Asiasoft Corporation PLC. (AS) Opportunity Day 1Q 2013 22 May 2013 - - PowerPoint PPT Presentation

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Asiasoft Corporation PLC. (AS) Opportunity Day 1Q 2013 22 May 2013 - - PowerPoint PPT Presentation

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Asiasoft Corporation PLC. (AS) Opportunity Day 1Q 2013 22 May 2013 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

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Opportunity Day 1Q 2013

Asiasoft Corporation PLC. (AS)

22 May 2013

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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

  • f 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

  • r 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

Disclaimer

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Agenda

Agenda

Overview and Q1 2013 Results Thailand Market Highlights Regional Market Highlights Next Step 2013 Appendices

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Overview

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Agenda

Asiasoft Regional Coverage

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Agenda

Current Portfolio

At the end of 1Q13, AS group operates 64 online game titles in 6 countries:

  • Thailand

36 Titles

  • Singapore

9 Titles

  • Malaysia

22 Titles (CIB 21 Titles)

  • Indochina

7 Titles

  • Indonesia

3 Titles

  • Philippines

2 Titles

MMORPG 40 Games 62% Casual 10 Games 16% FPS 7 Games 11% Web 7 Games 11%

Number of Games by Genre

Source: Some games are operated in more than one country

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Agenda

Consolidated Business Highlights in 1Q13

  • New Game Launch
  • Thailand (1): Pocket Ali (Jan) Funbox
  • Malaysia CIB (1): The Exorcist (Mar)
  • Singapore (1): RO2 (Jan)
  • Distributed Product
  • Launch of StarCraft II: Heart of the Swarm on 12 March 2013
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Agenda

MMORPG

Playpark Game Portal

Playpark Game Portal

MOBA BIZZARD FPS CASUAL WEB

CHAOS ONLINE Launch by PlayCyberGames Commercial Date: 29 May 2013

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Agenda

Social Games Partner Games Shooting Games MMORPG & Casual Games

7 SKU : 55, 89, 189, 245, 349, 450, 888 Fixed Price 6 SKU : 50, 90, 150, 300, 500, 1000 Fixed Price Non-Fixed Price 50 - 10,000

Our Service : Game Top-Up

5 SKU : 50, 100, 300, 500, 1000 Fixed Price

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Q1 2013 Results

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1Q 2013 Highlights

Revenue increase YoY

  • Core-Revenues increased 14.6%YoY, mainly due to 2 new business

units (Malaysia - CIB & Indochina - TLC) generated revenue for group about 65 MB (Million Baht) Revenue from Overseas markets matching Domestic market

  • Revenue contribution from overseas markets increased from 35.0%

to 49.6% YoY. Net Income decreased YoY

  • GP% of Funbox and PT Asiasoft significantly dropped from 48.9%

and 43.7% to -30.8% and -138.8%, respectively due to under delivery

  • f revenue target.
  • GP% of new businesses included TLC and CIB are lower than group

NP%. TLC of 16.9% mainly due to higher royalty and operating costs and CIB of 39.6% mainly due to higher operating costs.

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Agenda

Overseas

Singapore Malaysia Indonesia Philippines Indochina

Domestic

Thailand

  • Plus Sublicense

revenue in Vietnam

Total Revenue Structure

68% 70% 66% 57% 51% 32% 30% 34% 43% 49%

2009 2010 2011 2012 1Q13 Thailand Overseas

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1Q13 Total Revenue Breakdown

Online Income 85% Distribution Income 10% Advertising 2% Others 3% Online Income 87% Distribution Income 12% Others 1%

GROUP

DOMESTIC OVERSEAS

Online Income 86% Distribution Income 10% Advertising 2% Others 2%

Total Revenue is THB 468.88 mn

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Agenda

Employee 45% Rental and Center Services 13% Depreciation 7% Others 35%

COGS Selling Expenses

Total COGS is THB 287.67 mn Total Selling Exp. is THB 29.76 mn Total Admin. Exp. is THB 85.64 mn

