prepared by Investor Relations department BTS Group Holdings PCL
3Q 2017/18 EARNINGS PRESENTATION
1 9 F E B R U ARY 2 0 1 8
BTS GROUP HOLDINGS PCL 3Q 2017/18 EARNINGS PRESENTATION 1 9 F E B - - PowerPoint PPT Presentation
BTS GROUP HOLDINGS PCL 3Q 2017/18 EARNINGS PRESENTATION 1 9 F E B R U ARY 2 0 1 8 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
3Q 2017/18 EARNINGS PRESENTATION
1 9 F E B R U ARY 2 0 1 8
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 3Q 2017/18 FINANCIAL PERFORMANCE
Section
Section
BUSINESS UPDATES BTSGIF 3Q 2017/18 FINANCIAL PERFORMANCE (separate presentation)
APPENDICES
BTS Group Earnings Presentation 3
prepared by Investor Relations department BTS Group Holdings PCL
BTS Group Earnings Presentation Section 1: BTSG 3Q 2017/18 Financial Performance 4
PROFITABILITY
68% YoY as a result of the improvements in operating performance
mainly from robust performance, higher interest and investment income, an increase in share of net profit from associates/JVs, being partially offset by higher finance cost BALANCE SHEET
*Cash and liquid investments include cash balance of THB 13.2bn, current investments of THB 8.5bn and L/T liquid investments of THB 12.3bn **Adjusted Net Debt = Interest Bearing Debt - Cash and Cash Equivalent and Liquid Investment
CASH FLOW
(THB 6.5bn) in CFI
(THB 3.7bn) in CFO
and BTS debenture of THB 7bn
25% equity investment in pink and yellow lines
prepared by Investor Relations department BTS Group Holdings PCL
OPERATING REVENUE COMPARISON (YoY)
INCOME STATEMENT (THB mn) 3Q 2017/18 3Q 2016/17 % YoY 2Q 2017/18 % QoQ 9M 2017/18 9M 2016/17 % YoY Operating Revenues1 4,875 1,935 152% 2,543 92% 10,528 5,211 102% Gross operating profit 1,552 1,080 44% 1,295 20% 4,125 3,070 34% Operating EBITDA2 1,144 681 68% 875 31% 2,936 1,940 51% Net recurring profit – before MI 1,016 500 103% 471 116% 1,923 1,407 37% Accounting EBITDA 1,696 973 74% 1,420 19% 4,204 2,947 42% Net income (loss)3 889 468 90% 653 36% 1,946 1,564 24% Gross operating profit margin (%) 31.8% 55.8% 50.9% 39.2% 58.9% Accounting EBITDA margin (%) 31.0% 42.0% 45.6% 35.3% 46.0% Recurring net profit margin (%) 18.6% 22.1% 16.7% 16.6% 23.9% Operating EBITDA margin (%) 23.5% 35.2% 34.4% 27.9% 37.2%
P&L SNAPSHOT
75% Mass Transit 20% Media 4% Property 1% Services
3Q 2017/18 OPERATING REVENUE BREAKDOWN
1 operating revenue of 4 BUs & share of net profit from BTSGIF 2 excluding interest income 3 to equity holders of the parent
BTS Group Earnings Presentation Section 1: BTSG 3Q 2017/18 Financial Performance 5
1,935 4,875 2,915 222 224 3Q 16/17 Mass Transit Media Property Services 3Q 17/18 18% (73)% 29% 401% (THB mn) 27
prepared by Investor Relations department BTS Group Holdings PCL
15,095
(1,881)* ( 9,469) 9,429 48 Beginning cash (31/3/17) CFO CFI CFF Others Ending cash (31/12/17)
CFI
E&M works of the Pink and Yellow lines
derivative instruments, current and
equipment
CFF
debentures and BE of THB 12bn
pink and yellow line projects) and proceeds from VGI newly issued ordinary shares (through PP) of THB 1,750mn
