Asiasoft Corporation PLC. (AS) Asiasoft Talk 2014 3 rd March 2014
Disclaimer Agenda The information contained in this presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for shares of Asiasoft Corporation Pcl. (“Asiasoft” ) in any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. This presentation may include information which is forward-looking in nature. Forward-looking information involve known and unknown risks, uncertainties and other factors which may impact on the actual outcomes, including economic conditions in the markets in which Asiasoft operates and general achievement of Asiasoft business forecasts, which will cause the actual results, performance or achievements of Asiasoft to differ, perhaps materially, from the results, performance or achievements expressed or implied in this presentation This presentation has been prepared by Asiasoft. The information in this presentation has not been independently verified. No representation, warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information and opinions in this presentation. None of Asiasoft or any of its agents or advisers, or any of their respective affiliates, advisers or representatives, shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation This presentation is made, furnished and distributed for information purposes only. No part of this presentation shall be relied upon directly or indirectly for any investment decision-making or for any other purposes This presentation and all other information, materials or documents provided in connection therewith, shall not, either in whole or in part, be reproduced, redistributed or made available to any other person, save in strict compliance with all applicable laws Page 2
Agenda Agenda 2013 Review 2014 Outlook 2014 Strategy Page 3
2013 Review
Agenda What happened in 2013 • Mobile gaming grows at exponential rate; • eSports games including Multiplayer Online Battle Arena (MOBA) took the community with a storm; • MMO Gamers playing more games and becoming very selective in the game they play; • Games with smaller branding fails to excite the gamer community; • Online gaming environment has evolved rapidly into another new era… Page 5
Agenda Online Game Publishers Breakdown by Market No. of Game No. of Publisher Market New 2012 New 2013 Total 2013 New 2012 New 2013 Total 2013 Thai 61 75 196 11 10 47 English 0 13 39 6 2 9 Chinese 40 43 109 9 3 35 Other 11 100 325 2 14 79 Total 112 231 669 28 29 170 Page 6 Thai = ASC , Funbox ,PCG / English = ASO , ASM / Chinese = CIB / Others = TLC ,PT
Current Portfolio Agenda At the end of 2013, AS group operates 56 online game titles in 6 Number of Games by Genre countries: Web 7 Games 13% MOBA 1 Game • 2% Thailand 29 Titles FPS 5 Games • Singapore 9 Titles 10% • Malaysia 20 Titles MMORPG Casual • 35 Games Indochina 6 Titles 8 Games 62% 13% • Indonesia 2 Titles • Philippines 2 Titles Page 7 Note: Some games are operated in more than one country
Current Portfolio Agenda Web MOBA 7 Games 1 Game 13% 2% FPS 5 Games 10% MMO 35 Games Casual 62% 8 Games 13% Web MOBA Web 2 Games 1 Games 5 Games 7% 3% 14% MOBA FPS 1 Game 2 Games 3% 10% FPS Casual 4 Games 4 Games 12% 13% MMO Casual MMO 20 Games 4 Games 20 Games 59% 12% 67% Page 8 Note: some game were served in more than one country
Agenda Total Revenue Structure Domestic Overseas Singapore Malaysia Thailand Indonesia Philippines Indochina 70% 68% 66% 57% 54% Domestic 46% 43% Overseas 34% 32% 30% 2009 2010 2011 2012 2013 Page 9
Agenda Historical Performance 2009 - 2013 % Growth Unit: Million Baht FY2009 FY2010 FY2011 FY2012 FY2013 FY2012 FY2013 Revenue 1,472.70 1,539.61 1,684.52 2,016.32 1,714.77 ▲ 19.7% ▼ 15.0% < By Region > Domestic 999.50 1,082.60 1,112.30 1,154.87 927.57 ▲ 3.8% ▼ 19.7% Overseas 473.10 457.01 572.22 861.45 787.20 ▲ 50.5% ▼ 8.6% < By Business Type > Online 1,195.30 1,359.60 1,515.83 1,661.97 1,529.91 ▲ 9.6% ▼ 7.9% Distribution 216.80 124.40 91.97 277.68 114.89 ▲ 201.9% ▼ 58.6% Others 60.50 55.70 76.70 76.67 69.97 ▼ 0.0% ▼ 8.7% COGS ▲ 24.8% ▲ 2.9% 822.60 793.50 900.58 1,124.35 1,156.94 Gross Profit ▲ 15.0% ▼ 37.6% 650.10 746.10 736.99 847.59 528.55 % GP 44.10% 48.50% 45.01% 42.98% 31.36% SG&A ▲ 22.5% ▼ 6.5% 374.20 378.90 418.95 513.40 480.05 % SG&A 25.41% 24.61% 24.87% 25.46% 28.00% EBIT ▲ 3.7% ▼ 79.5% 275.90 367.20 364.96 378.56 77.79 % EBIT 18.73% 23.85% 21.67% 18.77% 4.54% Net Profit ▼ 0.8% ▼ 82.3% 178.50 264.47 296.41 293.98 51.94 % NP 12.10% 17.20% 17.60% 14.58% 3.03% Basic EPS (Baht) 0.60 0.87 0.97 0.96 0.17 Page 10
