prepared by Investor Relations department BTS Group Holdings PCL
BTS GROUP HOLDINGS PCL
FY 2017/18 EARNINGS PRESENTATION
SET OPPORTUNITY DAY 4 JUNE 2018
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
prepared by Investor Relations department BTS Group Holdings PCL
FY 2017/18 EARNINGS PRESENTATION
SET OPPORTUNITY DAY 4 JUNE 2018
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
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
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
BTS Group Earnings Presentation 2
Section
BTSG FY 2017/18 FINANCIAL PERFORMANCE
Section
BUSINESS UPDATES
APPENDICES
BTS Group Earnings Presentation 3
prepared by Investor Relations department BTS Group Holdings PCL
For more details, please refer to FY17/18 BTS MD&A: significant events
4
MASS TRANSIT
16 JUN 2017 Concession Contract signed for the Pink and Yellow Lines 1 OCT 2017 Fares increased on Single Journey Tickets (SJT), Rabbit monthly pass and Rabbit senior tickets in the Core Network 10 OCT 2017 Syndicated Loan Agreement signed for financing the Pink and Yellow Lines
MEDIA PROPERTY BTS GROUP
FY 17/18 integrated offline Out-of- Home (OOH) and online digital platform to be the “Offline-to-Online (O2O)” solution 3 MAY 2017 U City signed an agreement to invest in office building at 6-14 Underwood Street, London, UK 29 JUN 2017 Ground breaking ceremony of Phayathai Complex Project 8 January 2018 BoD approved interim dividend
(THB 0.165/share) 16 MAR 2018 Property Restructuring (the completion of EBT of UE to U City) 30 JUN 2017 MACO acquired 70% in CO-MASS 5 MAR 2018 VGI partnered with AIS to strengthen Rabbit Group ecosystem 26 DEC 2017 The issuance of THB 7bn Senior Unsecured Debentures with “A / Stable” credit rated by TRIS 23 APR 2018 VGI intended to invest 23% of shares in Kerry Express (Thailand) 28 May 2018 BoD approved final dividend of FY 2017/18 (THB 0.185/share) BTS Group Earnings Presentation Section 1: FY 2017/18 Financial Performance 28 May 2018 BoD approved the issuance of new warrant (BTS-W4) up to 1,755mn units at a ratio of 9:1 with exercise price of THB 10.5
prepared by Investor Relations department BTS Group Holdings PCL
higher recurring profit and extraordinary gain from property restructuring
*Cash and liquid investments include cash bal. of THB 9.5bn, current investments of THB 5.7bn, L/T investments of THB 14.9bn
Northern Green line extensions of THB 6bn
in stake in U City
(STEC&RATCH) of THB 2.25bn for 25% equity investment in Pink and Yellow lines
5
PROFITABILITY BALANCE SHEET CASH FLOW
BTS Group Earnings Presentation Section 1: FY 2017/18 Financial Performance
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%
DIVIDEND
prepared by Investor Relations department BTS Group Holdings PCL
6 BTS Group Earnings Presentation Section 1: FY 2017/18 Financial Performance
KEY HIGHLIGHTS
OPERATING REVENUE
64% YoY
OPERATING EBITDA
40% YoY
NET RECURRING PROFIT (after MI)
78% YoY
THB 14,102mn Operating Revenue
Chiefly from (i) Mass Transit: THB 9,112mn (+115% YoY) (ii) Media: THB 3,902mn (+30% YoY) (iii) Property: THB 639mn (+4% YoY)
6,280 8,606 14,102 2015/16 2016/17 2017/18 2,693 2,928 4,089 2015/16 2016/17 2017/18
THB 4,089mn Operating EBITDA
Increased by THB 1,161mn or 40% YoY
29% Operating EBITDA Margin THB 2,515mn Net Recurring Profit (after MI)
rose 78% YoY as a result of (i) robust operating performance (ii) higher interest and investment income (iii) an increase in share of net profit from associates/JVs
1,956 1,417 2,515 2015/16 2016/17 2017/18
prepared by Investor Relations department BTS Group Holdings PCL
