Company Visit Q1/2019 Strictly Private & Confidential Table of - - PowerPoint PPT Presentation

Strictly Private & Confidential

Company Visit Q1/2019

Strictly Private & Confidential Page 1

Table of Content

Company Overview Financial Highlights Q1/2019 Business Outlook 2019

Strictly Private & Confidential

Company Overview

Strictly Private & Confidential Page 3

Sahathai at a Glance

Business Description Business Description

 Sahathai offers one-stop solution of logistic activities mainly in water transportation. The company’s services currently include terminal operation, in-land transportation, warehouse and yard rental services, and other related service in water logistic  With its strategic location on the Chao Phraya River, Sahathai’s customers rely on its ability to meet their requirements with a full range of solutions and support services, all

• f which meet international best practice standards while allowing the flexibility only an

independent operator can offer

Company’s Vision Company’s Vision

“To be Thailand’s innovative logistics solution provider of choice”

Leading private port operator providing total logistic solution

Business Operating companies Key Scope of Works Revenues contribution

(Q1/2018 – Q1/2019)

Revenue (Q1/2018) Revenue (Q1/2019) Service Location Terminal STT / BBT / BBS / BCDS

• 1. Feeder terminal
• 2. Barge terminal and barge transportation
• 3. Container Freight Station
• 4. Container Depot

81.5 – 84.5% 305.43 332.27 Samutprakarn/ Laemchabang In-land transportation STT In-land container transportation by truck fleets 10.0 – 6.7 % 37.57 26.32 Bangkok/ Samutprakarn/ Laemchabang Warehouse & Yard STT General & freezone warehouse and yard rental 7.8 – 8.0 % 29.03 31.41 Samutprakarn Others STT Freight forward 0.7 – 0.8% 2.64 3.05 Samutprakarn 374.67 393.05

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Our Evolution

• The company was

founded in 2008, named Sahathai Coastal Seaport, to support Sahathai Steel Pipe (“STS”) for terminal handling service 2008

• Partner with Mitsui

OSK Shipping Line (“MOL”) to establish Bangkok Barge Terminal (“BBT”) to set up new barge terminal

2015

• Partner with

Mediterranean Shipping Company (“MSC”) to establish Bangkok Barge Services (“BBS”) for barge transportation service 2016 2017

• BCDS was found to be transferred the

container depot operation from Sahathai 2020 2013

Total Logistic Solution Expansion, Diversification & Strategic Alliance Start-up

• Rebranded to

Sahathai Terminal in

• rder to be well-

known recognized by customers

• BBT is the first company in Thailand which has been

granted Inland Container Depot (ICD) license for water transportation

• Mobile X-ray is allowed to use in Sahathai’s port

2018 2019

• BTS was found to be

transferred in-land transport from Sahathai

• Partner with Mitr Phol to

establish Bangkok River Terminal (“BRT”) to set up new feeder terminal

• AMP Terminal (“APMT”) signing MOU to join

Bangkok River Terminal (“BRT”) to set up new feeder terminal

• Partner with Frasers property (“FPT”) to

establish Bangkok Logistic Park (“BLP”) to set up warehouse project

• The company

plans to be a Total Logistics Solution Providers with integrated services in logistics for customers

• PORT issue the new common share to

existing shareholders 92 million shares and issue PORT-W1 46 million shares for existing shareholders who subscription

BLP

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Group Structure

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Expert in terminal handling business

45 45 97 28 18

355 409 537 115 140

• 100

200 300 400 500 600 2016 2017 2018 Q1/2018 Q1/2019

1 2 1 1 Barge terminal 1 Berth (90 m) Barge terminal 1 Berth (90 m)

Sahathai Terminal Bangkok Barge Terminal

Operating areas Type of Services Types of Crane Main Equipment Customer References 89 of 121 Rais are utilized for Terminal handling (Lease 100%)

• Feeder &

Barge terminal

• Barge

transportatio n

• 4 Gantry

cranes

• 2 Jib cranes
• 2 RTG

cranes

• 1 Mobile

habour crane

• Reach

stackers

• Side stackers
• Yard trucks
• Material

handling equipment Operating areas Type of Services Types of Crane Main Equipment Customer References 39 Rais (Own 36%)