1Q13 Group Cost Breakdown

Administrative Expense

Royalty Fee 55% Employee Expense 18% Direct Cost 12% Network and Service 9% Depreciation 3% Others 3% Employee 25% Others 3% Commission 1% Marketing 71%

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Agenda

Revenue Breakdown by Genre

  • Revenue from FPS increase from 5.2% to 12.1% Y-Y
  • Revenue from MMO increase from 67.7% to 70.3% Y-Y

MMORPG 67.7% Casual 20.1% FPS 5.2% Web- Based 7.0% MMORPG 70.0% Casual 17.3% FPS 11.6% Web- Based 1.1% MMORPG 70.3% Casual 15.7% FPS 12.1% Web-Based 1.9%

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Agenda

Unit: THB mn

Total Revenue Trend

Growth of Total Revenue (Y-Y)

381.1 366.7 407.7 360.8 425.6 422.3 453.3 403.7 40.7 29.9 56.9 59.8 177.6 67.8 48.6 65.2 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13

Online Income Other Rev. 421.8 396.6 464.6 420.6 603.2 490.1 501.9 468.9

  • 6.5 % Q-Q

+ 11.6 % Y-Y

19.0% 7.1%

  • 2.8%

2.8% 43.0% 23.6% 8.0% 11.6%

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Agenda

361 426 422 453 404 60 177 68 48 65 45.0 40.0 43.0 45.0 37.0 30 35 40 45 50 55 100 200 300 400 500 600 700 800 900 1Q/12 2Q/12 3Q/12 4Q/12 1Q/13

Online Revenue Other Rev. Gross Margin

%

Total Revenue

421 603 490 502

Unit: THB mn

469

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Agenda

%

SG&A / Total Sales

Unit: THB mn

105 118 133 143 115 25.0 19.6 27.0 28.4 24.6 0.0 5.0 10.0 15.0 20.0 25.0 30.0 20 40 60 80 100 120 140 160 1Q/12 2Q/12 3Q/12 4Q/12 1Q/13

SG&A SG&A/Total Sales

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Agenda

Unit: THB mn

Net Profit Trend

83.8 68.6 74.1 73.1 90.0 66.4 74.5 51.9 19.9% 17.1% 15.9% 17.4% 14.9% 13.6% 14.8% 11.1% 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13

Net Profit Net Profit Margin

  • 30.1% Q-Q
  • 29.1% Y-Y

Growth of Net Income (Y-Y)

13.4% 17.2% 7.1% 4.1% 7.6%

  • 8.9%

5.7%

  • 29.1%

Note: Net Profit attributable to equity holders of the parent

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Agenda

%

Net Profit

Unit: THB mn

Note: Net Profit attributable to equity holders of the parent 73.1 90.0 66.4 74.5 51.9 17.4 14.9 13.6 14.8 11.1 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 10 20 30 40 50 60 70 80 90 100 1Q/12 2Q/12 3Q/12 4Q/12 1Q/13

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Agenda

Top 5 Online Games by Revenue

MapleStory 25% Audition 18% Cabal 8% Yulgang 7% Pocket Ninja 7% MapleStory 17% Audition 15% Dragon Nest 12% M.A.T 9% Yulgang 7%

  • Top 5 Games accounted for 60% of total revenue compared to last year of 65%
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Agenda

Balance Sheet Structure

Liabilities 551

Asset

2,045

Equity

Liabilities 644

Equity Asset

FY 2011 FY 2012 1Q 2013

1,869 1,318 1,401

Asset

1,996

Equity

Liabilities 562 1,434

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Thailand Market Highlights

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Agenda

Thailand Market Highlights

Revenue decrease YoY

  • Domestic revenue drop by 12% due to significantly revenue shortfall

from FunBox as a result of decreasing online revenue of pocket ninja game, Q Tail online and HY2. Net Income decreased YoY

  • GP% of Funbox dropped from 48.9% to -30.8% due to under delivery
  • f revenue target;
  • ASC NP% is lower mainly due to lower margin packaged product

sales from Starcraft II. Despite decreasing revenue, Asiasoft maintained the market leadership with more than 30% overall market share (by CCU).

