2018 Results February 2019 Our business portfolio Increased - - PowerPoint PPT Presentation

2018 Results

February 2019

Our business portfolio

2 Year 1996 1999 2001 2002 2005 2009 2010 2012 2013 2014 2015 2016 2017 2018

• No. of vessels (units)

2 4 4 5 4 3 4 6 5 5 6 7 10 11 Total deadweight (DWT) 3,814 10,245 13,861 16,791 14,266 11,440 16,203 23,781 18,876 18,876 23,699 33,641 82,981 96,202

• No. of trucks (units)

5 43 100 150 150 Loading quantity (ml) 0.23 1.94 4.50 6.75 6.75

• No. of tankers & tanker trucks

20.8% 27.2% 26.8% 27.4% 99.3% 79.2% 72.8% 73.2% 72.6%

500 1,000 1,500 2,000 2014 2015 2016 2017 2018 AMAL AMA

MB

Service Incomes

1998 1999 2001 2002 2003 2005 2018 2016

• Established AMA

with registered capital of 1MB

• Registered capital

increased to 12 MB

• Registered

capital increased to 60 MB

• Started International

marine transportation (“Myanmar route”)

• Registered capital

increased to 100 MB

• Expanded

service route to “Vietnam”

• Expanded service

route to “the Philippines”

• Registered capital

increased to 110 MB

• Overall revenues

came from International transportation 2014

• Established

AMAL with registered capital of 5 MB

• Increased

registered capital to 259 MB to support stock dividend payment

• Transformed to Public

Company Limited and listed in MAI on 22 December

• Registered capital

increased to 216 MB

• AMAL’s registered capital

increased to 190 MB

Palm oil industry

Source: The Oil Palm, a project of the Malaysian Palm Oil Council (MPOC) Remark: red color represents the countries the produce palm

Global source of production and exporter of palm

Palm oil production growth has been highest in Indonesia and Malaysia, and the spike is expected to continue.

Indonesia Malaysia Thailand Columbia Nigeria

million MT

2012 2013 2014 2015 2016 2017 2018

Major palm oil production countries

3

Source: www.indexmundi.com

• 10

20 30 40 50

2012 2013 2014 2015 2016 2017 2018

Palm oil importers

India Europe China Pakistan Bangladesh Others

million MT

• 10

20 30 40 50

2012 2013 2014 2015 2016 2017 2018

Palm oil exporters

Indonesia Malaysia Guatemala Colombia Papua New Guinea Others

million MT

A leader of palm oil transportation

The service provider of vegetable oil transportation in SEA

“An International Company Exporting Consumption Oils and Other Oils” “The Joint Venture Companies between Kuala Lumpur Kepong Berhad, registered company in The Stock Exchange of Malaysia and PT Astra Agro Lestari, registered company in The Stock Exchange of Indonesia” “The Leading Agriculture Business in Asia. The World Biggest Manufacturer and Distributor Palm Oil”

Agri Oils Pte Ltd 4

Service provider

• No. of

Vessels DWT Market share in SEA (%) AMA Marine PLC 9 70,438 14.28% Raffles, Singapore 5 52,843 10.71% Thai Ship owner 3 7,820 1.59% Megaports, Singapore 1 6,790 1.38% Thai Ship owner 1 6,275 1.27% Tien Thanh, Vietnam 2 5,761 1.17% Samuraya Layer Sentosa - Medan, Indonesia 1 4,718 0.96% Thai Ship owner 1 2,998 0.61% Others 33 335,681 68.04% Total 56 493,324 100.0% No Vessels DWT Year built Year purchased 1 Chao Anoma 4,763 1995 2010 2 Primrose 4,908 1992 2012 3 AMA 3,110 1994 2012 4 Bergprai 3,165 1993 2012 5 Meson 4,823 2003 2015 6 Meya 9,942 2007 2016 7 Ulaya 13,020 2009 2016 8 Alinya 12,999 2009 2017 9 Anika 13,250 2008 2017 10 Salina 13,001 2008 2017 11 Alisha 13,221 2008 2018 Total deadweight 96,202

Our fleet

Palm oil, 97% Other vegetable oil e.g. soy bean

• il, coconut
• il, 3%

Our product delivery

5

38% 23% 6% 33%

Our market shares

• AMA provides the medium tankers which are

suitable for SEA due to the shallow watercourse.

• AMA provides the service in the areas where

they are the center of production and consumption of the world.

