Airports of Thailand Airports of Thailand Public Company Limited - - PowerPoint PPT Presentation

Airports of Thailand Airports of Thailand Public Company Limited Public Company Limited (AOT) (AOT) Fiscal Year 2006 Fiscal Year 2006

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At a Glance Business Highlights Air Traffic Statistics Airport Capacity Financial Performance

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Agenda

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Investor Relations Section, Email: aotir@airportthai.co.th Tel:(662)535-5900, Fax:(662)535-5909

www.airportthai.co.th

Page 1

Fact & Activities Airports of Thailand PLC

• Listed on Stock Exchange of Thailand in September 2002
• Ownership Structure: Ministry Of Finance – 70%

Free Float – 30%

Suvarnabhumi Airport

• Passenger Terminal Capacity: 45m per year at opening
• Aircraft Gates: 120 parking bays

(51 contact gates and 69 remote gates)

• Runway Capacity: 76 flights per hour

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At a Glance

Business Highlights Business Business Highlights Highlights

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Royal Thai Navy Airport

Sukhothai

Bangkok Airways Airports DCA/MOT Airports AOT Airports

Ubon Ratchathani Buri Ram Nakhon Ratchasima Nakhon Phanom Sakon Nakhorn Roi Et Khon Kaen Udon Thani Loei Phetchabun Phitsanulok Lampang Phrae Nan Mae Hong Son Tak Mae Sot U-Tapao Hua Hin Chumpon Samui Nakhon Si Thammarat Ranong Krabi Trang Pattani Narathiwat Trad Surattani

• Total of 36 airports in Thailand

2 in Bangkok and perimeter (Don Muang and Suvarnabhumi) 34 in provincial areas

• Government owns and operates 33 of 36 airports

Airports of Thailand Public Company Limited

2 in Bangkok and perimeter (Don Muang and

Suvarnabhumi)

4 international airports at regional sites

Department of Civil Aviation (DCA)

26 regional airports

Royal Thai Navy

U-Tapao airport

• Remaining 3 airports (Sukhothai, Samui and Trad)
• wned and operated by Bangkok Airways Company, a

private company

Airport Sector in Thailand Airport Airport Sector in Thailand Sector in Thailand

AOT manages and operates the 6 leading airports in Thailand which account for more than 90% of Thailand’s air traffic.

PHUKET INTERNATIONAL AIRPORT CHIANGRAI INTERNATIONAL AIRPORT CHIANGMAI INTERNATIONAL AIRPORT BANGKOK INTERNATIONAL AIRPORT HATYAI INTERNATIONAL AIRPORT SUVARNABHUMI INTERNATIONAL AIRPORT SUVARNABHUMI INTERNATIONAL AIRPORT

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Travel to Thailand Travel Travel to Thailand to Thailand

Travel to Thailand is dominated by the profitable leisure travel segment and mostly by air

Travel Purposes

Leisure 79.80% Business 11.90% Others 8.30%

Mode of Transport

Air 82.80% Land 15.60% Sea 1.60%

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Air Traffic Statistics Air Traffic Statistics

Air Traffic Statistics

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AIRCRAFT MOVEMENTS - AIRCRAFT MOVEMENTS - ALL AIRPORTS

ALL AIRPORTS

210.8 152.2 154.0 153.0 180.7 193.7 48.1 50.1 37.5 33.7 148.5 115.0 92.0 91.2 92.0 136.7 350.3 330.4 295.7 245.0 246.0 243.4

100 200 300 400 2001 2002 2003 2004 2005 2006 Q4 05 Q4 06

International Domestic

Movements (‘000)

Note : CAGR = cumulative annual growth rate

Total Movement CAGR 7.8% +7.1%

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81.8 87.6

Q4 01 911 NY Q2 02 BALI BOMB Q1 05 TSUNAMI Q2 03 IRAQ WAR, SARS Q2 04 BIRD FLU, SOUTHERN VIOLENCE Q4 06 COUP D’ÉTAT

+1.06% +20.7% +11.7% +6.0%

• 0.4%

AIRCRAFT MOVEMENTS AIRCRAFT MOVEMENTS -

• BY AIRPORTS

BY AIRPORTS

Don Mueang Phuket Chiang Mai Hat Yai Chiang Rai

% CHG (YOY) 278,185 278,185 28,991 28,991 24,469 24,469 10,532 10,532 5,659 5,659 (Movements) (Movements) 9 2,518 2,518

