3Q19 Financial Results Analyst Meeting Presentation Chememan - - PowerPoint PPT Presentation

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3Q19 Financial Results Analyst Meeting Presentation Chememan - - PowerPoint PPT Presentation

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3Q19 Financial Results Analyst Meeting Presentation Chememan Analyst Presentation 3Q19 1. Key Highlights of 3Q19 - EBITDA & Net Profit - Ratios 2. Financial Performance - Analysis by Product Quicklime - Exchange rate Table of

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SLIDE 1

3Q19 Financial Results Analyst Meeting Presentation

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SLIDE 2

Chememan Analyst Presentation 3Q19 2

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Table of Contents

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas
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SLIDE 3

Chememan Analyst Presentation 3Q19 3

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Key Highlights of 3Q19

  • CMAN has been awarded “CSR-DPIM Continuous Award 2018”, with excellent

level in operating mineral dressing plant with continuous corporate social responsibilities from Department of Primary Industries and Mines

  • Investment in Vietnam by acquiring 80% portion of capital contribution of

Ha Long QN Lime Company Limited on 20 November 2019

  • Dissolution of Tubkwang Company Limited, a 99.99% owned non-active

subsidiary

  • KK3 quicklime kiln shut down for maintenance for 45 days in 3Q19
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SLIDE 4

Chememan Analyst Presentation 3Q19

Financial Performance of 3Q19 & 9M19

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SLIDE 5

Chememan Analyst Presentation 3Q19 5

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Financial Highlights

  • f 3Q19

Unit : Million Baht 3Q19 2Q19 3Q18 %QoQ %YoY

Sales Revenue 584 561 588 +4.1%

  • 0.7%

Cost of Sales (not include depreciation & amortization) (361) (344) (351) +4.8% +2.8% Transportation cost (111) (117) (106)

  • 4.9%

+4.6% Gross Profit (net transportation cost and depreciation & amortization) 112 100 131 +12.3%

  • 14.3%

Gross Profit Margin (net transportation cost and depreciation & amortization) (%) 23.7% 22.5% 27.2% Other income 7 5 5 +32.2% +30.1% Selling expenses (13) (10) (9) +34.1% +50.4% Administrative expenses (47) (37) (40) +27.0% +19.1% Gain (Loss) on exchange rate (11) (9) (5)

  • 22.6%
  • 136.8%

Non-cash expenses 7 15 13

  • 55.2%
  • 46.7%

EBITDA 54 64 96

  • 15.2%
  • 43.1%

Adjust : (a) Gain (Loss) on exchange rate 11 9 5 +22.6% +136.8% Adjust : (b) Cost incurred by temporary shutdown of kiln for maintenance 6 8 6

  • 27.7%
  • 9.3%

Normalized EBITDA 71 81 107

  • 12.3%
  • 33.5%

Normalized EBITDA Margin (%) 12.1% 14.4% 18.1% Depreciation & Amortization (54) (49) (47) +9.8% +14.0% Depreciation & Amortization – Cost of sales (50) (46) (43) +9.2% +14.8% Depreciation & Amortization – Administrative expenses (4) (4) (4) +18.2% +6.2% Finance costs (13) (12) (20) +9.9%

  • 36.4%

Interest received 1 1 1 +58.4% +103.2% Adjust : (c) Loan prepayment fee 11 N/A

  • 100.0%

Share of loss from investment in joint ventures (4) (2) (1)

  • 186.1%
  • 308.6%

Gain (Loss) on tax (1) 4 4 N/A N/A Normalized Net Profit 23 54

  • 98.9%
  • 99.5%

Normalized Net Profit Margin (%) 0.0% 4.1% 9.2% (a) Gain (Loss) on exchange rate (11) (9) (5)

  • 22.6%
  • 136.8%

(b) Cost incurred by temporary shutdown of kiln for maintenance (6) (8) (6)

  • 27.7%
  • 9.3%

(c) Loan prepayment fee (11) N/A N/A (d) Non-cash expenses (7) (15) (13)

  • 55.2%
  • 46.7%

Net Profit (Loss) (23) (9) 20

  • 166.3%

N/A Net Profit (Loss) Margin (%) (4.8%) (1.9%) 4.1% Earnings (Loss) per share (baht) (0.02) (0.01) 0.02

