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() DEMCO PUBLIC COMPANY LIMITED 10 SEPTEMBER 2019 1. Factory & Sale Steel structure for transmission line and telecommunication tower 2. SERVICES (as turnkey
บริษัท เด็มโก้ จํากัด (มหาชน)
DEMCO PUBLIC COMPANY LIMITED 10 SEPTEMBER 2019
– Steel structure for transmission line and telecommunication tower
– Electrical system – Mechanical system – Renewable Power Plant (Wind farm, Solar farm, Waste to energy)
– Power Plant : wind farm & Solar farm & Waste to energy – Public Utility 2
Telecommunication Tower
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High Voltage Transmission Line Annual capacity 16000 ton per year
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Hydro/Power Plant
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Electrical System
500 kV - 230 kV Substation 230 kV - 115 kV Substation
115 kV - 22 kV Substation
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1. High Voltage Transmission Line System Construction :
To transmit electrical power from electrical generators to 69 kV – 500 kV substations Hot dip galvanized steel tower for transmission line manufactured by DEMCO PLC as well.
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To control, monitor, and step up/down 69 kV – 500 kV power system transmitted from electrical generators through high voltage transmission line Air Insulated or Conventional Type (Out door) SF6 Gas Insulated Type (In door)
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System Construction :
HV Distribution system – Concrete poles with accessories construction & stringing conductors or cables to 22kV or 33 kV electrical equipment HV Underground Cable System – Conduit work and 22 kV – 115 kV underground cable extrusion
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Design, procure, construct, install, and maintain public utility system of electrical system, air conditioning & ventilating system, sanitary system, and high pressure piping system for gas or steam
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Renewable Energy :
Design , procure, construct, and install equipment for renewable power plant of Biomass, Wind farm and Solar energy
Past Experience :
– Constructed 453 mw wind farm as balance of plant contractor , contracts amount ฿ 8,046 million – Constructed 321 mw solar farms , contracts amount ฿ 8,677 million
10 Wind farm : 57.9 mw. 15% in 180 mw. Wind farm (operated 2012 – 2013) = 27.0 mw. 14% in 60 mw. Wind farm (operated 2016) = 8.4 mw. 3.9% in 576 mw. Wind farm (126 mw. operated) = 22.5 mw. Solar farm : 3.0 mw. 100% in 1 mw. Solar rooftop (COD operated 2014) = 1.0 mw. 45.7% in 3 mw. Solar farm (COD operated 2014) = 1.3 mw. 49-51% in 1.4 mw. Solar rooftop (COD operated 2015) = 0.7 mw. Water supply system: 100% in water supply system concession (operated 2017)
11 Revenue decreased 27% Q2’18 o Q2’19 ( 1,175 MB ⇨ 859 MB ) Revenue decreased 36% 1H’18 o 1H’19 ( 2,459 MB ⇨ 1,565 MB ) Gross profit decreased 6% Q2’18 o Q2’19 ( 136 MB ⇨ 128 MB ) Gross profit decreased 13% 1H’18 o 1H’19 ( 289 MB ⇨ 252 MB ) Gross profit margin increased Q2’18 o Q2’19 ( 11.66% ⇨ 15.10% ) Gross profit margin increased 1H’18 o 1H’19 ( 11.88% ⇨ 16.32% ) Net profit decreased 88% Q2’18 o Q2’19 ( 50.51 MB ⇨ 5.88 MB ) Net profit decreased 55% 1H’18 o 1H’19 (128.31 MB ⇨ 57.54 MB ) Net profit margin decreased Q2’18 o Q2’19 ( 4.30% ⇨ 0.68% ) Net profit margin decreased 1H’18 o 1H’19 ( 5.22% ⇨ 3.68% )
Revenues by Categories : ฿ million ,% Statement of Comprehensive Income - Revenues Structure
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200 400 600 800 1,000 1,200 Q2'17 Q2'18 Q2'19
Other Sales Service total
859 1,175 947 24%
88% 11% 1% 82% 18% 0% 1% 5% 94%
500 1,000 1,500 2,000 2,500 1H'17 1H'18 1H'19
Other Sales Service total
Total revenue of Q2’19 and 1H’19 decreased 27% and 36% compared to the same period of Y’18 from the reduction in sale business both electrical equipment and telecommunication towers.