OPERATING REVENUE COMPARISON (YoY)
INCOME STATEMENT (THB mn) FY 2017/18 FY 2016/17 % YoY Operating Revenues1 14,102 8,606 64% Gross operating profits 5,778 4,463 29% Operating EBITDA2 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%
P&L SNAPSHOT
65% Mass Transit 28% Media 4% Property 3% Services
FY 2017/18 OPERATING REVENUE BREAKDOWN
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
7 BTS Group Earnings Presentation Section 1: FY 2017/18 Financial Performance
8,606 14,102 4,875 893 (294) FY16/17 Mass Transit Media Property Services FY17/18 4%
30% 115% (THB mn)
22
prepared by Investor Relations department BTS Group Holdings PCL
10% Share in BTSGIF
HISTORICAL OPERATING REVENUE (THB mn)
KEY FACTORS
procurement service for the Southern and Northern Green Line extensions of THB 5.8bn was recorded
existing extensions and one new additional station (Samrong: E15)
ridership growth and 1.4% YoY average fare increase
services related to the provision of E&M works and the train procurement service for Green Line extensions
OPERATING PERFORMANCE
MASS TRANSIT (THB mn) FY 17/18 FY 16/17 %YoY Revenue 9,112 4,237 115% Costs of revenue 6,274 2,131 194% Gross profit 2,837 2,105 35% Operating EBITDA 2,872 2,136 35% Gross margin (%) 31.1% 49.7% Operating EBITDA margin (%) 31.5% 50.4%
OPERATING REVENUE BREAKDOWN
20% O&M Services revenue from provision of E&M works & train procurement 64%
FY 2017/18
Int income from train procurement & E&M 6% 8
409 417 411 411 422 474 472 452 467 33 33 32 32 90 78 82 109 234 197 221 199 284 241 218 247 233 252 1,444 1,224 519 2,848 1,205
4Q 15/16 1Q 16/17 2Q 16/17 3Q 16/17 4Q 16/17 1Q 17/18 2Q 17/18 3Q 17/18 4Q 17/18
Services revenue from provision of E&M works & train procurement Share of NP in BTSGIF Int income from train procurement O&M
BTS Group Earnings Presentation Section 1: FY 2017/18 Financial Performance
prepared by Investor Relations department BTS Group Holdings PCL
HISTORICAL OPERATING REVENUE (THB mn) KEY FACTORS
healthy performance in OOH Media
attributable to higher prices, synergies from the Digital Services segment, the launch of a new product (LED billboards) as well as the full year consolidation of MACO
full year consolidation of MACO
2016/17) 58% BTS – Related Media 25% Outdoor Media
MEDIA (THB mn) FY 17/18 FY 16/17 %YoY Operating revenue 3,902 3,010 30% Costs of revenue 1,234 1,043 18% Gross profit 2,668 1,967 36% Operating EBITDA 1,976 1,407 41% Gross margin (%) 68.4% 65.3% Operating EBITDA margin (%) 50.6% 46.7%
FY 2017/18
OPERATING PERFORMANCE OPERATING REVENUE BREAKDOWN
9
8% Office Buildings and Others 9% Digital
*OOH Media includes Transit, Outdoor and Office Building and Other Media
570 542 790 754 741 753 891 894 1,020 79 104 96 79 82 87
4Q 15/16 1Q 16/17 2Q 16/17 3Q 16/17 4Q 16/17 1Q 17/18 2Q 17/18 3Q 17/18 4Q 17/18
Digital Services Media OOH
BTS Group Earnings Presentation Section 1: FY 2017/18 Financial Performance
prepared by Investor Relations department BTS Group Holdings PCL
Residential 4%
HISTORICAL OPERATING REVENUE (THB mn) KEY FACTORS
from lower housing unit sales at Thana City
mainly from the improving overall hotel performance and Thana City Golf & Sports Club
OPERATING PERFORMANCE
PROPERTY (THB mn) FY 17/18 FY 16/17 %YoY Operating Revenue 639 617 4% Costs of revenue 413 385 8% Gross profit 226 233 (3)% Operating EBITDA (4) 3 N.A. Gross margin (%) 35.3% 37.7% Operating EBITDA margin (%) (0.6)% 0.5%
OPERATING REVENUE BREAKDOWN
FY 2017/18
NOTE: Property operating performances exclude share of profit/(loss) from investment in BTS-SIRI JVs, U City and Bayswater.
