INFO MEETING Q1 / 2013 Performance Highlights Q1/2013 3 - - PowerPoint PPT Presentation

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INFO MEETING Q1 / 2013 Performance Highlights Q1/2013 3 - - PowerPoint PPT Presentation

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INFO MEETING Q1 / 2013 Performance Highlights Q1/2013 3 Performance Highlights Q1/2013 Two new projects launched in Q1/2013 worth 2,060 MB : 1 SDH and 1 Condo SDH : Life Bangkok Boulevard Rangsit with Project Value of

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SLIDE 1

INFO MEETING Q1 / 2013

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SLIDE 2

Performance Highlights Q1/2013

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SLIDE 3

3

Performance Highlights Q1/2013

  • Two new projects launched in Q1/2013 worth 2,060 MB : 1 SDH and 1 Condo
  • SDH : “Life Bangkok Boulevard – Rangsit” with Project Value of 1,600 MB (393 Unit)
  • Condo : “Chambers – Ramintra” with Project Value of 460 MB (152 Unit)
  • Presales in Q1/2013 was 2,255 MB
  • Low-rise presales was 1,582 MB or 70% of total presales, 29% growth YoY
  • High-rise presales was 672 MB or 30% of total presales, 48% dropped YoY
  • Operating Revenue grew 25% YoY
  • Operating Revenue of Q1/2013 reached 1,756 MB, 25% growth YoY
  • Improving Gross Margin compared to Q4/2012
  • Continuous increasing of Backlog to 8,387 MB as of 31 Mar 13 (High-rise 96% : Low-rise 4%)
  • Improving occupancy rate of ST3 from 68% as of year end 2012 to 86% as of March 2013
  • 1 New land acquired in Q1/2013 worth approx. 300 MB.
  • Impact from Adjustment of TAS 12 - Income Taxes to 2012 & Q12013 Financial Statements
  • incurred deferred tax asset / liabilities , adjusted retain earnings unappropriated in Balance Sheet
  • adjusted in Deferred Tax Revenues (Expenses) resulting from reduction in tax rate
  • restated 2012 financial statement
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SLIDE 4

Q1 2013 Q1 2012 Change Q4 2012 Change (Restate) (Restate) (MB) (MB) (%YoY) (MB) (%QoQ)

Presale

2,255 2,507

  • 10%

3,629

  • 38%

Revenue from Sales

1,555 1,207 29% 3,708

  • 58%

Operating Revenue

1,756 1,405 25% 3,911

  • 55%

Total Revenue

1,759 1,409 25% 3,937

  • 55%

Net Profit before tax

199 226

  • 12%

760

  • 74%

Income tax revenues (expenses)

(38) (48)

  • 22%

(163)

  • 77%

Net Profit-pure performance

161 177

  • 9%

597

  • 73%

Deferred Tax adjusted

64 143

  • 55%

(9)

  • 797%

Net Profit-as per financial statement

225 320

  • 29%

587

  • 62%

New Project launch

2 Projects ( LBB-RS / CB-RT )

Project Closed

none

Q1 2013

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Performance Q1/2013 : Total Revenue 1,759 MB , 25% growth YoY

* *

*Remark : Impact from Adjustment of TAS 12 Income Taxes

  • incurred deferred tax asset / liabilities , adjusted retain earnings unappropriated in Balance Sheet and
  • adjusted in Deferred Tax Revenues (Expenses) resulting from reduction in tax rate
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SLIDE 5

Operating Revenue Q1/2013 : 1,756 MB, 25% growth YoY

1,207 1,138 1,502 3,708 1,555 198 201 202 203 202

1,405 1,339 1,704 3,911 1,756

1Q12 2Q12 3Q12 4Q12 1Q13 Revenue from Sales Revenue from Rental & Services Operating Revenue

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Q1 / 2013 Q1 / 2012

Change (YoY)

Q4 / 2012

Change (QoQ) Revenue from Sales 1,555 89% 1,207 86% 29% 3,708 95%

  • 58%

Revenue from Rental & Services 202 11% 198 14% 2% 203 5%

  • 1%

Operating Revenue 1,756 100% 1,405 100% 25% 3,911 100%

  • 55%
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SLIDE 6

GP-Property for Sales GP-Property for Rent Gross Margin

1Q12 2Q12 3Q12 4Q12 1Q13

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Profitability Q1/2013 : Improving Gross Margin QoQ

 Gross Profit Margin = 38.2%, improved from 34.6% of Q4/2012 and closed to GP of Q1/2012

  • GP-Property for Sales = 34.8%, improved from 33.0% of Q4/2012 and higher than 33.6% of Q1/2012
  • GP-Property for Rent = 64.3%, improved from 63.8% of Q4/2012 but lower than 66.9% of Q1/2012
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(A) (B)

31-Dec-12 31-Dec-12 31-Mar-13 (MB) (MB) (MB) (MB) % YoY (Before restate) (Restate) Total Assets 22,751 22,783 24,449 1,666 7% Total Liabilities 12,681 13,239 14,673 1,434 11% Equity 10,071 9,544 9,776 232 2% ROA (%) 5.38% 5.92% 5.20% Net Profit / Avg. Total Asset ROE (%) 11.39% 12.89% 11.95% D/E (X) 1.26 1.39 1.50 EPS 1.68 1.68 0.34 Book Value 15.30 14.50 14.82 Issued & Paid-up Shares* 658,336,600 658,336,600 659,625,000 * Split Par 10 Baht/Share to 5 Baht/Share since 25 Apr 11 Change (B-A)

9,544 13,239 22,783 24,449 14,673 9,776

Total Asset Total Debt Total Equity

31-Dec-12 31-Mar-13

(Unit : MB)

