BTS GROUP HOLDINGS PCL FY 2017/18 EARNINGS PRESENTATION SET - PowerPoint PPT Presentation

BTS GROUP HOLDINGS PCL FY 2017/18 EARNINGS PRESENTATION SET OPPORTUNITY DAY 4 JUNE 2018 prepared by Investor Relations department BTS Group Holdings PCL

Disclaimer Investment involves risk. Prospective should understand the characteristics of Securities and study information about BTS Group Holdings Public Company Limited (the “Company”) before making a decision to invest in Securities. This presentation is for information purposes only and is intended only for the initial direct attendee of the presentation. It may not be reproduced or redistributed to any other person. It shall not and does not constitute either an offer to purchase or buy or a solicitation to purchase or buy or an offer to sell or exchange or a solicitation to sell or exchange any securities of BTS Group Holdings PCL (the "Company") or any of its subsidiaries in the United States of America or in any other jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its existence, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. This presentation is not to be relied upon in any manner as legal, tax or any other advice and shall not be used in substitution for the exercise of independent judgment and each person made aware of the information set-forth hereof shall be responsible for conducting its own investigation and analysis of the information contained herein. Except where otherwise indicated, the information provided in this presentation is based on matters as they exist as of the date stated or, if no date is stated, as of the date of preparation and not as of any future date, and the information and opinions contained herein are subject to change without notice. None of the Company nor any of its subsidiaries accepts any obligation to update or otherwise revise any such information to reflect information that subsequently becomes available or circumstances existing or changes occurring after the date hereof. None of the Company or any of its subsidiaries or any of their respective directors, officers, employees or agents shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with the presentation and any and all such liability is expressly disclaimed. The information contained herein must be kept strictly confidential and may not be reproduced or redistributed in any format without the express written approval of the Company. Some statements made in this presentation are forward-looking statements, which are subject to various risks and uncertainties. These include statements with respect to the Company’s corporate plans, strategies and beliefs and other statement that are not historical facts. These statement can be identified by the use of forward-looking terminology such as “may”, “will”, “expect” , “intend”, “estimate”, “continue”, “plan” or other similar words. The statements are based on the assumptions and beliefs of the Company’s management in light of the information currently available to the Company. These assumptions involve risks and uncertainties which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Nothing in this Presentation is, or should be relied on as promise or representation of the Company as to the future. BTS Group Earnings Presentation 2

Agenda Section 1 BTSG FY 2017/18 FINANCIAL PERFORMANCE Section 2 BUSINESS UPDATES APPENDICES BTS Group Earnings Presentation 3

FY 17/18 BTS Group Key Milestones For more details, please refer to FY17/18 BTS MD&A: significant events MASS TRANSIT MEDIA PROPERTY BTS GROUP 16 JUN 2017 3 MAY 2017 26 DEC 2017 30 JUN 2017 MACO acquired 70% in Concession Contract signed U City signed an agreement The issuance of THB 7bn Senior for the Pink and Yellow Lines CO-MASS to invest in office building at Unsecured Debentures with “A 6-14 Underwood Street, / Stable” credit rated by TRIS 5 MAR 2018 1 OCT 2017 London, UK VGI partnered with AIS to 8 January 2018 Fares increased on Single strengthen Rabbit Group BoD approved interim dividend Journey Tickets (SJT), Rabbit 29 JUN 2017 ecosystem of FY 2017/18 monthly pass and Rabbit Ground breaking ceremony of (THB 0.165/share) senior tickets in the Core FY 17/18 Phayathai Complex Project Network integrated offline Out-of- 28 May 2018 BoD approved final dividend of Home (OOH) and online 10 OCT 2017 FY 2017/18 digital platform to be the 16 MAR 2018 Syndicated Loan Agreement “Offline -to- Online (O2O)” (THB 0.185/share) Property Restructuring signed for financing the Pink solution (the completion of EBT of UE 28 May 2018 and Yellow Lines to U City) BoD approved the issuance of 23 APR 2018 new warrant (BTS-W4) up to VGI intended to invest 23% of 1,755mn units at a ratio of 9:1 shares in Kerry Express with exercise price of THB 10.5 (Thailand) BTS Group Earnings Presentation prepared by Investor Relations department 4 BTS Group Holdings PCL Section 1: FY 2017/18 Financial Performance

