Airports of Thailand Plc. Presentation for Analyst Briefing 9M_FY09 - - PowerPoint PPT Presentation

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Airports of Thailand Plc. Presentation for Analyst Briefing 9M_FY09 - - PowerPoint PPT Presentation

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Airports of Thailand Plc. Presentation for Analyst Briefing 9M_FY09 (October 2008 June 2009) Investor Relations Center, Email: aotir@airportthai.co.th, Tel: (662) 535-5900, Fax (662) 535-5909 Disclaimer This presentation is intended to

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Airports of Thailand Plc.

Presentation for Analyst Briefing – 9M_FY09

(October 2008 – June 2009)

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

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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.

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201.8 215.2 220.7 169.2 147.7 148.5 175.1 173.4 138.9 109.8 2006 2007 2008 9M_08 9M_09 International Domestic 18.9 26.3 28.6 22.0 21.6 59.4 78.9 75.9 64.5 41.6 2006 2007 2008 9M_08 9M_09 International Domestic

78.3 105.2 86.5

9M_FY08 9M_FY09 YoY% BKK 34,211 33,119 (3.19)% DMK 21,701 9,170 (57.74)% BKK + DMK 55,912 42,289 (24.37)% CNX 9,348 6,106 (34.68)% HKT 11,555 8,943 (22.60)% HDY 6,269 4,224 (32.62)% CEI 3,475 1,660 (52.23)% (Unit: Thousand)

AOT Traffics

9M_FY08 9M_FY09 YoY% BKK 195,777 178,354 (8.90)% DMK 45,034 24,183 (46.30)% BKK + DMK 240,811 202,537 (15.89)% CNX 20,534 17,104 (16.70)% HKT 32,749 27,363 (16.45)% HDY 8,378 6,558 (21.72)% CEI 5,662 3,918 (30.80)%

Aircraft Movement Statistics

  • Domestic

Thai Air Asia Nok Air One Two Go Airlines

  • International

Air Asia Thai Air Asia Tiger Airways Jetstar Asia Jetstar Airways CEBU Pacific Air Mihin Lanka Airlines Air India Express Indonesia AirAsia Firefly

Major LCCs Airline

(Unit: Thousand)

350.3 390.3 308.1

LCCs Traffics

* Note: Fiscal Year starting from October to September AOT Average Aircraft Movement Growth Rate for the last 6 year is 9.8%

Note

394.1 104.5 63.2 257.5

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AOT Traffics LCCs Traffics

Passenger Movement Statistics

33.1 35.2 36.8 28.7 22.8 18.7 20.8 21.4 17.0 14.2

2006 2007 2008 9M_08 9M_09

International Domestic

9M_FY08 9M_FY09 YoY% BKK 31,827,343 26,977,178 (15.24)% DMK 4,746,637 2,360,149 (50.28)% BKK + DMK 36,573,980 29,337,327 (19.79)% CNX 2,589,115 2,127,580 (17.83)% HKT 4,791,300 4,149,509 (13.39)% HDY 1,093,361 925,843 (15.32)% CEI 640,454 473,867 (26.01)% 2.2 2.9 3.4 2.6 2.5 7.0 9.1 9.0 7.5 4.8 2006 2007 2008 9M_08 9M_09 International Domestic 9M_FY08 9M_FY09 YoY% BKK 3,955,798 3,887,401 (1.73)% DMK 2,558,138 982,798 (61.58)% BKK + DMK 6,513,936 4,870,199 (25.23)% CNX 1,094,336 689,445 (37.00)% HKT 1,354,183 1,047,239 (22.67)% HDY 782,589 533,452 (31.83)% CEI 361,520 178,132 (50.73)%