• In 2018, 6.73% of total palm oil import

volume to Southeast Asia, China, East Coast India and Bangladesh were delivered by AMA Marine.

Bangladesh China East Coast India Southeast Asia

300 600 900 2013 2014 2015 2016 2017 2018 Non-Public Trucks Personal Trucks

• No. of truck registered in Thailand

Rising vehicles, rising fuel consumption

• 10

20 30 40 2013 2014 2015 2016 2017 2018 Gasoline Diesel

Domestic fuel consumption

6

• 2.000

4.000 6.000 2013 2014 2015 2016 2017 2018

Average daily B100 production

Source: DOEB Source: DLT Source: DOEB

• The Ministry of Energy has increased the content of palm oil in

biodiesel from the average of 6.6% to 6.8%, effective from 1 November 2018. Then, the blended proportion will increase to 6.9% in next two months. This will absorb 80,000 tons of the crude palm oil per year. According to European standards (EN 590), vehicle manufacturers agreed to add B100, but not

• ver 7.0%.

Thailand transportation

7

• GDP from Transport in Thailand increased to

279,708 THB million in the 2nd quarter of 2018,

reaching an all time high ever.

Logistics business 2017 2018

Value (MB) Growth (%) Value (MB) Growth (%)

Land 137,700 6.2 145,100 – 147,300 5.3 – 7.0 Warehouse 71,700 6.2 75,500 – 76,700 5.3 – 7.0 Freight forwarder 57,700 1.6 58,000 – 58,900 0.5 – 2.1 Post 28,100 8.7 30,800 – 31,300 9.6 – 11.3

6%

4% 2% 0%

• 2%

2014 2018 2016

Remark: Thailand GDP annual growth rate Source: Trandingeconomics.com Remark: Logistics value calculated from National Income of Thailand Source: Kasikorn Research Center

Gasoline & Gas Oil, 90% Bio-diessel (B100), 10% Gasoline & Gas Oil Bio-diessel (B100)

Product delivery

5 43 100 150 150 180 50 100 150 200 2014 2015 2016 2017 2018 2019f

units

• No. of AMAL’s truck

Efficient route management

Backhauling management

• AMAL constantly extends the service

routes, including backhauling services that will continuously drive our revenues. Liquid Products

8

2018 statements of financial position

9

Bought “Alisha” of USD 8.7 million

• Jan 2018

Dividend payment of Baht 129.48 million

• May 2018

3,755.52 1,692.86 2,062.66 3,667.30 1,612.77 2,054.53

• 1,500

3,000 4,500 6,000 Total Assets Total Liabilities Total Shareholders' Equity

FY2017 FY2018 (2.35%) (88.22) (4.73%) (80.09) (0.39%) (8.13)

Financial Statement (Consolidated) as at December 31, 2018

181.54 230.50 265.14 287.27 324.11 335.85 386.25 454.44 384.45 440.56 451.03 497.93 178.36 228.58 263.83 290.92 298.79 331.29 378.32 452.87 379.44 436.14 451.06 498.41 60.31 83.05 92.75 87.91 125.46 94.56 121.02 161.82 85.78 112.62 112.77 132.38 27.4% 30.0% 32.3% 29.8% 27.7% 26.2% 25.5% 32.5% 16.8% 18.1% 17.3% 20.7% 12.7% 18.3% 18.0% 11.9% 22.4% 11.0% 14.0% 19.7% 0.9% 5.5% 4.8% 8.1%

• 60%
• 40%
• 20%

0% 20% 40%

• 200

400 600 800 1,000

1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 Service Income Service Income w/o FX EBITDA GP Margin NP Margin

Comprehensive Income Statement (Consolidated)

Revenue is on the upward trend

10

1,500.65 422.93 253.15 1,773.97 325.79 89.52

• 400

800 1,200 1,600 2,000

Service Income Gross Profit Net Profit

FY2017 FY2018

18.21% 273.32 (22.97%) (97.14) (64.64%) (163.62) 28.18% 18.37%

0% 10% 20% 30% 40% 2017 2018

Gross Profit Margin

16.87% 5.05%

0% 10% 20% 30% 2017 2018

Net Profit Margin

341.80 121.80 78.06 361.62 69.40 20.79

• 50

100 150 200 250 300 350 400

Service Income Gross Profit Net Profit

2017 2018

5.80% 19.83

Comprehensive Income Statement (Separate) for three-month period end December 31, 2018

