A Strong Foundation for the Limitless Potential of the Future - - PowerPoint PPT Presentation

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A Strong Foundation for the Limitless Potential of the Future - - PowerPoint PPT Presentation

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A Strong Foundation for the Limitless Potential of the Future Integrated Transportation System February 2017 Company Overview Amalgamation of BECL and BMCL Transfer all Rights, Duties, Assets, Liabilities, etc. to BEM Major

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A Strong Foundation for the Limitless Potential

  • f the Future Integrated Transportation System

February 2017

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SLIDE 2

2

Company Overview

  • Amalgamation of BECL and BMCL
  • Transfer all Rights, Duties,

Assets, Liabilities, etc. to BEM

  • Major shareholders (as of Sep 15, 2016)
  • 1. CK

29.73%

  • 2. MRTA

8.22%

  • 3. KTB

6.85%

  • BEM Paid-up Capital 15,285 MB.
  • Market Cap apx 107,759 MB. (as of Jan 31, 2017)
  • Currently in SET50, MSCI Global, FTSE
  • Foreign Limit 49%
  • First Trading day on Jan 5, 2016

99.99% 65.19% 19.45% 19.40% 7.50%

Investments as of Jan 31, 2017 Reference Rate : 1 USD = 35.193 Baht as of Jan 31, 2017

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3

Overview of Expressway Business

Expressway Network Distance (kms.) Operator

  • 1. First Stage Expressway System (FES)

27.1 EXAT

  • 2. Second Stage Expressway System (SES)

38.5 BEM

  • 3. Northern Stage Expressway (C+)

(Bang Pa In – Pak Kret Expressway) 32.0 NECL

  • 4. Don Muang Tollway (DMT)

28.0 DMT

  • 5. Ramindra-Atnarong Expressway (RAE)

32.9 EXAT

  • 6. Ramindra-Outer Ring Road Expressway

9.5 EXAT

  • 7. Bang Pli - Suksawad Expressway

(Southern Outer Bangkok Ring Road) and Highway No. 37 (Suksawad-Bang Khun Thien Section) 42.3 EXAT

  • 8. Bangna-Chonburi Expressway

56.7 EXAT

  • 9. Si Rat – Outer Ring Road Expressway (SOE)

16.7 BEM Total 283.7

  • BEM is the largest private expressway operator in Thailand.
  • More than 1 million journeys a day in BEM toll road system.
  • BEM is now an operator of
  • SES (Sector A-B-C-D) under two concession agreements ending in 2020 and 2027 respectively, and
  • SOE is operated on August 22, 2016
  • BEM shares 40% of Toll Revenue from FES Toll road under SES Concession.
  • NECL, a subsidiary of BEM, is an operator of Bangpain-Pak Kret expressway (Sector C+) under a concession agreement

ending in 2026.

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4

Highlights of Expressway Business

7,811 7,308 7,732 8,040 8,485 8,815 6,844 975 1,025 1,085 1,100 1,104 1,142 1,170

Toll Revenues (MB.) Traffic ('000 Trips/Day)

Remaining Concession Period Toll Revenues & Traffic

Financial Strength

2016 2020

Toll Revenues Existing Projects

( FES&SES&C+)

 Reliable cash revenues  Toll revision every 5 years  Rights to extend the contract for 10 years twice SOE Project  East-West Corridor linking between Bangkok city and its vicinity area  Operated by BEM Traffic  Steady traffic growth  CAGR = 3.21% (2010 - 2015)  COD : Aug 22, 2016

  • EXAT is responsible for Land acquisition matter
  • 100% revenues to BEM, but sharing with EXAT

if 13.5% < FIRR ≤ 15.5%, 30% of its NCF that exceeds 13.5% in such year(s) if FIRR > 15.5%, 50% of its NCF that exceeds 15.5% in such year(s)

  • Toll increased every 5 years (Fixed amount)

New Project: SOE

  • 30-year concession (15 Dec 2012 – 2042) under BTO basis
  • Project cost 25,491 MB.
  • Construction Cost 22,500 MB. ( Construction period 48 months)
  • 16.7 kms. with 3-dual lanes, 10 toll plazas (Inbound=6, Outbound=4)

East-West Corridor linking between Bangkok city and its vicinity

2042 2042 2027 2026 2020 2030 FES & SES (Sector A-B-C) Udonrattaya (Sector C+) Sirat Outer Ring (SOE) SES Extension (Sector D)