10
171 142 142 147 186 146 159 174 160
4Q 15/16 1Q 16/17 2Q 16/17 3Q 16/17 4Q 16/17 1Q 17/18 2Q 17/18 3Q 17/18 4Q 17/18
96% Commercial & Others BTS Group Earnings Presentation Section 1: FY 2017/18 Financial Performance
prepared by Investor Relations department BTS Group Holdings PCL
45,182 46,355 29,833 36,779 18,616 22,923
31 Mar 17 31 Mar 18 Total shareholders' equity Total non-current liabilities Total current liabilities
106,058 93,631 67,909 84,747 25,722 21,311
31 Mar 17 31 Mar 18 Total non-current assets Total current assets
106,058 93,631 Cash 31 Mar 17: THB 15.09bn 31 Mar 18: THB 9.46bn Current Investments 31 Mar 17: THB 6.24bn 31 Mar 18: THB 5.67bn Long-Term Investments 31 Mar 17: THB 13.52bn 31 Mar 18: THB 15.95bn Gross Debt 31 Mar 17: THB 38.31bn 31 Mar 18: THB 47.17bn Adjusted Net Debt* 31 Mar 17: THB 6.06bn 31 Mar 18: THB 17.13bn ***** Issued Ordinary Shares 31 Mar 17: 11,935.0mn 31 Mar 18: 11,940.4mn
73% 27% 20% 80% 22% 44% 34% 48% 20% 32% FY 2017/18: 1.02x FY 2016/17: 0.85x
Gross Debt to Equity
FY 2017/18: 0.37x FY 2016/17: 0.13x
Adjusted Net Debt* to Equity
FY 2017/18: 3.02x FY 2016/17: 1.72x
Adjusted Net Debt* to Recurring Operating EBITDA
FY 2017/18: 3.31x FY 2016/17: 4.53x
Interest Coverage
FY 2017/18: 0.93x FY 2016/17: 1.38x
Current Ratio
ASSET BREAKDOWN (THB MN) LIABILITIES AND EQUITY BREAKDOWN (THB MN) KEY RATIOS
11
*Adjusted Net Debt = Interest Bearing Debt – Cash and Cash Equivalent and Liquid Investment
BTS Group Earnings Presentation Section 1: FY 2017/18 Financial Performance
Section
BTSG 4Q & FY 2017/18 FINANCIAL PERFORMANCE
Section
Section
BUSINESS UPDATES BTSGIF 4Q & FY 2017/18 FINANCIAL PERFORMANCE (separate presentation)
APPENDICES
12 BTS Group Earnings Presentation
prepared by Investor Relations department BTS Group Holdings PCL
Historical average fare & % growth (YoY) Historical ridership & % growth (YoY)
13
BTS Group Earnings Presentation Section 2: Business Update
214.7 218.7 232.5 238.0 241.2 8.9% 1.9% 6.3% 2.4% 1.3%
2013/14 2014/15 2015/16 2016/17 2017/18 Total Ridership (mn trips) Ridership Growth (% YoY) 26.4 26.9 27.5 27.9 28.3 6.5% 1.6% 2.4% 1.3% 1.4%
2013/14 2014/15 2015/16 2016/17 2017/18 Average fare price (THB) % Change YoY
prepared by Investor Relations department BTS Group Holdings PCL
Historical average fare & % growth (YoY) Historical ridership & % growth (YoY)
14
BTS Group Earnings Presentation Section 2: Business Update
29.3 28.7 28.8 28.9 29.4 6.6% 3.0% 3.1% 3.7% 3.2%
28.2 28.4 28.6 28.8 29.0 29.2 29.4 29.6
Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 Average fare price (THB) % Change YoY 20.4 20.2 19.1 20.9 17.9 2.4% 2.5% 1.2%
16.0 16.5 17.0 17.5 18.0 18.5 19.0 19.5 20.0 20.5 21.0 21.5
Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 Ridership (mn trips) % YoY ridership growth FY 2018/19 Ridership Growth Target +4-5% FY 2018/19 Fare Increase Target +1.5-2%
prepared by Investor Relations department BTS Group Holdings PCL
15 BTS Group Earnings Presentation Section 2: Business Update
Source: MRTA, the Company
SOUTHERN GREEN LINE EXT. (Bearing - Samutprakarn) 12.6km/ 9 stations NORTHERN GREEN LINE EXT. (Mochit - Khukot) 18.2km/ 16 stations PINK LINE (Khae Rai – Min Buri) 34.5km/ 30 stations YELLOW LINE (Ladprao - Samrong) 30.4km/ 23 stations FY 17/18 FY 18/19 FY 19/20 FY 20/21 1 station opened: Samrong (Apr 2017) Targeted full Operation (Dec 2018) Targeted 1st station: Ladprao (Mid 2019) Targeted full Operation (Jul 2020) Contract Signed FY 21/22 Targeted full
(Nov 2021) Targeted full
(Nov 2021) Contract Signed Construction Period Construction Period Construction Period
prepared by Investor Relations department BTS Group Holdings PCL
16 BTS Group Earnings Presentation Section 2: Business Update
% of investment 23% of total shares Total investment THB 5,901mn Vendors 1. KLN Logistics (Thailand) Limited* 2. Gather Excellence Limited & Siam Chao Phraya Express Limited Target Kerry Express (Thailand) Limited Source of funds Step1: THB 5.9bn by cash (100% transaction value) Step2: After the completion of cash payment, VGI will issues new shares (15% of transaction value) to vendors via private placement. Rationale and synergies:-
with a particular focus on the e-commerce business.
solutions surrounding Kerry Express’s sophisticated delivery “heat map”
Kerry Express’ extensive delivery routes
thousands of delivery vehicles and service points in Thailand.
Rewards as an exclusive loyalty program.
TRANSACTION SUMMARY INVESTMENT HIGHLIGHTS
* A subsidiary of Kerry Logistics Network Limited (Hong Kong)
prepared by Investor Relations department BTS Group Holdings PCL
17 BTS Group Earnings Presentation Section 2: Business Update
% of investment 33.3% of total shares Total investment THB 787mn Purchaser Advanced Info Services Public Company Limited Seller Rabbit Line Pay Company Limited
TRANSACTION SUMMARY
enables VGI to go further beyond Bangkok
network (which includes the no. 1 Transit (Rabbit & BTS), the no. 1 ecommerce Logistic (Kerry), the no. communication consumer channel (LINE) and now the no. 1 Telco (AIS).
setting the RLP system to be their default payment option in the Mpay application
RLP.
INVESTMENT HIGHLIGHTS PRE AND POST SHAREHOLDING STRUCTURE
PRE TRANSACTION
VGI BSSH RPS LINE RLP 90% 80% 50% 50% VGI BSSH RPS AIS RLP LINE
POST TRANSACTION
33.3% 33.3% 33.3% 80% 90%
Note: RPS refers to Rabbit Pay System RLP refers to Rabbit LinePay LINE comprised of Line biz plus (25%) and LINE Company Thailand (25%)
AIS acquired newly issued shares of RLP.