1,565 2,459 2,185 13%
81% 18% 1% 78% 21% 1% 2% 6% 92%
50 100 150 200 250
Q2'17 Q2'18 Q2'19 Electrical equipments Steel Structure total
Statement of Comprehensive Income - Revenues Structure Revenues from Sale : ฿ million ,%
101 209 41
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91% 9% 44% 56% 42% 58% 107%
Revenues from sale of Q2’19 and 1H’19 decreased 80% and 81% compared to the same period of Y’18 from the decrease revenue of selling electrical equipment and telecommunication towers because the communication system 4G is coming to the end of the investment period.
100 200 300 400 500 600
1H'17 1H'18 1H'19
Electrical equipments Steel Structure total
389 513 98
32% 53% 47% 55% 45% 57% 43%
500 1,000
Q2'17 Q2'18 Q2'19 Other Electrical work Renewable Total
Revenues from services of Q2’19 and 1H’19 decreased 16% and 25% compared to the same period of Y’18. The decreasing came from construction works of substations, from private sector.
Revenues from Services : ฿ million ,% Statement of Comprehensive Income - Revenues Structure
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834 961 808 15%
51%36% 13% 3% 3% 93% 4% 96% 1%
500 1,000 1,500 2,000
1H'17 1H'18 1H'19 Other Electrical work Renewable Total
1,770 1,922 1,443 9%
58% 32% 10% 4% 2% 92% 4% 95% 3%
For Q2’19 and 1H’19 , the percentage of works from Government Sector increased due to the increasing in EGAT’S
energy is changing from solar farm and wind farm to solar rooftop and waste to energy power plant.
500 1,000
Q2'17 Q2'18 Q2'19 Government Private Total
Revenues by Customers : ฿ million ,%
808 961 834
Statement of Comprehensive Income - Revenues Structure
15%
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61% 39% 53% 47% 27% 73%
500 1,000 1,500 2,000
1H'17 1H'18 1H'19 Government Private Total
1,922 1,770 1,443 61% 39% 52% 48% 27% 73%
9%
50 100 150 Q2'17 Q2'18 Q2'19 Gross Profit - sales Gross profit - service Total
Gross Profit : ฿ million ,% Statement of Comprehensive Income Earning from operation
Gross profit of Q2’19 and 1H’19 decreased 6% and 13% because of the reduction in revenue which decreased 27% and 36%, when compared to the profit of Y’18.
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94 136
45% 128 81% 19% 91% 9% 99% 1%
100 200 300
1H'17 1H'18 1H'19
Gross Profit - sales Gross profit - service Total
252 289
22% 238 74% 26% 88% 12% 95% 5%
Statement of Comprehensive Income Earning from operation
15.10% 11.66% 10.06%
0% 5% 10% 15% 20%
Q2'17 Q2'18 Q2'19
Gross profit margin
Average Gross Profit margin : %
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Average gross profit margin of Q2’19 and 1H’19 increased when compared to the same period of Y’18 because of the higher GP in service business.
16.32% 11.88% 11.00% 0% 5% 10% 15% 20%
1H'17 1H'18 1H'19
Gross profit margin
49% 44% 56%
415%
51%
10 20 30 40 50
Q2'17 Q2'18 Q2'19
Profit exclude share profit (loss) associates Share profit(loss) associates
Net Profit : ฿ million ,% Statement of Comprehensive Income Earning from operation
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5.88 50.51 22.06
Net profit of Q2’19 and 1H’19 decreased when compared to the same period of Y’18 due to the decreasing in revenue and increased from admisistrativeexpenses (compensation for loss of production to K.R.2 Co., ltd during the remedy turbine foundations).