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SLIDE 6

Chememan Analyst Presentation 3Q19 6

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Financial Highlights

  • f 9M19

Unit : Million Baht 9M19 9M18 %YoY

Sales Revenue 1,757 1,831

  • 4.1%

Cost of Sales (not include depreciation & amortization) (1,058) (1,095)

  • 3.4%

Transportation cost (343) (314) +9.2% Gross Profit (net transportation cost and depreciation & amortization) 355 422

  • 15.8%

Gross Profit Margin (net transportation cost and depreciation & amortization) (%) 25.1% 27.8% Other income 15 10 +46.4% Selling expenses (32) (25) +29.0% Administrative expenses (127) (112) +12.8% Gain (Loss) on exchange rate (25) 1 N/A Non-cash expenses 24 12 +105.8% EBITDA 210 307

  • 31.6%

Adjust : (a) Gain (Loss) on exchange rate 25 (1) N/A Adjust : (b) Cost incurred by temporary shutdown of kiln for maintenance 15 6 +137.8% Normalized EBITDA 250 313

  • 20.0%

Normalized EBITDA Margin (%) 14.2% 17.1% Depreciation & Amortization (152) (137) +10.7% Depreciation & Amortization – Cost of sales (140) (127) +10.4% Depreciation & Amortization – Administrative expenses (11) (10) +14.7% Finance costs (34) (49)

  • 30.1%

Interest received 3 2 +30.3% Adjust : (c) Loan prepayment fee 11

  • 100.0%

Share of loss from investment in joint ventures (7) (3)

  • 141.1%

Gain (Loss) on tax 5 7

  • 18.3%

Normalized Net Profit 65 143

  • 54.8%

Normalized Net Profit Margin (%) 3.7% 7.8% (a) Gain (Loss) on exchange rate (25) 1 N/A (b) Cost incurred by temporary shutdown of kiln for maintenance (15) (6) +137.8% (c) Loan prepayment fee (11) N/A (d) Non-cash expenses (24) (12) +105.8% Net Profit (Loss) 1 115

  • 99.3%

Net Profit (Loss) Margin (%) 0.1% 7.6% Earnings (Loss) per share (baht) 0.00 0.13

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SLIDE 7

Chememan Analyst Presentation 3Q19 7

459 491 438 434 483 427 449 1,388 1,360 98 97 89 107 60 68 63 283 192 39 59 62 51 69 65 71 160 205

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19 Quicklime Hydrated Lime Limestone

152,262 153,551 134,949 124,893 148,330 128,525 141,936 440,763 418,792 25,684 24,243 22,588 26,147 13,850 17,074 16,174 72,515 47,098 90,909 146,939 147,813 105,421 167,187 158,244 207,502 385,661 532,933

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19 Quicklime Hydrated Lime Limestone Unit : THB million

592 612 597 647 588

Sales Revenues Sales Quantities

329,368 305,350 256,461 268,855 324,733

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Sales by Products

Unit : MT

303,842 898,938 998,822 561 1,831 1,757 365,612 584

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SLIDE 8

Chememan Analyst Presentation 3Q19 8

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19 Domestic International 1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19 Domestic International

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Domestic Vs International

329,368 305,350 256,461 36% 64% 33% 33% 67% 67% 67% 40% 60% 33% 268,855 324,733

Unit : THB million

Sales Revenues

592 588 612 55% 62% 52% 45% 37% 64% 63% 597 647 38% 36% 48%

Unit : MT

Sales Quantities

64% 36% 60% 40% 1,831 898,938 998,822 303,842 29% 30% 71% 70% 58% 58% 42% 42% 561 1,757 72% 28% 365,612 584 60% 40%

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SLIDE 9

Chememan Analyst Presentation 3Q19 9

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Sales by Industries – 9M19

1. Mining 2. Sugar 3. Pulp-Paper-PCC 4. Building, Construction & Roadways 5. Bio-Plastic 6. Chemicals 7. Environment 8. Agriculture 9. Iron & Steel

  • 10. Glass & Bottle
  • 11. Others

Industries Ranking

Mining, 41.1% Sugar, 12.6% Pulp - Paper - PCC, 11.7% Building Construction & Roadways, 10.5% Bio-plastic, 3.7% Chemicals, 4.3% Environment, 3.6% Agriculture, 3.6% Iron & Steel, 2.1% Glass & Bottle, 2.5% Others, 4.3%

