Opportunity Day Q3/2019 15 November 2019 1 Company Overview 2 - - PowerPoint PPT Presentation

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Opportunity Day Q3/2019 15 November 2019 1 Company Overview 2 - - PowerPoint PPT Presentation

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Opportunity Day Q3/2019 15 November 2019 1 Company Overview 2 Pre-2019 Key Highlights 3 Q3/2019 Performance Summary 4 Business Update Company Overview Corporate Strategy Total Real Estate Solutions Property Development Real Estate

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Opportunity Day Q3/2019 15 November 2019

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Company Overview 1 Pre-2019 Key Highlights 2 Q3/2019 Performance Summary 3 Business Update 4

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Company Overview

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Corporate Strategy – Total Real Estate Solutions

Property Management Real Estate International Brokerage Recurring Income Investment in Completed Units Property Development

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Corporate Strategy : Three -Year Goal

20 2019 19 Gui uidance dance 3 - Ye Year r Target rget

Annual Revenue (MB) Double Digit Growth YoY 2x – 3x Growth from 2019 Core Net Profit Margin (%) 10% – 12% 10% - 15% Return on Equity (%) 30% 30% - 35% Interest Bearing Debt to Equity < 2.0x 1.5x – 1.8x

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INITIAT ITIATIVE IVE ▪ Focus cus on low-rise ise condo dominiums iniums

(avg. # of units 200-300 / project)

▪ More expansion sion in into low-ri rise se proj

  • jec

ects ts

(TH, SH, SDH projects) INI NITIATI TIATIVE ▪ More expansion into recur

urring ring-inc incom

  • me

e busine siness ss

INI NITIATI TIATIVE ▪ Proactive in strategic collaboration with strategic

tegic partn tner ers

10

1

Key Strategy Initiatives for 2020

2 3

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SLIDE 7

11

Focus on Low-Rise Condominiums

1

Speed up sates/absorption rate Enhance return on investment

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12

More Expansion into Low-Rise Projects

Townhome Projects

1

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13

Detached Houses

More Expansion into Low-Rise Projects

1

Single Houses

More product diversification to weather all circumstances

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14

More Expansion into Recurring-Income Business

2

Medium to small with low payback period Retail, office, hotel /mixed-use projects

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Pre-2019 Key Highlights

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Pre - 2019 Key Highlights

The Vision Ladprao - Nawamin Impression Ekkamai The New Forum Plaza The Excel Ladprao - Sutthisan

1 2 3 4

Official icial Launc unche hed

2, 2,000 000 MB So Sold ld

Phase se 1 1 Official icial Launc nche hed

100 100% % So Sold ld

Recur urrin ring g Incom come Shopping pping Mall l Plaza Official icial Launc unche hed

87 87% SO SOLD LD

EIA App pprov roved d

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Project Launch : Impression Ekkamai

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Project Launch: The Vision Ladprao – Nawamin Phase II

39

Phas ase e I Booking king Eve vent

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Project Value 1,100 MB

EIA Approv

  • ved

ed Project Launched: The Excel Ladprao - Sutthisan

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Pre - Sale Feedback: The Excel Ladprao - Sutthisan

Br Break eak th the R e Rec ecord!

  • rd!

Pre - Sale 850 MB within 1 Day 4,000 Registers

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New Recurring-Income Project : The New Forum Plaza

The Ne New w Forum um Pl Plaza Secured Anchor Tenants

Ownership 29 - year leasehold rights GFA/NLA 34,952 sq.m / 11,593 sq.m

  • Est. Total Revenue 5,800 MB over 29 years

Expected Completion Q3/2019

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New Recurring-Income Project : The New Forum Plaza

MOU Signing Ceremony with JWS Construction

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Pipeline Projects

Total Units: 772 Project Value: 1,863 MB Sales Status: 61% Expected Transfer: Q4/2019

Th The e Excel cel Hideawa eaway y Su Sukhum umvit it 50 50

Remark: *As of September 2019

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Pipeline Projects

Total Units: 672 Project Value: 1,567 MB Sales Status: 88% Expected Transfer: Q4/2019

The Excel cel Hideawa eaway y Su Sukhumv umvit it 71 71

Remark: *As of September 2019

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Pipeline Projects

Total Units: 42 Project Value: 2,074 MB Sales Status: 71% Expected Transfer: Q4/2019

Imp mpression ression Ph Phuket uket

Remark: *As of September 2019

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Pipeline Projects

Total Units: 308 Project Value: 1,391 MB Sales Status: Phase 1 – 100% Phase 2 – 50% Phase 3 – To be launched Construction Progress: 50% Expected Transfer: Q2/2019 onwards