prepared by Investor Relations department BTS Group Holdings PCL
Net Gain of THB 1.88bn from EBT Remaining Key Assets at BTSG
Preferred Shares from: PP: 63,882mn shares (@THB 0.034/share) with U-W3 31,941mn units 18 BTS Group Earnings Presentation Section 2: Business Update
Consideration
Loan Novation: THB 5.02bn Loan Repayment: THB 5.05bn THB 2.17bn Fair value of U City’s preferred shares and warrants and loans to and interest receivable from U City THB 12.2bn Book value Net assets of the Unicorn Group (THB 9.08bn) Deducted deferred gain on the entire business transfer of subsidiary and Transaction costs (THB 1.24bn) Net gain on the entire business transfer of subsidiary THB 1.88bn
Key Assets Transferred
THB 10.07bn Total Assets Value THB 12.2bn THB 12.2bn Total Settlement Value
prepared by Investor Relations department BTS Group Holdings PCL
19 BTS Group Earnings Presentation Section 2: Business Update
1) Private Placement (PP) of preferred shares and warrants to Bangkok Bank (Strategic Investor) 2a) Rights Offering of preferred shares and warrants RO to all shareholders 2b) PP of preferred shares to UE THB 900mn THB 11bn 1) Debt Novation: Repaid loans to UE (from EBT) *Remaining debt payment to UE: THB 5.024bn. THB 5.05bn* 2) Working Capital: Used for company’s operations THB 4.65bn
THB 11.9bn Capital Raising (of which THB 9.7bn is cash)
Use of Capital Source of Capital Increase
3) PP of preferred shares to UE: THB 2.17bn
prepared by Investor Relations department BTS Group Holdings PCL
20
25,948 9,473 3,842 7,083 5,550 2018 2019 2020 2021 BTS-SIRI JV Presales Backlog
(Unit: THB mn) *Backlog as of May 2018
Project Name Presale Project Value (THB mn) Units
(THB) Sold Construction Progress*
Start Foreign Participation 1 The LINE Jatujak – Mochit May-15 5,829 841 182k 91% 100% Sep-17 36% 2 The LINE Sukhumvit 71 Aug-15 1,967 291 167k 100% 100% Sep-16 48% 3 The LINE Ratchathewi Oct-15 3,015 231 269k 97% 92% May-18 23% 4 The LINE Asoke-Ratchada Jun-16 3,022 473 183k 99% 49% Oct-18 43% 5 The BASE Garden Rama 9 Sep-16 2,344 639 110k 91% 62% Oct-18 42% 6 The LINE Pradipat Nov-16 5,892 981 160k 67% 4% Jan-20 14% 7 The LINE Sukhumvit 101 Nov-16 4,652 778 177k 62% 10% Nov-19 44% 8 KHUN BY YOO Thonglor 12 Nov-16 4,069 148 383k 65% 11% Nov-19 5% 9 The BASE Phetkasem 29 Jun-17 2,010 640 104k 74% 7% Jan-20 28% 10 The MONUMENT THONGLOR Sep-17 6,244 127 310k 20% 34% Jul-19 3% 11 The LINE Sathorn Nov-17 3,919 327 277k 100% 0% Apr-21 39% 12 The LINE Wongsawang Mar-18 4,871 1,287 115k 26% 100% Mar-18 7% Total/Weighted Average 47,834 6,763 212k 68% 24%
The LINE Sukhumvit 71
JV with Sansiri Presales Backlog
Fully transferred
Data as of April 2018
BTS Group Earnings Presentation Section 2: Business Update
prepared by Investor Relations department BTS Group Holdings PCL
Commercial THB 2.5bn
HOTEL REVPAR AND OCCUPANCY HISTORICAL HOTEL OCCUPANCY
Others 27% U-Hotels 42% Thana City Golf 31% Total Book Value as of 31 Mar 18: THB 28.2bn 21 BTS Group Earnings Presentation Section 2: Business Update
PROPERTY BOOK VALUE BREAKDOWN COMMERCIAL PROPERTY REVENUE BREAKDOWN COMMERCIAL PROPERTY