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SLIDE 10

Chememan Analyst Presentation 3Q19 10

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

EBITDA & Net profit

111 95 107 111 99 81 71 313 250 18.6% 14.8% 18.1% 18.7% 16.1% 14.4% 12.1% 17.1% 14.2%

0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% 50 100 150 200 250 300 350 400

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19 Normalized EBITDA Normalized EBITDA Margin

Net Profit

Unit : THB million

Normalized Net Profit

Unit : THB million

EBITDA

Unit : THB million

Normalized EBITDA

Unit : THB million

99 113 96 109 92 64 54 307 210 16.6% 17.5% 16.3% 18.3% 15.0% 11.4% 9.3% 16.8% 12.0%

  • 10.0%
0.0% 10.0% 20.0% (30) 20 70 120 170 220 270 320 370 420

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19 EBITDA EBITDA Margin 37 59 20 45 32 (9) (23) 115 1 7.4% 11.1% 4.1% 9.4% 6.5%

  • 1.9%
  • 4.8%

7.6% 0.1%

  • 30.0%
  • 25.0%
  • 20.0%
  • 15.0%
  • 10.0%
  • 5.0%
0.0% 5.0% 10.0% (30) (10) 10 30 50 70 90 110 130 150

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19 Net Profit Net Profit Margin 53 36 54 55 41 23 143 65 8.9% 5.6% 9.2% 9.2% 6.8% 4.1% 0.0% 7.8% 3.7%

  • 40.0%
  • 30.0%
  • 20.0%
  • 10.0%
0.0% 10.0% 20.0% 20 40 60 80 100 120 140 160 180 200

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19 Normalized Net Profit Normalized Net Profit Margin

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SLIDE 11

Chememan Analyst Presentation 3Q19 11

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Analysis by Products Quicklime

Quicklime Unit 3Q19 2Q19 3Q18 9M19 9M18 Sales Quantities

MT

141,936 128,525 134,949 418,792 440,763 Domestic

MT

44,906 48,747 48,474 160,152 186,810 International

MT

97,031 79,778 86,474 258,640 253,953 Price per unit

BPT

3,166 3,323 3,243 3,247 3,149 COGS per unit

BPT

(2,266) (2,340) (2,189) (2,269) (2,135) Transportation expense per unit

BPT

(536) (611) (567) (569) (524) Sales Revenue

MB

449 427 438 1,360 1,388 Domestic

MB

127 140 134 457 506 International

MB

322 287 303 902 882 Cost of goods sold

MB

(322) (301) (295) (950) (941) Transportation expense

MB

(76) (79) (76) (238) (231) Gross Profit (Net Transportaion)

MB

52 48 66 172 216 % Gross Profit Margin (Net Transportation)

%

13.8% 13.7% 18.2% 15.3% 18.7%

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SLIDE 12

Chememan Analyst Presentation 3Q19 12

213 159 134 140 191 140 127 506 457 246 332 303 293 293 287 322 882 902

21.1% 16.8% 18.2% 20.6% 18.2% 13.6% 13.8% 18.7% 15.3%

  • 15.0%
  • 10.0%
  • 5.0%
0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19

79,680 58,656 48,474 48,992 66,500 48,747 44,906 186,810 160,152 72,583 94,895 86,474 75,901 81,831 79,778 97,031 253,953 258,640

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Analysis by Products Quicklime

Sales Quantities

418,792 MT 9M19

Sales Revenue

1,360 MB

Price/unit

3,247 Baht

Gross Profit

Net transportation

172 MB

Gross Profit Margin

Net transportation

15.3%

Sales Quantities Sales Revenue

Unit : MT Unit : THB million

Domestic International % Gross Profit Margin (Net Transportation)

148,330 134,949 124,893 152,262 153,551

483 438 434 459 491

128,525 440,763 418,792

427 1,388 1,360

141,936

449

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SLIDE 13

Chememan Analyst Presentation 3Q19 13

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Analysis by Products Hydrated Lime

