195 million interest income and Bt.151 gain on changes in interest in investments in associate and joint venture in 2019. 10 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
NET PROFIT DECREASED MAINLY DUE TO ONE-TIME EXPENSES, WHICH WERE NON-CASH EXPENSES Net Profit to Equity holders EBIT and EBITDA Core profit Associate income Net profit (%) EBIT Depreciation EBITDA (%) Billions Billions 2.5 15% 2.5 15% 2.0 12% 11.3% 2.0 12% 1.5 9% 9.1% 7.3% 7.0% 8.1% 1.5 9% 7.6% 1.0 6% 3.6% 1.0 4.8% 6% 2.1% 0.5 3% 0.5 3% 0.0 0% -0.9% -0.5 -3% 0.0 0% 2015 2016 2017 2018 2019 2015 2016 2017 2018 2019 11 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
TOTAL ASSETS INCREASED LARGELY ATTRIBUTABLE TO THE CONSOLIDATION OF AAPICO MAIA IN Q4 2019 2019 2018 Increased equity in SGAH from 49.99% to • Increased equity in SGAH to 49.99%. • 100%. Signed JV with Vinfast to set up • Key Milestones Acquired 100% shares of AAPICO Maia, S.A. • press and assembly plant in Vietnam (Portugal), including two subsidiaries. and supply tooling for Vinfast The Company disposed the shareholding in • vehicles. JV company with Vinfast. +18.8% +21.5% Financial position as Financial position as Financial position as of December 2017 of December 2018 of December 2019 Current assets Loan to associates Investments PPE Other assets Account payable ST Loan+CPLTD LT Loan+Debenture Other liabilities Equity 12 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
MAJOR AWARDS & ACHIEVEMENTS IN 2019 Drive Award 2019 Excellence 100% Delivery Best Delivery Award “Industrial Category” Performance Award Ford Thailand MBA Chula Alumni Ford Thailand Manufacturing Manufacturing Association 13 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
MAJOR AWARDS & ACHIEVEMENTS IN 2019 Supplier Excellence Award Green Industry Level 3 Green Industry Level 3 (Quality Performance) Certificate Certificate American Axle & Manufacturing Ministry of Industry Ministry of Industry (Thailand) Co., Ltd. 14 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
MAJOR AWARDS & ACHIEVEMENTS IN 2019 Certificate of 2019 TCC Risk Management Activity Business Continuity Plan (BCP) Step 1-10 and Exercise Plan Toyota Co-operation Club 15 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
SUSTAINABILITY FOCUS IN 2019 16 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
AAPICO HAS CONFIRMED CONTINUING ORDERS GOING FORWARD Confirmed orders – 5 years for cars and 10-12 years for pick-up truck ISUZU Honda D-Max City Mu-X HRV BRV Nissan Nissan Navara Teana Almera Terra Syphy Note March TOYOTA Toyota Hilux Revo HRV Camry Fortuner Altis Vios Yaris FORD FORD Ranger Fiesta Rapter Focus Everest Eco Sport Mazda Mitsubishi Mazda 2 Triton BT-50 PRO Pajero Sport 17 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
AAPICO GLOBAL MANUFACTURING FACILITIES New York, Detroit, USA London, UK USA Rushan, China Germany Japan Kunshan, Porto, China Portugal Taiwan Coimbatore, India Thailand Malaysia Singapore AAPICO Facilities Other JV partners 18 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
AGENDA 3 TO CONSIDER AND APPROVE THE AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR 2019 ENDED AS OF DECEMBER 31, 2019 AND THE AUDITOR’S REPORT 19 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
AGENDA 3 TO CONSIDER AND APPROVE THE AUDITED FINANCIAL STATEMENTS FOR THE FISCAL YEAR 2019 BOARD OPINION: The Company should propose that the Annual General Meeting of Shareholders approve the audited financial statements for the fiscal year 2019 ended as of December 31, 2019, which were considered by the Audit Committee and audited by a certified public accountant. 20 AAPICO HITECH PUBLIC COMPANY LIMITED THE 2020 ANNUAL GENERAL MEETING OF SHAREHOLDERS
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