Airports of Thailand Plc. (Opportunity Day 31 May 19) Investor Relations Department, E-mail: aotir@airportthai.co.th, Tel: (662) 535-5900, Fax (662) 535-5909
Agenda • Business Overview • Financial Performance for 6M FY2019 • AOT Investment Projects • Key Development on Non-Aero Business 2
Business Overview
Stock Overview Fact Sheet Shareholders Information (As of December 14, 2018) Listed on 11 March 2004 Shares outstanding 1. MINISTRY OF FINANCE 70.00% 14,285.70 Million * Shareholders 2. THAI NVDR COMPANY LIMITED 4.49% • Ministry Of Finance 70% • Free Float 30% 3. SOUTH EAST ASIA UK (TYPE C) NOMINEES LIMITED 2.76% Average Daily Market Cap (Oct 18 – Mar 19) 4. STATE STREET EUROPE LIMITED 1.67% • 939,865.49 Million Baht Note : * Change in Par value of AOT share from 10 Baht per share to 1 Baht per 5. SOCIAL SECURITY OFFICE 1.16% share, effective since February 9, 2017. EPS (Baht) 1 Fiscal Dividend Dividend Dividend 6. THE BANK OF NEW YORK MELLON 0.45% (The Company) Yield per share Year payout (Baht) ratio 7. SOUTH EAST ASIA UK (TYPE A) NOMINEES LIMITED 0.45% 2012 4.54 1.80 39.65% 2.26% 8. BNY MELLON NOMINEES LIMITED 0.40% 2013 11.43 4.60 40.23% 2.44% 9. VAYUPAK FUND 1 BY MFC ASSET MANAGEMENT PLC. 0.35% 10. VAYUPAK FUND 1 BY KRUNG THAI ASSET MANAGEMENT 2014 8.51 3.40 39.95% 1.42% 0.35% PLC. 2015 2 13.11 6.54 49. 96% 2.33% Dividend Policy 2016 13.67 6. 83 49. 96% 1.71% Not less than 25% of net profit of the company for each year after deduction of all specified reserves, 2017 1.44 0.86 59.64% 1.46% subject to our investment plans and other considerations that our Board of Directors deems 2018 1.76 1.05 59.66% 1.60% appropriate Note: 1. EPS using for calculating the dividend is from the company financial statements. 4 2. AOT’s Board of Directors approved the payment of interim dividend for the first half of accounting year 2015 from Oct. 1, 2014 to March 31, 2015.
Airports in Thailand MAE FAH LUANG-CHIANG RAI Total of 39 airports INTERNATIONAL AIRPORT CHIANG MAI INTERNATIONAL Airports of Thailand Public Company Limited AIRPORT 2 in Bangkok and perimeter Pai Suvarnabhumi Airport (BKK) Mae Hong Son o Nan Don Mueang International Airport (DMK) Lampang o Phrae Udon Thani 4 international airports at regional sites Sukhothai Nakhon Phanom Tak Loei Chiang Mai International Airport (CNX) Mae Sot o Sakon Nakhorn Phitsanulok Khon Kaen Phetchabun Phuket International Airport (HKT) o Roi Ed DON MUEANG Hat Yai International Airport (HDY) o Surin INTERNATIONAL AIRPORT Mae Fah Luang-Chiang Rai International Airport (CEI) * Buri Ram Ubon Ratchathani o Nakhon Ratchasima SUVARNABHUMI AIRPORT Department of Airports (DOA) AOT Airports U-Tapao o * 29 regional airports Hua Hin DCA Airports Trad Bangkok Airways Airports Royal Thai Navy Chumpon Royal Thai Navy Airport o U-Tapao Pattaya International Airport Ranong Surattani Samui Bangkok Airways Company HAT YAI Nakhon Si Thammarat INTERNATIONAL o Sukhothai Airport AIRPORT Krabi o Samui Airport PHUKET INTERNATIONAL Trang Pattani o Trad Airport AIRPORT Narathiwat Yala Note: * Changing from Chiang Rai International Airport to Mae Fah Luang – Chiang Rai International Airport since March 13, 2010. 5
% Share – BY AIRPORTS (FY 2018) % share (Flights) (Passengers) Suvarnabhumi 41.61 45.02 Don Mueang 30.85 29.07 Phuket 13.31 13.09 Chiang Mai 8.64 7.75 3.34 3.06 Hat Yai 2.25 2.01 Chiang Rai 6
Sources of Revenue 7
Airport Revenues (FY2018) Landing & Parking Charges 20% increased on Jan 1 st , 2005 15% increased on Apr 1 st , 2007 Aeronautical Effective on Feb 1 st , 2007 Departure Passenger Service Charges (PSC) THB 500 to THB 700 - International PSC 56% 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 Rents Rental tenants include airline, government agencies and concession tenants. Rents are determined based on the tenants’ business use at each of our airports. Non-Aeronautical Service Varies by activities such as Utilities, Check-in Counter Services, Airline Announcement Services, Hydrant System Services, Advance Passenger Processing 44% System (APPS), etc. Concession Varies by activities such as Duty Free, Souvenirs, Food & Beverage, Airline Catering, Fueling Services, Car Parking, Advertising, Banking, etc. 8