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Agenda

Asiasoft/Funbox 55% TDE/NC True 5% INI3 Digital 5% Winner Online 10% Others 25% Asiasoft/Funbox 13% PlayInter 32% TDE/NC True 34% Winner Online 12% Others 9% Proportion base on Max CCU end of Dec 10

MMOPRG FPS

Remark : base on Average Max CCU Q1/13 Asiasoft/Funbox 35% TDE/NC True 10% Winner Online 0% Others 32% PlayInter 100%

MOBA CASUAL Web Game

Asiasoft/Funbox 30% TDE/NC True 10% Winner Online 6% INI3 Digital 7% Golden Soft 4% PlayInter 26% Others 17% Asiasoft/Funbox 16% INI3 Digital 21% Others 63%

1Q13 Online Game Breakdown by Game Type

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Agenda

MMORPG 39% Casual 13% FPS 19% WEB 9% MOBA 20% MMORPG Casual FPS WEB MOBA

Remark : base on Average Max CCU Q1/13

Online Game Breakdown by Game Type

MMORPG 45% Casual 11% FPS 21% WEB 10% MOBA 13% MMORPG 51% Casual 11% FPS 21% WEB 10% MOBA 7%

Market trends to shift to MOBA type

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Agenda

YulGang Ragnarok Dragon Nest ray city DK Online Everybody's Marble Audition PANGYA Zone4 Mstar Special Force Point Blank xshot AVA S4League Boomz Pocket Ninja Atlantis Warriors Fashion Dream DivoSaga Remark : base on Average Max CCU Q1/13 (except Fashion Dream based on Average Unique Viewer Q1/13) Heroes of Newerth League of Legends

  • Asiasoft is taking lead in MMORPG & Casual Genre and

are gaining market share in Web Games & FPS.

  • Asiasoft subsidiary, Play Cyber Game is launching

“Chaos” in MOBA market in Q2 /2013

1Q13 Top 5 Online Games by Genre in Thailand

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Regional Market Highlights

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Overseas Market Highlights

Revenue increase YoY

  • Overseas revenue increased by THB 65 million from contribution of 2

new business units (Malaysia – CIB & Indochina - TLC).

  • English market (ASO & ASM) generated increasing revenues with

combined growth of 30%, contributed mainly by Ragnarok2 and Starcraft II sales Net Income increase YoY

  • Overseas Profits increased by more than 16% YoY primarily due to

the strong revenue and profit from the English market and also additional profit contribution from the 2 new businesses. We’ve extended our overseas presence and revenue contribution from overseas increased significantly from 35% in 2012 to 49.5% this quarter, in line with our regionalization strategy.

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Agenda

Asiasoft 47% NHN SG 10% Cherry Credits 33% Other 10% IAH 11% Cherry Credits 47% Asiasoft 24% Eagle 18%

CASUAL

Garena 31% Sea Gaming 33% IAH 12% M1 11% DF interactive 11% Asiasoft 2%

Asiasoft 29% Garena 27% Cherry Credits 23% Other 21%

Garena 100% Viwawa 100%

Web Game MOBA FPS MMORPG

Overall

1Q13 Online Game Breakdown by Game Type

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Agenda

FPS (Total 6 games) MMORPG (Total 8 games) Casual (Total 6 games)

Source: Company’s data based on Q1 2013 Avg. Max CCU

1Q13 Top 5 Online Games by Genre in Singapore

MapleSEA Dragon Nest Dragon Saga SEA Forsaken World Fairyland 2 SD Gundam Audition High Street 5 Fifa Online 2 SuperStar Live World of Tanks Blackshot Counter Strike Online Special Forces Mission Against Terror

