Airports of Thailand Plc. Airports of Thailand Plc. Corporate - - PDF document

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Airports of Thailand Plc. Airports of Thailand Plc. Corporate - - PDF document

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Airports of Thailand Plc. Airports of Thailand Plc. Corporate Presentation for Q1 of Fiscal Year 2010 Corporate Presentation for Q1 of Fiscal Year 2010 (October 2009 (October 2009 December 2009) December 2009) Investor Relations

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Airports of Thailand Plc. Airports of Thailand Plc.

Corporate Presentation for Q1 of Fiscal Year 2010 Corporate Presentation for Q1 of Fiscal Year 2010

(October 2009 (October 2009 – – December 2009) December 2009)

Investor Relations Center, E-mail: aotir@airportthai.co.th, Tel: (662) 535-5900, Fax (662) 535-5909

Disclaimer

This presentation is intended to assist investors to better understanding the company’s business and financial status. This presentation may contain forward looking statements relate to analysis and other information which are based on forecast of future results and estimates of amounts not yet determinable. These statements reflect our current views with respect to future events which relate to

  • ur future prospects, developments and business strategies and are not guarantee of

future performance. Such forward looking statements involve know and unknown risks and uncertainties. The Actual result may differ materially from information contained in these statements.

2

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Royal Thai Navy Airport

Sukhothai

Bangkok Airways Airports DCA 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 38 airports

  • Airports of Thailand Public Company Limited 1

2 in Bangkok and perimeter

  • Suvarnabhumi Airport (BKK)
  • Don Muang International Airport (DMK)

4 international airports at regional sites

  • Chiang Mai International Airport (CNX)
  • Hat Yai International Airport (HDY)
  • Phuket International Airport (HKT)
  • Mae Fah Luang-Chiang Rai International Airport (CEI) 2
  • Department of Civil Aviation (DCA)
  • 28 regional airports
  • Royal Thai Navy
  • U-Tapao Airport
  • Bangkok Airways Company
  • Sukhothai Airport
  • Samui Airport
  • Trad Airport

PHUKET INTERNATIONAL AIRPORT CHIANG RAI INTERNATIONAL AIRPORT CHIANG MAI INTERNATIONAL AIRPORT DON MUANG INTERNATIONAL AIRPORT HAT YAI INTERNATIONAL AIRPORT SUVARNABHUMI SUVARNABHUMI AIRPORT AIRPORT

Note: 1. AOT’s traffics account for more than 90% of Thailand’s air traffics. 2.Changing from Chiang Rai International Airport to Mae Fah Luang–Chiang Rai International Airport since March 13, 2010.

Airports in Thailand

3

Pai Surin

Fact Sheet

Airports of Thailand PLC Listed on 11 March 2004 Shares outstanding 1,428.57 million Shareholders

  • Ministry Of Finance

70%

  • Free Float

30% Average Daily Market Cap (Oct 09 - Dec 09)

  • BHT

56,605.88 M

Business Overview

Shareholders Information Dividend Policy

Not less than 25% of net profit of the company for each year after deduction of all specified reserves, subject to our investment plans and other considerations that our Board of Directors deems appropriate Fiscal Year EPS (Baht)1

(The Company)

Dividend per share

(Baht)

Dividend payout ratio Dividend Yield 20062 7.26 2.75 37.88 % 4.74% 2007 0.84 0.40 47.61% 0.64% 2008 5.15 2.58 50.09% 8.32% 2009 0.59 0.42 71.19% 0.99%

As of December 23, 2009

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Note: 1. EPS using for calculating the dividend is from the company financial statements.

  • 2. In FY2006 AOT paid dividend twice:
  • On 12 Oct 2006 (Baht 0.95 per share)
  • On 23 Feb 2007(Baht 1.80 per share)
  • 1. Ministry of Finance

70.00%

  • 2. Nortrust Nominees LTD

4.97%

  • 3. State Street Bank and Trust Company for

Australia 2.92%

  • 4. Chase Nominees Limited 1

2.72%

  • 5. Nortrust Nominees Limited – Melbourne

Branch Future 2.01%

  • 6. Thai NVDR Company Limited

1.76%

  • 7. Somers (U.K.) Limited

0.81%

  • 8. Social Security Office

0.64%

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215.24 220.67 196.68 47.94 54.00 175.06 173.38 149.86 33.35 43.22 2007.00 2008.00 2009.00 Q1_09 Q1_10 International Domestic 26.29 28.58 29.31 6.52 8.90 78.97 75.98 57.16 11.22 17.38 2007 2008 2009 Q1_09 Q1_10 International Domestic