U City THB 20.2bn Bayswater JV THB 4.3bn
* Adjusted for equity stake
FY 17/18 Commercial Property Revenue:
THB 616mn
Land Bank THB 0.8bn 3,195 1,535 2,743 2,507 88.1% 81.2% 86.0% 85.1%
0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
2,000 3,000 4,000 5,000
U Chiang Mai U Inchantree U Sathorn Blended
RevPAR (THB/night) Occupancy Rate
82.9% 76.3% 83.4% 76.6% 79.3% 71.4% 83.0% 81.2% 85.1%
4Q 15/16 1Q 16/17 2Q 16/17 3Q 16/17 4Q 16/17 1Q 17/18 2Q 17/18 3Q 17/18 4Q 17/18
Residential THB 0.5bn
2% 9% 3% 72% 15%
prepared by Investor Relations department BTS Group Holdings PCL
22
MEDIA
FY 2018/19 BTS GROUP TARGETS
Targeted Media Revenue
Core Network ridership growth
Core Network average fare increase
Train O&M revenue growth
Revenue from E&M provision and train procurement for Green Line South and North extensions
Targeted BTS Group Property Revenue (more details in U City presentation)
Construction revenue for Pink and Yellow Lines
Targeted U City Property Revenue
(at U City level)
Interest income from train procurement for Green Line extensions and construction revenue for Pink and Yellow lines
MASS TRANSIT
FY 2018/19 CAPEX: THB 27-34BN
(Excludes: BTSGIF CAPEX )
Line South and North extensions
construction
(Excludes: Real estate development cost)
PROPERTY
BTS Group Earnings Presentation Section 2: Business Update
prepared by Investor Relations department BTS Group Holdings PCL
23
BTS Group Earnings Presentation Section 2: Business Update
FY16/17 FY17/18 Mass Transit Media Property Services FY21/22
5Y CAGR 39% 5Y CAGR 17% 5Y CAGR 10% 8,606 30,327
49% 74% 21%
29% 5YRS CAGR
(FY 16/17 – FY 21/22)
Mass Transit Media Property Services
Operating revenue growth contribution by business unit
Note: Operating revenue includes share of net profit (loss) from associated companies and JVs
35% ≈69% or THB 8.8bn from the construction revenue of Pink and Yellow lines
14,102
65% 28%
2,566 663 33 12,722 64% YoY
(unit: THB mn)
prepared by Investor Relations department BTS Group Holdings PCL
24
BTS Group Earnings Presentation Section 2: Business Update
Net recurring profit growth contribution by business unit
(unit: THB mn) FY16/17 FY17/18 Mass Transit Media Property Services Others FY21/22
5Y CAGR 25% 5Y CAGR 16% 1,417 5,125
107% 73% 27%
Mass Transit Media Property Services
49% 13%
Note: Others include treasury operations
29% 5YRS CAGR
(FY 16/17 – FY 21/22)
2,515
84% 38%
2,336 496 1,125 181 (1,395) 78% YoY
Section
BTSG 4Q & FY 2017/18 FINANCIAL PERFORMANCE
Section
Section
BUSINESS UPDATES BTSGIF 4Q & FY 2017/18 FINANCIAL PERFORMANCE (separate presentation)
APPENDICES
25 BTS Group Earnings Presentation
prepared by Investor Relations department BTS Group Holdings PCL
949 (70) (428) (5) 445 Mass Transit Media Property Services Total
26
(THB mn) FY 2017/18 FY 2016/17 FY 2017/18 Share of Net Profit/ (Loss) Breakdown by BU
Share of income/ (loss) from investments in joint ventures
(28) (400)
(THB mn)
ATS (AEON-rabbit)
32 13
Bayswater
(190) (118)
BTS-SIRI JV Projects
254 (253)
Rabbit LinePay
(122) (41)
Others
(1) (1)
Share of income/ (loss) from investments in associates
