Tirathai Public Company Limited Opportunity Day on August 30, 2018 - PowerPoint PPT Presentation

Tirathai Public Company Limited Opportunity Day on August 30, 2018

Content • Company Profile • Operating Result of Q2 ’ 2018 • Outlook 2018 • Q &A 2

Company Profile 3

Tirathai & Subsidiaries Tirathai Public company Limited Manufacturer of Distribution and Power Transformers and Repair Service 100% 100% 92.50% Thaifin Co.,ltd. Tirathai E&S Co.,ltd. L.D.S. METAL WORK Co.,ltd. Distribution , installation Manufacture for Transformer’s Manufacture for Tank and maintenance service of fins and Tank support to fabricate steel , EPC Conveyor electrical power equipment Tirathai Plc.,ltd. System 20% 80% JV L.D.S - N.D.P Operation and Maintenance of Conveyor System of Hongsa Power Co. Ltd, (HPC), Laos PDR 4

Products of Tirathai Group II. I. Non-transformer Transformer • Arial Derrick Crane • Distribution • Steel Fabrication Transformer • Constructions • Power Transformer • Bulk Handling System • Transformer Service • Operation and Maintenance Conveyor Belt System • Transformer Repair 5

I. Transformer Product & Service Distribution Transformer Our Main Customers Revenue Policy by Customer 1. Utilities (PEA,MEA,EGAT) 2. Private [VAL Power Transformer [VAL 2.1 Steel industry UE] UE] 2.2 Sugar industry 2.3 Power Plant 2.4 Energy industry 33% 2.5 International Contractors Special Transformer 2.6 Others Utilites Private Export 3. Export (ASIA+SE.ASIA) 6

II. Non Transformer Products Revenue Policy • Arial Crane Device by Product Group and Digger Derick Unit • Steel Fabrication 50% 50% • Construction • EPC Conveyor Belt System Transformer Non transformer • Operating and Maintenance Service of Conveyor Belt System 7

TRT’s Key Strength • Experience management team with more than 30 years in the Transformer business • Engineering-to-Order • High Quality Products and Services • Top three of manufacturer of 300 MVA 230 kV Power Transformer in Thailand • Well recognize as a successful player in bulk handling system including a provider of Operating & Maintenance Service for power plant, mining and related industry 8

Operating Result of Q2 ’ 2018 9

Consolidated financial Statements Unit : Million Baht 2015 2016 2017 Q1'2018(3M) Q2'2018(6M) Total Revenue 2,264.09 2,577.33 2,448.03 542.66 1,153.99 Revenue from Sales & 2,223.97 2,536.52 2,429.77 533.37 1,147.06 Gross Profit 413.65 661.01 488.45 133.06 258.56 EBITDA 44.87 192.89 (17.24) 38.88 69.76 EBIT (16.81) 125.81 (32.33) 17.36 26.12 Net Profit/(Loss) attributable (45.97) 61.22 (68.70) 2.74 (2.31) to equity holders Total Asset 3,024.84 3,303.62 3,147.29 3,072.89 3,193.15 Total Liabilities 1,351.86 1,608.65 1,416.36 2,033.46 2,159.59 Shareholders' equity 1,077.14 1,126.79 1,034.78 1,039.52 1,033.56 Financial Ratio Gross Profit Margin (%) 18.60% 26.06% 20.10% 24.95% 22.54% Net Profit/(Loss) Margin (%) -2.03% 2.38% -2.81% 0.50% -0.20% Return on Asset (%) -2.05% 1.87% -2.29% - - Return on Equity (%) -5.18% 5.36% -3.47% - - Book Value Per shares 3.50 3.66 3.36 3.37 3.36 Earnings per Share (0.15) 0.20 (0.22) 0.10 (0.01) Dividend per Share 0.05 0.13 - - - 10

Total Revenues QoQ Bt.Mill 1,800 6M as of 30/6/18 Increased 34% QoQ Total Revenue 1,600 1,400 [CATE 1,200 GORY NAM [CATE 1,000 E] GORY 795 [PE … 800 614 NAM 608 200 570 [VALUE] E] 534 600 [PE … 179 205 150 146 400 209 595 435 419 404 200 387 249 - Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Transformer Non-Transformer Total Revenue of 457 in Q2 ’ 17 increased to 614 MBt in Q2 ’ 18. Transformer revenue of 249 MBt in Q2 ’ 17 increased to 435 MBt inQ’ 18, but 11 Non-transformer revenue of 209 MBt in Q2 ’ 17 decreased to 179 MBt in Q2 ’ 18.