4Q18 marine services

(43.02%) (52.40) (73.36%) (57.26) 35.63% 19.19%

10% 20% 30% 40% 2017 2018

Gross Profit Margin

232.98 232.41 290.59 341.80 273.33 323.29 329.46 361.62 69.38 63.51 85.63 121.80 45.14 58.98 53.49 69.40

100 200 300 400 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18

Service income Gross profit

MB

11

22.84% 5.75%

0% 10% 20% 30% 2017 2018

Net Profit Margin

USD/Barrel

1,097.77 340.33 217.95 1,287.71 227.01 41.15

• 300

600 900 1,200 1,500

Service Income Gross Profit Net Profit

2017 2018

17.30% 189.94

Comprehensive Income Statement (Separate) for the year end December 31, 2018

2018 marine services

(33.30%) (113.32) (81.12%) (176.80) 31.00% 17.63%

10% 20% 30% 40% 2017 2018

Gross Profit Margin

53.59 49.55 52.10 61.40 66.86 74.53 75.07 68.76 69.38 63.51 85.63 121.80 45.14 58.98 53.49 69.40 40 80 120 160 20 40 60 80 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18

• Avg. Brent FOB spot price

Gross profit

MB

12

19.85% 3.20%

0% 10% 20% 30% 2017 2018

Net Profit Margin

USD/Barrel

112.65 24.77 12.11 136.31 33.77 19.94

• 20

40 60 80 100 120 140 160

Service Income Gross Profit Net Profit

2017 2018

21.00% 23.39

Comprehensive Income Statement for three-month period end December 31, 2018

4Q18 inland truck services

36.33% 9.00 64.44% 7.83 13 21.99% 24.77%

20% 22% 24% 26% 2017 2018

Gross Profit Margin

91.13 103.43 95.67 112.65 111.12 117.26 121.57 136.31 20.06 24.39 12.50 24.77 19.55 20.76 24.70 33.77

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 30 60 90 120 150

Service income Gross profit 10.75% 14.63%

0% 5% 10% 15% 20% 2017 2018

Net Profit Margin

MB

402.88 81.73 36.25 486.27 98.78 49.82

• 100

200 300 400 500 600

Service Income Gross Profit Net Profit

2017 2018

20.70% 83.39

Comprehensive Income Statement for the year end December 31, 2018

2018 inland truck services

20.86% 17.05 37.43% 13.57 14 20.29% 20.31%

10% 20% 30% 2017 2018

Gross Profit Margin

247.97 290.48 275.64 313.47 301.93 612.19 913.61 1276.20 91.13 103.43 95.67 112.65 111.12 117.26 121.57 136.31 50 100 150 1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 500 1,000 1,500 transportation volume Service income

9.00% 10.25%

0% 10% 20% 2017 2018

Net Profit Margin

MB

Ama Chao Anoma Bergprai Primrose Meson Meya

Highlight ratio

Key financial metrics (Consolidated) FY2016 FY2017 FY2018 ∆ Current Ratio (times) 4.65 1.44 0.72 (0.72) Quick Ratio (times) 4.54 1.34 0.60 (0.74) Debt to Equity Ratio (times) 0.56 0.82 0.78 (0.04) Interest Bearing Debt-to-Equity (times) 0.52 0.77 0.71 (0.06) Return on Assets (%) 8.97 9.18 4.87 (4.31) Return on Fixed Assets (%) 22.95 20.63 12.81 (7.82) Return on Equity (%) 11.51 12.23 4.35 (7.88)

15

Salina Anika

10% 35% 16

3 keys to turn over

• Full capacity utilization
• Increasing back haul routes

1,000 2,000 3,000 4,000 5,000 2019 2020 2021 2022 2023 2024 2025 M&A Land logistics Marine logistics

Target Revenue Growth

15%

Revenue growth

2019 organic growth

Marine services

• Diversify to other products
• Back haul

Inland tank services

• 30 additional truck tanks
• Diversify to other products
• Back haul

Ready to turn around

Inorganic growth

MB

• Cost efficiency management

48% 9% 43% 56% 13% 31%

www.amamarine.co.th

AMA Marine Public Company Limited 33/4 the 9th Towers, Room #TNA02, 33rd Floor, Tower A, Rama 9 Road, Huaykwang, Bangkok 10300 Thailand Tel: (662) 001-2801 Fax: (662) 001-2800 website: www.amamarine.co.th For further information and enquiries, please contact our IR Tel: (662) 001-2801 # 174 email: ir@amamarine.co.th, chayanin.a@amamarine.co.th Feedback: http://www.amamarine.co.th/feedback.php SEARCH