473 787
Absolute Hotel Services (AHS)
12 8
Aero Media
6 (3)
BTSGIF
949 945
MACO’s associates
6 5
U City
(505) (179)
Others
5 12
*includes performances from discontinued operation for the year
BTS Group Earnings Presentation Appendix
prepared by Investor Relations department BTS Group Holdings PCL
27
TICKER BTS-W4 TERMS 1 YEAR WARRANTS PRICE NIL
SCENARIO 1: UP TO 1,755,034,187 UNITS* SCENARIO 2: UP TO 1,316,158,099 UNITS**
SCENARIO 1: UP TO 1,755,034,187 UNITS* SCENARIO 2: UP TO 1,316,158,099 UNITS** EXERCISE RATIO 1 BTS-W4 TO 1 NEW COMMON SHARE OF BTS EXERCISE PRICE THB 10.50 PER SHARE EXPECTED MAXIMUM PROCEEDS SCENARIO 1: THB 18,427,858,963.50* SCENARIO 2: THB 13,819,660,039.50** EXERCISE PERIOD QUARTERLY SET LISTING BOTH BTS-W4 AND THE NEW SHARES TO BE LISTED
WARRANTS TERMS AND CONDITIONS
BTS Group Earnings Presentation Appendix
*Assuming all BTS-W3, BTS-WB and BTS-WC are exercised **If only BTS-WB are exercised
prepared by Investor Relations department BTS Group Holdings PCL
28
Sources: MRTA, the Company
FY 17/18 FY 18/19 FY 19/20 FY 20/21 FY 21/22
GOLD LINE PHASE 1
(Krung Thon Buri – Klong San) 1.7km/ 3 stations
WESTERN GREEN LINE EXT.
(Bang Wa – Taling Chan) 7.0km/ 6 stations
Targeted Full operation Targeted Full operation Expected open bid/ award Expected open bid/ award LRT
(Bangna - Suvarnabhumi) 18.3km/ 14 stations
GREY LINE PHASE 1
(Watcharaphon - Thonglo) 16.3km/ 15 stations
ORANGE LINE
(Min Buri – Taling Chan) 39.6km/ 29 stations
HIGH SPEED RAIL
(Don Mueang – Suvarnabhumi – U- Tapao) 220km/ 15 stations
Targeted Full operation Expected open bid/ award Expected open bid/ award Expected open bid/ award Targeted Full operation Targeted Full operation Targeted Full operation
FY 22/23 FY 23/24 FY 24/25
Expected open bid/ award Construction Period Construction Period Construction Period Construction Period Construction Period Construction Period
BTS Group Earnings Presentation Appendix
prepared by Investor Relations department BTS Group Holdings PCL
29
TRANSIT MEDIA Bangkok’s Network
Malaysia’s Network
OFFICE MEDIA
OUTDOOR MEDIA
AVIATION MEDIA
(additional 4 planes) ACTIVATION MEDIA
OUT OF HOME KEY DEVELOPMENTS
AIS at Siam Station McDonalds’ at National Stadium
BTS Group Earnings Presentation Appendix
prepared by Investor Relations department BTS Group Holdings PCL
30
DIGITAL SERVICES KEY DEVELOPMENTS
OFFLINE PAYMENT
ONLINE PAYMENT
MICRO LOAN SERVICES
BTS Group Earnings Presentation Appendix
prepared by Investor Relations department BTS Group Holdings PCL
31
FY 2017/18 BTS GROUP TARGETS FY 2017/18 ACTUAL
Rolling Stocks Procurement for Green Line South and North extensions
Stocks Procurement for Green Line South and North extensions
JVs
(As of 15 March 2018, we have transferred and recognised revenues of an additional 704 units or 84% pf total units for The Jatujak-Mo Chit. To date, 88% of units of the project have been transferred as of 31 March 2018)
1O&M revenue includes 1st station of Green Line South: E15 which was opened on 3 April 2017
Mass Transit Media and Rabbit Property
BTS Group Earnings Presentation Appendix