• Barge

terminal

• Barge

transportatio n

• 2 Jib cranes
• Reach

stackers

• Yard trucks
• Material

handling equipment

Unit: ’000 (TEUs)

Laden Empty

Container Throughput

BOI Privilege

8 years ended May 2023 8 years ended Oct 2024

Remark: Container throughput on the Company, BBT, and service provided to other ports

8 years ended Oct 2025

YoY +10% High efficiency of terminal operating system from professional platform

In-house developed software (PMS)

Booking arrangement and electronic data interchange (EDI), Container depot, CFS

Purchased software (TOS)

Resource optimization tool

 Efficiency on berth planning, crane scheduling, loading/unload sequencing and space planning  Cost reduction on redundant full-time employees  High creditability in terminal operation to customers  Ability to initiate terminal business in new ports in the future

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Operating areas Type of Services Main Equipment Container Throughput 12 Rais (Lease 100%)

• Stuffing
• Unstuffing
• Outsourcing equipment

and workers

38.85 33.67 40.33 11.46 15.07 6.56 6.63 5.74 1.24 1.24

• 10

20 30 40 50 2016 2017 2018 Q1/2018 Q1/2019

Container Freight Station Container Depot

Sahathai Terminal

CFS (Stuffing) (12 Rais) CFS (Stuffing) (12 Rais)

Shipper Exported goods

Stuffing

Imported goods Consignee

Unstuffing LCL/FCL LCL/FCL

Unit: ’000 (TEUs) Unstuffing Stuffing

Sahathai Terminal

Container Depot (15 Rais) Container Depot (15 Rais)

Operating areas Type of Services Main Equipment

• No. of serviced containers

15 Rais - prevoius

(Lease 100%) 37 Rais – Current

• nwards

(Own 100%)

• Cleaning
• Repair &

Maintenance

• Lifting
• Storage
• Outsourcing

equipment and workers

31.66 57.84 87.03 18.52 21.80 39.08 64.78 95.38 21.71 24.69

• 20

40 60 80 100 120 2016 2017 2018 Q1/2018 Q1/2019 Beginning in 2Q2016 Repair & Maintenance Cleaning

Reposition Container Return to Shipping agents/ Exporters for stuffing Consignee Return Container

Container depot service (Imported by shipping agents) (Returned by Consignee) Reposition Container: service fee charged to Agents

Exported goods

Consignee Return Container: service fee charged to Agents/Consignee

Unit: ’000 (TEUs)

Container Yard (LCL) (Unstuffing) Container Yard (LCL) (Unstuffing)

YoY +28%

YoY +16%

BCDS

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32.99 2.26 2.45

• 20

40 60 80 100 120 140 2016 2017 2018 Q1/2018 Q1/2019

Leasable area : 20,766 sqm Tenant : 6 tenants (Lazada & companies in foods, steel, ceramic, can, etc.) Contract period : 3 years

In-land Transportation

Chonburi (Laemchabang) Bangkok

Operating areas Type of Services Main Equipment

• No. of serviced containers

Bangkok/ Samutprakarn/ Chonburi

• In-land container

transportation by trucks

• Outsourcing trucks and

drivers

General & Freezone Areas

10.25 34.17 33.89 10.60 8.49

• 10

20 30 40 50 60 2016 2017 2018 Q1/2018 Q1/2019 Unit: ’000 (Containers) Serviced Containers

1

Service in Bangkok/Samut prakarn area

2

Service in Laem- chabang area

3

Service in between Bangkok/Samutprakarn and Laemchabang

Freight Forward

Exporter Importer Destination

• Warehouse
• Port
• Factory

Sahathai Terminal

Freezone Warehouse (15 Rais) Freezone Warehouse (15 Rais) General Warehouse General Warehouse Freezone yard Freezone yard (18 Rais) (18 Rais)

Freezone Areas

Freezone warehouse Freezone yard Service storage yard to customers

Leasable area : 17,511 sqm Tenant : Mercedes Contract period : 2 years + 2 years

(from May 17)

General warehouse

 Shipment organization for customers to ship imported/exported products from/to desired destinations through water transportation  Strategic networks with worldwide shipping agents

