AAPICO HITECH PLC [AH] Presentation for FS 2018 financial statements - - PowerPoint PPT Presentation

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AAPICO HITECH PLC [AH] Presentation for FS 2018 financial statements - - PowerPoint PPT Presentation

AAPICO HITECH PLC [AH] Presentation for FS 2018 financial statements Opportunity Day 28 March 2019 Disclaimer The information contained in this material has been prepared by AAPICO Hitech PLC (AH or AAPICO) solely for information


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SLIDE 1

AAPICO HITECH PLC [AH]

Presentation for FS 2018 financial statements

Opportunity Day 28 March 2019

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SLIDE 2

Disclaimer

2

The information contained in this material has been prepared by AAPICO Hitech PLC (“AH” or “AAPICO”) solely for information purpose and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for shares in AAPICO. Some statements made in this material are forward-looking statements. These statements typically contain words such as “expects” and “anticipates” and words of similar import. Any statement in these materials that are not a statement of historical fact is a forward-looking statement that involves various risks and uncertainties. These include statements with respect to our corporate plans, strategies, and beliefs. These statements are based on our management 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. None of the future projections, expectations, estimates or prospects in this presentation should be taken as forecasts or promises nor should they be taken as implying any indication, assurance or guarantee that the assumptions on which such future projections, expectations, estimates or prospects have been prepared are correct and exhaustive or, in the case of the assumptions, fully stated in the presentation. We assume no

  • bligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors

affecting these statements. Accordingly, no representation or warranty, express or implied, is made or given by or on behalf of AAPICO or any of its shareholders, directors,

  • fficers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this
  • presentation. None of AAPICO nor any of its shareholders, directors, officers or employees accepts any liability (in negligence or otherwise)

whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith. Individual situations and local practices and standards may vary, so viewers and others utilizing information contained within a presentation are free to adopt differing standards and approaches as they see fit. Products and names mentioned in materials or presentations are the property of their respective owners and the mention of them does not constitute an endorsement by AAPICO. The information contained in this presentation is

  • nly current as of the date its date. In giving this presentation, neither AAPICO nor its respective advisers and/or agents undertake any obligation

to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. You must make your own assessment of the relevance, accuracy, and adequacy

  • f the information contained in this presentation and must make such independent investigation as you may consider necessary or appropriate

for such purpose. The presentation should not be construed as legal, tax, investment or other advise. ir@aapico.com | +66-(0)-2613-1504

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SLIDE 3

Agenda

3

1. Company Information 2. Automotive Industry Updates 3. Financial Performance 4. Strategy & Direction

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SLIDE 4

AAPICO Hitech PLC

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SLIDE 5

AAPICO HITECH PLC [AH]

5

AAPICO HITECH PUBLIC COMPANY LIMITED

  • A leading OEM automotive parts manufacturer in

Thailand with global operations through strategic partnerships in India, Portugal, USA, and China.

  • Core businesses: OEM Auto Parts, Jigs and Dies,

Car Dealerships and Car Navigation.

  • Main locations: Thailand, Malaysia and China.
  • Registered and paid-up capital of Baht 322.58

million, comprising of 322,583,844 ordinary shares at par value of Baht 1 each.

  • Major shareholders are Yeap Swee Chuan and

Family holding 45.52% of total capital.

Index : SET / THSI Industry/Sector : Auto Current price : Baht 23.20* 52 weeks range : Baht 21.50 – 40.00 Market Cap : Baht 7,484 million* P/E (YTD) : 5.32* P/BV : 1.00* Dividend yield** : 5.17% TRIS / CG Rating : BBB+ /

* Data as of March 1, 2019 ** Dividend yield is calculated based on current share price

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SLIDE 6

AAPICO’s Vision

6

Where do we want to go? How do we want people to remember us?