subsidiaries (VGI and MACO)
CFO Profit before tax of THB 2,710mn, deducted by
215mn
THB 2.9bn (this includes THB 3.7bn Green Line extensions E&M works and train procurement)
(THB mn)
BTS Group Earnings Presentation Section 1: BTSG 3Q 2017/18 Financial Performance 6
* After corporate income tax of THB 789mn, interest expenses of THB 708mn and investment in E&M works and train procurement for the Southern and Northern Green Line extensions of THB 3.7bn ** Excluding liquid investments of THB 20.9bn
prepared by Investor Relations department BTS Group Holdings PCL
HISTORICAL OPERATING REVENUE (THB mn)
KEY FACTORS OPERATING PERFORMANCE
MASS TRANSIT (THB mn) 3Q 2017/18 3Q 2016/17 % YoY 2Q 2017/18 % QoQ 9M 2017/18 9M 2016/17 % YoY Operating revenue 3,642 727 401% 1,318 176% 6,953 2,040 241% Costs of revenue 2,808 219 1,185% 740 279% 4,886 665 634% Gross profit 834 508 64% 578 44% 2,067 1,374 50% Operating EBITDA 842 516 63% 587 44% 2,093 1,396 50% Gross margin (%) 22.9% 69.9% 43.8% 29.7% 67.4% Operating EBITDA margin (%) 23.1% 71.0% 44.5% 30.1% 68.4%
OPERATING REVENUE BREAKDOWN
12% O&M Services revenue from provision of E&M works & train procurement 78%
3Q 2017/18
Share in BTSGIF 7% BTS Group Earnings Presentation Section 1: BTSG 3Q 2017/18 Financial Performance Int income from train procurement & E&M 3%
existing extension and one new additional station (Samrong: E15)
growth and 3.2% YoY average fare increase
procurement service for the Southern and Northern Green Line extensions of THB 2.8bn
services related to the provision of E&M works and the train procurement service for Green Line extensions
7
395 409 417 411 411 422 474 472 452 33 33 33 32 32 90 78 82 109 219 197 221 199 284 241 218 247 233 1,444 1,224 519 2,848
3Q 15/16 4Q 15/16 1Q 16/17 2Q 16/17 3Q 16/17 4Q 16/17 1Q 17/18 2Q 17/18 3Q 17/18
Services revenue from provision of E&M works & train procurement Share of NP in BTSGIF Int income from train procurement and E&M works O&M
prepared by Investor Relations department BTS Group Holdings PCL
HISTORICAL OPERATING REVENUE (THB mn)
KEY FACTORS
56% BTS – Related Media 27% Outdoor Media
MEDIA (THB mn) 3Q 2017/18 3Q 2016/17 % YoY 2Q 2017/18 % QoQ 9M 2017/18 9M 2016/17 % YoY Operating revenue 976 755 29% 970 1% 2,795 2,165 29% Costs of revenue 310 283 9% 310 (0)% 913 754 21% Gross profit 667 471 41% 660 1% 1,882 1,411 33% Operating EBITDA 507 303 67% 519 1,447 1,003 44% Gross margin (%) 68.3% 62.4% 68.1% 67.3% 65.2% Operating EBITDA margin (%) 52.0% 40.1% 53.5% 51.8% 46.3%
3Q 2017/18
OPERATING PERFORMANCE OPERATING REVENUE BREAKDOWN
8
9% Office Buildings and Others 8% Digital BTS Group Earnings Presentation Section 1: BTSG 3Q 2017/18 Financial Performance
higher consolidated revenue from acquired businesses and healthy performance of all Media business segments.
THB 240mn, or 36.7% YoY due to higher prices, synergies from the Digital Services segment as well as higher utilisation of digital screens of Outdoor media segment.
higher sales and the consolidation of newly acquired businesses.
2016/17).
