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1Q2016 Results
Analyst Meeting 24 May 2016
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1Q2016 at a glance
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1Q2016 Results Analyst Meeting 24 May 2016 1 1Q2016 at a glance 2 - - PowerPoint PPT Presentation
1Q2016 Results Analyst Meeting 24 May 2016 1 1Q2016 at a glance 2 - - PowerPoint PPT Presentation
1Q2016 Results Analyst Meeting 24 May 2016 1 1Q2016 at a glance 2 Key Highlights for 1Q2016 Revenue and profits Other notes Transfer and pre-sales Pre-sales Total revenue IBD / Equity Slightly higher THB 748mm THB 1,189mm 0.5x margin
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Pre-sales THB 748mm Transfer THB 1,161mm Backlog THB 6,560mm Total revenue THB 1,189mm Gross Margin 39.1% Net Income/ margin THB 237mm / 20.4% IBD / Equity 0.5x Lofts Asoke Launch 10 May 2016 Three Awards Received Transfer and pre-sales Revenue and profits Other notes
Pre-sales and transfer on target Slightly higher margin due to Zire contributing less to income
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Key Highlights for 1Q2016
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80 75 320 170 12 60 100 103 150 33 25 151 75
- 200
400 600 800 Actual Target
River 185 Northpoint Zire Unixx Lofts Ekkamai Mew Yenakat Loft Asoke
607mm 748mm
- Actual pre-sales of THB748mm exceeding target of THB607mm
- Major contributor from launch of Lofts Asoke and 185 Rajdamri (with penthouse
sold)
Steady pre-sales
1Q2016
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% Complete (3)
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Project under development
% Sold (1) % Transfer (2)
Note : (1) By value (2) As % of sold value (3) As of 31 March 2016
% Sold (1) % Transfer (2) % Sold (1) % Transfer (2) % Sold (1) % Transfer(2) % Sold (1) % Complete (3)
82% 50% 94% 99% 91% 90% 94% 67% 89% 87%
LOFTS EKKAMAI
- Completion and
transfer to start in 4Q2016 MEWS LOFTS ASOKE
- Piling starts in August 2015
- Show house to be completed
in 2Q2016
- Expect transfer in 4Q2016
- Pre-launch in October 2015
- Project was well received
- Construction complete in
4Q2018 % Sold (1) % Complete (3)
30% 20%
% Sold (1)
0% 31%
Project Update
As of 31 March 2016
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6,560 210 894 586 1,795 1,999 145 932 7,106 2,000 4,000 6,000 8,000
Mar-16 River 185 Zire Unixx Lofts Ekkamai Mews Lofts Asoke Unsold
Secured Backlog as of 31st March 2016
THB Mil.
Ending backlog
Earnings visibility of THB 14 billion
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1Q2016 Revenue (THB mm) 7 Transfer revenue mix (by project)
146 95 962 267 495 237 27
- 562
- 200
400 600 800 1,000 1,200 1,400 1,600 1,800 1Q2015 1Q2016 River 185 Zire Northpoint Unixx 9% 8% 59% 23% 30% 20% 2% 48% 0% 20% 40% 60% 80% 100% 120% 1Q2015 1Q2016 River 185 Zire Northpoint Unixx
- Transfer revenue declined from THB 1,630mm to THB 1,161mm for 1Q2015 and 1Q2016 respectively
- Reduction was attributable mainly from 185 Rajdamri as transfer at the project has reached 94% of total sales
- Zire transfer declined from THB 495mm to THB 237mm as the project transfer progress has reached 87%
- Increase of Unixx transfer does not offset that of 185 Rajdamri and Zire
Total = 1,630 Total = 1,161
Financial Highlights
Transfer Revenues / Revenue Mix
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Margin (%)
- Although contribution from 185 Rajdamri has reduced substantially, gross margin has been stabilized due to
(1) upward revision of 185 Rajdamri gross margin and (2) less contribution from Zire which has the least margin
- Net profit margin increased to 20.4% as margin of 4Q2016 not factored in yet
- EPS of 0.07 baht for 1Q2016
8 EPS (THB)
32.5 35.9 41.5 40.2 39.1 9.0 12.9 18.4 17.5 20.4
- 5.0
10.0 15.0 20.0 25.0 30.0 35.0 40.0 45.0 2012 2013 2014 2015 1Q2016 Gross Margin Net Margin 0.14 0.21 0.34 0.25 0.07
- 0.05
0.10 0.15 0.20 0.25 0.30 0.35 0.40 2012 2013 2014 2015 1Q2016
Financial Highlights
Profitability margin and EPS
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Shareholder equity vs. interest bearing debt (THB mm) Interest bearing debt to equity ratio
- Continued reduction in ratio
due to continued transfer and debt repayment along with continued profits
- Significant capacity to gear up
for acquisition and development 9
6,637 6,221 5,448 3,538 2,884 603 1,556 2,306 3,544 4,451
- 1,000
2,000 3,000 4,000 5,000 6,000 7,000 FY2011 FY2012 FY2013 FY2014 FY2015 Interest Bearing Debt Shareholder Equity 11.0x 4.0x 2.4x 1.0x 0.7x 0.0x 2.0x 4.0x 6.0x 8.0x 10.0x 12.0x FY2011 FY2012 FY2013 FY2014 FY2015 1Q2016 1Q2016 0.5x 4,689 2,417
Financial Highlights
Balance Sheet
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Three awards received
Cementing our products leadership
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The Lofts Asoke
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The Loft Asoke
Launch party on 10.05.2016
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The Loft Asoke
Launch party on 10.05.2016
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The Lofts Asoke
Testimonial of our forward-looking vision
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The Lofts Asoke
The details
Bold Interior
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The Lofts Asoke
The details
Exciting Entrance
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The Lofts Asoke
The details
Psychedelic Lobby
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The Lofts Asoke
The details
Playful Facilities
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The Lofts Asoke
The details
Playful Facilities
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The Lofts Asoke
The details
Loft Living
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The Lofts Asoke
The details
Loft Living
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The Lofts Asoke
The details
Playfully Traditional
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The Lofts Asoke
The details
Playfully Traditional
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Going Forward
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- Maintain leadership in product innovation
- Maintain leadership in luxury high end
condo market
- Diversify into new niche markets such as
Lofts and Mews
- Continue seeking to grow recurring
income
- Organization realignment to further
enhance efficiency
Going forward
Mission to complete our vision as Premier Property Company
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