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Total Traffic Volume

950.00 1,000.00 1,050.00 1,100.00 1,150.00 1,200.00 1,250.00 1,300.00 2017 1,181.32 1,181.32 2016 1,142.40 1,179.80 1,217.11 1,103.63 1,129.92 1,178.37 1,153.70 1,250.26 1,218.43 1,174.29 1,228.76 1,201.85 1,177.73 3.16% 2015 1,111.19 1,176.00 1,176.01 1,071.98 1,115.40 1,134.17 1,137.05 1,136.33 1,158.60 1,150.01 1,191.13 1,144.46 1,141.60 3.44% 2014 1,031.70 1,087.94 1,119.93 1,042.91 1,065.67 1,098.37 1,099.77 1,123.07 1,137.47 1,139.18 1,166.66 1,130.11 1,103.61 0.35% 2013 1,096.67 1,118.06 1,154.52 1,040.52 1,093.29 1,115.48 1,102.26 1,124.83 1,099.62 1,103.68 1,116.60 1,032.07 1,099.72 1.40% 2012 1,069.13 1,115.75 1,116.60 1,012.94 1,065.71 1,079.80 1,089.18 1,079.71 1,080.32 1,080.88 1,136.63 1,089.37 1,084.58 5.83% %YoY 17/16 3.41% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YoY

(Thousand trips / Day)

2014 2017 2012 2013 2015 2016

SOE is operated in August 22, 2016

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Total Toll Revenue

17.00 19.00 21.00 23.00 25.00 27.00 29.00

2017 26.33 26.33 2016 24.23 25.02 25.84 23.48 23.96 24.97 24.52 25.92 26.82 25.97 27.32 26.81 25.41 5.22% 2015 23.48 24.86 24.87 22.71 23.58 23.93 24.01 24.03 24.45 24.31 25.26 24.31 24.14 3.85% 2014 21.73 22.89 23.57 21.95 22.43 23.05 23.12 23.69 23.95 24.03 24.65 23.94 23.25 5.56% 2013 21.37 21.83 22.54 20.36 21.33 21.79 21.56 22.02 23.03 23.10 23.58 21.80 22.03 4.28% 2012 20.81 21.64 21.72 19.76 20.68 20.96 21.17 21.05 21.05 21.04 22.24 21.36 21.12 5.45% %YoY 17/16 8.67% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YoY

(Million Baht / Day)

2016

SOE is operated in August 22, 2016

2014 2012 2013 2015 2017

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Expressway : Total Traffic Volume

YoY Jan-17 Jan-16 Change % FES 367,711 371,127

  • 3,416
  • 0.92%

Sector A 224,431 220,641 3,790 1.72% Sector B 98,499 101,969

  • 3,470
  • 3.40%

Urban 690,641 693,737

  • 3,096
  • 0.45%

Sector C 179,702 189,482

  • 9,780
  • 5.16%

Sector D 187,952 182,512 5,440 2.98% SOE* 43,118

  • 43,118

N/A Sub urban 410,772 371,994 38,778 10.42% Total BEM 1,101,413 1,065,731 35,682 3.35% NECL (C+) 79,904 76,673 3,231 4.21% Total BEM+NECL 1,181,317 1,142,404 38,913 3.41% Trips/Day Trips/Day YTD 1M-17 1M-16 Change % FES 367,711 371,127

  • 3,416
  • 0.92%

Sector A 224,431 220,641 3,790 1.72% Sector B 98,499 101,969

  • 3,470
  • 3.40%

Urban 690,641 693,737

  • 3,096
  • 0.45%

Sector C 179,702 189,482

  • 9,780
  • 5.16%

Sector D 187,952 182,512 5,440 2.98% SOE* 43,118

  • 43,118

N/A Sub urban 410,772 371,994 38,778 10.42% Total BEM 1,101,413 1,065,731 35,682 3.35% NECL (C+) 79,904 76,673 3,231 4.21% Total BEM+NECL 1,181,317 1,142,404 38,913 3.41%

SOE is operated on August 22, 2016

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Expressway : Total Traffic Volume