*OOH Media includes Transit, Outdoor and Office Building and Other Media
512 570 542 790 755 741 753 891 895 79 104 96 79 81
3Q 15/16 4Q 15/16 1Q 16/17 2Q 16/17 3Q 16/17 4Q 16/17 1Q 17/18 2Q 17/18 3Q 17/18
Digital Services Media OOH
prepared by Investor Relations department BTS Group Holdings PCL
HISTORICAL OPERATING REVENUE (THB mn)
KEY FACTORS
97% Commercial & Others Residential 3%
OPERATING PERFORMANCE
PROPERTY (THB mn) 3Q 2017/18 3Q 2016/17 % YoY 2Q 2017/18 % QoQ 9M 2017/18 9M 2016/17 % YoY Operating Revenue 174 147 18% 159 9% 479 431 11% Costs of revenue 105 92 14% 108 (3)% 308 272 13% Gross profit 68 54 26% 51 33% 171 159 8% Operating EBITDA 12 (6) N.A. (4) N.A. 1 (14) N.A. Gross margin (%) 39.4% 37.0% 32.2% 35.8% 36.9% Operating EBITDA margin (%) 6.7% N.A. N.A. 0.3% N.A.
OPERATING REVENUE BREAKDOWN
3Q 2017/18
NOTE: Property revenue excludes share of profit/(loss) from investment in BTS-SIRI JVs, U City and Bayswater.
9
BTS Group Earnings Presentation Section 1: BTSG 3Q 2017/18 Financial Performance
from higher housing unit sales at Thana City
THB 168mn mainly from improving overall hotel performance
THB 105mn and in-line with the increase in revenue.
transferred units of The Line Jatujak – Mochit in 3Q 2017/18.
consolidation of Vienna House, an improving performance of its hotels in Thailand and gain on a 50% divestment of Prime Area 38 Co., Ltd. To Sansiri
161 171 142 142 147 186 146 159 174
3Q 15/16 4Q 15/16 1Q 16/17 2Q 16/17 3Q 16/17 4Q 16/17 1Q 17/18 2Q 17/18 3Q 17/18
prepared by Investor Relations department BTS Group Holdings PCL
45,182 46,475 29,833 36,884 18,636 23,555
31-Mar-17 31-Dec-17 Total current liabilities Total non-current liabilities Total shareholders' equity
106,914 93,651 67,351 80,271 26,301 26,643
31-Mar-17 31-Dec-17 Total current assets Total non-current assets
106,914 93,651 Cash 31 Mar 17: THB 15.09bn 31 Dec 17: THB 13.22bn Current Investments 31 Mar 17: THB 6.24bn 31 Dec 17: THB 6.60bn Long-Term Investments 31 Mar 17: THB 13.52bn 31 Dec 17: THB 15.58bn Gross Debt 31 Mar 17: THB 38.31bn 31 Dec 17: THB 49.70bn Adjusted Net Debt* 31 Mar 17: THB 6.19bn 31 Dec 17: THB 15.61bn ***** Issued Ordinary Shares 31 Mar 17: 11,935.0mn 31 Dec 17: 11,940.4mn 72% 28% 25% 75% 22% 43% 35% 48% 20% 32%
3Q 2017/18: 1.07x 3Q 2016/17: 0.77x
Gross Debt to Equity
3Q 2017/18: 0.34x 3Q 2016/17: 0.07x
Adjusted Net Debt* to Equity
3Q 2017/18: 3.98x 3Q 2016/17: 1.15x
Adjusted Net Debt* to Operating EBITDA
3Q 2017/18: 3.66x 3Q 2016/17: 3.59x
Interest Coverage
3Q 2017/18: 1.13x 3Q 2016/17: 1.58x
Current Ratio
ASSET BREAKDOWN (THB MN) LIABILITIES AND EQUITY BREAKDOWN (THB MN) KEY RATIOS
10 BTS Group Earnings Presentation Section 1: BTSG 3Q 2017/18 Financial Performance
*Adjusted Net Debt = Interest Bearing Debt - Cash and Cash Equivalent and Liquid Investment
Section
BTSG 3Q 2017/18 FINANCIAL PERFORMANCE
Section
Section
BUSINESS UPDATES BTSGIF 3Q 2017/18 FINANCIAL PERFORMANCE (separate presentation)
APPENDICES
BTS Group Earnings Presentation 11
prepared by Investor Relations department BTS Group Holdings PCL
HISTORICAL AVERAGE FARE & % GROWTH HISTORICAL RIDERSHIP & % GROWTH
12
BTS Group Earnings Presentation Section 2: Business Update
3Q 2017/18
9M 2017/18
59.8 60.1 58.0 62.2 60.8 1.2% 1.7% 2.8% 0.8% 1.7%
0.5%
7.1%
