3 Q Q 20 2019 19/20 BTS GROUP EAR EARNIN INGS PR PRESENTATIO ION 19 19 Febru ruary 20 20 20
Dis isclaimer Investment involves risk. Prospective should understand the characteristics of Securities and study information about BTS Group Holdings Public Company Limited (the “Company”) before making a decision to invest in Securities. This presentation is for information purposes only and is intended only for the initial direct attendee of the presentation. It may not be reproduced or redistributed to any other person. It shall not and does not constitute either an offer to purchase or buy or a solicitation to purchase or buy or an offer to sell or exchange or a solicitation to sell or exchange any securities of BTS Group Holdings PCL (the "Company") or any of its subsidiaries in the United States of America or in any other jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its existence, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. This presentation is not to be relied upon in any manner as legal, tax or any other advice and shall not be used in substitution for the exercise of independent judgment and each person made aware of the information set-forth hereof shall be responsible for conducting its own investigation and analysis of the information contained herein. Except where otherwise indicated, the information provided in this presentation is based on matters as they exist as of the date stated or, if no date is stated, as of the date of preparation and not as of any future date, and the information and opinions contained herein are subject to change without notice. None of the Company nor any of its subsidiaries accepts any obligation to update or otherwise revise any such information to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. None of the Company or any of its subsidiaries or any of their respective directors, officers, employees or agents shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation and any and all such liability is expressly disclaimed. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of the Company. Some statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respect to the Company’s corporate plans, strategies and beliefs and other statement that are not historical facts. These statement can be identified by the use of forward-looking terminology such as “may”, “will”, “expect” , “intend”, “estimate”, “continue”, “plan” or other similar words. The statements are based on the assumptions and beliefs of the Company’s management in light of the information currently available to the Company. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this Presentation is, or should be relied on as promise or representation of the Company as to the future. BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 2 BTS BTS Grou oup Hol Holding dings PCL
BTS Group Up Update Sustain Sus inable le Dev Developmen ent Rec ecognition 20 2019/20 DJS JSI in the Em Emergin ing Markets ts 20 2019 ( 2 nd Rank in the Transportation Sector ) GROWIN ING Silv Si lver Class Disti tincti tion SUSTAINABIL ILITY in The Sustainability Yearbook 2020 Plati tinum Award GROWING TOGETHER of the Asset ESG Corporate Award 2019 Su Susta tain inabil ilit ity Disclo losure Recognit itio ion 20 2019 by Thaipat Institute Thail iland Su Susta tain inabil ilit ity Inv Investment t (THSI) ) list t 201 2019 from The Stock Exchange of Thailand Bes est Gr Green Bon ond at The Asset Triple A Sustainable Capital Markets Regional Awards 2019 by the Asset Magazine BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 3 BTS BTS Grou oup Hol Holding dings PCL
Agenda SECTION 1 SE 3 Q Q 20 2019/20 FIN FINANCIAL PER ERFORMANCE SECTION 2 SE BUSINESS UP UPDATES SE SECTION 3 APPENDICES BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 4 BTS BTS Grou oup Hol Holding dings PCL