YoY Q4/16 Q4/15 Change % FES 373,453 378,273

  • 4,820
  • 1.27%

Sector A 226,177 222,656 3,521 1.58% Sector B 99,860 102,913

  • 3,053
  • 2.97%

Urban 699,490 703,842

  • 4,352
  • 0.62%

Sector C 188,460 195,170

  • 6,711
  • 3.44%

Sector D 187,077 182,425 4,652 2.55% SOE* 41,861

  • 41,861

N/A Sub urban 417,398 377,595 39,803 10.54% Total BEM 1,116,888 1,081,437 35,451 3.28% NECL (C+) 84,451 80,113 4,337 5.41% Total BEM+NECL 1,201,339 1,161,550 39,788 3.43% Trips/Day Trips/Day

SOE is operated on August 22, 2016

YTD 2016 2015 Change % FES 376,000 374,874 1,126 0.30% Sector A 224,118 221,119 2,999 1.36% Sector B 101,580 101,997

  • 417
  • 0.41%

Urban 701,698 697,990 3,708 0.53% Sector C 193,069 189,170 3,899 2.06% Sector D 186,638 179,373 7,265 4.05% SOE* 37,788

  • 37,788

N/A Sub urban 417,495 368,543 48,952 13.28% Total BEM 1,119,193 1,066,533 52,660 4.94% NECL (C+) 82,128 75,078 7,050 9.39% Total BEM+NECL 1,201,321 1,141,611 59,710 5.23%

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Expressway : Total Toll Revenue

YoY Jan-17 Jan-16 Change % FES 7,454,790 7,530,063

  • 75,273
  • 1.00%

Sector A 4,416,417 4,328,813 87,604 2.02% Sector B 1,986,591 2,057,284

  • 70,693
  • 3.44%

Urban 13,857,798 13,916,160

  • 58,362
  • 0.42%

Sector C 2,410,403 2,552,093

  • 141,690
  • 5.55%

Sector D 4,474,528 4,354,842 119,686 2.75% SOE* 2,022,766

  • 2,022,766

N/A Sub urban 8,907,697 6,906,935 2,000,762 28.97% Total BEM 22,765,495 20,823,095 1,942,400 9.33% NECL (C+) 3,562,371 3,404,852 157,519 4.63% Total BEM+NECL 26,327,866 24,227,947 2,099,920 8.67% YTD 1M-17 1M-16 Change % FES 7,454,790 7,530,063

  • 75,273
  • 1.00%

Sector A 4,416,417 4,328,813 87,604 2.02% Sector B 1,986,591 2,057,284

  • 70,693
  • 3.44%

Urban 13,857,798 13,916,160

  • 58,362
  • 0.42%

Sector C 2,410,403 2,552,093

  • 141,690
  • 5.55%

Sector D 4,474,528 4,354,842 119,686 2.75% SOE* 2,022,766

  • 2,022,766

N/A Sub urban 8,907,697 6,906,935 2,000,762 28.97% Total BEM 22,765,495 20,823,095 1,942,400 9.33% NECL (C+) 3,562,371 3,404,852 157,519 4.63% Total BEM+NECL 26,327,866 24,227,947 2,099,920 8.67% (Baht / Day) (Baht / Day)

SOE is operated on August 22, 2016

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Expressway : Total Toll Revenue

YoY Q4/16 Q4/15 Change % FES 7,575,648 7,675,999

  • 100,351
  • 1.31%

Sector A 4,446,143 4,367,102 79,041 1.81% Sector B 2,011,267 2,075,502

  • 64,235
  • 3.09%

Urban 14,033,058 14,118,603

  • 85,545
  • 0.61%

Sector C 2,530,253 2,625,797

  • 95,544
  • 3.64%

Sector D 4,442,169 4,348,804 93,365 2.15% SOE* 1,964,533

  • 1,964,533

N/A Sub urban 8,936,955 6,974,601 1,962,354 28.14% Total BEM 22,970,013 21,093,203 1,876,809 8.90% NECL (C+) 3,721,545 3,525,445 196,100 5.56% Total BEM+NECL 26,691,558 24,618,649 2,072,909 8.42% (Baht / Day) (Baht / Day)

SOE is operated on August 22, 2016

YTD 2016 2015 Change % FES 7,629,770 7,611,277 18,493 0.24% Sector A 4,400,068 4,340,094 59,974 1.38% Sector B 2,048,819 2,057,471

  • 8,652
  • 0.42%

Urban 14,078,657 14,008,842 69,815 0.50% Sector C 2,597,049 2,542,910 54,139 2.13% Sector D 4,449,309 4,282,251 167,058 3.90% SOE* 1,773,210