105.26 104.56

Q1_FY09 Q1_FY10 YoY% BKK 9,711 12,802 31.83% DMK 2,303 4,580 98.87% BKK + DMK 12,014 17,382 44.68% HKT 2,464 3,882 57.55% CNX 1,817 2,609 43.59% HDY 1,064 1,686 58.46% CEI 386 704 82.38% (Unit: Thousand)

AOT Traffics

Q1_FY09 Q1_FY10 YoY% BKK 54,889 66,894 21.87% DMK 8,841 7,911 (10.52%) BKK + DMK 63,730 74,805 17.38% HKT 8,961 10,836 20.92% CNX 5,736 7,116 24.06% HDY 1,751 2,798 59.79% CEI 1,109 1,669 50.50%

Aircraft Movement Statistics

  • Domestic (3 airlines)

Thai Air Asia Nok Air One-Two-Go/Orient Thai Airlines

  • International

(12 airlines) Air Asia Thai Air Asia Tiger Airways Jetstar Asia Jetstar Airways Cebu Pacific Air Air India Express Indonesia Air Asia Air Berlin Condor Flugdienst Jeju Air Jin Air

Major LCCs Airline

(Unit: Thousand)

390.30 394.05 81.29 0.96% 1 9 . 6 1 %

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LCCs Traffics

Note: 1. Fiscal Year starting from October to September

  • 2. The percentage growth as shown is calculated from the full number of the air traffic statistics

346.54 ( 1 2 . 6 % ) (0.67%) 86.47 97.22 26.28 ( 1 7 . 3 % ) 17.74 4 8 . %

AOT Traffics LCCs Traffics

Passenger Movement Statistics

35.20 36.80 30.61 7.15 9.37 20.82 21.50 19.47 4.30 5.93 2007 2008 2009 Q1_09 Q1_10 International Domestic Q1_FY09 Q1_FY10 YoY% BKK 8,032,806 11,481,827 42.94% DMK 912,040 595,300 (34.73%) BKK + DMK 8,944,846 12,077,127 35.02% HKT 1,348,719 1,687,052 25.09% CNX 726,963 936,262 28.79% HDY 272,641 379,342 39.14% CEI 143,109 212,862 48.74% 2.94 3.42 3.39 0.76 1.25 9.11 9.02 6.72 1.39 2.22 2007 2008 2009 Q1_09 Q1_10 International Domestic Q1_FY09 Q1_FY10 YoY% BKK 1,158,042 1,702,477 47.01% DMK 259,884 586,566 125.70% BKK + DMK 1,417,926 2,289,043 61.44% HKT 311,915 527,208 69.02% CNX 224,534 341,149 51.94% HDY 146,566 216,814 47.93% CEI 46,452 92,248 98.59%

3.22% 56.02 58.30 12.05 12.44

(Unit: Million) (Unit: Million)

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4.08% 15.30 10.11 (18.76%) 50.08 (14.10%) 11.45 3.47 3 3 . 7 2 %

Note: 1. Fiscal Year starting from October to September

  • 2. The percentage growth as shown is calculated from the full number of the air traffic statistics

2.15 6 1 . 4 3 %

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Monthly Air Traffic Movements: FY 2007 - 2010

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(Unit: Thousand) (Unit: Million)

Aircraft Movements Passenger Movements

20 24 28 32 36 40

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

3 4 5 6

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

FY 2007 FY 2008 FY 2009 FY 2010 (Oct-Jan) FY 2007 FY 2008 FY 2009 FY 2010 (Oct-Jan)

Airport Revenues (The consolidated financial statements)

Landing & Parking Charges 20% increased on Jan 1st, 2005 15% increased on Apr 1st, 2007 Passenger Service Charges (PSC) Effective on Feb 1st, 2007 THB 500 to THB 700 - International PSC THB 50 to THB 100 - Domestic PSC Aircraft Service Charges Fees paid by airlines for use of boarding bridges, varies by maximum take off weight of the aircraft and length of time at a gate Office & State Property Rental Rental tenants include airline, government agencies and concession tenants. Rents are determined based

  • n the tenants’ business use at each of our airports.

