Opportunity Day March 13, 2020 Disclaimer The information - - PowerPoint PPT Presentation
Opportunity Day March 13, 2020 Disclaimer The information - - PowerPoint PPT Presentation
Opportunity Day March 13, 2020 Disclaimer The information (Confidential Information) contained in this presentation is strictly confidential and is provided by JKN Global Media Public Company Limited (the Company) to you solely for
The information (“Confidential Information”) contained in this presentation is strictly confidential and is provided by JKN Global Media Public Company Limited (the “Company”) to you solely for your reference. This presentation is confidentialand its content may not be copied, reproduced, redistributed, quoted, referred to or otherwise disclosed, in whole or in part, directly or indirectly, to any third party without the prior written consent of the Company. Although care has been taken to ensure that the Confidential Information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the Confidential Information is subject to change without notice, its accuracy is not guaranteed, has not been independently verified and it may not contain all material information concerning the
- Company. None of the Company respective directors makes any representation or warranty (express or implied) regarding, and assumes any responsibility or liability for, the
accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein. None of the Company or any of their respective members, directors,
- fficers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or
its contents or otherwise arising in connection therewith. This presentation is for information purposes only and does not constitute an offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for any securities in Thailand or any jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. This presentation contains projections and forward-looking statements that reflect the Company's current views with respect to future events and financial performance. These views are based on a number of estimates and current assumptions which are subject to business, economic and competitive uncertainties and contingencies as well as various risks and these may change over time and in many cases are outside the control of the Company and its directors. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” “projects,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results may differ from those forecast and projected or in the forward-looking statements as a result of various factors and assumptions.
Disclaimer
Company overview Financial Highlights Business outlook Q & A
COMPANY OVERVIEW
Company Established with paid-up capital 1 Mil Baht JKN Dramax channel starts operations. Digital TV launched for Thai public. License signed with CNBC (Asia) under American Broadcaster NBC (Universal) Listed in The Market for Alternative Investment (mai) Becomes worldwide distributor of BEC World content JKN CNBC launches operations.
Plan to list in the SET (Stock Exchange
- f Thailand)
A news TV station broadcast through Digital TV, cable/satellite,
- nline, OTT branded
under “JKN-CNBC” and “JKN-News” A television network broadcast through cable/satellite and IPTV systems, branded as “JKN Dramax” We are in the research and develop phase of launching a comprehensive financial and investment training institution. We operate as an integrated marketing communications distributor.
Corporate Vision
To be Number 1 global content management and distribution company in Thailand and CLMV countries.
FINANCIAL HIGHLIGHTS
Financial Highlight
304 457 846 1,156 1,423 1,711 Total Revenue 2014 2015 2016 2017 2018 2019
Media Product Other Revenue - YTD (THBm)
Revenue
- Total revenue of the company and its
subsidiaries increased from the increasing of revenue from program rights.
- The company continues its acquisition of
new content rights in order to support the growth of the business.