51.8 56.0 45.7 9.2 12.0 10.1

(Unit: Million) (Unit: Million) 2004

  • Bird Flu
  • Southern Violence

2005

  • Tsunami

2006

  • Coup D’etat
  • Southern Violence

2008

  • World Economic

Crisis 2009

  • Airport Closure
  • 2009 Flu

Major Events

AOT Average Passenger Movement Growth Rate for the last 6 year is 8.4%

Note

58.2 37.0 12.4 7.3

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Impacts from economy crisis and political unrest

MoM Growth Oct Nov Dec Jan Feb Mar Apr May Jun Jul FY2008

  • 6.23%

8.30% 1.37% (3.78)% 4.83% (10.12)% (9.57)% (7.71)% 9.80% FY2009

  • (12.91)%

(4.67)% 33.21% (9.13)% 12.40% (7.23)% (14.69)% (3.90)% 19.18%

Total Passenger

  • 1,000,000

2,000,000 3,000,000 4,000,000 5,000,000 6,000,000 OCT. NOV. DEC. JAN. FEB. MAR. APR. MAY. JUN JUL. AUG. SEP.

Movements

2003 2004 2005 2006 2007 2008 2009

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1.66% 6.40% 22.13% 16.20% 40.29% 13.33%

2006 2007 2008 9M_08 9M_09

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) 1.90% 7.67% 22.19% 15.00% 39.95% 13.29%

Total Revenue By proportion

FY2007 FY2008 YoY(%) 9M_FY08 9M_FY09 YoY(%) LPC 3,937.40 4,216.35 19.16% 3,235.02 2,437.95 (24.64)% PSC 8,781.48 10,417.01 47.33% 8,151.54 6,491.06 (20.37)% ASC 427.10 431.75 1.96% 330.37 308.64 (6.58)% OPR 1,524.61 1,480.64 6.73% 1,279.07 1,245.53 (2.62)% SVR 2,818.54 3,164.29 14.38% 2,660.82 2,159.98 (18.82)% CCR 2,012.28 2,300.81 10.45% 4,260.42 3,605.52 (15.37%

By Growth

16,240.73

Revenue Breakdown

(Unit: Million) (Unit: Million)

19,501.41 19,917.26

9M_FY08 9M_FY09

* Note: Fiscal Year starting from October to September 22,010.86 16,248.69

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6.09% 5.40% 14.88% 28.69% 44.95%

2006 2007 2008 9M_08 9M_09

Personnel expenses Operating expenses Repair and maintenance (R&M) State property rental (SPR) Depreciation and amortization (D&M) 3.33% 6.80% 14.90% 29.40% 45.57%

Total Cost By proportion

FY2007 FY2008 YoY(%) 9M_FY08 9M_FY09 YoY(%) Personnel 2,927.84 3,909.00 21.11% 1,914.65 1,954.66 2.09% Operating 5,730.13 5,100.31 27.55% 3,776.72 3,769.01 (0.20)% R&M 732.38 683.96 3.69% 427.31 799.94 87.20% SPR 846.32 955.73 5.16% 872.94 709.01 (18.78)% D&M 7,759.50 7,866.89 42.49% 5,854.45 5,905.17 0.87%

By Growth

Expense Breakdown

(Unit: Million) (Unit: Million)

12,846.08

9M_FY08 9M_ FY09

9,420.08 18,004.67 18,515.89 13,137.78

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Financial Statement

9M_FY08 9M_FY09 YOY(%) Revenues 19,917.25 16,248.69 (18.42)% Expenses 12,846.08 13,137.78 2.27% Depreciation 5,854.46 5,905.17 0.87% Operating Income 7,071.18 3,110.90 (56.01)% EBITDA 12,925.63 9,016.08 (30.25)% Other Revenues/Expenses – net 3,349.56 403.62 (87.95)% Profit before interest and income tax 10,420.74 3,514.52 (66.27)% Interest Exp. 1,926.31 1,876.02 (2.61)% Income Tax 1,390.00 231.74 (83.33)% Loss from Minority Interest 26.15 60.61 1.32% Net Profit 7,130.67 1,467.37 (79.42)%

