Opportunity Day August 23, 2019 Agenda Business Update Financial - - PowerPoint PPT Presentation

SISB PUBLIC COMPANY LIMITED Opportunity Day August 23, 2019

Agenda

Business Update Financial Summary

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Q&A

Business Update

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Corporate Structure

License*

4 * Licenses are under Thailand - Private School Act B.E. 2550 1) Singapore International School of Bangkok Outstanding shares: 940 M. Shares

License* 2) Singapore International School Suvarnabhumi

3) Singapore International School Thonburi 4) Singapore International School Ekkamai

SISB SIRI Co., Ltd. (Paid-up Capital Baht 130M) (Joint Venture)

5) Singapore International School Chiangmai

50% License* License* License*

Founder (Group of parents) Public (IPO)

27.7% 72.3%

Trademark

Education Pathway

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Sixth Form School [Age 16-18 / G11-12] Cambridge International AS/A Level Examination International Baccalaureate Diploma Programme (IBDP) Pre School [Age 2-6 / N-K] Primary School [Age 6-12 / P1-P6] Secondary School [Age12-16 / G7-G10] Singapore International Primary School Examination (iPSLE) Cambridge International General Certificate of Secondary Education (IGCSE) Child-Center Assessment OR

School Building – Renovation

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Financial Summary

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Financial Performance

Unit : THB Million 2Q18 1Q19 2Q19 YoY% QoQ% 6M18 6M19 YoY% FY18 Total revenues 226.92 268.64 272.39 +20.0% +1.4% 452.98 541.03 +19.4% 947.35 GP 83.12 109.82 107.43 +29.2%

• 2.2%

166.04 217.25 +30.8% 365.28 EBITDA 60.91 73.53 85.66 +40.6% +16.5% 118.95 159.19 +33.8% 257.06 Net Profit 20.80 42.46 52.04 +150.2% +22.6% 43.69 94.50 +116.3% 103.52 %GP 37.3% 42.1% 40.8% +3.5%

• 1.3%

37.2% 41.4% +4.2% 39.2% %EBITDA Margin 26.8% 27.4% 31.4% +4.6% +4.1% 26.3% 29.4% +3.2% 27.1% %Net Profit 9.2% 15.8% 19.1% +9.9% +3.3% 9.6% 17.5% +7.8% 10.9%

Tuition fees and Service income

570.5 695.3 875.4 419.8 493.5 209.5 246.0 247.4 27.2 35.6 48.6 22.4 26.8 11.4 12.7 14.1 597.6 730.8 924.0 442.2 520.3 220.9 258.7 261.6 200 400 600 800 1000 Y2016 Y2017 Y2018 6M-2018 6M-2019 Q2-2018 Q1-2019 Q2-2019 Tuition fees income Application and enrolment fee incomes 1,705 1,977 2,222 2,164 2,222 2,375 500 1,000 1,500 2,000 2,500 Dec-16 Dec-17 Dec-18 Jun-18 Dec-18 Jun-19

Financial Performance

597.6 730.8 924.0 442.2 520.3 220.9 258.7 261.6 11.0 15.5 23.4 10.8 20.7 6.0 9.9 10.8 608.6 746.3 947.4 453.0 541.0 226.9 268.6 272.4 200 400 600 800 1000 Y2016 Y2017 Y2018 6M-2018 6M-2019 Q2-2018 Q1-2019 Q2-2019 Tuition fees and services income Education equipment and other income

Total revenues

Number of Students (SISB as a school license holder)

95.5% 95.1% 94.7% 94.9% 94.8% 94.8% 95.1% 94.6% 4.5% 4.9% 5.3% 5.1% 5.2% 5.2% 4.9% 5.4% 0% 20% 40% 60% 80% 100% Y2016 Y2017 Y2018 6M-2018 6M-2019 Q2-2018 Q1-2019 Q2-2019 Tuition fees income Application and enrolment fee incomes Million Baht Million Baht Number of Students ▲YoY = 20.04%, ▲QoQ = 1.40% ▲YoY = 9.75%, ▲QoQ = 6.89%

Financial Performance

Administrative expenses

158.4 196.6 238.7 108.5 136.7 53.9 74.3 62.4 26.0% 26.3% 25.2% 23.9% 25.3% 23.8% 27.7% 22.9% 50 100 150 200 250 300 Y2016 Y2017 Y2018 6M 2018 6M 2019 Q2 2018 Q1 2019 Q2 2019 Administrative expenses Administrative expenses to total revenue

Net profit and Net profit margin

69.8 17.9 103.5 43.7 94.5 20.8 42.5 52.0 11.5% 2.4% 10.9% 9.6% 17.5% 9.2% 15.8% 19.1%

• 10%
• 5%

20 40 60 80 100 120 Y2016 Y2017 Y2018 6M-2018 6M-2019 Q2-2018 Q1-2019 Q2-2019 Net profit Net profit margin (%)