Web Game (Total 2 games/Portal)

Viwawa Webportal Mahjong Hime

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Agenda

MOBA (Total 2 games)

Source: Company’s data based on Q1 2013 Avg. Max CCU

1Q13 Top 5 Online Games by Genre in Singapore

Heroes of Newerth League of Legend

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Agenda

CASUAL Other 22% Asiasoft 44% CIB 25% Cubinet 6% Koram 3%

  • n988

100%

Web Game MOBA FPS MMORPG

Overall

1Q13 Online Game Breakdown by Game Type

MyCNX 25% GoPlayPlay 17% Funnel 22% RMS 15% Gameview 5% Other 16% Asiasoft 47% CIB 53% Cubizone 0% Eagle Game 51% CIB 36%

  • n988

13% Cubinet 6% Asiasoft 58% CIB 11% Koram 5% Runup 3% Other 17%

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Agenda

Source: Company’s data based on Jan - Mar 2013 Avg. Max CCU

1Q13 Top 5 Online Games by Genre in Malaysia

Cabal 九阴真经 SDO-X2 ShowTime SEA High Street 5 Steps Sudden Attack Mission Against Terror Special Force Boomz DDT 傲剑 GV神將 传奇 Bubble Ninja Crazy Shooter Online 天龙八部 西游释厄传 Ninjawar z RO2

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Agenda

  • AS ID had no market share in web and casual game yet., moba is new segment in the market, ccu cant be measured detail yet.

Others 44% Kreon 27% Lyto 15% WaveGame 6% Orange 3% Asiasoft 1%

RPG

Kreon 63% Megaxus 5% Lyto 1% IAH Game 1% modo 27% Others 3%

CASUAL

Kreon 87% Megaxus 5% Lyto 3% Winner 2% Asiasoft 1% Others 3%

FPS/TPS

OrangeGa me 17% Orange 25% WaveGa me 11% faveo 13% prodigy 16% Others 32%

WEB

Kreon 62% Lyto 6%Megaxus 4% WaveGame 2% Prodigy 2% Asiasoft 1% Others 23%

TOTAL

1Q13 Online Game Breakdown by Game Type

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Agenda

Dragon Nest Atlantica Online heva online perfect world 3 kingdom

Lost Saga modo marble ayodance elsword idol street

dynasty war ninja kita harvest moon pirate king crystal epic

1Q13 Top 5 Online Games by Genre in Indonesia

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Next Steps

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Agenda

New Game Launch in 2Q13

Shinchan Online : Cute Action MMO

The funniest action MMORPG from the hot hit anime ‘Crayon Shin-Chan'

From the popular Japanese cartoon, easy to play and contain a lot of mini game. launched Dates: 1th week April

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Agenda

New Game Launch in 2Q13

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New Game Launch in 2Q13

Asiasoft first online soccer management game!

From OFFLINE game such as CM, FM become FCM ONLINE

launched Dates: CBT: 4th week June

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Appendices

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Agenda

Authorized Capital: THB 307,407,762 Paid-up Capital: THB 307,407,762 Par Value: THB 1.00 Foreign Limit: 49% Dividend Policy: At least 30.0% of net profit Business: At the end of 1Q13, AS procures 64 online game titles (including 19 titles of CIB’s) operating in 6 countries:

  • Thailand

36 Titles

  • Singapore

9 Titles

  • Malaysia

22 Titles (CIB 21 Titles)

  • Indochina

7 Titles

  • Indonesia

3 Titles

  • Philippines 2 Titles

Total 64 Titles

Services: MMORPG ● Casual Games ● FPS ● Web Games ● Game Portal ● Music Online Company: Asiasoft Corporation Plc. (AS) Foundation: September, 2001 1st Day Trading: 29 May 2008 Website: www.asiasoft.net Employee:

  • Approx. 950 (Dec 2012)

Territory: Thailand, Singapore, Malaysia, Vietnam, Indonesia, and Philippines CEO:

  • Mr. Pramoth Sudjitporn

Ownership:

Company at a Glance

Most of online games are free to play but users can purchase item in game to enhance the game experience. Some particular MMORPG will be charged by playing time. Management 71% Foreign Institution 10% Individual 19%

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Agenda

Thailand Overseas

Asiasoft Online Pte. Ltd. (ASO) AS Online Sdn. Bhd. (ASM)

100.00%

Playcybergames

Co., Ltd.