3Q 2016/17 4Q 2016/17 1Q 2017/18 2Q 2017/18 3Q 2017/18
Ridership (mn trips) Passenger Growth (YoY) Passenger Growth (QoQ)
27.8 27.9 27.9 27.8 28.7
3.2%
0.4% 0.3%
3.2%
25.0 30.03Q 2016/17 4Q 2016/17 1Q 2017/18 2Q 2017/18 3Q 2017/18
Average Fare (THB/trip) Average Fare Growth (YoY) Average Fare Growth (QoQ)
prepared by Investor Relations department BTS Group Holdings PCL
HISTORICAL AVERAGE FARE & % YoY GROWTH HISTORICAL RIDERSHIP & % YoY GROWTH
13
BTS Group Earnings Presentation Section 2: Business Update
JAN 18
10M 2017/18
18.2 19.3 20.5 20.2 21.4 20.6 19.4 21.1 20.4 20.2 2.2% 4.5% 1.7%
0.8% 1.6%
5.3% 2.4% 2.5%
16.0 17.0 18.0 19.0 20.0 21.0 22.0
Ridership (mn trips) % YoY ridership growth 28.5 28.0 27.5 27.9 27.8 27.7 28.0 28.7 29.3 28.7
0.2% -0.2% 3.3% 6.6% 3.0%
26.5 27.0 27.5 28.0 28.5 29.0 29.5
Average fare price (THB) % Change YoY
prepared by Investor Relations department BTS Group Holdings PCL
SOUTHERN GREEN LINE EXT. (BEARING – SAMUTPRAKARN) 12.6KM, 9 STATIONS MAR 2012 Civil works start MAR 2016 MOU between MRTA & BMA signed APR 2017 1st station Opened (E15 - Samrong Station) Targeted full operation
2012 2016 2017 2018
14 BTS Group Earnings Presentation Section 2: Business Update
MAR 2017 Finalised O&M contract NORTHERN GREEN LINE EXT. MO CHIT – KHU KHOT 18.2KM, 16 STATIONS MID 2015 Civil works start MAR 2016 MOU between MRTA & BMA signed MAR 2019 Targeted 1st station open (N9 - Ladphrao Intersection Station) Targeted full operation
2015 2016 2017 2020
MAR 2017 Finalised O&M contract
2019 2017
NOV 2016 BSR JV (BTS Group, STEC and RATCH) submitted a tender offer of the Pink and the Yellow lines MAY 2017 The Cabinet approved the Pink and the Yellow Line APR 2021 Targeted full operation for both lines
2016 2021 2017
JUN 2017 Contracts signed for both lines
2017
EARLY 2018 Expected construction begins
2018
PINK AND YELLOW LINES KHAE RAI – MIN BURI AND LAD PRAO – SAM RONG 64.9KM, 53 STATIONS
Nov 2017
prepared by Investor Relations department BTS Group Holdings PCL
15 BTS Group Earnings Presentation Section 2: Business Update
TRANSIT MEDIA Bangkok’s Network
Malaysia’s Network
OFFICE MEDIA Office buildings portfolio has achieved this year’s target
OUTDOOR MEDIA
AVIATION MEDIA
planes) ACTIVATION MEDIA
Transit Media in Bangkok Transit Media in Malaysia
prepared by Investor Relations department BTS Group Holdings PCL
16 BTS Group Earnings Presentation Section 2: Business Update
OFFLINE PAYMENT
ONLINE PAYMENT
MICRO LOAN SERVICES
prepared by Investor Relations department BTS Group Holdings PCL
Keystone JV THB 0.8bn Commercial THB 5.0bn
1% 13% 5% 31% 11% 2% 37%
BTS-Sansiri JV THB 13.8bn
HOTEL REVPAR AND OCCUPANCY HISTORICAL HOTEL OCCUPANCY
Others 22% U-Hotels 47% Thana City Golf 31% Total Book Value as of 31 Dec 17: THB 37.7bn 17 BTS Group Earnings Presentation Section 2: Business Update
PROPERTY BOOK VALUE BREAKDOWN COMMERCIAL PROPERTY REVENUE BREAKDOWN COMMERCIAL PROPERTY
Bayswater JV THB 4.3bn Residential THB 0.5bn
* Adjusted for equity stake
3Q 17/18 Commercial Property Revenue:
THB 168mn
Land Bank THB 1.8bn U City THB 11.5bn 3,628 1,721 2,575 2,581 89.0% 81.8 77.1% 81.2%
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
81.8% 82.9% 76.3% 83.4% 76.6% 79.3% 71.4% 83.0% 81.2%
3Q 15/16 4Q 15/16 1Q 16/17 2Q 16/17 3Q 16/17 4Q 16/17 1Q 17/18 2Q 17/18 3Q 17/18