Hydrated Lime Unit 3Q19 2Q19 3Q18 9M19 9M18 Sales Quantities

MT

16,174 17,074 22,588 47,098 72,515 Domestic

MT

10,745 9,754 8,924 28,549 27,350 International

MT

5,429 7,320 13,665 18,549 45,165 Price per unit

BPT

3,924 4,008 3,922 4,070 3,905 COGS per unit

BPT

(2,464) (2,557) (2,463) (2,522) (2,502) Transportation expense per unit

BPT

(692) (820) (423) (732) (443) Sales Revenue

MB

63 68 89 192 283 Domestic

MB

33 30 28 88 86 International

MB

30 38 60 103 197 Cost of goods sold

MB

(40) (44) (56) (119) (181) Transportation expense

MB

(11) (14) (10) (34) (32) Gross Profit (Net Transportaion)

MB

12 11 23 38 70 % Gross Profit Margin (Net Transportation)

%

23.7% 19.8% 29.6% 24.5% 27.7%

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SLIDE 14

Chememan Analyst Presentation 3Q19 14

31 27 28 27 25 30 33 86 88 67 70 60 80 35 38 30 197 103

27.5% 26.2% 29.6% 29.4% 30.2% 19.8% 23.7% 27.7% 24.5%

  • 4.0%
1.0% 6.0% 11.0% 16.0% 21.0% 26.0% 31.0% 50 100 150 200 250 300 350

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19

9,822 8,604 8,924 8,541 8,050 9,754 10,745 27,350 28,549 15,862 15,639 13,665 17,606 5,800 7,320 5,429 45,165 18,549

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Analysis by Products Hydrated Lime

Sales Quantities

47,098 MT

Sales Revenue

192 MB

Price/unit

4,070 Baht

Gross Profit

Net transportation

38 MB

Gross Profit Margin

Net transportation

24.5%

Sales Quantities Sales Revenue

Unit : THB million Unit : MT

Domestic International % Gross Profit Margin (Net Transportation)

9M19

13,850 22,588 26,147 25,684 24,243 60 89 107 98 97 17,074 72,515 47,098 68 283 192 16,174 63

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SLIDE 15

Chememan Analyst Presentation 3Q19 15

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Analysis by Products Limestone

Limestone and Construction Stone Unit 3Q19 2Q19 3Q18 9M19 9M18 Sales Quantities

MT

207,502 158,244 147,813 532,933 385,661 Domestic

MT

207,502 158,238 147,513 512,207 365,179 International

MT

  • 5

300 20,726 20,481 Price per unit

BPT

342 412 417 385 415 COGS per unit

BPT

(209) (237) (249) (216) (243) Transportation expense per unit

BPT

(113) (151) (134) (132) (133) Sales Revenue

MB

71 65 62 205 160 Domestic

MB

71 65 60 193 149 International

MB

  • 2

12 11 Cost of goods sold

MB

(43) (38) (37) (115) (94) Transportation expense

MB

(23) (24) (20) (70) (51) Gross Profit (Net Transportaion)

MB

4 4 5 20 15 % Gross Profit Margin (Net Transportation) % 8.8% 9.2% 11.8% 14.7% 14.1%

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SLIDE 16

Chememan Analyst Presentation 3Q19 16

39 50 60 50 57 65 71 149 193 10 2 1 12 11 12

8.8% 20.3% 11.8% 12.2% 25.7% 9.2% 8.8% 14.1% 14.7%

  • 50.0%
  • 40.0%
  • 30.0%
  • 20.0%
  • 10.0%
0.0% 10.0% 20.0% 30.0%
  • 20
30 80 130 180 230 280

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19

90,909 126,758 147,513 105,321 146,467 158,238 207,502 365,179 512,207 20,181 300 100 20,720 5 20,481 20,726

1Q18 2Q18 3Q18 4Q18 1Q19 2Q19 3Q19 9M18 9M19

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Analysis by Products Limestone

Sales Quantities

532,933 MT

Sales Revenue

205 MB

Price/unit

385 Baht

Gross Profit

Net transportation

20 MB

Gross Profit Margin

Net transportation

14.7%

Sales Quantities Sales Revenue

Unit : THB million Unit : MT

Domestic International % Gross Profit Margin (Net Transportation)

9M19

167,187 147,813 105,421 90,909 146,939 69 62 51 39 59 158,244 385,661 532,933 65 160 205 207,502 71

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SLIDE 17

Chememan Analyst Presentation 3Q19 17

3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18 3Q19 2Q19 1Q19 4Q18 3Q18 2Q18 1Q18