  • 1,773,210

N/A Sub urban 8,819,568 6,825,161 1,994,407 29.22% Total BEM 22,898,225 20,834,003 2,064,222 9.91% NECL (C+) 3,614,291 3,310,380 303,911 9.18% Total BEM+NECL 26,512,516 24,144,383 2,368,133 9.81%

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Mass Rapid Transit Master Plan 12 Lines Distance (kms.) Stations Red Line (Thammasat-Mahachai) 80.8 36 Light Red Line (Salaya-Hua Mak) 58.5 22 Airport Rail Link Existing Line (Phaya Thai-Suvarnabhumi Airport) Extension Line (Phaya Thai-Bang Sue) 28.5 7.9 8 2 Green Line Existing Line (Mo Chit-On Nut- Bearing) North Extension Line (Mo Chit-Lumlukka) South Extension Line (Bearing- Samut Prakan) 21.8 24.9 19.8 22 20 13 Light Green Line Existing Line (National Stadium-Saphan Taksin-Bang Wa) Extension Line (National Stadium-Yotse) 14.5 1 13 1 Blue Line Existing Line (Bang Sue-Hua Lamphong) Extension Line (Bang Sue-Tha Pra-Hua Lamphong-Bang Khae) Extension Line (Bang Khae-Phuttamonthon Sai 4) 20 27 8 18 20 4 Purple Line Existing Line (Bang Yai-Tao Poon) Extension Line (Tao Poon – Rat Burana) 23 19.8 16 16 Orange Line (Talingchan-Min Buri) 37.5 27 Pink Line (Kae Rai-Min Buri) 36 24 Yellow Line (Lat Phrao-Samrong) 30.4 21 Grey Line (Watcharaphon- Rama IX bridge) 26 21 Light Blue Line (Din Deang- Sathorn) 9.5 9 Total (kms.) 471.9

  • At present, there are 5 mass transit systems operated.
  • BEM is granted two concession agreements to construct and operate
  • Initial Blue Line (IBL) with the rights to operate commercial development, ending in 2029, and
  • Purple Line is operated on August 6, 2016
  • BEM is expecting a negotiation with MRTA on terms of concession agreement to be an operator of Blue Line Extension (BLE).
  • Substantial investment opportunities in new mass transit system due to concrete progress in project development supported by various

authorities i.e. MRTA, SRT, and BMA

: BEM is the operator

Source : http://www.otp.go.th, www.mrta.co.th , www.srtet.co.th

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Metro Map

Projects Distance kms. Stations Trains Cars Status Operated (Year) Operator Blue Line (Bang Sue-Hua Lamphong) 20 18 19 57 Operating 2004 BEM Purple Line (Bang Yai-Tao Poon) 23 16 21 63 Operating Aug 6, 2016 BEM Airport Rail Link (Phaya Thai-Suvarnabhumi Airport) 28.5 8 9

  • Operating

2010 SRT Green Line

  • Mochit - Baring

21.8 22 52 208 Operating 1999 BTS Light Green Line

  • National Stadium-Saphan Taksin-Bang Wa

14.5 13 Total (kms.) 107.8

Existing Metro Lines 6 more Lines under construction

Project Distance kms. Stations Trains Cars Status Operated (Year) Operator Blue Line (Extension) Bang Sue-Tha Pra Hua Lamphong-Bang Khae 27 20 30 90 Constructing 2020 BEM (to be negotiated) Red Line (Bang Sue-Rang Sit) 26.3 8

  • Constructing

2021 SRT Green Line (Khu Khot – Samut Prakan) 44.7 33

  • Constructing

2021 BTS Pink Line (Kae Rai – Min Buri) 36 24

  • Constructing

2020 BTS Yellow Line (Lat Phrao –Samrong) 30.4 21

  • Constructing

2020 BTS Orange Line (TCC - Minburi) 23 17

  • Constructing

2022

  • Total (kms.)

187.4

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20 20 20 20 20 23 23 23 23 27 27 27 23 23 20

10 2015 2016 2018-20F 2021-22F 2022-24F

BEM’s rail service by distance (kms.)