Exporter Importer

Request order

Shipping Agents

Negotiate on freight slots

Unit: THB million Beginning in 1Q2016 Revenue

Revenue

YoY -19.9%

YoY +8.5%

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Remark : 1. Based on international throughput volume (export and import) for 2018 2. Based on international throughput volume (export and import) for Q1/2019 3. From announced capacity of Bangkok Port by the government Source : Bangkok Ship owners and Agents Association (BSAA) 4. Based on domestic throughput volume (export and import) for 2018 5. Based on domestic throughput volume (export and import) for Q1/2019

Bangkok Port (Klong Toey Port)

• Owned by Port Authority of Thailand
• International throughput : 1.5 M. TEUs /1 / 0.35 M. TEUs
• 7 International Berth, with 14 quay gantry cranes
• Container yard of 148k sqm
• Estimated capacity : 1.34 M TEUs/3
• The biggest container terminal in Bangkok.
• Over utilized capacity

Bangkok Port (Klong Toey Port)

• Owned by Port Authority of Thailand
• International throughput : 1.5 M. TEUs /1 / 0.35 M. TEUs
• 7 International Berth, with 14 quay gantry cranes
• Container yard of 148k sqm
• Estimated capacity : 1.34 M TEUs/3
• The biggest container terminal in Bangkok.
• Over utilized capacity

Poo Jao Container Terminal

• Owned by Regional Container Lines PCL group (RCL) and

Thai Sugar Terminal PCL group (TSTE)

• International throughput : 0.10 M. TEUs /1 / 0.025 M. TEUs /2
• 1 International Berth, with 2 mobile harbor cranes.
• Container yard of 36k sqm.
• The port has just been open in 2016.

Poo Jao Container Terminal

• Owned by Regional Container Lines PCL group (RCL) and

Thai Sugar Terminal PCL group (TSTE)

• International throughput : 0.10 M. TEUs /1 / 0.025 M. TEUs /2
• 1 International Berth, with 2 mobile harbor cranes.
• Container yard of 36k sqm.
• The port has just been open in 2016.

Thai ProsperityTerminal

• Owned by The Siam Cement PCL group (SCG)
• International throughput : 0.02 M. TEUs /1 / 0.00 M. TEUs /2
• 1 International Berth, with 2 mobile harbor cranes.
• Container yard of 40k sqm.
• Mainly used by SCG group.

Thai ProsperityTerminal

• Owned by The Siam Cement PCL group (SCG)
• International throughput : 0.02 M. TEUs /1 / 0.00 M. TEUs /2
• 1 International Berth, with 2 mobile harbor cranes.
• Container yard of 40k sqm.
• Mainly used by SCG group.

Unithai Container Terminal

• Owned by United Thai Shipping Corporation
• International throughput : 0.15 M. TEUs /1 / 0.038 M. TEUs /2
• 1 International Berth, with 3 quay gantry cranes
• Container yard of 60k sqm.

Unithai Container Terminal

• Owned by United Thai Shipping Corporation
• International throughput : 0.15 M. TEUs /1 / 0.038 M. TEUs /2
• 1 International Berth, with 3 quay gantry cranes
• Container yard of 60k sqm.

BMT Pacific Terminal

• Joint venture between 1. Bangkok Modern Terminal, a

private terminal operator 2. Pacific International Lines Pte, a shipping line 3. Eastern Maritime (Thailand), a shipping agency.

• International throughput : 0.08 M. TEUs /1 / 0.019 M. TEUs /2
• 1 International Berth, with 3 mobile harbor cranes

BMT Pacific Terminal

• Joint venture between 1. Bangkok Modern Terminal, a

private terminal operator 2. Pacific International Lines Pte, a shipping line 3. Eastern Maritime (Thailand), a shipping agency.

• International throughput : 0.08 M. TEUs /1 / 0.019 M. TEUs /2
• 1 International Berth, with 3 mobile harbor cranes

Siam Suksawat Terminal

• Owned by Siam gas and Petrochemical PLC group (SGP),

Operated by River Port Investment Pte. (Singapore)

• International throughput : 0.05 M. TEUs /1 / 0.013 M.TEUs /2
• 1 International Berth, with 2 quay gantry cranes.
• Container yard of 40k sqm
• The port has just been open in 2016.

