BTS GROUP HOLDINGS PCL INVESTOR PRE RESENTATIO ION JU JUNE 20 2019
IR IR Contact ct Add ddress: BTS Group Holdings PCL IR Department 15 th Floor, TST Tower, 21 Soi Choei Phuang, Viphavadi-Rangsit Rd. Chomphon, Chatuchak, Bangkok, Thailand 10900 Telephone: +66(0) 2273 8611-15 Fax: Fax +66(0) 2273 8610 Email: ir@btsgroup.co.th Website: We www.btsgroup.co.th Dis isclaimer This document has been prepared and distributed by the Investor Relations Department of BTS Group Holdings PCL (“BTSG”) solely for information purposes. It does not represent or constitute an offer, invitation, recommendation or solicitation to trade shares in BTSG and should not be relied on as such. Some of the information in this document has not been independently verified, and also includes information made available from public sources and other third party opinion or analyst. BTSG does not monitor or control the content of third party opinion or statements and does not endorse or accept any responsibility for the content or the use of any such opinion or statements. Thus, BTSG assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the information described herein. None of BTSG or any of its agents, or all of their respective affiliates, or representatives shall have any liability (in negligence or otherwise) for any loss howsoever arising from any use of this document or its contents or otherwise arising in connection with this document. All information contained in this document is presented as of the date indicated within, and BTSG assumes no duty to confirm, revise or update the information. Certain statements in this document may be deemed to contain forward-looking statements, including the statements included or incorporated with the words "believe", "anticipate", "estimate", "target", or "hope", or that otherwise relate to objectives, strategies, plans, intentions, beliefs or expectations or that have been constructed as statements as to future performance or events. These forward-looking statements are not guarantees of future performance and involve risks and uncertainties that could cause actual results to differ materially from historical results or those anticipated at the time the forward-looking statements are made. Thus, BTSG assumes no responsibility and makes no representations with respect to the accuracy and/or completeness of the forward-looking statements. BTSG undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. BTS Gro roup Investor r Pres Presentation 2 Prepared by BTS TS Group IR
Contents Sectio Se ion 1 BTS TS Gr Grou oup in in Br Brief ief & & Stra rateg egy & & Out utlook 2 Business Segment Profiles Mass Transit Business • Media Business • Property Business • Services Business • 3 Corporate Information 4 Financial Summary 5 Appendices BTS Gro roup Investor r Pres Presentation 3 Prepared by BTS TS Group IR
BTS Group Overview 4 Bu Busin iness Unit its with Mass ss Transit t as s our core BTS Gr Group Hol Holdin ings PCL (BTSG) ) A privately-owned conglomerate that engages in 4 business units; mass transit, media, property and services. Listed on the Stock Exchange of Thailand (SET), BTSG is a constituent member of the SET50 “ Bluechip ” Index, MSCI Asia Pacific Index and Dow Jones Sustainability Indices (DJSI). MASS TR TRANSIT MEDIA PROPE PERTY TY SERVI VICES FY 2018/19 OPE OPERATING REVE REVENUE CONTRIBUTION MEDIA 11% PROPE PERTY TY Tota tal of MASS TR TRANSIT THB 47, 47,923 mn 1% 1% 86% 86% mn SERVI VICES 2% BTS Gro roup Investor r Pres Presentation 4 Prepared by BTS TS Group IR Section 1: BTS Group in Brief, Strategy & Outlook
Strategy an and 5-Year Growth Tar argets STRATEGY As a mass transit led conglomerate, the company’s key focus is on securing ng ne new w ma mass tr transi nsit t line nes which are authorised or set by the government at both municipal and national levels. We captu ture re furthe ther value fro rom m opportu tuni niti ties whi which h cascade down wn to our othe ther ind ndepend ndentl ntly y operati ting ng busine ness uni nits ts in Media, Property and Services. 5-YEAR OU OUTLOOK Operatin Ope ting Revenue Net Recu Ne curring Profit t (after r MI) 5-Year Targeted CA CAPE PEX 31% 29% THB 131 bn TH bn 5Y CAGR 5Y CAGR THB 31.8bn THB 5.1bn 93% or THB 123bn THB 8.2bn THB 1.4bn spent on all existing and newly-secured FY 16/17 FY 21/22E FY 16/17 FY 21/22E mass transit lines * Operating revenue includes share of net profit (loss) from associated companies and JVs BTS Gro roup Investor r Pres Presentation 5 Prepared by BTS TS Group IR Section 1: BTS Group in Brief, Strategy & Outlook