52% 15% 85% 103% 48%
50 100 150
1H'17 1H'18 1H'19
Profit exclude share profit (loss) associates Share profit(loss) associates 75.06 57.54 128.31
Statement of Comprehensive Income Earning from operation
2.39% 4.30% 0.68% 0% 1% 2% 3% 4% 5% Q2'17 Q2'18 Q2'19
Net profit margin
Net Profit margin : %
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Net margin of Q2’19 and 1H’19 shown profit 0.68% and 3.63% due to the decreasing in revenue and increased from administrative expenses (Special entry).
3.48% 5.22% 3.68% 0% 1% 2% 3% 4% 5% 6% 1H'17 1H'18 1H'19
Net profit margin
Statement of Financial Position
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3,943 3,881 3,866 3,241 2,275 2,026
2017 2018 1H'19
Current assets Non-current assets7,184 5,907 6,141
ASSET
KEY RATIO Debt to Equity Interest Bearing Debt to Equity ROE ROA 2017 1.36 2017 0.68 2017 2.10 2017 0.89 2018 0.85 2018 0.46 2018 4.56 2018 2.46 1H’19 0.92 1H’19 0.47 2019 F 2.39 2019 F 1.24
LIABILITIES & EQUITY
3,045 3,191 3,193 489 445 372 3,650 2,271 2,576 2017 2018 1H'19
Current liabilites Non-Current liabilites Shareholders'equity
6,141 5,907 7,184 45% 55% 34% 66% 37% 63% 51% 42% 38% 54% 42% 52% 7% 8% 6%
Projects Backlog(Separate financial statements)
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REMARK : This report has been prepared follows the regulation of SEC
BACKLOG PROJECT Project Type Quarter 1-2 2019 Quarter 3-4 2019 Year 2019 Year 2020-2021 Project value Amount Project value Project value Project value (MTHB) (Project) (MTHB) (MTHB) (MTHB)
Electrical Engineering Work
1,366.30 69 1,011.46 2,377.76 981.51
M&E System
36.89 3 38.47 75.36 1,030.47
Steel structure work
20.76
1,423.95 72 1,049.93 2,473.88 2,011.98
Renewable Energy
39.57 2 81.77 121.34
39.57 2 81.77 121.34
1,463.52 74 1,131.70 2,595.22 2,011.98
2036 – Private PPA
2.1 Constructing new Transmission Lines, Substations, Switching Stations MTHB 60,000. 2.2 Renovation and Improvement existing Transmission Lines in Western and Southern region MTHB 63,200.
3. MEA's Investment Budget during the year 2016 - 2026 MTHB 48,717
stage 1.
5. PEA's Investment Budget during the year 2017 - 2020 MTHB 11,000
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Wind turbine foundation remedy budget
Estimated Estimated Estimate Estimate Estimated Estimate Estimated Aggregate Estimated total total and cost for and cost for total and cost for total actual cost Improvement improvement improvement accounting accounting improvement accounting improvement Ended at cost (For cost cost recorded recorded cost recorded cost remaining Works) year 2015 year 2016 in year 2017 in year 2018 (until 2018) in 1H'19 (until Q2'19) (until Q2'19) At Jun 30,2019 Improvement cost 410.51 197.92 36.92 36.34 681.69
603.39 78.3 Re-design cost,advisor cost, insurance,etc 93.72
111.08
96.79 14.29 Sub-total cost 504.23 197.92 36.92 53.70 792.77
700.18 92.59 Compensation for Loss of production cost* 398.74 297.83 59.75 32.59 788.91 71.04 859.95 859.95
902.97 495.75 96.67 86.29 1,581.68 71.04 1,652.72 1,560.13 92.59 Deduct owner's compensation (30.00)
(30.00)
872.97 495.75 96.67 86.29 1,551.68 71.04 1,622.72 1,530.13 92.59 Description
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