prepared by Investor Relations department BTS Group Holdings PCL
UE Entire Business Transfer (EBT) U City Capital Increase U City Asset Divestment
14 Mar 2018 EBT completion date 5 – 9 Mar 2018 RO subscription period 14 Mar 2018 EBT completion date 16 Mar 2018 PP & RO warrants issuance date Preferred shares start trading on SET To be completed within end 2018 Execute asset divestment 18 BTS Group Earnings Presentation Section 2: Business Update
At the Extraordinary Shareholder’s Meeting held at Thana City on 4 January 2018, U City shareholders approved all agendas including the capital increase, entire business transfer of ‘Unicorn Enterprises Limited’ and disposal of certain assets.
prepared by Investor Relations department BTS Group Holdings PCL
19 BTS Group Earnings Presentation Section 2: Business Update
Project Name The Line Jatujak – Mochit Presale Period May 2015 Project Value (THB mn) 5,816 Units 841
per sqm (THB) 181k Sold 97% Construction Progress 100% Transfer Start Sep 2017 Foreign Participation 14%
THE LINE JATUJAK – MOCHIT
Source: www.dotproperty.co.th
Backlog Transferred THB 4,000 THB 1,643
prepared by Investor Relations department BTS Group Holdings PCL
THE LINE WONGSAWANG
Project Name The Line Wongsawang Sale Period 4Q 2017/18 Project Value (THB bn) 4.7 Units 1,287
per sqm (THB) 110k Construction Progress 100%
200M FROM PURPLE LINE WONGSAWANG STATION
23 BTS Group Earnings Presentation Section 2: Business Update
Section
BTSG 3Q 2017/18 FINANCIAL PERFORMANCE
Section
Section
BUSINESS UPDATES BTSGIF 3Q 2017/18 FINANCIAL PERFORMANCE (separate presentation)
APPENDICES
BTS Group Earnings Presentation 21
prepared by Investor Relations department BTS Group Holdings PCL
22 BTS Group Earnings Presentation Appendix
15.0 22.0 25.0 28.0 31.0 34.0 37.0 42.0 20.1 26.8 33.5 40.2 46.9 53.6 60.3 16.0 23.0 26.0 30.0 33.0 37.0 40.0 44.0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17
SINGLE JOURNEY TICKET (SJT): 35% OF TICKET TYPES
Number
Station 0-1 2 3 4 5 6 7 ≥ 8 Previous 15 22 25 28 31 34 37 42 1 Oct 17 16 23 26 30 33 37 40 44
RABBIT SENIOR
Number
Station 0-1 2 3 4 5 6 7 ≥ 8 Previous 7 11 13 14 16 17 19 21 1 Oct 17 8 12 13 15 17 19 20 22
RABBIT MONTLY PASS ADULT: 28% OF TICKET TYPES
Previous THB/Trip 1 Oct 17 @THB/Trip 15 Trips 450 30 465 31 25 Trips 700 28 725 29 40 Trips 1,040 26 1,080 27 50 Trips 1,250 25 1,300 26
RABBIT MONTLY PASS STUDENT: 6% OF TICKET TYPES
Previous THB/Trip 1 Oct 17 @THB/Trip 15 Trips 345 23 360 24 25 Trips 525 21 550 22 40 Trips 760 19 800 20 50 Trips 900 18 950 19
AUTHORISED FARE (APR 2013) NEW EFFECTIVE FARE (OCT 2017) PREVIOUS EFFECTIVE FARE (JUN 2013) FARE PRICE (THB) POTENTIAL FARE UPSIDE
prepared by Investor Relations department BTS Group Holdings PCL
Tenor Amount up to Coupon Rate 3-year THB 5.5bn 2.46% 5-year THB 2.2bn 2.85% 7-year THB 4.1bn 3.30% 10-year (NC5) THB 10.2bn 3.87% Total THB 22bn 3.31% (average) Rationale Purchase new rolling stocks and E&M for the Northern and Southern Green Line extensions Issuance Date 10 November 2016
23
THB 22BN BTSC DEBENTURE:NEW GREEN EXTENSIONS THB 63.4BN SYNDICATED LOAN: PINK AND YELLOW LINES
10 October 2017: BSR JV signed the syndicated loan agreement between Bangkok Bank, Krungthai Bank and Siam Commercial Bank at a total value of up to THB 63.36bn.