MANUFACTURING RESEARCH & DEVELOPMENT CAR RETAILING

TO BECOME A LEAN, GREEN, HAPPY, DIGITAL WORLD-CLASS CORPORATION

  • S : Safety
  • Q : Quality
  • C : Cost
  • D : Delivery
  • E : Engineering
  • M : Management

(Focus Digital)

  • Teamwork
  • Look at problems as
  • pportunities
  • Love Family, Company

and Country

  • Loyalty and Honesty
  • Mutual Respect
  • Profitability
  • Reasonable Dividend
  • Corporate Social

Responsibility

Happy Employees Happy Shareholders Happy Public Happy Customers AAPICO Key Fundamental Values

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SLIDE 7

Core Pillars of AAPICO Business

7

Auto Part Manufacture Car Dealerships Technology

IOT Connectivity & Mobility Business

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SLIDE 8

Business Segments

8

Manufacture of Auto Parts

(Thailand & China)

Car Dealerships

(Thailand & Malaysia)

Technology

(Thailand) ~64% of total revenue ~36% of total revenue <1% of total revenue

Thailand Malaysia

Stamping & Assemblies Forging & Machining Plastic Jigs and Dies

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SLIDE 9

Countries of Operations

9

Thailand 73% Malaysia 23% China 4%

2018

Sales by Country

CHINA

Kunshan Production: Connecting rods and Copper Forging

MALAYSIA

Kajang & Petaling Jaya Car dealers: Honda car

THAILAND

Ayutthaya, Chonburi, Rayong, Samutprakarn

Hitech Industrial Estate

Production: Stamping parts and Stamping Dies & Jigs

Amata Nakorn Industrial Estate

Production: Stamping & Chassis Frames and Forging & Machining Parts

Bangpli Industrial Estate

Production: Plastic Parts

Amata City Industrial Estate

Production: Stamping Parts Plastic Washers & Fuel Tanks

Mitsubishi Dealers

Navanakorn & Ramindra

Ford Dealers

Samutprakarn & Ladprao

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SLIDE 10

Major OEM Customers

10

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SLIDE 11

Our Partners

11

Joint Venture

Strategic Partner Technical Partner

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SLIDE 12

Awards and Achievements

12

AAPICO Group has been widely recognized for its excellence in product quality, efficiency in its production processes, and continuous improvements over the years. The Company has repeatedly received awards from its customers and partners in recognition for excellent quality and delivery and contribution to growth.

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SLIDE 13

Automotive Industry Updates

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SLIDE 14

Thailand Car Production Volume

14

276 264 302 288 310 295 313 332 200 192 214 213 220 212 224 221

486 465 527 511 540 517 548 564

  • 100

200 300 400 500 600 700

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 Pick-Up/PPV Passenger Others Domestic Sales Export Sales

1,130 1,250 827 885

1,989 2,168 2017 2018

Total Car Production by Quarter

Jan-Dec Car Production

‘000 Units

+9.0% yoy +10.3% yoy

Source: The Federation of Thai Industry (Automotive Industry)

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SLIDE 15

425 512 346 400

101 130

872 1,042 2017 2018

Thailand Domestic Car Sales Volume

15

Domestic Car Sales by Quarter

Jan-Dec Domestic Sales

107 94 102 121 118 119 123 151 80 81 83 102 90 100 101 109

23 24 25 28 29 33 34 35

210 199 211 251 237 252 257 295

  • 100

200 300 400

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 1-Ton Pick-Up/PPV Passenger cars Other vehicles

‘000 Units

+17.6% +19.5% yoy

Source: The Federation of Thai Industry (Automotive Industry)

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SLIDE 16

Thailand Export Volume

16

Export Volume by Quarter

Jan-Dec Export Volume

2017 2018 284 252 314 290 295 267 297 282

  • 100

200 300 400

1Q17 2Q17 3Q17 4Q17 1Q18 2Q18 3Q18 4Q18 Export Volume

‘000 Units

  • 2.7%

yoy +0.08% yoy

Source: The Federation of Thai Industry (Automotive Industry)