4.93 8.16 9.42 5.39

• 14.86

Suvarnabhumi

(From Sep 28th - Sep 30th, 2006)

PASSENGER PASSENGER MOVEMENTS - MOVEMENTS - ALL AIRPORTS

ALL AIRPORTS

25.2 25.6 24.2 29.1 29.9 33.1 13.1 12.5 12.1 16.0 18.7 8.3 7.8 4.5 4.1 17.4

10 20 30 40 50 60 2001 2002 2003 2004 2005 2006 Q4 05 Q4 06

International Domestic

Passengers

(Million)

Note : CAGR = cumulative annual growth rate

38.3 38.1 45.1 36.3 51.8 11.9 47.3 12.8

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Total Movement CAGR 6.6%

Q4 01 911 NY Q2 02 BALI BOMB Q1 05 TSUNAMI Q2 03 IRAQ WAR, SARS Q2 04 BIRD FLU, SOUTHERN VIOLENCE Q4 06 COUP D’ÉTAT

• 0.6%

+ 2 4 . 2 %

• 4.7%

+ 4 . 9 % + 9 . 5 %

+ 6 . 8 %

PASSENGER MOVEMENTS PASSENGER MOVEMENTS -

• BY AIRPORTS

BY AIRPORTS

Don Mueang Phuket Chiang Mai Hat Yai Chiang Rai

% CHG (YOY) 42,042,695 42,042,695 4,467,982 4,467,982 3,078,156 3,078,156 1,293,268 1,293,268 696,492 696,492 (Movements) (Movements) 11 317,736 317,736

28.66 2.20 0.45 2.82

• 8.11

Suvarnabhumi

(From Sep 28 - Sep 30, 2006)

Note: LCCs started operating in Dec 2003 Suvarnabhumi Airport (BKK) started operating on Sep 28th, 2006 Fiscal year begins on Oct 1st and ends September30th BKK : Suvarnabhumi Airport DMK : Don Muang International Airport HKT : Phuket International Airport CNX : Chiang Mai International Airport HYD : Had Yai International Airport CEI : Chiang Rai International Airport

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Low Cost Carrier Low Cost Carriers s ( (LCCs LCCs) ) Traffic Statistics Traffic Statistics –

– Aircraft Movements Aircraft Movements

FY05 FY06 % CHG FY05 FY06 % CHG FY05 FY06 % CHG BKK 312 418

• 730

DMK 12,601 14,331 13.7% 24,607 33,331 35.5% 37,208 47,662 28.1% HKT 1,854 2,075 11.9% 4,507 6,609 46.6% 6,361 8,684 36.5% CNX 241 1,117 363.5% 7,275 9,634 32.4% 7,516 10,751 43.0% HYD 1,394 1,136

• 18.5%

5,136 6,622 28.9% 6,530 7,758 18.8% CEI 2,004 2,766 38.0% 2,004 2,766 38.0% Total 16,090 18,971 17.9% 43,529 59,380 36.4% 59,619 78,351 31.4%

Low Cost Carrier Low Cost Carriers s ( (LCCs LCCs) ) Traffic Statistics Traffic Statistics – – Passenger Movements

Passenger Movements

Note: LCCs started operating in Dec 2003 Fiscal year begins on Oct 1st and ends September 30th

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BKK : Suvarnabhumi Airport DMK : Don Muang International Airport HKT : Phuket International Airport CNX : Chiang Mai International Airport HYD : Had Yai International Airport CEI : Chiang Rai International Airport

FY05 FY06 % CHG FY05 FY06 % CHG FY05 FY06 % CHG BKK 28,834 39,624

• 68,458

DMK 1,249,926 1,647,425 31.8% 3,010,935 3,903,362 29.6% 4,260,861 5,550,787 30.3% HKT 158,666 250,955 58.2% 597,701 841,850 40.8% 756,367 1,092,805 44.5% CNX 27,978 127,604 356.1% 946,559 1,094,438 15.6% 974,537 1,222,042 25.4% HYD 121,797 121,352