Revenue by segment
Growth 20%
92% 4% 3% 1%
FY 2018
96% 2% 1% 1%
FY 2019
Program right
Adaptability
1950 - 2010 2011 - 2017 2018 - 2019
Analog TV Cabsat TV Analog TV Cabsat TV DTT Online Streaming Cabsat TV DTT Online Streaming DVD Blu-ray USB DVD Blu-ray USB Cassette Tap CD
58 269 163 163 128 350 383 290 8 33 180 609 234 179
- 26
- 6
297 266 106 433 241
- 2
121 24
- 21
5 133 11 18
- 100
200 300 400 500 600 700
2016 2017 2018 2019
Cabsat DTT VOD Home Ancillary Cabsat, Home Cabsat, VOD DTT, Cabsat DTT, Cabsat, VOD DTT, VOD VOD, Home
Revenue by platforms (THBm)
Content platform
Revenue by platforms
- 58
393 264 8
- 269
458 312 33
- 385
169 574 11 180
- 178
371 375 18 698 2
- 100
200 300 400 500 600 700 800 DTT, CABSAT (TV Right) CABSAT DTT HOME VOD CINEMA 2016 2017 2018 2019 Unit: Million Baht 2018 % 2019 % Change %
DTT, CABSAT (TV Right) 384 29% 178 11% (206) (54%) CABSAT 169 13% 371 23% 202 120% DTT 574 44% 375 23% (199) (35%) HOME 11 1% 18 1% 7 64% VOD 180 14% 698 43% 518 288% CINEMA
- 2
0% 2 100% Total 1,318 1,642 324 25%
Content by Geographic
933 MB 385MB
2018
Thailand Export 61% 82% 25% 9% 14% 9% 0% 20% 40% 60% 80% 100%
Indian Philippines Other
Revenue - Location Revenue - Categories Backlog as at 31 Dec 2019
1,124 MB 518 MB
2019
Thailand Export
2018 2019
Backlog การขายคอน เทนต์ 278 ล้านบาท
Financial Highlight
Expenses
- The increase in costs resulted from increased amount of rights held
by the Company
- Administrative expense increased from the last year was resulting
from the increase in employee cost to support the growth of the business and new business such as news station under the name of JKN CNBC, and the increase in loss on exchange rate of THB 34.88 million due to the fact that the Thai Baht value appreciated against US Dollar. Moreover, there is rise of allowance for doubtful accounts, the Company setup THB 21.13 million for doubtful debts during this year.
232 255 558 830 1068 1298 2014 2015 2016 2017 2018 2019 55% 14% 59% 13% 57% 17% Cost of program right SG&A 2017 2018 2019
Total expense (THBm)
Expenses per total revenue Expense by segment Program right Media Product SG&A
78% 3% 1% 18%
FY 2018
74% 2% 0% 23%
FY 2019
Selling & Administrative expenses
21 26 5 11 30 7 Events Marketing AD & PR Other 2018 2019 87 12 1 39 132 14 35 22 49 Employee cost Profession fee Loss on exchange rate Doubtful debts Other 2018 2019
Selling Expense 2018 2019 Change %change Events marketing
20.79 10.57 (10.22) (49.16%)
Advertising & PR
25.70 29.91 4.21 16.38%
Other
5.22 7.08 1.86 35.63%
Total selling expenses
51.71 47.56 (4.15) (8.03%)
Admin expense 2018 2019 Change %Change Employee cost
86.79 131.82 45.03 51.88%
Professional fee
11.53 14.05 2.52 21.86%
Loss on exchange rate
- 34.88
34.88 100.00%
Provision for doubtful accounts
0.52 21.65 21.13 4,063.46%
Other
38.97 48.78 9.81 25.17%
Total administrative expenses
137.81 251.18 113.37 82.27%
Selling expense (THBm) Admin expense (THBm)
Financial Highlight
Gross profit & Gross profit margin
- The increase in net profits and net gross profit from last year
was due to the rise in revenue from program rights, and most
- f the cost of program rights is the amortization expenses
which is increase rate lower than the growth of income. ROA & ROE
- The increase of ROE was due to the increase in total revenue