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SLIDE 17

Thailand Total Industry Volume

17

#

Maker Q4 January – December

2017 2018 % 2017 2018 %

1 Toyota

74,265 90,782 +22.2% 239,551 314,498 +31.3%

2 Isuzu

41,746 52,196 +25.0% 160,550 177,864 +10.8%

3 Honda

34,497 35,375 +2.5% 127,768 128,290 +0.4%

4 Mitsubishi

20,962 23,303 +11.2% 69,737 84,560 +21.3%

5 Nissan

17,105 21,304 +24.5% 59,709 72,394 +21.2%

6 Mazda

14,734 18,720 +27.1% 51,355 70,475 +37.2%

7 Ford

16,648 16,457 -1.1% 56,156 66,064 +17.6%

14 Hyundai

1,453 1,718 +18.2% 4,917 5,264 .+7.1%

Others

29,525 35,300 +19.6% 101,907 122,330 +20.0%

Total

250,935 295,155 +17.6% 871,650 1,041,739 +19.5%

Source: Toyota

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SLIDE 18

Malaysia Total Industry Volume

18

#

Maker Q4 January – December

2017 2018 % 2017 2018 %

1 Perodua

53,307 59,040 +10.8% 204,887 227,243 +10.9%

2

Honda

30,769 22,367 -27.3% 109,511 102,282

  • 6.6%

3 Toyota

20,202 12,902 -36.1% 69,492 65,551

  • 5.7%

4 Proton

14,695 15,511 +5.6% 70,991 64,744

  • 8.8%

5 Nissan

6,395 7,877 +23.2% 27,154 28,610 +5.4%

6 Mazda

2,728 4,992 +83.0% 9,730 16,038 +64.8%

7 Mercedes

3,373 3,002 -11.0% 12,344 13,463 +9.1%

14 BMW

2,985 3,027 +1.4% 10,618 12,008 +13.1%

Others

16,500 15,025 -8.9% 61,898 68,775 +11.1%

Total

150,954 143,743 -4.8% 576,625 598,714 +3.8%

Source: MAA

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SLIDE 19

Financial Performance

2018 vs. 2017

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SLIDE 20

Financial Highlights

20

  • Revenue growth driven by higher auto parts sales

and increased interest income.

  • Gross profit increased with gross profit margin

improved to 7.6%, driven by higher sales, improved efficiency and on-going cost reduction.

  • SG&A expenses decreased due to cost control and

lower unrealized FX loss.

  • Tax expenses decreased due to the recognition of

deferred tax assets.

  • Core profit from operations significantly increased.

Despite lower profit from associates due to SGAH, net profit continually improved. Net profit margin improved from 7.0% to 7.3% of sales.

Full Year Key Financials

In Million Baht

Jan-Dec 2017 Jan-Dec 2018 Revenues

Growth%

16,642

+9.9%

17,737

+6.6%

Gross Profit

GP Margin (%)

998

6.3%

1,274

7.6%

SG&A 928 868 Interest & Tax 180 167 Core profit

Profit Margin (%)

670

4.0%

1,195

6.7%

Associate 488 104 Net Profit

NP Margin (%)

1,158

7.0%

1,299

7.3%

D/E (x) 0.69 0.80

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SLIDE 21

16,642 17,737

2017 2018

Jan-Dec Revenue

AH Group Revenue increased yoy

21 3,946 3,903 4,284 4,509 4,496 4,283 4,416 4,576

3,000 3,500 4,000 4,500 5,000 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Total Revenues by quarter

Sales Other income Interest income

  • ne-time gains
  • FY2018 Revenue grew 6.6% yoy, driven by increased sales in

automotive parts business and increased interest income from loan to SGAH.

THB million

+6.6% yoy

Auto parts 64% Car dealers 36% Technology 0%

2018

+1.5% yoy

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SLIDE 22

Auto Parts: Sales & EBIT increased

22

2,470 2,286 2,511 2,432 2,685 2,473 2,582 2,901

8.3% 4.9% 3.5% 5.6% 7.8% 9.6% 7.3% 10.9%

  • 1,000

2,000 3,000 4,000 5,000 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Sales and EBIT by quarter

Thailand China EBIT% 9,699 10,641 5.6% 9.4%

2017 2018

Jan-Dec Sales & EBIT

THB million

+9.7% yoy

TH 93% CN 7%

2018

  • FY2018 sales growth of 9.7% was driven by higher sales in both

Thailand and China. EBIT margin improved yoy, from 5.6% to 9.4% of sales, attributable to improved efficiency and on-going cost reduction, as well as lower unrealized FX loss.