11% 7%

Financial Position as of 31 March 2013

7

2%

1.11 1.22 1.39 1.5 1.50 2.00

0.00 0.50 1.00 1.50 2.00 2.50 31-Dec-12 (Restate) 31-Mar-13

Interest Bearing Debt/Equity Ratio Debt to Equity Ratio D/E Financial Covernant

*

* Remark : Due to deferred tax adoption, causing

  • an increasing of Deferred tax asset of 31MB
  • an increasing of Deferred tax liability of 558MB
  • a decreasing of Retained earnings-unappropriated
  • f 527 MB
  • As a result, D/E increased from 1.26 to 1.39X as of

31 Dec 12.

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Pre-sales Q1/2013 : 2,255 MB, dropped 10% YoY

2,507 1,942 4,172 3,629 2,255

1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 SDH TH Condo Presales

No New Project Launched 4 New Projects Launched 5 New Projects Launched

Pre-Sales of Low-rise +29% YoY, High-rise -48% YoY in Q1 2013 Pre-Sales in Q1/13 :

  • Sales of Low-rise was still in good momentum
  • Sales of High-rise dropped as lower inventory for sales and
  • nly 1 new condo was launched in 1Q13
  • 2 new Projects launched in Q1/13

PreSales (MB)

1Q13 1Q12

change

4Q12 Change YoY QoQ

SDH

1,471 1,283 35% 1,795

  • 18%

TH

111 135

  • 18%

184

  • 40%

CONDO

672 1,089

  • 48%

1,650

  • 59%

Total 2,255 2,507

  • 10%

3,629

  • 38%

5 New Projects Launched

Pre-Sale

1Q12 2Q12 3Q12 4Q12 1Q13

2,507 1,942 4,172 3,629 2,255 Low-rise 49% 54% 39% 55% 70% High-rise 51% 46% 61% 45% 30%

2 New Projects Launched

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SLIDE 9

1,207 1,138 1,502 3,708 1,555

1Q 12 2Q 12 3Q 12 4Q 12 1Q 13 SDH TH Condo Revenue 9

No New Project Launched 5 New Projects Launched 5 New Projects Launched

Revenue from Sales of Low-rise & High-rise growth YoY

Revenue from Sale Q1/2013 : 1,555 MB, 29% growth YoY

4 New Projects Launched 2 New Projects Launched

Revenue 1Q12 2Q12 3Q12 4Q12 1Q13 1,207 1,138 1,502 3,708 1,555 Low-rise 92% 99% 100% 63% 87% High-rise 8% 1% 0% 37% 13%

Revenue (MB) 1Q13 1Q12 change 4Q12 Change YoY QoQ SDH 1,261 1,044 21% 2,096

  • 40%

TH 94 69 36% 232

  • 60%

CONDO 200 94 112% 1,380

  • 86%

Total 1,555 1,207 29% 3,708

  • 58%

Revenue from Sale in Q1/13 :

  • Low-rise +22% YoY , High-rise +112% YoY
  • Low-rise was the major driver of revenue in Q1/2013 with 87%

contribution

  • High-rise was driven by continuing transferred of CT-RS, CR-P11,

CR-S49 (Remaining Backlog of 3 Condos will recognize in Q2/13)

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  • Q1/2013 : Revenue from Rental & Services 202 MB, 2% growth YoY (Q1/12 = 198 MB)
  • Q1/2013 : 79% of Revenue from Rental & Services comes from SC

Revenue from Rental & Services Q1/2013

Office Buildings, Land & Technical Buildings for Rent SC : Shinawatra Tower 1,2 3, Computer Center Chaengwattana, Lotus Petkasem 81, The Junction OA : Office Building Phaholyotin Soi 9 UL : Land & Technical Building (Mobile Switching Center, Maintenance Center, Branch Offices) total 111 sites

45 45 44 41 36 159 155 152 149 146 6 6 6 6 6 1Q12 2Q12 3Q12 4Q12 1Q13

VL UL OA SC

45 36 159 146 6 6

1Q12 1Q13

198 201

198 202 2%

(Unit: MB) 202 203

Revenue from Rental SC OA UL VL 1Q12 198 MB 73.9% 3.0% 22.6% 0.5% 4Q12 203 MB 76.3% 3.1% 20.1% 0.5% 1Q13 202 MB 78.9% 3.1% 17.6% 0.4% 9% 20%

202

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SLIDE 11
  • Expect Higher Presales & Revenues both QoQ & YoY
  • Maintain Margin level in line with the industry
  • Continue New Project Launch 2013 as plan : 3 Condominiums with total values 7,800MB
  • Increased Registered Capital to 4,000MB on 25 April 2013 .The share allotment will be

reserved for stock dividend payment, ESOP Program Grant IV and V, share allotment under an approval of a meeting of shareholders in the future

  • Change in Par Value from 5Baht to 1Baht, effective date on 30 April 2013
  • Dividend Paid 0.1574 Baht/Share on 17 May 2013
  • Cash Dividend : 0.0324 Baht/Share
  • Stock Dividend : the ratio of 8 existing shares to 1 new share or 0.125 Baht/Share

: equivalent to 412,302,616 shares which can be traded on 22 May 2013

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SC OUTLOOK in Q2/2013

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26 On-going Projects for Sales in Q2/2013, worth ~16,900 MB

82% 3% 15% Product Mixed Condo TH SDH

  • No. of projects

Units Remaining Value (MB) Low-rise 18 1,575 14,345 SDH 15 1,474 13,871 TH 3 101 504 Condo 8 412 2,555 Total 26 1,987 16,900

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DISCLAIMER

“Some Statements made in this presentation are forward-looking statements, 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”

Further more information, please contact IR Tel : 662-949-2647, 662-949-2344 E-mail : ir@scasset.com www.scasset.com

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