FY 2017/18 Financial Highlights PROFITABILITY • Operating EBITDA was THB 4,089mn, rose by THB 1,161mn or 39.6% YoY • Reported net profit (after MI) was THB 4,416mn, increased by 120.4% YoY mainly from higher recurring profit and extraordinary gain from property restructuring • Net recurring profit (after MI) of THB 2,515mn, an increase of 77.5% YoY BALANCE SHEET • Balance sheet strength: THB 30.1bn cash & liquid investments* • Low leverage: Adjusted net D/E at 0.37x *Cash and liquid investments include cash bal. of THB 9.5bn, current investments of THB 5.7bn, L/T investments of THB 14.9bn CASH FLOW • Investment phase; including; • (CFO) Investment in E&M works and train procurement for Southern and Northern Green line extensions of THB 6bn • (CFO) An advance payment for civil works and E&M works of Pink and Yellow lines of THB 8.2bn • (CFI) Purchases of investment in associates of THB 3.2bn mainly from an increase in stake in U City • (CFF) Cash received from long-term debentures of THB 7bn and JV partners (STEC&RATCH) of THB 2.25bn for 25% equity investment in Pink and Yellow lines DIVIDEND • The final dividend payment for FY 2017/18 up to THB 2,922.1mn or THB 0.185 per share, subject to shareholders’ approval, based on the closing share price on 25 May 2018 at THB 9.50 (one day before BOD date), this is equivalent to an annual dividend yield of 3.95% BTS Group Earnings Presentation prepared by Investor Relations department 5 BTS Group Holdings PCL Section 1: FY 2017/18 Financial Performance

Facts and Figures KEY HIGHLIGHTS 14,102 THB 14,102mn Operating Revenue OPERATING 8,606 Chiefly from REVENUE 6,280 (i) Mass Transit: THB 9,112mn (+115% YoY) (ii) Media: THB 3,902mn (+30% YoY)  64% YoY (iii) Property: THB 639mn (+4% YoY) 2015/16 2016/17 2017/18 4,089 THB 4,089mn Operating EBITDA OPERATING 2,928 2,693 Increased by THB 1,161mn or 40% YoY EBITDA 29% Operating EBITDA Margin  40% YoY 2015/16 2016/17 2017/18 THB 2,515mn Net Recurring Profit (after MI) 2,515 NET RECURRING 1,956 rose 78% YoY as a result of PROFIT (after MI) 1,417 (i) robust operating performance (ii) higher interest and investment income  78% YoY (iii) an increase in share of net profit from associates/JVs 2015/16 2016/17 2017/18 BTS Group Earnings Presentation prepared by Investor Relations department 6 BTS Group Holdings PCL Section 1: FY 2017/18 Financial Performance

FY 2017/18 Overview P&L SNAPSHOT INCOME STATEMENT (THB mn) FY 2017/18 FY 2016/17 % YoY Operating Revenues 1 14,102 8,606 64% Gross operating profits 5,778 4,463 29% Operating EBITDA 2 4,089 2,928 40% Recurring net profit – after MI 2,515 1,417 78% Accounting EBITDA 7,571 4,114 84 % Net income (loss) 3 4 ,416 2,003 120% Gross operating profit margin (%) 41.0% 51.9% Accounting EBITDA margin (%) 42.3% 41.2% Recurring net profit margin (%) 16.0% 15.4% Operating EBITDA margin (%) 29.0% 34.0% 1 operating revenue of 4 BUs & share of net profit from BTSGIF 2 excluding non-mass transit interest income 3 to equity holders of the parent FY 2017/18 OPERATING REVENUE BREAKDOWN OPERATING REVENUE COMPARISON (YoY) ( THB mn) Media Mass Transit 28% 115% 30% 4% 65% 14,102 (294) 22 4,875 893 Property 4% 8,606 -73% Services 3% FY16/17 Mass Transit Media Property Services FY17/18 BTS Group Earnings Presentation prepared by Investor Relations department 7 BTS Group Holdings PCL Section 1: FY 2017/18 Financial Performance