Service Varies by activities such as Utilities, Check-in Counter Services, Airline Announcement Services, Hydrant System Services, etc. Concession Varies by activities such as Duty Free, Souvenirs, Food & Beverage, Airline Catering, Fueling Services, Car Parking, Advertising, Banking, etc.

Aeronautical 54.19%

(End of Q1/FY 2010)

Non-Aeronautical 45.81%

(End of Q1/FY 2010)

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1.79% 8.66% 23.74% 16.23% 36.17% 13.41%

2007 2008 2009 Q1_09 Q1_10

Landing & Parking charges (LPC) Passenger service charges (PSC) A/C Service charges (ASC) Office and state property rents (OPR) Service revenues (SVR) Concession revenue (CCR) 1.68% 6.87% 24.31% 11.84% 42.05% 13.24%

Total Revenue By proportion

FY2007 FY2008 FY2009 3,114.98 8,676.54 411.06 1,698.23 Q1_09 Q1_10 YoY(%) LPC 3,937.40 4,216.35 876.68 736.82 (15.95%) PSC 8,781.48 10,417.01 1,953.13 2,615.97 33.94% ASC 427.10 431.75 96.47 104.78 8.62% OPR 1,524.61 1,861.76 467.38 427.57 (8.52%) SVR 2,818.54 3,389.29 2,901.28 4,700.31 724.31 823.88 13.75% CCR 2,012.28 6,423.98 1,281.98 1,512.61 17.99%

By Growth

Revenue Breakdown (The consolidated financial statements)

(Unit: Million) (Unit: Million)

19,501.41 37.12% 1 5 . 2 2 % 5,399.95

Q1_FY09 Q1_FY10 9

Note: Fiscal Year starting from October to September (19.59%) 26,740.14 6,221.63 21,502.40

Airport Expenses (The consolidated financial statements)

Personnel Expenses Consisting of employee salaries and bonuses, employee benefits, retirement payments and contributions to employee provident fund Operating Expenses Consisting of electricity charges, costs related to outsourced workers, property taxes, consultant fees, telephone, advertising and public relations costs, water, insurance premium costs and etc. Repair and Maintenance Consisting of repair and maintenance of runways and taxiways, elevators, escalators and cover walkways, air conditioning systems, conveyor belts, transportation equipment and construction and electrical appliances State Properties Rental Consisting of rental payments made to the Ministry of Finance under the airport land leases Depreciation and Amortization Consisting of depreciation charges in respect of the property, plant and equipment as well as amortization in respect of the intangible assets. Calculating on a straight-line basis over the assets’ useful lives (between 5 and 50 years) 10

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2007 2008 2009 Q1_09 Q1_10 Management benefit expenses * Personnel expenses Operating expenses Repairs and maintenance (R&M) State property rental (SPR) Depreciation and amortization (D&M) 0.23% 46.30% 28.75% 14.83% 5.45% 4.44%

Total Cost By proportion

FY2007 FY2008 FY2009 Management

  • 10.00

12.46 24.60% 3,266.59 5,216.67 1,214.69 939.51 7,905.80 3,909.00 5,100.31 683.96 1,180.24 Q1_09 Q1_10 YoY(%) 7,866.89 Personnel 2,927.84 639.40 657.07 2.76% Operating 5,730.13 1,239.39 1,507.64 21.64% R&M 732.38 191.37 371.32 94.03% SPR 846.32 234.86 273.15 16.30% D&M 7,768.01 1,995.71 2,003.49 0.39%

By Growth

Expense Breakdown (The consolidated financial statements)

(Unit: Million) (Unit: Million)

4.08% 4,310.73

Q1_FY09 Q1_ FY10 11

0.26% 7.70% 5.66% 13.62% 31.25% 41.52%

(1.05%) 18,004.68 18,740.40 18,543.26 11.93% 4,825.13 Note: * The Management benefit expenses are the remuneration of AOT’s board of directors and executives as stated in the notice of Capital Market Supervisory Board

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FY08 FY09 YoY% 1Q09 1Q10 YoY% Revenues 26,740.14 21,502.39 (19.59%) 5,399.95 6,221.63 15.22% Expenses 18,740.40 18,543.25 (1.05%) 4,310.73 4,825.12 11.93% Depreciation 7,866.89 7,905.80 0.49% 1,995.71 2,003.49 0.39% Operating Income 7,999.74 2,959.14 (63.01%) 1,089.22 1,396.51 28.21% EBITDA 15,866.63 10,864.94 (31.52%) 3,084.93 3,400.01 10.21% Net Profit (Loss) 7,321.05 717.26 (90.20%) (1,679.30) 798.05 (52.48%)