0.00 5,000.00 10,000.00 15,000.00 20,000.00 25,000.00 FY05 FY06 FY07 FY08

  • 15
  • 10
  • 5

5 10 15 20 25 Revenue EBITDA EBIT Net Profit Revenue Growth EBITDA Growth Million Baht Percent(%) (Unit: Million)

Historical Performance Income Statement

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Financial Statement (Cont’d)

Million Baht (Unit: Million)

Cash Flow Statement Balance Sheet

30 Sep 2008 30 Jun 2009 Cash

3,937.37 5,290.03

Other Current Asset

20,748.75 16,232.73

Non Current Asset

121,769.85 124,713.19

Total Assets

146,455.97 146,235.95

Current Liabilities

10,388.59 11,217.10

Long Term Loan

58,564.52 60,465.72

Other Non Current Liabilities

1,194.47 547.60

Total Liabilities

70,147.57 72,230.42

Shareholder’s Equity

76,308.39 74,005.53

Total Liabilities & Shareholder’s Equity

146,455.97 146,235.95

Beginning Cash Flow

3,937.36

Cash Flow from Operation

5,921.15

Cash Flow from Investment

1,472.90

Cash Used in Financing

(6,041.38)

Ending Cash Flow

5,290.03

Total Loan (Million Yen)

199,210.76

Disbursed Amount

96.99%

Repayment Amount

16,992.75

Hedged Percentage of Total Loan

77.68%

Average Interest Rate

5.01%

Long-Term Loans

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30 Sep 2006 30 Sep 2007 30 Sep 2008 30 Jun 2009 Par Value (THB) 10.00 10.00 10.00 10.00 Market Price (THB) 58.00 62.00 31.00 26.75 BV/share 49.81 48.78 53.42 51.80 P/BV 1.16 1.27 0.58 0.52 EPS 7.26 0.77 5.12 1.03 P/E 7.98 80.51 6.05 23.06 Gearing (%) 0.80 0.78 0.79 0.87 Net Gearing (%) 0.52 0.63 0.74 0.80 80 ROE 14.72% 1.57% 9.59% 1.98% ROA 6.96% 0.76% 5.00% 1.00%

Financial Ratios

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

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Future Airport Development

Investment Cost (billion baht) Expected Timeframe Additional Capacity

  • 1. Domestic Passenger

Terminal 9.13 2010 - 2013

  • 20M Pax pa.
  • 15 contacted gates
  • 2. Midfield Concourse and

related facilities 73.74 2011 - 2016

  • 15M Pax pa.
  • 28 contacted gates
  • 19 flights/hr.
  • Total investment costs: Baht 5.79 b
  • Accommodate additional of 6 million PAX pa.
  • Project Timeframe: 2009 - 2013
  • New International Passenger Terminal
  • Renovation of the Existing Terminal
  • Apron
  • Other related facilities

Phuket International Airport Suvarnabhumi Airport

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Suvarnabhumi Airport

  • Commercial Activities

Management near long-team parking area

  • Community Mall
  • Central Warehouse
  • Aircraft Maintenance Center
  • Car Care Center and Showroom
  • Water Production and Distribution

Future Projects for Commercial Activities

Don Muang International Airport

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

Phuket International Airport

  • Private Jet Terminal

Had Yai International Airport

  • Express Way Center

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Noise Compensation

Total Impacted Houses (15,888) NEF > 40 (605) NEF 30-40 (15,283) Purchase (211) Insulation (394) Insulation (15,283)

Houses Amount (million baht) NEF > 40 309.54 Purchased 50 226.90 Insulated 322 82.64 NEF 30-40 307.45 Insulated 242 59.82 Sensitive Area 16 247.63 Total 616.99 KMITL* 214.00

Proceeded Planned

* KMITL: King Mongkut’s Institute of Technology Ladkrabang

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Thank hank you you ve very m y muc uch h

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