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 due to Zire contributing less to income Pre-sales and transfer on target Transfer Gross Margin Lofts Asoke Launch THB 1,161mm 39.1% 10 May 2016 Backlog Net Income/ margin Three Awards THB 6,560mm THB 237mm / 20.4% Received 3
Steady pre-sales 1Q2016 Actual pre-sales of THB748mm exceeding target of THB607mm Major contributor from launch of Lofts Asoke and 185 Rajdamri (with penthouse sold) 12 Target 75 170 100 150 25 75 607mm Actual 80 320 60 103 33 151 748mm - 200 400 600 800 River 185 Northpoint Zire 4 Unixx Lofts Ekkamai Mew Yenakat Loft Asoke
Project Update As of 31 March 2016 91% % Sold (1) Project under development % Transfer (2) 99% LOFTS EKKAMAI 90% Completion and % Sold (1) transfer to start in % Transfer (2) 4Q2016 94% 94% % Sold (1) MEWS Piling starts in August 2015 % Transfer (2) Show house to be completed 87% in 2Q2016 67% Expect transfer in 4Q2016 % Sold (1) % Transfer (2) LOFTS ASOKE 50% Pre-launch in October 2015 89% % Sold (1) Project was well received Construction complete in % Complete (3) 82% 4Q2018 20% % Sold (1) % Complete (3) 30% 31% % Sold (1) % Complete (3) 0% Note : (1) By value (2) As % of sold value (3) As of 31 March 2016 5
Ending backlog Earnings visibility of THB 14 billion Secured Backlog as of 31 st March 2016 THB Mil. 8,000 210 894 6,000 586 1,795 4,000 1,999 2,000 145 932 6,560 7,106 0 Mar-16 River 185 Zire Unixx Lofts Mews Lofts Asoke Unsold Ekkamai 6
Financial Highlights Transfer Revenues / Revenue Mix 1Q2016 Revenue (THB mm) Transfer revenue mix (by project) Total = 1,630 1,800 120% - 27 1,600 100% 2% 1,400 495 Total = 1,161 30% 1,200 80% 48% 1,000 562 60% 800 962 600 20% 40% 59% 237 400 20% 23% 267 200 146 95 9% 8% - 0% 1Q2015 1Q2016 1Q2015 1Q2016 River 185 Zire Northpoint Unixx 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 7
Financial Highlights Profitability margin and EPS Margin (%) EPS (THB) 41.5 45.0 0.40 40.2 39.1 0.34 40.0 35.9 0.35 32.5 35.0 0.30 0.25 30.0 0.25 0.21 25.0 0.20 20.0 0.14 0.15 20.4 15.0 18.4 17.5 0.10 0.07 10.0 12.9 5.0 0.05 9.0 - - 2012 2013 2014 2015 1Q2016 2012 2013 2014 2015 1Q2016 Gross Margin Net 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
Financial Highlights Balance Sheet Shareholder equity vs. interest bearing debt (THB mm) Interest bearing debt to equity ratio 6,637 7,000 12.0x 6,221 Continued reduction in ratio 11.0x due to continued transfer and 5,448 debt repayment along with 6,000 10.0x continued profits Significant capacity to gear up 4,689 4,451 for acquisition and development 5,000 8.0x 2,417 3,544 3,538 4,000 2,884 6.0x 2,306 3,000 4.0x 1,556 4.0x 2,000 2.4x 603 2.0x 1,000 1.0x 0.7x 0.5x - 0.0x FY2011 FY2012 FY2013 FY2014 FY2015 1Q2016 1Q2016 FY2011 FY2012 FY2013 FY2014 FY2015 Interest Bearing Debt Shareholder Equity 9
Three awards received Cementing our products leadership 10
The Lofts Asoke 11
The Loft Asoke Launch party on 10.05.2016 12
The Loft Asoke Launch party on 10.05.2016 13
The Lofts Asoke Testimonial of our forward-looking vision 14
The Lofts Asoke Bold Interior The details 15
The Lofts Asoke The details Exciting Entrance 16
The Lofts Asoke The details Psychedelic Lobby 17
The Lofts Asoke The details Playful Facilities 18
The Lofts Asoke The details Playful Facilities 19
The Lofts Asoke Loft Living The details 20
The Lofts Asoke The details Loft Living 21
The Lofts Asoke The details Playfully Traditional 22
The Lofts Asoke The details Playfully Traditional 23
Going Forward 24
Going forward Mission to complete our vision as Premier Property Company 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 25
Thank you! Investor Relationships Wit Suthirachartkul wit@raimonland.com 26
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