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SLIDE 23

Car Dealers: Sales & EBIT improved

23

1,355 1,340 1,539 1,834 1,578 1,528 1,587 1,388

1.1% 1.3% 1.2% 1.3% 1.3% 1.5% 1.5% 1.5%

  • 1,000

2,000 3,000 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Sales and EBIT by quarter

Thailand Malaysia EBIT% 6,068 6,081 1.3% 1.4%

2017 2018

Jan-Dec Sales & EBIT

THB million

+0.2% yoy TH 37% MY 63% 0%

2018

  • FY2018 Sales grew by 0.2% yoy. Sale increases in Thailand were

partly offset by lower Malaysian car sales for Honda. EBIT margin improved yoy from 1.3% to 1.4% of sales.

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SLIDE 24

AH Group Strong Earnings increased

24 321 451 339 396 461 512 468 560

  • 200

400 600 800 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Unit: THB Million

EBIT Depreciation 1,506 2,001

2017 2018

EBIT Depreciation 3.9% 7.5% 4.3% 5.5% 6.7% 8.0% 6.9% 10.0% 8.1% 11.6% 7.9% 8.8% 10.3% 11.9% 10.6% 12.2% 0% 5% 10% 15%

Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Unit: as % of revenue

EBIT% EBITDA% 5.3% 7.9% 9.0% 11.3%

2017 2018

EBIT% EBITDA% 32.9% yoy

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SLIDE 25

Strong Profit increases offset SGAH loss

25 224 315 243 376 397 305 302 295

(200) (100)

  • 100

200 300 400 500 600 Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Unit: THB Million

Profit to equity holders from operations Associate income 1,158 1,299

2017 2018

Operations Associate 5.7% 8.1% 5.7% 8.3% 8.8% 7.1% 6.8% 6.4%

0% 5% 10% Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Unit: as % of revenue

Net Profit % 7.0% 7.3%

2017 2018

Net Profit % 12.2% yoy

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SLIDE 26

Financial performance is at good level

26 10.1% 13.0% 14.8% 17.8% 19.5% 18.9% 19.8% 17.7%

0% 10% 20% 30%

Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Return on Equity (ROE)

ROE (In the Quarter) ROE (Seasonally adjusted)

5.5% 6.3% 7.3% 9.1% 10.3% 9.0% 9.2% 8.2%

0% 5% 10% 15%

Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Return on Asset (ROA)

ROA (In the Quarter) ROA (Seasonally adjusted)

6.4 8.1 8.4 9.2 9.1 8.5 8.8 7.7

0.0 4.0 8.0 12.0

Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Interest Coverage Ratio (ICR)

ICR (In the Quarter) ICR (Seasonally adjusted)

2.2 3.2 2.9 2.5 2.1 2.9 2.7 2.8

0.0 2.0 4.0 6.0

Q1/17 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18

Debt to EBITDA

Debt/EBITDA (In the Quarter) Debt/EBITDA (Seasonally adjusted)

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SLIDE 27

Net gearing in line with target

27

  • Net interest-bearing debt to equity ratio as of December 2018 had

increased to 0.80x, compared to 0.69x as end of 2017, and was within the Company’s target of less than 1.00x.

  • Total liabilities net cash (Net debt) to equity ratio as end of December

2018 had increased to 1.18x, which was still within the financial covenant target of less than 2.00x.

ST Loan 9% CPLTD 23% LT Loan 49% LT Bond 19%

Interest-bearing Debt

Interest-bearing debts increased to THB 6.4 billion as

  • f December 2018.

In 2018, the Company’s debts increases of THB 1.4 billion was mainly due to SGAH investment and new projects. 1.07 0.85 0.67 0.55 0.40 0.69 0.60 0.56 0.62 0.80 1.74 1.26 1.07 0.87 0.74 0.99 0.92 0.91 1.01 1.18

0.0 0.5 1.0 1.5 2.0 0.0 2.0 4.0 6.0 8.0 2012 2013 2014 2015 2016 2017 Q1/18 Q2/18 Q3/18 Q4/18 Unit: in THB Billion