Asiasoft International Co., Ltd. (ASI) Online Game Publisher

Online Game Publisher in Malaysia Online Game Publisher in Singapore Investment Company Game Portal & Entertainment Services on Websites

Paid-up capital THB 307.4 m

A Capital Co., Ltd.

99.99% 99.99% 99.99% 59.99% 100.00%

Funbox Co., Ltd.

Online Game Publisher

Shareholder Structure:

  • 1. Founders 71.13%
  • 2. Asia Investment 9.76%

Partners Limited Free Float 18.29%

Investment Company

  • PT. Asiasoft (ASID)

Online Game Publisher in Indonesia

79.90% 40% 30%

Cybergames Corporation Co., Ltd.

Thaiware Communication Co., Ltd.

Website Services Internet Gaming Services CIB Development Sdn.

  • Bhd. (CIB)

61.68%

Online Game Publisher in Malaysia Paid-up SGD 2 .0 m Paid-up RM 4.0 m Paid-up USD 1.0 m Paid-up RM 1.0 m Paid-up THB 112.0 m Paid-up THB 20 m Paid-up THB 1.0 m Paid-up THB 1.5 m Paid-up THB 40.0 m

PlayPark Co., Ltd.

99.99%

Paid-up THB 5 .0m Paid-up THB 20 m Online Game Publisher

Group Structure and Business

Trilight Cove Enterprises Ltd.

Paid-up USD 1 m Online Game Publisher in Indochina

60.00%

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Agenda

ASO

(Singapore)

(100%)

Sublicensed to CTCM

(Vietnam)

ASM

(Malaysia)

(100%) Funbox

(Thailand)

(99.99%)

ASID

(Indonesia)

(79.90%) Thaiware

(Thailand)

(40%)

Cybergames (Thailand)

(30%) CIB

(Malaysia)

(61.68%) ASPH

(Philippines)

(Branch

Office)

Playcyber games

(Thailand)

(59.99%) Trilight (for

Indochina)

(60%)

2011 2012 2001 2005 2007 2008

Historical Investment

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Agenda

Genre of Online Games

MMORPG

Massively multiplayer online role-playing game is a genre

  • f computer role-playing games in which a very large

number of players interact with one another within a virtual game world.

CASUAL GAME

Online game with cute, colorful cartoon characters which is normally relatively easy to

  • play. Gamers do not need to spend long time or

high skills to play and can usually finish the game in a short period of time, thus making the game suitable for relaxation

FPS

First-person shooters are a type of 3D shooter game featuring a first person point of view with which the player sees the action through the eyes of the player character.

Web Game

Web Game played over the Internet using a web browser. Browser games can be created and run using standard web technologies or browser plug-ins. Browser games include all video game genres and can be single-player or

  • multiplayer. Browser games are also portable and can be

played on multiple different devices or web browsers.

RTS

Real time strategy games offer an excellent blend of action and strategy. The majority of RTS games are played in a bird's eye or top down perspective allowing players easy navigation and jump around to control units and buildings across game maps and campaigns. Unlike turn based strategy games where you have the ability to take your time, in real time strategy games, all movement, construction, combat, research and more are all occurring in real time.

