NAWARAT PATANAKARN PUBLIC COMPANY LIMITED SET : Opportunity Day, 12 Sep 2016 www.nawarat.co.th IR Section T: +662 730 2100 F: +662 751 9484 E: ir@nawarat.co.th A: 18th-19th Floor, Bangna Towers (A), 2/3 Moo 14, Bangna-Trad Rd, km. 6.5, Bangkaew, Bangplee, Samutprakarn 10540 Thailand 1
Disclaimer I m p o r t a n t N o t i c e: The content of the presentation provided by the Nawarat Patanakarn Public Company Limited (the “ Company ” ) is intended to provide as information for discussion purpose only and is strictly for private and confidential. Past performance is not indicative of future performance. Any unauthorised disclosure, use or dissemination, either whole or partial, is prohibited. It must not be reproduced, copied or made available to others. Some of the information in this presentation may contain projections or other forward looking statements regarding future events or future financial performance of countries, markets or companies. These statements are only predictions and actual events or results may differ materially. The reader must make his/her own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and make such independent investigations as he/she may consider necessary or appropriate for the purpose of such assessment. Any opinion or estimate contained in this presentation is made on a general basis and is not to be relied on by the reader as advice. Neither the Company nor any of its servants or agents have given any consideration to nor have they or any of them made any investigation of the investment objectives, financial situation or particular need of the reader, any specific person or group of persons. Accordingly, no warranty whatsoever is given and no liability whatsoever is accepted for any loss arising whether directly or indirectly as a result of the reader, any person or group of persons acting on any information, opinion or estimate contained in this presentation. 2
Company Overview 3
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ครบรอบ 40 ปี เนาวรัตน์ พัฒนาการ พัฒนาสู่อนาคต 5
Recent Completed Project 6
Civil and Architectural Work ABP4 CCCP & ABP5 CCCP Amata Nakorn Industrial 7 23
Water Tunnel for Flood Protection System Phase 1, Chiangmai 8
Car Showroom Office & Car Park, Nonthaburi 9
Flood Wall Around Lad Krabang Industrial Estate 10
BOWIN Combined Cycle Cogeneration Plant, Amata Nakorn Industrial Estate 11
Flood Protection System Phase 3 Omnoi, Samutsakhon 1 2
Reinforced Concrete Dam, Thawiwatthana Canal 1 3
Overseas Project Experiences 14
CLMV Experiences 15
Overseas Experiences & Current Projects Cambodia Year 2003 – Primary Road Reconstruction Project Year 2003 – Battambang Town Drainage Year 2004 – Rehabilitation of NR3 & NR61 Year 2010 – Prek Pnov Construction Bridge Year 2010 – Road Work Myanmar Year 2001 – The Grand Meeyahta Executive Residences Current – Dawei Hotel Laos Year 2007 – National Highway R3 Year 2012 – Theun-Hinboun Expansion Project Year 2014 – Nam-Sana Hydroelectric Power Project Current – Road Improvement Project Current – The Coal Handling System -Earth Work Vietnam Year 2008 – HCMC Environmental Sanitation Project Etc. - Dubai Year 2007 – Moevenpick Resort & Spa and Palm Laguna Residences 16
Performance Summary 17
Q2/2016 Financial Highlights Q2/2016 Financial Performance (Unit : THB mm) Construction contract +1,915.6 Rendering of sale and service +57.7 Other Income +14 . 0 Total revenues +1 , 987 . 3 Cost of construction -1,769.0 Cost of sale and service -49.4 SG&A -109 . 0 Doubtful debts - Total Expense -1 , 927 . 4 Profit (loss) from associates +6 . 7 Finance cost -48 . 3 Income Tax -0 . 6 Net earning +17 . 7 Non-controlling Interest -5.4 Net earning to Equity Holders +12.3 18
6M/2016 Financial Highlights 6M/2016 Financial Performance (Unit : THB mm) Construction contract +3,519.3 Rendering of sale and service +146.8 Other Income +24 . 8 Total revenues +3 , 690 . 9 Cost of construction -3,251.1 Cost of sale and service -135.5 SG&A -216 . 6 Doubtful debts - Total Expense -3 , 603 . 2 Profit (loss) from associates +39 . 5 Finance cost -96 . 9 Income Tax -1 . 4 Net earning +28 . 9 Non-controlling Interest -2.2 Net earning to Equity Holders +26.7 19
Details of Revenue 1 2 20 20
Key Performance Index Construction Revenue and Growth (Unit:THB mm) Gross Margin SG&A/Sales Net Margin 21