Siam Suksawat Terminal

• Owned by Siam gas and Petrochemical PLC group (SGP),

Operated by River Port Investment Pte. (Singapore)

• International throughput : 0.05 M. TEUs /1 / 0.013 M.TEUs /2
• 1 International Berth, with 2 quay gantry cranes.
• Container yard of 40k sqm
• The port has just been open in 2016.

Bangkok Barge Terminal

• Domestic throughput : 0.17 TEUs /4 / 0.039 M. TEUs /5
• 1 Domestic Berth, with 2 jib cranes.
• Container yard of 30,021 sqm.
• The port has just been open in 2016 for domestic shipment.

Bangkok Barge Terminal

• Domestic throughput : 0.17 TEUs /4 / 0.039 M. TEUs /5
• 1 Domestic Berth, with 2 jib cranes.
• Container yard of 30,021 sqm.
• The port has just been open in 2016 for domestic shipment.

Sahathai Terminal

• International throughput : 0.20 M. TEUs /1 / 0.041 M. TEUs /2
• Domestic throughput : 0.047 million TEUs /5
• 1 International Berth, with 4 quay gantry cranes and 1 mobile

harbor crane.

• 2 Domestic Berth, with a jib crane each.
• Container yard of 60,929 sqm.

Sahathai Terminal

• International throughput : 0.20 M. TEUs /1 / 0.041 M. TEUs /2
• Domestic throughput : 0.047 million TEUs /5
• 1 International Berth, with 4 quay gantry cranes and 1 mobile

harbor crane.

• 2 Domestic Berth, with a jib crane each.
• Container yard of 60,929 sqm.

Industry Update

Strictly Private & Confidential Page 10

Covered investment to capture growth

 Reach stackers, Warehouse, Container yard  Crane, Container yard  Barges  Land & Construction 199 346 277 593 448

67 66 60 60

190

2014 2015 2016 2017 2018 2019E 2020E CAPEX Unit: THB Million

High Investment in 2017 due to investment in BCDS and freezone warehouse and in 2018 due BCDS construction, quay crane and leasehold right

Land upfront PORT CAPEX BRT & BLP

CAPEX in new assets for better performance

10 20 30 40 50 60

4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 25 50 75 100 125 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2015 2016 2017 Unit: ‘000 TEUs Maximum capacity (420k TEUs/year)

Container Throughput - Sahathai

Potential upside after container depot is moved to BCDS

2018

Container Throughput - BBT

Maximum capacity (240k TEUs/year)

Unit: ‘000 TEUs

10 20 30 40 50 60 70 80 90 100

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2017 Unit: ‘000 TEUs

Maximum capacity (180k TEUs/year)

2018

Container Throughput - Depot

2016 2017 2018 (500k TEUs/year) (350k TEUs/year) 2019 2019 2019

Strictly Private & Confidential Page 11 Name : Mitsui O.S.K. Lines (“MOL”) /1 Country : Japan (Listed in Tokyo Stock Exchange) Market Cap. : ~USD 3.82 billion

TEUs capacity Carrier Fleet

Strategic Partner Profile

Risk mitigation by business alliance model

544 k 78 2.5%

Name : Mediterranean Shipping Company (“MSC”) Country : Switzerland (Non-Listed) Market Cap. : n.a.

Source : Alphaliner Top 100 as of 3 October 2017 Note : 1. Expected numbers after merging with Nippon Yusen Kabushiki Kaisha (NYK Line) and Kawasaki Kisen Kaisha (K Line) in April 2018 to be Ocean Network Express (“ONE”)

• 2. Estimated figure for ONE after merger

Strategic partner formula

Market share World Ranking

11

TEUs capacity Carrier Fleet

3,142 k 511 14.7%

Market share World Ranking

2

Strategic partner formula

 The company partners with variously worldwide shipping companies and is looking for other opportunities in order to expand the business by joint venturing or in any form to set up new companies to support existing operations and possibly diversify to new businesses  Partnership with shipping companies around the world allows the company to initiate new business in recent years. For example, the company can use its container volumes in hands to negotiate with shipping companies in order to obtain freight forward services at low price and desired routes 6.6% /2 6 /2