• 0.4%

669,259 785,485 17.4% 791,056 906,837 14.6% CEI 249,478 307,499 23.3% 249,478 307,499 23.3% Total 1,558,367 2,176,170 39.6% 5,473,932 6,972,258 27.4% 7,032,299 9,148,428 30.1%

Traffic Impact From Tsunami - Traffic Impact From Tsunami - Phuket

Phuket International Airport International Airport

Note: Fiscal year begins on Oct 1st and ends September 30th

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FY2005 FY2006 % CHG FY2005 FY2006 % CHG FY2005 FY2006 % CHG 1Q 4,502 3,004 (33.3) 5,077 3,857 (24.0) 9,579 6,861 (28.4) 2Q 2,240 3,622 61.7 3,631 4,177 15.0 5,871 7,799 32.8 3Q 2,282 2,730 19.6 3,467 4,176 20.4 5,749 6,906 20.1 4Q 2,444 3,331 36.3 3,160 4,094 29.6 5,604 7,425 32.5 1Q 560,525 368,397 (34.3) 835,587 724,097 (13.3) 1,396,112 1,092,494 (21.7) 2Q 167,843 513,870 206.2 500,936 801,763 60.1 668,779 1,315,633 96.7 3Q 158,398 302,049 90.7 459,747 685,290 49.1 618,145 987,339 59.7 4Q 227,673 359,164 57.8 561,943 713,352 26.9 789,616 1,072,516 35.8 Aircraft Movements Passenger Movements International Domestic Total

42.82% 3.65% 6.18% 10.97% 2.87% 2.52% 30.99%

Year 20 Year 2004 04 Year Year 2005 2005

Aircraft Movements Classified - Aircraft Movements Classified - By Airlines

By Airlines

42.25% 2.69% 4.12% 10.85% 2.58% 2.55% 34.96%

Thai Airways Inter’l Bangkok Airways China Airlines Others

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Thai Air Asia Orient Thai Airlines P.B. Air Thai Airways Inter’l Others Bangkok Airways P.B. Air Thai Air Asia Nok Air Orient Thai Airlines

Year Year 2004 2004 Year Year 2005 2005

Passenger Movements Classified - Passenger Movements Classified - By Airlines

By Airlines

47.18% 37.89% 3.52% 3.52% 4.41% 3.48% 42.84% 5.06% 4.44% 3.54% 3.42% 40.70%

Thai Airways Inter’l Bangkok Airways Thai Air Asia Orient Thai Airlines Cathay Pacific Airways Orient Thai Airlines Others Others

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Singapore Airlines Thai Airways Inter’l Bangkok Airways Cathay Pacific Airways

Year Year 2004 2004 Year Year 2005 2005

Cargo Movements Classified - Cargo Movements Classified - By Airlines

By Airlines

5% 5% 3% 41% 6% 40% 5% 4% 4% 41% 5% 41%

Thai Airways Inter’l China Airlines EVA Airways Martin Air EVA Airways Singapore Airlines Others Others

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Martin Air Thai Airways Inter’l China Airlines Singapore Airlines

Airport Capacity Airport Capacity

Airport Capacity

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PAX Check in PAX PAX Gate Aircraft Terminal counter Capacity Movement Movement (Sq.m.) (mn/year) 2005 2005 DMK

391,316 275 36.50 38.9 94 265,122

HKT

23,369 29 6.50 3.5 11 26,803

CNX

16,742 21 4.10 3.0 11 22,362

HYD

14,656 20 1.95 1.3 8 11,132

CEI

16,650 12 3.00 0.6 10 4,927

BKK

563,000 360 45

• 120
• Changi

634,100 270 44 32.4 114 204,138

Chek Lap Kok

570,000 288 45 40.7 77 242,000

KLIA

480,000 216 25 n.a. 66 n.a.

Incheon

490,000 418 44 n.a. 60 n.a.

AOT Existing Airports Suvarnabhumi airport compared to other Airports

Airport Capacity Airport Capacity

Note = PAX stands for passenger movement n.a. = not in the ACI worldwide top 30 airports by pax movements.