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Production Capacity

RY

73% 23% 35% 65% 27% 77%

146,375 MT 135,156 MT 169,826 MT

Hydrated Lime Production Quicklime Production

Remarks : - PB1 quicklime kiln shut down for maintenance for 46 days in 2Q19

  • Only 1 quicklime kiln at PB was operated in 3Q18, 4Q18, 1Q19, 2Q19 &3Q19
  • KK1 quicklime kiln was temporary shut down for maintenance as per scheduled maintenance plan in 3Q18
  • KK3 quicklime kiln was temporary shut down for system connection with KK4 in 4Q18 and temporary shut down for maintenance

for 45 days in 3Q19

  • KK4 quicklime kiln commenced operation in 1Q19

78% 22% 81% 19%

154,694 MT 138,075 MT 21,118 MT 20,663 MT 19,973 MT 18,048 MT 21,544 MT 136,878 MT

89% 11%

PB KK

13,039 MT 142,379 MT

79% 21%

17,360 MT

slide-18
SLIDE 18

Chememan Analyst Presentation 3Q19 18 1,070 1,223 2,223 2,188 2,138 1,298 1,556 1,162 1,493 1,629 414 438 439 335 415 2016 2017 2018 2Q19 3Q19 Equities Interest Bearing Debt Others 650 739 875 950 1,039 2,132 2,478 2,950 3,066 3,144 2016 2017 2018 2Q19 3Q19 Current Asset Non-Current Asset

4,182

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Balance Sheet

Asset (THB million) Liabilities & Equity (THB million)

2,782 2,782 3,217 3,217 3,824 3,824 4,016 4,016 4,182

slide-19
SLIDE 19

Chememan Analyst Presentation 3Q19 19

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Sources & Uses of Fund

Unit : THB million

Sources of Fund Uses of Fund

Cashflow from operation 210 Acquisition of Property, Plant & Equipment 216 Long-term loan received 341 Acquisition of intangible assets 9 Short-term loan received 225 Increase in working capital 141 Interest income & others 1 Interest and fee payment 36 Exchange Translation 18 Income tax paid Restricted Bank Deposits 45 Investment in Joint Ventures 113 Long-term loan repayment 94 Other debt repayment 17 Dividend paid 67 Increase in cash 56 SOURCE OF FUND 795 USE OF FUND 795 Beginning Cash 126 Ending Cash 182

slide-20
SLIDE 20

Chememan Analyst Presentation 3Q19 20

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Ratios

Interest-bearing Debt to Equity ratio

Unit : times

Current ratio

Unit : times

0.68x 1.02x 1.41x 1.56x 1.20x 2016 2017 2018 2Q19 3Q19 1.21x 1.27x 0.52x 0.68x 0.76x 2016 2017 2018 2Q19 3Q19

slide-21
SLIDE 21

Chememan Analyst Presentation 3Q19 21

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Exchange Rate

THB against USD & AUD

20.00 21.00 22.00 23.00 24.00 25.00 26.00

Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19

30.00 30.50 31.00 31.50 32.00 32.50 33.00 33.50 34.00

Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19

1Q19 22.91 2Q19 22.49 1Q18 31.71 2Q18 32.12 3Q18 33.15 1Q19 31.79

USD AUD

2Q19 31.74 3Q18 24.52 2Q18 24.54 4Q18 23.93 4Q18 32.99 1Q18 25.19 3Q19 30.88 3Q19 21.42

slide-22
SLIDE 22

Chememan Analyst Presentation 3Q19 22

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update

slide-23
SLIDE 23

Chememan Analyst Presentation 3Q19 23

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update Thailand

Project Location Ownership Estimated CAPEX Installed Capacity (MT/year) Commercial Operation Date To increase production capacity : Thailand To reduce cost of production : Thailand Screening Processing Hub Kangkoi, Saraburi 100% 56.24 MB 288,000MT End of April 2020 Limestone Grinding Plant Phase 2 Tubkwang Quarry 100% 32.4 MB 60,000 Completed Oct 2019 Mobile Screen Tubkwang Quarry 100% 12.7 MB 266,000 End of Q4 2019 CALMIX COMPANY LIMITED Joint venture established To develop, manufacture and distribute construction materials Saraburi, Thailand 51% 30.6 MB Mid of Dec 2019 Business Expansion: Thailand Project Location Ownership Estimated Investment Commercial Operation Date

slide-24
SLIDE 24

Chememan Analyst Presentation 3Q19 24

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update Thailand

Limestone Grinding Plant Phase 2

  • Construction & Installation : Completed
  • Commercial operation on : 1 November 2019
  • Installed capacity : max. 60,000 tons/year
slide-25
SLIDE 25

