COMPANY INFORMATION 2Q2017 Opportunity Day Presentation GROUP - - PowerPoint PPT Presentation

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COMPANY INFORMATION 2Q2017 Opportunity Day Presentation GROUP - - PowerPoint PPT Presentation

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COMPANY INFORMATION 2Q2017 Opportunity Day Presentation GROUP STRUCTURE Solar roof business 51% TICON Develops logistics DEMCO POWER 100% Develops logistics TPARK warehouses for lease 60% TPARK warehouses for lease in BFTZ

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2Q2017 Opportunity Day Presentation

COMPANY INFORMATION

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GROUP STRUCTURE

▸ DEVELOPS FACTORIES FOR LEASE

16% TLOGIS 12% TREIT 100% TICON (HK)

▸ A vehicle for

  • verseas investment

100% TPARK

▸ Develops logistics warehouses for lease

15% TFUND

▸ A listed property fund of Baht 13.22 billion*

70% TMAN

▸ REIT manager ▸ A listed property fund of Baht 4.88 billion*

24% TGROWTH

▸ A listed property fund of Baht 5.76 billion* ▸ A listed REIT

  • f Baht

5.68 billion

51% TICON

DEMCO POWER

25% PT SLP SURYA

TICON INTERNUSA

▸ Solar roof business ✶ Net Assets Value as of Jun.30, 2017 ▸ Develops factories and logistics warehouses for lease in Indonesia

60% TPARK

BFTZ

▸ Develops logistics warehouses for lease in Bangkok Free Trade Zone

2Q2017 Opportunity Day Presentation

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COMPANY PROFILE

Establishment Year 1990 Registered Capital Baht 1,834.14 million (as of Jun.30, 2017) (1,834.14 million shares, @ Baht 1 per share) Total Equity Baht 24,617 million (as of Jun.30, 2017) Company Rating “ A ” Stable, TRIS Issue Rating “ A ” Stable, TRIS CG Rating Dividend Policy Minimum 40% of net profit after tax

2Q2017 Opportunity Day Presentation

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FPHT 40% OTHERS 27% ROJANA 26% CITY REALTY GROUP 4% DIRECTORS & MANAGEMENT 1%

53%

LOCAL

47%

FOREIGN

SHAREHOLDING STRUCTURE

✶ On March 10, 2017

FOREIGN 29%

FREE FLOAT

THAI N.V.D.R. 2%

2Q2017 Opportunity Day Presentation

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BOARD OF

DIRECTORS

  • 1. Chainoi Puankosoom

Independent Director and Chairman of the Board

  • 2. Chatchaval Jiaravanon

Independent Director

  • 3. Threekwan Bunnag

Independent Director

  • 4. Tithiphan Chuerboonchai

Independent Director

  • 5. Panote Sirivadhanabhakdi

Director

  • 6. Chotiphat Bijananda

Director

  • 7. Uten Lohachitpitaks

Director

  • 8. Chali Sophonpanich

Director

  • 9. Chai Vinichbutr

Director

2Q2017 Opportunity Day Presentation

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BUSINESS

2Q2017 Opportunity Day Presentation

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BUSINESS FOCUS

Develops superior quality warehouses and factories Provides total solutions for customers in strategic locations Is customer focus Targets AEC countries for expansion Increases recurring income from rental, management fee and dividend income

2Q2017 Opportunity Day Presentation

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International quality Ready-built and custom-developed buildings 18 popular industrial estates and 33 strategic logistics locations General Industrial Zones, Export Processing Zone or Duty-Free Zones Flexibility for business operations One-stop services

TOTAL SOLUTIONS PROVIDER OF INDUSTRIAL PROPERTIES

2Q2017 Opportunity Day Presentation

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Indonesia* PT SLP Surya TICON Internusa 1. Karawang, West Java

Area of development (in square meter)

  • Completed (phase-1)

34,560

  • Completed (phase-2a)

50,000

  • Completed (phase-2b)

74,000

2. Banjarmasin, South Kalimantan

Area of development (in square meter)

  • Under preparation

9,820

3. Makassar, South Sulawesi

Area of development (in square meter)