Revenue by Business (Yearly) Unit: THB mn 15.0% Y-Y 1,684.52 2,016.32 1,714.77 2,000.00 45.0% 1,661.97 43.0% 1,529.91 1,515.83 1,500.00 31.4% 1,000.00 500.00 277.68 114.89 91.97 46.95 44.38 40.68 29.77 32.29 29.29 - FY11 FY12 FY13 Online Income Distribution Income Advertising and Other Income Other Revenues %Gross Margin Online Revenue - 7.9 % Y-Y Distribution - 58.6 % Y-Y Other Revenue - 36.3 % Y-Y Advertising 26.0 % Y-Y Page 11
Game launched in 2013 and 2012 Genre Launched 2013 Launched2012 Game Genre Actual Planned Actual Planned MMORPG 8 20 8 11 Casual 1 2 4 6 FPS - 2 - 1 WEB 1 5 4 4 Total 10 29 16 22 Page 12
Agenda Revenue by business Advertising Advertising Advertising Other 2% 2% 2% Other Other 3% Distribution 2% 2% Distribution Income Distribution Income 7% Income 5% 14% Online Online Online Income Income Income 89% 90% 82% 2013 2011 2012 Page 13
Agenda Revenue Breakdown by Genre Web game Web game MOBA MOBA FPS FPS 4.2% 1.1% 0.0% - 4.3% 13.7% Casual MMORPG 18.9% MMORPG 68.2% Casual 72.5% 16.9% • Revenue contribution from FPS YoY increased from 4.3% to 13.7% of total revenue. Page 14
COGS Analysis FY12 COGS FY13 COGS Depreciation Depreciation Other Cost Other Cost 3% 8% 3% 3% Network Network Service Service 10% 10% Direct Cost 13% Direct Cost Royalty Fee Royalty Fee 9% 55% 52% Employee Expenses Employee 16% Expenses 18% 2.9% Y-Y Total COGS is THB 1,124.35 mn Total COGS is THB 1,156.93 mn Page 15
SG&A / Total Sales (Yearly) -6.5% Y-Y % Unit: THB mn 600.0 28.5 28.00 28.0 500.0 27.5 27.0 400.0 26.5 26.0 25.46 300.0 25.5 24.87 25.0 418.95 200.0 24.5 480.05 24.0 100.0 513.4 23.5 0.0 23.0 2011 2012 2013 SG&A SG&A/Total Sales Page 16
Write-off by Market Agenda Thai English Chinese Others • This is an • This is an • This is an • 22 games • 3 games • 5 games • 10 games example example example • 79 MB • 6 MB • 11 MB • 10 MB text text text • 40 games • Go ahead • Go ahead • Go ahead • 106 MB and place and place and place your your your own text own text own text ample text Example ample text Total 2012 Total 2013 text • 40 games • 10 games • 106 MB • 40 MB Page 17 Thai = ASC , Funbox ,PCG / English = ASO , ASM / Chinese = CIB / Others = TLC ,PT
Agenda Net Profit (Yearly) Unit: THB mn -82.3% Y-Y 350.00 17.60% 300.00 14.58% 250.00 200.00 150.00 296.41 293.98 100.00 3.03% 50.00 51.94 - FY11 FY12 FY13 Net Profit Net Profit Margin Page 18 Note: Net Profit attributable to equity holders of the parent
Agenda Balance Sheet Structure Dec 31, 2012 Dec 31, 2013 %Chg Unit: THB mn 2,045 1,741 -14.8% Assets 644 523 -18.8% Liabilities 1,401 1,218 -13.1% Equities 0.45 0.43 D/E Ratio Total Liabilities 2,045 644 1,741 523 Non-curent LIABILITIES LIABILITIES Lia. 56 Total Assets Current Lia. 457 Current Asset Non- Total Equity 1,401 1,218 799 Current Asset Registered Paid-Up 942 307 EQUITY EQUITY ASSET ASSET Non Controlling Share 104 Premium 797 Return Earning 10 Page 19
Summary 2013 Agenda Major Write-Off Reduced 19 Games Postponed Revenue and Profit Intense MOBA Competition Strong Mobile Competition Page 20
2014 Outlook
Agenda What is happening in 2014 • eSports games continue to overwhelm the gaming community; • MMO Gamers playing ignore small games and try big titles; • Mobile gaming becoming overly crowded and saturated; • Developers work with regional publishers instead of individual country publisher; • Gamers are getting more creative with their own content creation. Page 22
Agenda 2014 Outlook Grow eSports & MOBA revenue contribution to 5% Grow mobile revenue contribution to 5 % Grow Group revenue by 25% *Excluded Level Up Inc. (PH) Page 23
2014 Strategy
Agenda Strategy 2014 eSports & MOBA Global Regional Contents Mobile Contents Territory Expansion Total Online Entertainment Page 25
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