and net profit margin. Although the operating result was growth, the assets was Sharply increased due to the increase
- f AR. Thus, there is no significant change of ROA
- increase of ROA was due to significant growth in operating
lt
107 259 395 488 525 696 35.2% 56.7% 46.9% 42.3% 37.4% 41.1% 0.0% 10.0% 20.0% 30.0% 40.0% 50.0% 60.0% 200 400 600 800 2014 2015 2016 2017 2018 2019 Gross profit Gross profit Margin 49 133 164 188 228 253 16.3% 29.2% 19.4% 16.2% 16.0% 14.8% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% 35.0% 50 100 150 200 250 300 2014 2015 2016 2017 2018 2019 Net Profit Net profit Margin 12.6% 15.0% 12.0% 7.8% 7.1% 7.0% 50.9% 46.4% 35.2% 15.8% 11.7% 11.8% 2014 2015 2016 2017 2018 2019 ROA ROE
Gross profit (THBm) ROA & ROE Net profit (THBm)
Financial Highlight
730 1,044 1,696 3,139 3,251 4,006 539 660 1,147 1,312 1,197 1,791 191 384 549 1,826 2,054 2,215 2.8 1.7 2.1 0.7 0.58 0.81 0.5 1 1.5 2 2.5 3 2,000 4,000 6,000 8,000 10,000 2014 2015 2016 2017 2018 2019 Asset Liabilities Shareholder's equity Debt to equity ratio (time) 0.91 0.78 0.56 1.34 4.58 1.47 2014 2015 2016 2017 2018 2019 0.95 1.1 0.99 0.97 1.11 1.25 2014 2015 2016 2017 2018 2019
Current ratio (time) Intangible asset turnover (time) Balance sheet composition (THBm) & D/E ratio (time)
Intangible assets – Program rights
Target 2020 Program rights 800 Total CAPEX 800
296 62 234 340 120 447 965 389 1,023 777 616 1,184 776 779 1,181 1,189 930 1,447
Acquisitions Amortize program rights NBV 2014 2015 2016 2017 2018 2019
CAPEX (THBm)
Accounts receivable ลูกหนี้การค้า - กิจการที่ไม่เกี่ยวข้องกัน
31.12.62 % 31.12.61 % Change % Change
ยังไม่ถึงกําหนดชําระ
759,529 43% 579,567 52% 179,962 31%
ค้างชําระ น้อยกว่า 3 เดือน
219,679 12% 136,898 12% 82,781 60%
3 - 6 เดือน
312,846 18% 90,792 8% 222,054 245%
6 - 12 เดือน
508,801 29% 302,840 27% 205,961 68%
มากกว่า 12 เดือน
1,952 0% 8,151 1% (6,199) (76%)
รวม
1,802,807 101% 1,118,248 100% 684,559 61%
หัก ค่าเผื่อหนี้สูญ
(23,675) (1%) (2,028) (0%) (21,647) 1,067%
รวมลูกหนี้การค้าสุทธิ
1,779,132 100% 1,116,220 100% 662,912 59% Day in AR turnover 316 Days 241 Days
Listing in the Stock Exchange of Thailand (SET)
1 2 3 4 5
3rd-4th Quarter 2020
Trading in the SET commences
Feb 2020
BOD approved the stock dividend payment.
Apr 2020
AGM approves stock dividend payment.
May 2020
BOD meeting approves motion to register stock in SET.
2nd–3rd Quarter 2020
Registration process with SEC
Timeline
เพิ่มสภาพคล่องในการซื้อขายหุ้น ช่วยให้การเคลื่อนไหวของราคามีเสถียรภาพ ปลดล็อกนักลงทุนสถาบัน กองทุนทั้งในและต่างประเทศ
CONVERTIBLE BOND
A worldwide distributor of BEC, International sales
หัวข้อ รายละเอียด
จํานวนเงินต้น 1,200 ล้านบาท อัตราดอกเบี้ย 3% ต่อปี อายุ 5 ปี นับจากวันออกหุ้นกู้ ราคาแปลงสภาพ 8 บาทต่อหุ้น ระยะเวลาใช้สิทธิแปลงสภาพ หลังครบกําหนด 1 ปีนับจากวันออกหุ้นกู้ หุ้นสามัญเพื่อรองรับการแปลงสภาพ 150 ล้านหุ้น คิดเป็น 21.74% วิธีการจัดสรร จัดสรรให้กับ North Haven Thai Private Equity ซึ่งเป็นนักลงทุนสถาบัน ภายใต้การบริหารของ Morgan Stanley
Convertible Bond
จ่ายชําระคืนเงินกู้ยืม 600 ล้านบาท
ใช้ในการขยายธุรกิจในอนาคต 300 ล้านบาท ใช้เป็นเงินทุนหมุนเวียน 300 ล้านบาท
Financial cost ของ เงินกู้ระยะยาว เท่ากับ 7.8-8%
Convertible Bond
ลดภาระต้นทุนทางการเงิน
เพิ่มสภาพคล่องในการดําเนินธุรกิจ
Morgan Stanley เป็นนักลงทุนสถาบัน ที่เข้ามาลงทุนระยะยาว