Blue line (IBL) Purple line Blue line-extensions 1 Orange line Purple line-extensions 1 Blue line-extension 2 Future Expected

1,525 1,646 1,979 2,106 2,248 2,374 2,115 211 221 253 272 291 300 313

WD Ridership (‘000)

Highlights of Mass Transit Business

Farebox Revenues & Ridership

High Potential Growth

  • Operated
  • PPP Gross Cost
  • Services Revenue

(Cost + 10.5% margin)

  • COD : Aug 6, 2016
  • Concession period 30 years

(2013 - 2043)

Purple Line

Bang Yai-Bang Sue

  • To be negotiated with

MRTA

  • Operational within 2019

Blue Line Extension

Hua Lamphong – Bang Khae Bang Sue – Tha Phra Other projects under construction Orange Line Yellow Line Pink Line

Farebox revenues & Ridership  Organic ridership growth 7-10%  Fares revision every 2 years  Additional revenues from Purple line operation in 2016  Passengers fed to Initial Blue Line Expected Service by Distance  Purple line operated on Aug 6, 2016  Blue line extension partially

  • perated in 2018 (full in 2019)

Initial Blue Line

Hua Lamphong – Bang Sue

  • Operated
  • PPP Net Cost
  • Income source : Ridership
  • COD : July 3, 2004
  • Concession period 25 years

(2004 - 2029)

Blue Line Extension Green Line

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Metro : Average Daily Ridership : Initial Blue Line (IBL)

160.00 180.00 200.00 220.00 240.00 260.00 280.00 300.00 320.00

2017 273 273 2016 256 278 283 248 245 279 269 286 294 291 290 264 274 5.12% 2015 245 269 269 238 239 269 266 261 275 277 273 245 260 2.79% 2014 278 293 262 233 234 247 243 241 256 264 253 237 253 6.94% 2013 222 239 239 216 225 242 238 245 243 251 257 225 237 7.53% 2012 208 223 230 194 208 224 231 222 227 233 236 206 220 16.19% % YOY 17/16 7.01% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. % YOY (Thousand trips / Day)

2014 2012 2013 2015 2016 2017

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Metro : Average Daily Revenue : Initial Blue Line (IBL)

3.00 4.00 5.00 6.00 7.00 8.00

2017 6.69 6.69 2016 6.42 6.95 6.93 6.24 6.17 6.85 6.69 7.1 7.18 7.37 6.94 6.40 6.80 5.10% 2015 6.19 6.74 6.71 6.02 5.91 6.53 6.33 6.47 6.84 6.93 6.75 5.94 6.44 5.20% 2014 6.75 7.07 6.34 5.73 5.74 5.95 5.86 5.85 6.16 6.37 6.05 5.67 6.12 6.68% 2013 5.39 5.79 5.75 5.33 5.49 5.86 5.78 5.91 5.92 6.10 6.17 5.41 5.74 8.92% 2012 4.95 5.24 5.37 4.77 4.93 6.02 5.29 5.20 5.30 5.65 5.60 4.91 5.27 16.63% %YoY 17/16 4.18% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Avg. %YoY (Million Baht / Day)

2014 2012 2013 2015 2016 2017

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Metro : Average Daily Ridership & Revenue: Initial Blue Line (IBL)

Thousand trips / Day

YoY Jan-17 Jan-16 Change % IBL

273,558 255,647 17,911 7.01%

YoY 1M-17 1M-16 Change % IBL

273,558 255,647 17,911 7.01%

YoY Q4/16 Q4/15 Change % IBL

281,861 264,751 17,110 6.46%

YoY 2016 2015 Change % IBL

273,656 260,325 13,331 5.12% Thousand trips / Day Million Baht / Day

YoY Jan-17 Jan-16 Change % IBL

6,691,758 6,423,220 268,538 4.18%

YoY 1M-17 1M-16 Change % IBL

6,691,758 6,423,220 268,538 4.18%

YoY Q4/16 Q4/15 Change % IBL

6,905,536 6,535,069 370,467 5.67%

YoY 2016 2015 Change % IBL

6,769,606 6,441,109 328,496 5.10% Million Baht / Day

Ridership Fare Box Revenue

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Overview of Commercial Development Business

Advertising Telecommunications Retail Spaces

  • Retail Spaces in 11 MRT

Stations & 1 Park & Ride Building

  • Current Retail Spaces

: 5 stations

  • Coming up

: 2 stations

  • Mobile phone Network
  • High Speed Internet
  • Wi-Fi Services
  • Telecommunications Signal

System (2G, 3G, 4G)

  • Future Internet Technology

18 Stations & 19 Trains

  • Static Media
  • Digital Media
  • Creative & Innovative

Design New Media : DIGITAL

  • 119 Screens in 18 stations
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53% 29% 18%

Revenue Structure

(As of 2015)

Advertising Telecommunications Retail Spaces

451 501 549 417

2013 2014 2015 9M/2016

Commercial Development

CD Revenues

Unit: MB.