Tuition and service cost and Gross Profit Margin

278.1 324.9 374.0 186.1 207.0 91.9 102.5 104.5 88.6 166.4 193.2 94.0 100.1 47.9 48.7 51.4 366.7 491.4 567.2 280.1 307.1 139.8 151.2 155.9 39.2% 33.4% 39.2% 37.2% 41.4% 37.3% 42.1% 40.8% 250 500 750 Y2016 Y2017 Y2018 6M-2018 6M-2019 Q2-2018 Q1-2019 Q2 2019 Cost of Education Cost of Building Management Gross Margin (%)

EBITDA vs EBITDA Margin

122.1 149.3 257.1 119.0 159.2 60.9 73.5 85.7 20.1% 20.0% 27.1% 26.3% 29.4% 26.8% 27.4% 31.4%

• 20.0%
• 10.0%

50 100 150 200 250 300 Y2016 Y2017 Y2018 6M 2018 6M 2019 Q2 2018 Q1 2019 Q2 2019 EBITDA EBITDA Margin (%) Million Baht Million Baht Million Baht Million Baht

1,252.2 1,429.7 1,385.9 1,349.6 67.9 75.6 367.3 432.0 149.0 219.8 672.1 1,072.5

1,469.1 1,725.1 2,425.3 2,854.0 500 1,000 1,500 2,000 2,500 3,000 Y2016 Y2017 Y2018 Q2-2019 Property, plant and equipment Cash and cash equivalents Other assets

Financial Position

188.6 187.1 1,598.0 1,692.5 400 800 1,200 1,600 2,000 Y2016 Y2017 Y2018 Q2-2019 Million Baht

432.0 545.7 613.2 899.3 550.0 779.0 298.6 213.3 214.1 262.2

1,280.6 1,538.0 827.3 1,161.5 400 800 1,200 1,600 2,000 Y2016 Y2017 Y2018 Q2-2019 Deferred income Total loans Other liabilities

Total Assets Total Shareholders' Equity Total Liabilities

Million Baht Million Baht Times 6.8 8.2 0.5 0.7 2.9 4.2 0.0 0.0 0.0 2.0 4.0 6.0 8.0 10.0 Y2016 Y2017 Y2018 Q2-2019 Debt to equity ratio Interest bearing debt to equity ratio

Debt to Equity Ratio

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School Utilisation Capacity Seats

1,510 1,510 2,170 2,170 2,170 640 640 640 640 640 310 310 310 900 900 155 155 2,150 2,150 3,120 4,175 4,175

• 1,000

2,000 3,000 4,000 5,000 Y2015 Y2016 Y2017 Y2018 Q2-2019 SISB-PU SISB-SV SISB-CM SISB-TR SISB-EK Seat 1,293 1,419 1,715 1,382 1,443 239 286 262 275 288 84 147 164 478 558

• 87

86 1,532 1,705 2,061 2,369 2,539

• 500

1,000 1,500 2,000 2,500 3,000 Y2015 Y2016 Y2017 Y2018 Q2-2019 SISB-PU SISB-SV SISB-CM SISB-TR SISB-EK

Number of Students

Number of Students

Seats Capacity and Utilisation

Number of Students 2,150 2,150 3,120 4,175 4,175 1,532 (71.3%) 1,705 (79.3%) 2,061 (66.1%) 2,369 (56.7%) 2,539 (60.8%)

• 500

1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 Y2015 Y2016 Y2017 Y2018 Q2-2019 Seats Capacity Number of Students

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Foreign student 394 students : 15.5% Thai student 2,145 students : 84.5% Sixth form School Grade 11 - 12 40 students : 1.7% Primary School 1,075 students : 45.4%

Number of Students by Grade as at December 2018 and June 2019 Number of Students By Nationality as at December 2018 and June 2019

Dec 31, 2018 2,369 students Secondary School Grade 7 - 10 255 Students : 10.8% Dec 31, 2018 2,369 students Thai student 2,019 students : 85.2% Foreign student 350 students : 14.8% Nursery - Kindergarten 999 students : 42.2%

Number of Students and Education Personnel (30 Jun 2019)

Jun 30, 2019 2,539 students Teachers Assistants 154 persons Teachers 290 persons Teachers Assistants 149 persons Teachers 280 persons

Number of Education Personnel as at December 2018 and June 2019

Dec 31, 2018 429 persons Jun 30, 2019 444 persons

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Primary School 1,101 students : 43.4% Jun 30, 2019 2,539 students Sixth form School Grade 11 - 12 34 students : 1.3% Secondary School Grade 7 - 10 251 students : 9.9% Nursery - Kindergarten 1,153 students : 45.4%

Q&A

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Disclaimer The information contained in our presentation is intended solely for your personal reference only. Please do not circulate this material. If you are not an intended recipient, you must not read, disclose, copy, retain, distribute or take any action in reliance upon it. In addition, such information contains projections and forward-looking statements that reflect our current views with respect to future events, financial performance and result of SISB’s activities. These views are based on assumptions subject to various risks and uncertainties. No assurance is given that future events will occur, that projections will be achieved, or that our assumptions are correct. Actual results may differ materially from those projected. The information contained in this presentation is subject to change without notice and SISB does not undertake any duty to update the forward-looking statements, and the estimates and assumptions associated with them, except to the extent required by applicable laws and regulations.