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BKK : Suvarnabhumi Airport DMK : Don Muang International Airport HKT : Phuket International Airport CNX : Chiang Mai International Airport HYD : Had Yai International Airport CEI : Chiang Rai International Airport

Leading Air Transport Center in Southeast Asia Leading Air Transport Center in Southeast Asia Leading Air Transport Center in Southeast Asia

5 10 15 20 25 30 35 40 45 Hong Kong 32.75 32.55 33.88 27.09 36.71 40.7 Bangkok 29.61 30.62 32.18 30.17 37.96 38.98 Changi 28.61 28.09 28.98 n.a. 30.35 32.43 2000 2001 2002 2003 2004 2005

# 1 Passenger Traffic in Southeast Asia

# 1

(22) (26) (28) (17) (21) (25) (15) (18) (24) (24) (18) (n.a.) (17) (14) (26) (16) (18) (25)

(xx) ranking order for top worldwide 30 airports by passenger traffic. n.a. = not in the ACI worldwide top 30 airports by pax movements.

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Financial Performance Financial Performance Financial Performance

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FY FY 05 05 FY FY 06 06 Operating Revenues Operating Revenues

38.22% 2.10% 6.40% 5.77% 25.66% 21.86% 1.92% 5.92% 5.74% 21.33% 39.72% 25.37%

9.18 9.18%

PSC PSC Landing & Parking Landing & Parking Aircraft Service Aircraft Service Concessions Concessions Office & Property Rental Office & Property Rental Service Service

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29.90% 29.90%

FY FY 05 05 FY FY 06 06 Operating Expenses Operating Expenses

30.75% 37.70% 19.03% 9.39% 3.13% 2.96% 7.86% 14.86% 35.82% 38.50%

Personnel Personnel Repair & Maintenance Repair & Maintenance State property rental State property rental Depreciation Depreciation Operating expenses Operating expenses

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CAB has approved increase in maximum charge

• International

Bt 500 Bt 700

• Domestic

Bt 50 Bt 100 (effective on Feb 1st, 2007) Note : Included in ticket price at agency level

Passenger Service Charge

CAB has approved increase in maximum charge

• 20% effective on Jan 1st, 2005
• 15% effective on Apr 1st, 2007

Note : Adjusted by the formula CPI - X + K after the commencement of Suvarnabhumi Airport

Landing/Parking Charge

Aeronautical Rate Charges Aeronautical Rate Charges

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• On 20 April 04 AOT awarded the exclusive duty free concession to King

Power Duty Free Plc. to operate duty free activities at 4 of its airports: Suvarnabhumi, Chiang Mai, Phuket and Hat Yai International airports.

• Duty free concession will have 10 years.
• On 25 March 05 AOT signed management contract with King Power

International Plc. for retail area at Suvarnabhumi approximately 20,000 m2

• Management concession will have 10 years.

Note: (1) 15% for the first 5 years and increases by an increment of 1% for the following 5 years until it reaches 20% in 2015 (2) Example: Bt 32.12 mn for souvenirs in 2004 (3) Example: 15% for books and magazines

Duty Free

Other Commercial Activities

Non - Aeronautical Revenues - Non - Aeronautical Revenues - Terminal Revenue

Terminal Revenue

Min Guarantee Bt (mn) Concession Fee (% of gross revenue) Min. Guarantee Bt (mn) Concession Fee (% of gross revenue) Additional

Duty Free 4,855 (5 years) 15% 16,736 (10 years) 15% - 20% (1) Prepaid Bt2,460 mn (2yrs min. guarantee) at signing of contract Other

Commercial Activities

Varies by contracts(2) Varies by contracts(3) 1,431 / year 15% Prepaid Bt2,000 mn at signing of contract

Previous Terms Current Terms for Awarded Concessions

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Note: 1. Excluding hydrant services for additional 2% of gross revenues

• 2. The amount of Min Guarantee is only for the first year.

AOT has made great progress in awarding concession contracts in the following areas: Cargo,

Catering, Ground Service Equipment (GSE) and Refueling

• All 4 concession contracts have been signed apart from those being awarded to Thai Airways

International (Cargo, Catering, GSE)

Min Guarantee Concession Min Guarantee Concession Min Guarantee Bt(mn) Fee Bt (mn)2 Fee Growth

Cargo

none <Bt250mn = 10% 150 10% 12% every 3 yrs. >Bt250mn = 5%

Catering

none 6-12% 186 12% 12% every 3 yrs.

GSE

none none 166 7.5% - 10.5% 12% every 3 yrs.