Th The e Visi ision

  • n Lad

adprao prao - Na Nawamin wamin

Remark: *As of September 2019

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Pipeline Projects

Remark: *As of September 2019

The e Exce cel l Hi Hidea eaway way Ratc tchada da - Hu Huai Khwang wang Total Units: 592 Project Value: 1,561 MB Sales Status: 85% Construction Progress: 4% Expected Transfer: Q2/2020 The e Exce cel l Lasal salle le 17 Total Units: 1,335 Project Value: 1,515 MB Sales Status: 63% Construction Progress: EIA Approved Expected Transfer: Q4/2020 The e Exce cel l Ratc tchada da 18 Total Units: 270 Project Value: 870 MB Sales Status: 66% Construction Progress: EIA Approved Expected Transfer: Q3/2020 Rise e Pah ahon

  • n - Inth

tham amara ra Total Units: 383 Project Value: 1,745 MB Sales Status: 74% Construction Progress: EIA Approved Expected Transfer: Q1/2022 The e Exce cel l Ladpra dprao - Sutth thisa san Total Units: 420 Project Value: 1,136 MB Sales Status: 87% Construction Progress: EIA Approved Expected Transfer: Q4/2020 Impressi pression

  • n Ekkam

amai Total Units: 378 Project Value: 4,967 MB Sales Status: 40% Construction Progress: EIA Process Expected Transfer: Q1/2023

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Backlog Breakdown

Remark: *Data as of September 2019

Total Back Total Backlog* g*

Total 3,137 Units

69% 28% 3% Townhome: 300 MB High Rise: 3,400 MB Low Rise: 7,700 MB

Total tal Ba Back cklog log 11,400 MB

Proje jects cts

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Backlog Recognition Schedule

Secured Backlog for 2019 - 2023 with almost Half of Total Backlog Ready to be Realized in 2H/2019

40% 40% 30% 30% 30% 30% 2019 2020 2021 - 2023

Remark: *Data as of September 2019

Total tal Ba Back cklog log 11,400 MB

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Target VS Actual Pre - Sale

Pre - Sale Status

7,00 000 6,50 500

Annual Target Annual Target Actual as of 9M/2019 Actual as of 9M/2019

(Unit: Million Baht)

Over 90%

Pre - Sale Target Achieved

Remark: *Data as of September 2019

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Inventory Status

Remark: *Data as of September 2019

Comp mpleted leted In Inventory ventory (สินค้าสร้างเสร็จคงเหลือขาย) 20 20 MB (12 12 Un Units) ts)

The Excel Groove ,The Excel Khukot: 11 Units, 17 MB Rise Rama 9: 1 Units, 3 MB

With less burden from low amount of completed units, the completed inventory is ready to be a quick-win for revenue realization.

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Q3/2019 Performance Summary

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Financial Performance Summary

Remark: *Data as of 30 September 2019

(3 month nths s ended d 30 Sept ptember ember 2019) 9) (9 month nths s ended d 30 Sept ptember ember 2019) 9)

Qu Quarter terly ly – Q3 Q3/20 2019 19 Yearly y – 9M 9M/20 2019 19

466 48 647 129 To Total tal Re Revenue nue Net Net Prof Profit it Q3/2018 Q3/2019

(Unit: Million Baht)

1,602 213 2,339 342 To Total tal Re Revenue nue Net Net Prof Profit it 9M/2018 9M/2019

(Unit: Million Baht)

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Financial Highlights 9M/2019

Gross Profits and Margins Net Profits and Margins

Net Profit (MB) Net Profit Margins (%) Gross Profit (MB) Gross Profit Margins (%)

1 : Not Including revenue from services and revenue from trading in completed units

149 330 952 945 36.2% 47.4% 41.4% 41.6%

Y2016 Y2017 Y2018 9M/2019

11 81 343 342 2.6% 11.3% 14.7% 14.6%

Y2016 Y2017 Y2018 9M/2019

Gross ss Profit t Margi rgin1 2016 2016 2017 2017 2018 2018 9M/2019 Sale of residential units 36% 45% 36% 36%

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Key Financial Ratio

66

2.7% 18.0% 48.6% 35.1%

Y2016 Y2017 Y2018 Q3/2019* Return on Equity (ROE)

Unit: %

Remark: *Annualized

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Debt Profile

67

Debt Breakdown Credit Facilities and Utilization Weighted Average Cost of Debt

Term Loans + Financial Lease, 2,378 THB mm Bonds, 764 THB mm 3,142 THB mm Floating, 2,378 THB mm Fixed, 764 THB mm 3,142 THB mm Undrawn Facilities, 3,350 THB mm Drawn Facilities, 3,330 THB mm 6,680 THB mm 6.07% 6.06% 6.17% 6.09% Q4/18 Q1/19 Q2/19 Q3/19

Remark: *Including debt portion at joint venture companies

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Debt Profile (Cont’ d)