Key Performance Index New Projects Awarded (Unit:THB mm) Backlog Amounts (Unit:THB mm) 15,156 14,649 13,450 13,856 11,597 11,271 10,862 4,144 4,378 445 1,211 2,475 2,955 2,475 11,152 11,381 10,505 10,495 10,778 10,060 8,387 2011 2012 2013 2014 2015 Q1/16 Q2/16 Signed Contract Unsigned Contract (with high certainty) D/E ratio Current Ratio 22
Key Performance Index 23
Current Backlog (Signed Contract) [last update 30/06/2016] [Unit : Million Baht] Item Project Description Start End Total Value Remaining Project Type Drainage System 1 Jul-10 May-15 270 0% Infrastructure Drainage Tunnel 2 Sep-13 Aug-16 2,300 25% Tunnel Construction of Bypass 3 Sep-13 Jun-16 1,100 6% Infrastructure Building 4 Sep-13 Feb-15 100 74% Industrial Showroom, Office & Car Park 5 Feb-14 Feb-15 300 0% Building Flood Protection Wall 6 Jun-14 Mar-15 520 0% Infrastructure Housing Estate 7 Mar-14 Sep-15 500 55% Building Road Improvement 8 May-14 Nov-16 600 20% Infrastructure Hotel 9 Jul-14 Sep-16 550 16% Building Hotel 10 Jul-14 Sep-15 400 15% Building Power Plant 11 Sep-14 Jun-16 350 0% Industrial Industrial Estate 12 Oct-14 Mar-16 630 11% Infrastructure Pagoda 13 Nov-14 Nov-16 90 40% Building Power Plant 14 Nov-14 Dec-16 1,300 21% Industrial Power Plant 15 May-15 Jan-19 2,900 48% Industrial Flood Protection System 16 May-15 Sep-17 170 0% Infrastructure Manholes and Underground Electrical 17 Conduits May-15 Apr-17 1,000 90% Tunnel Road Extension 18 Mar-15 Mar-17 440 67% Infrastructure Road Extension 19 Mar-15 Mar-17 400 79% Infrastructure Road Extension 20 Mar-15 Mar-17 35 68% Infrastructure 24
Current Backlog (Signed Contract) [last update 30/06/2016] [Unit : Million Baht] Item Project Description Start End Total Value Remaining Project Type Road Extension 21 Mar-15 Mar-17 50 65% Infrastructure Showroom & Office 22 Jun-15 Jan-16 110 16% Building Reinforced Concrete Dam 23 Oct-15 Oct-16 100 22% Infrastructure Overpass Crossing Intersection Highway 24 Apr-15 Jun-17 370 81% Infrastructure River Bank Protection Dam 25 Apr-15 Oct-17 560 74% Infrastructure Flood Protection System 26 Sep-15 Mar-18 340 46% Infrastructure Reinforced Concrete Dam 27 Oct-15 Jul-16 35 0% Infrastructure Sea Port 28 Dec-15 Nov-16 1,030 75% Marine Underground Power Transmission Lines 29 Dec-15 Jan-17 375 100% Tunnel Manholes and Underground Electrical 30 Dec-15 140 100% Tunnel Conduits Connecting route to Expressway 31 Feb-16 Jan-18 440 100% Infrastructure Railway overpass 32 Jan-16 Mar-18 180 99% Infrastructure Power Plant 33 Apr-16 Nov-18 340 68% Industrial Roadway Extension 34 May-16 Nov-18 730 100% Infrastructure Roadway Overpass 35 Mar-16 Jun-18 270 100% Infrastructure Railway Overpass 36 Apr-16 Apr-18 170 100% Infrastructure Temporary Sales Office 37 Mar-16 Jun-16 6 100% Building Flood Protection System 38 Apr-16 Jan-18 280 100% Infrastructure SUB TOTAL===> 19,481 9,098 Joint Venture Overburden Removing 39 Mar-09 Feb-18 8,400 20% Earth Work SUB TOTAL===> 8,400 1,680 25
Current Backlog (Unsigned Contract) [last update 30/06/2016] [Unit : Million Baht] Item Project Description Start End Total Value Remaining Project Type Improve Drainage System 1 180 Day 55 100% Infrastructure Manholes and Underground Electrical 2 840 Day 240 100% Tunnel Conduits Improve Drainage System 3 240 Day 15 100% Infrastructure Office Building 4 1,080 Day 740 100% Building Airport 5 1,313 100% Infrastructure Power Plant 6 2,000 100% Industrial Soil reclamation work 7 Jul-16 15 100% Infrastructure SUB TOTAL===> 4,378 4,378 GRAND TOTAL===> 32,259 15,156 Note - Joint Venture [JV] Project are Presented Only NWR's Portion - Total Value is Roundup 26
Backlog Type & Expected Gross Margin Future projects are to be focused on high-margin works in which the company has competitive edge Expected Gross Margin By Project Type Total Backlog Composition by Project Types Company's expertise & Higher Core focus of '16 & '17 Marine Tunnel Industrial Infrastructure Building Lower Earth Work 27
Current Backlog Budget by Project Size Portfolio Total Backlog Composition by Owner 2 8
Cost Structure 2 9
New Project Engagement ‘ 1 6 New Project Engagement by Type 30
New Projects Awarded in 2016 Project Contract Value Type (THB mm) 1. Power Plant 2 * 110 MW 587 Industrial 2. Motor Way 785 Infrastructure 3. Flood Protection 280 Infrastructure 4. Highway 299 Infrastructure 5. Power Plant 2,000 Industrial 6. Airport 1,313 Infrastructure 7. Office Building 740 Building TOTAL 6,004 31
Industry Overview 32
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