Highlights of Commercial Development Business More rooms to grow

Advertising  Revenue increased by eyeballs  Rooms to grow outside MRT CD revenues  CAGR = 10.33% (2013-2015)  New CD expected by 2016 Telecommuni cations  Steady CF  Long term contracts Retails  Rental rates increased by ridership's traffic  Open more locations

  • Rights to Operate Commercial

Development (To be negotiated with MRTA) Blue Line Extension Hua Lamphong – Bang Khae Bang Sue – Tha Phra

Future Projects

  • Rights to Operate Commercial

Development (To be negotiated with MRTA) Purple Line Bang Yai-Bang Sue CD projects outside MRT

  • Advertising outside MRT, ie.

Expressway.

  • Retails business
  • Telecommunications
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BEM : Financial Highlights

Consolidated (Unit : MB.) 2015 2014 %CHANGE Revenue :- Toll revenue 8,815 8,485 3.89% Fare box revenue 2,374 2,248 5.60% Commercial development revenue 549 501 9.58% Others 1,367 650 110.31% Total Revenue 13,105 11,884 10.27% Expense :- Costs of toll (1,239) (1,102) 12.43% Costs of fare box (1,445) (1,370) 5.47% Costs of commercial development (210) (186) 12.90% Amortization – expressway (3,423) (3,327) 2.89% Amortization – IBL (778) (573) 35.78% Selling (79) (54) 46.30% Administration (1,036) (869) 19.22% Profit before share of profit from investments in associates, financial cost and income tax expenses 4,895 4,403 11.17% Share of profit (loss) from investments in associates 461 546

  • 15.57%

EBIT 5,356 4,949 8.22% Financial Cost (1,934) (1,437) 34.59% Income tax expenses (721) (702) 2.71% Profit for the Period 2,701 2,810

  • 3.88%

Profit/(Loss) Attributable to Non-controlling interests 51 65

  • 21.54%

Profit Attributable to Equity Holders of the Company 2,650 2,745

  • 3.46%

EPS (Baht) 0.173 0.180

  • 3.46%
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BEM : Financial Highlights

Consolidated (Unit : MB.)

Q3/2016 Q3/2015 %CHANGE 9M/2016 9M/2015 %CHANGE

Revenue :- Expressway Business Revenue 2,369 2,222 6.62% 6,844 6,550 4.49% Rail Business Revenue 916 601 52.41% 2,115 1,773 19.29% Commercial Development Revenue 147 130 13.08% 417 409 1.96% Others 33 1,281

  • 97.42%

91 1,340

  • 93.21%

Total Revenue 3,465 4,234

  • 18.16%

9,467 10,072

  • 6.01%

Expense :- Costs of Expressway Business (343) (299) 14.72% (935) (858) 8.97% Costs of Rail Business (490) (373) 31.37% (1,174) (1,085) 8.20% Costs of commercial development (49) (46) 6.52% (145) (161)

  • 9.94%

Amortization – expressway (904) (862) 4.87% (2,619) (2,543) 2.99% Amortization – IBL (221) (201) 9.95% (618) (578) 6.92 Selling (39) (16) 143.75% (70) (52) 34.62% Administration (250) (222) 12.61% (694) (692) 0.29% Profit before share of profit from investments in associates, financial cost and income tax expenses 1,166 2,215

  • 47.36%

23,210 4,100

  • 21.71%

Share of profit (loss) from investments in associates 113 87 29.89%

307 344

  • 10.76%

EBIT 1,279 2,302

  • 44.44%

3,517 4,445

  • 20.88%

Financial Cost (296) (358)

  • 17.32%

(1,061) (1,108)

  • 4.24%

Income tax expenses (171) (413)

  • 58.60%

(436) (699)