1,424 k /2 230 /2

Opportunity and Benefits from Strategic/Business Partners

Strictly Private & Confidential Page 12

Strategic Partner Profile

Risk mitigation by business alliance model

Strategic partner formula

https://www.krungsri.com/bank/getmedia/64a1559a-2938-4f48-b5af-c601e52f660c/IO_Sugar_2018_EN.aspx

Name : Mitr Phol Group Country : Thailand (Non-Listed) Asset size : ~THB 102,552 million

Market share

Sugar Export Ranking

19% 1

https://shippingwatch.com/secure/carriers/Container/article11027398.ece

Name : APM Terminals (“APMT”) Country : Netherland (Non-Listed) Service Network : 172 Port and inland facility in 57 countries

TEUs capacity

Parent company

Market share World Ranking

1 19.4%

12M TEUs

Strictly Private & Confidential Page 13

Name : Frasers Property (Thailand) Public Company Limited (Formerly “Ticon”) Country : Thailand (Listed in Thailand Stock Exchange) Market Cap. : ~THB 34,000 million (5 July 2019) Warehouse

Strategic Partner Profile

Risk mitigation by business alliance model

Strategic partner formula

BLP

Bangkok Logistics Park Co, Ltd

Occupancy Rate Related

731,314 Sq. M. 187 warehouses 74%

Strictly Private & Confidential

Financial Highlights

Strictly Private & Confidential Page 15

NI (Parent)

Overall performance – Consolidated

Total Revenues (THB million) Profits (THB million) 236 242 398 103 101

174 185 300 79 82

80 62 137 36 36 21.8% 18.0% 25.6% 27.4% 25.8% 16.1% 13.8% 19.2% 21.1% 20.8% 0% 5% 10% 15% 20% 25% 30% 50 100 150 200 250 300 350 400 450 500 2016 2017 2018 Q1/2018 Q1/2019

Gross Profit EBITDA % GP (RHS) % EBITDA (RHS)

Total revenues show slightly continuous growth

• Total revenues have been continuously increasing from 2014, which

mainly came from growths in terminal handling operations and in continuous additions of other related businesses

• In 2018 total revenue increased from higher container throughput from

feeder and barge and Bangkok Barge Terminal Co., Ltd. has been able to fully support commercial services for both inbound and

• utbound cargo.
• In Q1/2019 total revenue increased from higher container throughput

from barge service and Bangkok Barge Terminal Co., Ltd. has been able to fully support commercial services for both inbound and

• utbound cargo.

Continuous improvement of EBITDA and net profit

• The company shows continuous improvement of gross profit, EBITDA

and net income (except only slight drops in 2017) along with the growths in revenues

• In 2017, the company saw improvements in gross profit and EBITDA

but drops in margins due to incompletely full operation of BBT

• In 2018, Gross profit, EBITDA and net profit increased from the

company has more volume from feeder and barge activity together with Bangkok Barge Terminal Co., Ltd. which can provide fully service resulting in an increase in gross profit.

• In Q1/2019, EBITDA and net profit slightly increased as the revenue

increasing.

921 1,022 1,287 305 332

58 95 115 38 26 54 104 120 29 31

47 124 35 3 3 200 400 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2016 2017 2018 Q1/2018 Q1/2019

In-land transportation Warehouse & Yard Terminal Others

4.9%

1.57%

Strictly Private & Confidential Page 16

Terminal – Terminal handling (Feeder & Barge)

Revenues (THB million) Container Throughput (’000 TEUs) 352 409 537 115 140 48 45 98 28 18 100 200 300 400 500 600 2016 2017 2018 Q1/2018 Q1/2019

Barge service volume in both Sahathai and BBT are the main factors of increasing in Q1/2019 performance

• In 2016, the company experienced growth in terminal handling business thanks to an increase of new acquired customers in both internal and other ports

while revenues in 2017 increased from the same period in previous years, which the operation of BBT, starting in 4Q2016, was already factored in

• Revenues from feeder segment declined in 2017 since some customers changed their mode from feeder too barge while one was merged with other

shipping agents and switched the service to other terminals. Nevertheless, the company already replaced its diminished customers with new ones in late of second quarter of 2017 in which it shall reflect in the company’s performance thereafter

• In 2018, revenues from barge continue increased by increasing volume service in BBT. And the increase in feeder volume because in the second quarter of

2017, the company lost one customer, which was acquired and moved to Bangkok Port. The company has been able to find customers to replace since late the 3rd quarter of 2017 and in the 4th quarter, the company has got a new service, resulting in a significant increase in service volume which is a lot impact to growth in revenues from feeder.