MOBA

Multiplayer Online Battle Arena is a sub-genre of the

  • RTS. The gameplay is characterized by single unit hero

strategic combat between two small teams of players, each trying to destroy the opponent's base

Social Game

A social network game is a type of online game that is played through social networks, and typically features multiplayer and asynchronous gameplay mechanics. Social network games are most often implemented as browser games, but can also be implemented on other platforms such as mobile devices

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Agenda

Consolidated Performance

Items Q1Y12 Q4Y12 Q1Y13 YoY QoQ

Total Revenues 420.54 501.84 469.13 ▲ 11.6% ▼ 6.5% Revenues 402.22 492.73 460.77 ▲ 14.6% ▼ 6.5% <By Region> Domestic 261.32 281.45 232.62 ▼ 11.0% ▼ 17.3% Oversea 140.90 211.28 228.15 ▲ 61.9% ▲ 8.0% <By Business Type> Online 360.79 453.04 403.67 ▲ 11.9% ▼ 10.9% Distribution 34.29 29.72 48.73 ▲ 42.1% ▲ 64.0%

Advertising and others

7.15 9.97 8.37 ▲ 17.1% ▼ 16.0% COGS 220.55 271.54 287.67 ▲ 30.4% ▲ 5.9% Gross Profit 181.68 221.19 173.10 ▼ 4.7% ▼ 21.7% GP% 45.2% 44.9% 37.6% SG&A 105.32 142.66 115.40 ▲ 9.6% ▼ 19.1% SG&A% 25.0% 28.4% 24.6% Other Revenues 18.32 9.11 8.36 ▼ 54.3% ▼ 8.2% EBIT 94.68 87.64 66.06 ▼ 30.2% ▼ 24.6% EBIT% 22.5% 17.5% 14.1% EBITDA 133.94 127.02 110.86 ▼ 17.2% ▼ 12.7% EBITDA% 31.8% 25.3% 23.6% Tax 21.75 10.19 15.80 ▼ 27.3% ▲ 55.1% Non-controlling interests (0.24) 3.19 (2.25) ▼ 841.8% ▼ 170.4% Net Profit 73.12 74.20 51.85 ▼ 29.1% ▼ 30.1% Net Profit% 17.4% 14.8% 11.1% Major Adjustment 2.03 0.79 7.38 ▲ 263.8% ▲ 832.8% Normalized Profit 75.15 74.99 59.23 ▼ 21.2% ▼ 21.0% Normalized Profit% 17.9% 14.9% 12.6% Write-off Adjustment 0.78 5.42 7.43 ▲ 850.4% ▲ 37.1% Profit after adjustment 75.93 80.41 66.65 ▼ 12.2% ▼ 17.1%

Profit after adjustment%

18.1% 16.0% 14.2%

Unit : Million Baht

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Agenda

COGS and SG&A Breakdown

COGS SG&A

Q1Y12 Q1Y13

Royalty 138.56 165.93 34.4% 36.0% ▲ 19.7% Employee 40.07 51.50 10.0% 11.2% ▲ 28.5% Network&Maintenance 16.79 26.95 4.2% 5.8% ▲ 60.5% Depreciation 7.52 9.70 1.9% 2.1% ▲ 29.0% Direct Cost 17.61 33.59 4.4% 7.3% ▲ 90.8% Total 220.55 287.67 54.8% 62.4% ▲ 30.4%

Unit : Million Baht

Items Q1Y12 Q1Y13 % to Core Revenue %Change Q1Y12 Q1Y13

Employee 45.43 49.73 10.8% 10.6% ▲ 9.5% Marketing 24.14 20.88 5.7% 4.4% ▼ 13.5% Rental&Utilities 13.54 15.25 3.2% 3.3% ▲ 12.6% Depreciation 5.44 6.06 1.3% 1.3% ▲ 11.3% Others Selling 3.33 1.33 0.8% 0.3% ▼ 60.1% Other Administrative 13.44 22.16 3.2% 4.7% ▲ 64.9% Total 105.32 115.40 25.0% 24.6% ▲ 9.6%

Unit : Million Baht

Items Q1Y12 Q1Y13 % to Core Revenue %Change

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