  • Under preparation

11,530

TICON GROUP

PORTFOLIO AT A GLANCE

Thailand* TICON and TPARK Factory space (in square meter)

  • Contracted

181,555

  • Available

218,225

  • Occupancy rate

45% Warehouse space (in square meter)

  • Contracted

499,304

  • Available

301,320

  • Occupancy rate

62%

✶ as of Jun.30, 2017

2Q2017 Opportunity Day Presentation

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LOCATION MAP

FACTORIES

18

LOCATION

2Q2017 Opportunity Day Presentation

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LOCATION MAP

WAREHOUSES

33

  • TPARK ROJANA (PRACHINBURI)

LOCATION

2Q2017 Opportunity Day Presentation

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LOCATION MAP

INDONESIA

Karawang, West Java

  • Surya Cipta

Makassar, South Sulawesi Banjarmasin, South Kalimantan

  • BizPark Commercial Estate

KALIMANTAN Population: 15.3 million Major Industry: Coal mining, Petroleum, Palm oil, Plywood SULAWESI Population: 18.5 million Major Industry: Nickel mining, Fisheries, Agriculture, Forestry JAVA Population: 141.3 million Major Industry: Manufacturing, Services, Tourism, Industrial land

2Q2017 Opportunity Day Presentation

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Bangkok and Hanoi = 1,337 KM Bangkok and Vientiane = 646 KM Bangkok and Ho Chi Minh = 863 KM Bangkok and Phnom Penh = 659 KM Bangkok and Yangon = 832 KM Bangkok and Kuala Lumpur = 1,479 KM Bangkok and Singapore = 1,836 KM

Thailand is ideally located between AEC and Southern China

Distance between..

THAILAND : LOGISTICS CENTER FOR CLMV

2Q2017 Opportunity Day Presentation

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Asian highway routes in Thailand help connect the country with Southern China and six ASEAN countries: 1. Myanmar 2. Laos 3. Vietnam 4. Cambodia 5. Malaysia 6. Singapore

THAILAND : EFFECTIVE ROAD INFRASTRUCTURE

2Q2017 Opportunity Day Presentation

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THAILAND : EXTENSIVE

TRACK INFRASTRUCTURE

Map Symbols

City Airport Customs checkpoint Single track railway Double track railway DTR under construction Future DTR to be built Hi speed railway to be built Hi speed railway phase 2 ASEAN railway annex Seaport Future seaport

Thailand’s railway system is sufficient for regional

  • transportation. In addition

it is developing more efficient tracks i.e. double track railway and railway for high speed train use around the country.

2Q2017 Opportunity Day Presentation

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TICON has over two million square meters of factory and warehouse space plus more than 3,000 rais of land bank in EEC area

EASTERN ECONOMIC CORRIDOR PROJECT

Source: NESDB, The Fiscal Policy Office, MKE-ISR

2Q2017 Opportunity Day Presentation

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GDP Growth 7.2% Household Consumption 9.3% Growth GDP Growth 5.9% Household Consumption 11.3% Growth GDP Growth 7.7% Household Consumption 9.5% Growth GDP Growth 7.4% Household Consumption 6.4% Growth

2Q2017 Opportunity Day Presentation

CLMV OPPORTUNITY FOR NEW INVESTMENT

Source: IMF, average 2011-2015

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COMPANY UPDATE

2Q2017 Opportunity Day Presentation

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50,000 170,000

Factory Warehouse

2017 TARGET

NEW RENTAL SPACE

[*area in square meter]

2Q2017 Opportunity Day Presentation

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Land Development Overseas Expansion Repayment of Debts Working Capital

2000 4000 6000 8000 10000 2,500 500 8,800 1,430

Capital (million baht)

Total 13,230 million baht

CAPEX PLAN

ON USE OF PROCEEDS FROM CAPITAL INCREASE

2Q2017 Opportunity Day Presentation

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3,090 1,820 1,000 1,006 157

Short term loans repayment Long term loans repayment Debentures redemption Local investment

2017 FIRST HALF

ACTUAL USE OF PROCEEDS FROM CAPITAL INCREASE

[*amount in million baht]