• In Q1/2019, revenues from barge service continue increased and increasing volume service in BBT is the key of rising.

545 679 955 185 198 225 172 272 70 58 200 400 600 800 1,000 1,200 1,400 2016 2017 2018 Q1/2018 Q1/2019

Feeder Barge

Laden

Empty

Remark: Container throughput on the Company, BBT, and service provided to other ports

10.49% 4.11%

Strictly Private & Confidential Page 17

Terminal – CFS/LCL & Container Depot

CFS/LCL Container Depot

CFS/LCL revenues continue rise by volumes

• In 2017, revenues and number of serviced containers

dropped from the same period in previous year as its one main customer decided to alter the service to other terminals in early of second quarter in 2017.

• However, the company already replaced its diminished

customer with the new ones in late of second quarter in this year and it cause of increment in revenues and number of serviced containers in 2018 and continue rise in Q1/2019 Fully operation of BCDS factors start in the end of 2018.

• Being transferred the operational assets from related company, the company

started container depot service in 2Q2016 and immediately recognized revenue of THB 66 million in 2016 while revenues and number of serviced containers in 2017 surged from the same period in previous year

• After transferring container depot operation to BCDS, the company will have

more capacity to enhance its growth from the bigger land areas. Otherwise, the existing land areas for current container depot operation in Sahathai shall be used for terminal handling business which it might also increase the capacity for feeder and barge operations

• In 2018 STT start operate BCDS in 2nd quarter and 4th quarter which is

reason of increment in revenues and number of serviced containers, and it is the cause of continue rising in Q1/2019

85 70 84 22 30 45 40 46 13 16 5 10 15 20 25 30 35 40 45 50 10 20 30 40 50 60 70 80 90 100 2016 2017 2018 Q1/2018 Q1/2019

• No. of Serviced Containers

Revenu e

Unit: ’000TEUs Unit: THB million

66 90 121 28 46

182 40 58

20 40 60 80 100 120 140 160 180 200 20 40 60 80 100 120 2016 2017 2018 Q1/2018 Q1/2019

• No. of Serviced Containers

Revenue

Unit: ’000TEUs Unit: THB million

66.0 % 36.9%

Strictly Private & Confidential Page 18

In-land Transportation

High growth due to the expansion of business (Bangkok/Samutprakarn to Laemchabang)

• In 2016, the company improved its dropped revenues in previous year by starting providing in-land transportation service through Bangkok-

Lamchabang route, reflecting in growth of total revenue in this segment in 2016 even the number of serviced containers slightly decreased

• In 2017, revenues and number of serviced containers surged from the same period in previous year due to its new launched business plan since

3Q2016 and excess container demands from feeders and barges.

• In 2018, BTS was found to be transferred in-land transport from Sahathai.
• In Q1/2019, number of serviced containers decrease from one customer change to reposition containers direct to Sahathai Terminal by feeder.

Revenues (THB million) Serviced Containers (’000 Containers) 10 34 34 11 8 10 20 30 40 50 60 70 2016 2017 2018 Q1/2018 Q1/2019 58 95 115 38 26 20 40 60 80 100 120 2016 2017 2018 Q1/2018 Q1/2019

• 19.9 %
• 30.0 %

Strictly Private & Confidential Page 19

11 5 2 1

36 119 33 2.27 2.45

20 40 60 80 100 120 2016 2017 2018 Q1/2018 Q1/2019 41 45 40 9 9 59 102 25 28 20 40 60 80 100 120 140 2016 2017 2018 Q1/2018 Q1/2019

Warehouse & Yard and Others

Revenues from Warehouse & Yard (THB million) Revenues from Others (THB million)

Warehouse & Freezone Warehouse Freezone Yard

Growth in warehouse

• In 2016, the company gained new exported/imported customers for

general warehouse service, reflecting in secured revenues in 1-3 years from this service thereafter

• In 2017, the company completed a construction of freezone

warehouse and began its service to Mercedes in May 2017 with 4- year contract.