(Unit: Million Baht)

Income Statements (The consolidated financial statements)

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13 30 Sep 2009 31 Dec 2009 Cash 3,347.00 2,224.60 Other Current Asset 21,735.87 20,494.03 Non Current Asset 123,937.01 123,424.58 Total Assets 149,019.88 146,143.21 Current Liabilities 13,313.85 12,046.35 Long Term Loan 61,914.38 59,496.47 Other Non Current Liabilities 531.87 544.96 Total Liabilities 75,760.10 72,087.78 Shareholder’s Equity 73,259.78 74,055.43 Total Liabilities & Shareholder’s Equity 149,019.88 146,143.21

BALANCE SHEET CASH FLOW STATEMENT

Beginning Cash Flow 3,347.00 Cash Flow from Operation 6,893.54 Cash Used in Investment 7,384.92 Cash Used in Financing 631.01 Ending Cash Flow 2,224.60 Total Loan (Million Yen) 199,210.76 Disbursed Amount 97.21% Repayment Amount (Million Yen) 21,611.15 Hedged Percentage of the remaining loan 76.96% Average Interest Rate 5.02%

LONG-TERM LOANS

(Unit: Million Baht) (Unit: Million Baht)

Financial Status (The consolidated financial statements)

14 0.55 1.08 0.84 66.10 0.56 0.75 51.83 39.00 10.00 31 Dec 2009 0.76 1.57 0.63 0.78 80.51 0.77 1.27 48.78 62.00 10.00 30 Sep 2007 5.00 9.59 0.74 0.79 6.05 5.12 0.58 53.42 31.00 10.00 30 Sep 2008 0.48 0.98 0.87 0.91 84.50 0.50 0.82 51.28 42.25 10.00 30 Sep 2009 Par Value (THB) Market Price (THB) BV/share P/BV EPS P/E Gearing Net Gearing ROE (%) ROA (%)

Note: Gearing = Total Debt / Total Equity Net Gearing = Net Debt / Total Equity Total Debt = Total Interest Baring Debt

Financial Ratios (The consolidated financial statements)

0.86

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Planned

(The cabinet resolution on May 29,2007) Houses Amount NEF > 40 411.31 Purchased 70 332.05 Insulated 312 79.26 NEF 30-40 358.69 Insulated 427 111.06 Sensitive Area 15 247.63 Total 770.00 KMITL* 214.00

Proceeded

(Unit: Million Baht)

Noise Compensation (Suvarnabhumi Airport Phase I)

Note: KMITL is King Mongkut’s Institute of Technology Ladkrabang

Total Impacted Houses (9,464) Total Impacted Houses (9,464) NEF > 40 (498) NEF > 40 (498) NEF 30-40 (8,966) NEF 30-40 (8,966) Insulation (348) Insulation (348) Insulation (8,966) Insulation (8,966) Purchase (152) Purchase (152)

Summer Season

(Unit: Houses)

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Planned

(AOT’s Board of Directors’ resolution

  • n Jun 21,2007)

Proceeding *

Noise Compensation (Suvarnabhumi Airport Phase I)

Total Impacted Houses (6,424) Total Impacted Houses (6,424) NEF > 40 (107) NEF > 40 (107) NEF 30-40 (6,317) NEF 30-40 (6,317)

Winter Season

(Unit: Houses)

The AOT’s Board Approval

  • n Jun 21,2007

The AOT’s Board Approval

  • n Jun 21,2007

The Cabinet Approval The Shareholders Approval The Payment Process

Note: The noise compensation for winter season is under the process of the cabinet approval

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Suvarnabhumi

Investment Cost (billion baht) Expected Timeframe Additional Capacity

  • 1. Domestic Passenger

Terminal Consultant Study Process

  • 2. Suvarnabhumi Airport

Expansion for FY 2011-2016 (Excluding

the 3rd runway)

62.50 2011 - 2016

  • 15 MAP
  • 28 contacted gates

Phuket

Investment Cost (billion baht) Expected Timeframe Additional Capacity

  • 1. New International

Passenger Terminal

  • 2. Renovation of the

Existing Terminal

  • 3. Apron
  • 4. Other related facilities

5.79 2009 - 2013

  • 6 MAP
  • 4 contacted gates

Future Airport Developments

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Commercial Projects

Don Muang I nternational Airport

  • Private Jet Terminal
  • Aircraft Maintenance Center
  • Aircraft Simulation Center
  • Spare Parts Warehouse
  • Landing Gear Maintenance
  • International Free Trade Zone