2Q2017 Opportunity Day Presentation

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FINANCIAL HIGHLIGHTS

2Q2017 Opportunity Day Presentation

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FIRST QUARTER 2017

EARNINGS REVIEW

(Unit : Million Baht)

Profit and Loss Statement 2Q2017 2Q2016 % change Rental and related service income 347 266 30% Management fee from funds/REIT 49 48

  • 2%

Sales of properties Interest income 28 4 Cost of rental and related services 109 63 73% Provision related to sales of properties (reversal) (41) 7 6 133 100 33% Depreciation cost 56 45 24% Share of profit from investments 58 64 Finance cost 151 204

  • 26%

Corporate income tax 21

  • 99%

Net income (loss) 45 (9) 600% Selling expenses Administrative expenses 600% 17%

  • 9%

2Q2017 Opportunity Day Presentation

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PERFORMANCE

Space under Rent

314,408 302,640 324,550 296,825 387,515 261,840 214,890 169,730 165,380 182,355 353,705 382,886 386,130 400,195 592,867 518,948 368,763 438,398 474,903 631,788 273,107 382,225 414,471 523,741 573,041 718,043 977,923 1,082,173 1,234,681 1,165,576 626,812 765,111 800,601 923,936 1,165,908 1,236,991 1,346,686 1,520,571 1,709,584 1,797,364

300,000 600,000 900,000 1,200,000 1,500,000 1,800,000 2,100,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 TICON TICON & TPARK Funds & REIT Total under management

Gross & Net Margin Total Revenue

3,521 3,422 2,618 3,140 2,296 6,048 6,681 6,165 5,349 1,873 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

77% 77% 76% 77% 72% 63% 76% 75% 71% 72% 54% 50% 47% 54% 52% 43% 45% 38% 38% 65% 30% 21% 25% 26% 19% 21% 21% 12% 14% 15% 0% 20% 40% 60% 80% 100% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 Gross margin - Without sales Gross margin - With sales Net margin 81% 78% 77% 82% 93% 76% 68% 52% 46% 49% 82% 79% 73% 78% 94% 76% 65% 60% 61% 63% 96% 98% 94% 98% 95% 90% 91% 86% 83% 79% 87% 87% 81% 87% 95% 82% 78% 74% 75% 73%

0% 20% 40% 60% 80% 100% 120%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 TICON TICON & TPARK Funds & REIT Total under management

Occupancy Rate

2Q2017 Opportunity Day Presentation

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PERFORMANCE

1.64 1.11 0.99 1.22 0.57 1.62 1.56 0.76 0.70 0.25 0.00 0.40 0.80 1.20 1.60 2.00

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

1,063 725 653 821 436 1,297 1,414 762 770 275

200 400 600 800 1,000 1,200 1,400 1,600 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Net Profit

Million Baht

Earnings per Share

Baht

EBITDA

3,193 2,965 2,192 2,612 1,773 5,152 5,515 4,918 4,097 1,375 1,000 2,000 3,000 4,000 5,000 6,000 End of Million Baht

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

2Q2017 Opportunity Day Presentation

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PERFORMANCE

End of

Return on Fixed Assets

End of

Return on Equity

16.0 10.8 10.2 12.1 7.1 12.9 10.1 3.2 2.6 0.9 0% 5% 10% 15% 20% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 22.5 14.9 13.3 15.5 7.7 19.0 17.1 6.6 6.6 2.4 0% 10% 20% 30% 40%

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

2Q2017 Opportunity Day Presentation

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FINANCIAL STATEMENT

Total Assets Debt to Equity Ratio

0.00 0.50 1.00 1.50 2.00 2.50

1.00 1.42 1.22 1.23 1.66 1.50 2.04 1.72 2.10 2.16 End of

4,000 8,000 12,000 16,000 20,000 24,000 28,000 32,000 36,000 40,000

4,852 4,849 4,994 5,597 5,740 7,897 8,687 11,466 11,689 11,418 4,831 6,885 6,115 6,888 9,549 11,839 17,764 19,743 24,598 24,675