• In 2018, the full year of operate freezone warehouse which cause of

increasing in revenues, and it is also the reason of increasing in Q1/2019 Key driver from freight forward service

• In 1Q2016, the company initiated freight forward operation with STS and has

been experiencing growth in kind of business due to increasing volumes from the only one customer. In this regard, the company plans to acquire new customers to diversify source of income and potentially provide other services to such acquired customer

• In 2018 and Q1/2019, revenues from freight forward slow down from 2017

as our main customer changed from freight container to freight bulk and it cause of change in accounting entry of revenues.

Others Freight forward

15.7% 8.20%

Strictly Private & Confidential Page 20

Overall Financial Position

Assets, Liabilities and Shareholder’s Equity (THB million) Ratios (Times) 1,650 2,340 2,810 2,842 1,286 1,418 1,746 1,742 364 922 1,065 1,100 2.14 1.16 1.19 1.18 4.47 5.79 4.91 4.34 (14) (9) (4) 1 6 500 1,000 1,500 2,000 2,500 3,000 2016 2017 2018 Q1/2019

Assets Liabilities Shareholder's Equity IBD/Equity IBD/EBITDA

5.2% 2.6% 4.9% 6.8% 24.4% 9.6% 12.9% 14.3%

• 10%
• 5%

0% 5% 10% 15% 20% 25% 30% 2016 2017 2018 Q1/2019 ROA ROE

Key ratios temporarily drop in 2017

• In 2017, the company’s net profit dropped since land rentals in some leased

areas increase as per rental agreement. In addition, the company consolidated fixed cost and SG&A increased as BBT had been incompletely

• perating in full capacity, also reflecting in drop of ROA ratios. Nevertheless,

from 3Q2017 onwards, after obtaining ICD license, it is expected that BBT will be able to begin running its operation with increasingly utilized capacity and its improved performance will factor in improved consolidated net profit thereafter

• In 2018 and Q1/2019 ROA

and ROE increased as the company performance. Significant increase in fixed assets from high capital expenditure

• The company’s fixed assets significantly increased from THB 1,187 million in

2015 to THB 1,650 million in 2016 from new purchase of lands and operating cranes, and amelioration of container yards in Sahathai and BBT. The fixed assets were mainly financed by long-term loans from financial institutions

• In 2017 and 2018 The company’s fixed assets significantly increased from

investing in BCDS and new quay cranes and leasehold right.

• Total interest bearing debts to Equity ratios dropped in 2016 due to the

company’s increased performance and significantly decreased in 2017 as the company issued the new share for IPOs.

Strictly Private & Confidential

Business Outlook 2019

Strictly Private & Confidential Page 22

7,022 79,476 166,289

• 50,000

100,000 150,000 200,000 2016 2017 2018

VOLUME

Continue Growth in BBT

ICD & FDA License

“Port” partner with Mitsui OSK Shipping Line (“MOL”) to establish Bangkok Barge Terminal (“BBT”) to set up new barge terminal BBT has got BOI in Oct 2016 and started operate in Nov 2016 Bangkok Barge Terminal have signed contract with ONE Line (Thailand), and has got the first container shipment in Apr 2018 BBT has obtained ICD License and FDA License in Oct 2017

Key diver

TEUs

July 2015 2016 2017 2018 2019

Strictly Private & Confidential Page 23

First Year Fully operation in container depot service (BCDS)

Started operate in Oct 16, 2018 Started operate in Apr 17, 2018 2nd Phase 1st Phase

350,000 TEUs 350,000 TEUs 180,000 TEUs 180,000 TEUs

Strictly Private & Confidential Page 24

Expand Yard 24,000 Sq.m. (increasing in terminal capacity about 20%)

Reefer Yard for 300 Plug stations

Expand Yard and Reefer Yard

Strictly Private & Confidential Page 25

Bangkok River Terminal

Exporter

Terminal Shipper

Strategic Partner

Commercial international port project. 33% 29% 38%

Registered Capital : 150 mm. Baht (Paid up 37.5 mm. Baht) Objectives : The international feeder terminal project to support increasing in container throughput and expand capacity in terminal service. Location : Span on an area of

• ver 72,000 square meters, which located at No.