Phuket I nternational Airport

  • Private Jet Terminal

Suvarnabhum i Airport

  • Community Mall
  • Central Warehouse
  • Hotel
  • Hospital
  • Golf Course
  • Office Building
  • Exhibition Center
  • Export Exhibition Center

Chiang Mai I nternational Airport

  • Private Jet Terminal
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Aircraft (Flights/Hour) Passengers (Million/Year) Cargoes (Million Metric Tons/Year) Actual Utilization Actual Utilization Actual Utilization Airport Capacity Capacity Capacity 2008 2009 2008 2009 2008 2009 BKK

76 54 57 45 38.60 40.50 3.00 1.20 1.05

DMK

60 23 21 36.5 5.04 2.47 0.91 0.032 0.010

HKT

20 16 18 6.5 5.73 5.78 0.036 0.019 0.018

CNX

24 12 12 8 3.06 3.08 0.035 0.021 0.018

HDY

20 6 8 1.9 1.28 1.39 0.013 0.010 0.012

CEI

12 5 5 1.7 0.68 0.72 0.005 0.002 0.002

Appendix A: Airport Capacity vs. Utilization

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Area Capacity Airports Total Area (Acres) Terminal Area (Sq.m.) Aircraft (Flights/ Hour) Passenger (Million/Year) Cargo (Million Metric Tons/Year) Runways (Metres) BKK

8,000 563,000 76 45 3.00 2 60 x 3,700 60 x 4,000

DMK

1,552 391,316 60 36.5 0.91 2 60 x 3,700 45 x 3,500

HKT

47 23,369 20 6.5 0.036 1 45 x 3,000

CNX

86 16,742 24 8 0.035 1 45 x 3,100

HDY

28 14,656 20 1.9 0.013 1 45 x 3,050

CEI

15 16,650 12 1.7 0.005 1 45 x 3,000

Chek Lap Kok

3,101 710,000 54 45 3 .00 2 60 x 3,800

Changi

3,212 1,043,020 n/a 64 2.00 2 60 x 4,000

Incheon

13,880 496,000 n/a 44 2.00 2 60 x 3,750

Appendix B: AOT vs. Regional Airports Capacity

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21 Thai Airways International 29.29% Thai AirAsia 14.89% Bangkok Airways 10.76% AirAsia 1.84% Cathay Pacific Airways 1.58% China Airlines 1.52% Singapore Airlines 1.07% EVA Air 1.02% Emirates 1.01% JAL Ways 0.86% Thai AirAsia 59.49% Nok Air 16.36% AirAsia 7.50% Orient Thai Airlines 5.24% Tiger Airways 3.88% One Two Go Airlines 2.54% JetStar Asia 1.44% CEBU Pacific Air 1.06% Indonesia AirAsia 0.82% JetStar Airways 0.70% Firefly 0.62% Air India Express 0.35% International Scheduled Flight 51.80% International Non- Scheduled Flight 0.74% Charter 1.34% Domestic Scheduled Flight 37.35% Domestic Non- Scheduled Flight 5.84% Others 2.93%

Type of Flight Low Cost Carriers Top 10 Airlines

Appendix C: Market Share (By Aircraft) – FY2009

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Type of Flight Low Cost Carriers Top 10 Airlines

International Scheduled Flight 51.80% International Non- Scheduled Flight 0.74% Charter 1.34% Domestic Scheduled Flight 37.35% Domestic Non- Scheduled Flight 5.84% Others 2.93% Thai Airways International 35.18% Thai AirAsia 10.10% Bangkok Airways 2.71% Cathay Pacific Airways 2.07% China Airlines 1.60% Emirates 1.53% Singapore Airlines 1.33% JAL Ways 1.00% EVA Air 0.99% Korean Air 0.92% Thai Air Asia 60.33% Nok Air 15.60% AirAsia 7.18% Orient Thai Airlines 4.66% Tiger Airways 4.49% One Two Go Airlines 2.26% JetStar Asia 1.65% JetStar Airways 1.44% CEBU Pacific Air 1.03% Indonesia AirAsia 0.85% Air India Express 0.32% Firefly 0.18%

Appendix D: Market Share (By Passenger) – FY2009