3 Q Q 20 2019/20 Hig ighlights FINANCIAL POSITION P&L L HI HIGH GHLIGHTS 9M M CA CASH FLOW Solid growth in Balance sheet Financing cash earmarked for profitability remains strong investments in Mass Transit projects Ope pera ratin ing Revenue of THB THB 11.1b 11.1bn Cas ash h & & Li Liqu quid id Inv nvest stments Cas ash h re receiv ived THB THB 19. 19.8b 8bn (42)% YoY fro rom the the exercis ised BTS TS-W4 W4 THB 13. THB 13.7bn Net t cas cash h re receiv ived Ope pera ratin ing EBIT BITDA of THB THB 2. 2.3b 3bn Low leverage fro rom long ng-term deb debentures +21% YoY THB THB 7.5 .5bn bn Adjust Adju sted Net t D/E 0. 0.84x 84x Reco cord Recu curr rring Net t Pro rofit it Net t inv nvest stment nts s in n of THB THB 2. 2.4bn 4bn Pink nk & & Yello low Li Line nes s & & Gre reen Ext xtensio ions + 143% YoY THB THB 16. 16.8b 8bn BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 5 BTS Grou BTS oup Hol Holding dings PCL Section 1: 3 Q 2019/20 Financial Performance
3 Q Q 20 2019/20 Overview P&L &L SNAPSHOT INCOME STATEMENT (THB mn mn) 3 Q Q 2019/20 3 Q Q 2018/19 % YoY 2 Q 2019/20 % % QoQ 9 M 2019/20 9 M 2018/1 /19 %Yo YoY Operating Revenue 1 11,069 1 9 , 052 ( 42 )% 11,359 (3) % 31 ,513 37,959 (17)% Gross operating profit 2,882 2,299 2,371 25% 22% 7,429 5,621 32% Operating EBITDA 2 2,253 1,862 21% 1,814 24% 5,730 4,420 30% Recurring net profit – after MI 2,378 1,131 980 143% 110% 4,515 2,282 98% Accounting EBITDA 3,808 2,345 62% 2,599 4 7 % 8,480 5,140 65% Net income (loss) 3 2,460 1,189 107% 1,278 93% 4,631 2,246 106% Gross operating profit margin (%) 23.6% 14.8% 26.0% 12.1% 20.9% Accounting EBITDA margin (%) 24.6% 13.1% 30.0% 12.0% 21.4% Recurring net profit margin – after MI(%) 13.2% 5.9% 19.0% 5.1% 9.4% Operating EBITDA margin (%) 20.4% 9.8% 16.0% 18.2% 11.6% 1 operating revenue of 4 BUs & share of net profit from BTSGIF 2 excluding non-mass transit interest income 3 to equity holders of the parent 3 Q Q 2019/20 OPE OPERATING REV REVENUE BR BREAKD KDOWN OPERATING REVE OPE REVENUE COMPARISON (YoY) ( THB mn) Media Me 17% (49)% )% 28% 28% 25% 25% Mas Mass Tran ransit 24% 19,052 (8,461) 78% Property 89 25 364 11,069 1% Services Se 4% 3Q FY18/19 Mass Transit Media Property Services 3Q FY19/20 BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 6 BTS BTS Grou oup Hol Holding dings PCL Section 1: 3 Q 2019/20 Financial Performance
9 M M 20 2019/20 Cas ash Flo Flow Snapshot CFO CFI CFF • Profit before tax of THB 6.0bn, deducted • Net investment for construction of the Pink and • Cash received from the exercised BTS-W4 of THB by Yellow lines of THB 8.9bn 13.7bn • Non-cash reconciling items of THB 2.2bn • Cash paid for purchase of investment properties • Net increase in long-term loans from financial • Changes in net working capital of THB of THB 4.1bn institutions of THB 12.5bn mainly for the Pink and 12.1bn (this includes net investment in • Net cash paid for acquisitions of current and Yellow lines mass transit projects of THB 7.9bn) other long-term investments, and investment in • Net increase in long-term debentures of THB 7.5bn derivative instruments of THB 1.0bn • Net cash received mainly from sale of VGI and VGI- • Cash received in advance from sale of W2 of THB 3.7bn investment in Bayswater of THB 2.3bn • Net cash paid for short-term loans from financial • Cash received from return of capital of asso./ JVs institutions and bills of exchange payables of THB of THB 1.0bn 12.3bn ( THB mn) • Dividend payment of THB 3.1bn in August 2019 (39) 21,410 3,830 3 4,021 (11,415) 1 (10,147) 2 Beginning cash CFO CFI CFF Others Ending cash (31/3/19) (31/12/19) 1 CFO included • Corporate income tax of THB 1,413mn • Net interest expenses of THB 1,773mn • Net investment for construction of the Pink and Yellow Lines of THB 3.1bn • Net investment for E&M works and trains procurement for the Southern and Northern Green Line extensions of THB 4.8bn 2 CFI included net investment for construction of the Pink and Yellow Lines of THB 8.9bn 3 Excluding liquid investments of THB 15.9bn BTS Gro roup Ear arnings Pres Presentation prepared by Investor Relations department 7 BTS Grou BTS oup Hol Holding dings PCL Section 1: 3 Q 2019/20 Financial Performance
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