131 Moo. 2, Samrong Klang Sub-district, Phrapradaeng District, Samutprakan Province. Registered Capital : 150 mm. Baht (Paid up 37.5 mm. Baht) Objectives : The international feeder terminal project to support increasing in container throughput and expand capacity in terminal service. Location : Span on an area of

• ver 72,000 square meters, which located at No.

131 Moo. 2, Samrong Klang Sub-district, Phrapradaeng District, Samutprakan Province.

BOI 8 years

APM Terminals operates one of the world’s most comprehensive port and integrated inland service networks. It services the trade through a team of 22,000 industry professionals across a network of 76 ports and over 100 inland services locations

• globally. It is a part of A.P. Moller-Maersk -

world’s leading integrated container logistics company, APM Terminals has been servicing the export import and domestic trade through integrated container logistics solutions over the last 70 years. The company is leading private port operator providing total logistic solution. The company provides principal businesses comprise of 4 categories as follows; 1. Terminal business,

• 2. In-land transportation business, 3. Rental

area and warehouse business, 4. Other related services business Mitr Phol Group is the world’s third largest and Thailand’s largest sugar producer with 16 sugar mills, 8 power plants and 4 ethanol distilleries, contracting 143,000 farmers across Thailand, Laos, China and Australia. It is also Asia’s largest bio-energy producer and has a business in wood substitute materials, fertilizers and agriculture-related logistics. For logistics business, Mitr Phol Group has two commodities terminals in Thailand. Both terminals export 3.3 million tons of sugar, or around 36% market share of the Thai sugar export.

Strictly Private & Confidential Page 26

Business Expansion

Bangkok River Terminal

Bangkok River Terminal

71%

83%

Continue growth in service volume and high utilization rate

Market share

Sugar Export Ranking

19% 1

TEUs capacity

Parent company

Market share World Ranking

1 19.4%

12 m. TEUs

Strategic/Business Partners and Risk mitigation

Strictly Private & Confidential Page 27

Bangkok Logistic Park

Strategic Partner

75% 25%

Warehouses and industrial properties in Thailand.

The Company provides international standard factories and logistics warehouses for rent and sale in industrial estates, industrial park and other potential locations, and also

• ffers
• ther

services in regard to commencing their production in Thailand. The company is leading private port operator providing total logistic solution. The company provides principal businesses comprise of 4 categories as follows; 1. Terminal business, 2. In-land transportation business, 3. Rental area and warehouse business, 4. Other related services business

Registered Capital : 300 mm. Baht (Paid up 180 mm. Baht) Objectives : To invest, own, develop, operate and manage the logistics parks, warehouses and industrial properties in Thailand to supporting the customers need of both partners including e-commerce operators, importers, exporters, third party logistics and shipping

• perators that have grown rapidly in line with the digital business trend.

Location : Span on an area of

• ver 40,000 square meters in the border area of

Bangkok Registered Capital : 300 mm. Baht (Paid up 180 mm. Baht) Objectives : To invest, own, develop, operate and manage the logistics parks, warehouses and industrial properties in Thailand to supporting the customers need of both partners including e-commerce operators, importers, exporters, third party logistics and shipping

• perators that have grown rapidly in line with the digital business trend.

Location : Span on an area of

• ver 40,000 square meters in the border area of

Bangkok

Strictly Private & Confidential Page 28

Bangkok Logistics Park

Business Expansion

Sahathai Terminal

Freezone Warehouse (15 Rais) Freezone Warehouse (15 Rais) General Warehouse General Warehouse Freezone yard Freezone yard (18 Rais) (18 Rais)

Occupancy Rate

100%

Warehouse area

38,277 sqm.

Related

Strictly Private & Confidential

Strictly Private & Confidential

Some statements made in this material are forward-looking statements with the relevant assumptions, which are subject to various risks and

• uncertainties. These include statements with respect to our corporate plans, strategies and beliefs and other statements that are not historical facts.

These statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “intend”, “estimate”, “continue” “plan” or other similar words. The statements are based on our management’s assumptions and beliefs in light of the information currently available to us. 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. Please note that the company and executives/staff do not control and cannot guarantee the relevance, timeliness, or accuracy of these statements.

Disclaimers

THANK YOU

For more information, Please visit our website: www.sahathaiterminal.com

• r contact us at ruthairat.b@sahathaiterminal.com Tel. +66 (0) 2386 8000 # 1888

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