Total Revenues YoY Bt. Mill 2,535 2,430 2,500 667 763 2,000 1,500 1,147 1,065 1,000 325 1,868 413 1,667 500 822 652 0 2016 2017 1st Half 2017 1st Half 2018 Transformer Non transformer 12

Gross Profit Margin by products, QoQ 37% 31% 30% 29% 26% 24% 23% 20% 15% 14% 5% 4% Q1' 17 Q2'17 Q3' 17 Q4' 17 Q1' 18 Q2'18 Transformer Non transformer 13

Gross Profit Margin by Product YoY Compared to Half Year 40% 38% 35% 31% 30% 27% 27% 25% 22% 22% 20% 17% 15% 10% 10% 5% 0% 2016 2017 1H'2017 1H'2018 Transformer Non-transformer 14

Total Gross Profit (GP) VS Net Profit Margin (NPM) VS SG&A QoQ (6 months to 30.6.2018) (Consolidated) NP attributed to Bt.Mil GP SG&A EBIT EBITDA Equity Holders 300 25% 23% 21% 250 263 259 238 18% 200 150 187 100 6% 2% 50 70 26 0 (38) (2) (75) (50) -4% (84) -0.2% -7% (100) -8% (150) 1H 2017 1H 2018 15

Interest Bearing Debt/Equity Ratio Interest Bearing Debt/Equity Ratio is in line with our business plan Bt. Mil 1.60 1.55 1.54 1.50 1.49 1.46 1.45 1.41 1.40 1.40 1.38 1.35 1.30 Q1' 17 Q2' 17 Q3' 17 Q4' 17 Q1' 18 Q2' 18 Interest Bearing Debt/Equity 16

Outlook 2018 17

Structure of Incomes by Group Customer 1 st Half 2016 2017 2018 ( A ) ( A ) ( F ) 2018 Transformer 1. Gov+Local 1,306 1,195 706 Bt. Mil 1,374- 1,434 2,500 1,867 1,917 2,000 1,667 2.Export 479 401 461-481 95 1,500 822 878 710 781 1,000 3. Transformer 82 71 82-85 21 332 Service 500 - Total Transformer 1,867 1,667 1,917- 822 2016 2017 2018 (F) Q2 2018 2,000 (6M) Non- 4. Steel Structure & 161 357 428-439 114 Transformer Non-Transformer Transformer Fabricate Bt. Mil 73% 80% 71% 69% 5. Distributing 209 70 150-206 37 68% Digger/Arial truck 70% 60% 50% 6. Operating & 299 336 300-330 174 40% 32% 31% 29% Maintenance 27% 30% 20% 7. Others 41 18 - 7 10% Total non- 710 781 878-975 332 0% transformer 2016 2017 2018 (F) Q2 2018 (6M) Total 2,577 2,448 2,795- 1154 18 Transformer Non-Transformer 2,975

TRT Group Backlog As of 30.06.2018 Group Customer Total Delivery in Delivery in 2018 (1) 2019 (2) Backlog (1)+(2) Transformer 1. GOV+Local 853 762 90 2. Export 617 470 148 Non- Transfor mer 3.Transformer - - [VALUE] Service Total transformer 1,470 1,232 238 Transfor Non- 4. Steel Structure & 123 123 - mer Transformer Fabricate [VALUE] 5. Distributing - - - Derrick/Arial truck 6. Operating & 456 156 300 Transformer Maintenance Non-transformer Total non-transformer 579 279 300 Total 2,049 1,511 538 19

Bids and Quotations in Process As of 30 June 2018 ** Expect to receive the above orders approximately 20-25% Customer M’ Baht 1.MEA* 2,600 2.PEA 1,700 3.EGAT* 1,620 4.Local 1,750 5.Export 1,525 6. Transformer Service - 7. Distributing Derrick/Arial crane 2,155 8. Steel Structure & Fabricate 700 12,050 Total 20

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