  • 37.63%

Profit for the Period 811 1,531

  • 47.03%

2,020 2,637

  • 23.40%

Profit/(Loss) Attributable to Non-controlling interests 3 12

  • 75.00%

6 44

  • 86.36%

Profit Attributable to Equity Holders of the Company 808 1,520

  • 46.84%

2,014 2,593

  • 22.33%

EPS (Baht) DPS (Baht) 0.05 0.05 0.1

  • 46.84%
  • 0.13

0.05 0.17

  • 22.33%
  • BEM : Financial Ratio

2015 Q3/2016 2015 Q3/2016

Net Profit Margin 20.22% 23.31% ROE 9.76% 7.12% ROA 3.65% 2.62% D/E 1.68 1.76

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Funding Structure

Outstanding As of Jan 31,2017 (MB.) %Portion Interest Charged (%) Fixed Rate Loan 12,804 27.24% 3.0269% Debenture 23,200 49.36% 3.0930% Total 36,004 76.60% 3.0695% Floating Rate Loan 11,000 23.40% 3.5930% Total 11,000 23.40% 3.5930% Grand Total 47,004 100.00% 3.1920%

(MB.)

Remark: Subject to change

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Repayment Schedule

MB.

Year Repayment Total Loan Debenture 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 5,154 3,083 3,732 1,631 2,474 1,117 1,317 1,317 1,382 1,537 1,060

  • 5,000

2,500 1,615

  • 2,000
  • 2,500

3,335 3,000 3,250

  • 5,154

3,083 8,732 4,131 4,089 1,117 3,317 1,317 3,882 4,872 4,060 3,250

  • Total

23,804 23,200 47,004

(MB.)

Remark: This table includes undrawdown amount of remaining facilities (Subject to change)

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Investment Project

TTW TTW Plc. CKP (CK Power Plc.) BEM owns 19.40% in CKP (3,223 MB.) * Stated at cost

Total registered 9,240 MB./Paid up capital : 7,370 MB. Effective Equity MW : 810 MW

BEM also owns CKP 4.92% indirectly through TTW

XPCL Xayaburi Power Co., Ltd. SEAN

Southeast Asia Energy Co., Ltd.

BIC

Bangpa-In Cogeneration Co., Ltd.

BKC

Bangkhenchai Co., Ltd.

CRS

Chiangrai Solar Co., Ltd.

NRS

Nakorn Rachasima Solar Co., Ltd.

XPCL

Xayaburi Power Co., Ltd

Investment Type

TTW : BOO PTW : BOOT

TWO : Operational Agreement

Holding Company (75% in NN2) BOOT PPA

( 615 MW.)

BOO PPA

BIC1: 117.5 MW. BIC2: 120 MW.

BOO PPA

(8 MW.)

BOO PPA

(8 MW.)

BOO PPA

(6 MW.) BOOT Concession (1,285 MW.)

BOOT Concession (1,285 MW.)

% of Possession as of September 30, 2016

19.45%

(4,277 MB.)

* Stated at cost

56% 65% 100% 30% 30% 30% 7.50%

(1,156 MB.)

* Stated at cost

Concession date

2004 2013 BIC1: 2013 BIC2: 2017 2012 2013 2012 N/A N/A

Concession period

30 years 25 years 25 years 5 years + renewal

  • ption

5 years + renewal

  • ption

5 years + renewal

  • ption

31 years 31 years

Customer

PWA, Bangpa-In Industrial Estate EGAT EGAT, Industrial customers PEA PEA PEA EGAT/EDL EGAT/EDL

BOI Privilege

  • Tax Exempt

from Laos PDR Government

8 years 8 years 8 years 8 years

Tax Exempt from Laos PDR Government

Tax Exempt from Laos PDR Government

Registered capital (MB.)

3,990 6,607 2,705 234 292 222 26,861 26,861

Paid-up Capital (MB.)

3,990 6,607 1,707 234 277 188 15,414 15,414

Project Investment

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Disclaimer

The information in this presentation has been prepared by Bangkok Expressway and Metro Public Company Limited (BEM) and is general background information about BEM’s activities current as at date of this presentation. This presentation is not intended to provide the basis of any investment decision, nor to substitute your own analysis and investigation and should not be considered as a recommendation to any recipient of this presentation. Before acting on any information you should consider the appropriateness of the information having regard to these matters, any relevant offer document and in particular, you should seek independent financial advice. All securities or instrument transactions 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 a promise or representation of BEM as to the future.

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Thank you

For further inquiry www.bemplc.co.th Email : ir@bemplc.co.th