พันธมิตรที่จะสามารถเข้ามาช่วยเหลือ ในเรื่องการขยายธุรกิจไปยังต่างประเทศ
Convertible Bond
BUSINESS OUTLOOK
International Sales - Master Pieces of Indian Series
JKN acquired the top ranks Indian series with high budget productions for selling international markets, such as Porus, Prithi Vallabh, and Vigharnarta Ganesh. Last year, we were selling our series for the amount more than Baht 600 million to The international markets include Cambodia, Lao PDR, Myanmar, Vietnam. Indian Series
International sales - Great series from Channel 3HD We are the sole worldwide sole distributor of BEC World* which we got the exclusive rights of more than 90 series of Channel 3HD, including romantic comedy, melodrama, and horror for international sales. We were selling the Channel 3HD series to Philippines and Malaysia.
Thai series *Excluding China, Macau, HongKong, Cambodia, Myanmar, Vietnam
International sales - JKN & BEC contract Renewal
Filmart Hong KONG - Mar 2019
Filmart Hong KONG - Mar 2019
Content Asia - Aug 2019
MIPCOM France - Oct 2019
ATF Singapore - Dec 2019 (Upcoming)
ATF Singapore - Dec 2018 (Last year)
Material
56
57
58
59
- We work with leading broadcasters and digital
platforms around the world
- We have output deals with major clients such
as GMA (Philippines) and Dimsum (Malaysia, Brunei & Singapore).
- We craft a volume of stand alone linear &
digital deals throughout the year and around the globe.
60
Our Business partner
- We recently closed about 500 hours of
content to GMA
- Currently in discussion with ABS-CBN for
- ther titles.
- We also target to push Thai Content
channel to Cignal which is no.1 Pay TV platform in the Philippines.
61
OUR Market Penetration Strategy: Philippines
62
Philippines - Price proposed
63
- We have licensed over 425 hours of Thai
content to Dim Sum in Malaysia an OTT player covering Malaysia, Brunei and Singapore. Dim Sum will soon be launching in Indonesia later part of the year.
- Astro is the largest DTH platform in Malaysia
and we are in discussion for some horror content.
- While with Media Prima, they would like Thai
content with Chinese Subtitles.
OUR Market Penetration Strategy: Malaysia, Brunei and Singapore
64
- We have to prioritize Indonesia due to its
261M population.
- Thai content has never been exposed in the
Indonesian market but we are confident that Indonesians will be able to accept Thai
- dramas. Therefore, we will be working with
Rajawali TV in Indonesia in incubating Thai drama in their network.
OUR Market Penetration Strategy: Indonesia
65
Korea
- We closed deal 265 hours of Thai drama to
TVA (Korea) Japan
- We are in discussion with Hulu Japan.
OUR Market Penetration Strategy: South Korea and Japan
The company licensed from CNBC to translate items with content about business and economic broadcasts around the world in
- rder to sell to the broadcast tv channels as Thailand language.
Domestic Thailand In addition, the company has received permission to produce items in the format of CNBC by MC Thailand. At present, the company has started to sell items made the translation with Channel 3 and Bright TV. In the future, the company will bring the winnings from the IPO to develop Studio filming for CNBC.
ตัวอย่างรายการในเครือ CNBC
JKN CNBC Project
67
CNBC Studio