Refueling

none 0.07 Bt/litre none 0.06 Bt/litre 1 Review every 5 yrs. Previous Terms at Don Muang Airport Current Terms at Suvarnabhumi

Non Non -

• Aeronautical Revenue

Aeronautical Revenue -

• Building and Grounds

Building and Grounds

26 Terms for Awarded Concession

16,262 14,894 3,000 6,000 9,000 12,000 15,000 18,000 FY 05 FY 06

8,242 9,022

50.68% 60.58%

2,000 4,000 6,000 8,000 10,000

FY 05 FY 06

Bt (mn)

0% 20% 40% 60% 80%

6,842 7,642

42.07% 51.31%

2,000 4,000 6,000 8,000

FY 05 FY 06

Bt (mn)

0% 20% 40% 60% 80% 7,408 10,378

63.82% 49.74%

2,000 4,000 6,000 8,000 10,000 12,000

FY 05 FY 06

Bt (mn)

0% 20% 40% 60% 80% 100% +9.18 %

• 10.48 %
• 8.65 %

+ 4 . 8 %

Source: AOT financial statements - Consolidated Note : (1) EBIT = Operating Income

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Revenues EBITDA EBIT (1) Net Profit

Bt (mn)

Items Amount % of total Amount % of total Don Muang 14,542.2 90.2 7,429.3 92.4 Phuket 1,027.7 6.4 655.1 8.9 Chiang Mai 358.9 2.2 95.7 1.8 Hat Yai 129.0 0.8 (71.90) (0.30) Chiang Rai 68.5 0.4 (67.50) (0.84) Total 16,126.3 100.0 8,040.7 100.0 Operating Revenues Net profit

Unit: Million Baht

Revenues and Net Profit- Revenues and Net Profit- By Airports (FY2006)

By Airports (FY2006)

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Unit : Million Baht

FY 2006 FY 2005 FY 2004

Assets 150,505 134,521 108,924 Liabilities 79,436 70,039 50,266 Shareholders’Equity 71,069 64,482 58,477 Operating Revenues 16,262 14,894 13,974 Operating Expenses 9,420 7,252 6,307 Operating Income 6,842 7,642 7,667 Net Profit 10,378 7,409 4,770 Return on Revenues (%) 63.82 49.74 34.14 Return on Assets (%) 6.90 5.51 4.38 Return on Equity (%) 14.60 11.49 8.16

Financial Highlights Financial Highlights Financial Highlights

Source: AOT financial statements-consolidated

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FY 2006 FY 2005

Unit : Million Baht

As at 30 Sep 2006 As at 30 Sep 2005

Net Debt / (Cash) 37,275 35,809 Total Debt (1) 57,034 55,226 Total Equity (2) 71,069 64,482 Total Capitalization 150,505 134,520 EBITDA 8,242 9,022 Net Debt / Total Cap (x) 0.25 0.27 Total Debt / Total Cap (x) 0.38 0.41 Total Debt / EBITDA (x) 6.92 6.12 Total Debt / Equity (x) 0.80 0.86 Net Debt / Equity (x) 0.52 0.56

Financial Leverage Ratios Financial Leverage Ratios

Source: AOT Financial Statement-Consolidated Note : (1) Total Debt = Long-Term loans, including current portion of LT loans (2) Total Equity includes minority interest

2006E 2007E 2008E 2009E 2010E

Total %

Airport

Bt(mn) Bt(mn) Bt(mn) Bt(mn) Bt(mn) Bt(mn)

Suvarnabhumi 38,375.3 498.8 463.0 454.0 1,971.7 41,762.8 90.25 Don Muang 409.6 150.2 61.0 60.0 60.0 740.8 1.60 Phuket 403.0 117.7 282.4 40.0 177.7 1,020.8 2.21 Chiang Mai 1,059.9 483.8 325.2 40.0 40.0 1,948.9 4.21 Hat Yai 50.9 18.3 77.9 35.0 35.0 217.1 0.47 Chiang Rai 80.1 101.5 89.2 277.4 35.0 583.2 1.26

Total Capex 40,378.8 1,370.3 1,298.7 906.4 2,319.4 46,273.6 100.00

Projected CAPEX - By Airport Projected CAPEX - Projected CAPEX - By Airport

By Airport

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Note : Excluding the new LCCs terminal ( BHT 800 - 900 million)

Q & A Q & A Q & A

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