Debts Equity D/E (L-C)/E

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SLIDE 28

Strategy & Direction

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SLIDE 29

Thailand Automotive Outlook in 2019

29 0.46 0.58 0.75 0.93 1.13 1.19 1.29 1.39 1.00 1.65 1.46 2.45 2.46 1.88 1.91 1.94 1.99 2.17 2.15

  • 0.5

1.0 1.5 2.0 2.5 3.0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 …. Production Forecast Domestic Export

Unit: Million

Global Financial Crisis Flood First car campaign

Source: The Federation of Thai Industry (Automotive Industry)

Thailand automotive industry expects to maintain production volume at 2.15 million cars, of which 1.05 million cars to be sold locally and 1.1 million cars for export.

  • 0.8%
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SLIDE 30

Stable sales volume with steady growth

30

100 200 300 400 500 Y02 Y03 Y04 Y05 Y06 Y07 Y08 Y09 Y10 Y11 Y12 Y13 Y14 Y15 Y16 Y17 Y18 Y19 Y20 Y21 Y22 Y23 Y24 Y25 Y26 Y27 Y28

Global Financial Crisis Flood First car campaign

Unit: in thousand Previous model Current model New model

Sample of automotive parts sales orders for current and new models

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SLIDE 31

Continued orders going forward

31

Confirmed orders – 5 years for cars and 10-12 years for pick-up truck

ISUZU

D-Max Mu-X

Nissan

Navara Terra

TOYOTA

Hilux Revo Fortuner

FORD

Ranger Rapter Everest

Mitsubishi

Triton Pajero Sport

Honda

City Brio HRV BRV

Toyota

HRV Camry Altis Vios Yaris

Mazda

Mazda 2 CX3 BT-50 PRO

Nissan

Teana Almera Syphy Note March

FORD

Fiesta Focus Eco Sport

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SLIDE 32

1.2 2.0 2.2 2.7 2.8 4.1 4.1 4.8 5.6 9.7 11.2 29.0 Indonesia #17 Thailand #12 France #10 Brazil #9 Spain #8 Mexico #7 S.Korea #6 India #5 Germany #4 Japan #3 USA #2 China #1 Unit : Millions 2017 2016

Global Business Opportunities

32 China 30% Japan 10% India 5%

Thailand 2%

Rest of Asia 8%

Europe 23% America 21% Africa 1%

2017

Source: OICA

Top 10 Motor Vehicle Production Country in 2017

2017 Global Production Volume was 97 million units Major OEM Brands in Thailand Thailand Volume 2 Million

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SLIDE 33

Business Strategy – To be Global

33

CHINA INDIA EUROPE USA JAPAN THAILAND MALAYSIA

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SLIDE 34

Key Milestones

34

Taking steps toward globalization 2017-2018

  • Established strategic

global partnership with Sakthi Group and invested US$100 million for 25.1% stake in Sakthi Global Auto Holding Limited (SGAH).

  • Signed JV MOU with

VINFAST to set up assembly plant in Haiphong, Vietnam for the first 2 models of VINFAST vehicles.

  • Acquired additional

24.89% equity in SGAH.

2013-2016 2008-2012 2005-2007 2002-2004

  • Listed on SET.
  • Acquired a chassis

frame factory from Dana Corporation.

  • Expanded to China.
  • Established strategic

global partnership with Sojitz Corp.

  • Established JV with

Mitsuike Corp.

  • Acquired forging

business from KPN.

  • Established JV with

Minth Corporation.

  • Established JV with

Takagi Seiko.

  • Completed

construction of 3S showroom in Malaysia.

  • New factory in

Kunshan (China) started operation.

  • Established JV with;
  • Lemtech (Taiwan)
  • Edscha (Germany)
  • Sumino (Japan)
  • Sodecia (Portugal)
  • Explored opportunity

in the start-up business.

  • Established AAPICO

Training Center.

  • Issued bond with a

BBB+ credit rating.

  • Achieved 4-star CG

rating.

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SLIDE 35

Partnership with VINFAST

35

AVA

51% 49%

AAPICO Vinfast Auto Parts Co.,

  • Ltd. (AVA) was established on 24

January 2019. Registered capital was VND 465.9 billion. (~USD 20 million) AVA will lease 30,000 m2 plant from VINFAST and install 2 large and 1 small press line with its

  • wn assembly facilities to supply

Body-in-White (BIW) parts to VINFAST main assembly line.