Chememan Analyst Presentation 3Q19 25

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update Thailand

Mobile Screen

Brief description of projects: To screen the limestone waste into different sizes suitable for sale and for further production processes. Location: Tubkwang Quarry Construction & Installation : on procurement process Commercial operation estimated on : End of Q4 2019

Photos

slide-26
SLIDE 26

Chememan Analyst Presentation 3Q19 26

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update Thailand

Screening Processing Hub

Brief description of projects: To screen the products into different sizes to accommodate various customers’ requirements Location: Kangkoi Plant Construction & Installation : In the process of Designing and Procurement. Expect to start the construction work in mid of November 2019. Commercial operation estimated on : End of Apr 2020 Installed capacity : 288,000 tons/year

Photos

slide-27
SLIDE 27

Chememan Analyst Presentation 3Q19 27

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update Thailand

CalMix Co., Ltd.

  • Construction & Installation : in progress 95%

completion

  • Silos’ raw material and accessories are

completed.

  • Machines and dust collection system are

completed

  • Hydrated lime silo filled up
  • Commercial operation estimated on : Mid of

Dec 2019

  • Installed capacity : max. 100,000 tons/year

(For the 1st phase, the operating capacity will be 10,000 tons/year)

slide-28
SLIDE 28

Chememan Analyst Presentation 3Q19 28

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update Overseas

Project Location Owner ship Estimated Investment Installed Capacity (MT/year) Commercial Operation Date To expand the business : India SIRIMAN CHEMICALS INDIA PRIVATE LIMITED Joint venture established Lime manufacturing and distributing company Visakhapatnam, Andhra Pradesh 50% 130 million INR 109,500 of Quicklime Y 2020 87,600 of Hydrated Lime To expand the business : Vietnam HA LONG QN LIME COMPANY LIMITED Indirect Subsidiary Lime manufacturing and distributing company with limestone mining concession Quang Ninh, Vietnam 80% Not exceeding 30 million USD 219,000 of Quicklime 20 November 2019 109,500 of Hydrated Lime

slide-29
SLIDE 29

Chememan Analyst Presentation 3Q19 29

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update Overseas

Siriman Chemicals India Private Limited

  • Kiln shell erection completed. Machinery installation

progress 80%, will be finished in Nov except refractory installation.

  • Coal grinding mill building completed. Machinery

installation will be finished in Feb 2020.

  • QL handling civil works progress 70%, will be finished in

this year.

slide-30
SLIDE 30

Chememan Analyst Presentation 3Q19 30

  • 1. Key Highlights of 3Q19
  • 2. Financial Performance
  • Financial Highlights – 3Q19
  • Financial Highlights – 9M19
  • Sales by Products
  • Domestic Vs International
  • Sales by Industries
  • EBITDA & Net Profit
  • Analysis by Product – Quicklime
  • Analysis by Product – Hydrated Lime
  • Analysis by Products – Limestone
  • Production Capacity
  • Balance Sheet
  • Sources & Uses of Fund
  • Ratios
  • Exchange rate
  • 3. Project Progress Update
  • Progress Update – Thailand
  • Progress Update – Overseas

Project Progress Update Overseas

Ha Long QN Lime Company Limited

  • A multi-member limited liability company

established since 3 August 2018

  • Locate in Quang Ninh Province, near

Hai Phong Port

  • Operate limestone mining and manufacturing
  • f lime products
  • Mineral exploitation license, expire on

11 May 2046

  • CMAN acquired 80% capital contribution

via Northman Company Limited on 20 November 2019

slide-31
SLIDE 31

Thank You

slide-32
SLIDE 32

Some statements made in this material are forward-looking statements with the relevant assumptions, which are subject to various risks and uncertainties. These include statements with respect to our corporate plans, strategies and beliefs and other statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “intend”, “estimate”, “continue” “plan” or other similar words. The statements are based on our management’s assumptions and beliefs in light of the information currently available to us. 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. Please note that the company and executives/staff do not control and cannot guarantee the relevance, timeliness, or accuracy of these statements.

Disclaimer