Credit Facilities Total of THB 63.36bn
Syndicate Banks Bangkok Bank, Krung Thai Bank, Siam Commercial Bank Loan Term 17 years and 3 months, repayments starting from first operation date Rationale Financing of both Pink and Yellow lines Tenor Amount up to Coupon Rate 3-year THB 1.5bn 2.24% 5-year THB 1.5bn 2.64% 10-year THB 2.0bn 3.65% 12-year (NC5) THB 2.0bn 3.78% Total THB 7.0bn 3.17% (average) Rationale Repay existing debts and/or investment and/or financing the working capital of the Company Issuance Date 26 December 2017
THB 7BN BTSG DEBENTURE
BTS Group Earnings Presentation Appendix
prepared by Investor Relations department BTS Group Holdings PCL LINE ROUTE AUTHORISING BODY TARGETED OPERATE YEAR CONSTRUCTION PROGRESS
DISTANCE (KM)
BLUE HUA LAMPHONG - BANG KHAE MRTA 2020 UNDER CONSTRUCTION 11 14.0 BLUE BANG SUE - THA PRA MRTA 2020 UNDER CONSTRUCTION 9 13.0 BLUE BANG KHAE - BHUDHAMONTHON 4 MRTA 2021 4 8.0 PURPLE (SOUTHERN) TAO POON - RAT BURANA MRTA 2022 17 23.6 GREEN (SOUTHERN) BEARING - SAMUT PRAKARN BMA 2018 UNDER CONSTRUCTION 9 12.6 GREEN (NORTHERN) MO CHIT - KHU KHOT BMA 2020 UNDER CONSTRUCTION 16 18.2 PINK KHAE RAI – MIN BURI MRTA Early 2021 30 34.5 YELLOW LAD PRAO – SAM RONG MRTA Early 2021 23 30.4 GOLD (PHASE I) KRUNG THON BURI – KLONG SAN BMA 2019 3 1.7 GREEN EXT. (WESTERN) BANG WA - TALING CHAN BMA 2020 6 7.0 LRT BANG NA - SUVARNABHUMI BMA 2022 14 18.3 GREY (PHASE I) WATCHARAPHON - THONG LO BMA 2022 15 16.3 ORANGE (EASTERN) THAILAND CULTURAL CENTER - MIN BURI MRTA 2023 UNDER CONSTRUCTION 17 22.6 ORANGE (WESTERN) TALING CHAN - THAILAND CULTURAL CENTER MRTA 2023 12 17.0 DARK RED BANG SUE - RANGSIT SRT 2021 UNDER CONSTRUCTION 8 26.3 GREEN EXT. (NORTHERN) KHU KHOT - LUMLUKKA MRTA 2021 4 7.0 GREEN EXT. (SOUTHERN) SAMUT PRAKARN - BANGPU MRTA 2021 4 7.0 DARK RED BANG SUE – HUA LUM PHONG SRT 2020 5 6.5 LIGHT RED BANG SUE – PHAYATHAI – MAKKASAN – HUAMAK SRT 2020 9 19.0
TOTAL (KM) 303.0
303.0KM ONGOING PROJECTS PRIORITISED BY THE GOVERNMENT IN 6 YRS, 104.9KM UNDER CONSTRUCTION
CORE AND EXTENSIONS TO OUR CURRENT LINES LINES CONNECTING TO OUR LINES
82.9km
24
Sources: Office of Transport and Traffic Policy and Planning, Mass Rapid Transit Authority of Thailand, Bangkok Metropolitan Administration, State Railway of Thailand, Ministry of Transport, Bangkok Expressway and Metro Public Company Limited (BEM), BTS Group Holdings Public Company Limited (BTS)
BTS Group Earnings Presentation Appendix
prepared by Investor Relations department BTS Group Holdings PCL
25