68

Bond Maturity Profile

182 587 497

Q4/19 2020 2021* Finance Cost

20 60 9M/18 9M/19

Unit: THB mm Unit: THB mm Unit: THB mm

1 7 36 2016 2017 2018

Remark: *The Company has issued debenture woth approx. THB 497 mm iin Q4/2019

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Key Financial Ratio

69

1.55x 2.32x 4.66x 1.72x

Y2016 Y2017 Y2018 Q3/2019 Leverage Ratio : IBD/E Leverage Ratio : (IBD – Cash)/E

Decreasing trend of leverage ratio (IBD/E and Net IBD/E), lower than Financial Institutions’ and Bond’s covenants

1.29x 1.48x 4.28x 1.60x

Y2016 Y2017 Y2018 Q3/2019 Financial Institution Covenants: IBD/E <= 2.5x Bond Covenants: (IBD – Cash)/E <= 5.0x

Unit: (x) Unit: (x)

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Business Update Q4/2019

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Launch Plan of Existing Projects in Q4/2019

T…

Relaun aunch ch : Impr press ession ion Phuket et Launc nch: h: The Vision

  • n Ladpr

prao ao - Na Nawa wamin min Phase se II

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Q& Q&As As

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Ap Appendi pendix

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78

Backlog (As of Q3/2019)

14 Projects

3,143 Units 11,416.93 MB

Proje jects ts Compl pleti tionDate/ Expe pecte tedComple pleti tion n Date Backlo klog Transf nsferre rreddate te/ Expe pecte tedTransf nsferre rred d date Units ts Milli lionBaht

The Excel Groove P-3 (Tower D, E) 7/2018 2 0.70 Q1/2019 The Excel Khukhot 9/2018 35 40.52 RISE Rama 9 Q1/2019 65 162.35 102 102 203.5 .57 The Vision Ladprao-Nawamin 12/2019 69 340.38 Q2/2019 The Excel Hideaway Sukhumvit 50* Q4/2019 473 1,139.93 Q4/2019 The Excel Hideaway Sukhumvit 71 Q4/2019 588 1,475.79 Impression Phuket 12/2019 30 1,294.90 1,160 4,251.0 .00 The Excel Hideaway Ratchada-Huai Kwang Q2/2020 505 1,322.25 Q2/2020 The Excel Ratchada 18 Q3/2020 177 560.10 Q3/2020 The Excel Lasalle 17 Q4/2020 366 900.34 Q4/2020 The Excel Ratchada 17 Q2/2021 31 92.38 Q2/2021 RISE Phahon - Inthamara Q2/2022 282 1,484.29 Q2/2022 Impression Ekkamai* Q2/2023 153 1,786.12 Q2/2023 The Excel Ladprao-Sutthisan Q3/2020 367 816.88 Q3/2020 1,881 6,962.3 .36

หมายเหตุ: *กิจการร่วมค้าโดยบริษัทฯ ถือหุ้นในสัดส่วนร้อยละ 51

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79

Proj

  • jects

Proj

  • ject Value (MB

MB) Units s for Sale Sold ld Units s (%) Sold ld Value (MB MB) Transfer sferred Value (MB MB) Invent ntor

  • ry Value

(MB MB) Const stru ructio ion Completed d and Transfer sferre red The Excel Groove 1,276.00 656 99.7% 1,272.10 1,271.40 3.90 The Excel Khukhot 718.78 581 98.5% 703.94 663.42 13.84 Rise Rama 9 1,631.41 652 99.8% 1,628.62 1,466.27 2.79 3,625.1 .19 3,604.6 .66 3,401.0 .09 20.53 Sale and Const stru ructio ion n Process ss Impression Phuket 2,074.00 42 71.4% 1,294.90

  • 779.10

The Vision Ladprao-Nawamin 1,391.00 308 47.4% 688.13 347.75 702.87 The Excel Hideaway Sukhumvit 50* 1,863.27 772 61.3% 1,139.93

  • 723.34

The Excel Hideaway Sukhumvit 71 1,566.46 672 87.5% 1,475.79

  • 90.67

The Excel Hideaway Ratchada-HK 1,561.05 592 85.3% 1,322.25

  • 238.80

8,455.7 .78 5,921.0 .00 347.75 2,534.7 .78 Sale and Develo lop Process ss EIA Approved The Excel Ratchada 18 870.12 270 65.6% 560.10

  • 310.02

Rise Pahon-Inthamara 1,745.00 383 73.6% 1,484.29

  • 260.71

The Excel Lasalle 17 1,515.17 581 63.0% 900.34

  • 614.83

The Excel Ladprao-Sutthisan 1,136.22 420 87.4% 816.88

  • 319.34

5,266.5 .51 3,761.6 .61

  • 1,504.9

.90 EIA EIA Process ss The Excel Ratchada 17 700.00 235 13.2% 92.38

  • 607.62

Impression Ekkamai* 4,967.09 378 40.5% 1,786.12

  • 3,180.97

5,667.0 .09 1,878.5 .50

  • 3,788.5

.59

1 2 3

หมายเหตุ: *กิจการร่วมค้าโดยบริษัทฯ ถือหุ้นในสัดส่วนร้อยละ 51

Project Status Summary (As of Q3/2019)