AAPICO-VINFAST Factory Hai Phong, Vietnam

Status: On Track

AAPICO is responsible for the overall management of the project including technology and know-how, plant design, and equipment

  • sizing. Jigs and Dies tooling for VINFAST’s vehicles is expected to be

delivered within Q3 2019.

Project Size Number of Toolings Vendors

1,800

THB Million

714

Dies

287

Jigs

40

TH, KR, MY, CN, JP

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SLIDE 36

Sakthi Global Auto Holding Limited (SGAH)

36 ABT Auto Investments Limited (UK) AAPICO Group (Thailand) Sakthi Global Auto Holdings Limited (“SGAH”) INDIA USA 50.01% 49.99%

SGAH Company Holding Structure

PORTUGAL CHINA

  • A world-class OEM automotive parts

supplier with global manufacturing footprints in India, Portugal, USA and China.

  • No. 1 market leader in knuckles with
  • ver 80% market share in Indian

market.

  • A global leader in aluminum knuckle

and a market leader in China.

  • Consistent quality and timely delivery

to world-class customers i.e. GM, Ford, Suzuki, Renault, VW, Dana, Continental, etc.

  • Strong R&D and testing facilities in USA

and India. Globally competitive.

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SLIDE 37

Synergy with Sakthi Group

37

Product Enlargement

  • AAPICO imported casting products from Sakthi Portugal and

complete machining process in AAPICO for Ford Thailand. Revenue is around THB 150 Million.

  • Sakthi received aluminium casting knuckle order for new

Ford pick up in 2021 for Thailand market. Customer Expansion

  • AAPICO is receiving RFQ for supply to USA via Sakthi

connection in USA.

  • AAPICO has helped Sakthi to open up with Isuzu. Sakthi will

be exporting to Isuzu. Stronger Marketing

  • Synergies in marketing for Ford, GM, and others.
  • Perceive AAPICO - SAKTHI as very positive to handle larger

project globally.

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SLIDE 38

Potential to build a strong customer base

38

Global OEMs SAKTHI AAPICO Potential Strength

Ford Strong Strong Strong GM Strong Weak Strong VW Strong Weak Strong Renault Strong Weak Strong Suzuki Strong Weak Strong Toyota Weak Strong Strong Nissan Fair Strong Strong Isuzu Weak Strong Strong Mazda Weak Strong Strong China Strong Weak Strong Dana Strong Fair Strong Honda Fair Fair Fair Mitsubishi Weak Weak Weak

slide-39
SLIDE 39

Global Manufacturing Footprints

39 Detroit, USA Durango, México Coimbatore/Erode, India Rushan, China Porto, Portugal Thailand Malaysia Singapore Kunshan, China London, UK AAPICO Facilities Sakthi Facilities Other JV partners

Japan Taiwan Germany

New York, USA

slide-40
SLIDE 40

Profitability Trend 2017 – 2019

40

SGAH Profit Liquidity India Portugal USA China

2018

SGAH Profit Liquidity India Portugal USA China

2019

SGAH Profit Liquidity India Portugal USA China

2017

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SLIDE 41

Key focus points

41

1.

Strong operational performance improvement. Revenue and profit is

  • n the upside.

2.

Cash flow from operations continually increased.

3.

Strong financial position with good governance and credit rating.

4.

Good dividend payment. Paid dividend at THB 1.20 per share in 2017 and propose to increase dividend to THB 1.30 per share for year 2018.

5.

Successful to win substantial orders starting end 2019 / early 2020.

6.

New substantial order and expansion into Vietnam.

7.

Global expansion of AAPICO is on the roll.

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SLIDE 42

Guidance for the year 2019

42

Thailand Malaysia China

12,188 3,818 732

Sales by Country

(Unit : Million Baht) 2017 2018 2019

Auto Parts Car Dealers

10,657 6,081

Sales by Segment

(Unit : Million Baht) 2017 2018 2019

Improvements are expected in all core pillars of our businesses.

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SLIDE 43