CURRENT STATUS: Awaiting EIA approval and cabinet’s approval (The route already includes in the master plan and approved by CMLT/BMC) 2018 Expected bidding 2022 Target operation year 2022 Target operation year 2021 Target operation year 2019 Expected O&M award CURRENT STATUS: Awaiting EIA approval and cabinet’s acknowledgment (The route already includes in the master plan and approved by CMLT/BMC) 2018 Expected bidding CURRENT STATUS: Awaiting EIA approval, BMC approval (CMLT already approved in the principle) CURRENT STATUS: Civil work (phase I - East) Bidding process - Done) MID 2018 Target concession bidding 2023 Target operation year 2018 Expected O&M award CURRENT STATUS: KT is proactively finding contractor and operator
2021 Target operation year
BTS Group Earnings Presentation Appendix
LRT (18.3km) GREY PHASE I (16.3km) WESTERN GREEN (7km) ORANGE (39.6km) GOLD PHASE I (1.7km)
prepared by Investor Relations department BTS Group Holdings PCL
26 BTS Group Earnings Presentation Appendix
ACTIVE RESIDENTIAL PROJECTS UNDER SIRI JV
In FY 2017/18, Target to launch at least 4 projects with THB 12bn worth of projects.
Project Name Presale Launch Project Value Units
sqm (THB) Sold Construction Progress*
Start Foreign Participation THE LINE Jatujak – Mochit May-15 5,816 841 181k 97% 100% Sep-17 37% THE LINE Sukhumvit 71 Aug-15 1,967 291 167k 100% 100% Sep-16 48% THE LINE Ratchathewi Oct-15 2,965 231 270k 98% 92% May-18 25% THE LINE Asoke-Ratchada Jun-16 3,021 473 183k 99% 49% Oct-18 41% THE BASE Garden Rama 9 Sep-16 2,342 639 110k 91% 62% Oct-18 41% THE LINE Pradipat Nov-16 5,891 981 160k 67% 4% Jan-20 12% THE LINE Sukhumvit 101 Nov-16 4,650 778 177k 59% 10% Nov-19 42% KHUN BY YOO Thonglor 12 Nov-16 4,065 148 382k 66% 11% Nov-19 4% THE BASE Phetkasem 29 Jun-17 1,984 640 103k 69% 7% Jan-20 23% THE MONUMENT Thonglor Sep-17 (soft launch) 6,242 127 309k 20% 34% Jul-19 3% THE LINE Sathorn Nov-17 3,918 327 277k 100% 0% Nov-20 30% Total/Weighted Average 42,861 5,476 222k 74% 25%
prepared by Investor Relations department BTS Group Holdings PCL
27
BTS Group Earnings Presentation Appendix (THB mn) 3Q 2016/17 3Q 2017/18 3Q 2017/18 share of net profit/ (loss) breakdown by BU Share of income/ (loss) from investments in joint ventures (59) (13) ATS (AEON-rabbit) 2 11 Bayswater (22) (63) BTS-SIRI JV Projects (28) 103 Man Food Holdings 1 Keystone Estate and Keystone Management Rabbit LINE Pay (11) (65) Share of income/ (loss) from investments in associates 233 207 Absolute Hotel Services (AHS) 2 4 Aero Media (1) 8 BTSGIF 284 233 Demo Power (10) MACO’s associates 1 U City (52) (29)
233 (55) 14 193 Mass Transit Media Property Services Total