Revenues Breakdown (FY2018) 12.07% 27.60% 42.70% 12.51% By Proportion 3.74% 1.38% Landing & Parking charges (LPC) Departure Passenger service charges (PSC) A/C Service charges (ASC) Office and state property rents (OPR) Service revenues (SVR) Concession revenues (CCR) Note: Fiscal Year starting from October to September 9
Airport Operating Expenses Employee Benefit Expenses Consisting of : - employee salaries and bonuses, employee benefits, retirement payments and contributions to employee provident fund . - the remuneration of AOT’s board of directors and executives as stated in the notice of Capital Market Supervisory Board. Consisting of electricity charges, cooling water system and water supply. Utilities Expenses Outsourcing Expenses Consisting of security, limousine service, cleaner, gardener, trolley, Advance Passenger Processing System (APPS), etc. Repairs 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 Property 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
Expenses Breakdown (FY2018) 20.72% 25.71% 14.23% 9.56% 9.13% 20.65% By Proportion Employee Benefit expenses Utilities expenses Outsourcing expenses Repairs and maintenance (R&M) State property rental (SPR) Depreciation and amortization (D&M) Note: Fiscal Year starting from October to September 11
Nationality Passenger Traffic (FY2018) 15.9% Europe 74.8% Asia Pacific • +3.3% PAX Growth • +15.2% PAX Growth 4.0% America • +4.3% PAX Growth 2.3% Middle East • -3.0% PAX Growth 0.7% Africa • +5.2% PAX Growth 2.4% Oceania • +0.1% PAX Growth Source : Corporate Strategy Department, AOT 12
Chinese Traffic Movement (FY2015-2019) Remarks : 1. Government measure after the boat sinking tour (July 2018) - Free VOA for 21 countries including China, India, Taiwan and Eastern Europe from Nov 15, 2018 - Oct 31, 2019 2. Government measure after crackdown on "zero-dollar" Chinese (Sep 2016) (Effective from Dec 1, 2016 - Aug 31, 2017) - Free Visa at Thai Embassy - Reduce VOA for 21 countries from 2,000 THB to 1,000 THB 13
AOT Air Traffic FY2019 (7 months : Oct 18 – Apr 19) AOT Passenger Growth 7 months of FY2019 AOT Aircraft Growth 7 months of FY2019 +4.4% +2.2% 86.43 million passengers 533,886 flight International Domestic International Domestic +4.1% +6.6% -0.3% +1.9% (+2.2%) (+4.4%) AOT AOT 86.43 M 533,886 Passenger Share by Airport Aircraft Share by Airport +3.0% +5.4% +5.3% +5.4% (+3.4%) (+5.4%) BKK BKK 39.34 M 224,174 -2.1% +8.2% +8.8% -0.6% (+1.8%) (+2.7%) DMK DMK 24.43 M 161,208 +25.2% +1.0% +24.4% +7.8% (+6.6%) (+12.3%) CNX CNX 7.07 M 49,795 -9.5% -2.7% -24.5% -1.1% (-3.3%) (-3.8%) HDY HDY 2.45 M 16,109 -1.5% -4.5% +2.9% +0.2% (-2.8%) (+1.7%) HKT HKT 11.29 M 70,024 +47.5% +3.7% +53.8% +2.2% (+6.5%) (+6.9%) CEI CEI 12,576 1.84 M Suvarnabhumi Airport (BKK) Phuket International Airport (HKT) Don Mueang International Airport (DMK) Hat Yai International Airport (HDY) 14 Chiang Mai International Airport (CNX) Mae Fah Luang-Chiang Rai International Airport (CEI)
Nationality Passenger Traffic (Oct 18- Apr 19) Nationality % Change % Share Chinese - 3.24 24.25% Thai 11.12% 18.40% South Korean 6.86% 4.77% Indian 22.62% 4.38% Japanese 10.41% 4.37% Russian 3.14% 3.95% Malaysian 8.17% 3.19% American 6.57% 2.97% British 0.96% 2.49% Singaporean 1.85% 2.44% 15
Financial Performance (6M FY 2019)
Revenues Breakdown (6M FY2019) Total Revenue By Proportion (Unit: Million Baht) 6M FY2019 6M FY2018 60,537.41 11.90% 54,901.16 11.90% 50,961.95 27.73% 27.11% 32,517.87 30,929.22 42.90% 12.58% 12.52% 43.52% 3.56% 3.64% 1.33% 1.31% By Growth (Unit: Million Baht) 2016 2017 2018 6M 2018 6M 2019 FY2016 FY2017 FY2018 6M FY18 6M FY19 YoY FY 6 ,731.61 7,303.66 3,682.32 3,868.68 5.06% LPC 6,433.26 Landing & Parking charges (LPC) 25,850.04 13,461.02 13,949.72 3.63% PSC 21,968.21 23,285.00 Departure Passenger service charges (PSC) 832.56 404.17 434.01 7.38% ASC 786.20 808.80 A/C Service charges (ASC) 1,992.80 2,264.83 2,264.96 1,124.51 1,156.12 2.81% OPR Office and state property rents (OPR) 7,575.76 3,871.73 4,091.87 5.69% SVR 6,161.45 7,059.20 Service revenues (SVR) 16,710.43 8,385.47 9,017.47 7.54% CCR 13,620.03 14,751.72 Concession revenues (CCR) 54,901.16 60,537.41 30,929.22 32,517.87 5.14% 50,961.95 Total 17 Note: Fiscal Year starting from October to September
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