Ban angkok Rai ail Mas ass Transit Market Overview Growth pot otentia ial l in mass ass tra ransit it mar arket sha share in Ba Bangkok MASTER PLAN: : 515.2 .2KM IN N 2029, , 33% MARKE KET SHARE IN N 2037 2037 RAIL MASS TR RA TRANSIT MARKE KET SHARE 1 Includes MRTA and BMA projects Sources: Office of Transport and Traffic Policy and Planning, Bangkok Metropolitan Administration Singapore Tokyo 46 46% 48 48% Hong Kong Bangkok 49 49% 13% 1. Source: OTP (http://www.otp.go.th/uploads/tiny_uploads/ DataStatistics/2562/25611012-SumData01.pdf), Singapore’s Land Transport Authority, Hong Kong’s Transport Department, MTR Corporation Limited, SMRT Corporation Limited, Japan Statistic Bureau BTS Gro roup Investor r Pres Presentation 6 Prepared by BTS TS Group IR Section 1: BTS Group in Brief, Strategy & Outlook
Contents 1 BTS Group in Brief & Strategy & Outlook Sectio Sec ion Bu Busi sines ess Se Segm gmen ent t Profi files es 2 Mass ass Tran ransit t Bu Busi siness 3 Corporate Information 4 Financial Summary 5 Appendices BTS Gro roup Investor r Pres Presentation 7 Prepared by BTS TS Group IR
Ban angkok Rai ail Mas ass Transit Net etwork Ba Bangkok rail rail mas ass tra ransit network WEEKD KDAY RI RIDERSHIP MARKET SHARE IN N 2018 (JAN-DEC) OPE OPERATING LINES: : 121.6 .6KM BEM BTS 31% 31% 1.2 1.2 mn trip 62% 62 rips 371 371,447 7 trip rips* 741,056 trip 741, rips TOTAL AVERAGE ARL WEEKDAY RIDERSHIP 7% 7% 80 80,000 trip rips 12 121.6km, 85 85 sta tati tions by by 3 3 op operators rs *BEM ridership excludes purple line, BTS and BEM based on company’s ridership report website as of 2018, whilst ARL is based on information as of DEC 18. 48.9km 44.2km 28.5 .5km BTS Gro roup Investor r Pres Presentation 8 Prepared by BTS TS Group IR Section 2.1: Mass Transit Business
BTS Lin ines 4 Lin 4 Lines - coverin ing a total l of f 13 133.4km by y 2021 1 (2.7 tim times fr from 48.9 .9km in 2018 18) BTS NET ETWORK: 13 133.4KM (115 ST STATIONS) Line km km Sta tation Rou Route te Core network 23.5 23 Mo Chit – On Nut (17.0km) EXT. XT. ZON ONE 2 National Stadium – Saphan Northern Green Line Taksin (6.5km) Mo Chit - Khu Khot 17.8km PINK PI Extension 7.5 6 Saphan Taksin – Bang Wa Khae Rai – Min Buri Zone 1 34.5km Extension 5.3 5 On Nut – Bearing COR ORE NETW TWORK Mo Chit – On Nut Zone 1 17.0km YELLOW Extension 12.6 9 Bearing – Kheha National Stadium – Lad Prao – Sam Rong Zone 2 (South) Saphan Taksin 30.4km 6.5km Extension 17.8 16 Mo Chit - Khu Khot Zone 2 (North) EXT. XT. ZON ONE 1 Gold 1.8 3 Krung Thonburi BTS On Nut – Bearing Station – Khlong San 5.3km EXT. XT. ZON ONE 1 Saphan Taksin Pink 34.5 30 Khae Rai – Min Buri – Bang Wa 7.5km GOLD PH PHASE 1 Yellow 30.4 23 Lad Prao – Sam Rong EXT. XT. ZON ONE 2 Krung Thonburi BTS Southern Green Line Station – Khlong Bearing – Kheha San 1.8km Tota tal 133.4 .4 115 115 12.6km BTS Gro roup Investor r Pres Presentation 9 Prepared by BTS TS Group IR Section 2.1: Mass Transit Business
BTS Lin ines 1999:Core Network 2012: Green Line Ext.1 2018, 2020E: Green Line Ext.2 2021E: Pink and Yellow 23.5km 12.8 .8km km 30.4 .4km 64.5 .5km Da Dark k Green: On Nut - Bearing Southern rn Green: : Samrong – Kheha Pi Pink: Khae Rai – Min Buri Routes Ro Dark Da k Green: Mo Chit – On Nut Light Green: Saphan Taksin – Nort rthern rn Green : Mo Chit - Khu Kot Yellow: Lad Prao - Samrong Light Green: National Stadium – Bang Wa Saphan Taksin Length/ Stations 23.5km / 23 stations 12.8km / 11 stations 30.4km / 25 stations 64.5km / 53 stations Au Authori rity BMA BMA BMA MRTA Contra ract Typ Type O&M Contract O&M Contract PPP Net Cost with Subsidy PPP Net Cost Contra ract Te Term 30 Years (Dec 1999 - Dec 2029) 30 Years (2012 - 2042) 25 Years (2017 - 2042) 30 Years (2021 - 2051) Southern: Operating / Status Operating Operating Oct 2021E Northern: 2020E Commencement Time Ti meline 199 999 2021E 2012 12 2018 18 2019 19 2020E Core Network Extension Southern Expected 1 st Station of Targeted Gold Line and Northern Green Targeted Pink and Yellow Zone 1 Green Ext 2 Northern Green Ext. 2 Ext.2 full commencement full commencement *Remarks In Apr 2013, The rights to net farebox revenue of Core Network until 2029 was sold to BTSGIF • BTS Group used the proceeds to invest in 1/3 units in BTSGIF • BTS Gro roup Investor r Pres Presentation 10 10 Prepared by BTS TS Group IR Section 2.1: Mass Transit Business
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