Equity Liabilities

31,209 19,736 15,289 12,485 11,109 11,734 9,683 36,287 26,451

End

  • f

36,093

Million Baht

Time 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

2Q2017 Opportunity Day Presentation

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DIVIDEND PAYMENT

0.40 1.00 1.00 0.50 0.50 0.08 71.6% 70.3% 64.6% 72.1% 71.4% 52.8% 0% 10% 20% 30% 40% 50% 60% 70% 80% 0.00 0.20 0.40 0.60 0.80 1.00 1.20 2011 2012 2013 2014 2015 2016 DPS (Baht) Pay-out ratio

Baht/Share

End of

2Q2017 Opportunity Day Presentation

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THANK YOU

*Email: samart.r@ticon.co.th www.ticon.co.th

2Q2017 Opportunity Day Presentation

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2Q2017 Opportunity Day Presentation

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APPENDIX DATABASE

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Electronics Automotive Processed Food Energy & Petrochem Processed Rubber

Top Export Countries(3)

(January-June 2016) 1. ASEAN 25% 2. USA 11% 3. China 10% 4. Japan 10%

Top Export Products(3)

(January-June 2016) 1. Automobile & parts 2. Gems & jewelry 3. Computers & parts 4. Plastic pellets 5. Printed circuit boards

Top FDI Countries(1)

(January-May 2016) 1. Japan 2. Singapore 3. USA 4. Switzerland 5. Germany

Top FDI Industries(2)

(January-April 2016) 1. Automotive 2. Electronics 3. Petrochemical 4. Medical

Source : (1) The Bank of Thailand (2) The Board of Investment (3) The Commerce Ministry

THREE LARGEST INDUSTRIES

WITH ESTABLISHED CLUSTERS IN THAILAND

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  • Exports to ASEAN

(in THB million)

  • Exports to CLMV

(in THB million)

  • 500,000

1,000,000 1,500,000 2,000,000 Automobile & parts Petroleum products Gems & jewelries Chemicals Machineries & parts Sugar Plastic pellets Computers & parts Steels Air conditioners Others Total exports 6M2016 2015 2014 2013

  • 200,000

400,000 600,000 800,000 Petroleum products Automobile & parts Beverages Steels Chemicals Air conditioners Machineries & parts Sugar Plastic pellets Plastic products Others Total exports 6M2016 2015 2014 2013

Source : The Commerce Ministry

THAI EXPORTS

TO CLMV STILL STRONG

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SAMPLE OF TENANTS

FACTORY

✶ as of April 28, 2017

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SAMPLE OF TENANTS

WAREHOUSE

✶ as of April 28, 2017

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ASSET PROFILE

Amata Nakorn Rojana Ayudhya Hi-Tech Amata City Pinthong Navanakorn Bangpoo Bangpa-in Bangna

0% 5% 10% 15% 20% 25% 30%

Location Mix

Occupied 77% Vacant 23%

Occupancy

* as of Dec.30, 2016 Factory 97% Warehouse 3%

Assets Mix

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Laemchabang Wangnoi 1 Bangna ESIE 1A Rojana Ayudhya 0% 10% 20% 30%

Location Mix

Occupied 80% Vacant 20%

Occupancy

Factory 0% Warehouse 100%

Assets Mix

* as of Dec.30, 2016

ASSET PROFILE

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Bangna Amata Nakorn Amata City Rojana… Pinthong Hi-Tech Navanakorn 0% 20% 40% 60%

Location Mix

Occupied 86% Vacant 14%

Occupancy

Factory 39% Warehouse 61%

Assets Mix

* as of Dec.30, 2016

ASSET PROFILE

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Bangplee 1 Bangplee 3 Sriracha Laemchabang 2 Pinthong ESIE 2A Amata Nakorn Bangna ESIE 1B Phanthong 1 Rojana Prachinburi Wangnoi 2 Amata City Hi-Tech Hemaraj Chonburi Rojana Ayudhya

0% 10% 20% 30%

Column1

Occupied 78% Vacant 22%

Occupancy

Factory 21% Warehouse 79%

Assets Mix

* as of Nov.30, 2016

ASSET PROFILE